CompassX Group May 2018

The Single Most Important Piece of Advice I Could Ever Share With You

When I speak about the subjects I’m an expert on, I’ve been blessed to get a lot of great approbation over the years. I’ve also received my fair share of critical comments, but that comes with the territory. Through all of the teachings, though, I rarely give out my very best secret, because it has nothing to do with business. But today, I want to share with you my most important lesson ever. One word of caution, though. On the surface, this concept is simple; but in real life, it can be very hard to implement and even harder to master. However, if you do it, it will have a profound impact on you both personally and professionally. So, here it is. The next time you have some one-on-one time with a loved one, colleague, client, boss, etc., I want you to ask them this question: What can I do to be a better [insert your title in relation to them]?

I want to close with a question for you: Are you determined to be the best spouse, parent, entrepreneur, and leader you need to be?

If so, don’t wait. Tonight, ask your kids and spouse what you can do to be a better parent or spouse. Then, listen closely and take massive action to become the person you need to be. – Kyle J. Heppenstall | Managing Director & Founder

For example, if I was asking my kids, I’d say, “What is one thing I can do to be a better dad to you?”

If I was talking with my wife, I’d say, “What is the one thing I can do to be a better husband to you?”

My goal is to ask this question of my most important relationships at least twice per year. Then, I do my best to make a change and become that person.

The good news is it’s an easy question to ask. The difficult part is actually taking action and making a change.

Being able to change and adapt is the single most important skill you can have as a parent, spouse, entrepreneur, or leader, because all of those roles require constant change to stay ahead of the game.

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Innovative Disruption: Business leaders must ask themselves if a new concept is innovative — whether it be a new way of working internally or influencing a positive, innovative disruption in the market. Technology & Data Integration: It is vitally important to ensure that new technology will be minimally disruptive to the technical landscape of the enterprise and that data is readily available for testing in a pilot phase or production stage. Enterprise Scaling: Leaders must also consider how scalable a new concept will be across the enterprise and ensure that adoption can occur across numerous functions. Resourcing: It’s important to question if the organization 1) has the full commitment of resources for an implementation, and 2) whether new and critical skillsets need to be acquired in a pilot phase or production stage.

Our firm has identified the following most vital scorecarding metrics, which can be used to evaluate the need for implementing newer, more advanced processes and technologies across the enterprise. Leader and Do’er Alignment: It is obviously crucial to have executive leadership realize the benefits of any new concept, however equally important is to ensure the resources executing any proof of concept also are able to review and evaluate the strategic value of a full-scale implementation. Value Realization: The business must be able to articulate the value in specific monetary terms, whether it be in the form of potential revenue generation or cost savings. It should be fully understood that plenty of necessary projects have little to no “value” returned. Think regulatory driven, R&D, or true innovation-based projects. These “zero return” projects should be recorded as such and let the full results of the scoring play out to determine where they rank.

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