Usually, a situation, perhaps a crisis, demands a leader to merge. In the banking crises of the last 2 week, the FDIC, the Fed, and the President, all who have designated roles, emerged to address the situation. Top bank leaders emerged to back up First Republic (albeit with the deposits that fled to them from First Republic and other regional banks). >
From the time we are born, we are instructed in who we should be to be accepted. We learn not to cry for no reason, how to walk, where and when to eat and pee. Once we learn to talk, we are told when we can talk, when not to talk. As grown ups, we show the world that part of ourselves that is acceptable per our training. All of this leads into a fear of being seen for who we truly are. >
In Vistage we have an exercise called be-do-have where in a particular situation you evaluate
- who are you being?
- what are you doing? and
- what do you have to get to a result?
In relation to your goals for 2023, what is your be-do-have strategy? >
Entrepreneurs live like orchids who pull moisture out of the air to survive. They pull an idea out of thin air and make it a reality. They live in an alternate reality of the idea they can see in their heads. And, they make a few other people believe in their dream and become part of it. Usually, they struggle for years to make their dream a reality….sometimes decades. And, if they are successful, one day we all see it and buy their product or service.This is living on hope. >
Duty is not a concept we discuss much these days. With the passing of Queen Elizabeth II of England this week, her example of duty to god and country has been widely honored, and seen as the passing of an era. Did the concept of duty pass with her?
Duty was what got her generation through a great depression and World War II. They committed to the common good against outside forces intent on destroying civilization as they knew it. When she became queen she took on the duty to lead the empire and the church of England.
We grew up with duty through The Pledge of Allegiance, When you become a lawyer or take a political office you pledge allegiance to the US Constitution. As children we learned the boy and girl scout pledges. When you marry, you pledge to be faithful and responsible to your spouse.
Today, we use phrases like take responsibility, keep commitments, be accountable. That generation would have said do your duty. Is it the same thing? I’m not so sure. Duty came from societal norms. We all agreed to follow “the rules”. And by doing so, we would be rewarded for being a good person, and society would be better for it. There was not much tolerance for doing things outside the rules which were dictated to you by tradition, religion and society.
We have come well past the rigidity demanded in those times which is good. We have also accepted a lot of bad behavior in the spirit of doing ones own thing. Putin’s invasion of Ukraine reminds us that we cannot assume the world order will just keep humming along. As much as we don’t like the idea, duty to our fellows and saving the planet will require sacrifice. Elizabeth understood this and leaned into the challenge. It was a life well lived.
If you are not a subscriber to BIZPIE blog, you can subscribe here.
image courtesy of usmagazine.com
Is this you?
- You take too long to make a decision.
- You get anxious that you don’t have all the necessary data.
- You feel great pressure to make the perfect choice.
- You enjoy researching the options more than actually choosing which one to go with?
- You agonize about the consequence of a bad choice.
If this resembles you, taking your time and doing deep analysis makes you the go to person for your friends and colleagues. You can be counted on to have all the research and analysis completed. They take your recommendations with the respect and appreciation you rightly have earned.
The downside is that power abhors a vacuum. So, if you don’t make a decision your whole team slows down waiting. And, while they wait, they get bored and distracted or make the decision themselves. Their outcome is most likely not as good as the outcome you would choose.
So, what to do?
First, assess the importance of the decision and the consequence of getting it wrong. Small consequence? Just pick one of the two best options. It should be a pretty good result.
Set a self imposed deadline for deciding. If you still don’t know, pick someone to review what you know, and talk it through with them until you choose. Or take it to your team for input and drive to a result before you leave the meeting.
Afterwards, assess the quality of the result. You may find, that you make 97% as good a decision with 10% less data. That is a good indicator to go with your gut more often and move your team faster towards your goals.
If you want to move more quickly as a team, one option is to set earlier deadlines. Or use the agile method that tech companies do. The whole team works together on one project until it is complete, then starts the next one. They iterate fast.
Many, many times a 90% solution is enough. Shoot, that was an A in high school. Why are you beating yourself up to get 100% on everything?
If you are not a subscriber to BIZPIE blog, you can subscribe here
Friday, Vistage launched a one hour interview by Sam Reese, Vistage’s CEO, with Alan Mulally who led Boeing for many profitable years and then turned around Ford Motor Company. Watch it today if you are in the Vistage community. Mulally is Magic. >
This has been a week of unbelievable, sad, scary and very public miscalculations. The Ukrainians bought Putin’s claim that he wouldn’t invade. Big miscalculation. Putin miscalculated the resolve of the Ukrainian people and the unity and the resolve of NATO. The consequences will be death, destruction and a reordering of the whole world order. At best. >
It made sense when Patrick Lencioni said it, and it made sense when I read it in The 5 Dysfunctions of a Team 20 years ago, but it still is not common business practice. Your executive leadership team – the CEO and your peers, must be your “team one”, not your division or your direct reports. Whew! >
Many CEO’s that I work with as a Vistage Chair have a different reality from the title they show on their business cards. I call it the CWO- Chief “Whack-a-Mole” Officer. >