Focus for Success - 3 - The Most Important Objective

At one point I worked for a very small financial institution which specialized in real estate lending. This was during a very litigious period where laws were being defined and redefined, often through the court system.

Pixabay

It was hard to keep up with the laws and like many small companies, we had some documentation issues which several customers decided to try address in a class action suit. While the suit never got certified, it took a great deal of work to build the mountains of documentation to take to court. And, that is where this story begins.

So, a small company with stretched resources. There were only a few capable of reviewing the documentation for potential errors or to provide a reasonable explanation to the actions taken. And of course, it fell to me to addresses this issue and to do it immediately. There was a lot of visibility and anxiety over this project.

Initially, I started very small, trolling the files one by one to see what if anything could be considered an issue. One file at a time, essentially a fishing expedition. Yes, I did have an idea of what I was looking for, but there was the potential for multiple permutations and I really needed to understand the big picture.

Within a few days, I had reviewed hundreds and hundreds of files and started to have a pretty good idea of what I was looking for. At the end of about three weeks, my daily grind had revealed the greatest risk which fortunately we could mitigate according to counsel.

From there a dozen temps were hired to re-review and document all of the files, not just the sample I had reviewed. We hired a big six accounting firm to help with the documentation and engaged a top-notch legal for representation in the court case.

So, why is this an example of success? I started small, one file at a time so that I could pull my thoughts together. Essentially focusing on the one thing that could make the effort a success. Identifying potential risks and possible mitigation. And it was truly a grind for long hours each day. But this focused effort paid off and allowed for an ever-expanding coordinated effort that was a success, albeit an expensive one.

One other point, everyone else, including the owners of the company, wanted immediate results, which was fair, but not reasonable given that I was the only resource initially available. But by taking my time and showing everyone daily focused results, it was evident that not only were we on the right path, but they had chosen the right person for the job.

Slow but sure won out. One step at a time made all the difference in this stressful situation.

Success is based on making every step effective by focusing on the most important objective for that step. Words by Guy Sellars

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