Attitude Is What Matters (Even With The Economy)

by Elisa Spain1 Comment

 

When I watched this Brian Westbury video, The Triple Mandate, I was struck by the fact that several years into the current recovery, many business owners and investors are still worried. Understandable. The Great Recession took its toll on both our economy and our psyche.  The memory, while distant, is still fresh.

Yet, what struck me listening to Brian’s view about gradually rising rates, and an undervalued stock market; in short, his optimistic view, was how many business owners and investors, relying on emotion, may be missing opportunities.

Some questions to consider:

  • When has your attitude, either optimistic or pessimistic, caused you to miss an opportunity? Or conversely, saved you from a loss?
  • When making investment decisions, when do you follow the data vs. rely on your instinct?
  • Is the answer to question 1 different when it comes to making investments in your business (either human capital or equipment) vs. investments in securities?

 

Elisa K. Spain

Words Matter Part II

by Elisa SpainNo Comments

 

A few weeks ago, my post “Words Matter“, generated several responses. One reader reminded me, like with everything, there is another side. The side of being too politically correct. The place where we so carefully script our words that we lose any sense of real communication.

What to do? On the one hand, increasingly we hear words of hate and intolerance, on the other, more and more we hear words that are so crafted they don’t mean anything. How do we reconcile these two opposing trends in our society?

I wonder if the common theme between the two is a lack of authenticity? And…

  • If fear is what is truly present, rather than intolerance, how do we express this authentically?
  • Is it possible to be authentic and at the same time express tolerance of differences?
  • Is it possible to be authentic and be kind in the words and tone we choose?
  • Is it possible to express our fears and concerns while being open to hearing someone else’s truth?

 

Elisa K. Spain

 

 

Words Matter

by Elisa Spain1 Comment

 

We live in an increasingly diverse world, and at the same time it seems we have become increasingly intolerant. The more you look for signs of both, the more you will find it. Some say we need to simply stop looking so hard; I say we need to start looking harder.

Diversity is part of my core; I work hard to create diversity in my Vistage groups and in my personal life. I find people who are different from me interesting. I learn more from people who see the world differently from me than I do from those who see it the same. And, I find, for much the same reasons, diversity in a peer group creates a higher functioning group. When everyone is thinking and saying something different, the member has a richer experience, a richer opportunity to come to his or her own decisions.

So what does this have to do with words? We have a choice. We can work hard to live our lives surrounded by people who are exactly like us, listen to news that supports our way of thinking, and insulate ourselves from anyone and anything that isn’t aligned with our way of thinking and how we see the world.

Or, we can live in the world as it is, a mosaic of differences.

If we choose the former, we need only choose words that are in common usage in the community we align with. If on the other hand, we choose the latter, then words matter. Whether it’s that awful racist video from the SAE fraternity bus; or hurtful statements about Muslims based on the actions of Middle East countries; or simply making comments that are disrespectful; what is heard by the listener is what matters.

Sometimes the words can seem innocuous, and harmless. Expressions like “open the kimono” to some is simply a colorful way to describe being transparent. Others call it sexist and racist. Forbes included “open the kimono” in its “Most Annoying Business Jargon” bracket, wherein Bruce Barry, a professor at Vanderbilt University’s Owen School of Business, calls it “kind of creepy.”

Words matter in a diverse world, because if we want to be heard, we must speak in a manner that allows us to be heard. Words that are heard as inflammatory, cause the listener to stop listening and hear only the disrespect.

In short, if you want to be heard, choose words that allow the full mosaic of listeners to hear you.

Elisa K. Spain

 

What Happens When Market Forces Intervene?

by Elisa SpainNo Comments

 

Last week I wrote about healthy body, healthy mind = healthy business. One of my readers reminded me, there is a corollary. While, the CEO’s health can and does impact the business, what happens when the business faces market forces and impacts the health of the CEO?

On the one hand, what happens when the market cycle is a down cycle?

While we all would like to believe we can separate ourselves from what is happening to us, we know that, at least for most of us, that isn’t so. Losses in our life affect our well-being. And, business losses, which are part of our lives, can impact our sense of well-being and therefore our health.

On the flip side, what about when things are consistently good for an extended period of time? Do we become complacent, or what I call the “fat cat” syndrome? Life is good, so why not enjoy, enjoy, enjoy. And, when does enjoyment become a negative health factor?

Here’s the story of the reader who contacted me…

  •  Each time his business hits a tough cycle, competitors have gone out, his company dipped and then survived and then thrived each time – with new achievements. And, at the same time, while his well-being was impacted, feeling depressed, losing weight, he continued to focus on health and fitness. My sense is, his business recovery has consistently outperformed because he continued to take care of his mental and physical hygiene, even when things looked their bleakest.
  • And then when things are on an upswing, he began to relax; life feels good, he feels good. He continues to work out, and finds himself eating, traveling, enjoying more and gaining weight. Again, he is mindful of this result and once again begins to focus on health and hygiene.

I am grateful to this reader for reminding me that maintaining our mental and physical health is a balancing act that ebbs and flows, and to be mindful of the impact of both ups and downs.

Healthy Mind, Healthy Body = Healthy Business

by Elisa SpainNo Comments

 

I recently heard a CEO say “when I am healthy, my business is healthy”. And then over the weekend, I watched this TED talk Why We All Need to Practice Emotional First Aid.

I have been thinking about both the CEO’s statement and this TED talk in the context of CEOs I have known or observed over the years. My reflective observation is, he is right; there is a strong correlation between the health of the leader and the health of the business.

In the public company arena, we see the impact on stock prices when the CEO becomes physically ill.

In the private company arena, where most of the CEOs I work with reside, those that focus on their health and fitness are the ones that lead successful companies. I have watched CEOs move from poor mental and/or physical health to good health and back again and observed the company performance move in tandem.

While a component of health is genetic and beyond our control, research continues to show that lifestyle, nutrition and fitness are directly related to emotional and physical health.

So, as we go through our daily busi-ness, what can each of us do to pause, reflect and recognize we have a fiduciary responsibility as leaders to practice both physical and mental hygiene?

The Power Of Shared History

by Elisa SpainNo Comments

 

A couple of weeks ago I attended the Vistage Chair Conference and spent an evening with 9 senior women chairs. All of us were at the gathering at the invitation of one of the people present, i.e. we all knew at least one person and none of us knew everyone. We talked about a lot of things and then serendipitously began to share stories about challenges early in our careers. In the spirit of full disclosure, the stories mostly were about challenges of being young women faced with inappropriate situations in male-dominated companies.

A few days later I had a conversation with a male chair who is a longtime friend and mentor. I was telling him what a wonderful time I had with the other women earlier that week.

I told him about our shared history conversation and the direction it took. After telling him a few of my stories, he then shared his own stories from the other side. Such as when he was in a leadership position and falsely accused, offered sexual favors, etc. I was struck by the reminder that the more we share, the more common ground we find. And, that these stories are really about the personal side of business.

Like me and my women colleagues, my male colleague had several stories to tell. We talked about how these stories shape us, and that for women and people of color, because of the power equation, sometimes they shape us more.

I was struck by the value of shared histories in creating connections and overcoming stereotypes.

Wouldn’t it be cool to sit at a table with men and women, and people of all colors and backgrounds, and tell our shared histories of career and life challenges that shape the people and leaders we have become…?

Can A Focus On Culture Produce Financial Results?

by Elisa Spain1 Comment

 

In 2014, the theme for my Vistage groups was All That Matters is Culture. We talk about culture a lot in Vistage and we have several speakers that focus on this topic. Certainly we can all agree that focusing on culture creates a more consistent workplace. I say consistent, rather than harmonious, because as we learned from Vistage speaker, Edgar Papke, each culture is different – The important thing is to know what your culture is, hire accordingly and ensure your culture (inward facing) is consistent with your brand (outward facing).

And…when we went around the table at the end of the year, two of my CEO members shared that they had their best year yet (both had been in business 15+ years). When the other members asked the reason, both said, without hesitation, “because I focused on culture more than anything else this year. I got rid of the cancers. Everyone who is with my company today reflects the culture. I see it, the customers see it, and frankly to my surprise, the bottom line shows it”.

In one case, one of the CEOs fired his #2 producer. A risky move, so he thought. In fact, he even expected a down year as a result.  He decided the risk was worth it.

Good thing he took the risk because… he was one of the CEOs to report the best year ever.

Elisa K. Spain

What Are You Doing In The Shower?

by Elisa SpainNo Comments

 

Strange question for a post about leadership, eh? Here’s why I ask…. Used to be, we got our best ideas in the shower. Today, most of us are on the run. So much so that instead of just taking a shower, we are busy planning what is next; thinking about what has to get done.

And if we are in motion all day long, even during what used to be called down time, what is the cost?

  • To our businesses, to our creativity, to ourselves?
  • What opportunities are we missing by focusing only on what is urgent?
  • What might be the result if we allowed time for reflection?

Elisa K. Spain

What If You Can't Change What Is?

by Elisa SpainNo Comments

 

This blog is for those of us who seek to change injustice. What if we just found a workaround?

Outrageous? Perhaps not.

Some things that we perceive as wrong speak to the fabric of our soul, most of these fall into the category of social injustice. But, I am not talking about those issues.

What I am talking about here is business injustice. Those little, sometimes even big, things that happen in business that just aren’t right. At least, they aren’t right from our perspective. These situations happen most often when decisions are made by someone else that impact us or our team.

I heard the following story recently from one of the leaders I work with and was struck by the wisdom here.

The leader who shared the story told me that the compensation plan for his team was set at the corporate level and is based on several “factors”. These factors were to be evaluated and then bonuses paid based on performance against these factors. This leader was concerned because one of the factors required the team to act in a manner he felt was inconsistent with servicing the customers.

He has tried several times to lobby to change the plan without success. A few days ago in frustration, he shared his concerns once again with one of his colleagues who he hoped would work with him to get the plan changed. Instead the colleague said, “This is out of both of our control. While the plan includes these factors, it also allows discretion, my suggestion is you use your discretion to do what you feel is right”.

The questions that come to mind for me are:

  • How do we reconcile these things that are wrong?
  • How do we know which ones to accept and which ones to work to change?
  • And, if we are the one making these decisions that impact others, do we recognize the unintended consequences and are we open to change? Or at least open to a workaround?

Finally the key question, just because it is wrong or broken, does it have to be fixed? Or can we simply accept what is and find a way to make it work for us and our team?….

 

 

The Oft Unheralded Challenge Of Change

by Elisa SpainNo Comments

 

Leading change in an organization is full of challenges. Most of these challenges are associated with creating a vision, inspiring action, achieving buy-in, and sustaining the change. John Kotter, noted for his work on this topic, offers an 8 step process that offers an excellent roadmap.

I am noticing a 1/2 step challenge of change, that while banal, can derail a change initiative when ignored. This oft unheralded challenge is simply that everyone hears through their own filter, and therefore the actions we see are not the actions we expected. Obvious perhaps, and yet when leading change, we sometimes think that things are not happening the way we want because people are resisting.

  • Sometimes, they simply didn’t hear
  • or what they heard is different from what I thought I said
  • or they need to hear it more than once; 7 times I have been told is the magic number
  • or they need to do it more than once, or even twice, to “get it”
  • or we simply need to allow time for the change to settle in

So, next time, before calling out a “resister”, first pause and ask them what they heard.

 

 

Elisa K. Spain