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Giving Thanks Is a Hidden Leadership Tool

Thanks, gratitude, emotional intelligence, leadershipWith all of the recent interest in emotional intelligence and leadership, it is easy to wonder just what the fuss is about. When you break down mindfulness, you discover that it is simply focusing your attention to where you are and what you are doing at this moment. Break it down even further and couple that with this week’s  US holiday of Thanksgiving and you discover that one of the elements of emotional intelligence, gratitude,  can deepen your ability to lead more effectively.

Gratitude is a “chosen attitude”

With the human tendency to pay more attention to the negative, it can be hard to see positives. However, recent research has made some interesting discoveries about gratitude.

  • Better ability to ride out negative events
  • Energizing
  • Able to help others or access compassion more easily
  • Exemplifies emotional maturity
  • Helps access mindfulness more easily
  • Promotes physical health

And this is just the tip of the iceberg. According to Richard Emmons, researcher and author of Thanks! How the New Science of Gratitude Can Make You Happier, gratitude is both a cognitive and emotional process. Indeed, gratitude doesn’t work unless both are activated. Gratitude gets its power to influence our behavior when we choose to use it.

The intersection with leadership

Recent leadership research keeps coming back to the best leaders being the most emotionally intelligent. Gratitude reinforces the most basic pieces of emotional intelligence by combining both internal awareness of your emotional life with the external awareness of how we interact and experience other people. Appreciation of what is in your life is a way of opening yourself is certainly an aspect of the CEO Mindset. But there is a transformational piece that is a direct link to your leadership.

  • Saying thank you to particular people for their performance encourages loyalty and good will
  • The  positive attitude demonstrates resilience and the ability to tolerate positive and negative events competently
  • Helps remove the “white noise” of our lives and work so you can think clearly about how you want to lead and where you want your organization to go
  • Keeps you open to listening to positive and negative feedback so you continually learn how to lead better

 What will you give thanks for?

See for yourself how gratitude can be transforming. Keep a gratitude journal everyday by writing down three things you are grateful for. They can be anything from thanking someone for telling you how you are doing a lousy job to acknowledging the beautiful sunset you saw on your commute home. Find out how you aren’t as stressed by negative events. Make someone’s day by thanking them for his/her hard work on a specific task. Increased loyalty, positivity and productivity are pretty good outcomes if you are willing to cultivate gratitude into your daily schedule.

 How will this add to your leadership?

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Boost Your Strategic Planning With Game Theory

Strategic planning, game theory,This post started when I read the Forbes post how aspiring CEOs can prepare for the top job. Joel Trammel recommended that budding leaders learn about game theory. Since the number one job of CEOs (and managing directors) is to make decisions, familiarity with game theory can be a useful tool in strategic planning.

Very basic definition of game theory

While some of game theory makes for dry reading, it is intriguing in its business applications. According to the Stanford Encyclopedia of Philosophy, game theory is “the study of the ways in which strategic interactions among economic agents produce outcomes with respect to the preferences (or utilities) of those agents, where the outcomes in question might have been intended by none of the agents.” In essence, it is the idea that people and organizations take into consideration benefits and risks to make decisions on what they perceive to be in their best interest. It is important to remember that there is an assumption of rational thought behind the process and decisions within situations of competition, conflict, cooperation and interdependence. Game theory is often associated with decision theory.

Game theory and strategic planning

It’s important to not get too hung up on the word, game, when looking at this theory. As you know, much of what you do as leaders of your organizations is handle uncertainty. With strategic planning, it is a guessing game to some extent. You have a vision of where you want to bring your company over the coming year and you have some information about the market you operate in. One of the key things to remember is that you are making decisions with your team regarding the future and these are not made in a vacuum or in isolation. Game theory encourages one to know the variables and to be cognisant that the business is operating in a dynamic environment.

How do you make game theory work for you?

To identify potential avenues for your strategic plan,  there is some information which will highlight the variables:

  • Experience. Very simply put, what did you learn this year? Mistakes, near-misses and gains are all lessons for you and your team to use.
  • Feedback from your staff. One of my clients was telling me this week that his staff has asked him to get out of the nitty gritty. They want him to take time to follow through on goals that were set already, work on his leadership skills and tell them what his next set of expectations are. In other cases, you might hear information about customers, new contacts and other opportunities.
  • PESTEL Analysis. This analysis (learn more about PESTEL) allows you to identify more specifically what is going on in the environment outside of your business. That means everything from politics, social change or industry regulations become more clear in its relationship to your company.
  • SWOT Analysis. This is a smaller picture than the PESTEL analysis but still provides information about what is currently going on in your business.
  • Identify the assumptions underlying all of the opinions put forth. We’re all susceptible to making assumptions. There is a tactic called the 5 Why’s. Simply asking “why” can  illuminate the information gaps, biases and faulty thinking.
  • Challenging/upsetting the current system. Using the 5 Why’s is one way to challenge the system. Keeping yourself and your staff fresh is simply done by asking open-ended questions with an attitude of curiosity. Doing things differently might not mean you’re introducing a new product or service, it might be how work and communication gets done internally.

By taking a look at all of these, you gain information about potential opportunities, risks, trends, outside events that influence your business and much more information. Then you can identify various scenarios and how your strategic plan can flex in response.

 Your strategic plan does more than provide the roadmap for the coming year

While you and your team do need to identify the goals, the steps and the responsible person for the coming year, there is more. Underlying each yearly strategic plan is the overall aim for the company over a period of five, ten or more years. Using game theory in the strategic planning process gives you alternative scenarios so that you are more able to anticipate the turbulence and dynamic quality of the business environment.

 

 

 

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How To Use the CEO Mindset For Smarter Communication

Small to mid-sized business owners, executives, smarter communicationWhile driving one day last week, I stopped to make a left turn. There was oncoming traffic (we drive on the right in Boston)  so I was ready to wait. One of the drivers gestured that I could take my turn. That seems considerate enough but there was a problem. He hadn’t stopped rolling. His idea was that I should take my turn while his car was still moving. As you might imagine, I hesitated. Was he really letting me go? And if I did make the turn, what were the possible consequences?

Sometimes we say one thing while we’re sending a completely different message

It was interesting to note my emotional response. I wasn’t sure which message was the true one. This happens in the workplace as well. Take one of my clients, Barry (not his real name) who had a clear vision for how his company could grow nationally. Unfortunately, he also had a habit of over-analyzing trends, opportunities and the performance of his company to such an extent that it muddied how he expressed his vision and expectations to his team. Another client, Rachel (not her real name) would assign tasks to one of her staff but then do the task herself  because “I know how to do better and quicker.” For both of these clients and for others, the bottom line was that they claimed to value the skills and input of their staff but their actions said otherwise.

What you do carries more weight than what you say

We are used to news being made by CEO’s of large corporations. Even the most minute word can result in a headline. Since small to mid-sized organizations are much more intimate, the decision-makers have greater influence on corporate culture. The words you use (including swears and pejoratives), the volume you speak at and when you speak tell your staff how to treat one another. Another potential trap is to assume that everyone looks at the world through your eyes and your sensibilities. Let’s say you spend long hours in the office because you believe that is essential to success but tell your employees that they can have flex time and vacations. Which part of your message are they going to listen to the most? I’ve even had a business owner tell me that he limits suggestions and recommendations because he doesn’t want to hear bad news.

There is a smarter way to communicate

In past blog posts, I’ve written about how the CEO Mindset supports the business owner/ executive to be more effective.  But what does this really mean? For a leader to truly use the CEO Mindset, he/she must pay attention to what is going on internally and externally as well as the other aspects of leading and managing a business. To effectively communicate, you have to use many of the same things.

The intersection between the CEO Mindset and communication uses both the internal and external awareness of the business owner/ executive:

  • Builds trust- Consistency in verbal and nonverbal message goes a long way
  • Lets people know where the boundaries are- Ineffective communication styles given contradictory signals so people aren’t sure what is acceptable
  • Charisma is over-rated- Motivational speeches do have their place but substance is what you’re team is looking for.  Be yourself and give a complete message
  • Paying attention for better listening- It is remarkable what stopping and paying attention, even for 15 seconds, can do to prevent misunderstandings and unnecessary clarifications
  • Know clearly what your message is- There is a time and place for idle chitchat. When you want people to know where the business is going next, how to solve or prevent problems or get tasks done, state clearly what you want people to hear.
  • Flexibility-  You may need to vary your words or the pacing of how you say things. Sometimes flexibility includes fully listening first before you say anything.
  • Pay attention to the emotions- Try an experiment…say “yes” in as many different ways as you can imagine. Someone can say what you want to hear but if you don’t hear what they are really feeling, the issue will come up again and again.

When business owners/ executives are comfortable in their own skin, communication tends to smoother. Sure, there are days when everyone makes mistakes but good communication builds good will. It sets the stage for apologies, corrections and clarifications. Using the CEO Mindset does foster smarter communication.

 

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The 15 Reasons Leaders Fail Their Small To Mid-Sized Businesses

Leaders, Small to Mid-Sized Businesses, LeadershipI’ve recently wrote about confidence and turnarounds which is certainly the toughest road any business leader can be on. But, to be fair, not everyone is is desperate straits with their small to mid-sized business. In talking with my clients and prospects, I’ve noticed that there are things that we do that make our work and leadership far more difficult than it has to be.

The 15 reasons (in no particular order)

  1. Keeping the business plan in our heads
  2. Too satisfied with progress of company and stop leading
  3. Not delegating enough
  4. Staying too tied into the day-to-day operations
  5. Avoiding difficult conversations
  6. Refusing to adapt to new circumstances and/or technology
  7. Procrastination
  8. Unclear vision or direction
  9. Feeling like you have to continue on a particular path, even if it is not working (sunk cost fallacy)
  10. Inconsistent communication skills
  11. Stop being curious
  12. Want to be liked more than anything else
  13. Avoiding fiscal oversight and responsibility
  14. Responding to too many crises and not stepping back to plan ahead
  15. Lack of personal and professional development

Did you see anything you might need to change?

It is safe to say that we don’t intentionally get in our own way or prevent others from doing their jobs. Sometimes we get into bad habits due to having a long career or simply not taking the time to reflect on who we are and where we are as people. So take a moment and look at the list. If you recognize something you’re doing, ask yourself if you want to stop. If you do want to stop, come up with an action to take or find someone who will help you adapt to something that works for you.

Wishing you every success!

About the author:  I’m Elli St.George Godfrey, executive coach and trainer who guides established small to mid-sized business owners and executives to be comfortable in their own skin. Change can be growing your business, expanding in the US or adapting to a new leadership roles. Visit my Services page to see how we can work together or schedule your complimentary coaching session here.

 

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CEO Mindset: Confidence When Your Business Is Struggling

CEO Mindset, confidence, business owner, business executive, turnaroundWhen I wrote the post “Confidence- An Often Overlooked Business Tool,” I received some great feedback. However, one theme that came up in conversations with Irish business owners as well as other business owners is the importance of having a realistic perspective. Business owners and executives must be truth-tellers first to themselves and then to the stakeholders.

Call it what it is…a turnaround

One of my clients is in the midst of a turnaround. His business is seriously struggling and there are a number of larger economic factors which are working against him plus some mis-steps made by himself and his staff. To his credit, he recognizes that staying focused on the here-and-now brings him one step closer to getting beyond this mess. He has moments when he feels doubt about getting through.

Turbulence and doubt

These are the roughest times for any business owner or high-level executive. It is not uncommon for a business owner to hide in his/her office and worry. Time seems to change by speeding up or slowing. You watch the business’ finances dwindle at an alarming rate and may have creditors or the bank calling to discuss how you’re going to pay them back. This is a scary and turbulent time.

Try a little tenderness

There is a surprising first step that must be taken. Apparently Otis Redding was onto something here. Treat yourself with compassion. Odds are, you didn’t try to get into this mess. In a 2012 study about self-compassion, researchers discovered that treating yourself with kindness and mercy produces four effects:

  • see the possibilities for change and making amends
  • increase the desire to make the changes
  • take steps to correct the situation or follow through on planned action
  • compare self with those doing better as if to use them as role models

Instead of berating yourself, acknowledge that there has been a failure. This allows you to treat yourself with compassion and open your mind up to find possibilities and cope with the consequences. Consistent with Carol Dweck’s work on the fixed mindset and the growth mindset, it is apparent that believing you can find a solution or learn a way to manage a problem is much more empowering. This is true even when you are faced with noxious choices.

Paradoxical thinking

This type of thinking is part of the growth mindset. Paradoxical thinking is the ability to hold contradictory concepts at the same time. You can tell yourself the truth that things are dire. However, for this to be truly paradoxical, the business owner (or executive) must also hold the concept that there may be a way out. Bear in mind that this is not arrogance or willful blindness. Confidence requires self-belief, humility and open mindedness if it is to be any use to you.

Taking action supports the feeling of “I can” and fosters confidence

Finding confidence when your business is struggling takes compassion, paradoxical thinking and an growth mindset. This is not necessarily an easy process but it is a necessary one.  Anyone leading a business is used to taking action and producing results.

To rebuild your confidence, start with basic questions:

  • What does the business do well?
  • What does the business owner/ executive do well?
  • What resources are available?

Taking the answers to these questions and developing a plan of action means

  • re-establishing yourself as the leader of your organization
  • communicating clearly to and with your staff
  • identifying what needs to be addressed first
  • re-connecting with customers
  • following up with leads and prospects
  • providing an optimistic, strong and thoughtful perspective

Possibly the greatest test of your career

Looking back isn’t productive. Regret eats away at your confidence. You are in this situation now and it needs to be rectified. There aren’t even guarantees that you will lead the company to an ideal result.

Even so, do:

  • Treat yourself with compassion
  • Acknowledge that this is a terrible situation and there is a solution or a way to manage the turbulence
  • Identify what is still working, your leadership skills and available resources
  • Develop a written plan and take action

Finding your confidence while your business struggles is a challenge. There are plenty of reminders of problems. But for your company to exit the situation with any degree of grace, you have to believe you can find a way out and get things moving in the right direction again.

Confidence enables finding the possible.

About the author:  I’m Elli St.George Godfrey, executive coach and trainer who guides established small to mid-sized business owners and executives in the US, Ireland and Northern Ireland to be comfortable in their own skin. Change can be growing your business, expanding in the US or adapting to a new leadership roles. Visit my Services page to see how we can work together or schedule your complimentary coaching session here.

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More On CEO Mindset – The “Right” Habits & Less Ego-Driven Leadership

CEO Mindset, leadership, habits, leaders, Tweak Your Biz, KaizenBizAs some of the regular readers of this blog know, I blog on Tweak Your Biz and KaizenBiz as well. If you have missed my latest posts there, here they are:

Becoming CEO Of Your Small Business Means Finding “Right” Habits

For many successful small to mid-sized business owners, having the CEO Mindset is everything. While I’ve talked about how small business owners (even sole proprietors/ sole traders) are really CEO’s of their companies on Tweak  Your Biz and here, this is just the beginning.

Every day there are things we do or don’t do that influence the direction and pace of business growth. A lot of this is much more internal than it might seem at first glance. One area that is written about quite  a lot is the habits or common behaviors of  famous business leaders.  Reading these posts leads you to believe that if you just did these things, you would be successful. My post isn’t one of those posts. Often what is left out is the work and the business leaders did to find the “right” habits that work for them. So, before you think “if only I did X”, remember they had to do the work of finding what works for them. Becoming CEO of your small business means finding your “right” habits.

 

Is It Feminine Leadership We Crave Or Less Ego-Driven Leadership?

Once a week, I have the pleasure of leading a chat on Twitter called #KaizenBiz. (Shameless plug here: Every Friday at 5pm GMT/12pm ET/9amPT and all are welcome) If you are not familiar with this chat, we take business topics and apply critical thinking, enhance our skills and deepen our self-understanding. This past Friday (August 16, 2013), we looked at The Athena Doctrine: How Women (and the Men Who Think Like Them Will Rule the Future and the ongoing global conversation about gender, traits and leadership.  There is a perspective that the lack of women in executive roles contributed to the organizational failures that triggered the global recession.

Is there a female style of leadership? A male style?  Are people wrong in their rejection of so many men in decision-making roles as found in recent surveys? Could it be more likely that highly effective leaders of both genders exhibit the same traits? Read this post and add your thoughts.

 

Thank you

Thank you for taking a look at these posts, commenting, sharing or simply thinking about them. I look forward to sharing more posts next month.

 

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8 Tips For Expanding in US for Irish Small Businesses

Irish small business owners, expanding in the US, exportI was just reading the other day in The Irish Independent that the Irish Export Association changed its forecast from positive to negative. They attributed the contraction to weaker demand in EU and US markets as well as other international markets. It may not sound like the best time to consider doing business in the US but it does give you time to prepare. You already know that preparation is a key piece for growing in your current market. As one of my Irish clients discovered, there are a lot of details when entering the US market. Here are eight tips to make your process smoother.

8 tips for expanding in the US

1. Know “why” – Your reason for expanding in the US is the cornerstone for the effort you will put into this venture. Identify your strategic intent and business goals for why this is a good move for your business. Be sure that you are operating from a sound business reason and not from the extremes of naivete or cynicism.

2. SWOT and/or PESTEL analysis- The US is a big country and, despite some consistent cultural qualities, there are a number of sub-cultures due to geography, ethnicity, race, politics and economic class. Conduct a SWOT analysis to clarify what is going on within your business and a PESTEL (also known as a PEST, PESTLE) analysis to clarify what is going on outside of your business. There may be regulations, demographic trends or other information that you need to know.

3. Do your marketing homework- Americans don’t think or experience emotions like Irish people. As an example, the ads that run on RTE or UTV use different emotional touchpoints than the ones on American television. Even language (even though we all speak English) is used differently. This applies whether you’re selling food, software or medical devices.

4. Hiring/outsourcing- If you decide to hire someone or outsource,  first learn about benefits and legal responsibilities. It may be useful to speak to someone who specializes in human resources to make sure your company doesn’t violate any regulations or laws.

5. Legal entity- It is often necessary to establish a US-based business entity when expanding in the US as it may be more cost-effective, increases options for funding, reduces how much you travel and other considerations. For example, a foreign small business who establishes a legal US-based business entity is eligible for assistance from the US Small Business Administration (the SBA).

6. Work with someone who can help you with the details- The are a number of brokers and organizations that can help you expand in the US. However, many of them require a fee upfront before they help you. Another (and less expensive) option is to work with a non-profit group like The Business Coalition who can provide advisors and/or a liaison for immigration/visas, business law, rental space (offices, manufacturing, living), transportation,  mobile phone companies, explain cultural differences and other business needs during your growth phase.

7. Develop and write a plan that outlines funding, personnel, risks and goals- There are a lot of details to keep straight between the business goals, who is responsible, legal requirements, regulations, schedules and so much more. A written, living document allows you to see progress, benchmarks, accountability and potential problems so you  can respond appropriately.

8. Your role and identity will change- Becoming the owner and/or executive in an international business is a transition for everyone. As you interact with new people who may be from a different country or economic class, it is not unusual to feel as if you are in over your head or are somehow a fraud. Just traveling back and forth will open up experiences that are good and bad. This is where the CEO Mindset will serve you so you can manage your stress, exhibit confidence and adapt to your new status.

Smoother process, less stress

While these tips may not the workload any less, they do provide you with an outline. There will be easy victories and perplexing problems. But it is an exciting venture well worth preparing for so someday you can say, “yes, we serve customers in Ireland and the US.”

*Update as of 8/15/2013- Sometimes things change on both a micro and macro level. This is more the macro level.  The Irish Times reported today that Ireland and the Eurozone emerged from recession during the spring months of 2013. Irish exports played a major role in growing the economy.

image: iStockphoto Andrew Johnson

About the author:  I’m Elli St.George Godfrey, a small business coach and executive coach who guides established small business owners and executives in Ireland, Northern Ireland and the US to use the CEO Mindset and be comfortable in their own skin. I have a deep appreciation for learning and understanding my client’s business style and culture. Whether you are re-focusing your small business or expanding in your own backyard or into another country, my 3 keys coaching process helps clients move from being excited about growing to having the tools to make it actually happen. Curious? Schedule your complimentary consultation here.

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Confidence – An Often Overlooked Business Tool

small business owner, Irish business owner, confidence, busines tool

This blog has been a little quiet as I’m after being in Ireland for a business/family visit. While I was there,  I watched the new television programme, Taking Care of Business on RTÉ. Like Fergal Quinn’s show, Retail Therapy, a struggling business and its owner are the focus for each episode. While there is much conversation about business plans, debts and the relationship with banks, the most striking thing that is talked about is the low confidence level each business owner exhibits at the beginning of the episode.

Ireland is a tough place for small business owners right now

I had quite a number of conversations with various small business owners while in Ireland who described their frustrations and worries. There are many questions about the rising tax levels, continuing austerity budgets, the obstacles business owners face accessing credit, the high debt levels and the actions taken by the Irish government.

Confidence has taken a hit

Confidence is a remarkable thing. It is not the belief that you can do no wrong nor that everything is going to be the way it was.  It is the belief that “I can handle this somehow”, even under pressure. However, when you are faced with what seems like never-ending obstacles, confidence can be undermined so even normally confident people get to a low moment. As I’ve written before,  it’s not unusual to question your values, choices and actions during a major crisis of confidence. It is also overlooked as a business tool during times of crisis because it seems so tenuous and airy-fairy. Yet, it is the underpinning for what makes a small business owner effective.

To be confident, you need focus

Daniel Goleman, who studies emotional intelligence has discovered that focus is an important ingredient in confidence. In an interview with Dr. George Kohlreiser, he quoted Kohlreiser as saying:

“How you manage your own emotions is determined by how you focus. The mind’s eye is like a flashlight. This flashlight can always search for something positive or something negative. The secret is being able to control that flashlight – to look for the opportunity and the positive. When you do that, you’re playing to win. You’re able to focus on the right things and maintain that positive self.”

Getting that groove back

Someone once wrote that “It’s not a hill, it’s a mountain when you start out the climb” in reference to changing one’s heart and mind. There is a tension between old expectations and current reality. However, building up confidence brings the small business owner back to what makes him/her tick. This is the focus.

For some business owners, they need to be meeting prospective customers. This is where they get get their groove back. For others, they need to be doing something else to get their groove back…meeting with current customers, revising the business plan or accessing help from an outside resource. For my coaching clients with struggling businesses, the return to basics (reviewing the business plan and current goals, looking at up-to-date financial reports and completing a SWOT analysis) plus acknowledging the emotional aspects gets their feet back on the ground and their minds looking forward.

Confidence…that overlooked business tool

For Irish small business owners, indeed small business owners in many places, it is an uphill climb. The slow pace can feel grueling and the wins seem so small. It is so easy to think so-and-so has it easy because of their location or specialty but you don’t really know what their story is. And it’s tempting to ignore that you have certain skills, have faced adversity before or that there are other small business owners like yourself.  People gauge how well your business is doing by your posture and how you speak (Amy Cuddy has a fascinating TED talk about body language and confidence). Your prospects get excited if you are enthusiastic. Your staff and/or outside resources will feel more secure that you are projecting solidity. And most importantly, you will discover you can weather what comes your way. Confidence isn’t about the bad stuff going away. Confidence supports finding a way to face forward and seek solutions.

**After 2 active conversations on LinkedIn started due to this post, I wrote a companion post, “CEO Mindset: Confidence When Your Business Is Struggling“,  to flesh out more about what makes confidence such an important business tool.

 

About the author:  I’m Elli St.George Godfrey, a small business coach and executive coach who guides established small business owners in Ireland, Northern Ireland and the US to use the CEO Mindset and be comfortable in their own skin. I have a deep appreciation for learning and understanding my client’s business style and culture. Whether you are re-focusing your small business or expanding in your own backyard or into another country, my 3 keys coaching process helps clients move from being excited about growing to having the tools to make it actually happen. Curious? Schedule your complimentary coaching session here.

 

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Using the CEO Mindset During the Mid-Year Business Plan Review

CEO mindset, business plan, small business ownerWhen you reach the middle of the year, is it a time for celebration or redoubling of efforts…or both?As leader of your organization, it is your place to seek out and tell the truth about what is working and not working. This can be a tough role but necessary.

Assumptions get in the way of good business practices

Your willingness to see things as they are and  not what you wish them to be shows up in testing assumptions. As an example, one of my Irish clients is really excited about launching his product in the US. However, he had a number of assumptions that just did not hold water hen he looked at them more closely. For starters, he assumed he knew how American consumers thought about Irish products. He also did not realize the costs involved as well as the various legal (immigration law, small business law, employment law, etc.) issues that needed preparation. It was in the business plan review that he was able to test his assumptions before committing large amounts of  money.

But there are other assumptions that need testing

1. While I could spend a whole blog post on the cognitive biases that could interfere with a small business owner’s performance, one can quickly prove demoralizing as well as financially dangerous. Sunk cost fallacy which is the thought process that “I’ve committed so much money to X that I have to make something of it.” Some might say that this is throwing good money after bad.

2. “There is money for all of our plans” could be another assumption if cash flow is not monitored. Taking time to go through the financials, even if you are not a money person, does matter since it indicates if you need to step up business development or maintain your current course.

3. “I’m sure it’s getting done” I’ve worked with a couple of business owners who found out the hard way that not holding their staff accountable cost them thousands of dollars. Without asking your people if they are fulfilling their assignments or having agreed-upon measurements, you are potentially telling them that you are incompetent or disorganized.

There are more assumptions you might be making about time, your role(s) or any number of things. The key is to ask questions, even to what seems obvious, so that you have a clear picture of how your business is performing.

That is the CEO Mindset

Whether you have the title or simply take on the mindset, you are CEO. This makes you the one who sets the tone for the whole organization and shows through words and actions the most desired values and behaviors. Whether you use a SWOT analysis or another tool to answer the questions, you show a curious, honest and pragmatic type of leadership. Taking this approach during the mid-year business plan review promotes problem-solving, brainstorming and acknowledgement of successes and failures. Question your assumptions and stay willing to see things as they are.

How can you access the CEO Mindset?

Here are some suggestions to start implementing the CEO Mindset for yourself:

  • Be a pragmatic visionary. Take your vision, build business goals that support it and measure your results.
  • Examine the data for trends, patterns or anomalies
  • Stop and listen so  you can become aware of your assumptions
  • Manage your attitude. Notice if you are overly optimistic, frustrated or tired can affect how your evaluate your data or interact with your staff.

What other assumptions need to be questioned by the business owner/ chief executive?

What are the best tools or resources for asking the right questions?

 About the author:  I’m Elli St.George Godfrey, a small business coach and executive coach who guides established small business owners in Ireland, Northern Ireland and the US to be comfortable in their own skin. I have a deep appreciation for learning and understanding my client’s business style and culture. Whether you are re-focusing your small business or expanding in your own backyard or into another country, my 3 keys coaching process helps clients move from being excited about growing to having the tools to make it actually happen. Curious? Schedule your complimentary coaching session here.

 

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7 Reasons Why Upgrading Your Business Networking Events Matters

Business networking, business owners and executivesI recently attended the Boston Irish Business Awards Breakfast hosted by the Boston Irish Business Association and the Boston Business Journal last week. As I listened to the inspiring stories, quite a few of the honorees mentioned people they had met who were helpful to them as they developed their careers and businesses. They described how they met these people through common organizations or through other introductions. It was clear that networking had made a difference!

Networking is key part of building your small to mid-sized business

There is a reason why we go to events and spend hours standing, talking and listening to people we don’t know. But have you thought about why you choose one event over another? Here are seven reasons that occurred to me as I was listening and meeting the people sitting with me at the awards breakfast… Click here to read more »

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