Tag Archives: Personal Vision

Unwinding and Reloading

CEO Relaxation

Unwinding

Another Christmas, a New Year looming, much year-end wrap-up to be done. And it’s the best time to take stock.

But first, make sure you have allowed yourself to unwind. Everybody unwinds differently, and many CEOs don’t unwind the way normal people do. You know you, so allow yourself to unwind in your most effective way sometime before hitting full throttle again in January.

Now, about taking stock…

Separately from the unwinding, allow yourself a couple hours to review your business year. Although you may want to outline or create a detailed plan for the first quarter or even the entire year, delay that until you have answered the following questions to your own satisfaction:

What were our most significant accomplishments this year?
Did we make money? If yes, was it a fair return on our investment?
Are we generally headed in the right direction, toward my vision for the business?
Am I becoming more skillful? In what ways?
Am I having any fun?

Unwind, reload, launch into 2018.

Have a joyous holiday. May you be well and prosperous in the New Year.

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Long in the Tooth

Sometimes the primary job of the CEO is coachingI’m not all-in anymore. That was the latest expression from a business owner who is pondering his changing role in his business. Other lips have delivered the same message in different code: I’m not sure what my job is anymore or I seem to be focused more on my personal vision than on my business vision.

Business owners almost invariably reach a point where they are confounded about their own role in the business and not sure what to do about it. Occasionally this is an indication that it’s time to sell or give away the business. More often, however, the owner is not interested in retiring just yet – only in finding his or her appropriate role in a business that has evolved over time.

In the great American pastime of baseball, there is a parallel. As an example, Andres Blanco currently plays for the Philadelphia Phillies and is all of 31 years old. In baseball years, he’s getting a little long in the tooth. The Phillies are in a rebuilding year, and Andres is a utility infielder. The future of the team consists of younger infielders who are destined to eventually become starters at second base, shortstop or third base, if they aren’t already playing that role. Blanco plays all three positions well, but in this rebuilding season is playing an even more important role. He’s become a model for the younger players on how to conduct oneself as a major leaguer. He models and advises the younger players on everything from the hard work required for game preparation to handling post-game interviews.

That’s the parallel to the “I’m not all-in anymore” business owner. At some point, the greatest contribution you can make to your own business is to develop the younger talent. It’s to model appropriate behaviors, coach the younger employees who lack experience, and encourage those who are still learning and making mistakes. That often is a full time job for the long-in-the-tooth business owner. But even if it’s only half a job, that’s fine. Do it well, and spend the other 50% on the golf course or fly fishing or drag racing or traveling.

Andres Blanco, the mentor, will likely become a coach when he retires from playing. Coaching baseball, or coaching your younger employees…neither is a bad life.

Are You Asking the Right Questions?

2015 again holds a high degree of uncertainty for CEOs

Deja vu?

You’re racing to the end of another calendar year and, guess what?  For a CEO, this one ends just like the last!  Not the details, of course, but you’ve been here before when it comes to the overall uncertainty about the business environment.

The U.S. economy has experienced its fastest 6-months growth in the past ten years, and yet the rest of the world economy looks much less sanguine, and many are concerned about how this may affect the U.S. economy.

On the national political scene we will have both a Republican House and  a Republican Senate come the New Year, and yet the most credible voices are predicting that gridlock in Washington will continue.

Technology continues its relentless advance, providing new tools for operational efficiencies; and yet it simultaneously confounds and frustrates most of us when it comes to marketing and the “promise” of social media.

With regard to finance, the business bankers are speaking more sweetly, but their banks are still behaving like the man who offers you an umbrella when the sun is shining but can’t seem to find one for you when it’s raining.

This uncertainty is nothing new to you!  A CEO deals with it, planning for it and managing through it.  But the real rub for most CEOs is on the personal side.  With the holidays upon us, and with the end of another year at hand, I encourage you to ponder:

  • Are you having any fun?
  • Are you making money?
  • Are you becoming more skillful at something?
  • Are you generally headed toward your destination, toward your vision?

Underlying these questions is the really big one: “How ARE you??”  That is, how are you doing intellectually, physically, and spiritually?

Do yourself a favor. Find a few minutes, no later than January 1st, to answer this question, in writing:  Indeed, how the heck are you?

 

Specifically, address your intellectual state, physical state, and spiritual state.  Then commit to taking actions that will result in progress in one, two, or all three areas in 2015.  After you’ve done this, go back to those four questions regarding fun, money, skills, and vision, and take a crack at them. It’s a great way to clean out the cobwebs and launch your next twelve-month journey.

I wish you the very best in the New Year!

Hunting in a Farmer’s World

I just read John Dini’s latest book, Hunting in a Farmer’s World – Celebrating the Mind of an Entrepreneur. If you are a business owner or leader and you pick this book up, you won’t put it down.

John draws a line of distinction between what he calls “hunters” and “farmers”. He treads along that dangerous slope of stereotyping, but with good cause. It allows him to explain in a compelling manner some of the reasons why certain private businesses struggle, while others blossom. Let me share with you just a few reasons why I am not really summarizing the book here, but rather encouraging you to read it for yourself.

He provides a mirror for the business owner to reflect on whether they own a job, a lifestyle business, or a legacy business.

He deals effectively with that nagging question, “How much should my company be making?”

He provides thought-provoking insight into the philosophical quandary, “What is rich?”

He even touches on the alternatives for selling a business, and some rules of thumb for estimating the value of a business.

Most importantly, John highlights the significant behavioral style differences between a “hunter” and a “farmer”, and how those differences can be successfully combined in a business organization.

A summary, by me or anybody else, does not do this book justice.

Full disclosure – John is a colleague of mine in The Alternative Board® network. More important disclosure – You don’t have to be a colleague of John’s to fully appreciate this very practical, experiential, straightforward, soon-to-be classic, on the mind of the entrepreneur.

Driving or Being Driven?

The CEO who understands motivation is more likely to be successful as both a leader and individual performer.

Understanding Intrinsic Motivation

“I don’t know why, but I have no motivation right now to do anything with my business!”  I occasionally hear these words or something very similar from CEO clients.  Where does the motivation go?  How does a business owner get that “Mo” back?

Daniel Pink’s book, Drive, offers some research and some suggestions, specifically regarding intrinsic motivation.  He emphasizes that for those “right brain undertakings – those that demand flexible problem-solving, inventiveness, or conceptual understanding –“, extrinsic motivation doesn’t really work.  It has to come from within.  “Those right brain undertakings” account for a heavy portion of the most important work performed by a business owner/CEO.

This leads to the question of what fosters intrinsic motivation in most humans.  Pink’s conclusion is that it depends on “three nutrients”:

  1. Autonomy over task, time, technique and team
  2. A belief that Mastery is possible – that one can really get better at doing something
  3. Purpose – a belief that what they are doing really matters

Understanding this as CEO might lead to your becoming a great manager.  A deliberate examination of how each is affecting your own current motivation might also open a path to self-invigoration.

Are You a Trusted CEO?

Trust is important to all leaders, including CEOs of privately held businesses.

Trust on the National Level

In Michael K. Farr’s book, Restoring Our American Dream, he spends a good deal of print on the importance of trust.  He drives home his point by exploring how trust is eroded and the challenge of earning trust, especially after it has eroded.  In specific, he addresses what went wrong with the financial meltdown of 2008 and what is needed to get the U.S. financially back on track.

His macro lessons are applicable to any organization, any business, any CEO.  Have you considered the importance of owning the trust of your organization?  Without it, your business is crippled, not capable of achieving anything near its potential.  So, if you have lost the trust of key employees, what can you do? Continue reading

Unique Job, Lonely Role

CEO accountabilities are unique within the enterprise

A CEO

As CEO, or business owner, or company president, you occupy a unique and a lonely position. Not surprisingly, your job description is a one-of-a-kind, whether you have actually written it or not. You are accountable for certain high level responsibilities, because only you can perform them. It is these responsibilities that should be your guide to priorities, to how you spend your company time.

Here are the universal accountabilities for someone running a private business, regardless of the size of that business. Continue reading