The One Thing

There is a great scene in the movie City Slickers where Mitch, played by Billy Crystal, is riding on horseback in the New Mexico desert alongside the grizzled old cowboy named Curly, played by Jack Palance. The old cowboy is coaching him on the secret to living a successful life.

Curly: “Do you know what the secret of life is? [holds up one finger] This.”
Mitch: “Your finger?”
Curly: “One thing. Just one thing. You stick to that and the rest don’t mean s**t.”
Mitch: “But, what is the one thing?”
Curly: “That’s what you have to find out.”

“The one thing” is the secret to a successful life and a successful business. It requires you to figure out “the one thing” you need to do right now to achieve your desired long-term outcome.

You probably have a desire to accomplish many things, but my experience with clients has shown time and time again that “less is more” when it comes to strategy execution. 

“What is ‘the one thing’?”

Asking this question is the most powerful way I know of forcing people to prioritize their work. 

Of course, to answer this question effectively, it helps to have clear Metrics (KPIs) for each role, as well as a small number of Strategic Projects (Big Rocks) to achieve each quarter, so that everyone has the proper context to answer two variants of this question:

“What is ‘the one thing’ I need to get done this week?”

“What is ‘the one thing’ I need to get done today?”

Less is more when it comes to Metrics

I help my clients identify the top 3 Metrics (KPIs) for each function.  Metrics that represent the health and drive the performance of each function or role. Usually, it is the most important outcome metric, plus 2 controllable input metrics. Here’s how we do this and run a Monthly Metrics Review

Less is more when it comes to Strategic Priorities

A common strategy trap to avoid is what I call “The long list of things to do”. A company recently showed me their strategic plan, which contained what they claimed were 10 strategic priorities. Such lists usually grow out of planning meetings in which everyone suggests all the “good things” they would like to see accomplished. But rather than focus on a few important strategic priorities, the group sweeps the whole day’s collection into a document they erroneously call a strategic plan.

A list of things to do is not strategy!

I read that Steve Jobs used to take his managers for off-site planning retreats to identify and rank the top ten strategic priorities for Apple. Members of the group competed intensely to get their ideas on the top ten list. Once they ranked them in order of priority, Jobs would stand up, take a marker, and cross out the bottom seven. “We can only do three!” he would announce.

This gesture made it clear to his leadership team what Apple would and would not do. 

There are lots of things you could do, but you can’t do everything. Strategy is about making choices. Strategy is about making trade-offs. Professor Michael Porter said, “The essence of strategy is choosing what you are NOT going to do.” Business author Jim Collins said, “If you have more than 3 priorities, you don’t have any priorities.”  You get the point. 

When I facilitate strategic planning sessions, I force my clients to choose no more than 3 long-term (3 to 5 year) strategic moves that will help them to establish a competitive advantage in their industry, and ultimately achieve their BHAG/Vision.

From there, we cascade these long-term strategic moves down to 3 initiatives for the year, and cascade these down to no more than 3 Strategic Projects (Big Rocks) to focus on this quarter, and we rank these projects in priority order. 

In summary, we choose the 3 most important things, ranked in order, and say NO to everything else.

Anyone can say NO to bad ideas, but a focused leader says NO to all the other good ideas that do not make the cut. They say NO to distractions, and focus the company on the small handful of things that will make the greatest long-term impact.

Less is more.  It is better to do less and do it well, than take on too many things and spread yourself too thin. Your mantra for success should be: “Focus on less to achieve more.”

Less is more when it comes to Strategy Execution

Let’s assume you have prioritized the top 3 metrics for each function and the 3 big rocks the company needs to push forward this quarter. You probably still have a huge list of tasks on your plate.

At a personal level, ask yourself,

“What is ‘the one thing’ I need to get done this week to make forward progress in my role?”

“What is ‘the one thing’ I need to get done today?”

Regardless of their role, I urge managers to make sure everyone on their team knows “the one thing” they need to get done each week. Any other tasks that get accomplished are a bonus, but everyone in your team must know their  “one thing” and focus on getting that task done above everything else.

Praise and acknowledge people who get “the one thing” done each week. Reinforce these good behaviors. Every small win adds up to meaningful results over time.

However, if you let a person off the hook for not getting “the one thing” done, it sends a signal that people are allowed to break their promises. Here’s how to create a no excuses culture. 

To bring “the one thing” discipline to life in your company, I recommend you start by clarifying their #1 task with each person during your weekly 1 on1 meetings. Another valuable tool is a form of written report for all members of your management team, called a “15 – 5” report“, to keep your team aligned and focused. 

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Until next time…
Stephen