The Seven Habits of Spectacularly Unsuccessful Executives

Sydney Finkelstein researched why 50 former high-flying companies failed, and defined the Seven Habits of Spectacularly Unsuccessful Executives (SUEs) . . .

Habit # 1: SUEs see themselves and their companies as dominating their environment
SUEs vastly overestimate their influence over events and vastly underestimate the role of chance and circumstance in their success. They believe that everyone else in the company is there to execute the SUE’s personal vision for the company.
Warning Sign for #1: A lack of respect

Habit #2: SUEs see no boundary between their personal interests and their corporation’s interests
SUEs use their companies as private empires, and act as if they are king of their own country, free to spend any amount they choose on themselves.
Warning Sign for #2: A question of character

Habit #3: SUEs think they have all the answers
All executives have to develop rapid decision making skills, handle many crises simultaneously, and quickly size up situations that have stumped everyone else for days. But SUEs only listen to their own words, shut out other points of view and are closed to learning anything new at all.
Warning Sign for #3: A leader without followers.

Habit #4: SUEs ruthlessly eliminate anyone who isn’t completely behind them
By eliminating all dissenting and contrasting viewpoints, SUEs cut themselves off from reality. And with only yes-men left, who’s there to warn them that the world’s not as they would like it to be ? Or come up with a new and different approach ?
Warning Sign for #4: Executive departures

Habit #5: SUEs are consummate spokespersons, obsessed with the company image
Beware high-profile executives, constantly in the public eye, with little time for operational details.
Warning Sign of #5: Blatant attention-seeking

Habit #6: SUEs underestimate obstacles
SUEs are afraid of appearing fallible, so they avoid admitting mistakes at all costs. They’ll especially avoid accepting that the obstacles they casually waved aside are more troublesome than anticipated.
Warning Sign of #6: Excessive hype

Habit #7: SUEs stubbornly rely on what worked for them in the past
Many SUEs owe their careers to a “defining moment”: the one thing they’re known for and what gets them all their subsequent jobs. This, combined with some or all of Habits 1-6, means they have only one point of reference, and don’t consider the wider range of options needed to address new circumstances.
Warning Sign of #7: Constantly referring to what worked in the past

Finkelstein’s bottom line: If you exhibit several of these traits, now is the time to stamp them out. If your boss or several senior executives at your company show them, start looking for a new job.

Three simple negotiation rules

I have a shelf full of books on negotiation, all promising to change my life. But sometimes you find a simple rule set that really helps.

Recently I came across Larry Brilliant’s 3 rules of How to Negotiate. Google him if you’ve never heard of him, but they’re dead simple, and dead right:

A) Have more points to discuss than the other side.
In wanting a conclusion, it’s only too easy to run out of big things to talk about, and then the other side can start pressuring you for a close. If you’ve lots of points important to you, you always have another reason to call, more concessions to offer (make them small !), and stay centre stage right to the end.

B) Have a mathematical formula.
Invent a calculation that justifies your desired outcome. It will of course be high: not too scary, but definitely ballsy. Of course it will be challenged, and you can discuss the assumptions, the multipliers, the variables, and any qualifying factors. But your initial, calculated (and hopefully daringly high) start point anchors a value in peoples' minds, and stops them replacing your value with theirs.

C) Have alternative outcomes.
If you don’t have walk away options, you will lose out. If you're selling a business, have other financing or exit options. If you're selling products and services, work as hard as you can to build a full pipeline.

Handling interruptions

To keep costs down, I asked our receptionists one time if they could answer customer queries and complete simple documentation. I was taken aback when they said "No, definitely not". They were adamant that the constant interruptions from phone calls and visitors would result in errors, and they weren't prepared to do a bad job for me. They said: "If you don't believe us, do it yourself."

So I did, and sat on reception. And they were right: it was impossible to concentrate, and in 4 hours I completed one task only, when normally I'd have flown through dozens. It reminded me of my early days programming: if you lost your thread of thought, it took ages to get it back, and sometimes you'd lost a good idea for ever.

A recent article in Forbes magazine brought this all flooding back, as it described how you could measure interruptions. The quoted studies showed each time flow state is disrupted it takes fifteen minutes to get back into it, and that programmers who work in the top quartile of proper (ie uninterrupted) work environments are several times more productive than those who don’t.

To measure the Flow State Percentage, you need to ask workers to track for a few days how many hours each day are they in flow, divided by the number of total hours they’re at the office. And then brainstorm ways the team can move this number up. For example: a sign at each person’s desk that says “Please don't interrupt me, I’m in flow.” Or maybe you have periods where one person fields all calls. Or agree that for half a day, everyone turns off Outlook.

The modern disease of low attention spans is only made worse by smartphones picking up email. So why not just turn it off, and pick up email every 3-4 hours ? You'll feel less pressure, and suddenly you'll have more time to get things done.

Go on, just try it. Turn off your email, I dare you...

Motivating management

Money is a hygiene factor: get it wrong, and your employees can never get it off their minds. But once their money's about right, it ceases to be a motivator...so what is ?

Feedback, feedback, feedback, all the time. Tell people when you're pleased, in very specific terms. It's even more important to let them know when things aren't the way you want them. Remember the magic structure of feedback:

• What's working for me right now is...
• What's not working for me right now is....
• What's missing for me right now is...

Coach rather than direct: use the GROW model:

• Goals: Help them define them with questions: "How will you know the problem's solved ?"
• Reality: "Where are we now ? Who, what, when, how - how can you measure it ?"
• Options: "What choices do you have ? What if constraints were removed ? How will you weight up the options and choose the right thing to do ?"
• Will: "What will you do, and when ? What could stop you ? How exactly will you know when you've succeeded ?"

Communicate on a very regular basis: Show everyone the numbers, share your strategy, let them know the issues you feel strongly about, ask them for input where you're less certain. Do this every quarter without fail, but update everyone at least every month. Make sure they see how their work contributes to the greater good, and how important it is they co-ordinate their work and continually communicate themselves. Tell the truth. Don't airbrush difficulty; share it - you'll be amazed how many of your team want things to be better too.

Enjoy yourself, and have fun. Company competitions, raffles, contests, Performer of the Quarter, Mistake of the Month, Best Quote of the Week awards all add to making things feel less like work.

I recently read an article where it recommended taking an employee to lunch once a week: not a bad shout, this. They get a hour or two of uninterrupted time with you, and you get chance to relax a little for an hour.

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Today's selling hint

Today, when you’re tempted to say something in a meeting or phone call, bite your tongue.

Think: would it be better phrased as a question ?

So for example, rather than saying “this service achieves xyz benefit” you could say “given that this service typically delivers xyz benefit, what would that mean for your organisation ?”

Much more powerful behaviour: it means your prospect will be selling your services to themselves. And it means you talk less (....always a good thing :-) and you've earned the time to think about your next question, and move closer to close

You know it makes sense.

How to handle media interviews

It's been a while since I did live TV, but I still remember how surprised I was that they don't give you advance warning of the questions you'll be asked. If you have to deal with papers, radio or TV, it'll be the same: "30 seconds Mr. Sidwell....then 5-4-3-2-1 and you're live !"

So here are the rules of engagement.

1 Understand that journalists are focussed on the story: they don't care about you. It's taken you a lifetime to build up your reputation, and an unguarded public statement can destroy it in seconds.

2 Don't, whatever you do, answer the journalist's questions ! No, no, no. You're being interviewed, right ? So you decide what's said, don't you ? So before you start, think carefully of the 3 main points you want to make. Ideally they will be based on strong facts, benefits, good news, etc. The really good news. Write down the key words for the 3 points, and either sellotape them under the camera lens or write them on your cuff. Now, this is really important: whatever question you're asked, pick the point that most nearly answers it, and spin it as the answer. Then when question two comes, you have two answers to choose from. And yes, question three gets the final remaining message. If there are further questions, don't go off piste: choose the most appropriate of your three points, and repeat it, just changing the words slightly. Only give the answers you want to give.

3 Never, never, ever, say yes in an interview. If you say yes, you'll find the journalists take their ambiguous, multi-dimensional question, rephrased and reinterpreted as if you'd said it. In interviews, whatever the journalist says, even if you 100% agree with it, always say No. Even if you then say exactly the same thing in your own words.

4 Be very careful with your choice of words, particularly if you're handling a difficult situation. Issue, situation, position are all excellent words - even if they're quoted out of context they're not interesting enough to be news. You can acknowledge the seriousness of the situation, and fully understand people's concerns blah blah blah. But do not use words like problem, worry, concern, or broken: they make wonderfully attention grabbing headlines and invite only more questions.

5 It's best not to go off record.Yes, sometimes, it helps no end if you can explain something tricky off the record, before going on the record once the journo understands. But in reality, it's best not to do this: if it's juicy enough, they'll find some other way of corroborating your private explanation, and you're sunk just as surely as if you'd blurted it out in a bar.

6 At all times stay icy calm, and don't get into an argument. You can say: "No, that's not the way I see it and then explain your point of view (see point 2 above). But don't argue. Keep in mind the old advice warning of the dangers of arguing with a pig: you'll both get dirty, but the pig likes it.

7 If your back is really against the wall, be silent. Don't say No comment, or respond in any way. Shut the door, walk away, look down, show no emotion, be completely passive: don't give them anything to hang a story on.

Be careful out there.....

Seven Personality Traits of Top Salespeople

A recent article in the Harvard Business Review published the results of research into the personality differences between top and average performing salespeople. The top performers had the following personality attributes:.

1. Modesty. Contrary to conventional stereotype of salespeople as pushy and egotistical, 91% of top salespeople had medium to high scores of modesty and humility. Results suggested that ostentatious salespeople who are full of bravado alienate far more customers than they win over.

Selling Style Impact: Team Orientation. As opposed to establishing themselves as the focal point of the purchase decision, top salespeople position the team (presales technical engineers, consulting, and management) that will help them win the account as the centrepiece.

2. Conscientiousness. 85% of top salespeople had high levels of conscientiousness, responsibility and reliability, with a strong sense of duty. They take their jobs very seriously and feel deeply responsible for the results.

Selling Style Impact: Account Control. The worst position for salespeople to be in is to have relinquished account control and to be operating at the direction of the customer, or worse yet, a competitor. Conversely, top salespeople take command of the sales cycle process in order to control their own destiny.

3. Achievement Orientation. 84% of the top performers tested scored very high in achievement orientation. They are fixated on achieving goals and continuously measure their performance in comparison to their goals.

Selling Style Impact: Political Orientation. During sales cycles, top sales, performers seek to understand the politics of customer decision-making. Their goal orientation instinctively drives them to meet with key decision-makers. They focus on the people they are selling to, and how the products they're selling fit into the organization, rather than the functionality of the products themselves.

4. Curiosity. Curiosity can be described as a person's hunger for knowledge and information. 82% of top salespeople scored extremely high curiosity levels. Top salespeople are naturally more curious than their lesser performing counterparts.

Selling Style Impact: Inquisitiveness. They ask customers difficult and uncomfortable questions in order to close gaps in information. Top salespeople want to know if they can win the business, and they want to know the truth as soon as possible.

5. Lack of Gregariousness. Top performers scored 30% lower in gregariousness (preference for being with people and friendliness) than below average performers.

Selling Style Impact: Dominance. The results indicate that overly friendly salespeople are too close to their customers and have difficulty establishing dominance, and their recommendations and advice are not followed.

6. Lack of Discouragement. 90% of successful salespeople were rarely discouraged and only occasionally sad. Less than 10% of top salespeople were classified as having high levels of discouragement and being frequently overwhelmed with sadness.

Selling Style Impact: Competitiveness. Top performers are able to handle emotional disappointments, bounce back from losses, and mentally prepare themselves for the next opportunity to compete.

7. Lack of Self-Consciousness. Over 95% of top performers were not easily embarrassed: they weren’t bashful or inhibited in their behaviours.

Selling Style Impact: Aggressiveness. Top salespeople are comfortable fighting for their cause and are not afraid of rankling customers in the process. They are action-oriented and unafraid to call high in their accounts or courageously cold call new prospects.