The Introvert's Guide To Leadership (& The Extrovert's Guide To Leading Introverts)

The Introvert's Guide To Leadership (& The Extrovert's Guide To Leading Introverts)

by Elisa Spain2 Comments

Some say 40% -50% of the top large company CEO’s are 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 for those of us who are introverted leaders and for extroverts with introverted leaders on your team?

As with all style differences, first 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 seek the input and then  “go within” to think things over and make a decision. Extroverts tend to think out loud, drawing their energy from the interaction with others. One thing to keep in mind about introverts – they aren’t necessarily shy, frequently just quiet – taking it all in.

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 people are naturally drawn 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 that 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 it time for them to be inspiring to the team

Lisa Petrilli, a fellow leadership coach, has a great series of posts on this topic starting with The Five Myths about Extroversion from the Harvard Business Review Blog Network.

 

Elisa K. Spain

 

 

 

 

Innovation Vs. Discipline Part 2: Kodak Vs. Fujifilm

Innovation Vs. Discipline Part 2: Kodak Vs. Fujifilm

by Elisa Spain1 Comment

Lots of press swirling around the impending bankruptcy of Kodak. While Kodak suffers, its long-time rival Fujifilm is doing rather well. Why? Is it innovation or is it discipline? (See March 4, 2011 Blog, post Which is the Winning Strategy? Innovation or Discipline for Part I)

At one time, Kodak was one of the most innovative and disciplined companies in the world, with a rigorous approach to manufacturing. And, discipline is more than discipline in production; discipline also is a disciplined approach to the market – recognizing AND acting on changes in market dynamics.

Kodak and Fuji both saw digital coming. Fuji acted, Kodak was complacent. (Success breeds arrogance?)

Fuji continued their film business while diversifying into other business lines.  They were consistent and disciplined in their approach to new markets. They identified market opportunities, invested in exploring the new markets and when satisfied the opportunity was there, had the vision and leadership to move forward with the investment and organizational changes required to reconstruct their business model.

Kodak on the other hand, dabbled in opportunities while never making the  investment and organizational changes required to adapt to the new world. They became a victim instead.

For me, as a leadership coach, this story of Kodak and Fuji, raises the following questions for CEO’s and leaders of successful businesses:

  • What is the equivalent of the digital camera for us?
  • Are we noticing when we are becoming complacent?
  • Are we in tune with market changes and prepared to act in a disciplined manner?
  • Do we have the cash or sources of capital to make the investment in diversification?
  • Are we willing to make the uncomfortable organizational changes necessary to diversify into new markets?

The Economist details the story of both companies in this article, “The last Kodak moment?”

Elisa K. Spain

 

Which Is The Winning Strategy? Innovation Or Discipline.

Which Is The Winning Strategy? Innovation Or Discipline.

by Elisa SpainNo Comments

Lately it seems there is an abundance of books and articles advocating for one or the other.  Jeffrey A. Harris, in his new book Transformative Entrepreneurs,  advocates for innovation. He cites examples of Steve Jobs and Walt Disney and his findings are summarized in this recent Forbes article.  Jim Collins on the other hand, in his latest book, Great by Choice,  finds otherwise.  In my January 22nd post “Laws of Success: The Answers May Surprise You”, I discuss Jim Collins’ findings, one of which is the companies in his most recent research are no more innovative than the comparison company. In fact, the companies he calls 10X take less risk than the comparison companies and Jim’s findings tell us is that first and foremost, the 10x companies are more disciplined.

So, as a leadership coach, I am wondering which is it, innovation or discipline? Perhaps it is both.  To thrive, all companies must innovate; the challenge is what you do next. Here are some questions to consider:

  • Do you have a culture that inspires and reinforces innovation?
  • Do you have a process for capturing new ideas and turning them into concepts that are then carried forward through a product development stage gate process, i.e. is there discipline around the innovation?
  • How are innovations funded, are there dollars available to try out new ideas and allow for failure?

 Elisa K. Spain

Leadership Quote: The Way You Do Anything…

Leadership Quote: The Way You Do Anything…

by Elisa SpainNo Comments

This month’s leadership quote:  “The way you do anything, is the way you do everything.”

Boaz Rauchwerger, Vistage speaker, attributes this quote to his Mom in his December 5, 2011 newsletter.  The point, she says, is to be excellent at everything.

For me, as a leadership coach, this quote raises broader leadership questions:

  • Is the way I do everything, the same regardless of who I am doing it for or with?
  • Is the way I do everything, the same when I am doing it alone or when someone is watching?
  • Does “doing” include how I treat people along the way to achieving excellence; the old question, is the outcome what counts or is it the process?
  • Is the way I am perceived as doing everything as a leader, the way I want to be perceived?
  • As the leader, how does the way I do anything impact the culture of my business?

Elisa K. Spain

The Leadership Value Of An Apology

The Leadership Value Of An Apology

by Elisa SpainNo Comments

Tom Searcy is a Vistage speaker who also writes for CBS MoneyWatch.  His recent blog titled “7 Tips on How to Apologize in the Business World” resonated for me, so I thought I would share them. Here are the tips:

1- Separate the apology and the explanation

2-Ask for the discussion, but don’t insist upon it

3- One-up the connection – face to face is best – try Skype or GoToMeeting and then phone

4-Don’t assume you know what will make it right, but be prepared with options

5-Own more than your portion

6-Focus on what happens next

7-Move on

Seems to me we can all benefit from applying these in our personal as well as professional lives.  To read Tom’s  full blog, click here.

Elisa K. Spain

What Results When Leaders Ass-u-me?

What Results When Leaders Ass-u-me?

by Elisa SpainNo Comments

We make assumptions daily, mostly about other people. These assumptions enable us to take shortcuts and keep us moving forward. Or so we think.

  • We assume a person attended or didn’t attend an event because…
  • We assume a person responded to us a certain way, because…
  • We assume a person took an action or didn’t take an action because…

What if instead of assuming, we, as CEO’s and leaders, paused and asked “What is the reason you made this choice or took this action?”

As a leadership coach, I had a recent reminder of the importance of asking, when I assumed a new client made a choice because he was not engaged in our relationship.  I decided to pause and ask the reason for the choice and I learned the choice had to do with his family and had nothing to do with our business relationship.

When I was a young driver,  I learned this leadership lesson from a police officer who pulled me over for passing him on the right, when he and and another officer were stopped – blocking both sides of the road.  He asked me why I passed him. My response was “I assumed you were going to be there for awhile and I wanted to get to my destination”.  His reply, “When you assume, you make an ass-u-me”.

Yet another reason to pause, as we were reminded by Joshua Bell in my December 18, 2011, post ” Take a Pause and Avoid Missing Out-of-Context Opportunities”.

Elisa K. Spain

The Test Of Time, Continuous Improvement

The Test Of Time, Continuous Improvement

by Elisa Spain1 Comment

All of us who have been in business awhile have either led or experienced the “methodology dejour”. We get all excited about something new we learn about and suddenly it is time to reinvent our companies around this new idea. And, then a week, or a month, or even a few days later, we are on to the next new thing.

Sometimes though, something new comes along that is able to withstand the test of time. One such model is TQM, Total Quality Management. In the early 90’s Deming introduced the TQM model to U.S. manufacturing. This model included, among other things, the Japanese concept of Kaizen (continuous improvement) and what became a popular mantra called “business process redesign”. Today, there is a lot of talk  about the failures of business process redesign. Too much change introduced at one  time, simply doesn’t work –  upwards of 75% of business process redesign projects fail.

On the other hand,  Kaizen, or simply, continuous improvement has withstood the test of time in manufacturing and across all industries.

It’s a simple concept that  goes like this, intentionally and continuously look for ways to innovate and improve your business processes. As leaders, ask your people to join in and look for ways to improve the business. Success will follow.

In Vistage we call the idea dujour risk,  “DAV” (“Day after Vistage”) and remind our members to take only “one thing” away from each meeting and focus on incremental change, i.e. continuous improvement. The result… Vistage members outperform their industry peers.

What are you doing today, to foster a company culture of continuous improvement?

What financial benefits have come from your continuous improvement efforts?

What metrics do you have in place to measure the results of continuous improvement efforts in your business?

Elisa K. Spain

Laws Of Success: The Answers May Surprise You

Laws Of Success: The Answers May Surprise You

by Elisa SpainNo Comments

I just finished reading Jim Collins’ new book, Great by Choice and as he says, the results may surprise you; they did me.

Here’s the good news, if you, as CEO,  have ambition, creativity, vision, insight, a good strategy, are innovative, possess a willingness to take risk; in short, all the typical characteristics we attribute to leaders, you can become a standout success.

However, and it’s a big however, one that certainly caused me as a leadership coach to pause. All the companies Jim Collins and his partner Morten Hansen researched, were led by CEO’s with these characteristics – the ones that thrived AND the ones that did not.

Here’s what he did find that was different about these leaders.  The companies that thrive possess three common characteristics:

  • fanatic discipline
  • empirical creativity
  • productive paranoia

As I reflect on the great leaders I have known in my career as a leadership coach,  my surprise at the results fades. The great leaders I know all share these characteristics.

Jim drives this point home in chapter 2 as he tells the story of Roald Amundsen’s and Robert Falcon Scott’s quest for the South Pole.  When you understand what Amundsen did to prepare and Scott did not do, it becomes crystal clear why Amundsen was successful and Scott was not. Just as it will become clear why each of the high-performers Collins and Hansen study achieved their results.

I encourage you to read the book, and ask yourself the following questions:

  • Do I possess these high-performer characteristics?
  • What am I doing today to focus on them each day?
  • How might I integrate my genius and my talents to maximize my results?

 

Elisa K. Spain

Questions Of Culture – What Are Yours?

Questions Of Culture – What Are Yours?

by Elisa SpainNo Comments

Despite the sticky unemployment numbers, businesses are hiring. See 9/20/11 Blog “The Economic Shift” for a discussion as to some reasons for this dichotomy.

Now, back to the point of this post…

I am seeing a lot of discussion about the questions to ask in an interview to learn the fit of a potential hire.

Two of my favorites,

From Bob Herbold, the former Chief Operating Officer of Microsoft Corporation and author of What’s Holding You Back: 10 Bold Steps that Define Gutsy Leaders.

When you were young, who was the person that was most influential in teaching you valuable lessons about life? What were those lessons the person taught you? What are those tapes this person put into your head that are still there today and have emerged as guiding principles for you?

The lessons you are looking for are basic principles that suggest a high degree of self confidence, a sense of personal responsibility, a strong drive to achieve, and solid fundamental ethics. No hint of these kinds of traits should be a red flag.

From Jeffrey Stibel is Chairman and CEO of Dun & Bradstreet Credibility Corp. and author of Wired for Thought.

Describe a time when you failed, tell me what you learned. Jeff asks all of his employees to share their answer to this question on “the failure wall” posted in his office. His passionate belief is success by failure is not an oxymoron. When you make a mistake, you’re forced to look back and find out exactly where you went wrong, and formulate a new plan for your next attempt.

As Vistage speaker Brad Remillard always says, “we hire on skills and fire on behavior”.  These questions above are two of my favorite behavior questions, what are yours?

Elisa K Spain

Personality Style Drives Choice

Personality Style Drives Choice

by Elisa Spain2 Comments

There has been a lot of research over the years about the concept of loss aversion.  This research tells us that we as humans are more likely to prefer choices that avoid a loss than those that achieve a gain.

Turns out, research also indicates that our personality style drives our loss aversion behavior.

As a leadership coach, I have become a student of personality profiles, thanks to Vistage speaker, Stuart Friedman.   One thing I have learned, is the pace at which people make decisions is driven by their style.

Research by Alexander Chernev, Associate Professor of Marketing at Kellogg introduces the theory that personality style not only drives pace, it also drives choice.

Chernev’s research involved asking people whether or not they would choose to invest in alternative funds, some with potentially higher yields than ones they already owned.

Prevention-focused people—those concerned above all with safety and security—were more likely to stick with the status quo even when they were told that another option would most likely out-perform.

In contrast, promotion-focused people—those who focus on growth and development—were much more willing to venture into the unknown.

Additionally Chernev’s research uncovered another decision driver: regret aversion, people tend to blame actions that produce bad results more than they blame inactions that produce bad results.  In other words, people who switch to a new investment fund and end up losing money will experience more regret than if they took no action and lost money on their old fund.

How might we apply these findings as leadership lessons?

  • When deciding how to invest in our businesses?
  • When handing out raises?
  • When assigning employees to a new project?
  • When selling a new product line?
  • When defining the success factors for a new hire?

 

Elisa K. Spain