Swimming Naked

In a 2001 Berkshire Hathaway Chairman's letter, Warren Buffett declared "You can only find out who is swimming naked when the tide goes out."  Depending on the context or your specific situation, one can derive a variety of different meanings from this metaphor.  Naturally, I see it from a business perspective and wonder how many companies have been "swimming naked" for so many years.

Sure, there are the obvious casualties like Chrysler (recently filed bankruptcy), Lehman Brothers (RIP), and so many others - too lengthy to mention. What does it mean to you (and your company) and how can you mitigate future risk?

So, the economic tide has gone out, you are standing there in public view and you want to know how this happened. It is fair to say that there are many factors out of your control - (i.e. decisions by government and large financial institutions, your competition, your market place) but it is those factors within your control where you will find the answer - and solutions - to your success.  You control your direction and strategy, your culture - how people work together and treat your customers, your business structure - the infrastructure for delivering value, your core process; technology - physical - measurement, and your systems that allow for the coordination of employee activity and professional development.

Your situation is unique; however test your organization on these culprits to see how you measure up.  These are areas on which I am commonly asked to provide advice and assistance:

• A poorly defined strategic plan / direction, core values, competitive advantage, performance measurement, improvement initiatives.
• Lacking leadership team alignment to strategic goals / failing grade accountability, decision making, and execution.
• Minimal effort on building leadership capability at all levels in the organization / strong leaders are necessary to deliver consistent performance and build company value.
• Ineffective sales force / sales management, skilled salespeople, sales measurement systems, sales process.
• Poor selection and hiring / the impact on your bottom line is real and measurable.

If you are inclined - send me an email to let me know how you did - I'll be happy to reply with my thoughts and advice.  Either way, you can make a positive impact today.  Sitting back and reflecting on your findings is only the first step - you need to involve others, prioritize your corrective actions, and deliberately establish an action plan for sustainable business results.