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Investing in your employees now for the road ahead

Making sure a business survives through the day-to-day, month-to-month, and year-to-year can be a challenge, but how do you make the move from surviving to thriving? Mick Yates writes this article to explain how investing in your employees now can create a positive effect for your business for years to come.

It is not easy keeping up with the current business market. With millennials taking over the lead, employers and business owners constantly need to search for new ways to keep their employees motivated and therefore retain them. Opportunity for millennial’s success are everywhere and if they do not feel content on their current position, they will easily move on to the next opportunity they see. Young people are highly confident in their career goals, and they have no time to spare in a place which gives them no room for growth. There is no better way to keep your staff engaged and motivated than to help them thrive and improve their skills. Here are some of the reasons why you should start investing in your employees’ growth as soon as possible:

1. It Boosts Productivity And Morale

Employees want to be recognized for their own qualities and talents. When an employee is confident about their work and knowledge they own, it directly affects their productivity (or lack of). Investing in their career and knowledge will show them that you, genuinely care about them. It helps to build a healthy and motivated working environment. Giving them space to rise and shine is going to make them more confident in their skills. But not only that they will feel confident, they actually will have a pretty good reason for it.

2. It Keeps Staff Turnover At A Lower Rate

With options lurking everywhere, the easiest thing for one Millennial with no, to little experience, is to walk away and find a position where their needs will be properly met. Younger employees are hungry for knowledge and they tend to lose interest quickly if you do not provide them with a constant chance of improving. It is your job as a leader to be interested in your staff and in their needs. Investing in their skills will not only make them feel more confident, but it will also prepare them for more serious positions in your company. That way, you do not have to start from scratch every time you need a new manager or a leader – you can offer the position to one of your existing staff members that already know the job. Believe me, they will most certainly appreciate it.

3. Fewer Mistakes

If you skimp on your employees’ training, you are most certainly going to face their failure or lack of skill. Undertrained or unskilled staff members are always the ones making most of the mistakes. Thankfully, with proper training/programme, your staff members will feel more in control over their own work and they will actually know how to do it (properly).

4. The World Needs Leaders 

Investing in training and leadership development is one of the leading ways of keeping Millennials engaged and loyal. Who would want to leave the job where opportunities for growth are endless? But even if they do, it is not that big of a deal. The world is in the need for strong, and young leaders, who can offer valuable leadership skills to the world’s job market. One of the first countries that seem to realize this, are Australia and Canada. Providing leadership development in Australia became almost mandatory in some business industries, and for some, training is at least once in a few months.

5. Reputation Matters, A Lot

A good leader who left your company for another opportunity should never be underestimated. Millennials will usually wander off to another workplace after 18-25 months of the same job (and position). Remember, wherever they go, they will take your company’s reputation with them. For every good employee you lose, you may gain triple – but only if you put your effort into engaging with your team. If they remember your workplace as a safe place for growth, they will most likely even come back after they have satisfied their need for change.

Coaching programs and leadership development training are slowly becoming almost mandatory in this chaotic business market that is spinning 24 hours per day. Keeping up with the current trends is not even a choice anymore – it has become crucial for the success of any comp

This article is written by Mick Yates, an executive leadership coach who is the founder and CXO level consultant for LeaderValues. You can find this post here.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

ABOUT GREG LEE


The 2 Rare Skills You Need to be a Great Leader

 Looking to take the next step as a leader? Lolly Daskal writes this article for her blog where she lists two  of the skills needed to take your leadership abilities to the next level!

At some time or another, most of us have experienced a boss, manager, or leader who made us feel recognized and valued. And as a result, we were able to do more than we ever thought we could.

More than anything else, that’s the sign of a true leader—someone who makes you feel, think, act beyond the limits you imagined to your own capabilities and capacity. What’s more, they make you feel you are valued and that you’re part of something bigger than yourself.

What skills do these leaders have that allow them to help others become their best? Fundamentally, there are only two. Even the first is far from common on its own, and because the second builds on the first, it’s especially rare.

But here’s the good news: rare as they are, they’re attainable. You can learn them and practice them and master them, and go on to help and empower others to exceed their self-imposed limits.

First, great leaders have a strong foundation of self-awareness. All great leaders draw strength from a well-built foundation of self-awareness. To lead from within requires a comprehensive understanding of yourself. That includes the ability to identify your own strengths and weaknesses—in terms of skills, which you can leverage by hiring people who make up for your weak spots, and also in terms of emotional triggers. Managing these triggers  requires a high level of emotional awareness, plus the knowledge of how to be adaptable and the willingness to alter your behavior to be an effective leader. You have permission to be human—that is, sometimes flawed and vulnerable—but you must never allow inner turmoil to wreak havoc upon those you lead.

True leaders understand that their attitudes toward themselves set the tone to which others respond.

Second, they have the single-mindedness to instill power within others. It’s one thing to understand yourself and to be aware of who you are. But the highest leadership quality is knowing how to empower others. A true leader is able to inspire their team, to encourage them to go beyond excellence and accomplish far more than anyone expects of them—or than they expect of themselves. A good leader may take people where they want to go, but a great leader takes them where they don’t necessarily want to go but ought to be.

A true leader doesn’t create more followers; they create more leaders.

A good leader may ask, “Is this working for me?” But a great leader will ask, “Is this working for my people?”

Great leaders can change the world, but first they must learn to lead from within. It’s only after they’ve developed that level of self-awareness that they can they lead and others to greatness.

Lead from within: Leaders become great when they are able to find their inner power and use it to inspire, strengthen and empower others.

This article is written by Lolly Daskal, an executive leadership coach who is CEO and founder of Lead From Within. You can find this post here.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

ABOUT GREG LEE


Employee Engagement 101: Creating a Culture of Commitment Versus Compliance

Working at the “Happiest place on Earth” means more than just providing a warm atmosphere for visitors. Jeff James writes this article for the Disney Institute blog about employment engagement and what it takes to create a magical place for employee and visitor alike.
The term employee engagement is often used in business today as it relates to how we employ and motivate employees. At Disney, we like to think about engaged employees (Cast Members in our terms) as a combination of those willing to “go the extra mile” as well as those who are committed to the organization.
“Going the extra mile” is not about working harder or longer—it is about discretionary behaviors that employees want to do versus have to do. When you have to do something you comply, meaning you do it because it is required as part of your job or role within a company. But, when you commit (to an organization or company), you do things because you want to do them.
Most often, when you do something you want to do, it’s because there is an emotional connection that has been created and nurtured between you and the company (or its leaders) which makes you feel like you are making a meaningful contribution to the betterment of the company. As a leader, once you are able to instill this feeling of “family” or connectedness within your team, the sky is the limit in terms of what you can accomplish.
Sometimes leaders within an organization get concerned when they hear the word “discretionary” related to their employees’ abilities to satisfy a customer. They usually think of how much money “discretionary” could cost their company. But, what they may not be considering are the longer term implications of NOT allowing their employees the ability to do the right thing in the moment.
These moments of truth, when there is either a transaction or what we like to think about as an “interaction,” can create a lasting brand deposit (or withdrawal) depending upon how a customer has been treated.
Getting your company or organization to this state, to form this type of culture within your team, can take years of steady, hard work—something we know well at Disney.
In fact, our consistent business results are driven by strategically focusing on certain business functions and opportunities in which other companies often fail the see the value and potential—and that is a key source of what differentiates us. We have learned to be intentional where others may be unintentional. 
So, this raises the question, how can YOU be more intentional in creating the type of environment where your people “go the extra mile,” not just because they have to—because they want to?

This article is written by Jeff James, Vice President and General Manager of Disney Institute. You can find this post here.

The opinions expressed here by Jeff James are their own, not those of Disneyinstitute.com.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

ABOUT GREG LEE


The Difficult Day Every Leader Has to Face

Is this the year for change? If you can prepare for a move, then setting up the ground work can reduce the stress on you and your employer. Lolly Daskal writes this article for her blog where she lists the steps you need to take to prepare for a move.

At some point every leader has to face what is for many a difficult day—the day they are no longer the leader. Maybe they’re retiring or just slowing down or moving on to something new.

The reason for the departure isn’t as important as the work that precedes it. Every leader should have a succession plan in place. (Even if you’re young and plan to stay where you are, you should still prepare for the remote possibility of a sudden illness or accident.) If you haven’t yet made a plan, here are some guidelines that can help:

Take your time. A great plan can’t be put together overnight, but the time to start is today. Start by sketching out your areas of responsibility, the reporting and governance structure of your organization, and any parties—team members, colleagues, board members—you want to have input into your planning.

Groom those with potential. Identify the people in your organization you believe have the potential to be great leaders and begin to teach, coach and prep them. When you invest in your organization’s future leadership, your influence remains long after you’ve left.

Recognize your emotions (and understand they’re normal). As in many other areas, the best leaders are those who know how to manage their emotions. They don’t allow themselves to be blindsided; they give themselves healthy outlets for voicing and expressing what they’re feeling so when the day does come, the emotions aren’t overwhelming.

Map your second purpose. I believe our lives comes in stages. For many of us, the first purpose consists doing what’s expected of us, and our work life is driven by the arc of our career. When that stage is over we can move on to our second purpose, where things slow down and we spend our time on things that align with our values. It’s time to be intentional about where you spend your time and energy.

Let go and move on. Once you’ve decided to move on, the worst thing you can do is to not let go. Trying to keep hold of the reins leaves you—and everyone around you—in limbo. Especially if you’ve spent years or decades in control, it may be among the most difficult challenges of your life—that’s why you have to prepare far in advance.

Learn your lessons. Sometimes looking back can help you move forward. Reflect on all the struggles, the lessons you’ve learned, the strengths you’ve developed, all the connection and growth and regrets of your career as leader, and you’ll attain a greater awareness of yourself and where you’re headed.

When the day comes that it’s time to change seasons, it will be a much easier and more fulfilling transition if it’s handled with care for all concerned—yourself, your organization, and the new leadership.

Lead from within: Every succession plan will be different, but the only way to know what’s next is to be prepared long before the day arrives and it becomes difficult.

This article is written by Lolly Daskal, an executive leadership coach who is CEO and founder of Lead From Within. You can find this post here.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

ABOUT GREG LEE


Knowing Good Grammar is a Social Skill

Bad grammar holds back veterans in the field and those starting out alike. Penelope Truck shows how important practicing good grammar can be when looking for a new job in the following article, written Dec 8, 2018.

My friend is staying at my apartment while he job hunts in Boston. My job hunts were always done in pajamas with a jeans-and-T-shirt interview finale. Micah is in sales and his hunt starts with a trip to a clothing store.

While he hops in and out of dressing rooms becoming friends with everyone, I settle into a spot with the mannequins.

Then I say, “Micah! Hey! Did you know the most reliable way to speed up a job hunt is to have a professional rewrite your resume?”

Micah stops and looks at me. Sales guys are always attentive, even if you annoy them.

“So, not that I don’t love living with you, but I’m rewriting your resume.”

A lot of times when I rewrite a resume it’s so much better than the original that the person has to learn to talk about themselves differently. We underestimate ourselves because we’re in the thick of things when it’s our own career. A good resume rewrite makes you feel like a different, much more successful person.

Most people take a week or two to get used to talking about themselves at a higher level. Salespeople can adjust right away, which Micah did. Then he started making little changes for each job. And ruining the resume.

“Micah! Are you a total numbskull?! You can’t have a bulleted list with one bullet! It’s not a list if there’s only one thing!”

I told him he has a huge indentation where there shouldn’t be any. He thought I was crazy. He thought no one would notice.

This reminds me of when I was doing a lot of public speaking. I wore jeans. Even when I was getting paid $15K per speech, I wore jeans. Even when I was speaking to a coat-and-tie audience, I wore jeans.

My agent told me to stop wearing jeans. I told my agent my content is so good that no one notices what I wear. So he stopped booking me.

The problem is blind spots. And part of the art of making it through adult life is to learn our blind spots before they completely undermine us.

This is a good time to complain about tests we administer to ourselves. I have already published a tirade about personality tests – why nearly 50% of people get inaccurate results when they test themselves.

But another example is that the are you a sociopath tests don’t work because the ENTPs and ESTPs are always excited to test as a sociopath. They think it’s funny. So they inadvertently skew the results.

Also, when you have someone test to see if they have Asperger’s, most of the time they will say their social skills are fine. That’s because people with Asperger’s don’t know what counts as a social skill. For example, meeting deadlines, sticking with the group, saying I’m sorry. These are all social skills that people with poor social skills don’t count.

I see the phrase “appropriate attire” a lot. Well, maybe not a lot now, but I did a lot when I was 13 in the ’70s and I was receiving tons of formal bat mitzvah invitations. But anyway, that phrase doesn’t mean you have to knock it out of the park with an outfit straight from the runway. It means just look like you fit in.

The same is true with appropriate grammar. People just need to know basics. As a former copyeditor, I know that one should not capitalize a job title unless the job title comes directly before a person’s name who is doing that job. The number of people who violate this rule is so large that breaking that rule is like wearing white after Labor Day: Whatever.

But those mistakes on Micah’s resume are on the list of must-be-fixed. And, here’s a list off the top of my head of common grammar errors I see on resumes from very smart people:

Do not use jargon as a way to abbreviate because you need everyone at the prospective company to be able to read your resume.

Always abbreviate state names unless you’re a calligrapher getting paid per letter.

Don’t write Inc. on your resume unless you worked at Inc. Magazine. No one cares about the incorporation papers of the companies you worked for.

Recognize rules are flexible, but no rules are random.Put periods at the end of non-sentences. Or not. Capitalize long prepositions in a headline. Or not. Abbreviate months. Or not. But be consistent; whatever you choose, do it every time.

Maintain past tense even for a job that you are still doing. If you are writing a good resume, you are writing about a moment in time when you were great. If you are writing about something you do every day, meaning you are still doing it, then stop writing that. A resume is about accomplishments and the second you accomplish something it becomes past tense.

Give your verb an object as a way to make sure you look great. Consider the difference between Emma ate. And Emma ate something. The latter is a specific time with a specific outcome. People get hired for making a specific impact at the places they work.

Don’t use quotation marks unless you literally refer to a person who you then quote verbatim. But if you are quoting someone verbatim on your resume, delete it. What are you thinking? The only acceptable quote would be from someone who is so famous that they can just make a phone call and get you the job without you sending a resume at all.

This article is written by Penelope Trunk, who helps others find jobs and has created four start ups, including Quistic. You can find this post here.

The opinions expressed here by Penelope Trunk are their own, not those of PenelopeTrunk.com.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

ABOUT GREG LEE


3 Leaders Reveal Their Hardest Conversations

Not all decisions are easy to make. How do you give a difficult talk to your teammate, boss, or even yourself? Andrea Williams covers this in her article for Michael Hyatt, on Nov. 27, 2018.

Building a successful organization requires interpersonal skills as much as knowledge of finance or marketing strategies. Perhaps the most important tool in the relational toolbox is the tenacity to have tough talks that lead to the sort of necessary change that makes growth possible.

Here, three individuals relate their most difficult conversations, revealing insights and advice applicable on a fairly wide scale. Their problems are likely to be yours at some point, if you are leading people.

Calling out a trusted team member

Addressing an individual’s poor decision making is never easy, especially if that person is a valuable part of the team and someone you want to continue working with long-term. The solution, says Shyam Krishna, founder of SKI Charities, is to empower that individual with more ownership over their role and the future of the organization as a whole.

SKI Charities supports local entrepreneurs in developing countries by providing microloans to women, giving them the necessary resources to lift their families out of poverty. In order the execute this mission, Krishna depends on project managers who are based in each country and are directly responsible for recruiting and developing entrepreneurs for SKI’s microfinance program.

During the organization’s growth in eastern Zimbabwe, Krishna discovered that one project manager was “overly-aggressive” in decision-making and enrolling beneficiaries who were not ideal for the program.

“She had been a stalwart member of our team and played a vital role in our early growth,” Krishna says, “so when I noticed this movement away from our core mission, I knew I had to speak with her about changing her mindset while balancing her continued engagement.”

Ultimately, Krishna reminded the project manager of SKI’s core mission, while also encouraging her to take an active role in creating and enhancing the company’s future vision. “With her involvement and ownership, she began to make decisions less as an employee and more as a leader herself,” Krishna says.

Giving the boss an ultimatum

While the onus for effectively tackling difficult conversation typically falls on leaders who need to address their subordinates, there are times when the need to initiate an important discussion starts at the bottom.

Before becoming the founder and CEO of business consulting firm Trebuchet Group, Chris Hutchinson was working under a leader who stifled his growth, taking over a number of his responsibilities once he had achieved success in those areas.

Hutchinson’s frustration was mounting.“I needed to help my boss do the role the business needed of him and let me do mine, or help transfer my responsibilities to him and leave the business,” he says.

Hutchinson presented his boss with two solutions: Either his boss would need to step back and focus on being the president of the organization, while Hutchinson exercised full autonomy as general manager, or Hutchinson would depart, transferring his responsibilities back to his boss.

“He chose the latter,” Hutchinson says. “Over the next few weeks, I coached him on how we would announce my transition…It was very difficult to leave my colleagues when I believed they would not be successful, yet I also felt I was in a no-win situation. The harder I tried to help, the less authority I had to be able to help.”

Hutchinson’s experience shows that not all difficult conversations will achieve an ideal result for both parties, but it’s important to have them nonetheless. His advice? Prepare in advance to ensure that your message is delivered with clarity and focus.

“A good friend gave me The Four Agreements book as I worked up the courage to present my boss with a clear choice and then follow through on that choice,” he says. “The book helped me make commitments to myself to do my best to be impeccable with my word, not make assumptions, and not take things personally. These lessons made a tremendous difference in that situation and have served me in other, difficult conversations with people at work.”

Owning up to your own mistakes

It’s estimated that one-in-five American jobs are held by contractors, and that, within ten years, half of the workforce will be comprised of contractors and freelancers.

For contract workers, the beauty of free-agent employment is the ability to assume full control over their schedule and work-life balance. But, in the face of poor time management and everyday life challenges, your schedule can quickly become an unwieldy monster.

As a self-employed attorney and mediator, Nance Schick has found that her most difficult conversations were the result of having to disclose her professional errors. This was certainly the case after a recent health crisis.

“I kept trying to work and thought I could get more done each day than I did, and this only made the work backlog pile up more,” Schick says. “This client’s project went further down my priority list each day, in part because I overestimated myself and made promises I couldn’t keep. Worse yet, I stopped communicating with her about my delays, thinking the project would be done before she even realized I was late completing it. I told myself this was okay because a lot of businesses operate this way, even if that is not how I run mine. But it was not okay.”

After recovering from laryngitis, pink eye, and a sinus infection, Schick was able to complete the project and submit it to her client for review. She also included and explanation, an apology, and a discount on her fees.

Since then, Schick has realized that it’s her responsibility to fully regain the trust of her client, but she’s also realistic in understanding that unforeseen circumstances may once again delay her productivity. Going forward, she plans to handle those situations with a different approach.

“First, I will be more realistic and honest about my schedule, even if it means I have to refer a project out to a trusted colleague,” she explains. “Second, I will notify the client immediately if I suspect a deadline won’t be met, and I will give the client a true opportunity to adapt, including by reassigning the project. Third, I will apologize by phone and allow the client to express her anger, disappointment, or whatever she feels.”

That may be a tough conversation to have but if she wants to grow, Schick believes it is a necessary one. “I must be the change I wish to see in others,” she says.

This article is written by Andrea Williams, digital content strategist, author, and journalist. You can find this post here.

The opinions expressed here by Andrea Williams are their own, not those of MichaelHyatt.com.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

ABOUT GREG LEE


Stop Relying on Your Company for Career Development

As one holiday ends, another begins. The path to career advancement doesn’t slow down for Mike Guggemos though, as this week we will be looking over his article written for Fortune in March 12, 2017.

Stop Relying on Your Company for Career Development

You probably aren’t doing these three simple and easy-to-adopt professional habits to raise your visibility at work—but you should be. Despite being simple, these are generation-agnostic, can be tested by any person at any point in their career, and, for the most part, are universally applicable across companies and industries.

Take control of your own advancement

As part of my job, I look at employee surveys, and one thing that habitually comes up is people wanting more career development and advancement opportunities. This fascinates me, because a lot of people aren’t doing very simple tasks—which can’t be replaced with organized committees or training programs provided by the company—to advance themselves.

In fact, I make a point to have one-on-one conversations with people to better understand their point of view around this idea, and invariably it becomes obvious that they haven’t put the onus on themselves to go out and look for—or even create—opportunities to get noticed. To put it bluntly, that is backward, and it won’t get you where you want to go.

Taking control and creating opportunity does not have to be part of a grand scheme or something that will eat away at your productivity. In fact, it comes down to basics. Introduce yourself, shake people’s hands, and get comfortable with putting yourself out there. If you are interested in a particular area, even if it isn’t related to your education, background, or current job focus, find out who the manager is—and introduce yourself in person.

“Hi, my name is…” can go a very long way.

Learn the art of strategic exposure

If you really want to get noticed, you have to put yourself out there in strategic ways. Volunteer for work and new responsibilities—even if it means stretching outside your comfort zone or having to put in a few more hours of effort at night or on the weekends.

If you want to have your boss’s job or boss’s boss’s job, you need to show what you are made of to large groups of people. There are three ways to do this: Speak up in meetings; find opportunities to give presentations; and write emails that will be seen by either large audiences or key decision makers.

Here is the hard part: Make sure you are clear, concise, and emotive when presenting and corresponding. These types of interactions are how you build your personal brand and credibility within the organization.

Make sure to show up

It’s old news that many companies have embraced a heavy telecommuting culture. For example, here at Insight, about 80% of my team telecommutes. However, this means that showing up once in a while is that much more important to getting noticed. Even though it may not be mandatory, make the trip in once or twice a week. If that isn’t possible, find a schedule that works for you. Even great work can’t supplant a handshake or a face-to-face interaction with teammates and managers. Conversely, if you are in the office but work with teammates or managers who are remote, make sure to introduce yourself to them when they are in town or ask them to grab a coffee.

While there are easy things to do to get noticed, there are also a few easy mistakes that can be made along the way. In short order, don’t take too much of people’s time, don’t over-communicate—less is more when you are striking up that initial conversation—and do your homework so that you have the right information to be brief, but effective.

In the few times I’ve seen people put these best practices to work, I have not only been impressed by their behavior, but often have noticed their realization of career dividends as a result.

This article is written by Mike Guggemos, chief information officer at Insight Enterprises. You can find this post here.

The opinions expressed here by Mike Guggemos are their own, not those of Fortune.com.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

ABOUT GREG LEE


6 Things Leaders Should Be Thankful For Everyday

With Thanksgiving arriving soon, I thought I would share this article published on November 22, 2017 on jmalonde.com, written by Joseph Lalonde. Taking a moment to remember the little things can make a big difference, no matter how busy the holidays become:

Tomorrow is Thanksgiving Day in the United States. Because of this, I wanted to reflect on 6 things leaders should be thankful for on Thanksgiving and every other day.

There’s a lot of pain that comes with leadership. Struggles no one else ever sees. Betrayals by coworkers and friends. Business failures. And so much more.

Yet there are also things leaders should be thankful for. Let’s take a look at these today.

6 Things Leaders Should Be Thankful For Everyday

1. Success:

Yes, be thankful for your successes. Your successes mean you’re having an impact on the world around you.

Don’t hide your successes. Celebrate your successes and be thankful for them.

2. Failure:

Hold up… You mean leaders should be thankful for failures? Oh yeah, leaders need to be thankful for failure.

Failure is an opportunity to learn and grow. You can examine your failures and see why they didn’t succeed.

Learn and grow from your failures. They’re a great stepping stone to your next success.

3. Influence:

If you’re a leader, you’re influencing other people. These could be team members, customers, even your vendors.

Your influence is guiding and leading people. Be thankful for the influence you have on others.

4. Team members:

Your team is a valuable part of your leadership. From leaders in training to the people working on the ground floor of your organization, these are the people who are the foundation.

Without your team, there’d be a lot more work for you, the leader, to take on.

Be thankful for your team members. They take a huge weight off of your shoulders.

5. The organization:

Sometimes it can be hard to be thankful for the organization you work for. There comes a lot of stress and frustration when you lead an organization.

There are times when you feel unappreciated. You begin to wonder why you’re there when no one values the work you do.

This shouldn’t negate the thankfulness you feel towards the organization. You have the opportunity to guide, build, and lead the organization in a new direction.

Be thankful for the organization you work in.

6. Your family:

Sadly, I’ve seen families get passed over by leaders more often than not. The leaders dedicate themselves to leading an organization yet forget to lead the most important organization they chose to join: Their family.

Your family is part of your mission. You chose them. And they’re a godsend.

Be thankful for your family every day. One day they may not be there.

Joseph Lalonde created JMLalonde.com to help inspire current and future leaders. You can find this post here.

The opinions expressed here by JMLalonce.com columnists are their own, not those of JMLalonce.com.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

ABOUT GREG LEE


The 5 Skills and Behaviors That Make Entrepreneurs Successful, According to Harvard Research

In keeping with the theme of entrepreneurship, the following is an article published in Inc.com on February 27, 2017, written by Marissa Levin, Founder and CEO, Successful Culture, discussing the skills and attributes the Harvard Business School found in common in successful entrepreneurs:

Richard Branson has tremendous passion. Elon Musk sees no limitations. Steve Jobs was relentlessly focused on perfection and the customer experience. Oprah Winfrey and Tony Robbins were determined to build a life of abundance by overcoming poverty and abuse.

What is the secret to successful entrepreneurship? Is it passion? Vision? Focus? Intelligence? Grit?

Harvard Business School (HBS) set out to unpack the answer to this question, which hasn’t been easy.

HBS Professor Lynda Applegate, who has spent 20 years studying leadership approaches and behaviors of successful entrepreneurs, shared that it has always been challenging to capture the skills and behaviors of successful entrepreneurs.

“Part of the problem is that people usually focus on an entrepreneurial ‘personality’ rather than identifying the unique skills and behaviors of entrepreneurs who launch and grow their own firms,” she said.

To uncover the most common skills and attributes, the Harvard research team administered a self-assessment to 1,300 HBS alumni, and then a follow-up 360-degree assessment that collected data from the peers of the 1,300 participants.

To prepare for the assessment, the research team combined literary reviews and entrepreneur interviews. Through this analysis, they identified 11 skills and attributes that are common in entrepreneurs. These are:

  1. Identification of Opportunities. Measures skills and behaviors associated with the ability to identify and seek out high-potential business opportunities.
  2. Vision and Influence. Measures skills and behaviors associated with the ability to influence all internal and external stakeholders that must work together to execute a business vision and strategy.
  3. Comfort with Uncertainty. Measures skills and behaviors associated with being able to move a business agenda forward in the face of uncertain and ambiguous circumstances.
  4. Assembling and Motivating a Business Team. Measures skills and behaviors required to select the right members of a team and motivate that team to accomplish business goals.
  5. Efficient Decision Making. Measures skills and behaviors associated with the ability to make effective and efficient business decisions, even in the face of insufficient information.
  6. Building Networks. Measures skills and behaviors associated with the ability to assemble necessary resources and to create the professional and business networks necessary for establishing and growing a business venture.
  7. Collaboration and Team Orientation. Measures skills and behaviors associated with being a strong team player who is able to subordinate a personal agenda to ensure the success of the business.
  8. Management of Operations. Measures skills and behaviors associated with the ability to successfully manage the ongoing operations of a business.
  9. Finance and Financial Management. Measures skills and behaviors associated with the successful management of all financial aspects of a business venture.
  10. Sales. Measures skills and behaviors needed to build an effective sales organization and sales channel that can successfully acquire, retain, and serve customers, while promoting strong customer relationships and engagement.
  11. Preference for Established Structure. Measures preference for operating in more established and structured business environments rather than a preference for building new ventures where the structure must adapt to an uncertain and rapidly changing business context and strategy.

Five Standout Traits

Out of these 11, Harvard found that founders scored significantly higher than non-founders for:

  • Comfort with uncertainty
  • Identification of opportunities
  • Vision and influence
  • Building networks
  • Finance and financial management

Founders had significantly lower ratings for “preference for established structure.”

Men Versus Women

HBS also examined the differences between men and women founders:

  • Women ranked higher in the dimensions of “efficiently manage operations” and “vision and influence.”
  • Men ranked higher in “comfort with uncertainty” and “finance and financial management.”

Serial Versus First-Time Entrepreneurs

Not surprisingly, serial entrepreneurs have much more confidence than first-time entrepreneurs, having more confidence especially in the areas of “building networks, securing financing and financial management, and generating creative ways to identify and meet market opportunities.”

The Future of Entrepreneurship, According to Harvard

As more and more people participate in the assessment, Harvard will be able to tap into the data to learn what entrepreneurs and organizations need in terms of leadership to help them grow.

Researchers will be able to extrapolate data around criteria such as age, gender, country, size of business, industry, type of venture, pace of growth, and many other factors that will shed light on how entrepreneurs are similar and different.

This knowledge will help all business owners tap into their own strengths, and surround themselves with others that can achieve their greatest potential.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.

ABOUT GREG LEE


The 5 Mistakes Entrepreneurs Make When Going From Employee to Self-Employed

Focusing on entrepreneurship, I’d like to share an article published in Inc.com on February 16, 2017, written by Beth Doane, managing partner of Main & Rose, discussing what you should know what you are getting into before making the leap:

Thinking about leaving your cubicle for the thrills of the startup world? So have 27 million other people like you. The good news is that there are more resources now than ever to help you find success when making this leap. The bad news is that just one small misstep and you can end up right back in your 9-to-5 gig.

I never worked in a corporate environment, started my first company when I was 22, and made a slew of expensive mistakes in those first few years. I attribute being able to survive to the fact that I had great mentors along the way and met fellow entrepreneurs who I could lean on for guidance and support.

I recently caught up with one of these fellow entrepreneurs, Darren Humphreys, who now spends his time tracking lions across the Serengeti or lounging on a remote beach on a hidden corner of Madagascar, but his original career was the farthest thing from this lifestyle. Darren hails from the top ranks of Wall Street and walked away from it to start a travel company. Like me, Darren learned how to scale and be his own CEO through making mistakes.

Below, we compiled the top mistakes founders make and what you really need to know to make it as a true entrepreneur.

Not Finding the Real Niche

Knowing what you want to do — and are passionate about — is not enough to make it a business. Even having a business plan, a marketing plan and a whole lot of venture capital won’t cut it these days. You must dive far enough into your concept to find the niche within it. If you can identify this niche within your “passion” industry, you will be truly distinctive and it will set you up for success.

Budgeting Incorrectly

Don’t leave your career without a plan and enough money to get you through the first six months. A new venture always costs more than you think, and that includes “opportunity cost.” When Darren first started his company, he knew if he had to budget and without a plan, he wouldn’t get very far. It’s worth hiring an expert for your budgeting (and making sure to budget for that expert!).

Underestimating Timeframes

New ventures always take longer than you anticipate. Darren advises that you should aim for validation within the first 12 months, and profitability within the first three years. I found this to be true: The companies I see succeeding wildly are able to bring a simple product to market and test it quickly, so they can make adjustments and improvements on the fly.

Not Being Selective Enough

You are only as good as the people you surround yourself with. Finding a co-founder who complements you is crucial, and if you make the wrong choices, it can tank you before you even start. We always eventually become what we are surrounded by, so choose your staff and partners very carefully. Both Darren and I learned to hire slowly (and fire swiftly) in our ventures.

Having Incorrect Definitions of Success

Not all success is measured in dollars and cents: Darren knows this to be true, because he sacrificed things to be able to call the ocean his office. It’s easy to forget that success is what you make of it when you are trying to survive and build a business. Quality of life and crafting your own path hold a great deal of value, so before you start on your journey, make sure to write out what is truly most important to you — like family, your hobbies, giving back and learning new skills.

If fulfillment came from cash, America would be the happiest place on earth. Instead, pay attention to what really inspires you — and make sure you include that in your daily life.

Beth Doane is an award-winning writer, speaker and social entrepreneur. She is the managing partner of Main & Rose.

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

If you need help getting started in a new business venture, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.

ABOUT GREG LEE


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