Common parlance says one thing that characterizes a good CEO is that he or she always has the right answer. Yet research indicates this is not always so. “Leading from good to great,” author Jim Collins says, “means having the humility to grasp the fact that you do not yet understand enough to have the answers.” In other words, sometimes it is best to admit, “I don’t know.”
I find that there are many saying this these days. From the real estate investor whose property values have dropped, to the contractor whose revenues have tanked, to the charitable organization whose donations are down, there is a heart-felt cry for understanding. I know the feeling – which is why I have given considerable thought about what to do when you just don’t have a clue.
I have come to the following conclusions:
1) Don’t quit. The temptation to give up is strongest when the leader and his company are at its weakest. Yet who knows when the next break-through comes? Will your business be there to take advantage of it? Not if you throw in the towel! For sure, there may be situations where you are forced to do something you don’t want to do; regardless, if you stay the course you can win – you can not win if you quit.
2) Ask questions. Collins goes on to say that great leaders don’t stop with an “I don’t know” response; they “ask the questions that will lead to the best possible insights.” The truth is that there are many who have successfully weathered the storms a lot of us face; if asked, most will lend a hearing ear and helpful advice.
3) Consider what has worked in the past. Too often when faced with difficulty, we throw the baby out with the bathwater. But just because some things don’t work in this economy does not mean that everything must go. Certainly there are things that have contributed positively to your firm in the past; take a look at them and employ those that will help move your company forward.
4) Get back to the basics. The best businesses are those that stay put with the essentials. Building and maintaining relationships, providing great customer service, and financial integrity are those things which, if practiced consistently, will help move your company over the hump.
5) Start something new. This may not pertain to everyone, but sometimes what is needed is doing something different. Maybe it’s a unique product or service offering, an innovative approach to the market, a new business model or a fresh logo. Whatever the case, companies that survive downturns like this one are often those that are willing to get out of the box and adapt to shifting customer needs and wants.
6) Pray. Most folks approach prayer like this: When all else fails, pray. My suggestion is to pray before all else fails. It is unfortunate that it often takes trouble to get us praying. Certainly, challenges will come, but it is better to be prepared for them through prayer than to be knocked off your feet and utter “Help!” on the way down. I have learned that the single most effective means of navigating my way through difficulty is to pray ahead of time, in the meantime, and all the time.
In conclusion, not knowing what to do – and being humble enough to admit it – can mark a great leader. Yet doing nothing can result in corporate death. A firm resolution to continue, a willingness to learn from others, and prayer are among those actions that will undoubtedly ensure a future for you and the enterprise you represent.
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It wasn’t long ago that I enjoyed lunch with a long-time customer and friend. He was undergoing cancer treatment at the time, and was doing quite well. He told me one thing that had come of his illness was a realization of the importance of faith and family. Those comments had an impact on me and have stayed with me ever since.
Among those qualities that make people great is the proper ordering of priorities. It is all about focus. Whether a thing is important to us or not is seen in the amount of time and energy we put into it. If we spend ourselves climbing thecorporate ladder, it is clear that being at the top counts. If playing golf is important to us, we’ll be sure to work it into our calendar. My point is that where our time is spent is a strong indicator of what is important to us.
My friend was a good man and well-respected in the community; sadly, he won his first go-around with cancer, but lost the second. In the interim, however, he came to grips with an issue that often eludes us. What really matters in life is not how big our businesses are or the size of our bank accounts, but our heart condition toward God and those closest to us.
I realize faith in God and the marketplace seem worlds apart for some, with little room for religion in the fray of day-to-day business. Not a few feel that way. Maybe my friend felt that way – until he was hit with a life-threatening disease. I have observed that regardless of your persuasion, faith becomes important at some point in your life. It may be the death of a loved one, an impossible situation at work, or simply a question as to life’s purpose. Whether it is embraced or allowed to pass is another issue; nevertheless, faith is not a stranger to most people.
Unlike faith, which relates to an unseen world, family is flesh and blood, and too often they are neglected in our race to achieve. Success provides little succor, however, in times of duress, and no P&L will comfort you when you most need it. Your family will.
I have been happily married 38 years now and am the proud father of five children. In my race to build a business, I was often gone and frequently worked late; and when things were not going my way it showed up in my demeanor at home. Though deeply committed to my family, I look back with some regret for not spending more time with the kids, and not being more emotionally present when with my wife. Those are days I can never get back. But what I can do is put ‘first things first’ today – intentionally placing my focus where it best belongs.
It is unfortunate that it often takes tragedy to put things in proper perspective. Maybe that’s one reason bad things happen to good people – like my long-time friend. I am glad he had the time to refocus his attention on what mattered most; what is really tragic is that many people don’t.
Years ago I heard something that has stuck with me ever since. The man I was listening to said, in no uncertain terms, “it’s either overcome, or be overcome.” In other words, you have two options in life: you either win or you lose; there is no ‘tie game.’
I teach John Maxwell’s 21 Irrefutable Laws of Leadership on a regular basis, one of which is The Law of Victory. This law says that “leaders find a way for the team to win.” Thus no matter your position in life, albeit husband, father, wife, mother, business owner or manager, team leader – you have some degree of influence, which Maxwell says is leadership. And your responsibility is to make sure you and those you are responsible for win.
“Victorious leaders,” Maxwell states, find the alternative to winning unacceptable, so they find out what needs to be done to achieve victory, and then they go after it with everything at their disposal.”
I have to admit that I have not always been of this mindset. In fact, I thought for the longest time that there was no way I could ensure winning, since there were so many variables outside my control. That’s until – not long ago – a trusted friend sat across the lunch table from me and said, “Terry, your business will take off once you change your thinking about it.”
Since that time I have come to understand that there are certain characteristics of an overcomer, some of which are as follows.
Relationship. If you stop and think for a moment, it’s all about relationship – who you know and who knows you. Not in a strictly sales sense, but in the sense of being in the context of others where there is the potential for encouragement and the exchange of ideas. No man is an island, and I don’t think you can win without others.
Tenacity. There’s a proverb that speaks of men who “may trip seven times, but they will get up again.” That to me is tenacity. You don’t give up. Even though you experience set-backs, you keep going.
Focus. The Wall Street Journal some years ago ran this little poem on their editorial page: “The bumper sticker in my view was clever, I admit it; as soon as I had read it through, I laughed so hard I hit it” (Dick Emmons). Moral of story: don’t get distracted from your central purpose.
Creativity. I am of the opinion that there is simply no way you can win in this current economic environment without coming up with new ways of doing things. Maxwell says “creativity is essential.”
Diligence. This is similar to tenacity but to me implies a determination, a pressing forward, a relentlessness. I picture a person with this quality forging ahead, nothing lagging. He has a mission and won’t rest until it is accomplished.
Process. We must understand that certain things take time. Short and long-term thinking is required if we are going to make it through. Overcoming is almost always a long term endeavor. If we are short-sighted and base our decisions on the immediate we’ll likely make the wrong choices.
Right thinking. There is another proverb that says, “as a man thinks in his heart, so is he.” In other words, in order to get it right in the marketplace you’ve got to get it right in your heart and your head. Your attitude is everything, and as a leader it will shape your entire organization. You’ve got to think, act, and carry yourself like a winner.
Right speaking. What we say has incredible power. The words that come out of our mouths will shape not only our enterprises, but the very course of our lives. Our choice of words is very, very important if we want to win.
Faithfulness. This characteristic understands that the little things are the big things. It means attention to detail. Faithfulness sees that it’s the little foxes that spoil the vine. The basics are important to any undertaking, and to be an overcomer we must practice them consistently.
In summary, I am not aware of anyone who is not currently challenged, and I think there may be more tests on the way. Regardless of the circumstances, however, our approach to business – and to life – must be to win. And that is my take on being an overcomer.
It has been said that there are no traffic jambs on the extra mile because so few elect to travel there.
In his business classic, Good to Great, author Jim Collins recounts the remarkable story of Admiral Jim Stockdale, the highest ranking U.S. military officer to be imprisoned during the Vietnam War. Tortured over 20 times during his eight-year imprisonment, Stockdale is quoted as saying, “I never lost faith in the end of the story. I never doubted not only that I would get out, but also that I would prevail in the end and turn the experience into the defining event of my life, which, in retrospect, I would not trade.”
The title of the chapter – one I’ve read many times – conveys its central theme: “Confront the Brutal Facts (Yet Never Lose Faith).” In other words, you don’t deny your present circumstances; but you don’t accept them as final. Stockdale continued, “You must never confuse faith that you will prevail in the end – which you can never afford to lose – with the discipline to confront the most brutal facts of your current reality, whatever they might be.”
This is an important message for us all. Rarely are things the way we want them to be. In many cases the truth of our situation gives cause to fanciful delusions on the one hand, or a throwing in of the towel on the other. Ironically, it was the optimists who never made it out of the infamous Hanoi Hilton. These were the ones who refused to face the facts and made baseless claims of impending release. Tragically for them the day never came.
There is another historical figure that faced a similar challenge. Being the recipient of an extraordinary promise made to him by God, the Hebrew Abraham anticipated a son, upon whom the promise rested. Yet the years passed by and the time came when neither he nor his wife, Sarah, were physically capable of having children. The apostle Paul in his letter to the Romans recounts Abraham’s posture:
The reality is that many people’s hopes and dreams are being shattered these days. Long-standing companies are going bankrupt, investments are disappearing, and jobs are being lost. Others are severely tested in other ways. These are the brutal facts. Yet they needn’t be final, providing we believe that we can and will prevail in the end – even if there seems to be no basis for doing so. Like Jim Stockdale and the biblical figure Abraham, we’ve got to have faith in the “end of the story.”
I remember well the campaign slogan of the Clinton era – “It’s the economy, stupid!” Its basic message was that most of us had it wrong; that it wasn’t about politics, policies, competence, or character. It wasn’t about abortion, gun control or the definition of marriage. It was all about money, yours and mine, and how all around bad it was. (Interestingly, those look like the good old days now.) Today, it is the same tired mantra; but the more I think about it, it’s not about money per se; and it is not the economy.
To be sure, my company and I have been affected by the economic downturn; I am challenged as much as other small business owners. But I believe the root cause of our problem lies well below the surface of interest rates, credit availability, taxes and regulation. It’s does not have to do with economics; it has to do with how we view economics – our attitude towards money and how it plays out in real time.
It has been said that people don’t have money problems, it’s how they think about money, how they handle it, and what they do with it that are the real issues. Here are some things I have identified as being underlying causes of our economic woes:
Entitlement. By this is meant the mentality that we have certain rights to things – economic, material or otherwise – regardless of whether or not we qualify for them, have earned them, or whether they are good for us or not. This attitude permeates our culture, rich and poor alike. The reality is that, by our own Constitution, our rights extend to life, liberty and the pursuit of happiness. They do not extend to things, but the freedom to pursue things. Thus happiness is not assured; its pursuit is. Compounding the effects of this mindset is a government that plays to it.
Debt. There was a time when there were no credit cards; if you didn’t have the money, you didn’t have the money, and you either saved for what you wanted or you didn’t get it. The problem with debt is that it presumes upon the future; either you believe that things will stay the same or get better, or you don’t care. This kind of thinking has a lot of folks foreclosing on their homes, working multiple jobs to keep up with minimum balances, or filing for bankruptcy. Certain types of debt can be useful, but for the most part it creates a false sense of prosperity, causing many to live beyond their means, often resulting in financial failure for both people and nations.
Sloth. There is a biblical proverb which goes like this: “He who is slack in his work is brother to him who destroys.” In other words, laziness is not a good thing. Being an employer for 35 years, I think I have seen everything. But one thing I have noticed recently is an overall change in people’s attitude towards work. The prevailing mentality is do as little as possible for as much as possible, retiring as soon as possible so we can continue to do as little as possible. And then complain about how bad the economy is. “All hard work brings a profit,” is another saying. It seems to me that there are few problems that cannot be solved by plain old hard work.
Charity. “As you sow, so shall you reap.” This is a truth the nation’s farmers understand, but it escapes most everyone else. History teaches there is a cycle to all great nations, and part of that cycle is that they go from abundance to selfishness. Though Americans are the most generous of the world’s peoples, their level of charitable giving pales with their level of income. Perhaps the answer to our economic woes is to take a larger chunk of what we do have and support those who have less – and I don’t mean the forced redistribution of wealth. I mean freely giving to meet the needs of others, through the local church, charitable organizations, or directly to those less fortunate than we are. I have found that the more you give the more your get; benevolence always pays off in the long run.
In summary, the nation’s economic situation is real and it affects all of us. However, the answer is not adding fuel to the fire by increased entitlement programs and debt, but by fostering a culture of generosity and hard work.
A question we all need to be asking ourselves these days is whether we’re going to buy into the mentality of fear, lack, bailouts, and bankruptcy. Or, if what is going on around us simply represents great opportunity; challenges that if overcome will move us forward to becoming the individuals and companies we want to be. Will we cower in fear and pull back? Or, will we lurch forward with determination?
Borrowing from a good friend of mine, Kevin Berry, I’d like to present three things that will enable us to move beyond being just survivors to becoming victors in this present economy. I should say too that these three actions can apply to any area of life, not just business.
1) Look up. I know it’s not politically correct but it’s what virtually everyone does when they’re in a tight spot, and that is pray. Surveys consistently show that most folks pray on a regular basis, and I guarantee they pray when in trouble. So the first and best thing to do when facing the challenges of the day – individually or corporately – is to pray. When we do this we’re taking our eyes off ourselves and our circumstances, and placing them squarely where they ought to be to begin with: on God, who is quite capable of providing aid in the most difficult of situations. History is replete with examples of men and women, including the most prominent, who turned to God in times of distress only to find a listening ear and a helping hand. So the fist step toward progress is to look up, pray, and expect God to answer. And we must not forget to give thanks when help arrives, directing it to the One who provided it!
2) Hook up. There is a Proverb that says, “In the multitude of counselors there is safety.” Another states, “Without counsel, plans go awry, but in the multitude of counselors they are established.” All of which is to say there is no substitute for good advice. The second thing we must do then – if we want to progress, is to hook up with others who, by virtue of their character and experience, can help us through to the next level. This might be on a one-to-one level with a trusted business associate, a paid coach or consultant, or perhaps the context of a group of others whose collective wisdom exceeds yours. Too, the value of listening to seminars on your CD or MP3 player cannot be discounted. The idea is to connect with others that can help you. In fact, oftentimes answered prayer comes in the form of other people. So look up to God and hook up with others.
3) Keep up. More often than not, our individual battles are won by pure and simple perseverance. We never know when the next breakthrough is coming, and if we give up we may never find out. How many successes have not been realized by people who have quit just short of the finish line? The idea of quitting ought not to be entertained for a moment! Unfortunately, the business climate is such that, not only are we sometimes tempted to give up, but the legal system in the United States seems to encourage it. After all, why keep going – with all the attendant risk and potential for failure – when you can walk away and be protected from your creditors? But “Quitters never win, and winners never quit.” So then, the only way out of this economic predicament is through it. It’s a race that can and will be won – not by the fainthearted or easily discouraged, but by those who are determined to move forward with endurance.
In summary, then, ours is a choice as to whether we will regress – shrink back, even give up – or progress – move forward toward our goals and aspirations. Remembering and acting on these three principles, look up, hook up, and keep up, will help us do just that.
Booker T. Washington once stated that the essence of success is not goals met or achievements made, but the obstacles overcome in the process. For the entrepreneur, then, this means there is more to small business than just making money. There are intangibles that – in the long run – can be worth far more than the bottom line.
I am not a sports fan but happened to be watching the Detroit Lions on Thanksgiving Day. My son John, who is a sports fan, was watching with me. I asked him: “Why is it that the Pistons win, the Redwings win, and the Tigers can win, but the Lions never win?”
The response he gave was one I could be thankful for. He is a finance guy, and the issue, he said, really boiled down to money. The owners simply don’t pay to get the talent they need. For sure, they have one or two outstanding players, but they need a team of outstanding players. That they don’t have.
Whether this is correct or not, I don’t know; but what I do know is the principle I got from that brief discussion: If you want to be a winning team, you’ve got to have a winning team. Put another way, if you want to win you must have a team of winners. Not just one or two. Not half the team – the whole team.
This point was brought out by Jim Collins in his best-selling book, Good to Great. His analysis of great companies – winning companies – was that they had the right people ‘on the bus.’ In fact, he said that before you do anything else, you’ve got to have the right people in the right place on the bus. In other words, you’ve got to have a bus full of winners.
Most small business owners are a work in progress. I don’t know of any who want to lose. At the same time, there are certain things the entrepreneur must do in order to develop a winning team.
First, you’ve got to have the right attitude. Arguably, the ownership and management of the Detroit Lions don’t care whether they win or not. This may be debatable, but its truth is apparent in that they rarely ever win. Compare that with other franchises whose sole aim is the Super Bowl – every year! The point is, you’ve got to want to win; losing is simply not an option.
Second, you must act. The desire to succeed is one thing; doing what is necessary is another. Developing a team of winners may require that you make some hard choices. Decisions such as rates of pay and benefits, training, providing proper resources, plus trimming non-productive people all play into the process of building a group of men and women who can make it in the marketplace.
Third, there needs to be a culture of winning. No one likes to lose, and few like to play on losing teams. In this culture of winning, everything in the organization is geared toward ending the game with the highest score. Every policy, every program, every tool, every role, every keystroke of the computer, all is designed to play its strategic part in coming out on top.
Somehow I don’t think the Detroit Lions have got hold of these basic truths. If they did, imagine the excitement their long-discouraged fans would exhibit. Imagine the excitement of winning virtually every single time. Wow!
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