Archive for the 'Business' Category

Attitude of a Leader

May 18th, 2012


Leader is more than a title; it carries a responsibility.  Leaders come in all sizes, shapes and colors and they bring a myriad of attitudes to the position. Their responsibilities are numerous, requiring that they possess certain qualities and skills in order to be successful. Many skills can be developed through training but personal qualities are innate.  Training can compensate for some, but not necessarily all, shortcomings.

A successful leader has an attitude that shows his or her desire to make the company successful.   At least these attitudes are needed to be successful.

*Commitment to taking massive action. This means the leader takes action beyond ordinary ones in order to achieve results. Sometimes the appropriate action is awkward, i.e., terminating a friend or relative who is not performing.

*Control over ego and desire for status. An effective leader realizes that results are more important than being known as the key person.  A successful leader builds a strong team and is not concerned about who gets the “pat on the back.” As a matter of fact, it is preferable that a member (or two) gets the credit. A successfully performing team makes the leader look good.

*Trusting the team that has been built. Having the trust and support of the leader is paramount to building a stronger team. The attitude that “No one can do it as well as I” will intimidate some employees and lessen the desire of others to develop and grow.

*Taking risks and dealing with imperfect information. At times leaders need to get outside of their comfort zone and take calculated risks.  Always staying in the “safety zone” can stymie growth.

*Willingness to be unpopular and face conflict. Conflict is never pleasant but at times is unavoidable, particularly when dealing with employees who seem to be performing at less than their potential.  A good leader develops a level of comfort in dealing with conflict so that conversations about expectations and performance can be constructive.

*A balance between monitoring and the need to control. Finding the right balance between micromanagement and abdication may require the leader to develop the attitude of “controlled surrender” or “interested detachment.”  Observe but do not be overly anxious to step in and take over.

Having the right attitude will allow leaders to contribute to building strong businesses that can run without the need for the owner to have in-depth involvement on a day-to-day basis. This allows the owner to perform more effectively as a CEO while the managers are effective at their level in the organization.

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When do your values lead the way?

March 30th, 2012


This is from Healthy Companies, an on line publication to which I subscribe. I thought this was worth sharing.

A Goldman Sachs executive director resigns, calling the company’s current culture “toxic and destructive.” A United States Senator announces her resignation, saying that the Senate “is not living up to its billing…and routinely jettisons regular order.”

These surprising and very public assertions are the result of one thing: Both institutions purport to embrace a particular set of values while simultaneously allowing destructive habits to take hold—a tell-tale sign that an organization has lost sight of its higher purpose. To be sure, living up to any higher purpose can be difficult and may even seem trivial at times. And while they may not be so public about it, there’s a good chance that many people in your organization feel like Greg Smith from Goldman Sachs or Olympia Snowe of the US Senate. That’s why it’s essential to continually assess whether you and your team are working—in action and in deed—toward the company’s true north.

What Great Leaders Know
Great leaders know that moments may arise when they have to take a stand for their values or give voice to the greater good, even if taking that stand requires a significant personal or professional sacrifice. Though it can be difficult, especially within large organizations, to see the impact of this stand individually, great leaders know that leading by example can have an impact larger than what is visible. It sends a message that regardless of your position, you can ensure that you and your team are adhering to your collective values.

What Message Will You Send?
It’s difficult to know when you’ll be confronted with a situation that challenges your core values. In today’s fast-moving and interconnected world, it’s important to always act in ways consistent with advancing social goals. If you manage to do that, you’ll be making your organization—and the world—a better place.

 

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Know When It’s Time to Let Go

November 27th, 2011


For the last few days in May 2011, millions of people waited with great anticipation to see the final episodes of the Oprah Show. She had decided, after 25 years, to end her very popular daytime talk show to move on to other interests. Many questioned why she would leave a show that has had such success.

Moving on is often a difficult task; whether it is moving to a new job, getting into or out of a relationship or moving away from home. There are so many uncertainties it can be paralyzing. Athletes find it difficult to end his career even when they have been injured or have passed their peak performance. Entertainers hate to leave the limelight when all signs point to declining performance. Entrepreneurs are guilty of staying too long even when their presence is detrimental to the business.

From my own personal experience, it was hard to let go of a business I had birthed and nurtured to maturity. It’s like letting go of your child.  There is never a good time to leave but usually there are signs that there is time for a change. After twenty-five years of operating the business I founded, I sold it. In hindsight I should have exited the business three to four years earlier. Some of my signs were:

1. No longer enjoyed going to work, the passion was gone.

2. Began abdicating some responsibilities

3. Avoided dealing with changes in the marketplace.

4. Reluctant to invest in growth strategies.

These were all key elements in maintaining the business on its successful path.

At some point it is time to let go. Some things may allow for a long planning process about how the change should be made.  In other situations decisions may need to be made quicker. As an entrepreneur, there is time to plan to exit your company if planning is begun early in development of the business.  Reasons to leave a company will vary. i.e. the passion may be gone, as in my case; illness or death may occur or a myriad of other reasons.

I had begun developing a succession plan a few years before selling the company but “dropped the ball” in the process and did not complete it timely. Therefore, when I knew I needed to leave, my options were limited.  I advise clients to begin working on a succession plan soon after starting the business. Having a plan in place does not mean it has to be implemented but if there is no plan your options are limited. Some things to consider are:

 

*Who is capable of taking over the business?

*Are there family members capable and interested?

*What role do you want to have after leaving the day to day operation?

*Is an employee stock option plan a possibility?

*Is selling part or all of the company something to consider?

Getting adequate answers to these questions takes time and usually requires some outside professional help.

Deciding to “let go” of your company many mean retirement or just give you the flexibility to whatever you desire. I tried retirement for a while but it did not agree with me. I, therefore, got involved in other business ventures. As we know Oprah did not retire but is operating her own network. She had a planned strategy. As successful as the Oprah Show had been she heeded the signs.

If you are an entrepreneur, put in place a plan to exit your business, whether or not you use it.

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Wisdom

October 21st, 2011


Over the course of our lives, we all have successes, disappointments, hardships, failures and other things that shape our character and help to develop wisdom. Wisdom is acquired over time based on a variety of experiences. I once had a pastor who said that youth and wisdom do not reside in the same body. There is some truth in that statement but wisdom does not automatically come with age. Instead, it depends on your ability to bring into play the experiences from all that life has handed us.
I speak from experience. As a young girl, growing up on a farm in the South, I wanted nothing more than to leave that farm when I became 18, an adult, and head to New York City. I knew what was best for me – or so I thought- and more education was not it! It took about four years of struggling to survive in the “big city”, working menial jobs and living from hand-to-mouth before I realized that an education was the key to a better life. For me, it took the experience of struggling to survive in the “big city” with no salable skills that caused me to wise up. My life is full of experiences that have helped me to become wiser and it has not ended yet.
An examination of your experiences on the journey of life will certainly pinpoint some situations where you did not make wise decisions. What did you learn from that experience? There is the tendency to classify things as “failures” when it can be a warning to do something different. A failure is that only if you learn nothing from the experience. So wise up.

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When the Unexpected Happens

February 23rd, 2011


Imagine my excitement when I was asked to be the keynoter for the Martin King lecture at Smith College, a place I had been trying to make inroads. Scheduled to speak at 4:30PM, I agreed to take an early flight (7:00 AM) to arrive at the airport at noon. After a 1-hour drive to the hotel I would have a couple hours to relax.

My flight from Sarasota, FL left on time, scheduled to arrive in Atlanta at 8:43 with a connecting flight at 9:40. Just before we were to begin our descend into Atlanta, the pilot announced that we were in a holding pattern because of fog in Atlanta. Fifteen minutes later we were cleared to land only to be told a couple minutes later that we had been put in another holding pattern.  I was now concerned about my connecting flight but assumed that because of fog planes were not taking off either.  Fifteen minutes later we were cleared to land.  I walked into the airport at 9:10, 30 minutes before my connecting flight. Hurriedly I checked the monitor for the gate of my departing flight only to see in big red letters CANCELLED.  What do I do now?

I contacted my speakers bureau to advise them of the situation. The next scheduled flight was at 12:25 PM – 25 minutes after I was scheduled to arrive. The new arrival time was 2:51PM.  An hour’s drive to the hotel would put me there at the about 4PM. My two hours to relax was now gone. Here I was in Atlanta, dressed in a jogging suit, sneakers, a cap and no makeup. My mind went to work. With no time to go to the hotel, where do I change clothes? I attempted to get a pass to the airline Sky Club but was denied.  My only option was the restroom. I had been given a meal pass for breakfast, so after eating I went to my dressing room – the handicap stall in the women’s restroom. I did not feel guilty using the handicap stall (there were 2 vacant) because at that time I really felt handicapped.

After my quick change, I waited in the waiting lounge to board the overly booked flight which left on time. Arriving on time I sprinted through the airport to meet my limo driver. He was nowhere in sight. After playing telephone tag for awhile we finally found each other.  Once in the car, I asked where he would be taking me on campus.  His response “I’m taking you to the hotel”. I explained there was not enough time for that and asked him to call his contact at the school to find out where to deliver me. I, in the meantime called my speakers bureau to have them also make contact with the school. We finally worked it out and I arrived on campus at 4:15.

With the exception of my contact person at Smith no one knew what had happened. I delivered my message, had dinner with students &staff, and finally made it to the hotel at 9:30PM. I had gotten up at 5AM. The school had a fruit basket awaiting my arrival.  That was my breakfast the next morning when I got up at 3:45AM to catch a 6:15 flight.

By the way, the reason my flight was CANCELLED was “That plane was not available”. Explain that!!

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