Execution & Operations: Turning Ideas into Reality
While the entrepreneur lifestyle can certainly bring you an exciting social life and a beach-side office, the reality is that much of the work is quite mundane. Many tedious but necessary tasks have to get done, and there has to be someone on the team “who will take the unsexy, detail-oriented work seriously.”
Nothing will work unless you do. — Maya Angelou
Entrepreneur and Medium writer, Gillian Sisley explains that aspiring entrepreneurs often get an unrealistic perception of the startup life from articles that over-glamorize the journey. Sisley points out that most articles about the entrepreneurial life focus on the money, social networking, and the fun that characterize Silicon Valley. Still, she says, “…what [the articles] don’t show is the other 95% of the time when business is simply about putting your head down, doing tedious tasks and tackling administrative work out the ying-yang.”
Successful startups need to have at least one person on the team who can drive the execution and operations. Developing processes and systems to carry out daily operations efficiently is essential for a business to survive long-term. It enables entrepreneurs to maintain quality control, establish boundaries for employees, and save time. Startups with strong operations are more likely to maximize productivity, profitability, scale-up quicker, and survive longer.
What is Execution & Operations?
Execution is about the implementation of the vision, while Operations is about the development of efficient daily systems and processes that align with the strategic goals of the company. Together, strong execution and operations will result in a clear structure, standardized processes, and policies that enable the business to operate efficiently and scalably.
Common tasks related to execution and operations include managing the financials, marketing, business development, product development, and human resource management. Each of these business functions will require procedural systems, recordkeeping systems, or other administrative control processes. Developing strong operations also incorporates the development of internal and external communication and coordination mechanisms. The development of a centralized system that aligns all of these functions is critical to minimize complexities and optimize effective operations.
In a larger or more well-established company, these tasks would be distributed several across people, teams, or even entire departments because they each require a unique set of skills and knowledge from different professional fields. In the early stages of entrepreneurship, a handful of individuals need to cover all these different tasks. Therefore, tedious research and self-learning is often a significant portion of getting this work done.
Entrepreneurial businesses treat entrepreneurship as a duty. They are disciplined about it…they work at it…they practice it. — Peter Drucker
What does high Execution & Operations performance look like?
As mentioned in our first blog of the Eight Pillars of Entrepreneurship, we delve into high-performance in each of the performance pillars. The Execution & Operations Pillar is a set of behaviors that enable the development and implementation of business plans, core business functions, and operational systems.
Entrepreneurs who are skilled in Execution & Operations are highly organized, disciplined, and detail-oriented. They take the time to think through plans and strategies of implementation. Still, they ultimately place a high priority on taking action. They are focused on results and have the capability to develop and orchestrate meticulous systems for managing multiple projects or goals simultaneously. Their team is seen as highly accountable and dependable because they follow-through and deliver on their promises. In short, they get things done.
Here are some examples of core Execution & Operations behaviors:
● Analyze and transition conceptual visions into operational realities
● Organize ideas, plan, and detail the steps to realize the vision
● Take action to carry out the steps and follow-through
● Prioritize (often large sets) of tasks to focus on making progress, avoiding distractions, and reaching the vision.
● Hold oneself accountable and responsible for decisions
● Communicate updates and progress with team members frequently
● Learn how to accomplish a wide range of business activities
● Understand how to strategically align business goals and operations to will enable scalable, long-term growth
● Read and analyze important business information such as legislation or laws to ensure compliance
● Evaluate operations in a continuous manner to identify cost savings or way to improve efficiency
● Consider and balance both short-term and long-term goals
Real-Life Examples of High Execution and OperationsPerformance
Entrepreneurs who perform high in the Execution and Operations Pillar develop a carefully-planned, logical, and organized approach to reach their vision. Successful approaches include a framework from which the entrepreneur can develop streamlined processes and methods. These methods are not necessarily limited to business functions; high performing executors and operationalists thoughtfully integrate ethics, effective teamwork, accountability, and intentional leadership into their frameworks.
For example, Alexa Von Tobel of LearnVest created clear goals and set priorities, which she documented in a 75-page business plan. However, she mentions that a completed business plan was not the objective; it was the process of thinking through and developing the plan that enabled her to map out her execution and operations systems. Von Tobel even develops operations and systems for herself in order to maximize her time and conserve resources. For example, she even creates operating systems for her meals in order to maximize the time she has for work:
“I eat the same thing every single day [an apple, almonds, yogurt, a salad…], and I never sit still to eat a meal. My ultimate goal is to create operating systems for myself that allow me to think as little as possible about the silly decisions you can make all day long–like what to eat or where we should meet–so I can focus on making real decisions.”
Von Tobel’s logic behind her creation of these rigorous systems is that individuals’ mental capacity for deep thinking and decision-making is a critical and finite resource (which, by the way, is also supported by science). She is very intentionally conserving and allocating her (cognitive) resources to focus her time and mental capacity on the complexities associated with her work. The same goes for startups. If you streamline processes, you free up yourself, your employees, and other resources to devote to other critical tasks associated with running your organization (and maybe a little time for the fun and games that startups are often known for!).
While planning and structure are critical, startups cannot afford to be too rigid here. Luke Holden, Founder of Luke’s Lobster, emphasizes the importance of bearing a commitment to change and evolution while scaling and growing. Being an entrepreneur means exploring the unknown, and as Holden argues, it is impossible to know if you’re ever really going the “right way,” but being prepared to go a different way when things are not working is the key.
I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; we must do. — Leonardo da Vinci
Hear Me Code founder, Shannon Turner, advises that entrepreneurs don’t try to do it all alone if they want a truly sustainable approach. Turner scaled from 4 women around a kitchen table to more than 1,000 women in less than a year. She was able to do this in part because she created a culture of learning in which her team could learn from one another; everyone was simultaneously a student and teacher role. This allowed her to speed up the process of incorporating customer feedback and growing the program. Involving others is also beneficial because you will be more likely to get your team’s buy-in and ensure a smoother adoption of the operational systems.
Tips for improving Execution & Operations performance
Below is a list of science-based tips to help you develop your entrepreneurial skills in the area of execution and operations:
● Take the initiative to learn and gather a wide range of knowledge on core business functions
● Document everything because it will save you time in the future
● Be resourceful and use free templates and resources online
● Simplify and streamline by using visual diagrams and charts to explain processes.
● Seek involvement and participation from your team
● Be patient and focus on the long-term as well as short-term goals
● Measure and track progress, so you know where you need to improve
● Reinforce systems with recognition and appreciation
● Just because you create a process doesn’t mean it will get used, and in that case, don’t be afraid to scrap it and start over
● Reinforce the use of your system with rewards and positive feedback
Additional Resources
Books
● Execution: The Discipline of Getting Things Done,
● 7 Habits of Highly Effective People
Articles
● https://www.entrepreneur.com/article/220350
● Building a repeatable, scalable & profitable growth process
● Manage your finances, U.S. Small Business Administration
● Stay legally compliant, U.S. Small Business Administration
● Marketing and sales planning, U.S. Small Business Administration
● 8 things you can do to improve your business’ processes, Noobpreneur
● 10 guiding principles for organization design, Forbes
● 4 steps to the successful execution of a strategy, Entrepreneur
● 3 Simple questions to guide your business operations, Medium
● Are You an Entrepreneur Who Can Make a Business Fly?, Forbes
Videos
● How to start a startup, video series from Y combinator
Podcasts
● Recession-Proof: How to create a survival plan, Startup Stories
● How I Built this with Guy Raz: Learnvest, Alexa Von Tobel
Want to learn more? Visit Blackhawke’s Medium publication, From I-O to IPO, or www.blackhawke.io to learn about how industrial-organizational (I-O) psychology science can be applied to help startups increase performance and accelerate growth.
