4 Incredible Leadership Systems Every Founder Should Know About
Building Startups by Ajay Yadav
The ‘No-BS’ BS Newsletter
4 Incredible Leadership Systems All Founders Should Know About
Happy Friday and welcome back👋
Leaders wear many hats, right from communication, strategic planning, prioritisation, decision-making, goal setting, giving feedback…the list goes on.
Cut to the chase, these 4 systems are absolutely worth checking out if you want to multiply your productivity, bring more structure to everything you do and optimise results.
Let’s go👇️
1. Pareto Principle
Also called the 80/20 Rule, this is more than a business strategy when you’re spreading yourself too thin:
“Roughly 80% of effects come from just 20% of the causes”
In business, this might mean:
80% of your sales come from 20% of your products.
OR
20% of your customers are responsible for 80% of profits
So, use the Pareto principle to:
Identify your most profitable products/services
Nurture your key customer relationships
Streamline processes that yield the most results
2. SMART Goals
Ever catch yourself and your team dropping goals that you initially set?
There’s one fundamental reason: Lack of clarity and objectivity in the goal.
A SMART framework is pretty simple, and highly effective in assessing and setting realistic goals. It includes five attributes:
Specific. The goal is concrete and attainable. Everyone knows what it looks like.
Measurable. The goal includes an objective measure of success that everyone can comprehend.
Attainable. The goal is difficult, but it is feasible with the resources available.
Relevant. The goal makes a meaningful contribution to larger objectives, such as the overarching mission.
Timely. The goal has a deadline, or more specifically, a calendar of progress milestones.
The SMART framework can find application in individual, team as well as project goals.
3. STAR Framework for Storytelling
Storytelling extends beyond marketing; it is necessary to know how to convincingly convey your point right from pitch decks with stakeholders to communication with the team.
The STAR Framework can be a great, simple tool to help you structure your story. It has 4 steps:
Situation: This is where you provide the context, including who, when, and where and establish the setting for the story.
Task: Explain the actual task or challenge that was involved. This should relate back to the circumstance, and include a frantic call to action.
Action: This is the action that you or your team took.
Result: These are the outcomes or results of your actions, highlighting your contributions and what you learned. This should include objective, quantifiable measures.
4. RACI Chart
Individuals are more motivated and likely to take responsibility when their roles in a project are clearly defined.
The RACI matrix categorises stakeholders into four roles:
Responsible. These are one or more individuals in charge of carrying out the outlined tasks in the project/initiative.
Accountable. There is only ONE person accountable for the success of the project or initiative. This individual is responsible for overseeing the execution, reporting back on the status, and being accountable to others.
Consulted. A couple of stakeholders consult at various stages of the project's implementation. Consultation involves reviews, suggestions, or criticism, but not direct execution.
Informed. A few stakeholders are kept updated on the project's development throughout its implementation.
That’s it for today’s newsletter!
Do you use any of these in your workflow? Share your opinions on LinkedIn or X, and tag me!
Keep subscribed, and spread the word around. I’ll see you in the next one :)