Why is quantifying your aspirational goals and understanding your teams mindset capacity important?
In a previous article, we discussed how the rate of change of current versus former leaders in an organization can be used to assess a company’s future economic performance – beyond what most analyst would be comfortable with.
The speed at which mindsets change within teams and ecosystems is a critical factor in forecasting a company’s financial trajectory. With just a few years, or even months, of data, it’s possible to obtain reliable insights into the organization’s future economic performance.
I like to say, no on hires the mindset of Fred Flintstones or Archie Bunker as a growth strategy. if you are thinking that way, odds are seriously against you.
To clarify, the “rate of change” refers to the difference in the mindset number of current leaders compared to the mindset number of leaders from a previous time period, such as the previous year or quarter. By examining this rate of change over time, you can gain insight into a company’s psychological direction and potential for growth. In other words, a positive rate of change indicates that the company’s leadership is evolving and becoming more aligned with the company’s goals, which can lead to improved performance in the future.
It’s important to emphasize that a company’s mindset and leadership composition play a critical role in predicting future success. However, it’s alarming to note that only a small fraction of companies are structured to foster top-tier performance. In fact, current hiring practices are probably working against companies 19 out of 20 times, with only about 5% successfully cultivating the right mix of leadership to drive success.
After assessing the rate of change of leaders, it’s important to use that information to develop a strategic plan for improving the company’s performance. This plan should focus on addressing any identified weaknesses in leadership and mindset, and implementing changes that will support a positive direction for the company. It’s also important to continually monitor and adjust the plan as needed to ensure continued success.
Step 3: (prior steps in the last article) Quantify your aspirational goal and acquire a comprehensive understanding of the mindset capacity of your future leaders, vendors, partners, employees, customers, and competitors.
To effectively evaluate the health of future leadership, vendors, partners, employees, customers, and competitors, it’s essential to establish specific and measurable business goals beforehand. This allows for a more targeted approach to data acquisition and analysis, leading to more informed decision-making and better outcomes. Namely, what mindset are we designing for?
When we refer to the “future” in this context, we mean your future mindset and trait capacity of employees, partners, and other stakeholders. For example, if you plan on hiring a law firm, it’s important to ensure that they have a mindset that aligns with your aspirational goals and matches your current leadership team, both now and in the future.
This may involve creating a list of functional requirements based on the job description, as well as identifying a mindset that complements and expands upon your current team’s capacities. It’s important to note that this approach may vary depending on whether you’re designing for a specific team or for the overall company.
Next is Step 4…..