Sharpen Your Saw Autumn 2016.

Sharpen Your Saw Autumn 2016

The 4 Disciplines of Executing The Weichert Recipe
“It Ain’t Rocket Surgery!”

“The 4 Disciplines of Execution” Achieving Your Wildly Important Goals
Based on the #1 Business Bestseller by Chris McChesney, Sean Covey and Jim Huling of Franklin Covey. Special Thanks to Abraham Chehebar of WEICHERT, REALTORS® -Best Beach for introducing the book to WREA.

Buyers aren’t liars and brokers aren’t lazy

WHY IS EXECUTION DIFFICULT?
ˌeksəˈkyo͞oSH(ə)n/ noun 1. the carrying out or putting into effect of a plan, order, or course of action. What stands in your way of getting done what you want to get done. From the group. Handout WHY IS EXECUTION DIFFICULT?

What stands in your way of getting done what needs getting done?
EX·E·CU·TION What stands in your way of getting done what needs getting done?

Why is Execution Difficult?
The Whirlwind ~ Your Day Job The massive amount of energy to keep your company going day to day. Ironically, it’s the thing making it so hard to execute anything new.

We seldom differentiate between the Whirlwind and Strategic Goals. Both are necessary to your company’s survival. List real estate whirlwind.

Your Agents Whirlwind And it’s your too. You have to manage all the activities that get everything done.

PUTTING OUT FIRES!! Recruiting HR Issues Compliance Issues
Your Whirlwind Plus Physical Plant Expense and Maintenance Business Planning and Budgeting PUTTING OUT FIRES!! Maintain Supplies Licensees and Permits Payment and Management Recruiting Career Development HR Issues Compliance Issues

The Whirlwind and Strategic Goals.
Coveys Quadrant The Whirlwind and Strategic Goals.

Strategic Goals VS The Whirlwind
Increase Revenue From Open Houses from 10% to 20%, in Raise PPP of All Agents from .55 to .75 per month in 2017. Approve commission checks for the week. Attend Continuing ed class. Conduct an I-call session. Review new listings. Answer routine deal questions. PUT OUT FIRES!!!

But, they ARE different. Both compete relentlessly for Time Resources Energy and, Attention The Whirlwind usually wins.

Describe Your Whirlwind?
What are some of the things you need to address, your Whirlwind, on a daily or regular basis keeping you from achieving your important goals? HS Table Discussion?

The Whirlwind is urgent, acting on you every minute of every day. The Goals set to move forward are important but when urgency and importance clash, urgency wins every time.

Important goals, requiring you to do new and different things, often conflict with the “Whirlwind” of the day job, made up of urgencies that consume your time and energy. Why is Execution Difficult? WHIRLWIND (The Day Job) GOALS (New Activities) IMPORTANT (YOU ACT ON IT) URGENT (IT ACTS ON YOU)

Recruiting Solves ALL Ills??
Should we use this thinking? No PPP is what secures solid customer service and profits.

We have too many examples to ignore.
PPP Realities Management Involvement Has A Real And MEASURABLE Impact On Sales Associates Productivity We have too many examples to ignore.

The Whirlwind Isn’t Bad!
It keeps your company alive and you cannot ignore it. If you do, it can kill you today. However, if you ignore the important, it can kill you tomorrow.

The Whirlwind Isn’t Bad!
If you operate solely within the Whirlwind, you will not progress. All your energy is spent trying to stay upright in the wind. The challenge is executing your most important goals in the midst of the urgent!

Dragons or Gnats A senior executive at a leading home improvement retailer… “We don’t have dragons swooping down and knocking us off our priorities. What we have are gnats. Every day we have gnats getting in our eyes, and when we look back over the last six months, we haven’t accomplished any of the things we said we were going to do.”

Execution To create significant results you have to execute a behavioral-change strategy. To do so means battling the Whirlwind. It is a worthy adversary, undefeated in many organizations. The 4 Disciplines of Execution aren’t designed for managing your Whirlwind. The 4 Disciplines of Execution are rules for executing your most critical strategy in the midst of your Whirlwind.

The 4 Disciplines of Execution
Focusing on the Wildly Important Acting on Lead Measures Keep a Compelling Scorecard Create a Cadence of Accountability

Discipline 1: Focus on the Wildly Important
Select 1 (at most 2) extremely important goal(s). This is a Wildly Important Goal or WIG. This matters most. The more you try to do, the less you actually accomplish. Scientific proof of inefficiencies of multi tasking. The more you try exercise.

Diminishing Returns Number of Goals (In addition to the Whirlwind)
2 – 3 4 -10 Use our reports as example Goals Achieved With Excellence 2 – 3 1 – 2 Your chances of achieving 2 or 3 goals with excellence are high; but the more goals you try to handle at once, the less likely you will be to reach them.

It’s a discipline of focus. Focusing on one, or a small set of achievable targets. The sun’s scattered rays are too weak to start a fire, but focus them with a magnifying glass and they will burn paper in seconds. The same is true of people – focus their collective energy on a challenge, there is little they can’t accomplish. This is one of the advantages of our Weichert culture. Cooperation. As an example that’s why we focus our open houses on the same time frame. Also why we want all of our agents to use doors.

CONVENTIONAL THINKING 4DX PRINCIPLE All of our goals are Priority 1. we can successfully multitask and succeed in 5, 10 or 15 important goals. All we need to do is work harder and longer. Many of our goals are important, but only 1 or 2 are wildly important. We call them WIGs. They are the goals we must achieve. Our finest effort can only be given to 1 or 2 wildly important goals at a time.

X to Y by When All WIGs must contain a clearly measurable result, as well as a date by which it be achieved.

TEAM WIG Increase Open House Attendance from 6 average visitors to 10 average visitors in 2017

No team focuses on more than two WIGs at the same time.
Wig Rule #1 No team focuses on more than two WIGs at the same time.

The battles you choose must win the war.
Wig Rule #2 The battles you choose must win the war.

Wig Rule #2 The battles you choose must win the war.
There is a relationship between Battles and Wars. The sole purpose of lower level WIGS is to support the execution and accomplishment of the overall WIG. It is not enough that a lower level WIG is consistent with the overall WIG. It must exist to accomplish the overall WIG.

Senior leaders can veto, but cannot dictate.
Wig Rule #3 Senior leaders can veto, but cannot dictate. How to lead into without dictating.

Wig Rule #3 Senior leaders can veto, but cannot dictate.
Senior Leaders determine the overall WIGS. It is imperative to get participation in the creation of the supporting WIGS. Veto can arise only when the lower level wigs does not meet the litmus test of being in support of the overall WIGS. How to lead into without dictating.

All WIGs must have a finish line in the form of from X to Y by when.
Wig Rule #4 All WIGs must have a finish line in the form of from X to Y by when.

X to Y by When “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth.” “We need to be out of Vietnam.”

X to Y by When

X to Y by When X Y When Earthbound To the Moon and Back
By December 31, 1969

What is your WIG?

Discipline 1: Focus on the Wildly Important - Overall WIG
Just “Improve Profit” is probably not specific enough. “Increase profits from Open House Transactions by 10% In the first 6 months of 2017”

Discipline 1: Focus on the Wildly Important - Overall WIG
“Increase profits from Open House Transactions by 10% In the first 6 months of 2017” This allows for clear supporting WIGS. “Increase number of Open Houses Held by 25% in the first 6 months of 2017” “Increase the average number of attendees at each open house by 10%

What is your WIG? X Y When

What is your WIG? X Y When 1 pm

Discipline 2: Act on the Lead Measures
This is the discipline of leverage. Based on a simple principle: All actions are not created equal. Some have more impact than others in reaching a goal. Identify and act on those. Whatever the goal, your progress and success is based on two kinds of measures: lag and lead.

Lag Measures: usually most of your time is spent praying over them Revenue Profit Market Share Customer Satisfaction

Lag Measures: usually most of your time is spent praying over them When you receive them, the performance that drove them is already in the past. You pray because by the time you get a lag measure, you can’t fix it. It’s history.

Lag Measures: usually most of your time is spent praying over them Our examples are things like New Listings and Sales Boards on our office walls.

Lag Measures are things like New Listings and Sales Boards on our office walls. We cannot really act upon these numbers and affect a better outcome for our agents. The effort is over!

Lag Measures are things like Open House Boards that just show dates, addresses and hosting agents. All this usually shows is a volunteer effort by the agents to do Open Houses.

Lead Measures: measures of the most high- impact things needed to be done to reach the goal. They measure the new behaviors that will drive success on the lag measures. Two characteristics: It’s predictive of achieving the goal and it can be influenced.

Lead Measures would be things like number of doors knocked on to invite to an open house. Phone call invitations. Mail. Etc. Displaying these numbers shows the relationship of these activities, i.e. Lead Measures, to success by your agents.

Example: Losing weight Lag Measure: Pounds Lost Lead Measures: Specific daily limit of calories and a specific number of hours of exercise each week.

Example: Losing weight The Lead Measures: Are Predictive because by performing them you can predict what the scale (lag measure) will tell you next week. Are Influence able because both new behaviors are within your control.

Acting on the Lead Measures is one of the little- known secrets of execution. Because lost leaders are so focused on the lag measures, the discipline to focus on lead measures feels counterintuitive. But, the lead measures, as their name says, get to the lag measures.

Because lost leaders are so focused on the lag measures, the discipline to focus on lead measures feels counterintuitive. This challenge is enhanced in real estate as the inertia is this way.

LAG MEASURE LEAD MEASURE MEASURES THE GOAL PREDICTIVE: Measures something that leads to the goal. INFLUENCEABLE: Something we can influence

Your WIG:_______________________ Lag measure(s)?__________________ Lead measure(s)?_________________ _________________

The 4 Disciplines of Execution
KEEP A COMPELLING SCORECARD Discipline 1 FOCUS ON THE WILDLY IMPORTANT Discipline 2 ACT ON THE LEAD MEASURES Discipline 4 CREATE A CADENCE OF ACCOUNTABILITY

Discipline 3: Keep a Compelling Scoreboard
This is the discipline of engagement. In principle, the highest level of performance always comes from people who are emotionally engaged and the highest level of engagement comes from knowing the score, people knowing if they are winning or losing. It’s that simple.

People play differently when they are keeping score.

Next step is capturing the game on a simple but compelling scoreboard. It needs to be a simple players’ scoreboard, not a complex coach’s one. You must be able to immediately see if you are winning or losing. If it isn’t clear the players of the game will return to the Whirlwind.

Discipline 4: Create a Cadence of Accountability.
This discipline is where execution really happens. The first three set up the game but, until this is applied, the players aren’t in the game. Based on the Principle of Accountability: unless we hold each other accountable, the goal naturally disintegrates into the Whirlwind.

The cadence of accountability is a rhythm of regular and frequent meetings of people who own a wildly important goal. They happen at least weekly and ideally last minutes. During which team members hold each other accountable for producing results, despite the Whirlwind.

Why is the cadence so important? Without regular accountability sessions, the system breaks down.

WIG Builder Tool Brainstorm ideas for the WIG.
Brainstorm lag measures for each idea (from X to Y by when). Rank in order of importance to the organization or to the overall WIG. Test your ideas against the checklist on the following page. Write your final WIG.

Did You Get It Right? WIGs
Does the team clearly have the power to achieve the WIG without heavy dependence on other teams? Does the WIG require the focus of the entire team, not just the leader or the subgroup? Is the lag measure written in the format “from X to Y by when”? Can the WIG be simplified any further? Does it start with a simple verb and end with a clear lag measure?

Did You Get It Right? WIGs
Does the WIG require the focus of the entire team, not just the leader or the subgroup? Is the lag measure written in the format “from X to Y by when”? Can the WIG be simplified any further? Does it start with a simple verb and end with a clear lag measure?

Lead Measure Builder Tool
Insert the Wildly Important Goal and the lag measure in the top box. Brainstorm ideas for the lead measures. Brainstorm methods for measuring those ideas. Rank in order of impact on the WIG. Test your ideas against the checklist on the following page. Write your final lead measure.

Did You Get It Right? Lead Measures
Have you gathered rich input on the lead measures from the team and others? Are the lead measures predictive – that is, the most impactful things the team can do to drive achievement of the WIG? Are the lead measures influenceable-that is, does the team clearly have the power to move the lead measure?

Did You Get It Right? Lead Measures
Are the lead measures truly measurable? Can you track performance on the lead measures from day one? Are the lead measures worth pursuing? Or will the data cost more to gather than it’s worth? Will these measures lead to unintended consequences? Does each lead measure start with a simple verb? Is every measure quantified-including quality measures?

Scoreboard Builder Tool

Did You Get It Right? Scoreboard
Has the team been closely involved in creating the scoreboard? Does the scoreboard track the Team WIG, lag measures, and lead measures? Is there a full explanation of the WIG and measures along with the graphs? Does every graph display both actual results and the target results (Where we are now? Where should we be?)?

Did You Get It Right? Scoreboard
Can we tell at a glance on every measure if we’re winning or losing? Is the scoreboard in a highly visible location where the team can see it easily and often? Is the scoreboard easy to update? Is the scoreboard personalized-a unique expression of the team?

Scoreboards

Did You Get It Right? Cadence Of Accountability
Are you holding wig sessions as scheduled? Are you keeping the sessions brief, brisk, and energetic (twenty to thirty minutes)? Is the leader the model for reporting and making commitments? Do you review an updated scoreboard?

Do you analyze why you’re winning or losing on each measure? Do you celebrate successes? Do you hold each other unconditionally accountably for your commitments?

Does each team member make specific commitments for the coming week? Do you clear the path for each other, finding ways to help team members who encounter obstacles to keeping their commitments? Do you keep the whirlwind out of the WIG session?

4DX Frequently Asked Questions
What are the most common mistakes leaders make in implementing 4DX? ___________________________________________

How do you handle the resisters on a team? _________________________________________________________ _________________________________________________________

What are the most common challenges of running 4DX every week? How do you deal with them? _____________________________________________________ ______________________________________________________

What types of recognition work best to keep our teams engaged? 1. Public recognition of individual performance. ___________________________________________________________________ 2. Public recognition of team performance. 3. Public recognition of execution launch. 4. Meaningful celebration.

How do I keep coming up with new and fresh commitments every week? Training Engage the team for higher performance. _________________________________________________________ Recognition and modeling. ________________________________________________________

As a senior leader, what is the most important thing I can do to sustain 4DX? ____________________________________________________

We’ve made fast progress on our WIG and it now seems that our team will exceed it. Should we raise the goal? ____________________________________________________

How do you know when it’s time to change a lead measure? ____________________________________________________

What defines a high-quality weekly commitment? Specific _________________________________________________________ Aligned ________________________________________________________ Timely

What should we do when the leader is on vacation? Should we cancel the WIG session? ______________________________________________

Are You Ready for the Opportunity?
1) YES or NO “I want to make more money in the next 12 months than I made in the last 12 months.” 2) YES or NO “I am willing to do something different in the next 12 months” 3) YES or NO “I am willing to have my manager or broker hold me accountable.”

Sharpen Your Saw Autumn 2016.

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