One idea to improve your business today.

As I was re-reading Jim Collins' best selling book, Good to Great, I was struck by a quick passage that everyone should consider:

When teaching by the case method at Stanford Business School, I issued to each MBA student an 8.5"x 11"bright red sheet of paper, with the following instructions: “This is your red flag for the quarter. If you raise your hand with your red flag, the classroom will stop for you. There are no restrictions on when and how to use your red flag; the decision rests entirely in your hands. You can use it to voice an observation, share a personal experience, present an analysis, disagree with the professor, challenge a CEO guest, respond to a fellow student, ask a question, make a suggestion, or whatever. There will be no penalty whatsoever for any use of a red flag. Your red flag can be used only once during the quarter. Your red flag is nontransferable; you cannot give or sell it to another student.”

With the red flag, I had no idea precisely what would happen each day in class. In one situation, a student used her red flag to state, “Professor Collins, I think you are doing a particularly ineffective job of running class today. You are leading too much with your questions and stifling our independent thinking. Let us think for ourselves.” The red flag confronted me with the brutal fact that my own questioning style stood in the way of people’s learning. A student survey at the end of the quarter would have given me that same information. But the red flag—real time, in front of everyone in the classroom—turned information about the shortcomings of the class into information that I absolutely could not ignore.

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The red flag is your reality check; your tactic for keeping everyone on task and accountable for their actions, while delivering a sense of control to each member of the group.  They key is everyone receives just 1, there-by establishing value and creating a culture of self moderation.  If you use your flag, it best be for something of great concern to you, the team, or your leader/boss/partner etc...

If you match all three, you have no doubt identified your subject.

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So, each of you today has been given by me, one hypothetical red flag. 

You can use it for anything you like. 

You only get 1. 

Will you call out someone in the office who has failed to make a decision?
Alternate strategy for a product?
Reject a proposal that may harm long term growth?

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The red flag is just a tool.  The intention for it's use is what's important. 

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Incorporating a similar instrument or doctrine into your business will ensure you're vetting facts and confronting the most compelling and important aspects of the firm.  The use of an actual tool can be helpful, but the spirit and EXPECTATION that everyone is required to hold each other accountable can help you get things done.

Inject this, after you have the right people (right Jim?), and you may see dramatic results.

 If you have the stomach for it.
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What are you going to use your flag for?