Annual Reflection for CEOs and Business Owners

7 POWERFUL QUESTIONS TO REFLECT back ON 2023 AND MAKE YOURSELF UNSTOPPABLE IN 2024.

1. You’re Fired

  • The simple formula for success is to do more of what works and less of what doesn’t. The most successful leaders ruthlessly analyze what’s working and what isn’t. Imagine you were fired as CEO of your company today and someone exceptional was brought in to take over. What do you think they would do differently? What would they see as getting in the way of success? What would they do more of?

2. Eliminate Ruthlessly

  • Less is more. Most people attempt to do too many things. The problem is that too many priorities divide your attention, reduce the quality of your work, and stress you out. On top of that, none of them seem to get done.

    Choosing the right thing to work on matters as much as the work you put in. Write down your top eight objectives and/or key results for 2024. Now circle the three to four that matter most to you. Everything not circled should now be considered your ‘avoid at all costs’ list. That doesn’t mean you don’t care about them – you do. But all of these things distract you from what really matters. All the energy that goes into your 8th-objective comes at the expense of your top one.

3. Passive Mode

  • The key is having your employees do most of the work for you. Delegate with ownership and accountability. Isaac Newton’s third law states that, without exception, “For every action, there is an equal and opposite reaction.” Newton’s law is a powerful algorithm that can help you get what you want, simplify relationships, and improve your business and life. Think about it: we often respond to actions with similar reactions. If someone doesn’t help us, we don’t go out of our way to help them in return; conversely, kindness often begets kindness.

    To get this powerful force working for you, identify the areas in your life where you are passively waiting for someone to make the first move. It could be as easy as (in business…can I count on you) or a a personal apology. Reflect on where you might be passively waiting for others to act. What proactive steps can you take to initiate positive outcomes?

4. Avoid Weaknesses

  • Architect your life to avoid weaknesses. The weakest part of Tiger Woods’ golf game going into his first British Open was coming out of sand traps. The only problem was the British Open was played at St. Andrews, which is renowned for its bunkers. In the practice rounds, the press noticed he wasn’t working on his bunker shots, rather he was focused on his drives and low irons. When questioned, he explained his strategy was to avoid bunkers altogether, a plan he successfully executed by not landing in any bunkers during the tournament.

    The lesson is to identify your weaknesses and architect your life to avoid them to the extent possible. It’s the 80/20 rule in business.

    Are you spending too much time focusing on the C and low B employees when you could be coaching and developing your A & B employees?

5. Avoid Toxic People

  • Eliminate toxic people from your life. The most successful leaders carefully curate what and who they let into their lives. These are ‘lead dominoes’ that start a chain reaction. The behaviors of those you frequently associate with often become your own and those of your employees.

    Take some time to do an inventory of your employees, are their just participates or are they contributors and key employees.

    Who energizes your core values? Which ones have a negative impact on your culture? Who is passive aggressive?

    Who consistently pulls you and your employees into their drama? Who inspires you and provides new ideas?

    Who are the experts in their fields and appreciate what you tolerate becomes policy.

6. Film Crew

  • Emulate the actions of people who achieve success. If there were a film crew following you around all day documenting your success, you’d do all the things someone successful would do. Adopting the mindset of someone who achieves success can be a powerful way for you to see where you are doing the things that lead to accomplishing your objectives and where you are doing things that get in the way. For example, you wouldn’t be endlessly scrolling social media if someone was recording you documenting your success. Consider what actions you would want a film crew to document and which ones you would prefer they not see? David Friedman’s http://www.HighPerformingCulture.com is a great place to start.

7. Easy Mode / Hard Mode

  • In running a SMB there are no points for difficulty. One reason great leaders seem to consistently get better results than good leaders is they are almost always playing on easy mode while the rest of us play on hard mode. Easy mode doesn’t guarantee victory, but it makes winning more achievable.

    Are you playing on easy mode or hard mode? What can you do to put things on an easier setting? Go back to basics. What’s one thing you can do today that will make tomorrow easier? What can you do in 2024 that will leave you in a better position for 2025 and beyond? How about considering a Vistage Peer advisory Group?

    Together we are going further faster than non-Vistage SMB leaders.

Setting leader objectives: Focus on the right people

I’ll close with an easy exercise that hopefully will set you up for success in 2024. How many direct reports do you have (4, 7, 10)? Write that # down on a Post-it 2” square. To the right of that # write the # of those that you would rehire today now that you have experienced their energy, commitment and results oriented behavior? Now place that Post-it note so you can see every day what one of your 3 or 4 key objectives are for 2024.

The Brain Food recent Newsletter owns the majority of this content. I just personalized it to my coaching and chair practice.