The 4 P’s of Performance

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If you have ever taken a marketing class you probably learned about the 4 P’s or “the marketing mix” as it is also known. There are also 4 P’s of Performance – four critical areas you must pay attention to as a manager or leader if you want your team to perform up to its full potential. These 4 P’s can even be applied to your personal life.

The 4 P’s of Performance are:

  • Priorities
  • People
  • Processes
  • Practices

Let’s take a look at each of these.

Priorities

When I work with business owners, managers and leaders in businesses of all sizes, I almost always find a common denominator – too many priorities or constantly shifting priorities. Imagine that you were going to plant a garden. Someone gave you 100 plants. You can plant all 100 of the plants but you only have enough water to water them once. Or you can plant 10 of the plants and water them 10 times. Which approach is most likely to result in the largest crop production?

In the book, The Four Disciplines of Execution, the authors, Covey, McChesney, and Huling contend that by focusing on only one or two priorities at a time, your rate of successful implementation will increase exponentially. This is the reason that choosing a theme or focus for the year (or at least the quarter) can be so effective.

The question to ask is: What is the one thing that we must accomplish to achieve our goals or realize our vision? Continue to ask this question until you drill down to one to three very specific actions that you can take right now.

People

If you are going to realize your vision – personal or professional – you typically are not going to be able to do it in a vacuum. The best way to achieve your goals is to align them with the goals of others so you are working together towards a common purpose.

Processes

Good systems and processes support people in doing their jobs consistently, effectively, and with minimum struggle and strife. Processes alleviate duplicate effort, wasted time and dropped balls. If you and your team are struggling with identifying, defining, and implementing effective processes, I encourage you to check out www.mycooresources.com.

Practices

Practices are about establishing a culture that supports you and your team in achieving the goals you have set. This requires an environment of trust where people feel psychologically safe so people can fully use their creative, innovative, problem solving skills. A study by Google dubbed “Project Aristotle” found that psychological safety is the single most important element to successful teams. And achieving psychological safety requires cultural norms that encourage people to express their opinions and feelings; ask questions; and respectfully disagree with the status quo.    

Would you like to explore more ways to develop the four P’s of Performance within your team and organization so you can optimize performance?  

I welcome the opportunity to talk with you and explore how our Five Point Performance Optimization Program might be a fit for you and your team. Call me at 972-701-9311 or email me at jchance@action-strategies.com today. I look forward to chatting with you.

Want more tips and resources to help you dissolve barriers to business success by unlocking the potential of your people and harnessing the power of teamwork?

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