Austin business owners…It’s that time again…

A few thoughts to noodle when planning for 2020…

Hard to believe 2019 is coming to a close. Overall my Austin members have had another successful and profitable year. Austin economy remains strong. Cash is king so manage your top line revenue growth as to not run out of cash.

Each year in the 4th quarter we spend time on a Stop/Start Reflection Exercise, if interested send me an email and I will send it to you.

My Stop thoughts

None of us should want a bigger plate so think about what your need to stop doing in 2020 before you create that start doing list. Ask yourselves “…whose job am I doing?” and if you’re a “To Do List” leader, whose list are you completing? My business owner members believe less is more when they create clarity in what is it that only they can do for the betterment of their employees , their customers or their company.

My Start thoughts

Start with what is the agreed end game for 2020, revenue, profit, KPI’s (key performance indicators) and/or OKR’s (Objectives and key reults) and ask yourselves “…what is it that I do well and/or that only I can do?” Delegate the rest if you can. Hold your leadership team accountable with what is expected of them and their departments. Have quarterly milestones, monthly formal one-to-ones focusing on measurable targets.

My Work/Life Balance thoughts

Does your company culture line up with making sure you and your team are at those “after school” activities; be it music, dance, individual or team sports for your children? When what the last time you scheduled “date night” with your spouse or significant other? Having fun and celebrating are two of the most important aspects of running a business. Whatever level you think you are at, look for ways to increase your overall happiness in 2020.

Finish well in 2019 and continued successes in 2020.

Published by edstillman

I grew up in Carlsbad, north San Diego County, lost my dad as a teenager, went into the USAF for four years and hired on with 3M in 1969. Received my AA from Santa Barbara City College, BA and Masters from Redlands University and after 33 plus years, I retired from 3M in 2002. As I look back on my life, I have been creating myself and developing my skill sets to be a business coach and a Vistage Chair. I am president of SEOT, a "personal improvement" consulting firm spending most of my time working with Central Texas executives running small to medium size for-profit companies who are focusing on improving their profitability greater than their competition. My area of interest is assisting senior executives in creating a better balance between business commitments and personal relationships. I also facilatate three leadership labs each consisting of a dozen owners, presidents and CEOs. We meet monthly both in a group setting as well as in a 1-to-1 coaching session. Our focus is to sharpen each others' skills in becoming better leaders, making better decisions and taking ourselves and companies to that next level. Who are we? My members are experienced top executives who recognize that they don’t have all the answers and who actively seek the company of successful peers—both to give and receive insights and ideas. My members mine the 200 plus years of chief executive experience that comes together in our monthly meetings and members are eager to offer their own experience and insights in the process. As a group, we spend our time exploring topics members can't discuss anywhere else. My members have many other places where they can engage in idle, "cocktail party" chatter. Our mission is to provide the setting for discussing the "undiscussable." Where or who can you go to for confidential, honest feedback to assist you in minimizing your personal "Worry List"?