Are Your Expectations Too High Or Too Low?

by Elisa SpainNo Comments

 

How do you know?

  • Sometimes we set our sights too low and don’t achieve as much as we can.
  • Sometimes we expect too much from ourselves and constantly feel as though we don’t measure up.
  • Sometimes we expect too much from our team or our key vendors and they feel as though they can’t please us.
  • Sometimes we expect too little or don’t ask for what we really want from our employees or our vendors and we end up taking on too much ourselves instead.

How do we know which it is?  For me the litmus test is this…

  • How often are our expectations of ourselves or others met?
  • What does our gut say about that percentage? Too high? Too low?
  • What then is the next step to get our expectations in line with what is possible?

What Our Vistage Members Want You to Know

Why Vistage Works

Elisa K. Spain

Right People At The Right Time…

by Elisa SpainNo Comments

 

Most of the clients I have worked with over the years founded their businesses; same is true for the members of my Vistage CEO group. These folks often join Vistage because they want to grow and build a professionally managed business. They are grateful and loyal to the folks that helped them get started. And, sometimes these two objectives are at odds.

The CEO knows in his head that change won’t happen without changing some key players. (After all, if the folks that are there were going to get you where you wanted to be, you would be there already). And, in his heart he is torn.

As humans, when confronted with substantial change, particularly within a structure, the mind tends to go immediately to “what am I going to lose?” Often there is much to gain, occasionally something to lose, but this is our mind at work, much less than the process at work. The question becomes, how do we overcome these fears and realize that forward progress only comes with transformation?

Here are some questions to consider, as you think about your own evolution:

  • Owner: Am I in the right role in the organization? Am I best suited to be the investor, the operator, or both?
  • Owner: The age old question, are the right people in the right seats on the bus to get to the destination I want?
  • Owner or Key Executive: Am I spending most of my time do the things that are in my genius?
  • Owner or Key Executive: Am I performing at the same level (or higher) today as I was when I began? If not, what change could I make so that I am?
  • Owner or Key Executive: Am I making decisions out of loyalty rather than what is best for the organization? If so, what is the cost? And what really is loyalty?… Are we doing someone (or ourselves) a favor keeping them (staying) in a role that we are not excellent at? How might the organization (or I) benefit by moving on if I am not performing?

What Our Vistage Members Want You to Know

Why Vistage Works

Elisa K. Spain

 

 

As Time Goes By….

by Elisa SpainNo Comments

Lots of talk these days about the increasing role the millennials are playing in the workplace. At the same time, many boomers remain in the workforce. The result: younger people managing folks older than them.

Millennials tell me they often feel uncomfortable in these situations. Today, I was talking with a young man taking over a family business. He shared with me that while he is excited about the opportunity, he is wondering why none of the “seasoned guys”, who have been with his father a long time, wanted to buy the business from his Dad. He is also wondering how they feel about him being their boss.

While the dynamics of a family business are different, I hear the same story from millennials in all types of organizations. And, I remember when I too was in a similar situation. I was 24 and became the manager of 3 divisions of a large company. Two of the direct managers were older than me and one was my age. Turned out the most challenging one, as you may have guessed, was with Nevin, the one my age. He wanted the job I had.

Here is what I learned from this experience. It is up to both the manager and the now junior employee to make it work. The best situation for me was with Rita, a graceful woman 30 years older than me. Rita didn’t want my job; she loved the job she had. And, while I was her boss, I learned a ton from her. She was gracious in sharing her wisdom and I credit her with helping me become a better leader. Nevin was a bigger challenge; we had some rough waters for some time. What we learned was there was a place for both of us and we could learn from each other. The result, we remained friends for many years to come. When I moved on, he took over the role I had, and years later, I introduced him to a friend who helped him launch a writing and speaking career he had dreamed of.

If this resonates with you, whether you are the boss in this situation or the older or peer subordinate, what are you doing to make the extra effort to make this work for both of you?

What Our Vistage Members Want You to Know

Why Vistage Works

Elisa K. Spain

As The Leaves Begin To Fall….

by Elisa SpainNo Comments

 

Those of us in the northern climates are enjoying the annual fall display. For me, it is a reminder of the cyclicality of life and of business. Time to reflect on what has passed, celebrate our successes and remind ourselves that whatever may have been our failures, we get an opportunity in the new year to begin again.

In my experience, putting some intentionality, around what I want to happen, ups my chances of being able to look back at this time next year and notice and measure progress and success. With that in mind, I offer these questions to consider before the year comes to an end:

  • What was one significant 2015 accomplishment?
  • Have I articulated my vision for my team and have I validated that everyone knows what it is?
  • What is our theme for 2016?
  • What are our specific business objectives for 2016?
  • What are the specific initiatives (action items) for achieving these objectives?

What Our Vistage Members Want You to Know

Why Vistage Works

Elisa K. Spain

How Do You Keep Your Mojo?

by Elisa SpainNo Comments

 

Sometimes the demands of one part of our life, work or family, consume us. Sometimes because of a crisis, sometimes because of a spike in workload or children’s sports or…, sometimes just because we become consumed.

These days, mobile devices link us 24/7 to the office, our bosses, our employees and coworkers. We are, as I heard it said recently, living in time poverty. It may be necessary, now more than ever, to pause, regroup and allow ourselves to do something counterintuitive; listen to music, go sailing, jogging, practice yoga, make pottery or simply go for a walk.

Why counterintuitive?  Because our responsible self says, stay with it, do the work, finish the project, take care of the sick loved one, etc. We tell ourselves its selfish to do something for ourselves “at a time like this”.

If we think of our lives as a three legged stool….when one leg is gone, it won’t balance and falls over. We can’t take the pressures of work and family and go back and forth between them alone….that’s where the third leg, a completely different activity that is our individual interest alone, comes in.

At the height of World War 2 when the pressures were immense, President Roosevelt would escape to his stamp collection for an hour or so, doing something completely different. General George Marshall would ride horseback many mornings to relieve the pressures of his job of building and leading an Army of 8 million men and women.

Think about it—

  • What is your third stool leg to balance your life?
  • How often are you trying to balance on only 2 legs?
  • How might you feel if all three legs were grounded on most days?

What Our Vistage Members Want You to Know

Why Vistage Works

Elisa K. Spain

The War For Talent (Or Is It A War ON Talent?)

by Elisa SpainNo Comments

 

Two important statistics begin this discussion…

  • Starting in 2016, more people will be leaving the workforce than entering it
  • By 2020, 46% of all U.S. workers are predicted to be Gen Y

Thus the foundation for the war for talent, or what my friends at large companies are calling, ‘the war on talent’, as in competitors targeting and soliciting our top talent.

Not since World War II, when soldiers were leaving the workforce to fight, have we experienced a shrinking workforce. Moreover, with millennials soon representing 46% of the talent, this war for talent must be fought strategically, with different methods and different incentives than before.

Continuing the theme of execution as the driver of success and hiring the right people being a key part of execution, successful leaders are taking a two-pronged approach, focused on retention of older workers AND attraction, retention and incentives for younger workers.

In short, the war for talent is a competitive war with the same goal as winning business, i.e. getting your unfair share of the market.

We have begun conversations in all my Vistage groups on this topic. Here are some creative actions I am hearing; please share yours.

  • Apprenticeship – once reserved for the trades, today Vistage members are starting to create positions for apprentices to learn the expertise of seasoned executives before they retire.
  • Project Time – Google began this practice as part of their innovation culture; other companies are adopting a variation to give millennials the opportunity to make an impact early in their careers.
  • Social Impact  – Gone are the days when matching contributions are enough; companies who make a social impact attract Gen Y workers.
  • Long Term Incentives – As young executives start families, companies that offer “golden handcuffs”  retain their executives through the business cycles. While common in the large corporate world, these incentives are beginning to show up in middle market companies. Offerings include deferred compensation, stock options and stock grants.

 

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.

 

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.

Celebrate Your Gift

by Elisa SpainNo Comments

 

Each year at this gift-giving time, I am reminded that we all have natural gifts.

Our challenge is to notice our strengths and work to enhance them. In my Vistage work, and as a leadership coach,  I refer to this as discovering and working in our genius.

While personal growth and development are part of living a full life, and after all this is what Vistage is all about, the successful CEOs and executives I know are the ones who work to become excellent at what they are already good at. And… these same successful people surround themselves with people who bring their own strengths, filling in the gaps.

As you reflect on your accomplishments for 2014, and think about 2015, take a moment and ask yourself:

  • What are my gifts? How did they serve me this year? How will they serve me next year?
  • What am I striving for that I could instead delegate to someone else?
  • What can I accept simply not doing?

Once we know and understand our strengths, and focus on them, we not only become more effective, we become more satisfied, and ultimately become better leaders.

Elisa K. Spain

P.S. This is the last post for 2014. Happy Holidays to all!  See you in the New Year.

What Happens When Steady-Growth Companies Stomp On The Gas Pedal?

by Elisa SpainNo Comments

Opt 3 Sept 14

When steady-growth companies decide to stomp on the gas pedal, especially with new leaders, it is convenient to assume the “old timers” are just fine and will take care of themselves while all else goes to growth. Be wary of unintended consequences…

When a company is young – it is all about growth – and everyone is in the same place. It is all about hunting (in the hunter/farmer view of sales). When a company is in steady growth, there is a mix of hunters & farmers, with an emphasis on farmers.

 

Then when there is a shift to fast growth, frequently with a new leader and/or new ownership with a new approach to governance, the focus shifts back to hunting, as with a start-up.

 

Except, it isn’t a start-up. There still are these established relationships between account managers and their clients. The needs of the tenured account managers and their tenured clients are different from the hunters bringing on new clients. Similarly, long tenured employees in operations, and other support areas, are particularly impacted by the refocus on growth.

 

It is convenient for leaders to assume the “old timers” are just fine and will adapt, while all else goes to growth. Not true. We all want to feel valued and important.

 

So the question for the leadership of any established company on a fast growth path is, “How do you engage, (i.e. win the hearts, not just signatures on legal documents) of high performers and key clients?”

 

And the question for a board of directors is, “What responsibility do you have to steward the growth strategy in a manner that does not result in unintended consequences to the culture?”