Four New Year's business resolutions worth keeping
New Year's resolutions are notoriously difficult to keep. But while you are shedding a few pounds, giving up smoking or trying to do a better job of staying in touch with friends, follow through on these business-related commitments as well. They will make you a more effective manager.
I will convey optimism. Be straightforward and realistic about measures that need to be taken today to control costs and realign the business. Optimism, though, is about tomorrow: "OK, we've taken a tough blow, but here is how our streamlining will better position us for next year, and here is what we need from you to make that happen." Leading Edge's research shows that employees will follow leaders through difficult changes as long as they have a sense of where they are going, why they are heading there and what they are required to do as individuals. A leader who is distracted and downcast will end up with distracted and downcast employees, and the group will lack the focus to make meaningful progress.
I will initiate collaborative efforts. Partnering with others in tough and chaotic times creates the opportunity for breakthrough results. In today's fast-paced, digital-driven world, no one person has all the answers. And partnerships allow you to leverage strengths, pool resources and extend your network and customer base - all worthwhile goals during an economic downturn. Set a goal of following through meaningfully on building a strategic relationship with at least one co-worker in 2009. Also, identify an external business relationship that could bring strategic advantage for your organization this year, and begin making the necessary contacts to follow through.
I will invest in the future. During an economic downtown, it is natural - and necessary - to take a hard look at the expense line. But be strategic about it. Why cut the things that are most likely to position your organization for success in the future? That's suicide. In fact, the companies most likely to do well coming out of the recession are those that use this period to grow capabilities and realign resources so that they have competitive advantages over others. Yes, be disciplined about costs. But identify a growth strategy and provide at least enough funding to keep the strategy alive until you are positioned to make a big move in the marketplace.
I will take care of myself. Look for meaningful ways to add to your energy and vitality. Stick to your fitness regimen - in fact, consider stepping it up a notch. In these times, working smart is more important than working hard - don't reflexively skip days off or your vacation. Keep your medical appointments. One day per month, do something just for you - go to a ballgame, the spa, on a long drive, even something goofy, as long as you enjoy it and it relaxes you. Remember, no one will want to follow you if you are a burnt-out shell.
Keep these resolutions and you will be seen as a positive, forward-looking leader, even in tough times.
Happy New Year!