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The Importance of Transitions

“It is when we are in transition that we are most completely alive.”
— William Bridges

This quote from William Bridges emphasizes the importance of transitions in our personal and professional lives. While some transitions can be challenging to prepare for, they can also give us energy, motivation, and inspiration. How we react during a change is critical to our success as leaders. We must focus on our leadership traits and how we react in different situations, primarily how we handle stress and unpredictability.

It’s essential to listen first, act consistently, and communicate transparently.

Here are some tips to keep in mind during a transition:

  • FOCUS on the next best step you can make and act on it.
  • THINK about the consequences of what you say and how you say it – before opening your mouth.
  • LISTEN to your team, ask questions, and be curious.
  • USE facts to back up your perceptions.
  • INVEST in what will put you in a better position to improve productivity.
  • CREATE a one-page document that includes your vision, values, strategy pillars, and targets – this will help you remain focused on what is critical to the triple bottom line and not get sidetracked.
  • FOCUS on what you are good at and what you can get results on that no one else can – delegate everything else, and don’t get stuck in the minutia.

Remember to be conscious of your time management, the talent you are surrounded by, and your operating rhythm to ensure you spend time on what matters most. Conduct a weekly review and preview of your priorities to stay on track and focus time quarterly on organizational operational and strategic issues.

Transitions can be challenging but can also be opportunities for growth and success. Embrace the change, focus on what you can control, and lead with clarity and purpose.

“Change is inevitable. Growth is optional.”
— John C. Maxwell

If you have any questions or want to learn more on the powerful benefits of executive coaching to elevate your success, please contact us or reach out directly to jenny@jennyreilly.com and book a complimentary 30-minute strategy session.

 

 

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Tactics to Help You in Periods of Professional Transitions

Do you find yourself answering “YES” to any of the questions below?

  • Are you making or thinking about a career transition this year?
  • Are you in the process of turning your business, department, or team around?
  • Have you recently been promoted and struggling to determine what to focus on first?
  • Are you considering a move into a different area of the business or a geographical move in your job?
  • Are you in the position where you now lead some of your former peers?

Your professional life is made up of one transition after another. All professional transitions provides you with the ability to shine, falter or fail. Shine, and you will advance. Falter, and you may lose the credibility and trust of your colleagues. Fail, and you may not recover if you don’t have the right attitude or outlook to learn from your mistakes and move forward.

‘What got you here won’t get you there.’
~ Marshall Goldsmith

 Steps to Help During Professional Transitions

  1. Determine what you need to learn – fast. How does the company, unit or team operate? Who has influence and why? What internal and external alliances can help support you in your role?
  2. Identify your ‘A’ priorities. Along with A priorities, integrate changes that need to be made in the structure and processes to increase efficiency, productivity and the triple bottom line.
  3. Outline your vision, goals and strategic intent in the position. Be communicative and transparent.
  4. Build your team. If you are taking over leading a team, evaluate your people. Determine if they are in the right seat, need development or are not a good fit.
  5. Focus on early wins. Identify the most pressing weaknesses and make the necessary changes to turn those around. This will help you build credibility in your position.

‘ You only know what you know.’
~ Loretta Swit

If you have any questions about professional transitions or want to learn more on the powerful benefits of executive coaching to elevate your success, please contact us or reach out directly to jenny@jennyreilly.com and book a complimentary 30-minute strategy session.

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Leadership Tools For Your Day-To-Day

I am sharing two leadership tools with you to help you focus on your role.

  1. A brief questionnaire to help you identify your leadership focus.
  2. A self-ranking assessment to assist you with your core leadership activities.

Tool 1: How is Your Leadership Focus?

STEP 1: Answer the following ten questions in the questionnaire below with a yes or no answer.

STEP 2: Prioritize your ‘yes’ answers in order of what would help you most in your role if improved.

STEP 3: Select the top three, and list one thing you can do in each area to improve. These are your top 3 areas to focus. Implement these actions into your schedule to follow through to ensure improvement.

Leadsership Tools - Questionnaire

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tool 2: Your Core Leadership Activities

Leadership requires continual development. Competencies can be strengthened when managing yourself and your team and supervising managers, leads and senior leaders.

HOW DO YOU RATE YOURSELF ON YOUR CORE LEADERSHIP ACTIVITIES?

Step 1: Rate yourself on a scale of 1 (being low) – 5 (being excellent) on the following.

Step 2: In areas where you are rating yourself low, prioritize improvement for next month.

Leadsership Tools - Core Activities

 

If you have any questions about these leadership tools or want to learn more on the powerful benefits of executive coaching to elevate your leadership success, please contact us, or reach out directly to jenny@jennyreilly.com and book a complimentary 30-minute strategy session.

 

Leadership Inner Circle

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2022 Review & 2023 Preview

It’s time to review your past year and set your professional and personal goals and intentions for 2023.

2022 Review

Reflect on 2022 and answer the following four questions:

  1. What worked well for you professionally and personally in 2022?
  2. What did not work and why?
  3. What were your most significant time wasters this year?
  4. What did you enjoy doing most in 2022?

“We do not learn from experience, we learn from reflecting on experience.”
— John Dewey

2023 Preview

Now the fun part, projecting ahead and defining what you want to focus on professionally and personally in the next year.

Annually, I set between seven and ten professional and personal goals.

Professional and personal goals

 

To start, I look at the buckets that are important to me professionally and personally and go about listing the focus for the upcoming year:

For example:

PEOPLE – is everyone in my consultancy in the right seat? They must get it, want it and have the capacity to do it. I then look at how I hire, onboard, train, review, engage and recognize individuals.

CLIENTS – are our clients satisfied with our work? Check-in on client satisfaction, and determine what we can do better to serve client needs.

DATA – what metrics am I using to measure my consultancy. Focusing on my scoreboard of 3-5 core high level numbers form my business that are essential for continuity and scalability.

PROCESSES – review core processes and determine if they remain simple, scalable, efficient, and profitable to the bottom line. Determine if any new processes are required and ensure they are executed uniformly.

FINANCES – review current cash position, pricing model, areas that can be tightened up and financial reporting model for improvements.

Action Plan

After you have determined the areas on which you would like to focus your professional and personal goals in 2023, it is time to write them into a S.M.A.R.T.E.R. statement.

 

Goal Planning

The last step to ensure action on each of the identified goals is to write the first three tasks that you will complete under each goal. This will give you the momentum to move forward and help you work on your goal through to completion.

Action Plan 2023

 

 

If you need executive support to create a production action plan for 2023, please contact us, or reach out directly to jenny@jennyreilly.com and book a complimentary 30-minute strategy session.

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YEAR END BUDGETING 2022

2022 in Review

As the year approaches a wrap, it’s time to highlight your achievements and position yourself for 2023. Review and report on topics like your organization’s accomplishments, value creation, budgets, financial ratios, your competitor analysis, and the year ahead. Take time to create a full-year timeline with strategic projections and goals. Use the 2022 Annual Report Components infographic to serve as a guide for elements to include.

Annual Report Infographic - Jenny Reilly Consulting - Executive Coaching

 

“A budget is more than just a series of numbers on a page; it is an embodiment of our values.” – Barack Obama 

Know your numbers

Over this quarter, a primary client focus has been on analyzing financial reports and data to aid the decision-making required for 2023 planning. Understanding the budgeting process is crucial in evaluating opportunities and risks.

Understanding your numbers allows for more strategic decision-making. Your numbers can provide:

  • comparability,
  • verifiability, and
  • understandability

of the next best steps to take in your company.

As a leader, you are expected to have a thorough understanding of your numbers, prepare forward-looking financial reports, set financial targets, determine the usage of resources, and evaluate the costs and benefits of each option.

Business budgets help leaders run a successful business. A budget provides the opportunity to assess the actual budget against what was forecasted and planned.

Steps to take in preparing for 2023

  1. Before developing your budget, it is normal practice to have a strategy session that will review relevant economic factors, sector issues/constraints/ opportunities, and management plans. Develop or review your 2023 budget (that should accommodate your short-term plans, normally one year in duration) and ensure each of your strategic objectives is related to your budget.
  2. Your budget should address each of your strategic initiatives, including cash and payments, sales volumes and revenues, detailed inventories, labour, and production requirements.
  3. Break your annual budget down into monthly budgets that will assist in planning and communication to the team.
  4. If you are working on a unit or department budget, ensure you understand how the budgeting process interlinks with the various budgets in the business.

Can you answer the following?

  • What is your mission, vision, short- and long-term strategic objectives?
  • Have you recently conducted a position analysis of your organization?
  • Who are your current competitors?
  • Do you have a comprehensive forecasting and budgeting process? Can you explain when and how this process is performed?
  • How often do you review your annual budget, identify variances between your forecasted and actual performance and update as strategic initiatives pivot and change?

Understanding your budget will enable you to:

  • identify short term problems
  • promote forward-thinking
  • help in the coordination of units within a business
  • communicate budget guidelines
  • motivate your employees to promote better performance
  • monitor performance relevant to the budget
  • implement a system of control, levels of responsibility, and authorization

If you’re a business owner, entrepreneur, or c-suite executive and have any questions about this month’s topics, or feel this resonates with you and you need executive support to project your budget successfully into 2023, please contact us, or reach out directly to jenny@jennyreilly.com and book a complimentary 30-minute strategy session.

 

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