Kenny Rogers on Strategy
Three proven ways to win hearts at work with the 3Ps of Balanced Accountability in the workplace: Personal, Positive, and Performance. Today’s post is by Jeff Bennett. When my sons were about 6 and 8 years old, in an effort to create an alternative to video games, I taught them to play poker. Okay, so that admission probably disqualifies me from any ‘father of the year’ awards. But in the process of watching them learn to play, I gained some fascinating insights both about how novices approach poker and, by analogy, how many companies appear to approach strategy. It didn’t take too long for my children to get a grasp of the basic rules and hand rankings (three of a kind beats two pair, etc.), but even with this working knowledge, they weren’t very good at the game. What I realized is that without an intuitive knowledge of probabilities, they were focused only on what was possible, and not what was likely. This caused them to rack up big losses because they would keep betting on a bad hand long after an experienced player would have folded. In short, they hadn’t taken Kenny Rogers’ advice in The Gambler: “you’ve got to know when to hold ‘em and when to fold ‘em…” When I asked them to describe their thinking, it was something like: “I will stay in, because if the last card is an eight I will have a straight and will likely win.” Whereas an experienced player would have looked at the same cards and said: “I am going to fold because if the last card is anything other than an eight, I will have nothing and will certainly lose.” My children were focused on the possibility that the outcome they desired would occur, whereas the experienced player is […]
When your annual plan goes off the rails, how does your organization react?
Our reader poll today asks: When your annual plan goes off the rails, how does your organization react? We try desperately and in vain to make the plan happen. 13% We keep the plan but accept that we’ll fail. 6.3% We tweak the plan and do the best that we can. 66% We disregard the plan and write an entirely new one. 14.6% Are tweaks enough? When bad things happen to good strategic and annual plans, the vast majority of you say you “tweak it and do the best you can.” You might be missing great opportunities or assuming gigantic risks with that approach. Usually when a plan goes off the rails it’s because of a massive external dislocation. Those can be opportunities to reassess everything you’re doing and plot a new course. Your competitors are reeling from those challenges, too, and while they’re taking a “tweak and hope” approach, you have a real opportunity to compete differently in a new market environment. Press pause on the plan. Do a fundamental reassessment of your strategy given the new realities of the market. Make the changes you need to make today, and do so of your own volition rather than tweaking, hoping and waiting. Because the market will ultimately force you to change, and that’s a lot less pleasant than making the change on your own terms. Do you agree with these poll results? Let us know in the comments below! – Mike Figliuolo at thoughtLEADERS, LLC Did you enjoy this post? If so, I highly encourage you to take about 30 seconds to become a regular subscriber to this blog. It’s free, fun, practical, and only a few emails a week (I promise!). SIGN UP HERE to get the thoughtLEADERS blog conveniently delivered right to your inbox!
Transforming Anger Into Trust
Devin Singh, thoughtLEADERS Principal, sat down with Jim and Jan of The Leadership Podcast to discuss his tools for turning anger into trust. In continuation of our new collaboration with The Leadership Podcast, Devin gives his tips and tricks for turning anger into trust in this short form “chalk talk.” These chalk talk series are bitesize sessions on a common (but challenging) leadership issue. Devin breaks down some of the natural causes of anger, particularly as a protective strategy or as a way that respond to supposed threats, but also as an energy that can compel us to create change. Delving into anger further, Devin talks about the effect anger can have on a relationship, of any sort, and that it’s important to be able to manage these feelings: both feeling them in ourselves, as well as reacting to these feelings in other. And then goes further into strategies to really transform these emotions for the better. Stay tuned for more of these brief Chalk Talks featuring Devin, as well as many more members of the thoughtLEADERS team.
The Philosophy of One Team & Extreme Ownership
Leadership is not always about being the loudest voice in the room, it’s about the ability to bring a group of people together around one goal. Today’s post is by John Piester, President of RedPeg Marketing. Nearly four years ago I became President of RedPeg Marketing. I quickly encountered many firsts in my 20+ year career that I wasn’t sure I was prepared for, namely becoming the leader of a then 21-year-old privately owned agency with roughly 45 employees. For the first time in my professional life, I’d have the overall responsibility for the success or failure of an organization and, in turn, everyone who worked there. I’d been in leadership positions before across business units, work groups within companies, sports teams — but this felt different. Bigger. Was I ready? A team is only as good as the people on it As a young boy, I learned the importance of being part of a team from watching my dad coach football and basketball for a local high school. Unsurprisingly, sports have always played a huge role in my life and I know it helped me learn valuable lessons about leadership that I’ve been able to apply throughout my career as well. The most important takeaway for me is that a team is only as good as the people that are on it.
Applying Storytelling to the Modern Workplace
Alan Veeck, thoughtLEADERS Principal, sat down with Jim and Jan of The Leadership Podcast to discuss storytelling and what it means for you as a leader. In continuation of our new collaboration with The Leadership Podcast, Alan talks about the power of storytelling in this short form “chalk talk.” These chalk talk series are bitesize sessions on a common (but challenging) leadership issue. Jim and Jan ask Alan to explain how storytelling applies in the context of the business world, where Alan delves into how to use storytelling ‘differently’ and to utilize human emotion to accomplish your goals. Explaining why we are emotional beings and how this has played out, Alan continues to further point out how it’s important that we don’t completely leave emotion out of the work we are doing. And, additionally, how to blend ‘big facts’ and emotions into the modern day workplace. Stay tuned for more of these brief Chalk Talks featuring Alan, as well as many more members of the thoughtLEADERS team.
How to Help Your Team Contribute Better Ideas
Based on ground-breaking new research on innovation and problem solving, learn techniques to help your team bring you better ideas. Today’s post is by Karin Hurt and David Dye, author of Courageous Cultures (CLICK HERE to get your copy). When we share our recent research findings on what prevents employees from speaking up and sharing their best ideas, sometimes we get this reaction: “Oh, that’s not our issue. Our problem is these damn millennials can’t stop speaking up. They complain about everything.” “And do you listen?” we ask. “Some of the time, but after a while, you can only take so much.” Which begs the question: and then what happens? After you’re tired and they’re ignored? We imagine it’s only a matter of time until they stop trying, or leave. Like Laura, a fellow keynote speaker we met recently at a conference. She shared: I’m so intrigued by this research you’re doing on FOSU (fear of speaking up) and the downstream consequences for employees and organizations. The truth is I’m one of those people. I had such a bad experience when I was 23, that I would never offer my opinion at work again. I was just out of college and so eager to make an impact in my new role. I had tons of ideas and was always looking for ways to make things better. So I offered my opinion on EVERYTHING. Which as it turns out, was exhausting to everyone around me. I got fired and was completely devastated. After all, my heart was in the right place. I was gung ho. But, the truth is, I was committed, but clumsy. Once I got back on my feet in a new job, I kept my head down, my mouth shut, and just did my job. I had this FOSU […]
What are the biggest mindset challenges you face when leading your team remotely?
Our reader poll today asks: What are the biggest mindset challenges you face when leading your team remotely? I worry they’re not actually working. 19.5% I have little control over their deliverables. 8.4% I worry they feel like I’m not developing them. 22.2% I worry they feel I’m not necessary or adding value. 16.9% I don’t worry at all about anything. 12.7% I worry about something else. 20.3% It’s not you, it’s me. While 28% of you worry about your team members’ productivity and managing their deliverables because you can’t supervise them closely, the bigger concerns (39%) are with how the team members see you as their leader. You’re worried about not developing them or adding value. These are the true leadership concerns to keep top of mind. To manage them, schedule regular development and 1:1 calls. Don’t let good in-office habits fall by the wayside. Have explicit conversations about their development needs especially in a distanced environment. In terms of adding value, don’t just ask “What can I help with?” because you’ll get a “nothing” response. Make specific offers of assistance like “I’m happy to talk to that one stakeholder who’s giving you trouble and see if I can help remove the barrier.” Specific requests show you’re tuned into what their issues are and are more likely to be met with a response of “that would be really helpful.” Do you agree with these poll results? Let us know in the comments below! – Mike Figliuolo at thoughtLEADERS, LLC Did you enjoy this post? If so, I highly encourage you to take about 30 seconds to become a regular subscriber to this blog. It’s free, fun, practical, and only a few emails a week (I promise!). SIGN UP HERE to get the thoughtLEADERS blog conveniently delivered right to your inbox!
Better Utilizing Structured Thought and Communication
Alan Veeck, thoughtLEADERS Principal, sat down with Jim and Jan of The Leadership Podcast to discuss his thoughts on structured thought and communication. In continuation of our new collaboration with The Leadership Podcast, Alan talks about structured thought and communication in this short form “chalk talk.” These chalk talk series are bitesize sessions on a common (but challenging) leadership issue. Alan dives into a clear explanation of what structured thought and communications actually means and how it applicable not only in a work/career setting but even with our families and friends in everyday life. Alan, Jim, and Jan challenge the ideas around “slowing down to speed up” and how structured thought and communication can really just be more about efficiency and a better use of your time as an individual and as a leader, especially when utilized for large groups and organizations. Stay tuned for more of these brief Chalk Talks featuring Alan, as well as many more members of the thoughtLEADERS team.