Fact: nobody gets everything right 100% of the time!
So you are the leader! And thank goodness you are a human being too. You can feel, you can relate and, guess what, sometimes, just sometimes, you can get it wrong.
Now because you are a leader many of your decisions have potential to resonate throughout the organization. If you don’t have the insight to put the right arrangements in place, one bad decision can put the whole organization at risk.
But if you have the right governance arrangements in place, no single decision you make should be able cripple the organization or put your staff or customers at serious risk.
But it is up to you to put that governance in place!
If you do it well, it will not result in needless bureaucracy; nor will it erode your accountability for the decisions you need to take. The right approach should free you up and allow you to be entrepreneurial, without undue risk.
But I believe putting governance arrangement in place is an art form – make sure you are well advised and that those in your governance structure are carefully chosen.
Then remember the old 80/20 rule – the Pareto Principle. For entrepreneurs and business leaders this usually means:
- 80% of your profits come from 20% of your customers
- 80% of your complaints come from 20% of your customers
- 80% of your profits come from 20% of the time you spend
- 80% of your sales come from 20% of your products
- 80% of your sales are made by 20% of your sales staff
Make sure you stay clearly focused on the most significant areas of your organization – the 20% that really counts.. Find the key 20% and hone your decisions in those areas to perfection.
Then, with good governance and clear focus you will ensure that your organization doesn’t suffer a fatal fall as a result of a poor decision from you.
Wendy Mason works as a personal and business coach, consultant and blogger. She has managed or advised on many different kinds of transition and she has worked with all kinds of people going through personal change. If you would like her help, email her at firstname.lastname@example.org or ring ++44(0)2084610114 or ++44(0)7867681439 .
- The Pareto Principle and Its Application in Six Sigma (brighthub.com)
- The Pareto Principle: Does the 80/20 Rule Apply to Your Life? (blogs.sitepoint.com)
- An offer from Wisewolf – A simple but very effective form of personal and professional development. (wisewolftalking.com)