Leadership Is Often About Being Uncomfortable

by Elisa SpainNo Comments

 

What?? How can leadership be about being uncomfortable? Isn’t confidence a key characteristic of leadership? Yes and…. only a confident person is willing to sit with discomfort.

One of my Vistage members reminded me of this last week. We were talking about some changes he is making in his organization, specifically around allowing others to take responsibility for decisions and allowing them to succeed or fail without his intervention.

He was expressing how uncomfortable he was in doing this – his exact words were, “this is difficult, frustrating and not my happy place”. His happy place, aka his comfortable place, is as a doer. At the same time, he wants to continue to grow this business and invest in other businesses. He knows this will only come with leverage, i.e. building a leadership team and allowing them to lead without his direct oversight.

When I challenged him on his statement about being frustrated and unhappy, wondering if he was planning to go back to “doing”, he got angry. He said, “I have no plans to change anything. I am okay being uncomfortable, I am simply acknowledging that I am”.

Another reminder, happiness in the long run often requires being uncomfortable in the short-term; and having the confidence to simply be there.

 

 

Elisa K. Spain

Entrepreneurial Success Is Not About Taking Risk

by Elisa SpainNo Comments

 

There is a long held belief that successful entrepreneurs are high risk takers. In fact, the common lore says, “not only do they take more risks, they are successful because of it.”

Over the last 15 years I have worked with over a hundred entrepreneurs, first as a business advisor and then as a Vistage Chair. My experience tells me otherwise.

Here’s what I observe:

  • Successful entrepreneurs follow the same practices the Great by Choice CEOs follow in Jim Collins’ book.
  • They have a clear vision of where they are headed.
  • They hire top talent and their employees understand their vision.
  • They invest in opportunities that support their vision.
  • They only invest in opportunities they understand, and where they have experience or vision, that gives them reason to expect the return they are seeking.

Finally, successful entrepreneurs have an instinctive sense of timing. It is this instinct, coupled with the discipline outlined above, that sets successful entrepreneurs apart.

Perhaps to the outsider who doesn’t see what the entrepreneur sees, it is this instinct that appears as taking high risk.

 

Elisa K. Spain

 

Leadership Quote: If We Only Focus On Fixing What's Wrong…

by Elisa SpainNo Comments

 

This month’s leadership quote:

“If we only focus on fixing what’s wrong, we forget to notice and build what is good and strong.”

-Rebecca Wilkinson

So often in our quest to be better, both as people and in our companies, we forget this advice. No question, sometimes fixing is what is required, technology becomes outdated, systems break down, etc.

And many times, the best approach is first to notice what is good and strong and then work to build upon it. Or as I am fond of saying, “discover both our’s and our company’s genius and then work to become excellent at what we are already good at.”

Next time, you make the list of what needs fixing, perhaps draw a line and then make a list of what is good and needs building.

Elisa K. Spain

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

Vistage CEO Confidence Index: Optimism Among Small Firms At Highest Level In 3 Years In Q1 2015

by Elisa SpainNo Comments

 

The quarterly Vistage Confidence Index is now available.CI-graph-q115-280

Confidence among CEOs has remained higher for a longer period than at any other time in the past ten years, according to a survey of 1,541 small- to mid-sized business owners. The survey, which took place from March 9 to March 18, 2015, provides a clear snapshot of current economic, market and industry trends.

The Vistage Confidence Index was 105.8 in the 1st quarter of 2015, between the 107.5 in the 4th quarter and 101.3 in the 1st quarter of 2014. The recent survey represented the eighth consecutive year-to-year increase, a new record for the persistence of optimism. The small 1st quarter loss involved all components, although none registered a significant decline. The stability in CEOs’ confidence stands in sharp contrast to the slowdown in the pace of economic growth at year-end, which has persisted into the 1st quarter of 2015.

Below are some key highlights from the Q1 2015 Vistage CEO Confidence Index (all members surveyed):

  • 61% of CEOs said the economy has improved in the past year – the third highest level
    since the start of 2005.
  • 45% of CEOs expect the economy to improve in the next year, well above last year’s 37%.
  • 36% of CEOs said that locating, hiring, training, and retaining staff was the most significant
    business issue they are currently facing.
  • 48% of CEOs plan to increase investments in new plant and equipment, and CEOs expressed
    the most expansive investment plans during the past four quarters that any other time since 2006.
  • 77% of CEOs expect their revenues to increase in the year ahead, unchanged from last
    quarter and above last year’s 74%.

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

 

 

Good Intentions…

by Elisa SpainNo Comments

 

One of the key things we learn in Vistage is the Socratic Method. Stay in a questioning mode and let people come to their own answers.

Most humans want to make a difference, have an impact somehow on others. Sometimes when we want to be in service, it is so tempting to tell others what they need to do. It seems so obvious to us. And, yet, the impact of giving advice can often have the exact opposite result.

The thing is…we all hear through our own filter and what is intended and what is heard are often not the same.

What I have learned, and continue to learn, is there is a hidden benefit of questioning, the filter becomes visible. Telling is passive; I can take it in or not; I can react or not. On the other hand, when I am asked a question, the engagement is active. I am a participant and I have the opportunity to pause and consider, rather than react and respond.

 

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.