​Knowing how to prioritise is key, but setting the right priorities is critical

​

A new CEO knows that an early-stage priority in a new role is to establish the all-important three to five key strategic objectives that will map and define the future efforts and direction of the business. The all-pervasive ‘North Star’ that we all seem to be dropping into conversation these days.

So, you’ve set the direction, engaged the board, mobilised your leadership team and so on. Time, energy, investment and resource are all driving the new strategy. Feels like purpose, yes? But beware the folly of not taking a cold, objective, periodic look at whether the original plan is still the right plan. Lots of factors can prevent someone from saying, ‘You know what, I wonder if we’ve got this entirely correct?’ A myriad of external factors can see market drivers shift away from the direction you have set. The tragedy is leaving it too long.

Of course, no one wants to step up and say, ‘We got this wrong and we need to pivot.’ Eyes roll, shoulders drop and there may be a collective sigh. But it is better to fail quickly and adjust swiftly. The message needs managing, of course and clear communication is key. You can’t repeatedly move the North Star as credibility will slide, but there should always be respect, albeit slightly begrudging at first, for not letting ego stand in the way of intelligent progress.