We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten.
Bill Gates
Introvert or Extrovert: Who Makes the Better Leader?
Extroversion is the dominant style in the United States. As a result, we sometimes confuse leadership with charisma. Yet, research shows that not only are 40%-50% of CEO’s introverts, some of the more “famous” CEOs are also introverts, including Bill Gates, Warren Buffet, Charles Schwab and Steve Spielberg.
Amongst entrepreneurs, the numbers are higher. Why? Because entrepreneurs frequently are the expert at their chosen business and experts most often are introverts.
So what does this mean?
First, recognize that extroversion/introversion isn’t binary. Most leaders tend toward one style or the other. Leadership, by its very nature, doesn’t attract people who live in extremes.
As with all style differences, start by celebrating and leveraging the differences in style. While other factors come into play in style differences, the key difference between introverts and extroverts is where they draw their energy.
Both introverts and extroverts seek input. Introverts tend to ask for feedback and then “go within” to think things over and make a decision. One thing to keep in mind about introverts – they aren’t necessarily shy, frequently just quiet – taking it all in.
Extroverts tend to think out loud, drawing their energy from the interaction with others.
Introverted leaders are frequently your “back of the room” leaders – they are calm, unemotional, and perceived as wise.
They are the ones that speak infrequently, but when they do, everyone listens.
Extroverted leaders are typically the “charismatic leader” – they are engaging, inspiring, and draw people to them.
If you are an introverted leader, leverage your natural strengths:
- allow yourself to pause and reflect before making a decision and let others know this is your style
- leverage your ability to build relationships with small groups inside and outside your company
- And, take note when it is time to access your extroversion to rally the troops inside your company or externally show up as an ambassador
If you are an extrovert leading introverted leaders, you can help by:
- giving the introvert time to think
- asking them what they think rather than assuming by being quiet they are not in agreement
- inspiring the introvert to step out of their comfort zone when it is time for them to be inspiring to the team
If you are interested in learning more about this subject, one of my favorite books on the topic is Quiet: The Power of Introverts in a World That Can’t Stop Talking.
Let’s work together. You can learn more about my leadership coaching and peer advisory boards here.
YOU PIVOT™: A Tale of Two Transitions
Listen to my recent appearance on the ‘On The Brink’ podcast here.
As part of my continuing YOU PIVOT™ series, I interviewed Jake to hear his story of two life transitions and what he learned from each.
The process of selling the business absorbed his full attention, but the afternoon after the close, Jake went home ill-prepared for how he felt and with no idea what was next.
Jake and his partner sold their first company in 1996. He was only 41 at the time, and while he wasn’t emotionally ready to move on, the market was starting to turn, and they knew it was the right time to sell.
“Before this, my biggest transactions were – car, marriage, house. I was an emotional wreck. I turned on the TV, sat down to watch and immediately knew that was not what I was going to do. But I was so exhausted, that I spun out. In retrospect, I was depressed. I’ve never been depressed before or since, so I didn’t understand what was happening. I was aimless for about three months.”
“The kind of coaching you do wasn’t available back then. If it were I would have started to think about actions before the end arrived. Working with you would have given me the confidence to trust myself, that something would happen.”
On the positive side, once Jake got himself moving, he and his previous partner started a new company.
“Fast forward 20ish years later, when I sold my last company, I knew I had to work not to be blindsided by the ending. While I knew I had to devote my attention to the sale, I also knew I had to start looking around for what would be next. For me the looking around was enough, it gave me the confidence that something would happen, I didn’t have to know what it was.”
When you get off the treadmill, your heart is racing – you need to walk around, slow it down, not stop and watch TV.
Today at 65, after walking around and exploring options for about a year, Jake has built a life portfolio. He is actively involved with entrepreneurs like himself. He coaches one or two directly, including his son, and he has taken a leadership role in evaluating and selecting candidates for an Angel Fund in which he invests.
I asked Jake to share what he learned from these two transitions; here are the top 5 he shared:
- I was naive not to think about or worry about the future when I sold my first business
- Come to terms with what you want next, think about which option is most appealing; starting or operating another business, helping other companies get where they want to be, learning something new or some combination of options
- Think about, when all is said and done, what do I want people to say about me
- Along the way, before an exit, make the changes you need to make to give yourself enough distance to objectively see, “your baby will be safe.”
- Focus on self-interest – secure my investments – active role – interesting volunteer work or other work that is a fit with my background
Let’s work together. You can learn more about my leadership coaching and peer advisory boards here.
If you have a story you are willing to share in this blog or know someone who does; please contact me.
With Diversity, Comes Diversity
What does this statement even mean?
- Homogeneous groups have similar backgrounds, preferences and personality styles. Often homogeneous groups are homegrown with few additions from “outside.”
- Diverse groups, on the other hand, may differ in traditional ways, i.e., gender, race, ethnicity, and sexual preference. Members may also differ in terms of their personality styles and backgrounds. Finally, a group’s diversity may come from changes in membership as outsiders join and integrate into the existing culture.
Diverse leadership teams are hard…they are harder to build, unlikely to come to a consensus, and are more likely to have conflict.
So, why bother? Because… they are harder to build, are unlikely to come to a consensus and are more likely to have conflict, they make better decisions. Research studies prove this out. And, diverse groups only work when they can come together as an integrated team.
The word integration is rarely used today in the context of a diversity conversation. It harkens back to the 1970s when schools were being “integrated.” Fights broke out, and education became challenging. This period, in retrospect, was viewed as an experiment that failed. And, this “experiment” provides insight for leaders who want to diversify and integrate their organizations.
Integration- Merriam Webster “to form, coordinate, or blend into a functioning or unified whole.”
Some organizations handle integration well, and some don’t. Why? For me, the answer lies in how intentional the leader is about their culture.
What to do? As with any critical decision, start by asking yourself, what outcome do I want?
Diversity is not always the best approach.
Homogeneous groups are easier. Because of their similar backgrounds, preferences, and styles, they are likely to agree and move forward quickly.
If the goal is getting more of what you already have, then a homogeneous group may be the way to go. If the goal is innovation and critical thinking, you are more likely to get there with a diverse group.
If you decide you want to build a diverse team, begin by defining what you are looking to accomplish with the diversity. Then ask yourself the following questions as you start to form, coordinate, or blend into a functioning or unified whole:
- Do I know the backgrounds, preferences, and styles of current team members?
- Have we defined our culture? And do we acknowledge the unspoken characteristics of our culture?
- What are our gaps, and are we willing to fill them with outsiders who bring a different perspective?
- What on-boarding actions do I need to take to achieve integration?
Let’s work together. You can learn more about my leadership coaching and peer advisory boards here. http://elisaspain.com
Leadership Quote: Avoid Having Your Ego…
Avoid having your ego so close to your position that when your postion falls, your ego goes with it. —
Colin Powell
Q4 2019 Vistage CEO Confidence Index
Optimism Recovers MidYear Losses
Confidence among CEOs in the Q4 2019 survey regained the losses in the prior two quarters to end the year at the same favorable level as at the beginning of 2019. The Vistage CEO Confidence Index was 91.5 in Q4 2019, up 7.7% from the prior quarter and nearly equal to the first quarter’s 91.6. The Index is still below the 95.4 recorded in Q4 2018, and the recent peak of 110.3 at the close of 2017. The steep declines occurred from year-end 2017 to year-end 2018, and the Index reached its recent low in Q3 2019. While this rebound is small, it points toward the expectation that the expansion will continue during 2020, even if at a slower pace.
The anticipation of slower economic growth has continued to temper revenue and profit expectations as well as planned expansions in fixed investments and employment. Those declines were marginal this year, and the latest data regained a good bit of the mid-year losses.
Trends in the Vistage CEO Confidence Index show a close correspondence with year-to-year changes in real GDP published by the U. S. Bureau of Economic Analysis. This correspondence shows that the expectations of firms indicate a small rebound in the pace of economic growth in early 2020. For the full report click here.
— Analysis provided by Dr. Richard Curtin, University of Michigan
Gratitude for Clean Toilets that Flush
I spent most of December in Vietnam and Cambodia, an experience that had a profound impact I am still processing. We were fortunate to find a Hanoi based travel agent who created a truly local experience. While we stayed in fine hotels, most of which had all the features of western hotels, the rest of our experience was local. And local included local “WCs,” as they called them in Vietnam.
While I’ve traveled to places before where I had to buy toilet paper on the way in and follow unfamiliar toilet customs, this is the first time these experiences were daily and throughout the day. Except for our hotel and one or two tourist restaurants, our guides took us to local places. We sometimes visited people’s homes and were graciously allowed to use their facilities.
We loved Vietnam; it’s a colorful, dynamic, high energy place. The growth is palpable. Hanoi maintains the charm of its history while becoming more modern. It was interesting to see the perspective of North Vietnam and South Vietnam. Both were in favor of unity; the south isn’t happy about being part of a communist country, yet they accept it. And truthfully, with all of what they term “enterprise” in Vietnam (I guess they can’t call it capitalism), you don’t feel the communism or dictatorship at all.
We met a vet in Hanoi, an elite pilot who, together with three elite American pilots, wrote a book about the war. He has become friends with these Americans (they shot each other down), and they visit each other once or twice a year. I captured a quote on the back of the book that describes their feelings “We weren’t really enemies, just soldiers doing the best we could for our country.” In short, Vietnam has moved on from what they call “The American War,” and is a vibrant place.
Cambodia, on the other hand, is a very different place. This country has been under the same dictator since its civil war. After the war, nearly 50 years ago, the central government moved the people from the city to the country to become collective farmers, and that is how it remains. People farm so they can eat. They live on the land owned by the government, in “houses” made mostly of bamboo. A few shopkeepers are wealthy enough to have homes built of concrete. Most people don’t have electricity and the places where there is electricity, e.g., our hotel, it is unreliable (there are no electrical plants in Cambodia, they buy it from either Laos or Vietnam). Most people have water, but it is well water that is not necessarily safe to drink. Half the year, it is hot and arid and so dusty it is hard to breathe, and the other half it is hotter and flooded most of the time.
We don’t see news about Cambodia the way we do about Africa, e.g.Sudan and Rwanda, and yet Cambodia is similar. Although the Cambodian atrocities happened over 50 years ago during their 20-year civil war, they are still dealing with it today. Between 1.2 million and 2.8 million — estimated between 13 percent 30 percent of the country’s population at the time, was killed by the Khmer Rouge. Not to mention the nearly 4 million mines they told us still maim people regularly when they accidentally step on them.
During the trip, my husband and I just took it all in; we didn’t discuss what we saw and experienced until we were on our way home. I am still processing what I saw and how I feel about it all.
For me, toilets are a metaphor for the contrast between the industrialized world and the undeveloped in the case of Cambodia, and even the developing world of Vietnam. When we arrived at the airport in Tokyo, I was struck by how grateful I was to go to a clean bathroom with a clean toilet that flushed. I am still noticing this benefit in my life that I previously took for granted. I hope I continue to notice.
Let’s work together. You can learn more about my leadership coaching and peer advisory boards here.
Leadership Quote: Tomorrow is the first blank page…
Tomorrow is the first blank page of a 365 page book. Write a good one.
Brad Paisley
Tuesday Is Giving Tuesday
Tuesday is Giving Tuesday, a special day to recognize the giving part of Thanks-Giving. It is a day dedicated to giving back. On Giving Tuesday, nonprofits, families, businesses, and students around the world come together for one common purpose: to celebrate generosity and to give.
Many of you know about my passion for Cara Chicago a true social innovator that helps motivate men and women, affected by homelessness and poverty, reclaim their voice and their vocation. My relationship with Cara began years ago, when a friend of mine invited me to experience Morning Motivations. Today, and for the last several years, I am proud to count Maria Kim, CEO, as a member of the Vistage CEO Peer Advisory Board, that I lead. Through my years coaching this CEO, getting to know her team and some of the Cara students, I’ve come to see Cara as not just a place where people come to get and keep good jobs, but a place where people come to reinvent, recover and discover their unique genius.
In a way, their mission, community and culture of accountability are not dissimilar to what I have grown to love at Vistage. We’re both about untapping the leader within and inviting her forward to be her best self. They do it through hope, jobs, and opportunity, and we do it through skill-building and peer mentorship to develop world-class CEOs.
Like all well-run Vistage companies, Cara measures their performance. They produce hundreds of jobs each year, at retention rates over 20 points higher than national norms, and with over 80% of employed participants moving onto permanent housing in which their families can thrive. They also produce a profound social return on investment, where for every dollar invested in this work, $5.97 is re-invested in society over a five year time horizon.
In this season of Thanksgiving, I realize we have so much for which to be grateful – the roof over our heads, the hearty meals we share with our families, and the occupations we have that provide for our loved ones and give us a sense of purpose. These things we may take for granted are not always available for the most vulnerable citizens among us.
This year, I have joined with Jim and Kay Mabie, The Coleman Foundation, and members of Cara’s Board of Directors to create a Challenge Grant of $50,000. This means we have the chance to raise $100,000 together!
Click Here to give today and your gift will go twice as far. (We are accepting donations today through Giving Tuesday).
Thank you in advance for joining us for a Giving Tuesday donation to Cara, or to the social purpose organization of your choice.
Thanks-Giving
Thursday is 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.
To celebrate the giving part, a delightful tradition, called Giving Tuesday, takes place on December 3rd. It is a day dedicated to giving back. On Giving Tuesday, nonprofits, families, businesses and students around the world come together for one common purpose: to celebrate generosity and to give.
Many of you know about my passion for Cara Chicago a true social innovator that helps motivate men and women, affected by homelessness and poverty, reclaim their voice and their vocation. My relationship with Cara began years ago, when a friend of mine invited me to experience Morning Motivations. Today, and for the last several years, I am proud to count Maria Kim, CEO, as a member of the Vistage CEO Peer Advisory Board, that I lead. Through my years coaching this CEO, getting to know her team and some of the Cara students, I’ve come to see Cara as not just a place where people come to get and keep good jobs, but a place where people come to reinvent, recover and discover their unique genius.
In a way, their mission, community and culture of accountability are not dissimilar to what I have grown to love at Vistage. We’re both about untapping the leader within and inviting her forward to be her best self. They do it through hope, jobs and opportunity; and we do it through skill-building and peer mentorship to develop world-class CEOs.
Like all well-run Vistage companies, Cara measures their performance. They produce hundreds of jobs each year, at retention rates over 20 points higher than national norms, and with over 80% of employed participants moving onto permanent housing in which their families can thrive. They also produce a profound social return on investment, where for every dollar invested in this work, $5.97 is re-invested in society over a five year time horizon.
In this season of Thanksgiving, I realize we have so much for which to be grateful – the roof over our heads, the hearty meals we share with our families, and the occupations we have that provide for our loved ones and give us a sense of purpose. These things we may take for granted are not always available for the most vulnerable citizens among us.
This year, I have joined with Jim and Kay Mabie, The Coleman Foundation, and members of Cara’s Board of Directors to create a Challenge Grant of $50,000. This means we have the chance to raise $100,000 together!
Click Here to give today and your gift will go twice as far. (We are accepting donations today through Giving Tuesday).
Thank you in advance for joining us for a Giving Tuesday donation to Cara, or to the social purpose organization of your choice.
This is my last offiicial blog of 2019. I will be back with a leadership quote on 12/29 and my regular blogs will resume on January 6th. Meanwhile, you can read past blogs and leadership quotes here.
The initial results of my Pivot are excellent. I feel I have much greater clarity regarding the next 3-5 years.. 