7 Questions Every Leader Should Ask

Lee Iaccoca led Chrysler from bankruptcy to profitability and a future. One activity he credited in his book, IACCOCA, for this success was the practice of what I call "Sanctuary."

Each Sunday evening Iaccoca would remove himself from the family to sit in his study for two hours to review (1) How well did I do on my list of important activities this past week;  and (2) What do I need to get done this week to keep Chrysler moving forward?

Sanctuary time is uninterrupted time to THINK.  No email.  No phone calls.  No texting or instant messages.  No interruptions.

Here are 7 questions every leader should ask in Sanctuary as you close out 2014 and move into 2015:

#1  Foundation:  The foundation of great decisions is my process for receiving and processing information against my core beliefs.  What are my core beliefs and how can I change my decision-making process to improve my performance from today forward?

#2  Bad Habits:  Everyone has bad habits and they never go away. What are my 1-3 worst habits and how do they hurt my career, financials, and personal life?

#3  New Habits:  Bad habits stay with us, but they can be overpowered by new behaviors.  What new habits / routines can I put in place to overcome my bad habits?

#4  Relationships:  Even if I have strong relationships, there is one that could be better.  What is one personal relationship that I want to improve?

• Who
• How
• When (Define a scheduled plan of 7 activities or less to be a better friend and create memories.  Should this plan be recurring?)

#5  Spending:  Money is freedom, yet prudence today expands opportunities tomorrow.  Where am I spending money personally that is negatively affecting my life and/or retirement, and when + how am I going to stop?

#6  Financial:  Even the most successful companies need to regularly evaluate what they are getting in return for the money they spend.  Where is my company spending money that is not justified by the ROI - the financial and/or time return on the investment - and when + how am I going to stop?

#7  Threat:  For most people, death is unplanned as is a terrible injury or illness.  If today I had a terrible injury or found out that I have a terminal illness... What is my bucket list, with a schedule?

Even making one change per question can yield substantial results.  Once you get these issues in order, then you can move on to the next 7 challenges.  

P.S.  You should seek the counsel of at least one person you trust before implementing your answers.

Don't wait.  Take Sanctuary time this weekend to answer these 7 questions and act upon your answers.  You will be glad you did.