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Entrepreneurship Leadership Personal Development

The Secret of Entrepreneurship

Entrepreneurs change the world, but not in the way that you think.

Entrepreneurship can be one of the single most impactful ideas in business today. Entrepreneurial thinking, intrapreneurship, and innovation are pervasive ideas throughout the industry today. Many entrepreneurs that call themselves creatives, they know that they’re creating and building something — giving them a singular vision of what they want to bring into the world.

  • For many, it is malleable, able to change and adapt as they grow and learn.
  • For some, it is a straight-forward single-minded idea.
  • For everyone, it is a problem that they are passionate about solving.

Entrepreneurship makes lives better because it brings new ideas into the fold. Some stick, smartphones, social media, others fade, pet rocks, Beta Max, but all leave an impact, even if it is merely an example of something whose time hasn’t yet come, i.e., Apple Newton.

The key to this is, whatever you want to do, it is entirely up to you to figure it out.
Entrepreneurs’ ideas don’t have to be game changing. In fact, among our communities the most impactful entrepreneurs often have some of the most mundane ideas; they merely do it better and bring a little extra to the table.

The one common element that every entrepreneur has is resilience.

Resilience merely is the ability to remove “I can’t” from your vocabulary. Period. This simple lesson is the most important and is what primes entrepreneurs for success. Because every venture with either will either fail, face hardship, or require grit and determination to move forward.

Never giving up is what separates the successful entrepreneurs from those who fall short.

Entrepreneurship doesn’t have to be a world-changing idea. It has to be something that someone is passionate about and willing to see through to the end.
The smallest venture can have the most significant effect. Moreover, for many entrepreneurs, it is not about changing the world. It is merely having an impact on their lives, families, and neighborhoods — the idea of building a career for themselves that bring value into their communities in new ways.

I had a great lunch the other day with The Hero Club, another great organization within the C-Suite Network and had a chance to sit down with some fantastic entrepreneurs that have stared some significant and highly impactful ventures.

I asked them, what was the one thing that kept you going and truly helped you build your business. After some thinking, I received a multitude of answers, all along similar lines; persistence, determination, unwillingness to let go, plain old stubbornness. In short, it was the will to succeed that drove them to create something bigger, better, more profound. It is the will to carry on that creates successful entrepreneurs, not a fancy pitch deck.

It is looking at the world in slightly different ways, finding a problem, proposing a solution, then running with it. However, and more importantly, it is the ability to be able to bounce back from mistakes and missteps. Learn from them, grow, and continue to move forward. Be stubborn about what you’re passionate about. The never give up, never quit, learn, adapt, improvise, and overcome attitude is everything in this area of business.

We don’t have to change the world, but entrepreneurs everywhere are finding ways to improve their lives and their communities. If you look at the aggregate, incremental, impact of all their ventures, it does change the world.


You can find our podcast conversation on entrepreneurship and local impact on The Leadership Update Brief on C-Suite Radio.

Ed Brzychcy is former U.S. Army Infantry Staff-Sergeant with service across three combat deployments to Iraq. After his time in the military, he received his MBA from Babson College and now coaches organizational leadership and growth through his consultancy, Blue Cord Management.

Categories
Growth Management Personal Development

The Power of Great Mentorship

Building a business, managing change and transition in our personal and professional lives, and entrepreneurship are all difficult — they amount to some of the most challenging things that many people will attempt throughout their lives.

How do we consistently rise to meet the challenges in front of us? The answer is simple; have a mentor.

Transformation and growth can dominate our lives, and appear overwhelming, especially when things don’t go according to plan. Mentorship holds the answers to these problems.

There are two reasons to have a good mentor, ideas and accountability.

A mentor is a person who is going to keep you going, hold you accountable, and ensure that you’re doing what you said that you’re going to do. Secondly, they are there to bounce ideas around. When you’re stuck, when you need help, when you need another set of eyes to look at a problem, a mentor is there to bounce those ideas off of and find a more robust, all-inclusive, solution to the challenge that you’re facing.

This idea of mentorship resonates well because it solves the problem of how to effectively meet our most significant challenges. We cannot do it alone.
Seemingly insurmountable challenges in leadership, change, and transformation happen all the time. A recent survey published in the Harvard Business Review from VitalSmarts found that, while under pressure, managers:

  • 53% of leaders are more closed-minded and controlling than open and curious.
  • 45% are more upset and emotional than calm and in control.
  • 45% ignore or reject rather than listen or seek to understand.
  • 43% are more angry and heated than cool and collected.
  • 37% avoid or sidestep rather than be direct and unambiguous.
  • 30% are more devious and deceitful than candid and honest.
Figures from VitalSmarts – https://www.vitalsmarts.com/press/2018/11/the-manager-effect-1-out-of-3-managers-cant-handle-high-stakes-situations-and-as-a-result-their-teams-are-less-successful/

These results are intolerable. These pressure points are the hallmarks for great success, not points to be misstepping.

I wonder, if these managers had a solid mentor by their side how much more effective they would be at overcoming their challenges.
Because we all need help, no one should undertake a great challenge alone. And we all need that space to go and bounce ideas off of, have a little accountability added into our routines, and sometimes, to go and vent that things are not well right now.

By having this space, people can:

  • Remain open and curious.
  • Stay calm, collected, and in control
  • Gain a greater understanding of their situations
  • Provide direct support and guidance to their teams
  • Feel secure in remaining candid and honest

Leaders need to do all these things. A great mentor offers the space and insights to allow it to happen.

Mentorship is the key, and every great leader, entrepreneur, or anyone who is facing change and transition should have one. It is the outliners where we see our greatest successes. We are all good at accomplishing the day-to-day. It is when things change, or the unexpected occurs when we face our most significant challenges. The fundamental truth is that we don’t know what we don’t know. Mentorship fills these gaps, educates us on what we don’t know, and gives us an outlet to create an action plan to fill these spaces. We all aspire for greatness, but the critical skill we have to develop to get there is how, and who, to ask for help.


You can find our podcast conversation on mentorship and growth with Ed Marsh on The Leadership Update Brief on C-Suite Radio.

Ed Brzychcy is former U.S. Army Infantry Staff-Sergeant with service across three combat deployments to Iraq. After his time in the military, he received his MBA from Babson College and now coaches organizational leadership and growth through his consultancy, Blue Cord Management.

Categories
Growth Leadership Personal Development

The Complexity of Leadership Responsibility

Leaders have one primary responsibility. Facilitate their team toward accomplishing a mission.

However, the mission has become so complicated, ambiguous, and involving so many stakeholders that it can feel nearly impossible to accomplish in a way that satisfies everyone.

This dichotomy is the ultimate challenge in leadership.

When we look at leadership, growth, and change in business, there is only one certainty. Saying, “Because we have always done it that way.” is always the wrong answer. Homogeneous thinking is, and complacency is a sure way to miss something, fail to put something in place or be left behind.

As leaders reconnaissance becomes one of our primary responsibilities, we have to remain situationally aware and understand not only the lay of the land. We also have to become acutely aware of what is out there as far as opportunities and challenges, and how these can affect us, and how our actions affect not only those above and below us but also those adjacent, as well as internally and externally.

I had the distinct pleasure of speaking with Bawa Jain, the Secretary-General for the World Council of Religious Leaders at the United Nations, and one of the founders of  The Center for Responsible Leadership.

He poses three simple questions to help resolve these issues and lists these three critical principles towards assisting leaders in finding sustainable solutions to their missions and directives.

  1. Are we making decisions for the present or the future?
  2. Are we acting out of conviction or convenience?
  3. Is this constructive or destructive?

Our answers to these questions can help us build some foundational clarity to our mission that can help us alleviate the challenges behind conflicting stakeholders, ambiguity, and complexity in our goals and directives.

As leaders, we do not have the latitude to think that we are ever “in charge” instead, we have to accept the responsibility that our teams, people, mission and accomplishments are in our charge. It is up to us in our roles to find the most positive, and productive methodologies and outcomes towards meeting the opportunities that we see before ourselves.


You can find our podcast conversation with Bawa Jain on The Leadership Update Brief on C-Stuite Radio.
Ed Brzychcy is former U.S. Army Infantry Staff-Sergeant with service across three combat deployments to Iraq. After his time in the military, he received his MBA from Babson College and now coaches organizational leadership and growth through his consultancy, Blue Cord Management.

Categories
Best Practices Growth Leadership Personal Development

Making Decisions Outside Your Comfort Zone

Business leaders must become aware of their cognitive biases in how they make and execute on their decisions. These decisions can affect their teams, the growth of their organizations, and the future potential gains, and losses, that the business receives.

Loss aversion is the cognitive bias where people naturally lose a more significant amount of satisfaction from a loss than they receive from a similarly valued gain. This bias manifests in two distinct patterns, in anticipation, and in framing a particular loss or gain.

Anticipation can become a crucial component of this bias, and affect decision makers based on how they have experienced gains or losses in the past. Decision-makers who have historically faced a weighty loss may become more hesitant to enter similar situations. This hesitation can lead to lost opportunities or undue delay in moving forward on projects. For example, hiring managers who have felt that a number of their poor hires have come from a particular generation may be hesitant in hiring similar candidates. Just the same, those decision-makers who have beaten the odds in the past may have a skewed sense of their success and take more significant risks in the future. Every financial prospectus explains this flawlessly, “Past performance is no guarantee of future results.”

Framing the risk, and explaining the loss in different terms may also affect how decision-makers approach a solution. Objectively, gaining a discount or avoiding a surcharge is the same. However, both situations elicit different emotional responses. Based on their past deals, and how they approach situations, this opt-in versus opt-out can skew behavior and allow for poor decision making towards critical business matters. Managers who are facing cutting expenses from a budget may overlook opportunities to raise revenue because their focus is only on the expense column.

Ultimately business leaders must remain objective in their decisions.

Extensive subjectivity or emotional involvement in the subject matter can allow for leaders to become irrational and not make the best decisions with the data and information present. Business leaders must be able to look past the data and see it in context. One data point, however it may be framed, is still a single data point. The more considerable power of data is in being able to view it in context, either to other similar points, or trends over time.
Similarly, managers must be able to see the upside of choices and understand that the most significant gains lie in the outliers. If all of our decisions must be satisfied within six standard deviations, then it will become impossible to progress and make the necessary leaps for remaining competitive in today’s dynamic market environment.

Every day business leaders are forced to expand their comfort zones. Remaining knowledgeable on this common cognitive bias can help ensure that they are making the best decisions in leaving their safe space and exploring how they can expand, especially in incremental ways.

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Best Practices Growth Leadership Personal Development

Are You Ready to Promote Someone?

Are your people ready for their next step up?

Promoting from within can be an excellent method of filling the ranks within a growing organization, but there are several pitfalls for senior leaders to consider when organizing their promotion plans and elevating people into new or elevated managerial positions.

These considerations fall into the broad categories of technical skills, peer relationships, and leadership attitude.

Promoting from within is never easy for organizations, but there are concrete steps to ensure that new managers are set up to succeed in their new roles and that their teams are not left leaderless and directionless.

Managers, especially new supervisors, are often promoted on technical merit. After all, if someone is good at a particular job, it can be easy to assume that they are ready for a direct supervisory role over others in the same or similar functions. Job functionality is only part of leadership competence. New managers often find themselves lacking or having little organizational, strategic, and interpersonal skills for their new roles.

For these managers it can be stressful adapting from actively being engaged in one project at a time to managing multiple projects over time, keeping track of each and ensuring accurate and positive outcomes for each. Just the same, they often cannot see how their job affects others inside and outside the organization on a more strategic basis and can have difficulty in finding the appropriate solutions to their teams’ larger-scale problems. As these problems intensify, new leaders can feel additional stress and become further removed from building the crucial relationships with their teams in establishing themselves as a growing leader and functional manager.

Compounding these interpersonal worries — and having the appropriate interpersonal skills to manage, direct, inspire, and review their personnel — is the aspect of their past peer relationships. No one should ever be denied a promotion because they have close friendships in an organization, but these friendships enter a new dynamic when one is promoted over the other, especially if the newly promoted manager finds themselves in a direct supervisory position over their former peers. These new leaders will need additional coaching and support in this environment, as it will be comfortable to either fall back on old relationships creating a possible fraternization atmosphere or become stressed because of the new dynamic and begin to withdraw and craft avoidance behaviors around their former peers.

Attitude is everything in an organization, and it can be an unpredictable aspect to a newly promoted manager. New positions and responsibilities can mean new stressors, and it can often be difficult to ascertain beforehand how someone will react when placed in a higher-responsibility situation. Leaders should be grown into a new position, not thrown in. Proactive mentorship can provide growing leaders an opportunity to hone their skills, develop the mindsets off of a positive role model, and seek resolutions towards smaller problems and apply these outcomes towards larger ones.

New and growing leaders require support in all aspects of their development. It is no simple event to promote someone and then expect them to have the success in their new position as their last. Senior leaders must cultivate a strong strategy in their organizations for how their personnel will grow and develop over time, provide concrete goals, and paths for how careers can, and will, progress.
These pathways should include adequate support at all levels, in both formal training and education, and informal mentorship. Also, there should be planned job enrichment and expansion for growing leaders to give them time to cultivate and hone these skill-sets which can vary widely from their traditional roles.

Categories
Growth Management Skills

Building Relative Vision

Vision is relative.

As organizational leaders, we thrive on the big picture. Not one senior leader that I have spoken with has said to me that this is a 9-5 job for them and that their sense of purpose ends when they leave in the evening. As senior organizational leaders and executives, we gain a great deal of motivation though building strategy, charting new courses though unexpected, and often turbulent, waters, and seeing our organizations reach new milestones in their journeys.

However, in every organization I have worked with there is also a level of stratification where the organization’s junior leaders lose this sense of purpose, and an “us versus them” mentality develops. The idea of “here’s the latest bit from the good idea fairy up at corporate, from people who don’t even know what we’re doing down here, which makes our job harder” is prevalent and demoralizing across teams in the majority of businesses.

The facts show this as well, studies published in Harvard Business Review, showcase a significant gap between strategy and execution. This gap presents a high failure rate which is often not based on having a successful plan but in having junior leaders execute successfully on what the senior leadership has proposed.

Though my coaching and consulting in the past two years I have found that the simplest explanation for this is the vision. Junior leadership often adopts the 9-5, just a job mentality, and the organization’s grander vision is reduced to a few bullet points which are posted in the company break room and given out at annual training events. The junior leaders lose their stake, their purpose in the organization is reduced to merely knocking out tasks without a grander idea of how those tasks contribute to the whole. Likewise, senior leaders are looking for people to execute, but provide no more substantial motivation towards that purpose besides, “it’s their job, do it.”

Building a relative vision is critical in today’s agile and change-orientated business environment. Junior leaders must build up their piece of the company’s overall vision. They must learn how their teams contribute, what their effect is on the larger scheme, and how they may more effectively chart a course through uncertain futures. Senior leaders must find the ways to begin bridging this gap. Simply posting company values and outlining KPIs is not enough. They have to become more inclusive in their strategy sessions, including ideas and input from their subordinate leaders, as well as providing mentoring and coaching opportunities towards these leaders’ personal and professional growth. From all these junior leaders must become more imposed to take action and hold ownership over their pieces of an organization; and as their competencies a grown are proven, they must be given more time and space to manage their teams without excessive or obtrusive management oversight.

All this creates a dynamic leadership structure where motivation is derived from a shared sense of purpose and direction. This shared mentality helps join leaders feel their place in business from more than someone who is merely trying to manage their teams time and resources to someone who is an active participant in a company’s success.

Categories
Best Practices Growth Management Personal Development

Leadership and Golf

Now that it’s winter time and temperatures have plummeted, I can’t help thinking back to last spring and summer when I had the opportunity to spend some time improving my skills at something I’m highly passionate about: the game of golf.

Even if you’re not a golfer, bear with me and please keep reading.

It occurred to me that working with a golf coach to improve my game is analogous to what I do for business owners and managers.

Proficiency at golf and great business leadership are similar in the sense that they are both highly developed skills that require extensive training and preparation before the practitioner can excel.

With both skill sets, the golfer’s and business leader’s abilities must be continuously examined, evaluated and improved – those capabilities are not innate and are ultimately developed through training and careful refinement. While natural athletic ability certainly helps an individual with their golf swing when they first start to play the game, to master it requires practice and dedication.

Business leadership is much the same way. As leaders, our personality, charisma and background contribute to our ability to engage and inspire others. We must also have focus and dedication to improving our leadership skills if we’re going to be highly effective.

Just like golfers who spend hours working on their swing, great business leaders have to carefully refine their ability to work with others and, ultimately, inspire and empower employees to implement business strategies and achieve enterprise objectives.

Both skill sets have a variety of tools for the job.

The rules of golf state that a golfer may have as many as 14 golf clubs in his or her bag. Violation of this rule results in a 2-stroke penalty for each hole played, up to a maximum of 4 penalty strokes.

Those 14 clubs usually include a driver, woods, irons, wedges and a putter. Each club has its distinct use and purpose, mostly dictated by the distance to the target. A skilled golfer can employ different clubs for the greatest effect in any situation – for instance, curving a shot around an obstacle such as a tree.

A business leader also has various tools that must be employed to efficiently achieve the desired outcome. For example, leaders need to possess the ability to delegate tasks. Understanding which tasks to delegate to which people is a skill that is learned and improved on over time.

A leader’s ability to work with staff, influence their behavior – and when necessary, even discipline them – comes through experience and informed, insightful mentorship. Awareness of all the tools available, and when to employ them, is vital because using the wrong tool at the wrong time is just as bad as using the wrong tool at the right time.

No golfer attempts to hit the ball 150 yards with a putter. The wrong club at the wrong time will never produce the desired result.

One thing I learned from my golf coach is that the ‘setup’ is 90% of proper execution. After selecting a club and approaching the ball, the ‘setup’ is how you position yourself for a successful outcome. Gripping the club, positioning the legs, aligning the shoulders with the line of the shot are all essential pieces that need to be in sync before swinging the club at the ball.

When all the setup preparation and forethought is complete, the result is usually a smooth and natural swing that achieves the most significant effect with the least amount of effort. Leadership is very similar: how we approach situations, and our mindsets in dealing with them, will be reflected in whether or not we succeed.

After the setup, the execution of both the golf swing and leadership opportunity should be fluid and decisive. One thing my coach consistently reminded me was not to try to ‘force’ the ball. With a proper setup, the natural mechanics of your body – called ‘muscle memory’ – take over and should produce the desired result.

Something as seemingly insignificant as a poor grip, slight shift in the wrist or shoulder misalignment will ruin a shot every time. That’s one of the frustrations about the game because the negative result is guaranteed every time.

Business leaders who are overly authoritarian or too cautious and guarded fulfilling their roles will not be optimally effective because they’re not approaching each situation with true open-mindedness and creativity in seeking positive results. Truly effective leaders are keenly aware of their abilities and options when dealing with challenges and opportunities. Those are essential elements to successfully reach strategic objectives.

There’s a fine line and delicate balance that highly effective leaders tread and maintain. Being overly dictatorial or disciplinary is usually a certain recipe for failure. Conversely, being non-committal and reticent will lead to the same negative result.

It’s crucial for business leaders to stay authentic, genuine and confident in their abilities. Those characteristics go a long way toward motivating colleagues to strive for their own personal best performance.

In many ways, authentic, genuine and confident leadership is usually a ‘deal maker’ or a ‘deal breaker’. In their absence, staff will be hesitant to buy into and fully support action plans. Team cohesion suffers, and the probability of success diminishes.

It’s often been said about the game of golf that there are a million variables involved in every shot that can go wrong. That may be a bit of an exaggeration, but some days it seems that way!

Leading people is similar in that there are countless variables that combine to produce results. How leaders evaluate, analyze and work with people differs from one situation to the next.

Leaders must be able to plan and clearly articulate the course of action necessary. By maintaining an open mind to various response options, assessing probable outcomes, and selecting, articulating and implementing the optimal response, leaders are far more likely to ultimately succeed.

Of course, it is impossible for a leader to control the outcome of every situation and ensure 100% success – even the most accomplished professional golfers hit terrible shots into the rough, bunkers, and other challenging hazards. Interestingly, great leaders and accomplished professional golfers share an ability to make a smooth and almost effortless recovery to daunting challenges.

Great leaders and accomplished golfers also recognize that not every situation or shot is ideal: but they rapidly assess the situation and its implications and then formulate a strategy or plan that leads to a successful outcome.

Ultimately, what we have to keep in mind is that leadership skills, like golfing proficiency, must be continuously refined and developed. Where a professional golfer can spend hours on a practice range working on his or her swing, business leadership must be demonstrated ‘on the job’, with no ‘Mulligans’ or ‘retries’ available if the first effort fails.

That’s why great leaders have great mentors: trusted advisors who listen to new ideas, make insightful suggestions and help minimize disruptions created by stressful business developments. Don’t ignore one of the age-old cardinal sins of leadership – testing out new ideas on staff without first vetting these ideas with objective input from outside counsel.

I had an incredible journey last spring and summer working with my coach and many others to learn and refine my golf game. I’m still not perfect (that will never happen, I know), but I’m proud to say that my game has improved significantly, and so has my enjoyment of it.

Leaders face similar challenges building and developing their acumen in their leadership abilities. Doing so, however hard it may be, results in both professional and personal satisfaction for themselves and their teams.

 

Contact us today at https://www.bluecordmgmt.com to schedule a no-charge, no-obligation consultation to meet and talk about your company’s challenges and BCM’s services and solutions. Then, we can schedule a follow-up session with your management team and staff that focuses on Business Evolution through employee engagement that leads to personal growth, job satisfaction and organizational success. 

Thinking about how to succeed is important. Doing something to achieve it is essential.

Categories
Best Practices Growth Management Personal Development

Preparing for the Unpredictable

Preparing for the Unpredictable: Tips on Crisis Management

Crisis management, in simple terms, refers to how an organization deals with disruptive, unexpected events that could potentially have a significant negative impact on the organization, its stakeholders, and the public.

No organization – start-up enterprises or long-time market leaders (think Toys “R” Us) – is immune to experiencing a crisis. With proper advance planning (because, after all, crises are usually unexpected), strong leaders are prepared to deal with the unanticipated.

There are usually three common elements to a crisis: the threat to the organization, its stakeholders and the public; the element of surprise; and the need to make decisions and take action quickly.

Successful crisis management can be implemented quickly and efficiently in three steps:

  • Risk Assessment
  • Course of Action Planning
  • Contingency Planning

The risk assessment phase begins with an analysis and prioritization of the risks that the crisis has created. The challenge here is to identify as many possible emerging risks without being overwhelmed by their potential.

Leadership needs to analyze and prioritize these risks so they can be addressed immediately or dealt with at a later date. It’s critical that leaders determine the likelihood of the risks occurring and their potential damage. With this information, leaders can prioritize risks and build them into their planning.

Next, a course of action analysis (COA) should be conducted. A COA determines what can be done to best mitigate current and minimize future risks. While it can be helpful to run “simulations” that analyze hypothetical scenarios (e.g., if ‘A’ happens, we’ll do ‘B’. If ‘C’ happens, we’ll do ‘D’), most leaders of start-ups don’t have the resources in-house to do that. Therefore the COA is often the product of staff brainstorming and discussions – which is invaluable!

The COA provides an assessment of the risks and articulates a preliminary plan for dealing with them.

The COA effort is very time intensive and must be quickly formulated. It is usually limited to two proposed courses of action and details what the most likely results will be, and what presents the greatest potential threats to the proposed courses of action.

Next, leaders must address contingency planning. It is essential to consider long and hard contingency responses should even the soundest, well-considered plan of action fail. Imagining and anticipating worst case scenarios – however unlikely they may seem – is a vital component to effective crisis management.

By rapidly accomplishing these three stages of response, the organization’s teams can be informed and engaged in the crisis management activities. This might include new training for staff as well as increased internal communication efforts.

When it comes to crisis management, there aren’t any hard and fast, silver bullet solutions. Every situation is different. What every   crisis does have in common is the leader’s need to use every resource available to quickly gather knowledge to effectively address the situation.

Leaders – whether in crisis or not – must always be learning about the organization’s operating environment and its people, which greatly helps identify potential challenges or threats. This continuous learning approach leads to greater agility and capabilities in reacting to a crisis.

Ultimately, the actions of leaders shine through in resolving any crises and mitigating the damage. A well-prepared and knowledgeable leader should have the tools available to manage a crisis rather than allowing it to spiral out of control.

Ed Brzychcy is former U.S. Army Infantry Staff-Sergeant with service across 3 combat deployments to Iraq. After his time in the military, he received his MBA from Babson College and now coaches organizational leadership and growth through his consultancy, Blue Cord Management.