New leaders tend to want to focus on the problem areas and figure out how to solve them. Thatâs commendable, but not if it comes at the expense of sustaining your success in existing areas of strength. Dan Kelperman, who skillfully avoided that trap after joining Kodak, offers some helpful advice: âIf you come in and discover that one of your growth businesses is struggling, give it big-time attention. But donât ignore your cash cow, which may also be struggling. The key is to keep all the plates spinning simultaneously. In other words, devote ample time to all the key businesses to ensure greater success.â
The same warning applies to people. Itâs natural to concentrate on getting your bottom people up or out, but you must remember to focus on retaining, motivating, and developing your top people, too. Spend as much time on your winners as on your problem children.