Debbie’s Financial Workshop Insights

Financial management? Scary stuff. 

But understanding the intricacies of financial management is a necessity. So that’s why we invited the amazing finance powerhouse Debbie Corrie to host one of our FIM Workshops.

Debbie has guided businesses through smooth and rough waters over her career, (including the pandemic) and she’s dedicated to providing fiscal education to as many as will hear her message. Her published work, “Loving Failure: Getting Control of Your Business Health,” shows her dedication to offering practical finance management tactics.

The workshop Debbie gave called “Owning Your P&L” delivered a comprehensive look at many topics, but the most noteworthy are:

• Managing your Profit and Loss (P&L) statements
• COGS, Pricing, and Profitability
• Healthy Teams, Healthy Books

So let’s jump in!

Financial Navigation and Growth Strategies

Navigating your company’s finances is crucial for steering your company towards profitability and growth. 

“A Profit and Loss (P&L) statement is more than a financial summary—it’s the story of your business’s fiscal path.” 

This brief but powerful document should play a pivotal role in decision-making as it highlights income, costs, and earnings.  Careful examination of a P&L statement should enable leadership teams to identify inefficiencies, monitor economic health, and develop strategies that will ensure success.

One of Debbie’s more interesting concepts is to look at your P&L and embrace a ‘preparation for sale’ mentality. Basically, running your company like you’re planning on selling it, even if you’re not. 

This approach focuses on the critical factors that define what a successful business really is. Factors like profitability, optimized operations, and peak performance in every department. 

Because when you’re “preparing” to present your company for sale, you’ll be more careful to cross all the T’s and dot all the I’s and that alone will contribute to what’s really important. 

Cost Management and Price Selection

Accurate Calculation of Production Expenditures

Key to any company’s financial success is a clear understanding of production costs. Typically called the cost of goods sold (COGS), these are the direct expenses involved in creating your products that are offered to your consumers. 

It’s pivotal for businesses to accurately compute these costs to assess their gross margin accurately. An inaccurate calculation of your COGS will quickly send your business down a very undesirable path. 

The more detailed you are in your COGS breakdown, the easier it is to pinpoint any areas of excess spending and operational inefficiencies.

Any basic COGS breakdown should include details about your:

• Materials: The raw elements utilized in product creation.
• Labor: The man-hours dedicated to goods production.
• Overheads: Indirect costs such as utilities and rent.

Meticulously evaluate these details. It can be tedious but do it anyway. The progress and longevity of your company depend on it. 

Establishing Effective Pricing Mechanisms

Understanding your COGS paves the path for establishing effective pricing strategies which directly influences your company’s profitability and market positioning. 

Dynamic pricing practices must reflect various factors, including market dynamics, consumer demands, and competitive actions. The focus should always be on offering value to your customers rather than competing solely on cost. The race to the bottom is not pretty. 

• Value-Based Pricing: Setting prices that customers perceive as reflecting the value of the product or service.
• Market-Responsive Pricing: Flexible pricing that adapts to external economic conditions.

Do your research and select the option that works best in your company. If done correctly, this approach to pricing enables you to build a solid brand and retain substantial profit margins.

Upholding Profitable Margins

The ultimate goal of mastering cost and pricing structures is to ensure you have favorable profit margins. All the indicators we’ve discussed so far will reflect the company’s economic well-being and operational effectiveness, but keep this in mind: markets change and life continues moving so it’s important to reassess pricing policies to ensure your COGS remain in line with fluctuations in the market and customer trends.

Increasing Your Financial Health by Working With Your Team 

Debbie concluded the workshop by discussing perhaps the most important factor of all: financial success through successful teams. Fostering strong teams and strong values throughout the company will significantly impact your financial performance.

The Significance of a Committed Team

It’s important to recognize that a committed team extends far beyond just being happy doing their basic job. Employees who are fully committed not only display a vested interest in their roles but also generate added value for the company. 

Commitment like this is a strong catalyst for increased productivity, superior quality, and improved service levels. Exceptional employees often lead to higher customer satisfaction and loyalty. And we all know that happy customers are return customers. 

Additionally, teams with high levels of engagement typically generate new ideas and approaches that can build and strengthen your business. When they are comfortable in their working environment, they will be able to create and grow under your leadership.

Aligning Individual Goals with Company Goals

Individual goals mean nothing if they don’t point toward larger company goals. And company goals go nowhere if there isn’t a team working toward them. 

To bring the two in sync, Debbie suggests using the following few practices: 

• Open Dialogue: Keep your employees informed about the company’s goals, challenges, and achievements. They will feel a greater sense of belonging and accountability when they know what’s going on.
  
• Participation in Decision Making: Ask for input from ALL team members. There’s no greater way to empower your teams when they know they’re involved.
  
• Appreciation and Incentives: This can be a slippery slope if done incorrectly but acknowledging and rewarding efforts can significantly motivate everyone. Be sure to do a lot of research before implementing a program.
  

Consistent Support: Provide continuous performance feedback, as opposed to yearly evaluations. This helps keep everyone aligned with their goals and promptly addresses any issues that may come up.

Sum it Up

Debbie is a true master of finances but the most noteworthy part of the workshop she gave is that she truly understands and teaches what’s most important.

Profitability and efficiency is a numbers game, no doubt about it. But more importantly, it’s a people game. No matter what your P&L looks like, no matter how detailed and amazing your finances may be, the critical key to the entire equation is your people.

In your constant drive for profit, make sure to keep an eye on your P&L, manage your costs and pricing, and remember that you work with real people. Treat them well and you’ll see profits.

The post Navigating your P&L with Debbie’s Expert Guidance appeared first on FIM.

If you think New Year’s resolutions are stupid, you’re not alone. Millions of people think waiting for a new year to make life changes is super lame. (Except for gym owners. They love them!) 

But here we are, at the beginning of 2024 and regardless of what you think, it’s the perfect time to shake off the old and get a fresh start. 

Check out our quick list of 5 New Year’s Resolutions for Integrators. And whether you like it or not, adopting these 5 goals into your year will undoubtedly give you the traction and momentum you’re looking for.

Resolution 1: Find the True Root of All Issues

Your ability to pinpoint underlying causes of problems is critical as an Integrator. It’s your superpower. This year, make it a resolution to dive deeper into your issues list to find the root causes of your issues rather than just the symptoms.

Pro Tips:

• Start every L10 meeting with a determination to be extra thorough. Prioritize recurring issues that seem to never get 100% solved.
• While IDS-ing your issues, use the 5 Whys technique to peel back the layers:
  1. Identify an issue from your list.
  2. Ask why it’s happening and document the answer.
  3. Continue asking why for each response given until the absolute root cause is found.

Remember, your objective is to solve an issue once and never see it pop up again. Is this realistic? Maybe not, but focusing on discovering the root of issues is much more effective than constantly solving symptoms. 

Resolution 2: Run the Absolute Best Annual Planning Session This World Has Ever Seen!

Annual planning sessions can be tough but they’re absolutely critical for the success of your company. Consider these few steps to ensure this year’s session is the best you’ve ever run.  

Before the Session:

• Preparation: Ensure that all data and necessary reports are ready. You should be intimately familiar with the numbers already but make sure they are presented in a way that everyone present can interpret the data easily. There’s no time to waste explaining what the numbers mean.
• Set Clear Objectives: Annuals should begin with the end in mind. Ask what the expectations of the meeting are and make sure they are specific. 

During the Session:

• Review Last Year: Take a candid look at the previous year’s objectives and outcomes. Discuss what worked, what didn’t, and the learned lessons.
• Be fierce about avoiding tangents: Annual meetings are 1-2 days of intense planning and vigorous debate. You don’t have time for tangents. They will come up so squash them as soon as they show their face.
• Have an issue? Say It!: No issue is safe in an Annual meeting. Bring EVERY challenge to the table, no matter how small. List them systematically and prioritize their resolutions based on their severity and impact on company objectives.

Post-Session:

• Action Items: Rocks, Goals, To-dos; a LOT of items result from an Annual session. Make sure assignments are crystal clear and that everyone knows who is accountable for what. Doing so will create momentum and your company will gain essential traction throughout the year.

Resolution 3: Delegate – Just do it already.

Delegate like your job depends on it… because it does!

Delegating enables you to free up time for yourself to focus on higher-level strategies that drive your business forward. It pulls you OUT of the business so you can work ON the business. 

Simple Delegations Steps:

1. Start by evaluating tasks that you are currently handling
2. Identify which of these could be handed off to someone else 
3. HAND THEM OFF!

When you let go of the vine, you empower your team and remove yourself as a bottleneck. Removing yourself allows for a smoother flow of operations.

What’s next?

Ensure that there are clear metrics and deadlines in place because this is what drives accountability. 

Each delegated task should have:

• Clear expectations
• Deadlines
• KPIs to measure success

Remember, the goal of delegation isn’t just to offload tasks, but to build a capable team that can grow your business even in your absence.

Resolution 4: Make Extra Effort to Better Align with Your Visionary

As an Integrator, it’s critical that you’re in sync with your Visionary. This synergy drives the company forward with clear strategy and purpose.

Schedule Consistent Same Page Meetings:

Dedicate time for regular one-on-one meetings with your Visionary. These are critical touchpoints to share insights, address concerns, and brainstorm strategically.

There’s no picture perfect way to have a same page meeting because every Integrator and Visionary are different. Three things are required though: 

1. The frequency must be consistent
2. An agenda must be set 
3. There must be action items and followup. 

Without these three things, it’s just a scheduled hangout. Don’t be that V/I duo. Get on the same page and get sh*t done!

Resolution 5: Be Ok with New Things – Embrace the Change

Like it or not, embracing change is a pivotal aspect of leadership development. It’s critical to try new things if you’re going to drive innovation and progression within your company. Give these 2 things a go this year:

• Be Open to Experimentation: Start the new year by adopting a mindset that views every opportunity as a potential learning experience.
  
• Adopt a Growth Mindset: Understand that failure is not the opposite of success, it’s a part of it. Don’t be afraid to fail! Use setbacks as stepping stones to greater achievements.
  

Remember, you are the pace-setter for your team. Your willingness to embrace change and venture into uncharted territory can inspire others to follow suit. This year, view each challenge not as an obstacle but as an avenue to refine your strategy and further your leadership skills.

Wrap It Up

Like it or not, these are pretty good resolutions for every Integrator! But if you want to try them out, don’t just dip your toe in to test them out. Jump in with both feet, all the way. Decide to set the goal and then go for it, 100%!

Make changes. Set goals. Be Bold and make 2024 a pivotal year for your personal life and career!

The post 5 New Year’s Resolutions Every Integrator Needs appeared first on FIM.

We know you’re passionate about leadership and getting sh*t done and that’s exactly why we’re here. At FIM, you’re surrounded by like-minded female leaders who understand the value of leaning on each other to rise higher.

Our support system isn’t by accident. As a FIM member, you gain access to 4 key ways to connect with the community. They’re called our Core 4 Benefits.

Opportunities for Daily Connection, Monthly Development, Quarterly Forums, and Annual In-person events are what sets FIM apart from other organizations. It’s how we uplift, empower, and have your back every step of the way.

Find out how to become a member of FIM here. But if you’re not sure yet? Keep reading!

Daily Connection

Daily Connection is the lifeblood of our group. It’s where we bond, share our challenges, successes, and everything in between. By consistently supporting each other, we ensure that no one in our tribe falls through the cracks. Daily Connection is your chance to access our collective knowledge-base, making sure that as a team, we consistently crush our goals.

Staying Motivated

We believe that staying motivated to do what needs to be done is crucial for all leaders. Some days are just hard to get through. We get it. That’s why daily connection with our community allows us to stay fired up and inspired to get sh*t done. 

Not only do our daily connections help us stay motivated, but they also provide a safe space for discussing our challenges. It’s a place to be open to one another and to be vulnerable. 

Sharing Knowledge

In our Integrator group, we understand the value of adding tools to our toolbox and sharing our skills with our fellow members. By learning together, we grow not only as individuals but as a group of total badass women who show up for one another and make a difference.

By participating in FIM, you’ll not only gain valuable connections but you’ll also be a member of a robust support system that will fuel your growth as a leader. 

Monthly Development

Monthly Development keeps us sharp and excited to tackle the obstacles we face. Highly-focused monthly training sessions, mentorship, and workshops strengthen our skills as leaders and equip us with the tools to inspire change in our organizations.

Skill Building

We’re all about leveling up our skills at FIM! Each month, we focus on specific topics that will empower us to grow as leaders. By investing time into our monthly development sessions, we’re able to deepen our expertise and stay aligned with current trends in our respective fields. These monthly sessions are fun, interactive, and incredibly valuable to our personal and professional growth.

Quarterly Forums

Our Quarterly Forums are where the magic happens. These informative and engaging events bring together badass women from diverse backgrounds and industries. They’re an opportunity to discuss hot topics, share personal experiences, and to get motivated for whatever challenge you face.

Diverse Perspectives

Each quarter, we come together to engage in thought-provoking conversations, and guess what? No topic is off-limits! This is our chance to learn from each other’s unique experiences and grow together as a powerful network of driven women.

We understand the value of meaningful discussions that can help us step out of our comfort zones and discover new ways of thinking. Sharing our personal journeys and the challenges we’ve faced brings us closer together and strengthens our collective resolve. After all, we’re a group of unstoppable women who are passionate about making a difference in the world!

Real-Life Problem Solving

The business world isn’t always smooth sailing. That’s why our quarterly forums are dedicated to tackling real-life problems and finding practical solutions that work for us. We dive headfirst into the issues that YOU bring to the table. Relevant topics like balancing work and home life, dealing with difficult team members, and navigating the tricky Integrator/Visionary relationship.Each quarterly forum is an opportunity for us to put our heads together and brainstorm ways to handle whatever challenges we’re facing. But remember, we’re not just here to talk about our issues. Just like every L10, we’re here to solve them once and for all.

Annual In-Person Event

Finally, gear up for the Annual In-person event. It’s the cherry on top of our integrator group experience. These events are carefully planned to provide you with access to powerful speakers, interactive workshops, and ample networking opportunities. It’s the only place to experience an event for Integrators that was planned by Integrators. 

Networking at its Best

During our annual in-person events, we have the chance to let our hair down and really get to know our fellow FIMers. But it’s more than just networking; it’s a time for us to share stories, experiences, and ideas for the future. We laugh together, cry together, and motivate each other to continue pushing the boundaries of what’s possible in our professional lives. And often, these connections last beyond the event, becoming lifelong friendships that empower us throughout our lives.

Celebrating Successes

Our annual in-person events also provide the perfect opportunity for us to celebrate our successes, both individually and as a group. We take the time to acknowledge and appreciate the hard work, dedication, and achievements of our fellow Integrators. It’s an essential part of maintaining our collective momentum and keeping our spirits high. 

Wrap it Up

ottom line, become a member of FIM!

The camaraderie, support, and understanding we have among ourselves is second to none. As a strong female leader in this busy business world, we need to bond together and lift each other. And when we lift each other, we lift ourselves. Find out how to become a member of FIM here.

The post <strong>What FIM’s Core 4 Means for You</strong> appeared first on FIM.

You’re probably pumped to get to FIM Summit this year because of all the unstoppable badassery. Right? Thought so. But maybe you’re a little unsure of what Omaha has to offer. 

Listen, we’ve heard your questions and have seen you scratch your head while you googled “stuff to do in Omaha.” You don’t need to go that route. We’ll save you the trouble. 

Here’s a quick guide to some other things to do other than attending the FIM Summit and hanging out with your fellow FIMers. So grab adventure with both hands and get to Omaha for a new experience!

(And if you haven’t registered yet, go here to get that off your to-do list.)

The Old Market

This lively district is lined with cobblestone streets and features boutiques, art galleries, and antique shops. The historic architecture in The Old Market creates the perfect atmosphere for relaxing and spending some downtime when not at summit.

The Old Market’s historic buildings also include loads of restaurants, bars, and cafés. From fine dining to casual eateries, this area has it all! 

Joslyn Castle

Another historic gem in Omaha is the Joslyn Castle. It’s a stunning 35-room, Scottish-style mansion built in the early 1900s. It’s set on a 5.5-acre estate that’s packed with gorgeous gardens and perfectly preserved rooms.  This historic site is a captivating spot to explore while taking a quick break… a quick clarity break!

The Durham Museum

It’s a museum in an old train station. Crazy! Located in Omaha’s beautifully restored Union Station, The Durham Museum takes you back in time where you’ll find magnificent passenger trains from the 1940s and ’50s. You’ll also learn about the local and regional history through the engaging exhibits and interactive experiences. It’s a must-visit attraction for all history buffs.

Lauritzen Gardens

Lauritzen Gardens is a stunning botanical garden that provides a tranquil and serene experience. We know it’ll be November when you’re there for summit, but a stroll on some of the garden paths may be just what you need to let all your newly learned FIMformation sink in! 

The garden spans over 100 acres and has various themed areas including a rose garden, a woodland trail, and a model railroad garden. If you need a quiet retreat, this is the place.

Culinary Experience Omaha

Distance from hotel – It varies

If you’re looking for a truly unique experience, consider dining at one of Omaha’s eccentric culinary establishments. There are monastery-inspired steakhouses and horror-themed pubs, and everything in between. Our recommendation, check out the Durham Museum’s Soda Fountain and Candy Shop. It’s old school, and perfect!

Wrap It Up

While FIM Summit IS the main attraction, take on something new and fun! Jump in with both feet and immerse yourself in new culture, new food, and all things FIM! Grab your summit tickets here and go experience Omaha!

The post <strong>FIM Summit and….. 5 Other Things to Do in Omaha</strong> appeared first on FIM.

The holidays are a time when many leaders find themselves scrambling simultaneously to meet year-end business goals and punctuate the season with their staffs. Too frequently, the stress overtakes the joy, and gifts become another obligatory to-do on a never-ending list.

But what employees really want doesn’t come in a box or require a bow. And it’s certainly not restricted to December. What employees wish for are the special GIFTs that leaders can offer all year long.

Gratitude

Over the past 20+ years in the leadership development arena, I’ve never met a person who said they received too much recognition. But I’ve met many who report getting woefully too little. Positive feedback is one of the most cost-effective actions a leader can take to elevate morale, engagement and performance. Catching others doing something well grows that behavior. It also shines a spotlight for the rest of the team on what you value, thus magnifying the message.

Expressing appreciation costs literally nothing except some genuine attention to those around you. And, like any other skill, the more you practice it, the more natural it becomes. So, get a start this holiday season. By this time next year, it will be a habit that you don’t even notice, but your team definitely will!

Inspiration

Today’s employees crave leaders they can look up to. They always have. However, given ongoing reports of inappropriate behavior in the workplace, people are more desperate than ever to surround themselves with those whom they can trust and admire.

A young professional who attended a workshop not long ago shared that he had recently changed jobs — not for more money (actually a bit less) or benefits. His decision turned exclusively on his supervisor. He shared stories of erratic and unethical behavior on the part of his previous boss. And he contrasted that with his experience of his new leader, whom he described as smart, strategic, trustworthy and transparent.

Leaders who inspire others through their actions are high performers themselves, and they attract highly driven high performers to them and their teams, creating a “gift” that just keeps giving.

Flexibility

Research confirms what you likely already know from experience: Employees across the generational spectrum want even greater levels of flexibility.

According to EY, “After competitive pay and benefits, the top things employees say are very important in a potential job are: ‘being able to work flexibly and still be on track for promotion’ which was tied at 74% with ‘working with colleagues, including my boss, who support my efforts to work flexibly.’ Other flex perks full-time employees seek are: the ability to work flexibly informally when needed, receiving paid parental leave and not working excessive overtime,” the EY study says.

This year has placed greater pressure on employees. Work-life balance is a goal that eludes too many workers. Flexibility is one strategy for bringing a balance closer to reality. And while additional  flexibility might be particularly necessary during the holiday season, it’s a “gift” that’s appreciated anytime.

Time

Despite the ability to be in constant 24/7 contact with others, we as a society are starving for the authentic human connection that only time and attention can deliver. Time feels like it’s in such short supply for many of us. So, when a leader is willing to invest this precious commodity, it sends a signal. It communicates, “I value you. You’re significant.” And in today’s increasingly depersonalized world, this forges powerful relationships, builds confidence, and offers the gift of human connection – even virtually.

So, this holiday season, make a commitment to giving the gifts of gratitude, inspiration, flexibility and time, and you’ll have plenty to celebrate all year long.

Originally published on SmartBrief

The post Holidays aren’t the only time for leadership GIFTs appeared first on FIM.

Dan Rose, Content Creator at SkillPath

Jan 8, 2021

The post Coaching and Mentoring Employees Is More Critical Than Ever appeared first on FIM.

There’s a lot of information out there about self-care, and it’s a complex topic that only makes things more confusing. All you know is that you need to take care of yourself, but you’re not sure what that should look like.

I have a simple solution to avoid overwhelm: look at self-care in terms of seven pillars. Seven might sound like a lot, but once you know them, you can better recognize what needs work in your life instead of trying to do everything. Plus you’ll find a self-care quiz at the bottom of this post to help you figure out which type of self-care you need right now!

Overview Of The Pillars

The seven pillars of self-care work together to bring a sense of wholeness to your life. I previously wrote about the five dimensions of self-care in this post, but I’ve added two other elements because I felt like they were missing from the original list: recreational and environmental.

The pillars of self-care:

1. Mental
2. Emotional
3. Physical
4. Environmental
5. Spiritual
6. Recreational
7. Social

How to use them:

Seeing this list might feel overwhelming. You might think you have to find some kind of perfect balance between them all. You don’t need to focus on finding a perfect balance between them all. Instead, you might need to focus on one area for a day, a week, maybe even a month. When you’re ready, you can focus on others.

What’s most important is noticing which one area needs attention so that it doesn’t start dragging the other areas down with it. Let’s explore the pillars of self-care in more detail:

The 7 Pillars Of Self-Care

1. Mental Self-Care

Mental/intellectual self-care is about cultivating a healthy mindset through mindfulness and curiosity. Mental self-care is important for developing a healthy mindset, growing your skills, reducing stress, and enhancing your knowledge and creativity.

Examples of mental self-care:

• Meditating
• Writing in a journal
• Engaging your brain in a new way
• Writing a brain dump list (here’s how to do that)
• Taking an intentional break away from technology/internet

2. Emotional Self-Care

Emotional self-care involves taking care of matters of the heart with healthy coping strategies and self-compassion. Tapping into emotional self-care helps you understand yourself more, better deal with challenges and setbacks, and develop healthy emotional responses.

Examples of emotional self-care:

• Watching a deep movie
• Listening to your favorite songs
• Writing down positive affirmations
• Asking for help when you need it
• Setting boundaries to protect your time and energy

3. Physical Self-Care

Physical self-care involves taking care of your body with exercise, nutrition, good hygiene, and proper sleep. When you practice activities for your physical well-being, you can increase your energy levels and boost your self-esteem.

Examples of physical self-care:

• Eating meals at regular times (breakfast, lunch, and dinner)
• Drinking more water
• Taking vitamins daily
• Getting 7-8 hours of sleep
• Trying a new workout class or video (here’s a playlist)

4. Environmental Self-Care

Environmental self-care involves taking care of the spaces and places around you. The more you take care of your immediate environment, the more it will help you to thrive and feel a sense of belonging where you are.

Examples of environmental self-care:

• Arranging your workspace to be more comfortable
• Exploring somewhere new (even if it’s in your own town)
• Decluttering your living space
• Going outside for a walk
• Appealing to your five senses (e.g. light a candle, adjust the lighting, put on comfortable clothes, sip a warm drink, and put on your favorite playlist)

5. Spiritual Self-Care

Spiritual self-care involves taking care of your soul through activities or practices that provide a sense of purpose, direction, or meaning to your life. Dedicating time to spiritual self-care can help you find more meaning in life, feel more grounded, and develop a sense of belonging in life.

Examples of spiritual self-care:

• Spending time in nature
• Finding a community to contribute to (online or offline)
• Identifying your values & what’s meaningful to you
• Volunteering or contributing to a cause you believe in
• Connecting to a higher power (whatever that means to you)

6. Recreational Self-Care

Recreational self-care involves taking care of your inner child with hobbies, fun activities, and new experiences. Recreation is important because it lets you get away from the pressure of your to-do list and simply enjoy the pleasures that life has to offer.

Examples of recreational self-care:

• Taking time for hobbies and creative activities
• Going on an adventure by yourself or with others
• Taking time to do absolutely nothing (and enjoying it!)
• Playing board or video games
• Switching up your regular daily routine

7. Social Self-Care

Even though self-care is about you, it’s important to connect with other human beings on a regular basis. Social self-care means cultivating healthy relationships and connecting with people who get you. Seeking out positive social connections helps us create a sense of belonging and acceptance.

Examples of social self-care:

• Spending time with people whose company you enjoy
• Calling or seeing your relatives
• Writing a letter to a friend (pen-pal style!)
• Talking to a support group
• Chatting in an online forum or community

Which pillar do you need to focus on? Take the self-care quiz!

If you’re not sure which pillar of self-care you need most, take the self-care quiz to find out what to focus on first.

My hope is that this quiz will become a tool you use whenever you feel indecisive or unsure of the type of self-care you need. Come back to it whenever you need it!

Take this quiz here. Feel free to let me know your results in a comment below!

The post THE 7 PILLARS OF SELF-CARE AND HOW TO USE THEM appeared first on FIM.

1. Get clear about how you intend to help
Take a moment to think through the reason why you plan to deliver the feedback. If you are clear in your own mind about how your feedback will be helpful, it will come across to the other person naturally. But if you don’t understand why your feedback is helpful, how will the person receive it?

2. State your intention to be helpful
Perhaps the simplest advice I have to give here is for you to tell the person that you are trying to be helpful. Try a little preamble for hard criticism. For example, try saying, in words that feel like you, “I’m going to tell you something because if I were in your shoes I’d want to know so I could fix it.” Simply exposing your intent to be helpful offers clarity to the other person about your intentions. Most people will want to hear whatever it is you’re going to say.

3. Show, don’t tell
This is the best advice I’ve ever gotten for writing good fiction—but it also applies to feedback. The more clearly you show what is good or bad, the more helpful your feedback will be. Often you’ll be tempted not to describe the details because they are so painful. You want to spare the person the pain and yourself the awkwardness of uttering the words out loud. But retreating to abstractions is a form of Ruinous Empathy.

Being precise can feel awkward. For example, I once had to say, “When we were in that meeting and you passed a note to Catherine that said ‘Check out Elliot picking his nose–I think he just nicked his brain,’ Elliot wound up seeing it.

It pissed him off unnecessarily, made it harder for you to work together, and was the single biggest contributing factor to our being late on this project.” It was tempting just to say, “Your note was childish and obnoxious.”

But that wouldn’t have been clear or helpful feedback. The same principle goes for praise. Don’t say, “She is really smart.” Say, “She can do the New York Times crossword puzzle faster than Bill Clinton,” or “She just solved a problem that no mathematician in history has ever been able to solve,” or “She just gave the clearest explanation I’ve ever heard of why users don’t like that feature.”

By showing rather than telling what was good or what was bad, you are helping a person to do more of what’s good and less of what’s bad, and to see the difference.

Important note: if you are getting feedback, and somebody fails to give you a specific example, don’t demand that they come up with one. That will make them feel cross-questioned and reluctant to give you feedback next time.

Instead, say, “So what I hear you saying is that when I do X, Y happens. Is that right?” Then, try to think of a specific example yourself. Don’t worry if you can’t think of one on the spot. Think of it later. When you do, tell the person and ask, “Is that an example of what you mean?”

4. Finding help is better than offering it yourself
You’re not always the best person to give help, and it isn’t possible for you to offer help yourself every time you give feedback. If you put too much of a burden on yourself to fix every problem you see personally, you will stop bringing problems up.

But, you often can do something quickly that will help. When Sheryl offered to get me a speaking coach, she did have to get a budget for it, but she didn’t have to sit there watching me practice presentations for hours. It took some of her time, but not too much.

When Scott Sheffer, who worked for me at Google, was struggling with a strategic problem, it was clear he needed a great thought partner. Scott was one of the most strategic people I knew, and understood the business better than I did. I wasn’t the right person to help him. He needed to talk to somebody who’d seen the problem a hundred times before, somebody with decades more experience than either he or I had.

The person he most longed to talk to was Bill Campbell, the legendary Silicon Valley coach. I knew the thing I could do that would be most helpful was not to try to spend hours helping him think through the problem, but to spend twenty minutes getting him some time with Bill. That’s what I did.

5. Feedback is a gift, not a whip or a carrot
Helpful feedback took me a long time to learn that sometimes the only help I had to offer was the feedback itself. Adopting the mindset that feedback is a gift will ensure your feedback is helpful even when you can’t offer actual help. Don’t let the fact that you can’t offer actual help make you reluctant to offer feedback.

Think about times that feedback has been most helpful to you, and offer it in that spirit. If you can’t think your own story, recall how helpful it was for me when Sheryl told me I sounded stupid when I said “um” every third word.

Don’t let the fact that you can’t offer actual help make you reluctant to offer feedback.

6. Share the context
A great way to offer praise that is helpful is to share the context so that everyone understands why the work was important, and what the impact was. Putting the work into a broader context is generally something a boss can do better than anyone else. Often, people who do the work don’t even realize the impact it has.

For example, Sarah Teng, a woman on the AdSense team came up with the idea of buying programmable keypads for the whole team. This simple idea increased the whole team’s efficiency by 20%. This meant that everyone on the team had to spend 20% less time on “grunt work” and had more time to come up with other ideas to improve efficiency — a virtuous cycle.

I wanted to explain this virtuous cycle to her and to the whole team. I wanted her to know just how great I thought what she did was. Often people are not actually aware of the positive impact they’ve had with their work, and letting them know helps move them in the right direction.

I said it in public for two reasons. One, and people often pay more attention to things said in public than in private, so I thought it would mean more to Sarah. Also, I wanted everyone else to speak up when they had ideas like that.

So when she presented her project to the team, I thanked her, and I also showed a graph of how this idea, and others like it, had improved our efficiency over time. I let the team know that she would have an opportunity to share her idea with leaders from AdWords, a much larger team, for an even larger impact.

I also shared an article from the Harvard Business Review showing how competitive advantage tends to come not from one great idea but the combination of hundreds of smaller ones. All of this context showed how important her idea was and inspired people who had other ideas like this to be vocal about them.

Need more help getting your team to practice giving helpful feedback to each other? Then you need The Feedback Loop (think Groundhog Day meets The Office), a 5-episode workplace comedy series starring David Alan Grier that brings to life Radical Candor’s simple framework for navigating candid conversations.

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Leaders and organizations struggle with accountability because they think that poor performance indicates a lack of accountability. That’s not true. Instead, accountability is the result of strong leadership and strong management.

Do an Accountability Self-Check

Are you frustrated with attempt after attempt at creating a culture of accountability? The root of the issue may be closer to home than you realize. Ask yourself if each person who reports to you would agree with the following statements:

Check-in for Leaders

• I am giving clear direction. You’ve shared a compelling vision, you’ve provided room to operate without smothering, and they know the cultural rules for success.
• I am providing the necessary tools. You’ve provided access to resources, training, technology, staff, and time to achieve the overall critical roles of their job.
• I am focused on my highest value. You’ve risked letting the right people do the important things that you need them to do, so that you can do what you do best.
• I act with the greater good in mind. You model what it means to take your ego out of your actions and decision making. You demonstrate a dedication to the vision by always putting the organization first.
• I am taking “Clarity Breaks.” You regularly take time to physically walk away from the day-to-day so that you can work “on the business.”

Check-in for Managers

• I keep expectations clear. You take the time to define their role AND your role, define the organization’s core values, 90-day outcomes and key measurables.
• I am communicating well. You listen, explain, and clarify how they’re feeling. You monitor your question-to-statement ratio with every interaction.
• I have the right meeting pulse. You have regular team meetings that clarify how each person performs. You share their leading and lagging indicators to keep you and them connected to common goals without smothering.
• I am having Quarterly Conversations. You let each individual team member know their five roles and responsibilities, how well they’re living up to each core value, and how well they’re doing on their 90-day outcomes.
• I am rewarding and recognizing. You give positive and negative feedback quickly, you criticize in private and praise in public. You’re their boss, not their buddy. You apply a three-strike rule for performance issues that need to be addressed.

Answer these Y/N statements from the perspective of ALL your direct reports. Think of each one individually. Even one No is a no for that statement.

Strong Leaders and Managers Create Strong Accountability

Accountability exists because of strong leadership and strong management. If you can truly answer yes to each of these statements and you still don’t have a culture of accountability, then your leadership team has some serious health issues that need to be addressed. Consider whether it’s time to bring in a Certified or Professional EOS Implementer.

The post 10 Tips for Better Accountability appeared first on FIM.

While there is much to be learned from a famous leader like Melinda Gates, there is inspiration in knowing about the leaders that walk among us.

Acknowledging their impact is critical to anchoring the power of strong leaders who may never write a book, or testify to Congress, or be interviewed by Oprah. Nonetheless, these elite leaders make a tremendous contribution to their teams, their companies, their communities, and their families.

Therefore, this is a tribute to five people that I have worked with, admire, and have learned from. They continue to lead, learn, guide, and inspire.

Resilience is a Habit: Lindy Bannister

“You are not born with a fixed amount of resilience. Like a muscle, you can build it up, draw on it when you need it. In that process you will figure out who you really are – and you just might become the very best version of yourself.” – Sheryl Sandberg, COO, Facebook

As I worked my way through business school while working at Albertsons, I met Lindy, who would become the first significant mentor of what has become a long and diverse career. In those days, Albertsons, Inc. was a powerhouse in the industry, led by a hand-picked successor by Joe Albertson himself.

We had lofty goals that we frequently achieved both individually and as a company. At the time, we averaged six-times the average profit of our competitors. In our location, we were our own family – operating for our individual, collective, and community success.

At the helm was Lindy. We could speak about operational excellence, team work, attitude, as well as what it was like in the 90’s for a woman to lead in a traditional male world. What is more informative however is Lindy’s habit of resilience.

At the time I had no idea what Stoic Philosophy was, but now understand that she led us with a mindset of controlling what we could control. We had no influence on weather that kept shoppers away or competitors that opened nearby. We could not change ineffective advertising or a tone-deaf district leader.

What we could do was make sure our store was stocked, staffed, and spotless. We could also make sure the family was well-treated. That core focus: be ready, be happy, be kind, and be hardworking no matter the external pressure, resulted in tremendous, repeatable success. It’s a lesson I’ve taken to different teams, geographies, and industries to great effect.

Pragmatism is Leadership: Ted Gaskamp

“We want to turn our inventory faster than our people.” – Jim Senegal, co-founder and former CEO Costco Wholesale

Ted and I first crossed paths working at USAA; I did not report to him, but often bypassed my own leader to seek Ted’s counsel. Strangely enough I did not realize that I was doing that until the third time Ted asked, ‘what does Mike have to say about this’? To me it was simply the most natural thing in the world to “ask Ted” as had become my mantra – because there was no reason to ask someone else who talked a lot, but said little.

When I relayed that to Ted, he chuckled – and a bond in pragmatism was born. Ted’s pragmatism drove him to lead with intention. When dropping by his desk, he stopped what he was doing to listen with full attention – to do otherwise would require the speaker to repeat themselves.

Though he often had ‘an answer’, he guided us to find it for ourselves, because he knew that if it was our idea, we’d take action. When one of us had a personal issue (i.e., death in the family, divorce, disappointment), Ted knew there was little he could do to fix that issue so he’d move his chair to work near us; he’d say, I don’t have an answer but I can sit here and show my support.

Ted taught me that leadership doesn’t have to be complicated; the pragmatic approach is tough in the sense that it requires attention, patience, prudence, and often listening. Yet it yields loyalty, trust, connection, and invariably, results.

Challenge is Growth: Terri Kallsen

“Listening to others with whom we disagree, tests our own ideas and beliefs. It forces us to recognize, with humility, that we don’t have a monopoly on the truth.” – Janet Yellen, Secretary of the Treasury of the United States

Several years into my career with USAA, Terri took the helm of our new Wealth Management division with a clear sense of direction.

Later I would hear her share a portion of her philosophy of that direction saying, “I hire, promote, and develop potential.” Her first challenge to me was when, in the most matter-of-fact voice, warmly smiled and declared, “Ken! I’m glad I ran into you. You’ll be one of our new media spokespeople. Expect an invitation for training that starts next week.”

Naturally I replied, Terri I’ve never done this before. She quickly smiled and said, “and now you will.” That challenge, the training alongside her, and the media interviews that became routine was exhilarating, nerve racking, and pushed me further, faster than I’d ever grown.

In addition to the obvious skill development, it also grew my confidence – the kind required to speak up with leaders, like Terri, that would come to rely on hearing my perspective. Terri taught me to have confidence in others, encourage them to thrive on skinny branches, and support them without condition. That environment is one where people take risks, grow, learn, and become strong leaders in their own right.

Perfection is Poison: Neesha Hathi

“You can’t have it all, all at once.” Justice Ruth Bader Ginsburg, United States Supreme Court

Arriving at Schwab to be part of the team that would come to develop, staff, launch, and grow a technologically advanced offer was incredibly exciting.

As Chief Digital Officer, Neesha led the innovative effort – no doubt an experience often akin to herding cats. My role was specific to building the teams of people that would deliver the service. Her digital team was rapidly building the vehicle my team would drive. Very early on she encouraged us to quickly get a version in front of real clients.

She gently yet firmly pushed hard against waiting for the perfect version before we went public. Her reason was simple. When teams delay a launch in the pursuit of perfection, they become highly invested in the output – making it difficult to implement feedback from clients. Rather she led us to iterate, learn from feedback, and constantly improve based on facts. She believed that a perfect vehicle no one wants is poison compared with the one they can’t wait to buy.

Neesha taught me that by establishing a safe space to create, evaluate, iterate, and recreate leads to better ideas becoming better solutions that real clients relate with.

Be Visible: Colleen McKenna

“Just because you are CEO, don’t think you have landed. You must continually increase your learning, the way you think, and the way you approach the organization. I’ve never forgotten that.” – Indra Nooyi, former Chair and CEO of PepsiCo

After launching my own coaching business I was seeking additional structure to grow my practice.

To that end I briefly affiliated with Vistage in the pursuit of advancing a peer-advisory group. Part of that journey introduced me to Colleen and her company, Intero Advisory as one of the resources to help us develop our local network.

From the outset we knew our core values were aligned. Her approach to building presence on LinkedIn was to be real, visible, and consistent. As with many platforms, there is sometimes a feast or famine approach to sharing information.

On Facebook that equate to either pictures of food at one of the spectrum or an incendiary political diatribe on the other. In the LinkedIn ecosphere a similar spectrum would be someone with a partial profile that rarely engages up to the other extreme of overly informal posts more appropriate for Facebook.

Colleen calls these extremes being invisible or being social. After she released her book, It’s Business, Not Social,  I had the opportunity to meet her entire team, profile them, and facilitate an effectiveness session. Everyone showed up, spoke up, and engaged in a real, professional conversation.

It was an amazing metaphor for what she espouses in having an engaging, professional, and REAL digital presence via LinkedIn. Colleen leads her company just as she coaches others on LinkedIn: that we can share who we are in a genuine, professional way to build lasting relationships whether in real time or in a digital space.

Conclusion

It can be easy to turn to well-known and well-publicized role-models. I encourage you to take a look at your own experience for the people that have made a positive impact in your own leadership development. Then let them know.

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