EP 70 - Pay the P.R.I.C.E

The concept of “Do Simple, Better” is a management philosophy that emphasizes the importance of simplifying processes and focusing on the basics to improve performance.

TRANSCRIPT

Paying The P.R.I.C.E.

The concept of “Do Simple, Better” is a management philosophy that emphasizes the importance of simplifying processes and focusing on the basics to improve performance. It’s based on the understanding that attention, time, and effort are valuable resources—akin to currency—that managers must spend wisely.

In a world where complexity is often seen as a sign of sophistication, this approach challenges leaders to resist their inherent bias towards making things more complicated than they need to be. Instead, it encourages them to embrace Occam’s razor, which suggests that the simplest solution is often the correct one.

To implement this philosophy, managers are encouraged to “Pay the P.R.I.C.E.,” an acronym that stands for Process, Routine, Inspection, Coaching, and Evolution. This means investing in high-value tasks, establishing supportive habits, being present in the process, providing guidance through coaching, and continuously improving and adapting.

By doing so, managers can lead their teams more effectively ensuring that they focus on controllable tasks and celebrate incremental progress. It’s a hands-on style of leadership that is engaged, positive, and collaborative, promoting best practices and providing real-time feedback.

In essence, “Do Simple, Better” is about stripping away the unnecessary, honing in on what truly matters, and executing it with excellence. It’s a call to action for leaders to invest their ‘currency’ in a way that yields the best returns for their teams and their organizations.