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Seth and the cowboy

Leadership No Comments »

Seth Godin had an interesting short post oh his blog yesterday. Here it is:

Small business success

Three things you need:

  • the ability to abandon a plan when it doesn’t work,
  • the confidence to do the right thing even when it costs you money in the short run, and
  • enough belief in other people that you don’t try to do everything yourself.

That’s it. Short and sweet and pretty hard to argue with.

For many business owners and CEOs, the last point is the hardest. That’s because Americans love cowboys.

One of our strongest national myths is the story of the cowboy, the rugged loner who rides into town and saves the day. It permeates our literature, our films, our music. (Remember, not all cowboys wear cowboy hats). And it’s really dangerous and misleading.

Most good things aren’t accomplished by lone individuals, though we tend to believe otherwise. People usually can’t change the world all by themselves, though we’d like to believe they could.

And let’s not forget the horrible cost to the cowboy. Shane walks away in the end. The lone hero has to remain alone.

You may be the boss, and that may mean that, in some sense, you’re responsible for everything. It doesn’t mean you have to do everything. If you try, you’re probably going to hurt yourself and your company.

If your want to change your future, talk about it!

Leadership, Management, Strategy No Comments »

“CEOs are the heads of firms in more ways than one. They lead the firm by directing the attention of others in the organization toward thoughts and actions that ensure the survival and growth of the firm. . . . Firms can particularly benefit from CEOs who focus on the future.”
–Manjit S.Yadav, Jaideep C. Prabhu, & Rajesh K. Chandy

If you’d like to be sure that your company leads the competition in innovation, talk about it. That’s the message of a new study by Manjit S.Yadav, Jaideep C. Prabhu, and Rajesh K. Chandy.

The study looked at letters to shareholders in the annual reports of on-line banking companies over eight years. It found that the amount of time CEOs spent talking about the future of their companies correlated strongly with more innovation and faster adoption of new technologies. In other words, CEOs who spend time paying attention to the future get better results in the future.

That may seem obvious to you, but apparently not everyone gets it. One study showed that most CEOs spend less than 3% of their time thinking about the future. That’s three percent. That’s not much more than an hour a week!

Of course, you’re busy. You’ve got a thousand things to think about now. Things that have to be done today. Things that will have an immediate impact on your organization’s performance. Of course that’s where your time has to be spent.

But wait. If you’re going to be a leader, you’ve got to know where you want to go. Maybe somebody else can take over worry about where you are now.

Think about it. Talk about it. It looks like it might make a big difference.