Archive for the ‘Leadership’ Category

This is the third in a four-part series asking, “Do you have it in you, to be an entrepreneur?” There are four key strengths that are must haves for an entrepreneur to be successful.  Previously, I discussed the Passion and Guts.  Here, we’ll discuss team.

I suspect, when most people think of an ‘entrepreneur’ they’re thinking of a single person, moving mountains on their own, going it alone.  Later, they marvel at how the one individual became an ‘internet millionaire’ or now owns a 1,000 person company or some such.

The reality is so very far from that truth.  No matter who the successful entrepreneur is, they are always surrounded by their team. Look at the names you know, like Donald Trump and Robert Kiyosaki. Robert tells stories in his books about the importance of building a team.  Donald, especially in the acclaimed Apprentice series, made the value of team very visible by including them on his own television show.

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For some time now, we have been hearing about a looming labor shortage in ‘10-15 years.’  That forecast has been out there quite a while now.  It seems odd that, even as we’re suffering higher unemployment than we are accustomed to, that this remains an almost certainty.

Why is that?  If you’ve not monitored labor trends, there are at least two key drivers.  One, is that the following generations (X-, Y-, …) are smaller than the baby boomer generation.  As the boomers begin retiring, there are fewer to replace them.  At the same time, other major parts of the world, such as India, China, and Brazil, are rapidly developing and more effectively competing for those same people we’d normally bring to the U.S.  Now, they’re returning or simply not coming to our shores to begin with.

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This week I participated in a discussion on what you need to do to strategically position yourself for moving into executive management.  There was a lot of input as you might expect, given the topic.

Distilling the comments, it came down to demonstrating:

• Acceptance of Increased Responsibility
• Courageousness – Make the hard decisions
• Vision and Leadership
• Ability to Influence colleagues at all levels
• Willingness to Move (to another company)

In my own experience the last two factors rise above the rest.

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I’ve been interviewing business leaders in preparation for my presentation at next month’s It’s a Duesy II Manufacturing Revival.  I won’t give away too much before the March 17th event, but there are a few common topics that have come up.

One topic, Flexibility, was mentioned, unsolicited, in each interview. Their respective domains included Manufacturing, Finance, and Human Resources.  As you may expect each brought the topic up in a different context.

From a manufacturing perspective, there is a need to be flexible in how companies are organized.  Many manufacturing concerns use organizational models first developed in the post-World War II era.  Companies like IBM, United Technology, Ford, GM, and the like, developed rigid, deep, hierarchical organizations.  As a result, their ability to change to meet current needs was all-but beyond their grasp.  Not until experiencing near-death experiences, such as with the Domestic 3, were they finally desperate enough to change.

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Leadership opportunities can be found in all kinds of places. Sometimes they pop up in the most unusual of circumstances and you adopt the role without even thinking about it.

Not too long ago, I led a group of motorcyclists on a ride. We started out in downtown Asheville, North Carolina. Traffic was heavy enough that even with GPS, safely and correctly leading the group through the lump of spaghetti masquerading as a series of closely clustered interchanges proved challenging.

15 minutes, and I’ve already had to make a half-dozen impromptu leadership decisions—each one with 5 friends mentally critiquing my every move.

So about 10am in the morning, we’re somewhere north of Asheville, as our small group begins to work its way westward. We’ve left the big city rush well behind us, we’ve unwound ourselves, and eventually roll into a small town that the crush of time seems to have left alone. It’s the sort of town where everything’s almost sleepy, peaceful, with that small town ‘clean’ about it.

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[Hey! They made me:)] I’m rather tickled actually.  This week I received word that Alltop has added this blog (www.jtpedersen.net) to their Leadership section.

This is something of a big deal for me, personally.  It shows you’re not alone in feeling there’s content here worth reading…adding value.

So, here’s my thanks to Alltop, to Guy Kawasaki & Team, for including www.jtpedersen.net in an increasingly important site.

Cheers!

I’m pleased to let everyone know, March 17, I will be speaking at the It’s a Duesy II Manufacturing Revival Conference.  You’re encouraged to come.

Dennis Jeffrey of Tekni Consulting is the event’s organizer.  Heading into 2010, we begin to catch our breaths, having simply survived 2009.

Now, is the time for revival!  But, not revival just as a dictionary would describe it.  One definition is, ‘…restoration to use…’  We need not to simply revive, restore, or return to pre-‘09 conditions, we need to find ways to thrive, to strengthen ourselves and move forward positively.  With this in mind, I was happy to accept Dennis’ invitation to speak.

My discussion is part of the event’s Management track, focusing on Change.

The world around us continues to evolve; nothing new there.  But many organizations, even as they change what they look like, have largely stayed the same inside.  Social, technical, global evolution has now come so far organizations simply have no choice but to finally begin changing who they are inside.

Register Now! Early Bird Pricing until February 15th! Price is only $89/ person, group rates available.

For those of you who have followed my blog, you understand that my focus is on providing thoughtful business leadership.  Come listen as I discuss areas often neglected by leaders, allowed to fall by the wayside, which are increasingly important in today’s world—areas that need to change.

In preparation for this event, I am actively interviewing business leaders and soliciting input—including yours, dear reader.  I encourage you to provide your input regarding how businesses need to change in order to thrive, moving forward.  Feel free to Comment, or send me an email (results@jtpedersen.net).

From my perspective, Seth has written perhaps his most impactful book yet. The Linchpin is a new category of person, one who engages their personal ‘art’ in what they do, who can see the course to take when a map doesn’t exist.

This book is a mix of looking at how we think; how we decide; how we got here; and, what is going to be needed to be successful moving forward.

To become a linchpin is to become indispensable.

Seth does a good job encouraging the reader to apply their ‘art’, that ‘extra something’ you enjoy doing, to become indispensable, to leader your organization forward–regardless of your position within it. Rather than simply be a cog in the boss’ machine, do more, be more, whether you reap direct reward (e.g. $$) or not.

Along the way, you might learn a few other things. One of which, led me to post, "Mid Life Crisis Explained.”

The world has changed. Permanently. We can struggle to maintain status quo, or, at least contemplate the options Seth presents.

Recommended.

In Seth’s latest book, Linchpin,  he spends a lot of time talking about maps and artists.  That being an artist means you create your own map, your own path.  And, that society is changing.  Rather than spending your life following a map someone else created, to be successful you’ll need to create your own map moving forward.

While I’ve not been an assembly line worker in a literal sense, it took me awhile (couple dozen reiterations) for what Seth was talking about to truly sink in…appreciating how much of it related to my own life.

Life was relatively easy, for a long time.  With a clear goal in front of me, I could move mountains to achieve it.  I would feel a sense of accomplishment, and life was grand.  So, for the first 3/4 of my life, this is how it worked.  Goal, after goal, after goal.  Going into the service, I bought a map out of the carousel, having chosen to go into aviation.  Once there, the Navy gave me a nice [flight] bag of additional maps to follow (exams, flight certifications, instructor certs, regular performance reviews, etc.).

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This paraphrases the situation a friend of mine, selling a sophisticated yet simple product, frequently encounters.  The fact the company he’s selling for can’t get past the objection reflects an indifference to customer sensitivity.  A lack of customer-centricity.

The question today is how to compete moving forward.  If you’re in a market like the U.S., Western Europe, or Japan, you face a mature slower-growing economic environment—current economic challenges notwithstanding.  Using the automotive industry as an example, growth of 20, 30% annually is considered good.  In North America, 2-3% is considered good.

So if your market is mature and you can’t count on a rising tide to float all boats, how do you prosper?

The days of competing primarily on product and price, particularly for commodity-oriented offerings, are dwindling.  If you’re selling a car, there are numerous ‘family sedans’ with almost identical feature sets, for nearly identical prices.

This suggests a new way of competing must become prevalent.

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