Leadership is About Decision Making
Summary
TLDRThe video script emphasizes the critical role of decision-making in leadership, highlighting the importance of making the right call despite limited information. It illustrates the consequences of indecision and bad decisions on organizations and individuals. The speaker introduces the concept of the '10x performer,' urging leaders to excel beyond average performance. The script sets a high standard for CEOs, stating that making 95 correct decisions out of 100 daily is essential to avoid being fired, underscoring the necessity for courage and skill in navigating complex paths to success.
Takeaways
- 📊 Decision-making is the most important job of a leader.
- 🤔 Indecision leads to more meetings and can result in politics and inefficiency.
- ⚖️ Leaders' decisions often impact many people and organizations, not just themselves.
- 🛣️ Today's decision-making environment is more complex and requires quick, accurate decisions.
- 💼 Failure to make timely and correct decisions can result in severe consequences like company failure or unemployment.
- 🏆 Professional environments demand high performance and results; average performance is no longer sufficient.
- 🔢 The formula for success involves mastering a technical craft and excelling in decision-making.
- 💪 A new norm in talent is the expectation of 10x performance.
- ⚠️ If either technical craft or decision-making ability is lacking, overall performance will suffer.
- 🚀 CEOs are expected to make around 100 decisions daily, with a high accuracy rate necessary to maintain their position.
Q & A
What is the primary job of a leader according to the script?
-The primary job of a leader is to make the right call in decision-making.
What common issue in decision-making is highlighted in the script?
-Indecision is a common issue, leading to more meetings and resulting in delays and inefficiencies.
How does indecision affect organizations, according to the script?
-Indecision leads to more meetings, politics, angling, and overall inefficiency, ultimately having a negative impact on the organization over time.
What qualities are essential for decision-making as per the script?
-Courage and the ability to make informed decisions with limited information (5% information) are essential qualities for decision-making.
Why is decision-making described as navigating in the script?
-Decision-making is like navigating because leaders need to guide their team or company through complex and fast-changing situations to achieve their goals.
What are the consequences of poor decision-making for companies and individuals?
-Poor decision-making can lead to the failure of companies, loss of jobs, and the shutdown of organizations.
How is performance measured in the context of decision-making?
-Performance is measured by the ability to make the right calls quickly and effectively, with the new norm being 10x performance.
What does the script suggest about the importance of mastering one's craft?
-Mastering one's technical craft is important, but it must be combined with effective decision-making to achieve high performance.
What is the '10x performer' norm mentioned in the script?
-The '10x performer' norm refers to the expectation that individuals should perform at ten times the average level to succeed and advance in their careers.
What is the threshold for decision-making accuracy for CEOs according to the script?
-CEOs are expected to make around 100 decisions a day, with an A+ CEO needing to get 95 of those decisions correct. If a CEO makes 15 wrong decisions a day, they should be fired.
What is implied about the role of decision-making in leadership effectiveness?
-Effective decision-making is crucial for leadership success, as it directly impacts the organization's performance and sustainability.
Outlines
🚩 The Crucial Role of Decision-Making in Leadership
The paragraph emphasizes the importance of decision-making as the primary responsibility of a leader. It discusses the negative consequences of indecision, such as excessive meetings and internal politics, and the necessity for leaders to be courageous and make informed decisions even with limited information. The text also highlights the impact of a leader's decisions on others, including an entire company, and the high stakes involved in making the right calls in a rapidly changing environment. The metaphor of navigating a bus through a complex road is used to illustrate the pressure and responsibility leaders face.
Mindmap
Keywords
💡Leadership
💡Decision-making
💡Indecision
💡10x Performer
💡Craft
💡Performance
💡Courage
💡Navigation
💡Pressure
💡Zero
Highlights
The number one job of a leader is to make the right call in decision-making.
Indecision leads to more meetings, politics, and complications.
Decision-making is the single most important job of a leader.
Bad decisions, including indecision, have a price to pay over time.
Good decision-making often involves being smart and brave.
Leaders must make decisions with limited information and be ready to adjust.
The current environment requires leaders to navigate complex and changing roads.
Failure to make timely decisions can result in severe consequences for organizations.
In the professional world, performance and results matter significantly.
The expectation today is a performance level of 10x; average performance is not sufficient.
Both technical craft and decision-making are crucial for high performance.
If either technical craft or decision-making is lacking, performance will suffer.
CEOs are expected to make 100 decisions a day and get 95% of them right to be considered excellent.
Making 15 wrong decisions a day can lead to being fired as a CEO.
Even not making a decision is a decision in itself.
Transcripts
we think about leadership we think about
the number one job of a leader it is to
make the right call decision-making and
I'm sure you're you're plagued and have
probably seen than part of all tons of
bad decisions
now that might show up in a sense of
indecision which probably is the more
common thing indecision leads to more
meetings right why don't we make a list
of follow ups and have another meeting
about the meeting and you have meetings
and meetings and meetings and then you
have politics that come in then you have
angling and you have everything you
could imagine decision-making is the
single most important job of a leader
and when they make it bad which usually
includes in decisions there's a price to
pay just shows up over time and when you
see people who make decisions well
usually words like that was really smart
that was really brave now at the point
of decision-making you have to be
courageous you have to take 5%
information and still make the right
call and then adjust those calls and
what's interesting about decision-making
today we love this graphic of the road
here in the upper right decision-making
is navigating you can navigate your own
life but you can navigate an entire bus
of people an entire company of people
your decisions as a leader oftentimes
impact more than yourself which I know
this group is very aware of except the
problem is the roads have changed and
the roads today look like that and you
have to go from the very bottom left to
the bottom right really fast in a timely
manner and if you don't you lose and
losing is not an option
losing is its death to companies death
to families unemployment organization
shutting down so under incredible
pressure and stress we're not talking
about an amateur sport thank you for
coming are you happy are you feeling
good I want you to drive where I take
your time just as long as you're driving
I'm happy now it's not about that this
is a professional sport performance and
results matter and you need to make the
right calls to navigate from one end to
another end and the bar is getting
higher and higher in the roads getting
more and more complicated
that's decision making that has to be
done right now
a very simple formula craft the craft
for a lot of our employees is
engineering some peeling things it's
sales account management it could be
project planning
you name your craft there's a technical
craft at some point somebody will master
over time and get better and better at
you multiply that craft by decision
making and then the new norm today in
talent is what we call the 10x performer
performance at 10x is the norm now if
you just do average you do okay I hate
to tell you you're not going to get
promoted you're not going to go far and
in fact you might actually get let go
that's the way the world works 10x is
the new norm and there's more and more
stories of this one individual who
brought a team who brought a company to
heroics of all sorts measured in every
metric you want to measure but what's
interesting about a formula that has a
multiplier is if one of the two is zero
your performance will be zero if you
have no craft and all you're doing is
decision making you will get a zero if
you have craft which is actually much
more common but you don't know how to
make decisions and you make too many bad
decisions now I'm not talking about
every decision you make is bad so the
question is what makes a zero so I'll
give you the bar they give CEOs of
companies and now not everyone's a CEO
but you probably have equal strength and
decision-making power depending on the
the size of the orders issue make
control they say for CEO is an average
CEO makes a hundred decisions a day
every day even the simple acknowledgment
non-response is a decision a hundred a
day if you want to be an A+ CEO you have
to get 95 correct consistently you can
get 5 wrong a day if you get 15 wrong a
day on average you should be fired there
is no room for be CEOs 15 wrong
decisions and you should be fired from
your post meaning that's what they call
a zero the standard is that high
out of a hundred decisions a day you
only get to make five wrong if you were
to be an a CEO and if you want to get
fired just add 10 more most of you don't
want to make decisions well that's a
decision too
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