leadership

The Leadership Challenge: Troubleshooting – 4 Tips

August 3, 2015 By Sam Palazzolo, Managing Director

The Point: Unavoidably, problems do sprout up in your life as a leader no matter how well you plan your day/week/month/year. Is it a moment of preplanning that is lacking? Perhaps there is an opportunity to develop better contingency plans? Should you belabor the troubled moment? Or, exactly how should you rebound effectively from such problem times? In this post, we’ll take a look at how you as a leader can better troubleshoot to maximize your leadership potential… Enjoy!

Time, Time, Time… See What’s Become of Me

Simon & Garfunkel (and the Bangles) sang the verse of oh so many leaders in the classic tune “Hazy Shade of Winter” bringing up the point that there is never quite enough time to solve each/every problem faced without running into some form of adversity along the way. Think about it, is there really ever enough time to solve everything (and if you’re trying to solve all of them by yourself, this in and of itself is a recipe for disaster!) The problems will stack up faster than you can process them. Sooner or later, you’ll consider taking shortcuts (never a good leadership moment, right?)

What if in leadership development you could troubleshoot your problems away? Think of it this way… If you fail to solve the “core” of each problem faced, inevitably the problem will resurface again in the future (Think of this as blowing away the smoke, but never extinguishing the fire). You typically will find yourself facing the same problems in a never-ending continuous loop of predictable insanity.

Troubleshooting as a Leader

Solving problems is one of the essence of leadership. More importantly than always being able to solve problems, is that ability to problem solve. Getting out in front of problems and proactively problem solve is crucial, but this will take tremendous leadership strength especially when stepping out in front of problems that you may not know how big they are, can be, or are traveling towards you/your organization. Resiliency in solving such problems, along with a healthy dose of persistence, will reflect to the organization your abilities to troubleshoot and resolve issues.

Whether you are leading yourself, a team, or an organization here then are the four (4) most effective ways in which I see leaders troubleshoot:

Tip #4: Effective Communication

In what might seem like the most obvious of the four tips provided as leadership development opportunities, herein lies perhaps one of the most difficult. Communicating effectively has a dose of transparency mixed with both future vision as well as the plan for how that destination will be achieved. I often see/hear leaders that have a great “talk” with their organizational stakeholders. However, in discussing the message delivered with those same stakeholders find them to be confused, paranoid, upset, angry, etc. about the message delivered. It’s not that they don’t understand, they just couldn’t comprehend what was being said!

Tip #3: Forget the Org Chart

While organization charts were important 10-20 years ago, they still seem to play a role in the ego-driven leader of today (Think of it as how many employees can report up to a central figure and you’ll identify the power within an organization – either real or imaginary). Instead of fueling the leadership development ego flames of an out of control leader, look to communicate the message across the organization as a whole. There is no need to have one department hear the message and develop a solution while in the same organization but different part of the org chart a totally different solution is being developed to the same solution. Instead, troubleshoot together for a single best solution (or a series of solutions that could be appropriate for there to be a review of, and ultimate selection for the best).

Tip #2: It’s a People-Business

I can’t tell you how many leaders seem to forget that no matter how much technology is present, how big their organization has become, or how much revenue the organization drives that it’s the people that work in the business that make the difference. As such, having the best people working in your operation can, will, and does make the difference. Cautionary Note: A few years ago I worked with a client that was “force-ranking” all of their employees and looking to “Topgrade” all of their personnel. Everyone was ranked on a scale from 1-5 on a series of key competencies deemed important to the organization, with 5’s being the best. Those that did not measure up to a 4-5 were terminated. Unfortunately, in that group of 1-3 were some of the original people that helped start the company (and previously thought of as some of the “best” until HR started the ranking procedures). Also, the 4-5’s took note and most of the talented ones departed prior to the next go-round of force-rankings. Sometimes it’s important to note: You get what you deserved when it comes to treating your people like people.

Tip #1: Strategic Thinking

Who thinks strategic in your organization? If it’s only you as the leader, you’ve got problems! Troubleshooting, contingency planning, and looking for alignment with new methodologies that go above/beyond where you are today as an organization is crucial to future success. However, above how the troubleshooting message is delivered/received in the organization, it is important to insure that the proper metrics are measured/reviewed/acted upon.

SUMMARY

In this post discussing the leadership challenge – troubleshooting we took a look at leaders and their problems, as well as four tips for overcoming troubleshooting moments. It’s important to have open communication, a plan that encompasses the entire organization regardless of org chart structure, top-notch people in your organization, and strategic thinking to troubleshoot effectively.

Sam Palazzolo

Business Valuation Services: Can You Receive More Money For Your Business?

July 31, 2015 By Sam Palazzolo, Managing Director

The Point: This “new” economy continues to ripple through the economy even after the “great” depression of a few years ago. What used to be a somewhat simple-straightforward process of selling a business is now complicated. These complications can be calmed when engaging a business valuation service. A business valuation service is responsible for conducting analysis and presenting to leadership real terms regarding the value of a business. In this post, we’ll look at business valuation services and whether or not they can assist sellers in receiving more money for their businesses… Enjoy!

It’s a Business Buyers Market

The recent downturn in the economy has left several business owners and leadership looking to exit. While this could be a painful time, one that most thought they’d be able to overcome, it doesn’t need to be an outright disaster. There are still businesses that are looking to purchase other businesses. However, what if the price at which a business is listed for sale is too low (or on the other hand listed too high)?

Hiring a business evaluation services firm can work to get the most money possible out of your entity. This money should not only represent the organization’s current value, but a value that also equitably represents the amount commensurate with the number of years it took you/your organizational family to build the business.

Business Valuation Services “True” Services

There are several reasons why leadership should look for help in determining this all too important listing/selling price point. For starters, and the answer most typically received when asked what a business valuation service does is to identify the actual value of the company. The number can be difficult to come up with, let alone the emotional value that typically gets applied by business owners. Separating emotional value from actual is a service that an independent business valuation service can produce.

Business valuation services also can act akin to a business broker in helping connect buyers and sellers. While not at the algorithmic efficiency as a dot com dating service (perceived or real), having more prospective buyers review the company can/often does present bidding wars where more than one prospective buyer looks to purchase. These connections can also help foster relationships with those that typically are not looking, as opposed to those only interested in looking for a good deal.

SUMMARY

If you’ve decided to sell your business, a business valuation service is a logical step towards the exit. Providing yourself with accurate data, removing the emotional price points you’d like to receive, and opening the sale to a wider audience can lead to sellers receiving more money for their business.

Sam Palazzolo

Business Valuation Services: Why Independent Business Valuation Services are Crucial!

July 29, 2015 By Sam Palazzolo, Managing Director

The Point: If leadership doesn’t know what a business is worth through a proper business valuation service, the value of the business at time of exit can suffer. Regardless of whether leadership is looking to sell business or acquire a business, you’ll want to insure that a proper valuation analysis is conducted. In this post, we’ll look at business valuation services and why they are crucial… Enjoy!

I’m Looking to Sell My Business… Do I Need a Business Valuation Service?

If you’re looking to sell your business, congratulations! This is a point that many a business owner would like to get to (Hopefully you’re not selling as a result of stress, capital undertow, etc.) Your goal in selling the business is to get as much for the entity as possible. Many sellers look to establish an estimated value prior to listing their business for sale. This allows the seller to list their business for sale at a price that coincides with the predominate value established in the ensuing valuation. Furthermore this business valuation can be provided to prospective buyers as a justification basis for their offer price to purchase.

Different Types of Business Valuation Services

Business Valuation Services derive their valuation from differing methods. Not only are there different valuation methodology employed, but different costs taken into consideration. Selling a business puts the seller, and buyer to a degree, in the position to explain these differences. For example, a basic calculation analysis type might omit details that could increase the value of the business, or conversely decrease the price.

The cost of a thorough business valuation service can be minimal, especially when considering selling a business. However, in comparison to the proceeds that could be either secured, or lost in the sale a business valuation service is crucial.

SUMMARY

You can, and should look to sell your business for as much as possible. Securing a business valuation service as the seller helps establish your selling price as well as acceptable bid levels regarding purchase. Requesting all potential buyer’s bids be considered serious if they in like kind provide their own is a great strategy to sell your business for the maximum amount. Simply put… Business Valuation Services are crucial!

Sam Palazzolo

The Leadership Challenge: Why Aren’t There More Women In Leadership?

May 21, 2015 By Sam Palazzolo, Managing Director

The Point: According to the Pew Research Center, there are few differences between men and women on key leadership traits such as intelligence, capacity for innovation, being compassionate, and organization. Today women represent only five percent (5%) of CEOs for Fortune 500 companies. So if that’s the case, why are the pipelines to C-Suite opportunities appearing to widen? In this post, we’ll look at four (4) critical lessons women in leadership can undertake to break-through the glass ceiling… Enjoy!

There Aren’t Opportunities Here for Women

Susie was a team leader for one of the organizations that I worked with on an executive coaching/leadership development engagement a few years back. I remember her, because sitting on the high potential selection committee allowed me to see that she was an exceptional candidate on paper, as well as in person. She was not only smart, but extremely extroverted and ready to take on any/all challenges on her desired path to the top of the organization.

So it was surprising for me to learn in a follow-up call that she was going to leave the organization that five years earlier she described as her “dream” company. What could have possibly happened? In our brief conversation I learned that while opportunities were talked of a lot, they rarely materialized in reality. In fact, Susie described the log-jam of women that were doing great things in the organization, but seemed to be bumping their heads against the proverbial glass ceiling. As such… She was moving on.

4 Critical Lessons for Women in Leadership

At the 9^th annual “Women Who Lead” conference lessons are shared regarding leadership from high profile women. Here are four (4) critical lessons presented:

Lesson #1: You Control Your Self Image

Let’s face it, we live in an image-centric world! Constant reminders can be seen on television of “that” family that really doesn’t do anything, yet we’re somehow attempting to keep up with them… It makes no sense!

While it’s an easy trap to fall into, avoid looking at others and attempting to alter who you are by the way you look. While the experts suggested that you determine what your image is, what people not only treat you like, but what they call you.

Lesson #2: We All Must Get Along

Fortunately, or unfortunately depending on how you look at it, men and women both have to get along and work together. The advantages are numerous, but let me summarize them by saying that after every leadership development program I’ve identified that the perspectives each bring to the table are in fact different. Perhaps not as different as Mars or Venus, but different perspectives will bring about different methodologies that enhance the operation.

Lesson #3: Your Mindset = Your Success

If you have the right mindset, anything is possible. If you don’t have the right mindset, hardly anything is possible! Ensuring that you conduct the proper “check-up from the neck-up” is crucial if you want to continuously drive for success.

I typically have a conversation with executive coaching clients about goals, and ensuing targets along the way towards those goals. Most leaders, female and male alike, can typically rattle off these moments. It shouldn’t surprise you then to hear that when I ask them what their mindset will need to be like in order to accomplish those same goals that most get a confused look on their face… Almost like their mindset is an afterthought, or an outcome of accomplishing goals. This couldn’t be further from the truth.

Lesson #4: Become Risk Verse

What do you value as a leader? In executive coaching sessions I typically hear that most female leaders value a healthy balance of work and life. In the work-life, they value having alignment with the organization. Alignment within an organization specifically along goal, values, and culture components.

But what if you don’t have such alignment? What if you play it safe all the time? Remember, the spoils in life rarely ever go to the losers (and argue with me all you want, business is about winning!) Furthermore, spoils even more rarely go to those that play things safe (Read that as playing within your comfort zone!)

SUMMARY

In this post we took a brief look at four (4) lessons that women can review in order to consider when pursuing leadership positions. Controlling your self image, working together with men/women, your mindset adjustment (if necessary), and accepting risk are all part of the equation. Think of these as mere “starting line” considerations, as the race to attain/sustain leadership positions can be a long one. Equipping yourself with the right foundational strategies for leadership success will ensure that you move in the right direction.

Sam Palazzolo

The Leadership Challenge: Are You Mindful?

March 19, 2015 By Sam Palazzolo, Managing Director

The Point: If you’re like most of the leaders we work with here at Tip of the Spear, you’re a flame-thrower! However, lately we’ve been on a crusade to “throw flames” with much more targeted focus. In other words, instead of destroying everything in your path, focusing more on specific targets and getting better results. But there is so much that gets in your typical leaders way; Board commitments, Competing projects, Budget meetings, etc… And don’t forget about your non-professional (i.e., personal) time! This post is dedicated to a new technique, one we’ve begun implementing with much success in our Centered Executive Coaching programs that focuses on mindfulness… Enjoy!

Mindfulness-Based Stress Reduction (MBSR)

There’s a popular obsession in leading organizations and the Bay Area with mindfulness as a secret strategy to health and happiness. “Health and happiness?” you may be asking, I thought this was a post about how I as a leader can lead better (the central theme of “The Point Blog” and the leadership challenge at hand)… Well read on!

There is a growing body of evidence that suggests that MBSR has clear benefits to those that participate. Mindfulness-Based Stress Reduction (MBSR) is an 8-week program developed by Jon Kabat-Zinn (an MIT-educated scientist).

Mindfulness Techniques (including Meditation)

At the heart of this technique is harnessing one’s ability to be present (make that fully present) in the moment (each and every moment). If that’s the goal… The vehicle to arrive at that goal would be meditation. Ask yourself this question: “How hard would it be to think of one thing, just one sole thing at a time in a moment?”

Here are some of the challenges that you probably face:

Technology requires (no, it demands) that you fracture attention into smaller and smaller bits.
We answer a call from a work-colleague while attending your daughter’s soccer game.
We pay the bills while watching TV at night.
We order dinner while stuck in traffic (hope it doesn’t get cold?)

I’m Busy, You’re Busy… So What?

This is a time when no one seems to have enough time, yet we continue to have items compete for those limited time moments (read that as your capacity… You still only get 24 hours in a day, and 7 days in a week!) Technology allows us to be in several places simultaneously (in the past 24-hours, I’ve been in Missouri, Colorado, California, and India… Not a bad day, right?) However, are we in the right places at the right time, and are we in the places where we want/should be?

At the heart of mindfulness is the ability to recognize the present, not to dwell on the past or worry about the future… Simply to “be” in the present without judgment, fear, pain, or any of the other emotions. Think of MBSR as a technique that will allow you to quiet the extremely busy mind.

So What is Mindfulness-Based Stress Reduction (MBSR) Good For?

While the body of evidence as noted above is mounting, it appears as thought MBSR is good for anyone that goes into the practice with an open mind, willing to learn. Benefits of participants seem to revolve around reductions in stress, anxiety, pain, and depression.

So where does this fit in for the today’s business leader? If distraction appears to be the illness of most leaders, perhaps MBSR can be seen as the cure. The goal of mindfulness is to focus attention fully to what you are doing. So with all this in mind, could mindfulness be the tool for dealing with the daily onslaught in the C-Suite, both emotionally and practically?

So Haven’t I Heard This All Before?

If you think you’ve heard this idea of mindfulness before, but perhaps called another name, you’re thinking along the same lines as I was! I did a lot of research regarding why leaders think the way they do, and how if you could harness the same leadership thought-patterns the average person could turn into something spectacular (Close, but no cigar!) There also is a strong religious, almost Buddhist underlying current to this whole MBSR program. Therein lies the marketing genius of Jon Kabat-Zinn.

The religious aspect of mindfulness is overcome by avoiding any talk of spirituality. Instead there is a more logical approach (think of it as common sense): If you consider your attention span a muscle, and as with any muscle it makes sense to exercise said muscle (The exercise would occur through meditation). As with any muscle that is exercise, it will develop certain muscle mass over time.

Another aspect that can be gleaned from mindfulness is what science is teaching us about the brain, and its ability to rewire itself and adapt. This study, known as neuroplasticity, suggests that there are benefits, both concrete and provable, to exercising the brain.

SUMMARY

As I mentioned earlier, we’ve begun adding a “mindfulness” approach (similar to the 8-week MBSR program) in our Centered Executive Coaching initiatives. The feedback is very positive, as leaders report greater focus, ability to concentrate as well as less wasted time, stress, and guilt. For a great read on the topic, pickup a copy of Jon Kabat-Zinn’s “Full Catastrophe Living” (catchy title, huh?) and/or visit the Institute for Mindful Leadership (http://instituteformindfulleadership.org/). If you’d like to explore Centered Executive Coaching, connect with us!

Sincerely yours,

Sam Palazzolo

PS – You may also enjoy some of the other recent posts I wrote:

Sam Palazzolo is the Managing Director at Tip of the Spear Ventures, an agile Venture Capital and Business Advisory Services firm specializing in Executive Coaching, Leadership Development, and Communication Skills Training for Leaders.

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