Balanced Lifestyle – thoughtLEADERS, LLC: Leadership Training for the Real World

How willing is your organization to walk away from low-margin business?

November 26, 2020/0 Comments/in Balanced Lifestyle, Business Toolkit, Communications, Leadership, Poll /by Ryan Shaw

Our reader poll today asks: How willing is your organization to walk away from low-margin business?

Very — we do it all the time: 29.06%
Somewhat — it has to be really low margin before we consider walking: 41.89%
Rarely — we only walk away in extreme situations: 21.13%
Never — if they’re buying, we’re selling! 7.92%

Is the work worth it? There’s no shortage of “opportunities” to do work at low margins. Unfortunately all too many of you take on work that’s likely not worth it. Even if something is marginal in terms of value, you’re likely losing money on it. The hidden costs of administration, contracting, selling and servicing are rarely factored into the value you’re delivering and how much you’re getting paid for it. Add to that the opportunity cost of not being able to pursue higher-margin work, and you’re definitely in a negative situation.

Sure, there are times to take on low-margin work, like a pilot or trying to land a new customer, but those should be strategic exceptions. If you’re finding a lot of low-margin work on your plate, take the time to do the analysis of the true cost of delivering that work and add to that the opportunity cost of lost higher-margin work. That might help you make a compelling case for walking away from that low-margin project (or at least help you to price it more appropriately).

Do you agree with these poll results? Let us know in the comments below!

– Mike Figliuolo at thoughtLEADERS, LLC

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How willing are you to ask for help when you need it?

November 19, 2020/1 Comment/in Balanced Lifestyle, Communications, Leadership, Poll /by Ryan Shaw

Our reader poll today asks: How willing are you to ask for help when you need it?

Extremely: I ask for help all the time without hesitation: 15.21%
Very: I’ll ask for help when the need gets pressing: 35.71%
Somewhat: I have a hard time with it unless the situation is extreme: 35.87%
Not very: It’s pretty rare that I ask no matter how much I need it: 10.74%
Not at all: I always go it alone even though I know I should ask: 2.47%

Ask for help when needed. You’re not alone. While 50% of you seem to freely ask for help as needed, the other half of you struggle with doing so. Ask yourself why. Is it a pride thing? Or is it that you don’t want to inconvenience others? Maybe you believe it’s a display of weakness? Whatever the reason, get to the root of it and ask if that perception is true as well as if it’s outweighed by the benefits of asking for help. If you’re overwhelmed, stressed out, and not getting your work done or delivering on commitments, perhaps it’s time to swallow your pride or get over your hang-ups. You’d be surprised by how many people are more than willing to help a friend or colleague. Think about how you handle such requests. Give people the benefit of the doubt and create the opportunity for them to be helpful. You’ll likely be pleasantly surprised with the result.

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!

Is Your Organization Building Innovation Into Its DNA?

October 14, 2020/0 Comments/in Balanced Lifestyle, Books, Career, Leadership /by Ryan Shaw

Want to continue to be at the forefront of your industry, trying to get to the forefront, building innovation into the company structure is a must-have.

Today’s post is by thoughtLEADERS principal Maureen Metcalf.

Change is accelerating on all fronts across all industries. Each organization will be faced with different types of change and at different rates. The commonality is that everyone is facing opportunities and strains because of the current business ecosystem. Companies are regularly facing a broad range of risks, such as cybersecurity attacks, where the question has changed from “Will we be hacked?” to “When will we be hacked?” On the positive side, robotic processes automation, machine learning/artificial intelligence and a wide range of applications are making the tight labor market more productive.

With rapid change as the backdrop for the foreseeable future, it has now become imperative for leaders to build innovation into their personal leadership “operating system” as well as into the DNA of their organizations. Innovation is imperative for long-term survival and success.

While many people associate innovation with special people who come up with creative ideas, it is more accurately nurtured by building a company that embraces innovation as part of its core DNA. The real question is what does that look like, and how do you make it happen?

How to Make “Easy Button” Career Decisions

September 28, 2020/0 Comments/in Balanced Lifestyle, Business Toolkit, Career, Communications, Guest Blogger, Leadership /by Ryan Shaw

Finding your core values isn’t just good for guiding your life, its good for guiding your career too.

Today’s post is by Tracy Timm, author of Unstoppable (CLICK HERE to get your copy).

When it comes to making career decisions, we’ve all been to “the dark side.”

Endless pro-con lists. Sleepless nights. Emotional rollercoasters. Circular conversations. Worrying if this is our “one shot” while simultaneously wondering if we’re settling or worth more. Trying to balance the shiny components of the offer, maintain a level head, remember to negotiate, and keep every other generic piece of career advice front of mind.

Cue confusion, anxiety, doubt, and fear.

But what if there was a way to ensure that every decision you made in your career was in your best, long-term interest? What if you could wade through the emotions and momentary elation and get down to brass tacks: Will this work for me or is this just another distraction?

In the moment, it can be so difficult to separate what really matters from how we are currently feeling. After all, no matter if we’re being offered the CEO role or a part-time consulting position, there are so many emotions at play.

It’s human nature to feel compelled to pursue something that we’re offered. Even if the offer is coming from left field (hello, Mr. CMO, would you like to design a logo for me?) there’s something about an opportunity showing up on your doorstep that begs the question: Am I supposed to take this?

Protecting Yourself When You Make a Tough Call

September 23, 2020/3 Comments/in Balanced Lifestyle, Business Toolkit, Career, Communications, Leadership /by Mike Figliuolo

I can guarantee you’ll face a major moral/ethical dilemma situation at least once in your career. Even if you make the right decision, you’re still at risk for bad things happening. Here are some tips on navigating those sticky situations.

Today’s post is by Mike Figliuolo, Managing Director of thoughtLEADERS.

When I was a cadet at West Point, we learned the Cadet Prayer. We didn’t learn it as part of some religious education but rather because there were points in it about ethics. The one line that stood out for all of us was “Make us to choose the harder right instead of the easier wrong.”

Sounds awesome in theory, much tougher in practice.

There have been times I’ve lived up to that and others I’ve fallen miserably short. I’ve had friends, colleagues, and clients have similar experiences. While it sucks to choose the easier wrong and deal with the consequences later, it’s even worse to choose the harder right and still get screwed over when bad things happen to you as a result.

I’d like to offer some thoughts on how you can protect yourself when you’re choosing to follow the moral high road. It’s a funny thing – when you’re walking up on the high road, you make yourself a nice, big, target silhouetted against the skyline. In situations where you’re doing the right thing, someone else is probably doing the wrong thing. Those are the folks who will try to take that shot at you while you stroll along the high road. If you don’t protect yourself, you’re going to find bad things happen to you. Sometimes those people taking the shot will walk away from the situation unscathed. Now that is a bad outcome. Here’s how to avoid it.

Be Right

If you’re going to make a difficult choice, be sure you’re right. Calling the Ethics Line? Ensure you have all the proof of wrongdoing you need before picking up that phone. If you’re filing a report and it comes to light that you’ve submitted inaccurate information, you’ve just made some hefty accusations against someone that weren’t warranted. Even if nothing happens to them, you’ve tarnished their reputation. You can expect some less-than-favorable responses from doing so. Also realize the Ethics Department won’t look too kindly upon you for filing a “false report.” Be absolutely, unequivocally right before reporting something.

Seek Counsel

Work Isn’t an Excuse for Lack of Self Care

September 7, 2020/2 Comments/in Balanced Lifestyle, Career, Leadership /by Ryan Shaw

Work is a convenient excuse for not taking care of yourself. Not exercising, poor diet, and stress are a bad combination. You’ve got to make time for you. Work will always be there when you get back.

Today’s post is by Mike Figliuolo, Managing Director of thoughtLEADERS.

Back in 2015, I had a heart attack. A second heart attack. Yep. Two. The first one sucked but it was my fault. Crappy diet. Poor exercise habits. Not managing stress well.

I lost a lot of weight. Dropped my cholesterol. Modified stress responses. I was feeling great. I had conquered the cardiac event.

Wrong.

Heart attack #2 was a nasty little bugger. Hit me on a flight to Salt Lake City. I was headed out to teach my Leadership Maxims class. It ended up being the first class I’ve missed teaching in 12 years of running this business. It wasn’t fair. I was in shape. I was eating well. I was managing stress…Kind of.

A chunk of plaque blocked my obtuse marginal artery. Such B.S. ended up with a third stent. Missed teaching the class (although my client was unsurprisingly understanding of my dilemma). I quit caffeine after that one. That was painful but green tea isn’t a bad substitute.

Where am I going with all this?

It’s easy to fall out of good habits.