Category: Book reviews & reading

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Considering the Balanced Scorecard Approach

“When you can measure what you are speaking about, and express it in numbers, you know something about it; but when you cannot measure it, when you cannot express it in numbers, your knowledge is of a meager and unsatisfactory kind…” William Thompson

As the leader of a relatively young organizational unit, I am always looking for innovative ways to measure and improve overall performance and achieve strategic goals. A few months ago, I stumbled upon the Balanced Scorecard approach.

The Balanced Scorecard Approach in a Nutshell

The Balanced Scorecard approach was developed around 1990 and a result of the extensive research of Robert Kaplan and David Norton. They developed a methodology of translating organizational strategy into a balanced framework which guides organizational energies toward achieving long-term goals. Kaplan and Norton’s framework transforms the company’s vision and strategy into a coherent set of performance measures and objectives. The system is designed to balance both short and long term desired outcomes, and hard financial measures against more intangible deliverables. In their book ‘The Balanced Scorecard: Translating Strategy into Action‘, they arrange performance measures into the following distinct perspectives:

  • Financial perspective
  • Customer perspective
  • Internal business process perspective
  • Learning and growth perspective

The idea of a balanced approach to developing performance strategies and achieving business goals resonates strongly with me. I am from a hard-numbers, public accounting background, and so making a profit is essential. On the other hand, I have a strong long-term vision for the company I serve. I want to make a difference in the lives of the people who use our products and services, and I want our organization not just to be a place to work, but a place that shapes the lives of its employees in a positive way.

Why Financial Measures Alone Don’t Work

More and more organizations are realizing that achieving profitability or even product and service quality is not enough to shore up the probability of long-term business success. In his book ‘Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results‘, Paul R. Niven gives five reasons why focusing on financial measures alone does not work:

  1. Overabundant use of financial measures is not consistent with today’s business realities. Since value resides in the ideas, relationships and cultures of people scattered throughout the firm, financial metrics alone will provide  little value in identifying opportunities with customers or employees.
  2. Financial KPIs only measure past performance, but have no predictive power for the future. Scores of great companies with excellent financial metrics virtually vanished from glory without warning.
  3. Financial statements are prepared by functional area. This approach is inconsistent with an organization’s cross-functional nature; teams come together to deliver value that is impossible to track via financial measures alone.
  4. Financial measures often sacrifice long-term success. Downsizing, for example, may provide the required short-term goals required, but may also have a hugely destructive impact on morale and the firm’s overall long-term value and future prospects.
  5. Financial measures are irrelevant to day-to-day tasks of employees at many levels of the organization. The measurement of strategic performance be interpretable in a meaningful way at every level of the organization.

Balanced Scorecard for the Win

While most companies have mission statements and vision statements, these are often no more than well-worded inspirational statements, equally as grand and unused as the foyers they are displayed in. Employees don’t understand them, managers don’t implement them, resources are not invested in achieving them; they are, in essence, devoid of meaning and impact. Rare leaders, such as Steve Jobs, do a remarkable job of keeping their companies focused on the overarching vision. In stark contrast, many companies are led astray, distracted by the alluring siren-song of ‘profit maximization’ to the detriment of their identity and purpose, and ultimately their survival.

The Balanced Scorecard approach has gained an impressive following in its twenty year history; it is estimated that up to 60 percent of the Fortune 1000 has a Balanced Scorecard in place. Indeed, the greatest argument for the Balanced Scorecard approach is its ability to bring organizational strategy to life, by interweaving a company’s definitive vision and strategy so that it is felt, understood and executed at every level of the organization.

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Crucial Confrontations

Slightly ahead of my annual goal, I have just completed book number fifty-three for 2012. ‘Crucial Confrontations: Tools for Resolving Broken Promises, Violated Expectations, and Bad Behavior‘, was released a few years ago by authors Kerry Patterson, Joseph Grenny, Ron McMillan and Al Switzler. The book teaches how to confidently address violated expectations and resolve accountability issues without harming relationships.

The Scenario

[Husband lying on the sofa watching TV.]

Wife: Honey, can you please remember to take out the garbage tonight?

Husband: Yeah

[Thirty minutes later.]

Wife: Honey, are you going to take out the garbage?

Husband: In a minute.

[One hour later.]

Wife: Honey, the garbage!

[Snore.]

How Do You Respond to Bad Behavior?

We have all been there, situations where someone disappoints us not just once, but repeatedly. Your wife takes so long to get herself dolled up that you are late every time you go out together. Your assistant hands in sloppy assignments. Your boyfriend drinks too much and embarrasses you. Your boss screams at you. Your best friend borrows money and does not pay it back.

How do you respond to similar disappointments?

A) You handle yourself with grace and aplomb. You introduce the topic of the broken promise or inappropriate behavior in a safe environment, explain your disappointment, carefully get feedback from the other person and mutually agree on a plan of action.

B) You condescendingly remind the other person that the infringement has now been committed for the two-hundredth and thirty-seventh time.

C) You silently replay your fantasy to strangle him or her and curse under your breath.

D) You grudgingly ignore the first few instances, whine to your friends about it, and then explode like a crazy person when it happens a third or fourth time.

If you answered A, then you’re already applying the skills taught in ‘Crucial Confrontations’. If you answered B, C or D, then you’ve done what most modern human beings have been conditioned to do. We respond to conflict in one of two ways–fight or flight.

Crucial Confrontations

The pre-programmed responses do not work. Failing to adequately resolve touchy, controversial or complex issues at work can lead to major organizational problems and can be very costly. Picking fights or ignoring ingrained family problems because we feel ill-equipped to deal with broken rules or failed promises is a common cause of long-lasting family tension and strife. In ‘Crucial Confrontations’, the authors teach how to skillfully handle sticky situations without resorting to silence or violence. The book explains how to carefully prepare for an accountability session, how to conduct one and how to follow-up so that the behavior does not continue to occur. These skills applied in a disciplined manner will empower you to face the challenges that plague families, teams and organizations and resolve them permanently.

In a coming post, I will discuss some of the valuable lessons from ‘Crucial Confrontations’ in more detail. If you are struggling with unresolved conflict, I recommend that you read this book right away.

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Choose Your Fate

This week, I took advantage of Audible.com‘s promotion for the new Whispersync for Voice feature. The new technology allows readers to listen and read simultaneously or switch seamlessly from audiobook to e-book and vice versa. Up to 22 free Kindle ebooks are available here for a limited time. I shamelessly downloaded 19 of the available 22 titles, even though I’d already read some of them.

Ethan Frome: The Story of a Loser

The first title I read is one of Edith Warton’s best known works. ‘Ethan Frome’ is the story of a poor, downtrodden New England farmer trapped in a loveless relationship with a conniving, invalid wife. The book’s protagonist can’t seem to catch a break. As one bad thing after another comes his way, his story inevitably ends in tragedy. Surprisingly, I thoroughly enjoyed this dark book;  it served as a poignant reminder that each of us shapes his or her own destiny.

The Choices We Make Seal Our Fate

We seal our own fates every day by the choices we make, the friends we choose, the opportunities we don’t pursue. All around us are people brimming with ambition, ideas, talent and promise. So many of these lives end up as sad reflections of what might have been. Within them lie the untold stories of dreams deferred.

How to Lose

When you choose to accept the poor odds and negative labels cast upon you by circumstances, you lose. When you sink under the burden of a few bad grades, a lost job, ill-health or a bad economy, you lose. When listen to the inner voice that whispers for you to go so far and no further, you lose. Losers unwittingly self-sabotage their careers and personal lives. Set-back after set-back, losers trudge inexorably through an increasingly barren wasteland of their own shattered dreams.

How to Win

On the other hand, in business, entertainment, science and sports, winners refuse to live in the land of “almost”. Winners rise above personal setbacks and see failures as temporary. “So close, what a pity” is not an ending winners will accept. Winners recognize that their most formidable opponent is the nearly imperceptible voice of self-defeat. They train themselves to detect and defeat that enemy every day.  Winners refuse to lose sight of their dreams.

Make the Choice to be a Winner

None of us have to be losers. Instead, we can choose to allow ourselves to dream and never stop dreaming. We can choose to laugh in the face of every voice that says “you can’t have that”. Choose to be a winner. Never accept the lie of personal limitation. Never accept from yourself less than you know you are capable of. Never be satisfied with living below the threshold of your own limitless potential. Never settle for less than you know you deserve.

 

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2012 Reading Challenge Update

Two years ago, I set myself the goal of reading about a book a week, so that by the end of each year, I should have read about 50 books. I blogged about it here. When I recently updated my Goodreads profile, I was surprised to discover that I am lagging behind in my progress toward my goal of reading 50 books this year. You can follow my reading challenge booklist here. I’ve been so busy this year that I have only read 23 books to date.

I listen to audiobooks every day when getting ready in the morning and commuting to and from work. I easily clock between 60 to 100 hours of “reading” each month. But it has been a particularly challenging year. I have found myself starting books I “should” read, but then resorting to the staples that help me stay grounded every day. When I took a week’s break during July, instead of returning to my list of half-finished books, I chose to read well-reviewed works of popular fiction. Here are some of the books I chose:


Have you set any reading goals for yourself? Below is the embarrassingly long list of books in my library which I have started, but not completed:

Leadership and Business
23 Things They Don’t Tell You About Capitalism by Ha-Joon Chang
The Art of the Start by Gary Vaynerchuk
The Art of War by Sun Tzu
The Ascent of Money by Niall Ferguson
Delivering Happiness by Tony Hsieh
The E-Myth Revisited by Michael Gerber
How An Economy Grows and How it Crashes by Peter D. Schiff
Less is More by Jason Jennings
No One Would Listen by Harry Markopolos
Winners Never Cheat by Jon M. Huntsman
Winning by Jack Welch

Biographical
Benjamin Franklin: An American Life by Walter Isaacson
A Century of Wisdom by Caroline Stoessinger
Narrative of the Life of Frederick Douglass by Frederick Douglass
Roots by Alex Haley
Steve Jobs by Walter Isaacson

Psychology and Personal Development
Change Anything by Al Switzler and David Maxfield
The Diamond Cutter by Geshe Michael Roach
Don’t Sweat the Small Stuff by Richard Carlson
Mistakes Were Made (But Not By Me) by Carol Tarvis & Elliot Aronson
Moonwalking with Einstein by Joshua Foer
The Talent Code by Daniel Coyle
Talent is Overrated by Geoff Colvin
The Willpower Instinct by Kelly McGonigal

Classics
Crime and Punishment by Fyodor Dostoevsky
Odyssey by Homer
A Prayer for Owen Meany by John Irving
True Grit by Charles Portis
Water for Elephants by Sara Gruen
The Wealth of Nations by Adam Smith

Popular Fiction
A Prayer for Owen Meany by John Irving
Water for Elephants by Sara Gruen

Science
The Emperor of All Maladies by Siddhartha Mukherjee
The Disappearing Spoon by Sam Kean
On the Origin of the Species by Charles Darwin

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What’s Your Mindset?

“I don’t divide the world into the weak and the strong, or the successes and the failures. I divide the world into the learners and non-learners.” -Benjamin Barber

August 2012: at the company I worked with, it was the time of year when budgets were being set and financial projections established for the fiscal year ahead. My boss, the intrepid entrepreneur had, as usual, set stiff targets for the group. My EBITDA target was sent to me via email. The number jumped right out of my laptop screen, hit me with a blow that almost knocked me senseless and said “hey there, my name is “IMPOSSIBLE” and your name must be “LOSER”. It left me with a black eye, a swollen lip, and what felt like a permanently bruised ego.

After a panicked call to my Finance Manager, I nursed my wounds and got busy with the mountain of other important tasks. Of course, the number wasn’t going anywhere; the more I ignored it, the more disquieted I became. As I racked my brain about how this target could be accomplished, I managed to convince myself that the target was unrealistic. I began to accept that the initial slap in the face would only be the beginning of an abusive relationship between me and my new earnings target for the 2013 financial year.

After days of making myself miserable, I finally realized that it was a fear of failure and not the target itself that was getting the better of me. This evening, I updated my facebook status to reflect my change in attitude:

Trying to turn my “I can’t do that, don’t try to make me” attitude into an “I can do this, I just need to figure out how…” mindset. The human spirit is powerful; it knows it can do the impossible.

My friend Greg immediately responded. I have several awesome friends named Greg, but this one is the multi-talented champion kickboxer with the gorgeous girlfriend and a heart of gold. He sent a link to this blog post.

The words resonated with me. It was exactly what I needed to be reminded of. The article is based on the work of Carol Dweck, PhD. It turns out that I’ve already read her excellent book ‘Mindset: The New Psychology of Success‘ via Audible. I had to face the fact that my “mindset” about my own abilities was still a lot more fixed than I would have wanted to admit.

According to Dr. Dweck, there are two meanings to ability and we can choose which one we will adopt:

1. Fixed Ability

A fixed ability seeks to be proven as smart, accomplished or talented, and is overly concerned with being validated, and minimizing mistakes. There is a constant fear of failure, because to “fail” means to mess up your own fixed view of yourself. In the fixed mindset, trying really hard is a bad thing; too much effort proves you’re not smart or successful.

2. Changeable Ability

A changeable ability seeks to be developed through learning, and even through “failure”. Growth mindset people constantly seek to stretch themselves, always reaching for a new challenge. They fear not growing and not fulfilling their potential. In the growth mindset, not trying hard enough is the bad thing; effort is the proof that you will become smarter and more successful.

One of the things I admire most about my boss and several of the other entrepreneurs I have been blessed to work with is their overarching drive to keep going—obstacle, after obstacle after obstacle. Most entrepreneurs have a growth mindset; they thrive on challenges and sometimes achieve the impossible.

Here’s the key question: Is success for you about learning and overcoming limitations? Or is success about proving that you’re smart and validating your ability?

As infants, we exhibited an exuberant desire to overcome obstacles. As we learned to walk and talk, we were not self-conscious. We were fearless and ready to take on any challenge. But as we learned to evaluate ourselves, we gradually become more and more afraid of looking foolish, of saying the wrong thing, of failing. Most of us have developed a fixed mindset.

We can all begin to reverse that process and work to develop a growth mindset. We must change our definition of success from something to be protected or maintained, to the idea of success as a bumpy process of constantly becoming better than we were before.

And this why I changed my mindset, and decided not to give up. Yes, 15% VAT was slated to be introduced in St. Lucia on October 1st. Yes, the unemployment rate was estimated to be around 17%. Yes, I was running a small company in a competitive environment. But yes, I made a commitment to conquer myself and work my hardest to meet and exceed that EBITDA target by running the tightest, happiest, most innovative ship I could.

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Leadership Lessons: Remember Everyone is Important


After a busy spate at work which lasted months, followed by a glorious week off in Toronto, I have finally gotten around to re-starting the next book on my leadership list: ‘Creating Magic: 10 Common Sense Leadership Strategies from a Life at Disney’ by Lee Cockerell. Lee Cockerell managed Walt Disney World resort operations for over ten years. He has won many leadership awards and crafted Disney’s ‘Great Leader Strategies’. “It’s not the magic that makes it work; it’s the way we work that makes it magic.” On a resort the size of San Francisco, with a staff complement of 40,000, Lee achieved one of the lowest turnover rates in the industry and created magic.

I have just finished Chapter 3 where Cockerell explores the first leadership principle – inclusion. Lee’s most important leadership lesson is not about driving for excellence or being a stickler for operational efficiency. He focuses on making people so comfortable that they always do their best. Disney’s concept of inclusion is summed up by the acronym RAVE: Respect, Appreciate and Value Everyone.

Here are the 13 key principles for creating an inclusive environment:

1. Make sure everyone matters and that everyone knows it
2. Know your team
3. Let your team get to know you
4. Greet people sincerely
5. Reach out to everyone on your team
6. Make yourself available
7. Listen to understand
8. Communicate clearly, directly and honestly
9. Stand up for the excluded
10. Forget about the chain of command
11. Don’t micromanage
12. Design your culture
13. Treat your people the way you would want your customers to be treated

In principle 13, Lee goes on to elaborate that customers want four basic things:
– Make me feel special
– Treat me as an individual
– Respect me
– Be knowledgeable

Employees, in turn also want four things:

– Make me feel special
– Treat me as an individual
– Respect me
– Make me knowledgeable

How many of us can name bosses who have routinely done these four things? I can think of leaders who ticked two of the boxes regularly and three occasionally. All four? Only on extremely rare occasions. I know that as a leader, I have failed miserably in accomplishing this. How often do I make my direct reports and line staff feel special? How often do I treat them as individuals and not just department members or someone filling a role? Do I ensure that my team members each feel respected by me? Do I make my people knowledgeable?

I am only on Chapter 3 of this book, but I feel challenged already, and inspired to begin today to become a better leader. I hope you do too!

 

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21 Inspiring Quotes from Ralph Waldo Emerson

Ralph Waldo Emerson was born the son of a minister in Boston, Massachusetts in 1803. After attending the prestigious Harvard College, Emerson initially followed in his father’s footsteps and became an ordained minister. While still a young man, however, he left the clergy to pursue a career as an essayist and public speaker. Over the course of his career, he became one of the most influential nineteenth century literary figures. His two most famous works, essays ‘Nature’ and ‘Self Reliance’ serve to clearly outline his distinct philosophy of life which emphasized optimism, individuality, the unity of all things, the difference between right and wrong and the power of human potential.

Here are 21 of his most inspiring quotes:

 

Ralph Waldo Emerson – On achieving your dreams

“What lies behind us and what lies before us are tiny matters compared to what lies within us.” — Ralph Waldo Emerson

“Once you make a decision, the universe conspires to make it happen.” — Ralph Waldo Emerson

“Dare to live the life you have dreamed for yourself. Go forward and make your dreams come true.” — Ralph Waldo Emerson

 Ralph Waldo Emerson – On optimism

“Write it on your heart that every day is the best day in the year.” — Ralph Waldo Emerson

“Nothing great was ever achieved without enthusiasm.” — Ralph Waldo Emerson

 Ralph Waldo Emerson – On personal growth

“Unless you try to do something beyond what you have already mastered, you will never grow.” — Ralph Waldo Emerson

“Make your own Bible. Select and collect all the words and sentences that in all your readings have been to you like the blast of a trumpet.” — Ralph Waldo Emerson

“The mind, once stretched by a new idea, never returns to its original dimensions.” — Ralph Waldo Emerson

 Ralph Waldo Emerson – On using time wisely

“For every minute you are angry you lose sixty seconds of happiness.” — Ralph Waldo Emerson

“Never lose an opportunity of seeing anything that is beautiful; for beauty is God’s handwriting… Welcome it in every fair face, in every fair sky, in every fair flower, and thank God for it as a cup of blessing.” — Ralph Waldo Emerson

 Ralph Waldo Emerson – On recognizing greatness in others

“Treat a man as he is, and he will remain as he is. Treat a man as he could be, and he will become what he should be.” — Ralph Waldo Emerson

“Every man I meet is my superior in some way, and in that I learn from him.” — Ralph Waldo Emerson

“Our chief want is someone who will inspire us to be what we know we could be.” — Ralph Waldo Emerson

Ralph Waldo Emerson – On friendship and love

“The only way to have a friend is to be one.” — Ralph Waldo Emerson

“Love, and you shall be loved.” — Ralph Waldo Emerson

Ralph Waldo Emerson – On character.

“What you do speaks so loudly that I cannot hear what you say.” — Ralph Waldo Emerson

“The purpose of life is not to be happy. It is to be useful, to be honorable, to be compassionate, to have it make some difference that you have lived and lived well.” — Ralph Waldo Emerson

“Shallow men believe in luck or in circumstance. Strong men believe in cause and effect.” — Ralph Waldo Emerson

Ralph Waldo Emerson – On gratitude

“Cultivate the habit of being grateful for every good thing that comes to you, and to give thanks continuously. And because all things have contributed to your advancement, you should include all things in your gratitude.” — Ralph Waldo Emerson

Ralph Waldo Emerson – On starting each day anew

“Finish every day and be done with it. You have done what you could. Some blunders and absurdities no doubt have crept in; forget them as soon as you can. Tomorrow is a new day; begin it well and serenely and with too high a spirit to be cumbered with your old nonsense. This day is all that is good and fair. It is too dear, with its hopes and invitations, to waste a moment on yesterdays.” — Ralph Waldo Emerson

Ralph Waldo Emerson – On not taking life too seriously

“Be silly. Be honest. Be kind.” — Ralph Waldo Emerson

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Today I Am Inspired by: Benjamin Franklin

I am thrilled to have just started a new biography: ‘Benjamin Franklin: An American Life’ by Walter Isaacson. Isaacson, has also written biographies of Einstein (which I absolutely adore and highly recommend), Steve Jobs (which I have not yet finished) and Kissinger. So, I am excited to get started on the story of Benjamin Franklin. The publisher’s note describes him as “the founding father who winks at us”. Indeed, I have been fascinated with Benjamin Franklin since childhood.

Growing up on the Caribbean island of Antigua, two years of my early education were spent at a church-run school, St. John’s Lutheran. For better or for worse, the American-run school had the unusual feature of a 100% U.S. curriculum. In history class, we learned about the Unites States founding fathers. I read about Benjamin Franklin’s inventions and misadventures, and about his famous publication “Poor Richard’s Almanack”. A truly self-made man, Benjamin Franklin was a noted scientist, inventor, statesman and diplomat; he invented the lightning rod and bifocals, and was one of the Committee of Five that drafted the U.S. Declaration of Independence.

Born into a large Boston family in 1706, Benjamin Franklin focused early on the importance of developing character. As a young man, Franklin composed a list of thirteen virtues: temperance, silence, order, resolution, frugality, industry, sincerity, justice, moderation, cleanliness, tranquility, chastity, and humility. He believed that these were the qualities to strive for in order to live a good life. He carried checklists of these virtues in his pockets for many years, and tried to live by them until his death at age 84.

Although he lived over 300 years ago, Benjamin Franklin‘s pithy wisdom continues to permeate modern life. He left a legacy of political, scientific and social achievement. He is noted as the first to outline the social concept of “paying it forward”. Having coined the slightly misquoted aphorism “a penny saved is a penny earned”, his image adorns US $100 notes today. He also believed in rising early (see my post about getting up early here). Who does not remember hearing his axiom “Early to bed, early to rise, makes a man healthy, wealthy and wise”? .

In studying the life of Benjamin Franklin, we discover that he believed that being healthy, wealthy and wise lay not only in rising early, but also in doing good. His formula for success included starting each day at 5am and asking the essential question “What good shall I do today?”.  He believed that grand accomplishments are not achieved overnight, but take place by slowing building character by doing smaller daily good. What good will you do today?

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Taking Your Foot Off the Gas Pedal or Sophie’s Choice

Don’t Leave Before You Leave
A few days ago I wrote a post about Facebook’s COO Sheryl Sandberg. I shared a link to her TED speech where she addresses the reasons why there are so few women at the top of their fields and gives advice to women reaching for success. One of her tips is “Don’t leave before you leave”. Sandberg talks about how women take their foot off the gas pedal, contemplating how to manage married lives and families they do not yet have, to the detriment of career advancement. She is right. While at least 50% of University grads are women, there is still a marked absence of women on corporate boards, as CEOs and in the political arena. At some point after graduating, women are leaning back.

Kiss My Tiara
Nine years ago, I read a book which I credit with teaching me my first important lessons in negotiating. ‘Kiss My Tiara: How to Rule the World as a Smartmouth Goddess” by Susan Jane Gilman is an extremely irreverent book, and one that some might find offensive. Looking back, I think Ms. Gilman shaped more than just my negotiating skills. The Introduction is titled “Forget Rules for Catching a Husband. How ’bout Rules for Catching a Life?”.

Sophie’s Choice
“Too often, women are confronted with the social equivalent of Sophie’s choice. Which “children” are we willing to sacrifice: our hearts or our minds? our independence or the prospect of intimacy? our careers or our families?”. These are words echoed by Gilman in Part 1 of the book, titled “Mistress of Our Domain”. As a 37 year old woman who has never been married and never been pregnant, I can relate to having to make that choice. Not overtly, just subtly, little by little every day. While I can’t claim that I have driven my career hard, stayed at the table and kept my hand up 100% of the time, my professional pursuits have been a priority for me. I have always looked for opportunities to grow. And while I have been thrown a few career curve balls, I have been fortunate enough to do that. Younger women are often shocked to hear that I have always wanted to have a family. They assume that successful professional women make a cold-hearted decision to close the door on domestic possibilities.

Choose Wisely
It really isn’t fair that, generally speaking, babies need to come within a specified time frame. Reproductive years are limited. The biological clock is not a figment of women’s imaginations. It also isn’t fair that, as Sheryl Sandberg notes, likeability and success are negatively correlated for women, but positively correlated for men. What that means is that as men become more successful, both men and women like them more. However as women reach the top at work, the opposite occurs – both men and women find them less likeable. So what do you think that means for dating prospects? Successful women need love too, but let’s face it, it will be harder for them to find. This is why a woman who holds having a family in high priority may be lead to believe she has to take her foot off the gas pedal just to find a mate.

So who’s right? Gilman or Sandberg? Gilman is successful and single. With her book, she made lots of money encouraging women to be self-sufficient, while sneering at the fantasy most women have about going down the aisle in a frothy white gown. Sandberg on the other hand, is poised to become one of the wealthiest self-made women in the world, and is the twice married mother of two young children. She got to the top making day care runs and changing diapers. The difference is that (at least on her second try) she chose a partner who could be a partner, providing 50/50 support as she pursued her career goals too.

Women Can Have It All
In my opinion, and with the benefit of hindsight, Susan Gilman’s position is wrong. I drank her Kool-Aid almost ten years ago. I went through my late twenties and thirties believing that having a successful career meant “putting off” or even giving up on finding a mate and starting a family. Sandberg, as one of the most successful corporate executives on earth, knows that you can have it all. But you have to choose it.  Whether you want a family, or a successful career, or both — and I suspect most women would choose both if they knew it was a real option — you will need to decide what you’re going after. As with anything else in life, you will then need to actively DO the things that will move you in the direction of your dreams. Sophie’s choice only exists if you let it. Don’t limit yourself to either/or. Choose wisely.

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Nice Smart People Succeed

In January 2012 at the first weekly team meeting, I sat with my management team to outline plans for the new year ahead. Although this date did not coincide with our fiscal year end, the start of the calendar year always naturally brings with it an opportunity for resolutions and for renewal. I asked them to be brutally honest about the ways in which they felt I could improve my leadership skills. The ten-member management team jumped at the opportunity to offer candid, 360-degree feedback. I asked probing questions, took copious notes, and made a valiant effort to keep my pride under complete submission. Most of the team leaders left that meeting feeling refreshed, I left bloodied, bruised and limping.

Receiving an unfiltered critique from those who worked with me daily got me thinking about the difference between being liked and being respected as a leader, and the age old question of which one is more important. In my quest for answers, I came across and read the book,“Love Is the Killer App” by Tim Sanders. While many bosses and managers choose to wield power based on fear, after reading that book, I came to conclude that leaders should actively strive to be both liked and respected.

Published in 2002, this book could have been subtitled “How to Succeed in Business by Being Smarter and Nicer”. Tim Sanders writes that in the new economy people will be valued for their knowledge and their network and not seniority or pedigree. He argues that the only way to advance in today’s experience economy is by being a “love cat”, and intelligently and sensibly sharing your intangibles.

The intangibles Tim Sanders asks that we share are our knowledge, our network and our compassion:

Share Your Knowledge.

First, we have to put in the work necessary to accumulate enough knowledge to share, and add value to others. Books and audiobooks are the best way to get this knowledge. The author encourages using most of our free time for reading – making a commitment to review as many as one or two books per week. Tim advises that we take notes describing the book’s Big Thought, supporting ideas, and on its overall value.  We can then share the knowledge by prescribing books to our contacts the way a doctor would prescribe medications to patients.

Share Your Network.

Tim advises that we become collectors of people – establishing positive and memorable interactions with as many contacts as possible, to be able to later match them with other contacts. The more positive dealings you have had with people, the more likely you are to be a winner in business. You will have the largest networks, the most powerful connections, and the ability to call in their reserves at to help provide solutions for other connections when they really need it.

Share Your Compassion.

Let people know that you care. By expressing your compassion, you create an experience that people remember. There is a tremendous opportunity for your compassion to make a difference in how people view you, and how they view themselves, because we continue to develop emotionally and spiritually throughout our entire lives. Compassion combined with knowledge and network is the way we win hearts and influence business today.

The advantages of striving to become both liked and respected:

1. You build an outstanding brand as a person.

When you take the time to build a brand, people will trust you, like you and pursue you. Be distinct or become extinct.

2. You create an experience.

The more you read, the more you know and the more fun, interesting and valuable knowledge you have to pass along. Smart companies today are using their services as props and their services as a stage to deliver a compelling experiences.

3. You have access to people’s attention.

Biz-Love helps you give others good return on attention (ROA). It means being able to supply creativity, and help give them a foundation for their business practice.

4. You harness the power of positive presumption.

People tend to presume that a proposal is a bad idea until proven otherwise. Being a love cat arms you with the trust and respect of others, so that they know we have their interests at heart.

5. You receive exceptional feedback.

Love cats have a huge advantage because relationships don’t end when the business transactions end. Biz love partners know you are genuinely interested in their success.

6. You gain personal satisfaction.

People no longer feel secure based on their length of time with a company, and find themselves not living up to their own expectations. Love cats enjoy higher levels of security because there is always genuine reciprocity available by building intangibles.

End note: If you are a developing leader who wants to get a jump-start on building a valuable knowledge base and a wide network of contacts, if you want to learn how share compassion in business, then I urge you to read “Love Is the Killer App“.

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The Ten Commandments for Business Failure

Why is it that some brands fail, while others stand the test of time?

“In the 1980’s alone 230 companies disappeared from the Fortune 500. In fact, only sixteen of the 100 largest companies that were around in the early 1900’s are still with us.”These words are from Donald R. Keough’s 2008 book ‘The Ten Commandments for Business Failure‘.

Coke is one of those brands. Introduced in 1886, Whether you like Coke or not, it’s difficult to deny the brand’s, ubiquity, staying power and success through the years. Coke is recognized at one of today’s most valuable brands.

You may never have heard of Donald Keough, but he is at least partially responsible for the The Coca-Cola Company’s longevity. Mr. Keough was first associated with the company back in 1950, and still sits on its board 65 years later. He has served as the company’s President and Chief Operating Officer and retired from his position as Chairman of the Board of Coca-Cola Enterprises in 1993.

Donald Keough has also served on boards of several other distinguished companies including The Washington Post, H.J. Heinz Company and Berkshire Hathaway. He holds five honorary doctorates, including ones from Trinity College in Dublin, Ireland and his alma mater the University of Notre Dame.

Legendary investor and one of the richest men in the world, Warren Buffet, documented his resounding endorsement in the foreword. “It has been an article of faith for me that I should always try to hang out with people who are better than I. There is no question that by doing so, you move yourself up. It worked for me in marriage, and it’s worked for me with Don Keough.” As if any further endorsement were necessary, Microsoft co-founder, Bill Gates, and Jack Welch who led GE for 20 years as Chairman and CEO also sanctioned the book on its front cover.

In a charming and often self-deprecating style, the author takes us through the tongue-in-cheek Ten Commandments, for Failure, which are as follows:

1. Quit Taking Risks

Creating profits in the long-term requires innovation in the now. Business leaders are paid to “be discontented”, to take the calculated risks that will ensure the company’s success in the future. “When you’re comfortable, the temptation to quit taking risks is so great, it’s almost irresistible”, but it is the number one way to seal your fate and fail. Mistakes and miscalculations, even very costly ones, are simply the price of staying in business.

2. Be Inflexible 

The “if it ain’t broke, don’t fix it” mentality is the second best way to secure the demise of a business. There is no one formula for success that will continue to work always; leaders must constantly challenge themselves to change. “Flexibility is a continual deeply thoughtful process of examining situations and when warranted, quickly adapting to changing circumstances.” Darwin’s concept natural selection is applicable not just to organic species, but to the survival of businesses as well.

3. Isolate Yourself

Staying in touch with customers, distributors, managers and staff is essential to continued growth and success. It is temptingly easy to physically isolate yourself from “distractions” in the comfort of leather sofas and plush carpets in corner offices on high floors guarded by layers of Personal Assistants. Creating your own “executive bubble” is a great way to be the last to know when anything is going wrong. Answer your own phone, make your own coffee, know the names of your people – walk around and find out how they are doing and what the Company needs to be doing better.

4. Assume Infallibility

Another great way to fail successfully is to never ever admit a problem or a mistake. Develop the artful skill of finger-pointing. Blame external forces such as currency fluctuations or the unusually active hurricane season. Cover up mistakes for as long as possible without admitting that anything is going wrong. It’s best to wait until there is a full-blown crisis and then say “mistakes were made…” (but not by me).

5. Play the Game Close to the Foul Line

When you consistently “play it close to the foul line”, your employers will not trust you, and neither will your customers. If you achieve success by destroying your principles in the process, it will not last. Build a reputation for doing the right thing – to be forthright, honest and fair. Build trust. Honor and decency are virtues which never become outdated.

6. Don’t Take Time to Think

“Thought is hard” ~Goethe. In many ways technology often adds to the complexity of life without providing appreciable advantages. With the steady stream of data constantly bombarding us, it is appealing to believe that being busy is the same as being effective. Base decisions on careful evaluation. Objectively analyze mistakes; they are a powerful opportunity to see what went wrong. Making time to think is essential for success.

7. Put All Your Faith in Experts and Outside Consultants

“It is better to know some of the questions than all of the answers.” -James Thurber. Putting too much faith in outside expertise can lead to disastrous consequences. Quite often, managers insecure in their authority blame restructuring, layoffs and other unpleasant decisions on plans drawn up by outside experts. This is just another cowardly way of passing the buck. Good business leaders take responsibility for the future of their businesses, they don’t farm out important strategy decisions to third parties.

8. Love Your Bureaucracy

If you want fail spectacularly, put administrative concerns ahead of everything else. Chains of command, paper pushing, and general red tape can lead to endemic dysfunction. Bureaucracy within organizations causes responsibility to become so diluted that the managers become incapable of making objective decisions. Action becomes  impossible. In a crisis, the results can be catastrophic.

9. Send Mixed Messages

Communication does not occur unless the message is both heard and understood. For example, rewarding employees who have not met performance targets sends the message that the targets really don’t matter. Be consistent in the message you send. Apply accountability and follow through with the consequences.

10. Be Afraid of the Future

If you want to paralyze your business, start proceeding with caution all the time, allow pessimism to thrive. Unquenchable optimism is the spirit the engenders achievement and success. Move boldly ahead – approach the future with optimism – especially when the circumstances are unfavorable.

11. Lose Your Passion for Work, for Life

To fail, just continue to set low expectations for yourself and everyone around you; keep saying “that’s good enough”, or “that’s not my job”. All achievement requires passion. Work is hard, but it is worth the effort to those who are convinced that they are capable of being better. It is the strong desire to do better and solve problems that should drive your passion to work harder. Successful people perform at a higher level, just for the satisfaction of doing it. Passion can be cultivated; form a strong emotional connection with whatever you are doing, and never stop.

 

In many ways, Donald Keough’s book is a story of failure, with lively anecdotes illustrating each commandment, the author details the perilous mistakes of Xerox, IBM, Ford and especially Coke. Companies don’t fail, people do.

It is also a tale of success.  Great leaders don’t allow themselves to be dragged down by failure, they recognize the mistake, admit their errors and find a way to move on.  This amazing little books gives us a glimpse into how a product established in 1886 is still with us today as one of the strongest and most loved brands in the world. It is as refreshing and stimulating as an ice-cold glass of Coke Zero on a hot summer day. I highly recommend it.

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The Five Dysfunctions of a Team

Ants do it. Why can’t we?

In theory, we all know the value of teamwork. In childhood, grandma admonished that “many hands make light work”. Henry Ford provided sage advice, saying “if everyone is moving forward together, then success takes care of itself”. We have all seen the glossy motivational posters. So why is it so difficult to build strong and effective teams?

Two years ago, when I became a General Manager for the first time, one of the lessons I knew I had to learn fast was how to get the most out of my new team of managers and supervisors. Having spent almost my entire career in audit, accounting and finance positions, leading a multi-disciplinary team was new to me.

I recently completed the audio version of my second book by Patrick Lencioni. “The Five Dysfunctions of a Team: A Leadership Fable” struck a chord with me.  In a cleverly woven leadership fable, Lencioni provides insight into the reasons why so many teams fail. The author shows how ineffective teams create apathy and ambiguity that will eventually cripple an organization.

Here are the natural, but dangerous pitfalls encountered by a team:

The Five Dysfunctions of a Team

1. Absence of Trust

Where there is an absence of trust in a team, members don’t get to know each other well. They are afraid to be vulnerable or admit their weaknesses or mistakes. Because the team members are constantly in defense mode, no one asks for help.

2. Fear of Conflict

Absence of trust sets the tone for a team’s inability to engage in unfiltered conflict around ideas. Effective teams disagree with each other. Instead of running their thoughts through a political filter before being spoken, they say “I disagree with you, here are the reasons why”. Veiled discussions, guarded comments, sarcasm and silence do not achieve the results that active disagreement and productive debate can yield. When team members don’t battle it out passionately, the decisions they reach will inevitably not accurately reflect the shared goals and values of the organization.

3. Lack of Commitment

Wherever there is a lack of healthy conflict then the third dysfunction is almost assured. Where there has been no “weigh-in” on matters, there is likely to be little true “buy-in” for decisions made. Team members may feign agreement during meetings, but haven’t truly given their commitment to decisions and plans of action.

4. Avoidance of Accountability

A lack of commitment to clearly defined plan of action leads to team members being hesitant to hold their peers accountable. No one gets called out for actions and behaviors that are counter-productive to the good of the team. When no one gets called out, everyone saves face, and the team loses.

5. Inattention to Results

Avoidance of accountability has only one natural conclusion. When team members  put their own  – such as career advancement, or the needs of their individual departments ahead of the collective goals of the team, then results suffer.

 

In the last two years, my leadership style has developed into one that is somewhat unconventional. I strive to create an environment that encourages vulnerability. Everyone on the team knows they have a say. I encourage debate and even passionate emotional debate. Conflict is natural and healthy. Without it, there will be no growth because the status quo is never really challenged. Arguing over concepts and ideas is not to be confused with personal mean-spirited attacks and destructive politics. In a good team, everyone knows the difference. It takes discipline and commitment to acquire that level of knowledge, but the results are truly worth it.

End note: If you are a leader who relies on a dogmatic management style, or if you are part of a team that constantly walks on eggshells trying not to offend each other, then I would like to challenge you to read Patrick Lencioni’s The Five Dysfunctions of a Team: A Leadership Fable. Learning to lead in a way that gets the most from your team will yield more positive results than you can imagine.