Rose O. Sherman, EdD, RN, FAAN
“Execution matters but timing may matter even more” Bill Gross, President and CEO of Idea Lab
Recently, I watched a new TED talk on The Single Biggest Reason Why Startups Succeed The speaker was Bill Gross, the CEO of Idea Lab – an incubator for hundreds of startup companies over the past two decades. He wondered why some startups succeed and others failed. Could it be predicted? So he analyzed the companies that were incubated in Idea Lab as well as others like Uber and YouTube. He identified 5 key components that mattered to success including: the idea, the plan or execution, funding, the team and timing. All were important but in his analysis, Gross found that 42% of the success of a startup could be attributed to timing. Some of the companies in his Idea Lab had great ideas, funding and execution but the market was just not ready for it. This same principle extends to any initiative that you plan to implement. Sometimes the timing is perfect and the initiative soars. Likewise, most of us have had the experience of a launching a great initiative with a great plan but the organization was just not ready for it. How often during strategic planning sessions does the question about timing come up? My guess is rarely and leaders would be wise to consider the following five questions:
1. Do I have a good grasp on the organizational climate?
Sometimes the organizational climate may not be ready for new initiatives or change. I recently visited with a new Chief Nursing Officer in a small rural hospital. She had identified many professional practice issues that need to be corrected but observed, ” I have to pace what I do here. Change needs to be implemented more slowly than I would like but it is the culture”. Astute nurse leaders carefully study their organizational cultures, and are not tone deaf to what is happening in their environment.
2. What are the competing factors that could influence success?
Sometimes great ideas cannot gain traction in organizations, because there are too many competing factors in the environment. Several years ago, we launched a Novice Nurse Leadership program in our community. The program was designed to help new graduates transition in their first year of practice. Initially, our clinical partners were very enthusiastic as new graduate retention was a significant problem. Over time as the economy changed, there were many other competing priorities and participation in the program declined. The program had excellent outcomes and there was still a clear need but times had changed. Recruitment and retention were no longer a high priority as turnover decreased, and hospitals focused on their financial survival.
3. Do I have the experience to launch this initiative and the confidence of those who will be impacted?
It is often said that the right action at the right time by the right leader can result in incredible success. Winston Churchill was a classic example of this type of leadership during World War 2. In describing his leadership during that time, he is quoted as saying that “there comes a special moment in everyone’s life, a moment for which that person was born. That special opportunity when he seizes it, will fulfill his mission – a mission for which he is uniquely qualified. In that moment, he finds his greatness. It is his finest hour.” There are times as a leader when you need to decide whether you are the right person to accept a certain leadership role, drive a change in an organization or implement a new project. The answer could be yes, but it may also be no. Leaders need to have the wisdom to know when the time is right for their leadership.
4. Have I created the conditions for success?
Projects sometimes fail because of inadequate preparation. As a leader, you may need to delay an initiative until you are sure that you have set your team up for success. Many health care agencies have introduced Electronic Health Records over the past five years and quickly learned about the importance of timing in rolling out their initiatives in a way that ensures success.
5. Have I carefully listened to my own intuition about timing?
Leaders are often very excited about their initiatives, but sometimes know in their gut that there are problems. Seeking Magnet (TM) designation presents an interesting dilemma for some nurse leaders. Organizational readiness and demonstration of all five components of the Magnet Model are key factors. Several Chief Nursing Officers that I know have put the brakes on their Magnet applications because they felt from a timing standpoint, the organization was just not ready. This required leadership courage but wise leaders learn to listen to their intuition.
John Maxwell observed that “the wrong action at the wrong time can lead to disaster. The right action at the wrong time can bring resistance. The wrong action at the right time is a mistake. The right action at the right time leads to success.” Timing really matters in our leadership practice and it is a fine art.
Read to Lead
Maxwell, J.C. (2007). The 21 Irrefutable Laws of Leadership. Nashville: Thomas Nelson Publishers.
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