CXO Quick Start Best Practices
Often times in the work we do, a senior executive is bringing us in to help him or her partner on a strategic initiative bring their vision to reality, or execute a major program. In these cases, the leader is usually well-established within the organization and seeking help on a specific business challenge.
But other times, we are brought in by a new executive — either new to the role or new to the organization altogether — who is seeking our assistance in effectively navigating the first few weeks and months on the job. In these engagements, which we typically refer to as CXO Quick Starts, we are jumping in side-by-side with the new leader to help understand their new landscape, identify key priorities, define a clear action plan, and ensure the people, processes, and tools within their function are aligned towards a common purpose. Easier said than done!
These engagements are particularly interesting and challenging because the “project sponsor” is learning alongside us, not reciting years’ worth of internal knowledge.
When we embark on a CXO Quick Start, we’re typically helping our client sponsor:
Get to know their current team and function by interviewing team members and key stakeholders to get their point of view
Identify gaps, issues, and roadblocks, typically through analysis and discovery sessions
Align on recommendations for high-priority changes and investments
Create an actionable roadmap to ensure the organization or business function is making tangible progress on strategic priorities
As you can imagine, this work includes ramping up on lots of information, rather quickly, with pretty high stakes. Using a structured approach gives us some guardrails — something to hold onto when we’re feeling shaky — and helps to make sure we don’t miss an important element amidst the many details.
CXO Quick Start Framework
We like to use a framework built around six components to support new executives through their early weeks. Here it is:
Customers & Success Criteria
Who are our customers (internal & external) and what value do they get from us?
What value are they NOT getting from us that they expect?
Why did they choose us in the first place?
How satisfied are they with our products/services?
Where are there areas of frustration or friction for our customers?
What are their alternatives to working with us?
What new products/services could we provide that would be valuable to them?
Strategy & Goals
What is our top-level mission?
What are our guiding principles as an organization?
What are our key performance indicators (KPIs) as an organization/function?
What are the underlying operational metrics we need to move in a certain direction to achieve our KPIs?
What are the major pillars or elements of our strategy needed to succeed in our mission?
What are the roadblocks keeping us from meeting our goals and how do we remove them?
Structure & Processes
Do we have a well-defined operating model for how we get work done?
Does our organizational structure align with our strategy?
Do we have the right roles?
Which ones need to change?
Which ones need to go away?
Which ones are we missing?
Are we organized the right way to drive results and accountability?
Are we organized the right way to ensure effective people management, performance management, and career development?
Are we organized in a way that makes it easy for customers (internal & external) to communicate with us?
Do we have the right processes and tools in place to be successful?
Financials & Risk Management
If we are a revenue-generating unit/organization, do we have a clear picture of our revenue forecast for the next 12 months?
Where are there opportunities to grow our top line? Where is there risk of losing revenue?
Do we have a clear picture of our budget (operational, capital, projects, etc.)?
Are we investing in the right things to achieve our strategic vision?
If we had to cut 10% tomorrow, do we know which expenses come off the board?
What mechanisms do we have in place to manage and mitigate risk (compliance, audits, security, etc.)?
People & Roles
Once we’ve aligned on the structure and roles, do we have the right people with the right skill set and attitude in each role?
Are we investing in our high-potentials with stretch roles and coaching?
Are we putting our “aces” in the right “places” (i.e., are our best people working on the most important strategic priorities)?
Is there low-value work we should be offloading, automating, or offshoring?
Communication & Alignment
Are we telling our story effectively internally and externally?
Where do we have communication blind spots and how can we solve them?
Is our leadership team/board/ownership group aligned on our vision and approach?
Are our team members all aligned on the vision and rowing the boat in the same direction?
Are our customers all aligned on where we’re going and do they see value in it?
You’ll find the above information, along with a downloadable one-pager, on our CXO Quick Start Framework page for convenient reference.
Working through this list can take anywhere from three weeks to three months, depending on the size and complexity of the operation. It’s important to demonstrate early progress, but don’t let quick wins distract from overall success.
The intent is not that you have to go through every one of these steps in the order listed. Rather, we recommend that you quickly get a feel for which areas may need the most attention and prioritize those. For example, an IT team that was assembled through multiple acquisitions may need more help with structure/people/roles at the start. On the other hand, a standalone organization with a new CEO may be more focused on defining revenue growth opportunities and long-term vision.
In either scenario, we walk alongside the new CXO and help them tackle these questions quickly and effectively in a way that generates results and builds confidence.
We hope these CXO Quick Start Best Practices are a helpful tool in your tool belt, whether this is a current challenge or one you’ll tackle in years to come. If you would like a thought partner along the way, reach out at info@flexpointconsulting.com. We’d be happy to help.