A Tribute To A Great Man, Who Also Was A Good Man

by Elisa Spain1 Comment

Those of you who know me have heard me talk about my Uncle Leon as a model for a life well-lived. He died this past week, at age 95+. I will be attending his funeral on the day this blog publishes. It seemed fitting to write this tribute to him on this day.

Balaji Krishnamurthy, one of my favorite Vistage speakers, talks about L3, Leadership, Leverage and Legacy. For me, Uncle Lee accomplished all three.

He was an entrepreneur who, in his early twenties, founded the nation’s first convention exhibition business, Mannecraft Exhibition Services. In the beginning he worked with department stores to “exhibit” their store windows. Soon thereafter Mannecraft was setting up conventions across the country. When the company was acquired by a public company in the early 80’s, he agreed to retire at age 65.

Retirement for Leon was investing in young entrepreneurs, providing financing and wisdom to grow their companies. He worked on-site, hands on, with these companies. At the same time, he was fully engaged with his philanthropic efforts.

He was a leader in the Miami Beach chamber of commerce and Kiwanis and was recognized multiple times by both organizations as “Man of the Year”. When it was time to renovate the Miami Beach Convention Center, Leon led the multi-year project – pro-bono.

Leon always said he had only one regret, that he was not able to attend college. His parents could only afford to send one of their three children and his older brother, because he was older, got the opportunity. So… he started a scholarship fund to sponsor young people wanting a college education without the funds to go.

As a child, Uncle Lee was always on my side; and as an adult he has been the person I most want to emulate. While he was always there for advice if I asked, what I learned from him was more from what he did, than from what he said.

A few years ago my cousin and I were talking about Uncle Lee and she asked me, “what do you think you have learned from him?” As I reflected on her question, I created this list of seven “Leonism’s”. He made each of these seem easy and yet for me they are aspirational words.

7. Accept what you cannot do and do all of what you can.

6. Stay active, physically and mentally.

5. Make new friends all the time.

4. Move on – learn from mistakes.

3. Live in the present.

2. Forgive – yourself & other.

And, #1, Make the people around you feel special.

Uncle Lee was loved and admired by his family and everyone who was fortunate enough to know him. When he turned 95, over 100 people, of all ages, showed up to celebrate the man who, as my aunt said so well, “was someone people didn’t just want to know, they wanted to be”.

I will miss him and his legacy will continue to inspire.

Elisa K. Spain

Leading What We Don't Understand

Leading What We Don't Understand

by Elisa SpainNo Comments

2013-12-01 Who What iStock_000017953256XSmall

 

I have hesitated to jump into the Obamacare website discussion, however it provides such a great leadership lesson that I feel I have to. The lesson is this, even when I don’t understand, when I am the leader, I must lead.

Sounds obvious and yet, so often when it comes to technology and other unfamiliar areas, CEOs choose not to lead. In fact, otherwise effective leaders when they find themselves in situations where they lack familiarity, hire experts and then fully abdicate responsibility for leading these experts.

My sense from reading the press, is this is exactly what happened with the Obamacare website. If you read Kathleen Sebelius’ (Head of Health and Human Services) background, she has held many leadership roles, including Governor of Kansas, and at one time was considered a potential presidential candidate. Yet, at least from what I read, despite her strong leadership background, she hired experts to build the website, left them to figure it out and then hoped for the best outcome.

As Ms. Sebelius discovered in the most public way possible, even experts need to be led.

So, how do we lead when we lack familiarity? I was discussing this question recently with one of my Vistage CEO clients who had hired an expert to install a new ERP/CRM system, here is what we came up with:

  • Accept that it is my job, as the leader, to monitor and evaluate when I am responsible
  • Ask for a project plan with specific measurable milestones and agree on a regular meeting schedule to monitor these milestones
  • Ask questions, and when I hear an answer I don’t understand, assume more information is required, and ask more questions (rather than assuming I don’t understand because I am unfamiliar)
  • Ask the people on the line what they are concerned about
  • Get enough information to know when naysayers are change-resistant or if course changes must be made

What else would you add to this list?

Elisa K. Spain

What Are You Willing To Give Up?

What Are You Willing To Give Up?

by Elisa SpainNo Comments

White finish line text and lane on red running trackWhat are you willing to give up to get what you want? This is a question I often ask my Vistage members and coaching clients.

One of my favorite books on marketing, admittedly an old one, is The 22 Immutable Laws of Marketing by Ries and Trout. For me, many of these 22 laws are relevant to life as well as marketing. Law #13, The Law of Sacrifice – You have to give up something in order to get something, resonates for me in making life choices.

What I notice in my conversations with my clients is those that are willing to let go of something…. are those that move forward. They invent the new products, hire the person that is going to make the difference, take the next job or start the next business. These people are willing to give up something to get what they want.

The ‘give up’ may be something we believe, it may be fear (of failing, being wrong), or simply a comfort level with what we have or what we know. The ‘give up’ may be tangible, dollars that may end up as a sunk cost; or accepting that a long term loyal employee is not going to be the one to take the company forward.

In short, when we are talking about giving up something to get what we want, the key questions are these:

  • How much do I really want the “something” I say I want?
  • What am I willing to give up to get it?

Elisa K. Spain

Stay The Course…

Stay The Course…

by Elisa SpainNo Comments

2013-10-13 Hand on Ship iStock_000010063419XSmallStay the course….

How often have we heard this phrase, and at same time, how often do we react to what is happening in the moment and as a result lose sight of where we were heading?

Most of us want to be flexible and responsive to our constituencies be they employees, customers, shareholders, family or friends. And when we set a new direction or introduce a new idea, the reality is, we are often met with resistance. Change is hard and most of us resist change. When met with resistance, it is tempting to retrench.

In my experience, when I resist this temptation and stay the course, I have been rewarded.

Just recently, a speaker was presenting a new concept.  Some folks in the room were able to see the relevance to their business, but a few were not. The ones that could not spoke up and what the speaker heard was “my content isn’t relevant, I need to move in a different direction”. And when he and I spoke during the break, we agreed instead to stay the course. In the end, we were glad we did. In talking with the members afterwards, the vocal ones explained, “I just wasn’t getting it. All I wanted was help in making it relevant”. The others said they found great value in what they heard.

And, then Diana Nyad, gave us the best reminder of all. She had a goal, she stayed the course, despite folks telling her, “it couldn’t be done” and she was too old. And, after several attempts, tweaks along the way, she did it!

Huge leadership lesson here for me: When the vocal minority speaks up, listen, evaluate, help them understand the mission and then stay the course. The flip side, is not to listen when they see you are on a collision course, and that is a topic for another blog.

Elisa K. Spain

Trust Your Gut For The No…

Trust Your Gut For The No…

by Elisa SpainNo Comments

survey with exceeded expectations checkedOften when we are buyers, we find someone or something we like and then work to find data (experience, accomplishments, etc.) to convince ourselves why this person or this product is something we should buy.

When it comes to interviewing for key candidates, Vistage speakers, Barry Deutsch and Brad Remillard, recommend we take a more structured approach to interviewing to improve our hiring success. They recommend we start the process first by clearly defining the success factors for the role and then asking the candidate to tell us stories about how they have achieved this success in the past and how they will do it for us.

It dawned on me recently that this approach works in many (most?) situations when we are buyers. After all, when we are hiring, we are buyers.

So, am I saying no gut at all? All data? No. Absolutely, there is a gut to every decision we make, and in most situations, especially when we are buyers, trust your gut for the no. If something doesn’t feel right, it probably isn’t. When hiring, it’s the behavioral questions that help us learn if a person is a cultural fit. If a person’s style, ethics or values don’t fit, it doesn’t matter if they can do the job.

When committing our time or buying a product, isn’t it really the same key question?

  • What are my expectations (success factors)?
  • What is the data that supports that my expectations will be met?
  • Then the gut question: How does this feel?

Elisa K. Spain

Go Ahead, Drop Some Balls…

Go Ahead, Drop Some Balls…

by Elisa SpainNo Comments

High resolution image orange spheres. 3d illustration over white backgrounds.Just the other day, I was meeting with an executive acquaintance of mine who had just received a significant promotion. While he is excited about his promotion, he is challenged with looking for his replacement in his previous position; and in the meantime was doing both jobs. When I asked him how it was going, he responded, “just trying to get it all done, without dropping any balls”.

This conversation reminded me of one I had with one of my Vistage CEO  Advisory Board members. He was lamenting the challenges one his executives has with burnout. In this case, the CEO was saying “I wish he would learn to drop some balls, his effort to get everything done is what is causing his burnout”!

For those of us who want to dot every I and cross every T, (I admit I am one of them), the ‘to do list’ can seem endless. What I heard this wise CEO saying is, “go ahead, drop some balls”, just choose the ones you are going to drop.

What if instead of starting each day with a list of what we are going to do, we instead begin by removing from the list the things we aren’t going to do. Here are some examples to get you started:

  • What if you reviewed email once or twice per day, and let everyone know that is your plan?
  • What if you coded your email so that critical emails moved to a priority list and you responded to these first?
  • What if you paused and asked yourself, does this email, call, text, inquiry require a response?
  • What if you removed yourself from EVERY email where you were listed as a cc (or sorted these to a “someday maybe” list).
  • What if you paused, before saying “yes”?

Please send me your comments with ideas to add to this list…

P.S.  In honor of this post and my upcoming vacation, the next blog post will appear September 29th.

Elisa K. Spain

 

 

Managing Business Assets W/ Portfolio Management Risk Practices

Managing Business Assets W/ Portfolio Management Risk Practices

by Elisa SpainNo Comments

2013 08-06 Elisa Spain Risk Management


Businesses are assets, right? What might happen if we followed the risk management practices of portfolio management in running them?

The “portfolio managers” of our business are our leadership team, our key executives.  Business owners have a risk tolerance that leads them to be more or less involved in activities in their businesses.

What I observe as a Vistage chair and leadership coach is sometimes executives frequently feel either micromanaged or adrift and unclear of expectations.

When the business owners abdicate instead of delegate, only to jump back in when things are not going as they expected (but didn’t verbalize), this creates unnecessary risk; leads to outcomes we don’t want and drives everyone crazy.

What if, instead, owners and executives followed the same process as we do for our investment portfolios?

When we hire an advisor to manage our traditional portfolio of stocks and bonds, the first thing they want to know is the answer to the following two questions:

  1. Will you delegate full responsibility for managing your portfolio to me? or
  2. Will the account be co-advised?  Meaning, before I make a purchase or sale in your portfolio, I must consult with you?

When the owner of the portfolio chooses #1, the client and the advisor work together to design a portfolio that meets the risk tolerance of the client, the advisor constructs the portfolio and typically the advisor provides reports, usually monthly or quarterly, that inform the owner of the status of their portfolio. Additionally, the advisor’s reports include a comparison of their performance to that of their peer group.

Sometimes, the owner of the portfolio chooses #1, but instead of delegating authority, monitoring the performance of the portfolio, and periodically evaluating the portfolio manager; the owner abdicates, i.e. moves on to other things and ignores the portfolio manager.

I heard a sad story from a friend recently who chose option #1, neglected the monitor and evaluation part, and didn’t discover the result until he needed the money and realized it was gone. The advisor was not dishonest, he simply made poor investment choices.

If you decide to try this approach, here are some questions you and your executives might consider asking:

  • What decisions will the executive have full responsibility for?
  • Which decisions do you want to co-advise?
  • What risks are you most concerned about?
  • What kind of reporting works best for you? Written, verbal?
  • What do you want to monitor, and on what frequency?
  • How will my performance be evaluated?

And finally the most important question,

What is our agreement as to how to give each other feedback when the outcomes or the process didn’t go as we expected?

 

Elisa K. Spain

Leadership View #12: Watch For (Perhaps Unintentional) Malicious Obedience…

Leadership View #12: Watch For (Perhaps Unintentional) Malicious Obedience…

by Elisa SpainNo Comments

2013 07-14 iStock_000000937577XSmallLeadership View #12: Watch for (perhaps unintentional) malicious obedience…

Early in my career, I learned this valuable lesson. I had the opportunity to lead a transition of a client reporting group from a fully manual process to a fully automated process. This area was the last functional area to be automated in this company (guess that tells you how long ago this was). When the previous manager left in the middle of the systems conversion, I was asked to take over.

As those of you who have led systems conversions know, it is never a smooth process and there are many long hours that are just part of the process. On one of these long nights, the senior person on the team came up and asked me how to calculate a certain number. I didn’t know the answer, and I didn’t ask him if he knew the answer, I simply guessed. And, I ass-u-me-d, he would tell me if I was wrong. See previous post, What results when leaders Ass-u-me?

In this case the result was, every report, to every customer, went out wrong. Like, I said, I learned a valuable lesson.

Perhaps in this case the obedience was intentional. My sense is, it was not. Here was a man who was overwhelmed by change, his world was being completely turned upside down. He had never used a computer in his life and suddenly his work had to be done on one. It didn’t occur to him that how he had calculated this number before was the same way to do it on the automated system.

More importantly, I didn’t ask, I told. And, I didn’t lay the ground work for my being open to being questioned, I simply ass-u-me-d he would know.

I wonder, how many of the big disasters that we read about could have been avoided by the leader asking questions and making sure the team knows he/she wants to be challenged?

As you go through your day on Monday, I encourage you to pause and notice how you respond when someone on your team asks questions, and perhaps consider answering the question with a question of your own….

Elisa K. Spain

 

Leadership View #11: Hardest Task

Leadership View #11: Hardest Task

by Elisa SpainNo Comments

2013 06-23 iStock_000010450125XSmallLeadership View #11:

Hardest task – changing your leadership and management styles as your company grows or you go up the ladder. 

I often hear entrepreneurs say, “I don’t want to lose the culture as I grow this company” or “We are like a family, I want to keep this feeling as we grow”. And yet as the company grows the culture inevitably changes and the owner no longer knows the name and the family of every employee.

And, what the company needs as it moves from “go-go” to “prime” (to quote Vistage speaker Gerry Faust) is for the leader to change.

In the go-go period, everyone is equal and it is all about getting the job done, getting the orders out, meeting the customer needs. Typically the owner is the chief sales officer and innovator. And, then as a company adds more people and moves to prime, management becomes necessary and terms like “building a leadership team” come into play.

Suddenly the owner is thrust into a role of CEO and has people reporting to him or her who are focused on their own career path. These key executives want the opportunity to innovate and have an impact themselves. And, the CEO while still expected to define the vision, must also become a coach and mentor, allowing others to grow and develop as leaders.

At the same time, the folks who came to the company as experts and doers are often expected to become managers. And those that came to “manage” are expected to become leaders. The best operations manager who succeeded because he or she can implement processes must learn to think like an owner and take a broad view. These new roles and new ways of thinking require new behaviors as well.

Those that are able to change are those rare few that build and lead the less than 1% of companies >$100mm in revenue.

Elisa K. Spain

 

Laws Of Success: Perfection Of The Life Or Perfection Of The Work?

Laws Of Success: Perfection Of The Life Or Perfection Of The Work?

by Elisa Spain3 Comments

2013 03-17 Balance Work LifeiStock_000018217096XSmallThe Choice

The intellect of man is forced to choose
Perfection of the life, or of the work,
And if it take the second must refuse
A heavenly mansion, raging in the dark.
When all that story’s finished, what’s the news?
In luck or out the toil has left its mark:
That old perplexity an empty purse,
Or the day’s vanity, the night’s remorse. 

William Butler Yeats, 13 June 1865 – 28 January 1939

Elisa K. Spain