What Happens When Market Forces Intervene?

 

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

 

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

 

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…?

What Are You Doing In The Shower?

 

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

Celebrate Your Gift

 

Each year at this gift-giving time, I am reminded that we all have natural gifts.

Our challenge is to notice our strengths and work to enhance them. In my Vistage work, and as a leadership coach,  I refer to this as discovering and working in our genius.

While personal growth and development are part of living a full life, and after all this is what Vistage is all about, the successful CEOs and executives I know are the ones who work to become excellent at what they are already good at. And… these same successful people surround themselves with people who bring their own strengths, filling in the gaps.

As you reflect on your accomplishments for 2014, and think about 2015, take a moment and ask yourself:

  • What are my gifts? How did they serve me this year? How will they serve me next year?
  • What am I striving for that I could instead delegate to someone else?
  • What can I accept simply not doing?

Once we know and understand our strengths, and focus on them, we not only become more effective, we become more satisfied, and ultimately become better leaders.

Elisa K. Spain

P.S. This is the last post for 2014. Happy Holidays to all!  See you in the New Year.

Thanks-Giving

 

I love Thanksgiving. It’s my favorite holiday because it is celebrated by all Americans, regardless of their backgrounds. While the “thanks” part of Thanksgiving is so meaningful, the “giving” part is equally so.

We give thanks on Thanksgiving, go to the mall on Black Friday, and browse the web on Cyber Monday. Now, we have a day dedicated to giving back. On Giving Tuesday (this year on December 2), nonprofits, families, businesses and students around the world come together for one common purpose: to celebrate generosity and to give. In Illinois, Donors Forum, led by Eric Weinheimer (former member and friend of Vistage), is coordinating this initiative. They have one bold goal: #ILGIVEBIG, $12 million raised by Illinois nonprofits from 100,000 individual donors — in one day.

I also wanted to share…my matching gift opportunity.

Many of you know about my passion for The CARA Program, a true social innovator (the only social purpose organization nominated for the Chicago Innovation Award).
Right now, anyone who chooses to give to this mission, I will match that gift, dollar for dollar, up to $5,000 (total gift of $10,000).

 

To make a donation of any amount, click here.  (And, please add “Elisa Spain Matching Gift” in the comments section to ensure your gift is matched.)

Thank you in advance for joining me on Giving Tuesday with a donation to the Cara Program, or to the social purpose organization of your choice.

The Oft Unheralded Challenge Of Change

 

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

Leadership Quote: Finding Your Peer Group

This month’s leadership quote:

Your peer group are people with similar dreams, goals and worldviews. They are people who will push you in exchange for being pushed, who will raise the bar and tell you the truth.  They’re not in your business, but they’re in your shoes.  Finding a peer group and working with them, intentionally and on a regular schedule, might be the single biggest boost your career can experience.”

-Seth Godin

 Thank you Seth for reminding us why 18,000 CEO’s and executives belong to Vistage and why these same Vistage member companies are better run and grow their revenues, on average, at more than twice the percentage growth rate after joining.

Elisa K. Spain

The Other Side Of Success

Opt 3 Sept 21

When does confidence become hubris?

So much is written about the importance of confidence and yet, there is a dark ugly side too. We see it every day in the press – rock stars, sports stars, politicians and others, who have so much confidence that they begin to make choices out of hubris.

Well, we say, they are stars, this doesn’t happen amongst “regular leaders”. And, while we may want this to be true, my experience is, it happens in every arena where leaders are successful.

We all know the leader that made it big and acts as though s/he has the “Midas touch”. After the one success they believe everything they try, everything they touch will be the same. Or, they feel the need to tell everyone about their accomplishments, and they don’t feel the need to listen. After all, they already know it all; they accomplished what others have not.

We also know the leader who despite success after success is humble. Who, when asked how they accomplished what they did, points to the people s/he has learned from, rather than their own brilliance. The leader who is on a lifetime journey of learning, who believes no matter what their accomplishments, they can always accomplish more by listening to others.

Which of these describes you?

Which do you want to be?

If your choice is the humble leader, what are you doing to stay curious and continue to learn?

What Happens When Steady-Growth Companies Stomp On The Gas Pedal?

Opt 3 Sept 14

When steady-growth companies decide to stomp on the gas pedal, especially with new leaders, it is convenient to assume the “old timers” are just fine and will take care of themselves while all else goes to growth. Be wary of unintended consequences…

When a company is young – it is all about growth – and everyone is in the same place. It is all about hunting (in the hunter/farmer view of sales). When a company is in steady growth, there is a mix of hunters & farmers, with an emphasis on farmers.

 

Then when there is a shift to fast growth, frequently with a new leader and/or new ownership with a new approach to governance, the focus shifts back to hunting, as with a start-up.

 

Except, it isn’t a start-up. There still are these established relationships between account managers and their clients. The needs of the tenured account managers and their tenured clients are different from the hunters bringing on new clients. Similarly, long tenured employees in operations, and other support areas, are particularly impacted by the refocus on growth.

 

It is convenient for leaders to assume the “old timers” are just fine and will adapt, while all else goes to growth. Not true. We all want to feel valued and important.

 

So the question for the leadership of any established company on a fast growth path is, “How do you engage, (i.e. win the hearts, not just signatures on legal documents) of high performers and key clients?”

 

And the question for a board of directors is, “What responsibility do you have to steward the growth strategy in a manner that does not result in unintended consequences to the culture?”