Well-Versed by David Adams

Author:David Adams
Language: eng
Format: epub
ISBN: 9781784522001
Publisher: Panoma Press

The pages

Who yearn

And...

For that

Lo... It is

Joyous

Done.

And emotional

How little different

Success

To run

As a given

To steer

With thanks

To lead

CHAPTER SEVEN

Focus on targets and goals

Sticking to what makes up, and leads to, the future ideal.

WE HAVE spent some considerable time looking at vision. As we’ve said before, vision without goals is a daydream, while goals without vision are a nightmare. So, we have to spend as much time on both. We have our vision. What does it take in terms of goals and objectives to realise that vision?

How do goals focus the vision? What do we have to do to ensure that they are the right goals for that vision? There are a number of stories, which may or may not be apocryphal, but even if they are I don’t think that matters. The story goes that at Harvard Business School, the 4% who formulated their goals in writing and shared them with others (another way to focus), achieved a total wealth that exceeded the total of the remaining 96%. I don’t know if this is true or not but it makes a good story and, indeed, it has the ring of truth about it and it’s logical. It feels right, too!

For the rest of this chapter, I’m going to assume that it is true. We have seen just how important it is to have a vision. We have suggested that without such a vision, it will not be possible to build a successful business; to have everyone involved in helping to build that business. We have talked about the janitor at Cape Canaveral feeling that he was part of the vision that he was helping to put a man on the moon.

One hears far too many times that the boss feels they can’t possibly let the staff know that the aim is to sell the business in due course. I feel this is terribly short-sighted. Their reasoning is that they believe that if the team realise that the business is to be sold that they would be out of a job. What distinctly old-fashioned thinking! We’ve already recognised that teams these days don’t see themselves in the company forever. They too want to believe that helping to build a company will bring rewards to them as well as to the shareholders. Bring them in to the vision with the prospect of some part of the reward when the company is indeed sold. Share the ambitions and that will certainly motivate and introduce a culture that rewards loyalty and ensures retention, one of the biggest issues facing growing businesses. There is no need to make them equity partners, only to set up a perfectly legal deferred bonus scheme which shares in the eventual sale. “If you’re around when we sell, there will be a share of the overall rewards.” It doesn’t need to be the lion’s share.

Thus, with that in mind, the goals can be formulated taking that concept into account. The authorities recognise this and have made allowance for tax-efficient methods to achieve this.

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