What's The Best Way To Fix An Opportunity?

It is amazing how hard individuals work solving their problems. Some say that people really don't work all that hard. I actually believe people worked very hard indeed. But working hard is one thing. Working on the right thing is an entirely different matter.



Here is a great illustration of what I mean. I would like you to imagine a very emotional meeting. It took place in a family company.



It was a distribution company. For years they had leased their facilities from a third-party landlord. The meeting was about continuing to rent or building a warehouse. In addition to the question of renting or buying they had to decide how the property would be owned and by whom.



Would they create a new company to own property?

Would all the members of the family own the new building?

Could they use the current company to own the property?



I am sure there were many more questions. I'm not sure what the other questions were however.



The family members were on all sides of this question. One of the family members was in total support. A couple of others thought the whole idea was nonsense and were displeased they weren't consulted prior to the meeting. Another was quietly steaming and worrying about the family taking on a new mortgage.



The family member who managed the business was the one that brought the idea forward. In addition, two outside advisers were present. An attorney who was there to talk about legal issues. And, the company's account and was present to talk about financial issues.



With all these different viewpoints everything blew up. The accountant could see the meeting was really about relationships and nothing about finances. Everyone in the meeting did focus on the question of renting or building a new building. The problem was no one had agreed if it was the right question to be discussed at all.



Maybe you've been in a similar meeting. The agenda of the meeting isn't the issue. I'd like you to think instead about the overall idea of holding a meeting like this one.



What I'd like you to think about is that this point. Is this the most important thing this group should be discussing at this time?



Chunk up or drill down?



I suspect the phrase "drilling down" is not unfamiliar. When we drill down we are dealing with the layers and looking under the surface. When a problem arises or opportunity materializes most of us will jump in and get right at it. Sometimes getting a right to work in an issue is not the right thing to do.



You may not have ever heard of the term, "Chunk Up". The term means to get higher or above an issue. Get at a higher elevation in order to see the entirety of the situation. In our example, it gives us the opportunity to see this particular problem and how it it fits in the overall.



As it turns out in the illustration we used here, this would be the right thing to do. Everyone needs to take a broader view.



First, this family needs to decide what their vision is. Then what will be the overall strategy they operate their family business within. Their first step is to step back and reach and mutual understanding about their overall strategic direction. Actually they didn't need to spend any time at all on the issue of the building. The question of renting or buying is a tactical decision. Once they decide strategy they can focus on tactics like renting or buying. Plus, owning a building at all could be a major time consumer. The economics of it may not matter at all.



It's a natural tendency for people to jump in immediately and try to solve a problem. The trouble is the problem that appears in front of someone may not be the real issue.



The first step is to determine what the real issue is. Great deal of time, energy and money is expended when people work on the wrong things.



Wrapping this idea up, it's usually best to take a big picture view first. Once you understand the total landscape then drill down. Then, if the situation at hand fits, address it. Ignore things that are out of sync with your big picture..



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