When Is Followership Leadership?

When Is Followership Leadership?

by Elisa SpainNo Comments


Interesting that “followership” is a word we rarely hear. My spell checker didn’t even know the word. According to Webster the word wasn’t even used until 1928 while the word leadership has been in use since 1821.

And yet, without followership, there is no leadership. As Vistage Speaker Rick Eigenbrod reminded us in his recent presentation, “the one characteristic all leaders have in common is they all have followers”. And, Rick also reminds us that the best leaders also are good followers. We learn by following.

So, what is followership? Webster defines it as as following or the capacity or willingness to follow a leader.

For me,  followership happens when someone is doing something that is worth following. When the leader is doing something, saying something, creating something, accomplishing something that we want to be a part of, participate in, contribute to.

And, followership is also leadership.

  • When was the last time you chose to follow instead of lead?
  • What about the leader inspired you to follow?
  • What about the first follower perhaps inspired you to follow as well?

Elisa K. Spain

Coaching Companies To Greater Sales & Profits….And An Invitation

by Elisa SpainNo Comments

We hear a lot about sales strategy and sales management, as though it is something separate from business strategy.   Vistage Speaker Jack Daly encourages us to think of it this way, “a great place to work is a great place to buy”.

If you are a CEO qualified for Vistage membership and would like to hear Jack’s  indepth treatment of this topic, I am inviting 3 CEO guests to attend the September 12th meeting of my Vistage CEO group.  Please contact me at (312) 421-1813 if you would like to see if your company has what it takes (or if you would like to refer a guest).

Elisa K. Spain

What Is The Business Practice All Leaders Do And Everyone Says They Hate…

What Is The Business Practice All Leaders Do And Everyone Says They Hate…

by Elisa Spain1 Comment

What is the business practice everyone does and everyone says they hate? MEETINGS!

How often do we hear, I hate meetings? And yet, how do most leaders spend most of their time? In meetings.

Most of us accept that, as leaders, we need meetings to communicate and get things done through other people. And yet,  most leaders, say they dread attending meetings, even the ones they are leading.

As a leadership coach, I enjoy my meetings. I draw energy from the peer group meetings I lead and from the coaching sessions with my Vistage members.  Some meetings, of course, are better than others and I find value in all of them. I  enjoy the interchange, the questions, the sharing, the challenging and the learning. And, my members tell me that meetings inside their companies sometimes have these characteristics and sometimes they do not.

I am curious to hear from you. What’s working for you in meetings and what is not?

For those who hate meetings, here are my questions:

  • When you say, “I hate attending meetings” what would you rather be doing?
  • What is it about one-on-one meetings you don’t like?
  • What is it about group meetings you don’t like?

And, for those of you who like meetings and find them to be productive:

  • What is it about one-on-one meetings you like? What makes them work for you?
  • What is it about group meetings you like? What makes them work for you?

And, for those of you who want to learn more about leading productive meetings, one of my favorite books on the subject is Death by Meeting, by Patrick Lencioni.

 

Elisa K. Spain

Leadership Quote: Giving People Permission To Fail…

Leadership Quote: Giving People Permission To Fail…

by Elisa SpainNo Comments

This month’s leadership quote: Giving people permission to fail is more important than giving them the tools to succeed.

In my experience as a leadership coach, many, if not most leaders, struggle with this one. We often know the answer and are quick to give it. Or, even step in when we see the situation “going south”.

And, we become frustrated when our staff chooses the safe choice rather than the best choice.

Is there perhaps a correlation here? What if instead we explicitly give people permission to fail and let them, what might the outcome be?

Please share your stories.

Elisa K. Spain

Is Your Leadership Team Your Co-Advisor Or ?

Is Your Leadership Team Your Co-Advisor Or ?

by Elisa SpainNo Comments


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

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.

The full process is based on the DIME method (coined by my friend Scott Morgan, author of an out-of-print book by the same title).  DIME: Design, Implement, Monitor, Evaluate.

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 evaluate part, and didn’t discover the result until he needed the money and discovered it was gone. The advisor was not dishonest, he simply made poor investment choices.

Ok, so what does this have to do with leadership and running a business? Here is what I have learned as a Vistage Chair and leadership coach.

The “portfolio managers” of our business are our leadership team, our key executives.  Each business owner has a risk tolerance that leads them to be more or less involved in activities in their businesses. The result sometimes is key executives either feel micromanaged or business owners abdicate  instead of delegate, only to jump back in when things are not going as they expected (but didn’t verbalize).

This seesaw drives both owners and key executives crazy and leads to outcomes neither wants. What if instead owners and key executives sat down together and asked the investment manager questions. These questions might include some of the following:

  • What decisions will I 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

 

Consensus Equals Beige

Consensus Equals Beige

by Elisa Spain2 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 15,000 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, book club, etc).  With consensus all the colors get mixed together, resulting in a dull beige, i.e. a mediocre, watered down decision.

Next time you are asking for input, ask yourself  if what you want is color. And, if it is color you want, don’t settle for beige.  Make the final decision yourself.

Elisa K. Spain

 

Leadership Habit: Because That's The Way We've Always Done It….

Leadership Habit: Because That's The Way We've Always Done It….

by Elisa SpainNo Comments

Several years ago, I was working with a key executive who had been in his position for many years. We were discussing the way things were done in his department and every time I asked him the reason why they did something a particular way, his answer was “because that’s the way we’ve always done it”.  Over time, this answer became a private joke between the two of us as we worked together to modernize his department.

One of my favorite examples of this habit is the seat belt announcement on airplanes.  Once, I heard a flight attendant put it this way “for those of you who have never been in a car…” Clearly at least this one flight attendant shared the same humor as my key executive friend and me.  And yet, this announcement continues on every airline.

Perhaps it is time for someone (FAA, Airlines?) to pause and ask, “What should our safety message be?” And, for each of us to ask,  has “that’s the way we have always done it” become a leadership habit at my company?

If so, is it time for to pause and begin asking:

  • Why are we doing “that” this way?
  • What is the goal of doing “that”?
  • Is doing it “this way” getting you the results you want?

Elisa K. Spain

Vistage Confidence Index Results – CEO Confidence Dips

Vistage Confidence Index Results – CEO Confidence Dips

by Elisa SpainNo Comments

The quarterly Vistage CEO Confidence Index is now available  Here are some highlights:

The  Confidence Index was 92.8 in the 2nd quarter 2012 survey, down from 105.1 in the 1st quarter of 2012, repeating the same pattern of decline recorded in the first half of 2011 (105.2 in the 1st quarter of 2011 to 92.9 in the 2nd).  This is the third year that a mid-year slump in confidence has been recorded. The common elements in each year’s retreat have been weakening conditions in the economy as well as concerns over economic policies. Despite the retreat in confidence, the Confidence Index is much closer to its ten-year peak (115.6) than to its low point (48.7).

Below are some key highlights from the Q2 Vistage CEO Confidence Index:

  • 30% of CEOs expect overall economic conditions to improve in the next 12 months,
  • 66% of CEOs anticipate sales revenues will increase in the next 12 months.
  • 50% of CEOs expect to add to their staff during the next 12 months.
  • 26% of CEOs say customer retention and lead generation are the biggest challenges they are facing right now.
  • 21% say their biggest challenge is managing costs.

Click here for the full report.

Elisa K. Spain

Leading Change, When Is Enough, Enough?

Leading Change, When Is Enough, Enough?

by Elisa SpainNo Comments

Leaders drive change in their businesses for a variety of reasons; the two primary reasons are:

  • When the leader sees opportunities the current structure does not support
  • When industry changes threaten the current business model

Both of these scenarios create a sense of urgency on the part of most leaders and much has been written about how to lead change. Pundits will say, it is important to have confidence in yourself and stay the course. Moreover, it is important for the leader to overcome objections as it is human nature to resist change.

We are living in a world of constant change – and the pace continues to increase. We tell ourselves and our teams that we must adjust to this pace or we will be left behind.

And, how do you know when enough is enough? How do you know when your team truly can’t keep up?

If you are driving change in your organization and  have been at it for awhile, here are some questions for you:

  • Are you seeing signs of change fatigue?
  • Are you noticing some people who are “off their game”?
  • Are others becoming ill?
  • Are the people you counted on in the past to lead with a positive and supportive attitude no longer playing that role?

If the answer to any of these questions is yes, is it time to check in with your team and perhaps re-calibrate the pace?

Elisa K. Spain

 

Leadership Quote: I Am Part Of All Whom I Have Met….

Leadership Quote: I Am Part Of All Whom I Have Met….

by Elisa SpainNo Comments

This month’s leadership quote:  I am part of all whom I have met. – Alfred Lord Tennyson.

One of the greatest lessons I have learned since becoming a Vistage Chair is this one. How many times do we as leaders say to ourselves,  “I am different, they are different, that is the reason we cannot communicate.”

What if instead, we asked ourselves the following questions when dealing with a difficult communication challenge:

  • What can I learn about the person I am dealing with that will give me insight into them as a human being?
  • What life experiences do we share?
  • What personality traits, interests, passions do we share?
  • How might what we share, help us to communicate?

Elisa K. Spain