Your #1 Decision: Enough Rigour Given to It in ‘23?

As my colleagues and I brainstormed to prepare for an upcoming meeting with a group of CEOs and people on the CEO track, we spent time to create an exercise for impactful reflection because:

  • A CEO makes one or two big decisions a year which can create a massive ripple effect on the enterprise
  • The quality of those decisions is often determined by the quality of reflection time taken and rigourous debates with key people (internal team and expert advisors) before making them.

Take Your Time

It’s easy for CEOs to get caught up in the chaos of growth, the noise, urgency and drama of problems at hand. But putting attention on a bunch of little decisions – which might add up to a 75 cent or $7.50 impact on the business – steals time and energy away from the single biggest opportunity or single biggest problem that could impact the business by $750,000 or $7.5 million.

Simply, there are 427 little things you could focus on and make decisions about, and one or two that would likely have 10 times the impact. Those deserve more of your time and energy.

The Challenge

Reflection: 2023

  • Looking back on the last year, what is the single decision that had the biggest financial impact on your enterprise?
  • If you could go back in time, how would you make that decision differently?
    • How would you change the process, who you discussed it with and/or the time and/or the energy you dedicated to making that decision?

Looking Forward: 2024+

  • What is the single most impactful decision you can make in the next 12 months?
    • To leverage a big opportunity for growth or
    • To eliminate a big problem that affects your ability to operate well as a company.
  • Who are the key people you need to help you make this decision?
    • Internal Team
    • External Advisors or Experts

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