September 15th, 2022 by AdvisorCatalyst
What
vulnerabilities have been revealed in your organization with the significant market
changes the last few years? You should consider
internal – thought processes and operating patterns – along with external factors.
In
addressing key vulnerabilities through resilience thinking, the following carry
greater weight in decisions:
- People ahead of processes.
- Balance Sheet strength.
- Non-cost factors – availability, speed, and more limited offerings.
- Contingencies and alternatives.
- More frequent leadership team connection and outward communication.
Though
decisions favoring resiliency result in natural redundancy (extra cost), when delivery
and availability are at stake, leaders yield margin to fulfil already sold
commitments or keep sales engines running.
“The greatest danger in times of turbulence is not the
turbulence – it is to act with yesterday’s logic.” Peter Drucker
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August 1st, 2022 by AdvisorCatalyst
Leaders
have had a two-year crash course on a resilience mindset vs a mindset of maximizing
efficiencies. The global system which
allowed for decades of squeezing ever greater profits out of systems, networks
and supply chains has unraveled. The
pandemic and Ukraine war are simply two recent accelerators of a decade plus
trend away from global inter-connectedness and toward nationalism (e.g., China
policies, U.K. Brexit, and U.S. populist movement).
While
change was always a norm, greater change will be the new norm so continue building
the resilience mindset. Think flexible
systems. Build sufficient financial and talent
resources to weather turbulence.
Resilience is “The capacity of a system to absorb disturbance
and still retain its basic function and structure.” Brian Walker and David Salt in Resilience
Thinking
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June 15th, 2022 by AdvisorCatalyst
Pat
Lencioni calls accountability “the universal challenge” of teams. In The Advantage he notes global data
from their Five Dysfunctions of a Team Assessment show 65% of assessments are
“red” for accountability (vs. green or yellow).
Surprising? Maybe.
Consider how much accountability stings.
Do I want my attitude, behavior, or work to be scrutinized more closely? Not likely.
Yet calling out others invites others to call me out.
Are
you willing to lead by example? If so,
accountability can become a strength.
While there will be times you require help or forgiveness, you will also
experience delivering on more commitments.
“Courage is the main quality of leadership, in my opinion,
no matter where it is exercised.” Walt Disney
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Tags: Accountability, Leadership, management, Troy Schrock
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May 2nd, 2022 by AdvisorCatalyst
An aspiring senior leader recently asked me what I thought
was the most important trait of an effective CEO. Two traits came to mind:
- They
sincerely care about the people on their team and in their organization.
- They
make decisions. This involves making both
tough and timely decisions. A clear
decision gets resources focused. You can
always adjust if the decision was wrong.
I
don’t consider these two traits leadership “laws” or “rules.” I have simply observed these characteristics
in effective CEOs. How do these two traits
resonate with your experience of effective CEOs (or leaders in general)?
“Leadership is not being in charge, it is about taking care of people in your charge.” Simon Sinek
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March 15th, 2022 by AdvisorCatalyst
Inertia
– resistance to change in speed or direction – is a powerful force. Significant energy is required to break
inertia which can be good or bad for leaders.
Inertia works in a leader’s favor when it is built around valuable routines,
habits, and attitudes. The more momentum
you build in the right direction the easier it is to maintain.
Conversely,
inertia works against you when built around negative routines, habits, and
attitudes. It takes committed effort to break
the cycle and restart momentum in a positive direction.
How
can you spin your positive inertia flywheels?
Where should you break negative inertia?
“Leaders must wake people out of inertia. They must get people excited about something
they’ve never seen before, something that does not yet exist.” Rosabeth Moss Kanter
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Tags: Leadership, Troy Schrock
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January 31st, 2022 by AdvisorCatalyst
You have likely heard three commonly claimed factors, in
various priority, at which you must excel if you want to succeed – strategy,
execution and culture. These are all important,
but what if the X-Factor is a strong, effective leadership team?
Let’s assume this is true…
Do you:
- fret
over having the
right, best people possible on the team?
- consciously
work to increase team cohesion?
- identify
ways to improve capacity, speed of decision-making, setting priorities and
follow-up on commitments?
Operating
as if your leadership team is the X-Factor should cause you to shift work time
and still accelerate the other factors.
“It’s the little details that are vital. Little things make big things happen.” John Wooden
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December 15th, 2021 by AdvisorCatalyst
Now is a perfect time to reflect on what you and your team have accomplished throughout the year. Leaders naturally look ahead to the future – it’s their job. However, a common refrain is “we don’t take enough time to acknowledge and appreciate what has been accomplished or learned.”
Summarizing the annual highlights won’t take much time and pausing typically leads to a sense of both satisfaction and gratitude. Note the significant accomplishments. Be real about unplanned events which factored into the outcome. Consider top lessons learned. Who was involved in the achievement? How do I thank them?
Enjoy the pause!
“Reflect upon your present blessings of which every man has many – not on your past misfortunes, of which all men have some.” Charles Dickens
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November 1st, 2021 by AdvisorCatalyst
Leaders should become comfortable making decisions with probability-based thinking. The future is uncertain and the environments in which we operate are fluid.
Some leaders get stuck waiting for more information, a better view. It appears certainty is just ahead… one last question, one final piece of information. But, certainty is a mirage. As soon as you receive the information “certainty” evaporates like the proverbial desert oasis shimmering in front of you.
Two dangers of certainty-thinking:
• Decisions bog down and progress slows
• Absolute-outcome thinking closes off to options for alternatives.
There comes a time decisions must be made and actions taken.
“…logical method and form flatter that longing for certainty and for repose which is in every human mind. But certainty generally is illusion, and repose is not the destiny of man.” Oliver Wendell Holmes, Jr.
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September 15th, 2021 by AdvisorCatalyst
Double dip: a second recurrence of some bad event or trial outside our control in short succession to the first – e.g., economic recession, market downturn, disease, or viral pandemic. These situations are hard on people physically and psychologically so people can become discouraged. They recently experienced the excitement of getting through the difficulty, then WHAM, the double dip – they are right back in hard times.
Leaders should acknowledge the difficulty of reverting to tighter restrictions and more limited resources. More importantly, leaders should keep people encouraged – acknowledge their efforts, share in the extra work, and provide hope for the future.
“Once more unto the breach, dear friends, once more;” William Shakespeare in King Henry V
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July 30th, 2021 by AdvisorCatalyst
Plants perform better with pruning. Proper pruning:
• Improves health and vigor.
• Maintains good shape and structure.
• Focuses the plant’s resources on its best aspects.
Similarly, proper “pruning” in organizations strengthens the whole. Don’t continue adding new and more without figuring out what should be eliminated and reduced. This is how organizations become over-grown.
Consider what activities and costs are no longer producing the desired value. Use segmentation analysis to determine which products, services or customers are no longer a value-fit. Thin down your list of opportunities and potential investments to those which require the organization’s best, limited resources to flourish.
“There is nothing so useless as doing efficiently that which should not be done at all.” Peter F. Drucker
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