Executives are responsible for getting the right things done. Effectiveness means turning concepts into results and results are what happen on the outside of the business. But which results are the right results?
We know from Nobel laureate Daniel Kahneman that:
Great Success=A little more talent + a lot of luck.
Let’s focus on the “Little more talent” side of the equation. Certainly, much of what ends up being the right results is a matter of luck—whether we think we’re in control or not. But for thepart we definitely can control we must compare our results to business goals. Otherwise, we are either flying blind or depending solely on blind luck—neither of which you’d probably argue in favor of during a presentation to your Board.
Right results will happen when effort is put toward your goals. Goals were originally set to execute your strategy. Your strategy was formed by thinking deeply about how to act on your aspirations. Your aspirations are what got you into business in the first place.
So, to become a great success increase your talent by investing in a well-conceived plan. Focus on it, test it, measure it, change it, and improve it after each iteration. As long as you’re working a plan that defines success on the outside—where your customers are—your luck will take care of itself.