Charles Schwab rose from laborer to the executive ranks through his ability to execute. “Schwab was not an originator, he was a builder”, commented his boss Andrew Carnegie. Schwab once told a story of a highly talent mill manager who worked for him who just could not get his mill to produce fully. The manager tried everything he could but failed.
Schwab went over at the end of the day, took a piece of chalk and asked the day supervisor “How many heats has your shift made today?” The supervisor answered “Six”. He chalked a big “6” on the floor, and then passed along without another word. When the night shift came in they saw the “6” and asked about it.
“The big boss was in here today,” said the day men. “He asked us how many heats we had made, and we told him six. He chalked it down.”
The next morning Schwab passed through the same mill and saw that the “6” had been rubbed out and a big “7” written instead. The night shift had surpassed the day shift. That night he went back and the “7” had been erased, and a “10” paraded itself. He had somehow created a competition among the night and day shift without a single word. This went on for months until the mill, formerly the poorest mill, became the highest performing plant of all. He somehow managed to get it done.
The best leaders, like Schwab, know how to ensure work gets done. So, do great companies. In the 80s and 90s, Toyota produced better results than General Motors (GM) because it executed better.
Execution is critical
Having an idea is meaningless unless someone steps in and does some work. Years ago, HP hired Carly Fiorina, as CEO to take the company forward with new innovative ideas and a bold new direction. She set in place the greatest merger in history and planned to have innovative new products from this merger. Seven years later, the merger failed and she was fired. New CEO Mark Hurd came in and pulled a great turnaround through ruthless execution and no-nonsense discipline. He cut expenses, improved efficiencies and put the right people into key roles, driving operating results in the process.
Learn to execute
Mark Douglas, an expert trader said, “The proper execution of your trades is one of the most fundamental components of becoming a successful trader and probably the most difficult to learn. Most traders find it is much easier to identify an opportunity, than it is to act upon it.” The same applies to all fields. Making opportunities a reality requires discipline and focus.
The key problem is habitual. Taking action is painful and forces us to do stuff, requiring discipline. Most of us hate discipline as prefer to remain in our comfort zones.
The trick is to start at the beginning stage of a task. Starting is very hard so start immediately. Start working on your to-do list the moment you wake up and don't procrastinate. Once you get one task done, even if it is a seemingly insignificant task, adds momentum to your day. This is first lesson on getting things done: Don't wait for a perfect opportunity. Just Do It Now.
Everyone can learn execution. There is no secret ingredient. It's all about hard work and discipline, but it can be mastered. Here are my top 10 ways on how to master getting things done:
1. Win the early morning battle daily. Resist the temptation to get sucked into checking email or wasting time in meaningless work. A quick win in the morning sets the right tone for determining how the rest of the day plays out.
2. Make a list of the tasks you need to accomplish. Assign realistic priorities to each task (due today, tomorrow, next Friday etc). Work on your MITs (most important tasks).
3. Work on small portions of each task daily. Don't wait till its near due date to complete the task. When you hit a wall, stop working on the task and work on another task. Don't watch TV or go on Facebook. Keep working on another task instead.
4. Eat the Cockroach: Do your most unpleasant task first. If the first thing you do in the morning is “eat a cockroach”, the day can only get better from then on.
5. Work in intervals and then take a break by rewarding yourself with a chocolate (or a healthier snack!) and then return to finish another portion of work. Make sure you decide upfront on your intervals to work and your timing for the break and stick to that decision.
6. During your break, reassess where you are and see if there is a new perspective you can bring to the work for the next interval.
7. Always keep track of your progress. Cross things off the list as they are completed. It will give you a good sense of achievement and motivate you to complete all other tasks.
8. Be Clear About your end goal. Reassess your execution list daily. Rewrite and reprioritise as needed. The clearer the end goal is, the easier it is to get moving. Always ask yourself “What needs to be done next to move this project forward?”
9. Leverage technology to complete tasks more quickly, efficiently or accurately. There is always a shorter and better way to get things done. Look for the fastest option which will give you the best results.
10. Be passionate about your work. Passion brings energy. If you don't actually care about what you're doing, it's very unlikely you will not do it.
Final thoughts
I love the African tale about the importance of running and getting things done: “Every morning in Africa a gazelle wakes up and knows it must run faster than the fastest lion, or it will be killed and eaten. Also in Africa a lion wakes up and knows it must outrun the slowest gazelle, or it will starve to death. It does not matter if you are a lion or a gazelle, when the sun comes up, you better start running.”
This same tale applies to us as individuals and as businesses. If we want to succeed, planning which shoe to wear for the run may be important, but never as important as the running itself. That is what great leaders do. They just get things done. As Nike would say, they “just do it”. Are you getting things done?
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