When I engage with executives, I want to quickly evaluate their frame of reference. Do they respond from a transactional or strategic perspective? Here’s a great example you can try:

“How’re we doing?” you ask.

It’s a very simple question but the response tells you everything you need to know.

Let’s use the head of Finance as the example:

If the response is like -> “here’s the recent balance sheet, income statement, and cash flow statement”….you’ve got a transactional person. “Let me give you the data so you can interpret it”

If the response is like -> “we’re 10% ahead on revenue YTD but over budget on expenses by 15%. We have 3 projects underway to reduce expenses and expect to close the year up 2.5% above our EBITDA target.” This is a more strategic response.

Train your executive team to think and look at things from your perspective.

You’ll grow them to be more than transactional management, they’ll become strategic leaders.

Rich Hall

Business Coach

Rich Hall Group

Originally Published on https://www.richhallgroup.com/blog

Rich Hall Certified Exit Planning Advisor | Business Advisor | Baby Boomer

Rich is a Certified Exit Planning Advisor (CEPA) and business advisor with substantial experience in business coaching, advising, leadership development, business valuation, value acceleration, succession planning, and more. Rich is also a certified Baby Boomer!

​He is a member of Silver Fox Advisors, facilitates CEO Roundtables and nationwide mastermind groups. He was recognized as one of the Top 15 Coaches in Houston in 2022.

​Rich earned his undergraduate degree in Management Science from Georgia Tech, his MBA from the University of Houston, and his CEPA certification from the Exit Planning Institute.

He is the proud father of three sons, Jeremy, Mark, and Daniel, the grateful husband to his wife Jamie, and best friends with Bucky and Riley (dogs).