Consensus Gives You Beige

by Elisa Spain Comment Closed

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 several 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 leadership coach and Vistage Master Chair, I see this happen each month during the executive sessions I lead with CEOs. This, of course, is why 23,000+ people around the world are members – we understand the value of seeking input.

Where it all goes awry, is when we seek consensus instead of input. With consensus, all the colors get mixed 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.

Let’s work together. You can learn more about my leadership coaching and peer advisory boards here.

Are You a Prey Dog?

by Elisa Spain Comment Closed

I had an interesting conversation the other day with one of my clients. He was comparing drive in humans to the prey drive his dogs have. Not being a dog owner, I hadn’t heard this term before. He explained that prey drive is exactly what the words describe, a drive to go after prey. And, a large part of dog training is around managing their prey drive.

It’s this drive that causes some dogs to run after anything and everything and sometimes bring it home dead. According to dog trainers, the stronger the prey drive in a breed, the more critical it is to train your dog to have what they call “a strong recall”- coming when called.

You are probably wondering by now, where is she going with this?

Bringing it back to humans, the discussion was about the human prey instinct. For those of us who are driven to succeed, what are we doing to manage our prey dog-like instincts so that we aren’t always running after anything and everything?

  • When we achieve the goals we set for the quarter, are we off and running after the next period goals without pausing and enjoying the prey we caught?
  • On a beautiful weekend day, are we focused on getting things done instead of enjoying the day?
  • What are we doing to develop a strong recall, so we enjoy the ride, while are taking it?

Elisa K Spain http://elisaspain.com/leadershipcoach/

Q2 2019 Vistage-Chicago Confidence Index – Chicago More Pessimistic

by Elisa Spain Comment Closed

Chicago Area Survey Highlights are below. Click here for more detail by industry and for a comparison to 2018.

Economy
17%of CEOs thought the national economy had improved in the past year (vs. 31% nationally)
10% of CEOs expect the economy to improve in the year ahead (vs. 13% nationally)
Prospects
53% of CEOs expect to increase revenue in the year ahead (vs. 64% nationally)
45% of CEOs expect rising profits in the year ahead (vs. 54% nationally)
Expansion
31% of CEOs expect to increase investments in the year ahead (vs. 40% nationally)
40%of CEOs plan to expand their workforce in the next year (vs. 56% nationally)

© 2019 Vistage Worldwide, Inc.

Elisa K Spain http://elisaspain.com/leadershipcoach/

Are You a CEO or President of a Privately Held Business? If you are also a lifetime learner and want to learn more about my Vistage Group, click http://elisaspain.com/impact/

Friction

by Elisa Spain Comment Closed

Friction slows things down and makes motion difficult — it’s basic physics. We also know less friction eases movement and increases speed. When things are faster and easier to use, commerce happens.

And, when friction is present, movement slows or worse yet, simply stops.

We see this all the time with technology adoption. Have you found yourself abandoning a website, because you forgot your password and the reset didn’t work? Or the website was slow and you were busy? Or, the app on your phone crashed? Or? Or? Or?

Recently a friend abandoned attending a show with us because try as she might she couldn’t get into the website to buy a ticket. I have been thinking about friction ever since.

Wondering what each of us may be inadvertently doing to create friction for our customers, or even for ourselves? None of us sets out to create friction and yet it happens all the time.

As the economy tightens, perhaps now is the time to hunt down friction everywhere it occurs – with customers, employees, vendors – and seek to eliminate it, so that we can maintain or grow our slice of a perhaps more challenging pie.

Elisa K Spain http://elisaspain.com/leadershipcoach/

Are You a CEO or President of a Privately Held Business? If you are also a lifetime learner and want to learn more about my Vistage Group, click http://elisaspain.com/impact/

Q2 2019 Vistage Confidence Index: Optimism Tumbles

by Elisa Spain Comment Closed

Since 2003, the Vistage CEO Confidence Index has provided a quarterly comprehensive report of the opinions and projections of more than 1,400 CEOs of small- to mid-sized companies about the economy, their hiring and investment plans, and prospects for their revenues and profitability.

The Vistage CEO Confidence Index has been a proven predictor of GDP, two quarters in advance.

Confidence among CEOs tumbled to the lowest level since late 2016 according to analysis of the Q2 2019 Vistage CEO Confidence Index survey. The CEO Confidence Index was 88.4 in Q2 2019, down from 91.6 in the prior quarter and last year’s 104.1. This represents the lowest CEO confidence level in the past three years since the 87.9 recorded in Q4 2009. However, one of the components measured in the Index – CEO sentiment about future economic conditions – is at the lowest in 10 years. The falloff was driven by much less favorable assessments of the national economy, which tumbled by about 30% from last year’s readings. All other components of the Confidence Index also declined:

  • 13% of CEOs expected improved economic conditions while 35% expected the national economy to worsen in the year ahead.
  • 64% of CEOs expected increased revenues in the year ahead, while 9% expected a decrease, driving the Revenue Index to 155, the lowest in nearly seven years.
  • Just 54% of CEOs expected increased profits in the year ahead, down from last year’s 62%.
  • 56% of CEOs plan to expand their workforce in the year ahead, while 7% indicate they will decrease the size of their workforce, the lowest proportion in nearly three years.
  • Small declines in CEOs planning increased investments are signs of an expected slowdown rather than a downturn in the economy.

For the complete report, click here

Elisa K Spain http://elisaspain.com/leadershipcoach/

Are You a CEO or President of a Privately Held Business? If you are also a lifetime learner and want to learn more about my Vistage Group, click http://elisaspain.com/impact/

Is your company divided between the “creatives” versus the “practical” people?

by Elisa Spain Comment Closed

Do you divide your team into “creatives” and ” practical” people? If so, are you missing out on the creative ideas of the other half?

If you ask David Kelley, one of the founders of IDEO, and winner of countless innovation awards he will say yes.

David maintains that human beings are naturally creative and it is fear of judgment that stifles creativity in most of us. He asks, what might happen if we were to overcome that fear of judgment and unleash our creativity? Perhaps the secret lies in what psychologist Albert Bandura calls guided mastery – a process whereby we identify a fear or phobia and by forcing ourselves to overcome that fear, we release our creative abilities.

How might you as a leader create an environment that enables your employees to build their creative confidence? Perhaps a simple starting place is with more legitimate brainstorming – following the brainstorming rules – no idea is a bad idea!

If you want to take this further, are you willing to expose your team to guided mastery? Sound too touchy-feely for you?

Before rushing to judgment, take a look at this 12 minute TED Video where David tells stories from his legendary design career and his own life and offers ways to build the confidence to create.

Elisa K Spain http://elisaspain.com/leadership/

Are You a CEO or President of a Privately Held Business? If you are also a lifetime learner and want to learn more about my Vistage Group, click http://elisaspain.com/impact/

Trust Your Gut For the No

by Elisa Spain Comment Closed

Often when we are buyers, we find someone or something we like and then work to find data (experience, accomplishments, etc.) to convince ourselves why this person or this product is something we should buy.

When it comes to interviewing for key candidates, Vistage speaker, Barry Deutsch recommends we take a more structured approach to interviewing to improve our hiring success. He recommends we start the process first by clearly defining the success factors for the role and then asking the candidate to tell us stories about how they have achieved this success in the past and how they will do it for us.

It dawned on me recently that this approach works in many (most?) situations when we are buyers. After all, when we are hiring, we are buyers.

So, am I saying no gut at all? All data? No. Absolutely, there is a gut to every decision we make, and in most situations, especially when we are buyers, trust your gut for the no. If something doesn’t feel right, it probably isn’t. When hiring, it’s the behavioral questions that help us learn if a person is a cultural fit. If a person’s style, ethics or values don’t fit, it doesn’t matter if they can do the job.

When committing our time or buying a product, isn’t it really the same key question?

  • What are my expectations (success factors)?
  • What is the data that supports that my expectations will be met?
  • Then the gut question: How does this feel?

In short, if it’s not going well in the sales process, it has nowhere to go but down. If we are paying attention and listening, our gut tells us this.

Elisa K Spain http://elisaspain.com/leadershipcoach/

Are You a CEO or President of a Privately Held Business? If you are also a lifetime learner and want to learn more about my Vistage Group, click http://elisaspain.com/impact

ct/