What if a system existed that would help you make major progress in any area of your business or your life? Would you want to know more about it? Would you use it?
The good news is, that system does exist! When put into place in your daily life, it has the power to transform performance, drive continuous improvement and facilitate innovation.
The system is called Cadence.
Cadence is a regular beat or rhythm. When you apply a regular beat or rhythm to a business problem you make progress, drive change and innovate.
There are three important steps to implementing a Cadence.
Set a Goal
You cannot hit a target you cannot see. It sounds obvious, doesn’t it? Yet few people have taken the time to get clear on what success looks like for them. Is it money, freedom or something else that you really want? Step number 1 is to get clear. Clarity is power and by making the goal clear in your mind you are already on the path to achievement.
What is a specific goal that you can aim for?
Now, is your Goal SMARTY? A SMARTY goal is specific, measurable, achievable, results focused, time-bound and linked to a purpose, often called your why. This is important because success is 80% mindset and 20% mechanics. A wining mindset is created when you have a purpose, when you know why you MUST achieve the goal.
Big goals also need to be broken into small goals that will serve as weekly or monthly milestones to keep you on track and focused on the daily activities required to make the big goal a reality.
Think of the comfort you experience when your child texts on their way to a spring break destination to let you know they made it to a checkpoint city on schedule. Small goals provide similar comfort.
Your strategy is your unique plan to achieve the goal. Your strategy will illuminate three key areas: the priorities that must be focused on, the necessary activities to achieve the goal and measurement to provide feedback so you know if you are off track or on track.
To identify your priorities ask yourself, “what are the three things we must improve, fix, or manage to ensure we hit our goals?” Do your best to limit your priorities to three and never exceed five.
How will you know at the end of each day, week or month if you are on-track or off-track? The more quantifiable the data the better. What are the hourly, daily or weekly activities that will ensure your success? Identify these tasks, because success lies in the daily routine.
If your goal is to improve customer satisfaction, a strategy may be to create WOW experiences for your clients. A daily activity may be to exceed expectations in every interaction. Focusing on creative ways to exceed expectations every day has the power to birth habits that make creating WOW an instinct.
Execution is the act of carrying out the plan and producing results. As the pace of change in your industry continues to increase, the importance of taking action and reporting results is increasing in relationship to the time invested developing strategy.
Reporting allows you to see if the strategy is generating results that are consistent with your expectations. Reporting drives a continuous focus on the outcomes you want. Reflecting allows you to analyze why variances exist and what you need to adjust to achieve the goal.
Some wise advice: Set your goal in cement and your strategy in sand.
Steve Wynn is the CEO and Chairman of the Board of Wynn Resorts. He has developed some of the most valuable casinos in Las Vegas and around the world. He has become a billionaire by using cadence to focus his team on specific objectives. Wynn creates clarity about goals, sets a strategy for producing results and executes the strategy.
A reporting approach Winn encourages while executing is the sharing of success stories in the daily and weekly team meetings. This approach inspires the team members to better execute through the positive recognition associated with being able to share a great success story. Click here to watch Steve Wynn discuss how he is applying this in his casinos.
Goals, strategy and execution make up the cadence of your day. Mastering the tremendous power of cadence will help you drive change. Even more, the real power of cadence comes in changing behaviors that sow habits that create culture.