Vision Is Not Enough…

by Elisa SpainNo Comments

 

Successful leaders have both vision and execution.

Lots of people have great ideas, and in my experience, it’s execution that creates success.  Why ‘Big Picture Only’ Leaders Fail.

And, what exactly defines execution? Last week, I began a conversation about one of the key components of execution – Capacity: Is It Capacity Or Is It Making Choices?

Continuing that theme, equally important to execution is Focus.

Successful leaders know they must set a vision – so there is a destination that their team can rally around. Once the vision is defined, they work with their team to set a business strategy to achieve the vision and then, they and their teams….

Focus, Focus, Focus on what needs to happen to get from here to there.

Successful leaders are able to tune out distractions and focus on moving forward. They have the ability to differentiate between a distraction and important new information and act accordingly. They know what needs to get done, how to do it and, they have the ability to inspire their teams to stay focused and avoid fatigue when things don’t move at the pace they want.

More on execution in coming weeks.

Elisa K. Spain

 

Vistage CEO Confidence Index: Concern Due To Economic Slowdown In Q2 2015

by Elisa SpainNo Comments

 

The quarterly Vistage Confidence Index is now available.

CEOs concerned by slowdown in economic growth.ci-q215

The 1,434 U.S. CEOs surveyed from June 8-17, 2015 in the Q2 2015 Vistage CEO Confidence Index expressed greater concern about the dismal pace of 1st quarter growth in the economy, and more importantly, did not anticipate the same strong rebound as occurred last year. The Vistage Confidence Index was 99.0 in the 2nd quarter of 2015, below the 1st quarter’s 105.8 and last year’s 101.0. The recent economic weakness was due to temporary factors, including a harsh winter, a port strike, and a surging dollar.

Even though most CEOs anticipate continued economic growth, there is a widespread sense that the economy is still vulnerable.  The recent decision by the Fed to hold interest rates near zero also reflected that same potential vulnerability. As a result, firms anticipated slightly less growth in their sales revenues and profits, and planned on adding slightly fewer workers to their payrolls and marginally reducing the pace of their capital investments. CEOs can be best described as cautiously optimistic.

Below are some key highlights from the Q2 2015 Vistage CEO Confidence Index (all members surveyed):

  • 46% of CEOs reported that the economy had improved, down from 61% in the 1st quarter.
  • 35% of CEOs anticipate an improving economy in the year ahead, down from 45% in the 1st quarter.
  • 35% of CEOs said that locating, hiring, training, and retaining staff was their most
    important task, cited twice as frequently as any other issue.
  • 46% of CEOs plan to increase investments in new plant and equipment, barely below last quarter’s 48%. Investment plans were on average more favorable during the past six quarters than any other time since the peak years of 2004-05.

Elisa K. Spain

Is It Capacity Or Is It Making Choices?

by Elisa SpainNo Comments

 

Working with CEOs over the last dozen or so years, I observed several common traits in those who successfully grow their businesses. I have written in the past about the importance of having a vision, having the right people, and having strong execution. Another more subtle characteristic shared by successful leaders… They seem to have an incredible “capacity”.

Webster defines capacity as…

  • the potential or suitability for holding, storing, or accommodating 
  • an individual’s mental or physical ability
  • the faculty or potential for treating, experiencing, or appreciating
  • the facility or power to produce, perform, or deploy:  maximum output

It’s this facility for maximum output that I am referring to. The ability to take on more, to handle more stress, to be present regardless of outside circumstances, to simply do more. It’s more than ability, it’s well, capacity.

And, here’s what I observe… while it appears that these leaders can simply handle more and do more than others, it is also their ability to choose. To make a choice and accept that when they choose, they may disappoint someone. And, they allow themselves to be okay with that.

Elisa K. Spain

Leadership Quote: What Is Important Is Seldom Urgent…

by Elisa SpainNo Comments

 

This month’s leadership quote:

“What is important is seldom urgent and what is urgent is seldom important.”

-Dwight Eisenhower

 

Mother Theresa, Steve Jobs, Benjamin Franklin and other great leaders, past and present, all had the same 24 hours in a day that we do. And, yet we yearn for more time. “If only I had more time,” we say, “I could accomplish so much more. I could do the things I really want to do. I could have more balance.”

What if, instead, we simply paused each day and asked these two simple questions that Benjamin Franklin asked himself at the beginning, and at the end, of each day:

• What good can I do today?
• What good have I done today?

What if we then set out to prioritize our day, according to the Eisenhower quote above. Making immediate time for the urgent/important, saving time for the important/non-urgent, ignoring the non-urgent/non-important and then delegating the urgent/non-important?

How would you feel if you could answer Mr. Franklin’s important question, to your satisfaction, at the end of each day?

Elisa K. Spain

Consensus Gives You Beige

by Elisa SpainNo Comments

 

When a leader asks for input and then makes a decision, the result is vivid color, i.e. a better decision. It is a better decision for lots of reasons.

First and foremost, your team feels valued when they are asked to participate in the decision process.

Second, there is value in the wisdom of crowds; many times the group will surface ideas that the leader hasn’t thought about. As a Vistage Chair and leadership coach, I see this happen each month during the executive sessions I lead with CEOs and Key Executives. This, of course, is why nearly 20,000 people around the world are members of Vistage – because we know the value of seeking input from others.

Where it all goes awry, is when we seek consensus either from our team or from our Vistage group (or our family, friends, etc). With consensus all the colors get mixed together, resulting in a dull beige, i.e. a mediocre, watered down decision.

Sometimes this may be okay, when the goal is more about participation that it is about making decisions. The key is being mindful of your goal.

So, the next time you are asking for input, ask yourself, “is it vivid color I want or is beige okay?” And, if it is color you want, don’t settle for beige. Make the final decision yourself.

Elisa K. Spain

 

 

Oops, I Wish I Hadn't Said That, I Wish I Had Done This….

by Elisa SpainNo Comments

 

Back in elementary school, when playing sports, we often were allowed a ‘do-over’. As we got older, coaches and teachers stopped allowing this. The ball had to be played where it was. I suspect the reason for this was to “prepare us for life”. And, so we learned, no ‘do-overs’, if I screwed up or forgot to do something, too late, can’t fix it.

  • While, there must be rules in games (no way to score if there are not), does everything in life have to play by these same rules?
  • What if when we said something we wished we hadn’t, we simply went back to the person and said, “I am sorry, I wish I hadn’t said that, what I wanted to say is this…”
  • What if we wanted to do this, we went back and simply did it?

In short, what if we started with the premise that nothing in life is irreparable or irretrievable, except death. While certainly words matter, see my blog of this same name (Words Matter), actions speak loudly and ‘do-overs’ are a great way to take action and demonstrate intent. Another way to think about it… it’s not what you do, it’s what you do next.

Elisa K. Spain

 

 

Who Gets To Decide?

by Elisa SpainNo Comments

 

Just about every leadership book and every leadership speaker talks about the importance of allowing people to fail. The concept is: true delegation does not occur unless and until I allow people to make their own decisions, take their own risks and succeed or fail on their own.

Easy to say, hard to do, on so many levels. Some of the common questions are:

  • How much risk should I allow them to take?
  • What if I am certain they are making the wrong decision; a decision that is going to cost me money, put the company at risk, put the person at risk, etc. How can I simply look away and allow the failure to occur?
  • How many failures are okay?

Lately, I have come to realize this question, who gets to decide, applies in our business life and in our personal lives. It applies to our children and to our aging parents. Just recently this realization was brought home to me with the following stories.

The teenage son of a friend is more focused on sports than on his homework, a familiar story. Mom says, “we have to make him do his homework”. Thus ensures a fight between mom and son. Dad says, “let him suffer the consequences if he chooses not to do his homework”. Who gets to decide? Who is “right”?

The 89 year old father of a friend has cancer. His actions indicate he is confused about what he wants. He says he is willing to get treatment, but he misses his appointments. He lives alone and refuses a live-in caregiver, or even a visiting caregiver. Prior to the diagnosis, he was cognitively in fine shape. Son says, “we have to make him go for his treatments”.  Daughter says, “if he wants to be alone, doesn’t attend his appointments, doesn’t return the doctor’s phone calls, it’s his decision to make, not ours”.

Back to the three questions above…

  • How much risk should I allow them to take?
  • What if I am certain they are making the wrong decision, a decision that is going to cost me money. How can I simply look away and allow the failure to occur?
  • How many failures are okay?

Which choice is the more courageous one? Who gets to decide?

Elisa K. Spain

Leadership Quote: Success Is Getting What You Want…

by Elisa SpainNo Comments

 

This month’s leadership quote:

“Success is getting what you want. Happiness is wanting what you get.”

-Dale Carnegie

We can always count on Dale Carnegie to remind us, attitude is everything.  In his books and in this quote Dale reminds us…when we take the time to celebrate what is, in ourselves and others, happiness is the result.

Elisa K. Spain

Is It Good Enough?

by Elisa SpainNo Comments

 

How often do we notice something, point it out and then regret it later; wishing we had kept quiet? 

How often do we wait for more information, or better information, and miss an opportunity?

There is both a time factor and a human factor to achieving results. We often wait too long, strive for that final 5%, hoping to have perfect info upon which to base our decision.  

Or, instead of building up the confidence of the person doing the job, we ask for one more change, one more fix and lose sight of appreciating what has already been accomplished.

In our quest for excellence, sometimes we forget that perfection and excellence are not the same. Excellence sometimes is simply knowing what to accept as good enough and what to overlook.

Here’s an idea…

Today, instead of looking around your office, your plant, or your long to-do list and noticing what is missing:

  • What if instead, you noticed a critical item that is working and gave someone specific, positive feedback?
  • And, decided to overlook something less important, that may not be exactly what you wanted, but is really good enough?

 

 

Elisa K. Spain

 

Are You Favoring The Heroic Over The Prudent?

by Elisa Spain1 Comment

 

We worship winners – especially those who demonstrate leadership, confront a crisis and prevail. There’s nothing wrong with that, as long as the hero did not create the crisis in the first place.

But what about those who keep crises from erupting at all?

Who are the UNSUNG heroes working for you (and helping you avoid the ditch)?

Who are the wise that simply do the right thing, rather than the bold thing?

Are you only recognizing the “heroes” in your company, and ignoring those who help you avoid the storms altogether?

 

Elisa K. Spain