Your Second Step: Set Five Top Priorities, Max

KEN KELLER SCVBJ Contributing Writer

I’m continuing my columns on “what” the CEO needs to do to build a better business as opposed providing “how-to” advice. This month I’m focused on helping to define what your real business priorities should be.

Do you lead a company where someone has the courage to actually say, “In my company, you get shot down before you stand up?”

You probably don’t, so let me be that person. Let me be the naysayer to bad business plans and allow me to be the bearer of truth.

Most CEOs force their teams to have too many conflicting priorities with limited resources, yet insist on having a plan that shows nothing but growth. The plan looks great on paper. Then, in Q1, reality hits and the plan, rightfully so, belongs in the shredder.

Most companies would be wise to have not more than three very clear and realistic priorities. These are the priorities for the entire company.

However, up to five priorities might be achievable, at a maximum, depending on the caliber of your team and their ability to perform. Be real: Most teams do not perform well.

Depending on how the company has done the past few years, the priorities would depend on what needs to be fixed.

Is revenue has been flat or declining? And you want five priorities, I recommend three internal challenges as top priorities, and the last two would be addressing external opportunities. If opting for setting three priorities, two would be internal and one external.

If revenue has been growing, and you want to have five priorities, three should be for external opportunities and two for internal challenges. If you opt for setting three priorities, two would be external and one internal.

The CEOs I know have laser beams on external opportunities. The talk is always about partnerships, new products and services, new technology, followed by

Up to five priorities might be achievable, at a maximum, depending on the caliber of your team and their ability to perform. Be real: Most teams do not perform well.

Depending on how the company has done the past few years, the priorities would depend on what needs to be fixed.

Five Priorities

if Revenue is Flat or Declining

Top Five = Internal Challenges

Last Two = External Opportunities

Three Priorities

Two = Internal • One = External talk about more clients, better clients, and higher profits. For the CEO, it’s all about growth.

However, the priorities that, if met, would most likely positively impact execution, performance, productivity and profits are internal, involving your employees. CEOs nod their heads at hearing this and I’ve heard some say, “That is why I have managers on my team … to deal with that stuff.”

That “stuff” is what companies win and lose on having the right people in the right roles; correctly on-boarding new employees; having managers who actually manage; and policies and procedures that are followed. Compensation that is competitive; strong core values that are enforced up and down the entire company, no exceptions; every employee with goals that they will be held accountable for achieving. Putting the customer first; honoring deadlines made to others inside the company and doing so consistently. Addressing disengagement and not being afraid to let people go who are not performing and of course, training and cross-training.

In these first 2023 columns, I have addressed how your company can move forward quickly, through competitive analysis and a unique strategic advantage. Now, with the setting of a small number of priorities, your company will be focused on key priorities that will gain alignment, build momentum and use your limited resources wisely. You should soon see traction and coming your way soon.

Ken Keller is an executive coach who works with small- and midsize B2B company owners, CEOs and entrepreneurs. He facilitates formal top executive peer groups for business expansion, including revenue growth, improved internal efficiencies and greater profitability. Email:Ken.Keller@ strategicadvisoryboards.com. Keller’s column reflects his own views and not necessarily those of the SCVBJ. 