Career – thoughtLEADERS, LLC: Leadership Training for the Real World

How often is your organization “penny-wise and pound foolish?”

June 30, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: How often is your organization “penny-wise and pound foolish?”

All the time. We save a little money here but at the expense of important things like quality 42.55%
Sometimes. We’ll pinch pennies on less important things but generally spend on important stuff 47.51%
Never. We always look at the broader implications of spend decisions and make good choices 9.94%

Save now, pay later. A striking portion of respondents (43%) say your organizations focus more on savings than on the longer-term implications of saving a few bucks in the near term. This is usually a costly strategy. What does a lack of quality cost? What does rework cost? While budget and cost pressures are always prevalent, you need to understand the implications of being cheap and how it can cost you more money in the long run. If you’re the person trying to get money to spend, present the cost of skimping on quality as part of your business case. If you can show the negative impact of that short-term savings, you might be able to influence your approving authority to spend in a more thoughtful way.

– Mike Figliuolo at thoughtLEADERS, LLC

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How rigorous is your succession planning process and execution of it?

June 23, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: How rigorous is your succession planning process and execution of it?

Extremely — we know who’s going where next and execute the plan well 5.24%
Very — we know where most people are headed and generally execute the plan 20.95%
Somewhat — we know where key players are going but don’t always execute 33.50%
Not very — it’s unclear where people are headed and we don’t execute well 25.13%
Not at all — what’s succession planning? 15.18%

Who’s next? Nobody knows! Almost 75% of you report only having a vague idea, at best, of who’s going where and when in terms of succession planning. This lack of planning is creating a lot of risks for your organization. First, in a crisis when someone leaves the organization, the lack of planning leads to delays in filling the open role. Second, a lack of succession planning creates attrition risk. If people don’t know what their career path looks like, they get anxious. They want visibility. And if they can’t get visibility with your organization, they’ll leave and get it at another one. By the way, these people craving this visibility are usually high performers who want to take their careers places. Can you afford to lose them (which then triggers the first risk I mentioned). If “people are our most important asset” then we need to act like it. Spend some time assessing trajectories, roles, growth, and expectations. Build and communicate a plan. It will keep your people around longer and it will prepare you to address inevitable departures from the organization.

– Mike Figliuolo at thoughtLEADERS, LLC

Be Careful Which Bus You Get On: Having a Fulfilling Life and Career

June 20, 2022/0 Comments/in Balanced Lifestyle, Books, Career, Guest Blogger, Leadership /by Trevor Jones

If you’re not mindful of the direction your life is headed, you might end up somewhere you’re unhappy with. Be deliberate and intentional about where you’re headed. Answer this set of four questions to get a better sense of your direction.

Today’s post is by Donna Stoneham, PhD, author of The Thriver’s Edge (CLICK HERE to get your copy).

We all face crossroads moments in our lives and careers, those times when we feel compelled to change direction. Those choice points most often arise because we feel inspired to embark on a new adventure or we’re desperate to change the situation we’re in. One of my biggest choice points came seventeen years ago, when I realized that if I didn’t change the bus I was riding on, I might not even be around to have a life and a career.

At the time, I was in my late thirties. I was running my own coaching and consulting practice, starting a new women’s leadership company, and I was going to graduate school, consistently working seventy to eighty weeks. I was employed as a consultant on a change management project for a division of Fortune 500 Company, partnering with a Vice President named Ellen to help to “humanize” her organization. Ellen and I had developed a close friendship over the two years we’d worked together on the project. She’d become a corporate mentor to me and I, an informal coach to her.

One day in late September, Ellen and I met for lunch. She was reeling from her performance review earlier that morning that hadn’t gone well. Working 24/7 with little support, Ellen had single-handedly attempted to change the culture of her organization. Her efforts threatened her boss and some of the senior leadership team as their hierarchical and dictatorial approach to power was exposed and beginning to break down.

I’d never seen Ellen look so hopeless or physically drained. She was sweating profusely and was having a difficult time focusing on our conversation. Led by my concern for her well-being, I told Ellen how concerned I was about her health, then proceeded to tear a piece of paper off the top of the tablecloth and wrote, “Rx for Ellen. Take 3 days off, leave your cell phone at home, and go to a monastery and rest.” Ellen read the note, wadded up the paper, shoved it her purse and said, “Stop worrying about me, Donna, I’m fine! I don’t want to discuss this anymore!”

I paid the check and we said goodbye. Although I knew something was terribly wrong, I had no idea it would be the last conversation I’d ever have with Ellen. Read more

How is your organization handling price increases and rising costs?

June 16, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: How is your organization handling price increases and rising costs?

We’re accepting those increases — everything costs more these days and we understand 22.56%
We accept most increases but push back on unreasonable ones 55.64%
We push back on most increases but accept a few small ones 9.02%
We push back hard on all increases and accept very few 12.78%

Prices are going up, but people understand (within reason). An inflationary environment is tough on everyone but generally respondents agree that they’re willing to take on reasonable price increases from suppliers. 79% of you said you’re accepting reasonable price increases. For those who are increasing prices, be sure your increases are reasonable and justifiable. If it’s been a long time since you’ve increased prices, be sure to point that out in your discussions. Be wary of getting too aggressive though – it could undermine the goodwill you’ve built with your customer. And don’t forget, when your profits increase due to price increases, be a good leader and pass along some of that benefit to your employees. They see you raising prices. They see profits increasing. Most of them won’t ask for a raise but they will leave your organization if they feel like they’re not being valued.

– Mike Figliuolo at thoughtLEADERS, LLC

How much value do you place on your own time?

June 9, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: How much value do you place on your own time?

An extreme amount: It’s the only commodity I can never get back 20.33%
A significant amount: I get pretty upset when people waste my time 40.42%
A moderate amount: Time is important, but I don’t obsess over it 29.79%
A minor amount: I have more important things to worry about 3.23%
A negligible amount: I focus more on outcomes than my time 6.23%

Know your worth. While 60% of you place a premium on your time, the other 40% value it less. This perspective can lead you to take on work you shouldn’t be doing. If you’re an entrepreneur or business owner, this means doing work that doesn’t properly compensate you for the value of your time. If you’re working in corporate, it might lead you to take on jobs that don’t value your skills appropriately. This mindset can also show up in you not pushing back on your employer taking advantage of your willingness to do additional work (evenings, weekends, days off, etc.) because you don’t value your time highly enough. Here are two quick ways to assess the value of your time. First, take your total annual compensation (base, bonus, benefits, etc.), divide by 250 days then divide by 8 hours. Now triple that number. That’s your hourly rate to account for vacation, time off, etc. Ask yourself if the work you’re doing is worth the rate you should make. If not, consider turning it down. The other method is to assess opportunity cost. Ask yourself: if I say “yes” to this work, what do I have to say “no” to? That might be time with family/friends, vacation, exercise, or hobbies. Is it worth giving up those things you like to do in exchange for the work you’re being asked to do? If not, consider pushing back on the additional work. Your time is the most precious resource you have. Treat it accordingly.

– Mike Figliuolo at thoughtLEADERS, LLC

What’s your view on meeting with people purely with a purpose of getting to know them and building a relationship?

June 2, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: What’s your view on meeting with people purely with a purpose of getting to know them and building a relationship?

It’s extremely important and worthwhile 60.83%
It’s important but only with select people 22.43%
It’s of secondary importance to getting stuff done 9.79%
It’s not important and is a “nice to have” if you have free time 4.38%
It’s a waste of time 2.57%

Meeting for meeting’s sake. While it might be counterintuitive to meet with someone without a clear business “purpose” for the conversation, that’s exactly why you should do it. The vast majority of respondents agree that meeting with someone for the sole purpose of building a relationship has tremendous value. If you’re a non-believer, give it a try. Identify a few colleagues, suppliers, customers, or business partners you don’t know very well. Find time to meet with them on a semi-regular basis with no other purpose than to get to know one another better. Freeing yourself from a specific “purpose” or business agenda might yield surprising opportunities. At the very least, you’ll build relationships that can make your work more meaningful and pleasant.

– Mike Figliuolo at thoughtLEADERS, LLC

How “situationally aware” is your team of the perceptions others have of them?

May 26, 2022/1 Comment/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: How “situationally aware” is your team of the perceptions others have of them?

Very: They are very attuned to how others perceive them 12.56%
Somewhat: They’re aware of obvious perceptions others have 46.05%
Not very: They only pick up on the strongest perceptions 30.23%
Not at all: They’re clueless about how others perceive them 11.16%

Do you know what they think? 40%+ of you report your team isn’t very aware of the perceptions others have of them. This can be a problem. Whether that opinion is good or bad, your team is missing opportunities. If the perception is unfavorable, your team can be taking action to improve their performance to change that perception or they can do a better job of communicating the work they do to make sure people know the value they deliver. If the perception is positive, your team members might not be aware that people appreciate their work. This can lead to morale being lower than it should or attrition being higher because they don’t feel appreciated. In either situation, you, as the leader, can go gather these external opinions, interpret them, share them with your team, and help them change their performance or their perception.

– Mike Figliuolo at thoughtLEADERS, LLC

Building Creative Stamina: Three Keys to Strength Training for Adults

May 23, 2022/1 Comment/in Balanced Lifestyle, Books, Career, Entrepreneur, Guest Blogger, Innovation, Leadership, Training /by Trevor Jones

Creativity is a skill that can be built like any other. Understanding your passion and challenging the voices in your head that say “no” are a great way to start.

Today’s post is by Jane Dunnewold, author of Creative Strength Training (CLICK HERE to get your copy).

Maybe it’s disingenuous to say that each of us has the potential to be a creative genius. Gifts of personality are dispensed in varied measures at birth. Humans are tangled balls of social conditioning, reactions to environment, and serendipity. Life isn’t fair. Luck plays a part. We’ve all heard someone say, “I was in the right place at the right time” or “I never get lucky.”

As far as creativity is concerned, most people believe you’ve either got it or you don’t. I can’t tell you how often I’ve heard someone say wistfully, “I’m not creative.” When I hear a statement like that, I think to myself, “No one has ever shown you where to begin.”

Because the fact is, creativity, like any skill, can be cultivated. It takes a healthy combination of self-knowledge and stamina.

Athletes have an advantage: prescribed methods of building stamina, because physical prowess is revered by our culture. Hire a personal trainer and you’ll start with a series of exercises done repetitively – gradually adding reps as the body gains strength. Exercise is specific, varied, and involves what’s called cross training. One day a session of running to work cardio. Next time? Yoga to maximize flexibility. A steady, balanced program of activity keeps the human machine functioning at its optimal level.

So what about the rest of us? How can we engage creatively with what we care about – whether it’s a job or an avocation? And just as important – how can we identify what works against building creative stamina in every aspect of our lives?

I teach artists how to build stamina through what I call “creativity strength training” but the fact is, the lessons apply to everyone.

Here are three aspects of thinking more creatively each of us can embrace.

The Inner Rebel

How effectively do your team members “manage up” and manage your involvement in their work?

May 19, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: How effectively do your team members “manage up” and manage your involvement in their work?

Very: They pull me in as needed and keep me well informed 38.43%
Somewhat: They involve me but not always in the most effective ways 44.11%
Not very: They struggle to figure out how to involve me in their work 8.73%
Not at all: They either involve me way too much or not at all 8.73%

Pulling Leaders In. A large proportion of you report that your teams do a very effective or somewhat effective job of involving you in their work. If you’re not satisfied with how they’re involving you (the “somewhat,” “not very” and “not at all” groups), ask yourself if your expectations are clear for how best to involve you. Have you sat down with them and told them the types of decisions you need to be consulted on? Do they know specific areas of expertise you have where you can help them with problem solving? Do they know the frequency you expect to be updated? Do they know your preferred communication methods (email, meeting, call, etc.) for getting involved? If they don’t know your expectations, it’s unfair to think they’re not doing a good job of meeting them. Sit down with them and answer these questions for them. You might find their effectiveness goes up significantly when they actually know what you expect.

– Mike Figliuolo at thoughtLEADERS, LLC

How willing is your organization to put profits over people?

May 12, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: How willing is your organization to put profits over people?

Extremely: Profit comes first, no matter the cost 11.68%
Very: Money is almost always the first consideration 33.95%
Somewhat: We strike a good balance between people and profit 29.20%
Not very: We value our people pretty highly 16.78%
Not at all: People truly do come first in our organization 8.39%

People first… barely. While the poll results are unsurprising, they’re disappointing. 44% of you point out that it’s profit above people in your organization. For those whose organizations truly put people first, bravo. Your job as a leader is to continue to build on that culture and behave in ways that strengthen it. For those of you working in profit-first organizations, ask yourself the question – how much does it cost to replace an employee? What’s the cost of low morale and low productivity? Because this is the price you’ll pay by continuing to put profit first. An engaged workforce is a productive workforce. That engagement means putting people above profit but the return on that decision is far higher than focusing on short-term financial metrics. Challenge yourself today to find one instance of putting people over profit and build on that momentum tomorrow.

– Mike Figliuolo at thoughtLEADERS, LLC

If you could only invest in helping your people build one skill this year, what would it be?

April 28, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: If you could only invest in helping your people build one skill this year, what would it be?

Leadership skills 23.38%
Resilience skills 23.38%
Interpersonal skills 28.92%
Technical skills 11.32%
Management skills 8.43%
Something else 4.57%

Getting along, getting through, and getting ahead. The results are pretty clear in terms of where leaders believe their teams need help. Getting along with one another requires better interpersonal skills, Remote and blended environments during stressful times can make it challenging to get along. Speaking of challenging times, resilience is seen as an almost equally-critical skill to build. We can only handle so much stress before health and performance suffer. Finally, helping people be better leaders is a third area of focus. Leading well during ambiguous and challenging times can set that individual’s and their organization’s performance apart from others. Knowing these areas require investment, your job as a leader is to make the space and resources available to help your people build these skills. This can be in the form of training, coaching, on-the-job assignments, and mentoring. Spend some time putting together your plan for how you’ll create these opportunities for your team then share that plan with them. Sharing creates accountability and increases the likelihood you’ll follow through on your committed investments.

– Mike Figliuolo at thoughtLEADERS, LLC

What is the largest obstacle to your team’s success?

April 21, 2022/0 Comments/in Business Toolkit, Career, Leadership, Poll /by Trevor Jones

Our reader poll today asks: What is the largest obstacle to your team’s success?

Corporate bureaucracy 25.52%
Lack of resources 27.59%
Lack of skill/talent 13.80%
Lack of clear direction 19.31%
External market factors 4.13%
Lack of motivation 3.79%
Something else 5.86%

It’s a strategy obstacle. When there’s a lack of clear direction, improperly allocated or insufficient resources, and a corporate bureaucracy hampering your team’s success, it all points to a strategy issue. A good strategy will set the right direction and make it clear to everyone. Based on that strategy, resource needs will be clearly defined and properly prioritized. This means getting teams the resources they need both in terms of money and talent. Corporate bureaucracy should decrease in such an environment because resources will be moved away from ineffective controls and into more strategic efforts being driven by market-facing teams. If the strategy isn’t clear, push your leaders to create and execute one. If you’re in a position to define that strategy, stop messing around with the small day-to-day tactical tasks and invest the time in creating a proper strategy that prioritizes resources and clarifies efforts.

– Mike Figliuolo at thoughtLEADERS, LLC

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