Newsletter
Subscribe to our monthly newsletter to unlock your CEO Mindset

Key Notes

When you subscribe to Key Notesreceive a special report "3 Secrets to Using the CEO Mindset For Business Success"

*I hate spam too! Your information will never be given, sold, or rented to anyone else. EVER!

Social Icons
The 3 Keys Coaching Process

Use Ability, Success, Growth to unlock you as CEO of your small business

Click to learn more

What do I do?

Learn more about coaching services and expanding in the US .
What People Are Saying
“I recently had the privilege of attending one of Ellen Godfrey's sessions. It was truly a wonderful experience. She is dynamic, energetic, and an excellent communicator. Her ability to combine both visual and verbal methods to reinforce her points is excellent. She presents challenges in a non-threatening but thought-provoking style. I would gladly recommend attending one of her sessions.”
- James Griffen President, HelpKey Management Consultants

What Stories Do You Tell Yourself While Growing Your Business?

Two recent conversations with clients illuminated how incredibly powerful belief can be. Business owners and executives  with growing companies are faced with a myriad of details to review, problems to manage and decisions to make. And while it is easier to anticipate how much capital you might need or staffing changes, it often comes a surprise when uncomfortable emotions are triggered during the process.

fear, belief, CEO MindsetGrowth is change and change triggers emotional responses in all of us

It isn’t the passion or eagerness for the new direction that are at issue. It isn’t even that you are doing something wrong. It is the uncharted waters of growing your business that triggers the emotional response. Yes, other companies have grown successfully and you are putting the right pieces in order. The uncomfortable emotions may be

  • Doubt -Is this the best way to grow? Am I the right one to lead?
  • Confusion – Why are my partners expressing negativity? Why is my staff reluctant to adopt our new policies?
  • Apprehension – What’s going to happen next? Will we find the right customers?

This is not some sort of emotional collapse and you are a basket case. It is simply the process of adapting to a new way of doing business.

But let’s focus on you, the leader

Doubt and fear aren’t bad things or even to be avoided. They are simply emotional responses to the ambiguity present in the growth plan your business is following. You don’t know what the outcome will be. The deciding factor is what beliefs emerge with the emotions. For insecure leaders, it is common to start questioning your abilities (do I have what it takes? Can I inspire and lead my team?) or have old stories come up about how you are lacking in some way. Secure leaders (those who use the CEO Mindset) have learned their stories and exhibit more self-trust, tolerance of ambiguity and adept access to their emotional intelligence.

Key thing to remember

Doubt and fear are simply emotions and not reality. Take a moment to consider what you fear? Then ask yourself, “

  1. Why do I fear this?
  2. What am I expecting?
  3. Why am I expecting that outcome?

And keep asking yourself these three questions until you have the story clear in your head.

The story of fear and belief

It is not a question of fearlessness. (That might be a story you need to throw out because it creates an impossibility for many of us.) We cope with our experiences from childhood through adulthood by telling ourselves stories about who we are, how we ought to act and who we could be. In the intersection of fear and belief is the choice to tell the same story or change it in some way. I have had more than one client get an “a-ha” moment when they realized that their alcoholic parent or playground bully doesn’t get the last word on their ability to grow their business. Another client found he couldn’t create the culture he imagined when his company experienced a major financial crisis. Still another client had to leave a toxic business partnership to realize her potential. These moments were all based on old stories that had to be retold for my clients to embrace the CEO Mindset.

Go ahead

Feel the fear and the doubt. Ask yourself what is fueling these emotions. Then determine the truth or reality of your concerns. Are you fearing financial ruin? Well, if there isn’t enough capital, then that is real. If you fear that you are not up to leading your company as it grows, check to see if there is a skills gap or a confidence gap. Learn what you need to know and then practice. As someone once told  me, “With practice comes mastery…With mastery, comes the ability to do more.”

Fear can lead you to believe a lot of things. Clarify your stories and let go of what isn’t serving you well while you grow your business.

 *iStockphoto by Anson Lu

Share

Why Transparency Supports Healthy Organizational Culture

transparency, organizational culture, small to mid-sized business, business owner, CEOSome of you may know that I host the Twitter chat, #KaizenBiz every Friday (you can read about our more recent conversations here) and often there are interesting lessons or insights that come from the live chat. As someone who coaches business owners and executives to become better leaders, a healthy organizational culture is often a topic or very near the surface.

But what is organizational culture?

For the small to mid-sized companies I work with, culture is often the expression of the business leader. Since small to mid-sized companies are more compact and connected than larger corporations,  it is easier for the business owner/ CEO to express to everyone how he/she wants things to be and, in growth organizations, to become. That means values and behaviours are obvious and the meanings and purposes of these values and behaviours is idiosyncratic to that company. As an example, one of my clients makes it a point to be available for face to face conversations, ask questions  and share a lunch with everyone once a month. Another client in a bigger organization believes in hiring smart people  and he lets them know his expectations and then gets out of the way for the day-to-day execution of these expectations. He is doing what he is good at and, consequently, so are his employees.

Transparency and culture

You may have heard a lot of discussion about transparency in various places. According to the Business Dictionary, transparency is

“Lack of hidden agendas and conditions, accompanied by the availability of full information required for collaboration, cooperation and collective decision-making. [Also as definition] Minimum degree of disclosure to which agreements, dealings, practices, and transactions are open to all for verificaton.”

One would think that smaller organizations would have less machinations and hidden agendas than their larger counterparts but politics are everywhere.

What could possibly go wrong?

Most small companies operate in a clear and legal manner. But there can be some pitfalls or unforeseen consequences when corporate culture stems from the leader as alleged actions by New Jersey Governor Chris Christie and his administration are being reported. Now the temptation is to say that politicians are corrupt anyway but I remember working for a doctor who would lose his temper in such a dramatic fashion and belittle others that people were literally afraid to speak up in meetings. Consequently, this small organization had high turnover, backbiting amongst colleagues and absolutely no faith that your immediate boss would ever back you if you needed it.

But there are other things to consider:

  • Lack of common definition of privacy and discretion: (thank you to Lois Martin for highlighting this) With multiple generations in the workplace, privacy and discretion have morphed over time and it is up to the leader(s) to clearly state what clients and the public can know about the company. This can be also seen as professionalism.
  • We live and work online: There are risks and responsibilities as this McKinsey report discusses. Cybersecurity is an issue for all businesses, regardless of size.
  • People may bring a negative perspective from their previous employer: As you grow, you hire new people and they bring all of their experiences, good and bad, with them. Their stories may color how they share information, show intiative or handle disappointment in your organization.
  • Euphemisms: Transparency depends on people saying what they mean. If you are “demising” jobs, let people know to expect their job may be eliminated.
  • Consistent ethical code: Transparency is really an encapsulation of certain values — respect, integrity, honesty — and if you are cutting corners, your employees will cut corners and this, ultimately,  affects attracting and retaining your customers

When you stop to think about it, it brings up all sorts of questions about organizational culture, individual behaviour choices and the validity of an ethical professional code.

What could go right?

Of course, there is always another side. Part of the most recent discussion about transparency are the advantages it gives to businesses. Small to mid-sized businesses may have been onto this for some time. Quite often you know your customers by name and understand how important that “know, trust and like” factor can be.

  •  Differentiation is clear: While you have much in common with your competitors regarding customer service or even type of product or service you offer, your words and actions, source of materials, vendors and clear wording on policies (without the super fine print) and procedures invites trust.
  • Happier employees: If you have ever worked for a boss who was tough and fair, you worked for a leader who was transparent in his/her expectations.  A 2013 TINYpulse employee satisfaction survey reported that transparent managers had a “correlation coefficient 0.94 with employee happiness.” Good management fosters better morale and productivity.
  • More accurate information about what customers like/dislike: Open, two-way communication with your customers enables better data gathering on what your customers buy from you and what sorts of improvements are most desired.
  • Clear internal communications: When the business owner/CEO takes the time to listen and interact, it becomes clear that the whole organization is supposed to listen and interact.
  • Supports accountability: When the decision-making process engages both the leaders and those assigned to executing the business goals, it is easier to know why a goal was chosen, who will do the work and when it is scheduled to be completed.

Transparency helps you develop a healthier organizational culture

It does take some work and maybe even retraining on your part to become more transparent. On the  other hand, having the ability to know who works for and with you simply provides an excellent foundation for transparency. On that you can build out how the values of honesty, respect, integrity and professionalism will be expressed in your culture.

What reasons do  you believe that transparency is important in a small to mid-sized business?

When could transparency harm your small to mid-sized business?

How much transparency is needed to develop a healthy organizational culture?

 

Share

Leadership, Mindfulness and Practical Enlightment

leadership, mindfulness, meditation, CEO MindsetThis post is from this month’s newsletter and since this topic has been cropping up in my writing, in the Twitter chat,  KaizenBiz and in my newsletter, I thought I would share it with you as well. In a conversation over the last few days on Twitter, it seems that many people are wondering just how to deepen themselves as leaders as well as cope with the stress of leading a business in a quick change environment. What if we took Peter Bregman’s suggestion in this HBR Blog Network post and treated laughter as a business metric? Is there an ROI for meditating or simply being in the moment?

Where is the stillness?

For many of us, it is the start of winter and it’s easy to become more like a hibernating bear with the longer hours of darkness. Perhaps that’s why I get a kick out of the Christmas lights and public holiday displays. These shiny, twinkly and even gaudy lights are moments of child-like fun. Standing in the morning or evening darkness in the still, quiet (yes, even in a city) air is an invitation to look around and up. Perhaps you notice the stars or the stark branches against a dark sky? This moment of stillness is mindfulness. There is nothing else but this moment…and you are here.

More than just the latest leadership craze 

Meditation and mindfulness are very popular right now in leadership circles.You may have heard of people like Bill Clinton, Bill Ford, Rupert Murdoch or Marc Benioff are active meditators. Nelson Mandela who recently died has talked about how meditating changed and supported how he was able to lead South Africa as it started its transition away from apartheid. And there is good reason for this. While it is easy to dismiss it as some woo-hoo or fluffy stuff, there is ample research pointing out how even 15 minutes can ease chronic pain, stress and inflammation. For leaders, there are additional benefits increased focus, creativity, composure, memory and agility of response) that you would use multiple times during a typical day.

Doesn’t have to be transcendental either

There are many reasons why people do not develop the habit of meditation. For some, it is difficult to sit still or maybe a particular style isn’t quite “right.” If you can breathe, you can meditate. It is that simple. Try an experiment, breathe slowly and deeply in through your nose and out through your mouth for 5 minutes  What do you notice about your body? Your mood? Many people report feeling quieter and energized at the same time. And that’s just 5 minutes. Others find that eating something and really paying attention to the color(s), smell, appearance and feel of the food provides a similar response. I’ve even had clients describe walking or running as the way they quiet their minds and return to the office ready for whatever is on their desk.

Enlightenment can be practical

Leadership is largely an art and based on our mindsets. There are plenty of posts telling us how to identify a bad boss and none of us want to be that person. If you’ve read my other writings about the CEO MIndset, you know that there is an emotional life to running your business. Try an experiment…every day for 1 week, simply breathe deeply in and out for 5 minutes while sitting comfortably with your feet on the floor. Put a timer on, if it helps. Notice how you feel immediately afterwards and then also notice how you feel later in the day. If, after a week, you notice a positive difference, maybe it’s time to make it a regular part of your day.

While leadership fads come and go, meditation and mindfulness are practices that stand the test of time.  It might even enhance your executive presence and inspire your staff. At the very least, it will support you as you develop the CEO Mindset and grow your business.

If this is an area of interest and  you would like to see a webinar, in-person event or an individual consultation regarding meditation, mindfulness and the CEO Mindset, please let me know. Plus, if this post piqued your curiosity (there are other goodies as well) and you would like to subscribe to the Key Notes newsletter, please fill in the form on the upper left of this page.

I wish everyone a lovely and relaxing holiday season and may you have the best year yet in 2014!
Share

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?

Share

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.

 

 

 

Share

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 the US)  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

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 at which you speak and when you speak send a strong message to 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 give contradictory signals so people aren’t sure what is acceptable
  • Charisma is over-rated-  Be yourself and give a complete message. Motivational speeches do have their place but substance is what your team is looking for.
  • 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 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- 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 develop their skills and are comfortable in their own skin, communication tends to go more smoothly. Sure, there are days when everyone makes mistakes but good communication builds good will. Are you like the driver in the story and giving mixed signals to you team? Using the CEO Mindset encourages you to monitor your communication style and self-awareness to foster stronger communication with your team.

 

Share

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.

 

Share

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.

Share

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.

 

Share

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.

Share