7 Habits That Make Great Leaders

by

I recently completed the book “7 Habits of Highly Effective People.”  There were so many great points for both personal and professional development.  The author, Stephen Covey, also provided a list of behaviors that he (and me) believes show in high trust leaders.

1. Give straight talk.  Integrity starts with giving an honest opinion, the truth.

2. Show respect in all that you do, including compassion

3. Right any wrongs, and then apologize to demonstrate humility. Covering up only makes it worse.

4. Get better at it.  Try to continuously learn about new skills and methods.  I read books and magazines on a regular basis with goals of completing a number of books each year.

5. See reality for what it is and take it head on.  Addressing the tough issues shows courageous leadership.

6. Listen first which is one of Covey’s 7 habits of “see first to understand before being understood.”

7. Keep commitments.  Once you state your intentions, keep them to build confidence and trust.

Here’s to creating your 7 habits as a great leader!

Mike

Servant Leadership

by

Servant leader- what is it?  In a business movement introduced in the early 70’s is the idea of servant leader.  These leaders put their company or organization before themselves.  They don’t view employees as the means to the end but rather the employee’s satisfaction is the end.  This can be a big shift in thinking for an entrepreneur.  Some points on leaders adopting this style.

  • Treat employees like customers, and where reasonable do their bidding
  • Ask the question “how can I help you?”
  • Fill in for an employee and do their job to lift a burden from the employee’s colleagues
  • Lead like you are leading a group of volunteers and ask, “what problems do you have?”  Volunteers don’t have to listen to autocratic leaders.

Servant leadership does not necessarily say you are a great boss, but rather its realizing that being a boss and leading are not the same.

Here’s to adopting servant leadership traits to build a better company!

Mike

Healthy Leaders Are Great Leaders

by

A healthy business starts with a healthy entrepreneur.  To survive the demands of running a business or even part of a larger organization requires a physically strong person to stay in the game for the long run.  Here are some tips.

Just get started.  Make exercise a priority by setting realistic goals that a specific.  Start slowing to avoid injury and remember “slow and steady wins the race” says the turtle.

Do it right.  Know your limits and what exercises are the right fit for you.  Consult your physician to get onto a program.  Engage in the aerobic activity that will raise the heart rate.  Even 20 minutes can have a long-term effect.

Stick with it.  After setting your goals, tell it to as many people as possible.  They will help be your accountability team.   Visualize success- it might look like climbing to the top of a mountain to see a view stretching for miles.  Most of all make it fun!

Here’s to your health!

Mike

Great Leaders Block Their Time

by

In today’s busy business environment, we so often hear how pressed for time leaders find themselves.  We are connected – 24/7 these days.  Time is a valuable and finite resource.  You can’t create more than 24 hours in a day.  It comes down to time management and not getting distracted by bright, shiny objects.

I can find myself getting distracted with incoming email and text messages.  Here are some tips on how to create more space to visualize, think, and read.  Without these ingredients in your routine running of your business, you are likely unable to be intentional on where you want to drive your business.

  • Jim Collins, author of Built to Last breaks his time up into blocks: 50% creative time, 30% teaching/business, 20% other.  During his 50% creative time he unplugs all electronics.  This is time to read, write, and think.
  • I respond to email generally only 2 times daily- at noon and at 5pm.  This catches the morning emails that I can address at midday and then catches the afternoon emails so responses are ready for the recipient first things in the morning.
  • Hold office hours.  You designate a time where your door is open for any discussion with your team members.  The non-office hours allow you to focus only on the highest best use of your time to work on your goals.
  • Take breaks to restore energy and creativity.  This could be a walk around your office building or taking a walk-in a nearby park.  (I have also heard of people taking conference calls while walking around to keep movement in their day and their mind alert on the conversation.)
  • Know when to say “no” to a meeting.  If meetings take up too much of your time, then you can’t strike a balance to find the space to focus on your top priority.

Here’s to creating the space that you need to drive the health of your business to new heights!

Mike

Leadership Through Journaling

by

It was suggested to me that I begin a practice of journaling daily.  At first I thought what for?  What would I write about?  How would it help me?  My colleague kept up the pressure for me to start so I thought, okay I will humor them and do it just to say I tried it.

Well over a year later, I am still doing it.  Why?  Because I have found it to be very helpful to write down ideas, situations, or feelings that later I can work on or at least have on paper and not forget.  It also allowed me to start a practice of gratitude that has helped keep me on the positive side of the coin and driving my business and relationships forward.

I was skeptical at first, but as I progressed I became more of a believer in the power of the written word even when it comes directly from me.  I could look back at some of the writing which included goals or plans that I wanted to happen.  And guess what, a lot of if did happen.

It has helped me stay focused on my vision and goals for both business and family.  My moods are boosted by the simple act of writing why I am grateful.  Give it a try.  You have nothing to lose.  At the end of each day take your journal write down anything that comes to mind and finish it up with three things that you are grateful for.  Then you can count your blessings.

Mike

Planning

by

Have you heard the quote “work on the business vs working in the business?”  As leaders in our businesses and communities, some self-reflection is important if we are to gain wisdom from our experiences.  A research study done by Giada Di Stefano, Francesca Gino, Gary Pisano, and Bradley Staats, indicated that employees who spent 15 minutes at the end of each day reflecting about their lessons learned experiences did 23% better than those who didn’t do this self-reflection exercise.

Many leaders at driven individuals who are focused on accomplishment and making results happen.  Taking time out of their day to do self-reflection seems too much given their busy schedule.  Other excuses include they don’t see the return on their time invested or they don’t want to slow down.

I recommend self-reflection because it causes you to pause and think about what was good and what could be improved during your day.  I use a journal to help me document not just my daily gratitude but also what went well and what did not go well.  Here are some questions to ask that could help you in your journey on self-reflection.

  • What are you avoiding?
  • Are you helping someone achieve their objectives?
  • Are you a hindrance or a help with someone you are working with or for?
  • How could you be more effective in meetings?

Asking these or other questions will help you move forward in a more positive path on your leadership journey.

Mike

Time: The Ultimate Finite Resource

by

I remember reading a book titled “Death by Meeting” by Patrick Lencioni.  The focus was on silos, politics, and turf wars in a business.  I recently ran across an article suggesting that meetings should not last any longer than 30 minutes.  I am sure some who are reading this can relate to being in a meeting that went on and on and on with no clear action and nothing done after the meeting.

Maybe implement compressed time for business meetings will remove this poor habit.  As Parkinson’s law indicates work expands to fill the time available, so if you don’t set a limit to the meeting, it can drone on way too long.

Why 30 minutes?  There is no scientific study, however, for me personally I see a higher level of intensity by participants because they know 30 minutes is the limit.  Its seems people listen more intently when things move faster keeping us engaged.  People tend to come prepared and ready to go.  And if not, they will the next time.

Give it a try.  Implement these three tactics to make the 30-minute meeting more powerful.

  1. Tell everyone to read any materials before the meeting.  Ask an important question: “what outcome do we want?”
  2. Decide on the one thing to focus on in the meeting that will make a difference and stay on it for the 30 minutes.
  3. It’s what happens after the meeting that will tell you if the meeting was good or not.  Act with a summary and clarity on the action steps and accountability.

How are your meetings?

Here’s to having better meetings!

Mike

Leadership

by

I recently read a short article that addressed 5 interesting metrics to measure as you build your leadership skills.  The author, Verne Harnish, who wrote the book “Scaling Up” has these key measures that will help you grow the impact of your leadership.

  1. Initially when a business owner is starting out, it pays to say “yes” to a lot of opportunities to network and gain experiences.  However, as you get clear on your strategy, Verne recommends turning this upside down and aim for a ratio of 20-to-1 “no”.  Why?  So you can get laser focus on getting to the results that you want.
  2.  A “meet and greet” strategy with other influencers in your industry.  Set a goal of how many coffees, breakfasts or lunches to have so that you will gain knowledge from other leaders in your field
  3. Spend uninterrupted time “in the flow” for at least 90 minutes a day.  Put this on the calendar for every day.  If you don’t focus on your high priority items, they will not get done.
  4. Get input from lots of other brains that can help propel your company forward.  Get a brain trust or advisory team who have experience and wisdom that you want to obtain.
  5. Spend time thinking to let your best ideas incubate.  Even Ben Franklin took time devoted to learning each day.  Reading and thinking are a must for a leader.  As its been said “leaders are readers”.

Measure these leadership metrics on a regular basis and give yourself a chance to take your leadership skills to the next level.

Mike

Simple but Powerful Rules for Business

by

Charles “Red” Scott was a President and CEO of several public companies over his career, including Intermark and then Fuqua Industries.  His business philosophy for success in running a business resonates with me, seems timeless, and cuts across all industries.  While simple on the surface, these rules and principles remind us as business leaders of what is important. 

Below are some of Red Scott’s “rules” that I think you will also find are key to business success:

  • Don’t run out of cash. . . no matter what!
  • No surprises: Give fair warning when you hear bad news
  • Never compromise quality for price
  • Plan strategy and set objectives before fixing structure
  • Be careful of a “quick fix”
  • “About right” now is better than “exactly wrong” later
  • Creativity is great. . . but not in accounting
  • Always ask “What if?”
  • Hire smart rather than manage tough
  • Do the “right thing” rather than do “things right”
  • Invest in business with a low cost to exit
  • Hire for attitude, train for skills
  • Be careful: A little success can create a whole lot of overhead
  • “I will” beats IQ every time!

These are just a few business tips that can help you pull through all your circumstances.

To your business health!
Mike

5 Ideas for Becoming a Better Leader

by

I recently read a short article that addressed 5 interesting metrics to measure as you build your leadership skills.  The author, Verne Harnish, who wrote the book “Scaling Up” has these key measures that will help you grow the impact of your leadership.

1. Just say “No”. Initially when a business owner is starting out, it pays to say “yes” to a lot of opportunities to network and gain experiences.  However, as you get clear on your strategy, Verne recommends turning this upside down and aim for a ratio of 20-to-1 “No”.  Why?  So you can     get laser focused on getting to the results that you want.

2. Spend time with other leaders. Develop a “meet and greet” strategy with other     influencers in your industry.  Set a goal of how many coffees, breakfasts or lunches to have so that you will gain knowledge from other leaders in your field.

3. Put the highest priorities first. Spend uninterrupted time “in the flow” for at least 90 minutes a day.  Put this on the calendar for every day.  If you don’t focus on your high priority items, they will not
get done.

4. Use a sounding board. Get input from lots of other brains that can help propel your company forward.  Get a brain trust or advisory team who have experience and wisdom that you want to obtain.

5. Make space for thinking. Spend time thinking to let your best ideas incubate. Even Ben Franklin spent time devoted to learning each day.  Reading and thinking are a must for a leader.  As it’s been said “leaders are readers.”

Measure these leadership metrics on a regular basis and you’ll give yourself a chance to take your leadership skills to the next level.
  
Here’s to becoming great leaders! Mike

How to be Successful the Second Time Around

by

I recently read an article about a study conducted on over 65,000 Swedish earlier stage start-up companies and their owners who successfully exited one company and moved on to their next company.  It pointed out that the second time around for the entrepreneur was not always a success.     Most business owners after they exit from their business seem ready soon after to start another venture.  This includes business owners that transition to the buyer company, but find out that they can’t work for anyone else anymore.

The second business often under-performs compared to the first one.  Why?  There is no one reason why the same skills and leadership that got them a first successful company exit does not work the second time around.     In some cases, the entrepreneur fails to understand the significance of timing and those “make-or-break” moments where their intuition helped lead the first company to its success.  They sometimes forget or underestimate how much effort it takes and the chance events that got their first company the results needed to succeed.

So what are the ingredients for a happy exit?  It depends on the person; however, some common strategies included: The business owner visualizes what life looks like after exit.  They don’t wait for the exit to happen and then decide, rather they are proactive about it before exiting. Test driving the next venture prior to exiting the first one Setting clear goals, deadlines, and amount of capital that will be committed These are just a few of the ideas that can help a business owner avoid moving onto a second or third business venture that ends up disappointing.

Here’s to your next venture! Mike

Which Style of Leader Are You?

by

I recently read a fascinating article in Inc magazine that outlined 13 leadership styles of corporate leaders.  The authors outlined each type and what traits are typical.  While we all have our own unique leadership style, some styles resonate with us while others do not. 

Do you recognize your leadership style(s) from the list below? 

  1. Adaptive
    This leader rises above the noise and looks at the changing landscape to interpret how best to adjust the business to the challenges.
  2. Emotionally intelligent
    These are leaders who are experts with relationships and have strong influencing skills.  They are aware of their feelings and those of others, too.
  3. Charismatic
    These leaders are the motivators with a charismatic authority about them.  Think of Jack Welch and Theodore Roosevelt.  They can end up with a cult-like following
  4. Authentic
    This trait could be summed up as passion, but with integrity.  These leaders are consistent and open.
  5. Level 5
    This leadership style comes from the book Good to Great by Jim Collins, who describes Level 5 leaders as those with a strong pursuit of goals with humility.  They give credit where credit is due, and don’t have oversized egos that desire praise for themselves.
  6. Mindful
    This leader is a good listener and probes with questions to help address their curiosity.  They ask smart questions to help them be better learners and leaders.
  7. Narcissistic
    This is the leader who does not listen, does not learn, and does not teach.  They also have an obsessive vision that tends to pull their followers along.  If they have a strong second-in-command person who can offset their “less than nice” traits, they can be effective company builders.
  8. No-Excuse
    Think of this leader as a military commander who wants no excuses about why a mission didn’t work out.  These leaders display mental toughness and make decisions quickly with limited information.  This leader will typically debrief on why a situation didn’t go right, not to blame but to try and learn from it and not repeat it
  9. Resonant
    This is the enthusiastic leader who can rev up their team to push through challenges.  They have a contagious style that can get ordinary team members to do extraordinary things.
  10. Servant
    Servant leadership displays the person’s desire to serve employees, customers, and other stakeholders.  Based on Biblical principles of “wash each other’s feet,” servant leadership can result in workplaces you see on lists titled “Best-places-to-work.”
  11. Storytelling
    This leader evokes emotion with employees through narratives to drive the vision of a company.  This style tends to be prevalent with entrepreneurs who need to tell a story about their company and what they want to accomplish.  They can provide a picture for the minds of their employees.
  12. Strengths-based
    This leader invests in the talents of their employees.  They want them to thrive in a manner that can bring out the best of their skills and how it fits with the company’s mission.
  13. Tribal
    Tribes are led by people who understand the cultural norms and values of the group.  This leader has the ability to unite the team around shared beliefs that are needed to make the company successful.

Leadership styles come in all shapes and sizes.  Some people display traits in multiple styles and are not just “one size fits all” approach.  However, it’s likely that one style plays a larger role with a person.  Which one are you?  Cheers to finding out your leadership style and how you can best use it to drive your company’s vision.

Cheers to identifying and enhancing your leadership style!

Mike