Month: September 2007

What’s Your Time Worth?

We all know that lawyers charge by the hour, but do you realize that we all do?  For example, let’s say you sell advertising.  Think about what you’re on track to make (include the benefits too) this year and then divide that number until you get to an hourly figure.

Voila, that’s what you charge per hour.

Here are some tips on making the most of your fees:

  1. Examine who you’re spending time with.  What’s the ROI?  This applies to all aspects of life…even those not in sales.  Funny thing is, people can and do rub off on us.
  2. Are you getting anywhere in what you do?  Time is too precious to waste on something that will never produce a return.
  3. Recognize that life is a limited time offer.  You don’t have as much time as you think you do.
  4. Value (attached some type of number or worth) everything you do.  You might be surprised at how much of who you are is not associated with money.
  5. Commit to being a life-long learner.  Been said before, but those who learn are those who earn…the most.

How We Develop Leaders

Fortune_20071001

I’m for the group and not the individual.  Recognizing that it takes multiple individuals to create a group.  Some arenas call this a team.  I get a little leery with throwing around the word team.  It’s overused and rarely is it an accurate representation of reality.  And even then, you have to address whether the group is really interested in the good of the whole. 

That brings me to this article from Fortune.  The ideas contained in the piece are of some value.  But I wish we could hear from those that come out of the programs instead of hearing once again from the CEO.  Yes, I know, that leadership often starts at the top.  My opinions don’t negate that truth.  I just don’t think the CEO is the most valuable member of the team.  Nor should they be.

Fortune needs you to buy the magazine.  So it makes sense for celebrity to drive that approach. 

Here’s some things to consider as you look at leadership development in your organization:

  1. Leadership development should not be exclusive to the "anointed."  Leadership is influence and therefore should cascade through the entire organization.
  2. Call your customer service department/division and be the customer.  Your experience will tell you where the organization truly is as it relates to leadership development.
  3. Ask yourself who’s doing the talking.  If only senior management is fulfilling this role, then your organization has a ways to go in leadership development.
  4. Is your CEO a servant?  Does he or she put themselves last?
  5. When was the last time you were encouraged to make a mistake (often the best path to learning)?  Better yet, how were you treated the last time you made a mistake?
  6. In reference to #5, is your organization tolerant of multiple mistakes?  If they are then your in a cult.

Job or Family?

Yesterday’s post from The Juggle explores the issue of career vs. family.  Some might not relate to this because they’ve made peace with the argument.  This group is small though, so I anticipate my comments will be of value to you.  The fight is always about being loyal to our priorities.  Priorities are the things that shade these conversations.

The big question is whether you’ve actually defined your priorities.  Have you?  Are you willing to exercise the discipline to live them out in the order you placed them?  Don’t feel bad if you’ve failed at it…we all have.

Here’s some advice on getting your priorities in sync:

  • Set your priorities.
  • Live your priorities.
  • Prepare to be tempted to compromise your priorities.
  • Prepare for the lonely road that having priorities will create. 
  • Most people haven’t a clue about what’s number one, number two, etc., so don’t expect a large crowd applauding.
  • Practice the art of connecting the dots.  This art is live out through seeing how being true to your values produces great results over time.  Life is like Hebrew…you need to read it backwards to understand it.

The Authentic Side of Truth

Are you struck by the willingness of some to stray from the Truth?  Are you shocked that in many situations people have redefined Truth.

I didn’t think we had a say in the matter.  Truth is truth, right?

This article from AP details some excerpts from Alan Greenspan’s new book The Age of Turbulence.  Did Bush & Co. miss it on controlling spending?  What would Truth say?  I come down on the side of they didn’t control spending.

What’s more disappointing is when nobody is willing, specifically in the business world, to stick by Truth.  What to do, what to do…

Here are a few questions to ask to see where you stand:

  • Have you accepted that you might lose something in order to gain something, when you stick by the Truth?
  • Have you revised the meaning of Truth since you started out in your specific career?
  • Is it ever OK to lie to a customer or fellow stakeholder?
  • Is it possible for the Truth to change from year-to-year or generation-to-generation?
  • Do you think there are dire consequences when you lie?

Go find your mentor/adviser/coach (spouse, friend, parent, colleague, etc.) and give them your answers.  Send me a comment if you need help.

Worth the Risk

What project, mission or quest have you entered into that you’ve consciously said is worth the risk it required?  The greater question may be found in whether you’re involved in something that has tremendous risk.  Low risk situations/endeavors sound really good, but are often poison pills designed to get you comfortable.  And we know what comfort can do…

Organizations would be more effective if they embraced more risk.  Sadly the allure of making money dulls some to taking on more risk.  Organizations become voyeurs (always watching some other group take the shot) and stand behind the lines.  You might be surprised at how many of your employees desire to risk greatly in order to be a part of something great.

Individuals would change the world if they’d stop looking for easy safe paths.  Don’t you want to be involved in something that has enough risk to make you nervous, anxious or downright afraid?  I know you may be thinking I’m crazy, but everything in my life that creates those feelings are pathways to greatness. 

Are you afraid of losing your position and power?  That answer will reveal a lot.

This post is not about taking stupid risks.  It’s about waking up from the slumber of safety.  Safety says its always wiser to keep doing what you’ve been doing.  Foolishly, we think that past results will create equally positive ones in the present and future.  See the music business on that one (the impact of iTunes on their business model).

Here are a few insights on how you can take more risk:

  • If your organization hasn’t ventured into new businesses, start investigating the possibilities.  The ones that scare you could be big winners.
  • Find a mentor/coach/adviser who will challenge you to move out of your comfort zone.
  • Volunteer for something you believe in, but have ignored for years because of your insecurities (I’m not smart enough, I don’t know anyone, fear of rejection, etc.).
  • Be willing to fail.  It won’t kill you, but it could lead to even more opportunities.
  • Start seeing risk as a friend and not a beast from hell.

A Little Advice on Networking

Motivations are everything and is especially true in networking.  I’ve found that many don’t network for the following reasons/excuses:

  • They see no value in who they are.  Ironic, sense God made us totally unique (check your DNA compared to every other human being on the planet).
  • They are too busy.  Too busy to connect…hmmmm?
  • They only care about themselves.  This is a huge problem unto itself.
  • They don’t know where to start.

I found this post on 800-CEO-READ titled: " Six Essentials for Networking – Rules for Renegades."  The author gives some great tips on how to make networking effective.

Go spread your story.