Execution
The Importance of Execution in Business
Photo by Kaleidico on Unsplash
It’s a well-known fact that having a solid business strategy is crucial for the success of any organization. But as management guru Peter Drucker famously said, “strategy is a commodity.” In other words, having a good strategy is essential, but it’s not enough. It’s what you do with it that counts.
That’s where execution comes in. Execution is the art of turning your strategy into reality. It’s the process of taking all the ideas, plans, and goals you’ve developed and turning them into tangible results. It’s the difference between having a vision and making it a reality.
Why is Execution Important
But why is execution so important? Because no matter how well thought-out your strategy may be, it’s only as good as your ability to execute it. Without proper execution, even the best strategies will fail. On the other hand, a mediocre strategy executed well can still lead to success.
So how can you improve your execution skills? Here are a few essential tips:
- Set clear goals and objectives. It’s critical to clearly understand what you’re trying to achieve so you can measure your progress and make adjustments as needed.
- Communicate effectively. Please make sure everyone on your team understands their role and what’s expected of them. Regular meetings and clear communication channels can help ensure everyone is on the same page.
- Stay organized. Keep track of your progress and ensure everyone works towards the same goals. Use project management tools or create a task list to help keep things organized.
- Stay flexible. No matter how well you plan, things will inevitably change. Be prepared to adapt and adjust your strategy as needed.
Share this:
Getting things done
How many times have you seen people agree on a project or initiative and then nothing happens?
How many times have you met with your key leaders, created lists that you both agree upon and then nothing happens?
What gives?
Are we too busy? Are we too distracted? Is it a question of care? Is it a question of leadership?
I’ve been on both sides of this equation. I’ve been the one expected to get things done and for whatever reason not followed through. And I’ve been on the side of creating and expecting things to get done and they’ve not been followed through with.
We all have the best intentions in the world. But they’re worth nothing unless followed through with.
My thought? Lack of focus. Lack of real mindful focus. And the excuses or reasons for that are endless.
What we do?
I think we have to create a nearly inhuman disinterestedness in distractions. And get a wholly human interestedness in execution.
You’re interested in simple execution Multifamily Maniac,
M
Share this:
Execution
What is important to me in 2014?
Answer: relentless execution.
Be it the BHAG or the smallest of details – execution will matter most.
Pick a direction in 2014 and then run like hell to get there. Fumble around and mess it up – get up dust yourself off – and run like hell to get there.
Don’t make it complicated. Pick things like answer the phone. Pick things like respond to email. Pick things like post craigslist ads daily. Pick things like smile and say hi to every prospect and resident that you see every day of the week. Don’t try to be clever. Be simple. Be responsive. Be relentless. Execute.
You’re looking to execute relentlessly in 2014 Multifamily Maniac.
Share this:
Ideas Are Easy
Ideas are easy.
Executing them – not so much.
We can set around and brainstorm the fire out of any topic to come up with brilliant ideas. And we can do it in bulk and without fail.
Rubber Meets the Road
What matters is action. What matters is executing. What matters is setting fear aside and moving. Try. Fail. Try again. Fail three more times.
Short point: you know that short list of ideas you are sitting on. Stand up – pull one out – and do something with it.
Otherwise – send it to me and I will.
You always acting on something Multifamily manic,
M