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Using Stretch and Commit Goals to Drive Performance

September 21, 2020/0 Comments/in Business Toolkit, Career, Communications, Entrepreneur, Leadership, Sales /by Mike Figliuolo

Goal setting is tricky business. You’ll get much better performance if you set two goals for your team. Once you’ve done so, paying for performance is more of a math equation than it is black magic.

Incentives can, and have been, a topic of great discussion but one thing that is hard to argue is this: you want to complete a goal, incentives work.

Sometimes incentives are money. Incentives can be salary increases or bonuses. You may offer stock or options. Other incentives can be awards, time off, or promotions. Incentives need to be something that’s meaningful and exciting to your team, collectively.

When you set the incentives, make a direct linkage between the goal and the reward. I’ve always liked setting “commit” and “stretch” goals. The commit goal is something where folks are signing up to deliver it no matter what. There’s zero bonus associated with hitting a commit. It’s the “you did your job” level of goal. A “stretch” is the furthest point that folks think is in the realm of possibility. They have an idea for how they’ll achieve 70% of it but no clue where the last 30% will come from. And to be clear – that first 70% will take a lot of blood, sweat, and tears to hit. With a stretch goal, people can max out their bonus.

If you have a commit goal and a stretch goal, put the bonus on a sliding scale between those two instead of creating an all-or-none scheme. A “commit” goal is the minimum that someone will deliver to the organization. At the “commit” the bonus is zero. A stretch goal is a high level of impact that will take a tremendous amount of effort to achieve. If someone hits their stretch, the bonus should be 100% of what’s available as an incentive.

Teams can get extremely frustrated when they hit 85% of their stretch goal and they get nothing for it. They should get 85% of the possible bonus. I’ve been in both of these situations. I was in one organization where we had a commit of $50 million of profit and a stretch of $75 million of profit. At $50 million dollars, our bonus was going to be zero. If we hit the commit, there was no bonus. At $75 million of profit, the bonus was going to be 10% of our salary.

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Developing Stronger Executive Communication Skills

September 16, 2020/0 Comments/in Business Toolkit, Communications, Leadership, Strategy /by Ryan Shaw

Mike Figliuolo, thoughtLEADERS Managing Director, sat down with Adam Torres of The Money Matters Top Tips Podcast to talk about executive communication.

In this podcast interview, Mike reunites with Adam Torres of The Money Matters Top Tips Podcast to delve deeper into his personal thoughts and tips on executive communication.

Mike breaks down executive presence and what exactly it is, and then points out a few of the standard shortcomings that people point out with regards to executive presence and how finding a few small fixes really can move the needle in interacting with others.

As the discussion continues, Mike gives his top tips for improving this executive communication, starting with knowing your audience, something people have heard many times before, and how finding and knowing that hot button topic to get people engaged and bought in is a game changer. And then being able to assemble everything beyond facts into a compelling story that further engages the ‘audience.’

Stay tuned for more of podcast features and interviews from Mike and the rest of the thoughtLEADERS team.

Money Matters Top Tips Podcast – Mike Figliuolo

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The Importance of Emotional Intelligence in the Workplace

August 10, 2020/0 Comments/in Business Toolkit, Communications, Guest Blogger, Leadership /by Ryan Shaw

Emotional intelligence is no longer a ‘nice to have’ in the workplace, but a ‘must have’ to be effective in the modern workplace.

Today’s post is by Asha Tarry.

Emotional intelligence skills are those important soft skills that are now reaching the desk of more and more leaders. It used to be targeted as a set of skills that belonged to customer-driven and service industries. However, we are learning there are people who are inept at having those important, emotional, human skills which connect people and build strong teams.  That is why emotional intelligence is now being considered an important asset for employees.

We need to reevaluate how we review resumes. It matters that employees have a good grip on soft skills. For example, being an effective communicator, and being able to adapt to the different styles in which people work, should become required skills. Most people want to avoid certain emotions at work, but that is where they spend most of their time. That is why emotional intelligence should not be limited to helping just customer-driven industries or education workers.

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Change Starts At The Top

August 3, 2020/0 Comments/in Business Toolkit, Communications, Guest Blogger, Leadership, Sales, Strategy /by Ryan Shaw

Leadership cannot be do as I say, leadership must also be do as I do, show your team how you want to operate.

Today’s post is by Pat McManamon, author of The Intentional Sales Manager (CLICK HERE to get your copy).

As a sales leader, you have to admit it’s been an interesting year.

You’ve been faced with business challenges you never even imagined you would encounter. Guess what? Your sales people are in the same situation! Your decisions, like theirs, are going to be crucial.  What criteria will you use to make them?

Business is still being conducted; prospects are reaching out; your competition is on the phones and on the streets; customers are buying.  Many companies I’ve spoken to had a record month in March despite the disruption of a nationwide shutdown. All signs point to a strong recovery in the near future for those who are prepared. But we must be prepared to make constructive changes, and we must accept that the most important change starts with us!

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Creating Galaxies Not Pyramids

July 27, 2020/0 Comments/in Business Toolkit, Communications, Guest Blogger, Leadership /by Ryan Shaw

The top-down hierarchical structure of organizations is limited and outdated.  Here are four tips for leaders to adjust their strategic planning process to support a networked model.

Today’s post is by Chris Yates, author of Share (CLICK HERE to get your copy).

During my work from home life, kids have been teaching me how to win Battle Royale in Fortnite.  For my 10-year old son, it’s all about taking the high ground to snipe at your opponents.  My 12-year old daughter, on the other hand, builds networks and alliances. She is already conditioned by societal gender stereotyping to win not through force or the relentless focus on the high ground.  She seldom loses, and is perhaps better prepared by that same stereotyping to win in a future world.   

In most organizations, there is a basic assumption that the hierarchy of titles represents the hierarchy of information.  Bosses know best because they’ve taken the high ground. Most management books, gurus, and models created to date have been based on the same premise of a vertical organization with a hierarchy of power.  Recently, management theory has been about creating a more effective pyramid, by turning it upside down and calling it servant leadership.  Nevertheless, it’s still a pyramid. 

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Leading With A Story

July 22, 2020/0 Comments/in Business Toolkit, Communications, Leadership, Strategy /by Ryan Shaw

In this episode of Innovating Leadership Maureen Metcalf, thoughtLEADERS Principal, sits down to discuss with Paul Smith, a fellow thoughtLEADERS Principal, about the power of stories.

Paul talks with Maureen about his perspective and thought process on the power of story for leaders.

He shares his insights about what works, why it works and how you will be more effective as a leader if you master the use of story as one of your skills. Paul recounts a compelling story told by Bob McDonald, CEO of Proctor and Gamble and connects it to a primary leadership and parenting lesson for him.

Through his use of story he illustrates a couple of things like what is a great leadership story? What are the primary elements the make up a great leadership story? He also breakdown why you should use stories to lead and sell and just what are the most common mistakes of using stories. This discussion will have you walking away with the foundations of using and telling your personal leadership story.

Stay tuned for more of these leadership discussions between Maureen and Paul, along with a few other team members from thoughtLEADERS, being featured on the Innovating Leadership podcast.

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https://i0.wp.com/www.thoughtleadersllc.com/wp-content/uploads/2020/01/20200722-Book-Stacks.jpg?fit=1920%2C1280&ssl=1 1280 1920 Ryan Shaw https://www.thoughtleadersllc.com/wp-content/uploads/2022/04/logo.png Ryan Shaw2020-07-22 06:30:402020-07-23 08:48:52Leading With A Story

Who is the Best Coach in the World?

July 20, 2020/0 Comments/in Business Toolkit, Communications, Guest Blogger, Leadership /by Ryan Shaw

A critical part of effective leadership and success means the understanding of including all stakeholders and total collaboration in your leadership model.

Today’s post is by Antonio Garrido, author of The 21st Century Ride Along (CLICK HERE to get your copy).

Ask a bunch of top executives who they believe is the best coach in the world, and they will likely reel off the names of ‘the usual suspects’ – you know, the ones that pay millions a year to their SEO-agency in order to occupy that cherished top spot on any of the most common coach-related web-searches.

…And, they’d all be wrong.

The very best coach that you (or anyone else, for that matter) ever knew was your mom – or whichever family member spent the most time bringing you up when you were a tiny tot: the one who was with you when you learned to walk, talk, read, and write. Heck, it took an age to get you to tie a shoelace, brush your teeth, ride a bike, and master the use of a fork, and you’re a real smarty-pants, right? Let’s not forget, forks can be tricky, of course.

Here’s the thing, the reason that your mom was the best coach you ever knew is because of her willingness to see you grow and develop and thrive. It was more important to her to see you do well than her own level of discomfort in getting you there: she cared more about your progress than the limits of her own patience and well-being, and that’s the mark of any great coach. If you are not prepared to invest heavily in the growth and development of your team, you’re not being a good coach (parent).

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https://i0.wp.com/www.thoughtleadersllc.com/wp-content/uploads/2020/05/20200720-Little-Kids-Coaching.jpg?fit=1920%2C1280&ssl=1 1280 1920 Ryan Shaw https://www.thoughtleadersllc.com/wp-content/uploads/2022/04/logo.png Ryan Shaw2020-07-20 08:00:222020-05-12 13:24:30Who is the Best Coach in the World?

Applying Storytelling to Sales

July 15, 2020/0 Comments/in Business Toolkit, Communications, Leadership, Strategy /by Ryan Shaw

Paul Smith, thoughtLEADERS Principal, sat down with Jim and Jan of The Leadership Podcast to discuss storytelling and how it can make your role as a salesperson easier and more effective.

In continuation of our new collaboration with The Leadership Podcast, Paul breaks down just how storytelling can make you a better and stronger salesperson in this short form “chalk talk.” These chalk talk series are bitesize sessions on a common (but challenging) leadership issue.

After his previous breakdown of storytelling for leaders, Paul takes some time to differentiate storytelling for leaders versus storytelling for salespeople, and how the storytelling really affects the emotional decision making that we do as human beings.

Paul goes into the framework for a great story that works in a sales environment and how it differentiates from our traditional idea about storytelling, like a bedtime story. He gives further insight into what it takes to really build a compelling story and get buy-in from your audience.

Stay tuned for more of these brief Chalk Talks featuring Paul, as well as many more members of the thoughtLEADERS team.

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https://i0.wp.com/www.thoughtleadersllc.com/wp-content/uploads/2020/02/20200715-Microphone-in-Room.jpg?fit=1920%2C1275&ssl=1 1275 1920 Ryan Shaw https://www.thoughtleadersllc.com/wp-content/uploads/2022/04/logo.png Ryan Shaw2020-07-15 06:30:452020-02-25 16:32:24Applying Storytelling to Sales

How to Develop Resiliency During Times of Stress

July 8, 2020/0 Comments/in Books, Business Toolkit, Leadership /by Ryan Shaw

20191218 Leadership Emotions

Finding ways to be resilient during difficult times is a key factor in what makes a strong leader.

Today’s post is by Maureen Metcalf, a thoughtLEADERS principal.

Resilience is a key factor in leadership success during times of stress. Our ability to manage our own energy and thinking have a significant impact on our ability to deliver personally and on our ability to inspire our followers. By building our resilience and creating a culture where others are expected to build theirs, we can make a significant impact on driving and sustaining our success as individuals and as organizations. Jon and Maureen start with defining resilience then move to the critical aspects of personal resilience. They include a focus on how brains and bodies react to stress and practices that will reduce the impact events have on leaders. discuss their areas of expertise in brain functioning. This interview includes a discussion of specific tools that allow leaders to build more resilient brains and reduce emotional reactivity. These tools help leaders manage feelings thereby also reducing stress. Equipped with these tools, leaders need to build practices.

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https://i0.wp.com/www.thoughtleadersllc.com/wp-content/uploads/2019/10/20191218-Leadership-Emotions.jpg?fit=1920%2C1277&ssl=1 1277 1920 Ryan Shaw https://www.thoughtleadersllc.com/wp-content/uploads/2022/04/logo.png Ryan Shaw2020-07-08 06:30:102019-12-04 14:31:58How to Develop Resiliency During Times of Stress

How Smart Leaders Get Their Teams to Exceptional Results

July 1, 2020/0 Comments/in Business Toolkit, Communications, Leadership, Strategy /by Ryan Shaw

In this episode of Innovating Leadership Maureen Metcalf, thoughtLEADERS Principal, interviews Victor Prince, a fellow thoughtLEADERS Principal, about guiding leaders to exceptional results.

In today’s interview, Victor talks about the power of applying the “Leadership Matrix” -the box- to team management.

He will describe what exactly the Leadership Matrix is, how it works, and how it will help you get the best out of yourself and your team.

Victor, through all of this, will also answer a few of the below questions:

Who should read Lead Inside the Box?

What problem does it help them solve and how do you help people solve that problem?

He will walk us through the different parts of the Leadership Matrix, explain the four boxes and how to utilize this tool to allocate leadership time by the various groups.  Victor provides great insights about how this structure helps managers and leaders think through what employees need using a framework to categorize where they are right now. This tool can also help shift people to become more productive.

Stay tuned for more of these leadership discussions between Maureen and Victor, along with a few other team members from thoughtLEADERS, being featured on the Innovating Leadership podcast.

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https://i0.wp.com/www.thoughtleadersllc.com/wp-content/uploads/2020/01/20200701-Results-Sign.jpg?fit=1920%2C1440&ssl=1 1440 1920 Ryan Shaw https://www.thoughtleadersllc.com/wp-content/uploads/2022/04/logo.png Ryan Shaw2020-07-01 06:30:502020-07-23 08:53:36How Smart Leaders Get Their Teams to Exceptional Results

Leadership the AirBnb Way

June 29, 2020/0 Comments/in Business Toolkit, Communications, Guest Blogger, Leadership /by Ryan Shaw

Sometimes the best leaders are the ones at the back of the pack, helping to drive everything forward and sometimes they are out front, and other times it benefits to be both, just like AirBnb.

Today’s post is by Joseph Michelli, author of The AirBnb Way (CLICK HERE to get your copy).

Around 2007, Simon Cooper was the CEO of the Ritz-Carlton Hotel Company, where I was working with their senior leadership team. Simon and I were exploring how Ritz-Carlton could adapt to meet the needs of changing luxury travelers without losing the company’s legacy customer base. Simon offered an example of the challenges faced by the luxury hotel company in 2008, “I had a guest complain to me that he saw one of our bartenders serve a young guest a bottle of beer without a glass. When I looked into it, I informed the complaining guest that the service was a result of the young guest having asked for his beer to be served that way a day before. That is the challenge … to customize the experience to the guest, ensuring that traditional and new-generation guests are each treated respectfully in accord with their wishes.”

In that same year, two men in San Francisco (Brian Chesky and Joe Gebbia) were facing a very different accommodation challenge. They were trying to make rent for their apartment after a third roommate moved out. Since Brian and Joe had recently graduated from the Rhode Island School of Design and given that a design conference was coming to San Francisco, the roommates decided to create a make-shift website targeted to conference attendees. They planned to place three air mattresses in the spare room and offer breakfast (in the form of uncooked pop tarts) for $80 per night, per guest, for the duration of the conference. A little over a decade later, that air mattress bed and breakfast arrangement has turned into Airbnb (a company that lists more than seven million properties on its well-evolved digital marketplace – 14,000 listings are tiny homes, 2,500 are tree houses, and 5,000 are castles).

In my book, The Airbnb Way, I detail the business strategy that fueled Airbnb’s meteoric rise. For the purposes of this article, I’ll focus on the three elements of leadership, which set the foundation for Airbnb’s impact on the hospitality sector. Those three components are:

Identification of a Disruptive Gap and Innovation to Fill It

Open Mindsets of Founders and Leaders

Clarity of a Branded Experience

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Applying Storytelling to Leadership

June 17, 2020/0 Comments/in Business Toolkit, Communications, Leadership, Strategy /by Ryan Shaw

Paul Smith, thoughtLEADERS Principal, sat down with Jim and Jan of The Leadership Podcast to discuss storytelling and how it can apply to your leadership ability and skill

In continuation of our new collaboration with The Leadership Podcast, Paul breaks down just how storytelling can make you a better leader in this short form “chalk talk.” These chalk talk series are bitesize sessions on a common (but challenging) leadership issue.

Paul gives Jim and Jan some background on the current renaissance and rediscovery that is happening in relation to the power of storytelling, and the distancing away from the heavy focus on analytics that happened around the same time as the expansion of the digital age, and the return to a more human-centered approach.

Paul elaborates on the definition he shares with executives and leaders on what exactly ‘storytelling’ is, and how we can continue to blend the two worlds of data-centric and human-centric to tell better, more compelling stories.

Stay tuned for more of these brief Chalk Talks featuring Paul, as well as many more members of the thoughtLEADERS team.

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Innovative Leadership Fieldbook
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Leadership Vertigo
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The Camino Way
Hijacked by Your Brain
Outthink the Competition
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Disability is Human
Race to Innovation
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Business is Simple
Global Mindset
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