Four out of five projects in the average business are never put into practice. Some never get off the ground, while others burn hot in the beginning but lose momentum and smolder because the organization is either unprepared for the change or because not all contributors commit to the initiative.
The reasons are many, but regardless, the fact is that the plans, projects, and strategies that are not executed effectively amount to an expensive waste of time and effort. If you want to optimize your company's level of execution, here's some sound basic advice:
- Always have a plan of action. No strategy, plan, or project should be presented without a concrete plan that outlines who's going to do what and when, and then who will take it from there. Specify as many actions as possible until the goal is achieved.
- Assign ownership. It's crucial that each action or phase has a name and a face to go with it. This can keep important details from slipping through the cracks, put a name next to each line item in the plan and be sure to regularly touch base with that person.
- Sell the plan every day. Successful execution requires that all involved parties are behind the idea and are working in the same direction. Strategies and plans must be sold and resold in the organization in a way that each participant can see the value of the initiative.
- Break up large goals into manageable pieces. It's important for morale that people can see success along the way, so it's a good idea to identify practical milestones that are more easily reached.
- Follow up and report results and progress. Few things are more motivating than experiencing real progress in the desired direction. Try to ensure that you not only inform stakeholders about the overall status, but also include some of the smaller successes you've had along the way.
- Create a reward structure to support the plan. People like to be rewarded for their efforts, and tend to do the tasks that they'll be rewarded for first. Therefore, all plans and strategies should be supported by the promise of a reward that is commensurate with the behavior that the company wants to se in employees.
