365QOD- Day1179

Bad Investments

"Do we have bad profits?"- Jonathan L. Byrnes in Inc. article 35 Great Questions

Last week I wrote a post about how bad business is bad for business.  I believe that we must treat employees and customers as human beings and behave in a way that would reward us with return business.  Anything else and we go out of business.

This quote adds another dimension.  What if we are doing the right thing but it is not profitable?  What is the true cost?

Opportunity cost is the cost of not doing A by choosing to do B.  To maximize returns then one would chose the higher rate of return option.  But what is B looks more profitable initially but then the true cost and profitability are not what was believed?

We need to believe that when we convert data into information that the information is correct.  Based on the best information possible we pull the trigger and make a choice.  Once the choice has been made we need to have a review period when we decide whether to continue with the choice or abandon it.

What is that point?  Well for investing, I use the 8-10% rule.  When an investment drops by 8-10% I will sell it.  This minimizes my loses and provides capital to invest in something that would give a better return.

For projects this becomes difficult.  Once they are funded fully then you can kill it if you believe that the execution will cost more than expected or the business case is no longer valid.

Today's question is:
"How do you know when an investment is going bad?"

365QOD- Day1178

Your Trophy

"What trophy do we want on our mantle?"- Marcy Massura

This is another question in Inc. article titled 35 Great Questions.  It questions our definition of success.  And more importantly how we define success as individuals.

We all have different measures by which we judge something as a success.  I might judge a product success by simply finishing it.  Others might judge the same product by how profitable it is?

The lesson is that one measure does not fit all.  It is no different with employees.  One might value more money as the only thing that matters.  Another might value an additional week of vacation as a great reward.  Everyone and every success is unique.

The quote above asks us to evaluate for ourselves what is the most important measure of success.  If you feel that by doing X you will get a reward Y, what is Y for you?  Even if no one else values it, what will Y give you?

Kids these days get involved in many sports and often time their rooms will display many trophies.  I believe if there are too many trophies then the achievement gets lost.  One big trophy stands out more than many participant trophies.

Today's question is:
"What is your one big trophy you would place on a mantle?"

365QOD- Day1177

If It Was Free

"If energy was free, what would you do differently?"- Tony Hsieh

I saw this question in an article of 35 Great Questions in Inc. magazine.  It made me think of what other things should be free.  Lets talk about a couple.

I believe that most people have a great idea hidden within their minds.  They will never implement it.  If asked why they will respond with money as being one reason.  But what if money was not a limitation?  What would you do differently if you did not worry about money?

Second reason for not pursuing the idea that most would give is time.  If they had the time, they would do it.  I do not buy it.  Most people would be just as busy if half of the work and activities went away.  I believe that other work and activities will fill the void.  It requires restructuring your life to focus on your idea.  What would you do different if you had the time?

Today's question is:
"If it was free, what would you want more?

365QOD- Day1176

Teaching

"I have just three things to teach: simplicity(S), patience(P), compassion(C).  These three are your greatest treasures"- Lao Tzu (I added the S, P, and C)

The other day I found myself looking through calendars.  It is end of April but there were many cool looking calenders for sale.  The quote is from a Zen calendar.  I believe that the three things are priceless and worth exploring.

Often times simplicity provides the least convoluted solution.  It also provides the clarity to clearly see the solution without all of the fluff.  The solution should be simple enough to solve the problem and not complicated because we want it to be cool.  Simplicity could also mean not being dragged down with extra things in our life but living a life filled with only things we need.

Patience is a virtue is an old saying.  Learning patience is hard.  In our world today speed is valued and because of that we have taken up the habit of multitasking.  Even though most of us believe that we are multitasking we really are wasting time moving from one task to another.  Have patience and focus on the task at hand and simply finish it before moving to another.

Compassion is also missing in our world.  We judge others so harshly and save the worst for our self.  We need to note that we are perfect the way we are.  Our past choices are the best we could have made with the inputs we understood at that time so stop playing them over and over again.  The universe is as it should be.  You are as you should be.

Today's question is:
"What else would you teach besides SPC?"

365QOD- Day1175

Leadership Blunder

"They no longer feel accountable."- Anonymous

Recently during a conversation with a manager of a worldwide company the manager used these words to describe her new team.  I immediately followed up with, 'Who had the authority?"  Her answer was, "their manager."

I have seen this before.  A manager comes in to a role and completely removes the authority that a team has.  The team can no longer do anything without the approval of the manager.  The manager has complete control.

So why was the manager surprised that the team was no longer accountable for the projects?  I was surprised at her reaction.  The team's jobs were slowly changed from project managers into project gofers.  They were responsible to get the work done but had no control of resources and funding.

Where did this lead the team?  The manager eventually left the company.  40% of the project managers found better opportunities where they had authority to go along with the responsibility.  I am sure better pay because of the company name.

The only unknown is why the manager felt the need to completely control the team.  I believe the only answer is lack of trust.

Today's question is:
"Why would someone remove all accountability and influence from a team?"

365QOD- Day1174

Hiring and Firing

"Why do you hire people?"- a great question

I recently listened to Kat Cole being interviewed by LinkeIn.  In the interview she said that when her company hires they look for: attitude, and cultural fit.  They can train the person to be able to do the work.

Once the person is hired they have to be given the resources to do the work.  In addition to teh resources, they have to coached on how to properly do the work.  And lastly, be given feedback on how well they are performing.

She never answered the firing portion but it seems to me that there are only fire reasons to fire:
1. their attitude is a problem
2. the person is not a cultural fit
3. they do not use the resources that they were given
4. they do not learn even when coached
5. they do not take feedback constructively

Today's question is:
"How well do you fit with your company along these five reasons?"

365QOD- Day1173

Focused Learning

"There are so many ways to learn, but don't just do it for sake of doing it.  Pick a path and go after it"- Kat Cole

I believe that we all should stop and think about what is our learning goal for the next two years.  Notice that I used the singular not multiple goal.

This learning goal should be your singular learning focus during the next two years to become an expert at X.  The end result should be that you have reached expert level.  Notice taht I did not say mastery.  That will require more time and effort.

But as the quote advises, "pick a path..and go after it"  You need to stay on taht path daily by reading, writing, and doing things towards this goal.  Even a day away from the path could deter your forward progress and set you back a lot.

Today's question is:
"What is your two year learning goal?"

365QOD- Day1172

How's the Water

"in an old tale two fish are swimming against the current.  They pass by an old fish swimming in the opposite direction.  The old fish ask the two, 'How's the water?  The fish keep going and then look at each other and ask themselves,'What the hell is water?"'- An old tale

The other day I was listening to an old video titled This is water by David Foster Wallace.  It was a video that taught a graduating class many great truths.  It is worth searching for.

The tale by itself teaches a great lesson.  How often do we recognize the obvious?  The fish are surrounded by it but yet do not know the name or what it is.

What are some equivalents to waters for us?  I believe daily work life presents many water situations.  We naively plow through the day chores while being surrounded by many people's emotions.

These emotions could be self-directed by others or hidden towards others.  They can be constructive or destructive.  Yet we might not even notice them or their potential effect on our career.

I believe we need to spend 1% of our day thinking about the emotional state of those around us at work.  Where are they at and more importantly where are they heading.  It could be to our peril if we do not invest these 15 minutes.  An insecure person around us could be a great danger.

Today's question is:
"What are the emotional states of those around you?"

365QOD- Day1171

Be Less Certain

"Blind Certainty- a close mindedness that amounts to an imprisonment so total that the prisoner doesn't even know he's locked up"- David Foster Wallace

Tonight I watched most of a Frontline show on prison solitary confinement.  It clearly showed how people quickly deteriorate when placed in a box for most of the day without human contact.  It sucked out the will to live and quickly they deteriorated into self-destruction.

The quote above focuses on a different type of imprisonment.  But are they the same?  The prisoners know that they are locked up and even if they wanted to leave can not. They have no choice.

How about blind certainty?  Well the quote teaches us that the person might not even know that they are locked up.  It is completely internal.  No fences exist.  Unlike the solitary confinement prisoner, we have a choice but we never exercise it.

We like being imprisoned by blind certainty.  We like it so much that we only want new information that fits the existing certainty.  Quickly we can discount and dismiss anything different from our belief.
The choice to remove the certainty is available.  We just have to be big enough to exercise it with a little bit of doubt about everything we believe to be true.

Today's question is:
"How can you be less certain of what you believe to be true?"

365QOD- Day1170

Bad Business

"Bad business is bad for business"- as told to Manny by Chuck Cox

The other day I was in a barber shop when my barber said this.  The phrase was simple to remember but yet packed a powerful punch.  So what does it mean?

When dealing with customers we can behave in a non-supportive ways and in supportive ways.  Bad business simply means you believe that this one time encounter with the customer is the only time you will have to deal with the customer.  And if you are behaving badly most certainly it will be the last time.

Why?

I have had two barbers in the last 20 years.  I only changed my barber when I moved to Texas.  Sometimes I even go back home and by design get a haircut by my old barber Alex.  Why?  We have a relationship that spans 17 years.  Why wouldn't I go back and reconnect?

Same thing with Manny.  Manny has been cutting my hair now for 2.5 years.  Most likely if I stay in the Houston vicinity in the future, Manny will continue to be my barber.

It is all about establishing and nurturing the relationships.

Today's question is:
"How do you practice good business?"

365QOD- Day1169

Rinse and Repeat

"Leadership is like bathing.  It needs to be practiced every day in order to be improved"-  Robert Trajkovski

This is the last of the 9 posts dealing with leadership.  It is based on an article titled 

9 Ways to Become a Better Leader in Entrepreneur magazine Rob Reuteman

Principle#9  Practice leadership skills daily.

If you want to improve at anything, you must practice.  Not just any practice.  The practice must be  deliberate and purposeful.

So how does a manager practice leadership?  Simply by considering every situation as a moment of  influence that affects their employees performance and lives, a leader can improve their performance.   It is by being present in those moments and working on relating to people that you become a true 

leader.

Not every decision you make will be agreed to by your team or your bosses.  It is up to you to get  better at relating and connecting.  It is a daily practice. Deliberate daily practice.

Today's question is:

"Do you practice leadership every day?"

365QOD- Day1168

Broken Bell Curve

"Hire ten Einsteins, nine of them will be great, fire the one that is not"- Result of faulty  corporate review process

Principle#8 Get rid of poor managers. 

This principle is a very tough one to stomach and can easily be abused.  In my career I have seen  great employees who have been terminated because of their poor bosses.  

Hell GE even boasted of getting rid of 10% of their employees.  The CEO Jack Welch thought that it was better to get rid of the bottom performing employees than to help them achieve success.  He hired well, and fired fast.

So is GE a better company today?  Are other companies without imagination that follow the GE  model better off?  I do not believe they are.  All that this type of thinking does is make employees  want to play the game long enough until they realize that it is not a matter of whether they will be  fired, but simply when.

Following this principle literally creates fear in employees and eventually they have to leave the game  in order to start somewhere else as the new Einstein.

Today;s question is:

"Are you and Einstein or a dunce?" 

365QOD- Day1167

Fuzzy Focus

“To conquer frustration, one must remain intensely focused on the outcome, not the obstacles.” T.F Hodge  From Within I Rise: Spiritual Triumph Over Death and Conscious Encounters with "The Divine Presence"

Principle#7 Be laser-focused. 

It is easy to get distracted. Man... the new sexy project is so much more fun than the one you have been working on for six months. You can easily get pulled by its force and lose your focus.

To be a great leader we must be laser- focused.  A few months ago I wrote about the four disciplines of execution.  The goal was to find a singular goal of the format From X to Y by Z date. Then the team would determine leading and lagging indicators.   

By picking a singular goal to laser focus on the team will succeed.  The team will still be responsible for the day to day activities but the 20% of  the focus time should be on a singular goal.  This type of focus allows your team to hit several key goals each year while maintaining the forward path.  When everything clicks, your leadership will be deemed superior.

Today's question is:

"Do you have laser of fuzzy focus?"

365QOD- Day1166

Lack of Self-Knowledge

“Tomorrow, we have a march in Washington D.C.,” noted a jean-clad, long-haired man wearing a Down with Nixon T-shirt.   'Mother, we want you to march with us.'

'What is the march about?' asked Mother Teresa.

'Against the Vietnam War,' replied the young man.

'A march against the war,' repeated Mother Teresa.  'I am sorry, I will not join you.'

'Why not?” the young man asked, disappointed.  'We really want you to march with us,' he insisted.

Mother Teresa replied:  'If you have a march against the war, sorry.  But, if you have a march for peace, I  will lead.'- Unknown

Principle#6: Know Yourself

One of the books that I will write someday is my autobiography.  The purpose of it is to re-think through my own decisions and experiences and make them valuable to my kids and others.  It  is my way of getting to know myself.

In principle #5 we talked about Mr. Know It All.  Knowing yourself has nothing to do with your external actions.  You can know yourself and still behave badly.  

To know yourself, you must perform an internal examination of what is important to you and why it is  important.  What do you stand for?  What do you stand against?

The quote teaches us that we should focus on causes for which we are for rather than against.  As a  leader, are you aware of who you are as a person and the impact you have on those around you and working for you?  Are you honest about your behavior?  Who are you consulting to help you evaluate your behavior?

Without questioning yourself, you will never get to know yourself.  But you have to be willing to get feedback and make constructive changes.  

Today's question is:

"Are you a mystery to yourself?"

365QOD- Day1165

Mr. Know It All

"I know."- two very dangerous words

Principle#5: Vow to be constantly learning and curious.

As adults we believe that we are pretty knowledge.   But there is a fine line between knowing and  thinking you know it all.  What is that line?

Well, when listening to others, do you find yourself wanting to fill in their story?  Do you find yourself wanting to offer advice before you have heard all of the complexities of the issue?  Or do you believe  you are an expert on all of the topics relating to your work?

These are very dangerous beliefs.  If you believe that you know it all then you have no reason to ask  yourself what you do not know.  In my world this is a fear of learning.

This principle urges us to be constantly learning and to remaining curious. These two require us to  stay open to the idea that we can learn something new that we do not already know.  There is so  much to learn even after you believe you have reached a level of expertise.

In my belief the path to mastery has many steps.  At each level we get better at solving that level of  problems.  However, the transition from one level to another takes longer and longer for each advancement.  So to believe you know it all you are claiming to be a master.  This is dangerous.  You should be open to learning new things and determine ways to test that knowledge.

I used to tell newly minted black belts that the day they received their first black belt was the start of  learning NOT the end of learning.  Many people heard that and ignored it.  They believed that there  was nothing left to learn and left he path.  The ones that did not quickly realized that there is a  second degree black belt, third degree, etc.

Today's question is:

"How do you remind yourself that there is more to learn?"

365QOD- Day1164

Don't Show Compassion

"Compassion is for softies."- a foolish belief

Principle#4: Show compassion

As leaders we have to understand taht people are people first and employees second.  If you are a  driven manager who only understands financial targets you will never see a step change in  performance from your team.  You will meet your targets but never exceed them greatly.

In order for people to do their best work they have to have a connection to you not only as the  manager but as a leader.  They have to be willing followers.  They are human beings not just robots  of execution.

If you show no compassion for them, their outside issues, and internal problems they will never  connect to you.  The compassion connection is critical for a team to feel like a true team.  The  connection between managers and employees provides the meaning to the work that they are doing. So a leader without compassion is in danger of losing grounds due to lack of connection to their  followers.

Caution: compassion can not be faked.  If you are not willing to listen to people and become a part of their world, you will be their manager but not their leader.

Today's question is:

"How do we genuinely show compassion to others?

 

365QOD- Day1163

Destroy Error Makers

"One who does not makes mistakes, lies a lot."- Anonymous

Principle#3: When people err, don't destroy them.

A couple of years ago I had an employee make a large costly error.  The employee designed a system and went through the acceptance by the customer without anyone catching the mistake.  During the execution the mistake was caught and corrected.

The costly error was due to the fact that he had physical limitations and could not verify a design in the field.  Once the mistake was discovered I spent some time trying to understand why the employee made the mistake.  He had followed all of the standards properly and calculated what should have worked properly.  

Unfortunately, the customer had done field modifications in order to improve performance of the system.  These changes were not caught on prints that he used to formulate his design.  Without going in the field he never knew that the customer made these changes.

When given the option to fire the employee I turned it down.  I advised him that he needed to use his team members to overcome his limitations.  He agreed and said that he had learned a big lesson. 

I also knew that I had spent a ton of money educating him, why would I fire him now.  Someone else would benefit from his big mistake.

Today's question is:

"Do you destroy people when they make a mistake?"

365QOD- Day1162

Micromanagement is Cool

"A good part of leadership is stepping back," - Bill Pasmore, senior vice president at the  Center for Creative Leadership

Principle#2: Don't micromanage. 

A leader who micromanages is trying to control the outcome.  This foolish belief is due to the leader  believing that they know better than their subordinates because they are the boss.  A micromanager  believes that they must have gotten promoted to that level by knowing best.-

A true leader will make sure that their people have the proper training, understand the mission, and   then move out the way.  As leaders we pay people to know how to do their jobs, so move to the side and allow your people to walk along with you.  You will be amazed at how much you can learn from  team members.   

You must realize that leading from the side creates leaders.  Leading from the front creates followers.  Leading from the back is simply lack of leadership.

As a leader you want your people to be influenced by you NOT controlled by you.  Influence is much much more powerful.  Control is an illusion.  Once you have the team's trust and they are influenced  by you then any level of change is possible.  Without that trust, people will follow you because you  are the boss that they want to outlast.

Today's question is:

"How do we stop micromanaging?"

365QOD- Day1161

Killing Disagreements

"If all you hear is how great you're doing, that should be a danger sign," - executive coach Ray Williams.

In an article titled 9 Ways to Become a Better Leader in Entrepreneur magazine Rob Reuteman gives 9 suggestions.  In next nine posts I will like to take apart these principles.

Principle#1: Encourage employees to disagree with you. 

Many leaders have a problem with this principle.  They want followers that just simply follow and do not think.  Having worked for a leader like this, I believe that this is why departments and companies do get in trouble.  

In situations when the leader kills disagreement the employees become afraid to speak the truth.  The leader by nature becomes more powerful.  However, this is not true power.  As any dictator knows, this type of power lasts and eventually the leader pays a heavy price.

So how do we encourage employees to disagree with us as leaders?  The only answer is by making them feel safe to do so.  If we are going to be petty and hold that disagreement against the employee then all we will hear is a yes. 

Speaking the truth as you see it should be rewarded because the group gets to argue the issue and come up with the best solution.  No one is smarter than a group of employees.  Leaders fail when they believe that they know better than the people working for them.  The reason for this is that as leader you have more of a wider vision of the field.  The employees know the terrain.  Only together can groups win a battle.  

Today's question is:

"How do we encourage disagreements more?"