What We are Seeing from CEO’s in Lockdown

He aha te kai a te rangatira? He kōrero, he kōrero, he kōrero. 

What is the food of the leader? It is knowledge. It is communication

It is an amazing time to be leading people and leading a business. Since lock down we have been working closely with CEO’s across New Zealand, several in Australia & also in the USA. Work at present consists of keeping our team connected whilst we work had to anticipate what our clients will need so as to stay ahead of them. We have just run a webinar & panel which was well attended entitled “Leading in Lockdown”and you can download the video here. There is also a useful panel discussion at the end of it.

Many times a day I am asked how others are dealing with it, what am I seeing across industries. This morning we spent some time as a team reflecting on what we are seeing from our clients across a range of industries. In no particular order here is what we are seeing so far;

  1. Some are reflecting that they are glad this has happened now and not two years ago, before they invested in their exec team and strategy. Their culture of action is holding them in good stead to quickly pivot.
  2. Having tight exec team and clarity (team rules/norms) on how they operate is valuable.
  3. All are wanting to know how others are coping and dealing with the issues. There has been massive value in sharing ideas and connecting people.
  4. CEO’s value someone to talk to and just bounce ideas. It is a lonely space & they want to make sure they have not missed anything.
  5. All have quickly responded to the crisis and now are re-orientating to the future and how they will lead through the restart. The restart scenarios are slowly becoming clear and teams are starting to work through and model what this might look like.
  6. Many reflect that they won’t go back to the way they operated. The world has changed and there is more understanding of virtual tools for meetings, learning, training and less travel. Even the tech dinosaurs have had to change & adapt!
  7. Some CEO’s reflect that this has been a great catalyst for advancing culture change & structuring work productivity in new ways. Prior to this there was resistance and now it just “roll up the sleeves & crack on”.
  8. No one has lead in this situation before despite what the “experts” may portray. Therefore there has been real value in reflecting on the Global Financial Crisis & for Canterbury based businesses the lessons learnt from the earthquakes. This has provided confidence and allowed them to understand their business is resilient and they can lead through it.
  9. Some industries are really doing it tough: Hospitality, accommodation, retail, travel etc. They are feeling for their staff and are working hard to find options.
  10. Some CEO’s who have previously delayed hard calls around succession or structures are now faced with some really tough situations and decisions what will impact a lot of their people and in some cases the viability of their business.
  11. Those leading are empathetic and genuinely seeking to look after people in the first instance. They want to do the right thing.
  12. Sharing good & timely practical information has been valued as they work through the challenges they face. Using video updates, live all of team calls, e-mails etc has been really valued by staff. Just checking in on them and their families means a lot.

It is a time to over communicate via the platforms available and to communicate directly with staff. As we now reorientate to the future there will be opportunities and different challenges. It is a time to lead and inspire those we lead but remember as a leader you make the impact. You must look after yourself, keep fit, worry only about what you can control, connect with family, friends and mentors often & have some fun.

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Leadership Lessons form 200 CEO’s: 2018/19

Annually since 2013 I have surveyed over 200 CEO’s across the USA, Australia and New Zealand to seek feedback on two key questions relating to what they have learnt and what challenges they feel they face over the coming 12 months. This creates a huge amount of information which takes some time to distil down to the key patterns that show up across all the replies. It is also a very interesting document to read because these busy business leaders have taken the time to reflect and answer the questions.

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The trend over the last five years has been leading in constant change, the challenge of developing teams who have the resilience to thrive in uncertainty (created by constant change) and who can still achieve growth and a solid bottom line profit. There is much more awareness of the importance of a good culture of engagement and the need for governance, mentors and coaches to stay ahead of the crowd (competitors). I do note that the CEO’s surveyed tend to be those leading high performance companies that perform year on year despite market conditions and competitor moves so they are adaptable and already good at execution.

Question 1: What are the three biggest leadership lessons you have learnt in 2018?

  1. Culture & people have the biggest impact. Their skills, behaviours, diversity, ideas. The ability of our team/s to work together and to keep the clients at the centre of what we do in terms of high value products and services. No one can steal your culture.
  2. There is a need to move fast, make clear decisions & Execute. Know your numbers, focus, iterate the plan based on a good review process but stay the course to achieve success. Its less about the smartest ideas/plans and more about making important things happen i.e. executing.
  3. Trust yourself and your professional judgement. Back yourself to know the industry from your years of experience but be open to new ideas and ways. Make the big decisions, sleep on them, seek the best advice from those you trust & don’t over think it. But make good clear decisions, tell people why and then focus on making it happen.

Question 2: What are the three biggest challenges you will face as a leader in 2019?

  1. Finding the right people to allow the company to scale for growth. Recruiting, inducting, training and then being able to lead them well and retain the top people. It is tough to find the people with experience you need in many industries.
  2. Hitting growth targets in a tougher economy/market environment. There is a lot of change and uncertainty and in many markets there is more competition. Economic outlooks over the next 12 months are for a tighter market. The challenge of continuing to grow is very real.
  3. Taking time out to recharge. Finding time to rest, learn, study and have a good life balance when things move so quickly. There is more pressure to work longer hours and more days a week. The smartest leaders know it is a marathon and not a sprint so being balanced is needed to stay focussed, fresh and at the top of the game.

You can see the results of the 2017/18 survey here.

You can look back over a summary of the last five surveys here.

The lessons I personally learnt as a leader in 2018

I thank all those CEO’s who took the time to reflect and provide feedback.

Business & Leader Succession: Panel Discussion

48% of NZ businesses will need to navigate the challenge of Leader, Founder and possibly ownership succession. It is a global trend as baby boomers come out of their business that will peak around 2028 – 2030. It also presents a massive opportunity to get right. How do you create a culture of leadership development and succession planning? How do you start to get your head around the journey ahead. This panel video is worth watching as you start the conversation and the journey.

Data Wins Arguments: Less “Think” More “Know”

unnamedIn the busy world of business seniority tends to over rule in decisions that have no data. The more experienced and senior members of teams have more sway in decision making as they offer opinions and ideas and too often they are incorrect. They are assumptions based in history, bias or a lack of new thinking.

I work with senior teams all the time and see this pattern. The founder, CEO or “old heads” will refer back to what happened or didn’t happen in the past or what they think. This is often driven by the desire to avoid change because as humans we all hate having to get uncomfortable. New team members voice their views and ideas that are worth exploring but are simply dismissed and at its worst this creates a culture that resists change. It creates a significant risk that the organisation will be irrelevant in the near future.

At its worst countless hours are spent talking about opinions as if they are facts. One of the lessons I have learnt is that “Data wins Arguments”. Data takes the discussion from “I think” to one of “Let me show you”. It shifts the conversation to one that will get a good solid outcome. It takes emotion and bias out of the equation. It leads to data driven and robust business decisions. The role of a leader is to disrupt business as usual in a good way so that the company adapts and thrives in the future. Data can create a huge mandate for change by exposing current & future reality.

This is the impact of KPI’s, financial trend graphs, research, analysis of patterns and numbers. A simple exercise of graphing the monthly, year to date and lifetime revenues of your top 20 clients and having your team sit together and discuss what they see can have a huge aligning effect and can completely shift thinking, perceptions and provides clarity of the actual reality.

This video is worth watching as it outlines just how wrong we get it if we don’t seek data about what media shows us. The gap can be huge and in fact chimpanzees can be more accurate if we don’t look for the numbers and validate our perceptions.

High performance leaders go well beyond emotion, perception. They are aware of the impact of data and seek it to get better business decisions.

Advisory.Works in Action

Each week we are delivering valuable services as true trusted Advisors throughout New Zealand, Australia and the USA to High Performance Businesses and Executive Leaders looking to Execute, simplify their business and to increase their influence as professional leaders. A snapshot of the team in action.

Leader of the Future

Leadership is a game changer, the “magic ingredient” that can take a group of individuals, shape them into a team and then inspire some incredible achievements. I am lucky enough to work with, support and spend time amongst some amazing leaders both within Advisory.Works, the NZ Army and our client portfolio that includes prominent CEO’s, Founders and Directors from leading brands/companies in NZ, Australia and the USA.

Photo by: Visual Culture Ltd (www.visualculture.co)

Change and disruption are now just part of our new normal and we see business leaders actively seeking the leadership skills that can give them the edge. The ability to enable a culture that talented employees want to be part of and the ability to change and iterate so as to consistently stay ahead of their competition. Leadership is a lonely place and the skills a leader needs are not really taught anywhere. Influencing the future leaders is something I am passionate about and why I’m actively involved with MBA & Masters programmes at the University of Canterbury.

Our Strategic Business Partner John Spence recently spoke at the University of Canterbury Executive Leader Programme as part of the “Thought Leadership Series” and covered many of the current and emerging leadership trends he is seeing in his work globally with high performing organisations. You can check out his presentation here;

Let me know your thoughts?

2 Minutes Hanging Out with John Spence

I caught up with my good mate John Spence in Auckland this week. John was over doing a bit of work with our company and speaking at a conference. While he was here he appeared on the Am Breakfast show speaking about whether NZ can compete on the global tech stage. I spoke with him on Tuesday in this short video.