Category Archives: Management

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Why We Focus

There’s a theme running through our workplace this year. It’s as simple as it is profound. It’s not revolutionary; it’s more of a reminder.

It’s all about focus.

Focus matters. Focus works. Focus wins.

The “what” and “how” of focus are somewhat obvious. We need to set clear priorities, narrow our agenda to initiatives that significantly elevate performance, add resources to projects that will have an impact, and let go of distractions that dilute our effectiveness.

The “why” of focus might be less obvious. We focus out of necessity. To the extent we choose to believe this is not a necessity, we either overwhelm ourselves in the endless regression of task lists or we embark on so many things with so little precision that we risk accomplishing little at all.

Focus requires us to make critical choices, to sort our many priorities into real priorities. When we ask why we are forcing ourselves to focus, the answer becomes clear. It’s the best chance we have of testing a bold thesis against a data-driven outcome. When we have evidence something works, we can double down on it. When the data shows otherwise, we can comfortably move on and reallocate always-limited resources.

When talking to musicians, you often hear there is as much importance in the notes that aren’t played as those that are. A composition is a series of choices. It even encompasses a structured use of rests. Poetry and rhetorical speech are similar. There are words left in and words extracted in the creative process to keep the emphasis on the words that remain.

Work is similar. We have endless choices for tasks, but time is forever in short supply. Not focusing is the same as not applying discipline to our business plans. It’s somewhat ironic that working oneself to exhaustion can be a reflection of lazy planning. Pick the wrong projects, pick too many of them, put in endless hours, and you might come up with nothing.

That’s another reason why we focus  — to have confidence that the hours we invest are in fact invested for a prescribed return and not squandered on trivial contributions.

When we fail to focus, we nibble around the edges.

When we focus, we apply editorial selection to our competitive obsession.

I recently corresponded with a colleague on how easy it is to get lost in the day-to-day. Yes, a text will pop up every few minutes, email is without end, the phone will ring with the latest crisis when we least want to be interrupted. If we start the year with focus and then look back on the year with an evaluation of that focus, it becomes clear if those interruptions derailed us from critical focus. We have to anticipate interruptions — they are unavoidable — but if we did the hard work of applying focus upfront and then did the even harder work of staying focused on those priorities, the interruptions are unlikely to derail us.

I say it all the time: Do less, do it better.

How sure am I? Very, very sure. Each year I compel a process of goal-setting with our teams where we actively debate what things matter more than others. Throughout the year, we periodically stack rank these priorities as technology quickly evolves and business pressures change. Leaders in the company have the freedom to motivate their teams as they will, but once we have agreed on areas of focus, it is expected that those tasks will be accomplished with as much detail as necessary to equal or exceed the expected results.

At the end of the year, we look back on what got done and the impact it had. Of course, priorities shift in real-time due to current events and market forces, but I have never ended a year with a totally derailed team and no significant impact on our success.

It is true we can’t do everything and no one should believe we can. We do get a lot done. We improve processes. We align data with suppositions. We help each other get better at our jobs. We mandate exceeding the expectations of our customers.

A lot of people talk about focus. A lot fewer make it religion. If you look at the prized cohort of companies moving ahead of the competition, you are likely to see the embrace of focus.

Bring focus to bear and the year ahead will be clearer, brighter, more satisfying, and more rewarding. The alternative is often burnout and unmeasurable results. Think about next year’s review cycle and make the right commitments now. It’s not too late to get going on a breakthrough, just focus on that breakthrough and don’t let it get away from you for anything less.

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Photo: Pexels

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Critics Don’t Carry The Bag

Those distant from decisions often have many opinions to offer.

Sports journalists tell team managers what they should have done in yesterday’s game and what trades are worth making for the second half of the season.

Political pundits tell elected incumbents how to vote on legislation if they want to be reelected and opposing candidates what to include in their platforms.

Business columnists tell CEOs what companies to buy, what assets to unload, where to cut costs, and how to allocate dividends.

It’s all noise to those who are supposed to be listening.

If you sit in the seat, you listen to customers, team members, mentors, data, research, and the instincts that develop as a result of all these factors over a lifetime. You don’t look to those who sit on the sidelines and fire in potshots.

Until you own the outcome, until you have felt the weight of what could result as the effect of your decision, you are largely consuming air when you tell us what we should do. We may be unsure, but you don’t know.

“Carry the bag” is a term most senior leaders understand. It dates back to the days of door-to-door salespeople who carried their wares in satchels, literally bearing the weight of the product to be sold from one household pitch to another. Today we think of it as maintaining a sales quota, but despite the fancy titles top business people may hold, when you’re in charge, if you don’t deliver the sales required to achieve agreed goals, everything else in a company quickly becomes a lot less critical.

The scope of sales responsibility in a company transcends the actual exchange of dollars for goods and services. You could be selling a new strategy to an ownership group or board. You could be selling your vision for change to public or private investors. You could be selling a new initiative to employees whose buy-in and expertise are critical to transforming an idea into action.

In every instance of competent management, whoever owns the responsibility for transformation takes the matter seriously, understanding that ideas often are a dime a dozen and execution matters more than lofty commentary. Actions have consequences. Outcomes are unpredictable and even fleeting, but regardless of win or lose, whoever owns the decision to take action owns accountability for its effect.

A company can grow, shrink, be reinvented, or become obsolete based on sometimes unpredicted and cascading ripple effects of chess moves made real. If you’ve ever carried one of these bags, you know the difference between opinions argued in a bar and making a hard call you can never completely predict.

When I read a columnist’s assessment of a complex situation and see their confident, succinct remarks on what a CEO should do at any moment in time, I wonder what audience they are targeting. Are their words just filling space on deadline, at best a form of toss-away entertainment? Are they setting a beat to reference in a subsequent story when a company doesn’t heed their wisdom to say, “I told you so?” Do they think their opinions will rally shareholders to align with their insights and lobby a company under their influence?

They know top management isn’t their audience. Top management thinks differently about opinions. If a critic is wildly wrong about something strategic, no one cares. If top management is wrong about something strategic, a lot of people care.

I often see former bosses of mine and accomplished colleagues receive such advice in publications of global note and otherwise. They don’t need this kind of advice. They are way ahead of you. They are getting advice they trust — and still carrying the bag in ways their public critics could seldom imagine.

I read a number of newspapers and newsletters on a daily business. I am always looking for insights. When a great journalist reports researched news credibly and objectively, then puts it in some form of relative or historical context, I am grateful. It helps me form opinions about tangential matters I can test in all kinds of ways.

It’s also immensely helpful when a disciplined reporter exposes lies, scams, market manipulation, and other illegal activity — all tentpoles of investigative journalism. When John Carreyrou shined a bright light on Theranos in the Wall Street Journal, he provided a public service. Eyes on hidden crime are noble, particularly the bravest voices who endure their own criticism until proven accurate.

When instead a lazier writer suggests the headline, “The list of X things this troubled CEO must do now,” I turn the page. If I could, I would hand that individual a bag and tell them to come back when their sales quota was met. I’m sure they would reject that notion as unrealistic and irrelevant, not their job. That would make my point.

There are many ways to be humbled, nothing quite so much as an unanticipated outcome. When you don’t get what you thought you would, you’re still left holding the bag — until you’re not. That’s the difference between an offered opinion and a real decision. One fades away and is forgotten instantly. The other is reality.

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Photo: Pexels

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The Uplifting Wisdom of Fred Smith

I recently enjoyed the privilege of participating in a small group online discussion with Frederick W, Smith, the founder and longtime CEO of Federal Express. Imagine being at the helm of a global disruptor like FedEx for an uncanny five decades. Think someone like that might have a few things to say about the life and times of business, society, and learning? You might be as surprised as I was about the big ideas he would most want us to embrace.

Legend has it that the initial business plan for FedEx emerged from an economics paper Smith wrote as an undergraduate at Yale University, describing the need for a reliable overnight delivery service. He best remembers receiving a grade of C on that composition. That idea grew out of his experiences as a young pilot, occasionally offering to deliver important packages for New England technology companies that he would carry in his personal travels.

Equally important in the formation of his character was a four-year stint in the U.S. Marine Corps commencing in 1966 where he received officer training and served in Vietnam. “Yale taught me to think, and the Marines taught me to do,” notes Smith in shaping his vision and leadership of FedEx, which he founded in 1971. The company began regular operations in 1973 and just celebrated its fiftieth anniversary. Smith has transitioned to executive chairman but is every bit as engaged in the company’s direction as he was at the outset.

Early market studies confirmed Smith’s thesis that there was an enormous opportunity for an integrated global delivery network that would be realized by harnessing the power of transportation machinery and sophisticated data systems. He took on the daunting task of merging the capabilities of technology with the mapping of logistics, bringing together physical assets and mathematical calculations on a vast scale. He knew that building this kind of network was a frontloaded bet, but that once established, the barriers to entry of challenging that network would create both a competitive advantage and a trusted brand among customers.

Today that network generates $90 billion in annual revenue, employs 550,000 people plus another 150,000 contractors, moves 16 million shipments each day, operates in 5000 locations in 220 countries, manages 650 planes, and coordinates 210,000 vehicles. FedEx accomplishes this through endless innovation, precision execution, and constant reinvention.

What can we learn from an incomparable entrepreneur, celebrated business leader, and caring philanthropist that might be even more exemplary than an indefatigable work ethic? My key takeaway from listening to his carefully chosen words is that humility is a choice, and Smith embraces humility not just as a core personal value, but as a motivating force that drives him to an always improving game. “The world does not begin with your birth,” he reminds us. “There is much to learn in studying the thinkers who came before you.”

Given the ceaseless advances in information technology, Smith believes it is the CEO’s job to stay immersed in the evolution of change management. In addition to the legally required standing committees of a public company’s board, he has found it essential to maintain a carefully identified technology advisory committee well versed in applied science beyond his company’s core competencies at any time to make sure those technical abilities become core competencies.

He also makes it a point to stay close to senior military leaders both formally and informally for their deep understanding of complex systems and human motivation in urgent circumstances. He has reciprocated over the years serving on key government panels and presidential commissions to help bridge the gap between private business and government, share emerging ideas, and offer his hard-won knowledge as a quiet contribution to public service.

Smith is now keenly focused on embracing the fast climb of artificial intelligence, yet another strategic inflection point both in the growth of his company and the world at large. The threat of cybersecurity has always loomed large on Smith’s short list of key concerns around systems risk, where he sees generative A.I. both exacerbating the problem and potentially forging a path to workable responses. “It will help remove the friction of international customs,” he suggests. He is also passionate about carbon capture, driving FedEx to a carbon-neutral future not just because it is the right thing to do for the environment, but because the companies that get there first will enjoy ongoing business advantages in proving models with measurable returns on investment.

The culture of FedEx remains focused on innovative practices as a competitive platform that is rooted in the company’s founding and ingrained in the necessity of proactive thought leadership. Not surprisingly, he is obsessed with teamwork and team accomplishment over individual ego and achievement. “You’re not the smartest person in the world, be humble,” he reminds us. His observations of multidisciplinary success in business, military, and government enterprises reinforce his championing of building and sustaining team dynamics.

Smith is concerned that people are now spending so much time behind video screens that their sense of reality is being distorted by inadequate forms of communication. “Thinking behind screens” does not bridge viewpoints or bring people together. He observes in social media that it creates “a place where outrage has found a business model.”

Now, about that lasting wisdom: Here’s where Smith brings down the house with his clarity of life’s lessons and unassuming purpose. Staying on the edge of technology and reinvention no matter one’s current success is more tactic than strategy for this highly accomplished individual. What is core to Smith is his embrace of mortality as a further reflection of humility. “Life is short and it ends, the clock is ticking,” he advises. “Don’t get all wrapped up in your personal self, that’s a very unhealthy thing to do.”

What is key to reminding us of our humanity in his worldview? “Maintain a sense of humor, because life in many ways is absurd, and you need to be able to laugh at yourself.” Smith clearly understands irony, has seen his share of farce, and with sporadic investments in the arts, knows a funny story when he hears one.

There you have it from one of the most successful innovators of our time: be humble, remember your mortality, and don’t lose your sense of humor. I would never have guessed that’s what I would take away from this conversation, but how delighted I am to have experienced such a treasure of actionable advice. Fred Smith understands leadership by example. Humility is evident in his journey, mortality is certainly at hand given these reflections, and if you listen at length he might just make you laugh.

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Photos: Pexels and FedEx.com

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Cold Call Catastrophes and Catalysts

As the economy comes under increasing pressure, I find myself wading through an email inbox increasingly filled with clutter. I am being too polite. It is filled with garbage. Sadly, much of that garbage comes from sales folk who think they are reaching out to me to generate much-needed business for their companies.

Cold-calling is part of a salesperson’s job, I know that, and it is hard. If you don’t learn to do it well, you won’t be in sales long, or you will be doing it for the rest of your life on increasingly less lucrative accounts with thinner commissions than you are currently receiving. If you are not hearing back from me and the many others you are bombarding with modestly tailored spam, I am sure I don’t have to remind you that you are not succeeding.

While overcoming objections is a pillar of sales, you aren’t doing that if I delete your pitch on sight. Given the lack of good training you might be getting, allow me to suggest a few things you might be doing wrong. At the risk of inviting further assault, I will then suggest some things you might want to consider doing instead. If you are a manager overseeing a platoon of cold-callers, this might be an excellent time to audit your strategies, tactics, directions, and results to help those under your wing succeed rather than struggle.

“Can I send you a gift card for your time?”

No, you can’t. I don’t trade my time for $10 per half-hour. I also don’t want a free Yeti mug. I am not taking a meeting as a thank-you for something I can buy on my own. Anyone who takes this paltry bait is either violating their company’s conflicts policy or stringing you along without decision-making authority. Don’t offer to have coffee, lunch, designer cookies, or anything else sent to my office as an introduction. We don’t know each other. This is not going to make us friends. It’s insulting and you must stop now. This is not the same as me agreeing to have lunch or dinner with you in person because you have caught my interest. It’s cheap, it’s icky, and it compromises both our integrity.

“Can we jump on the phone for a few minutes?”

No, we can’t. I don’t jump on calls. I choose them wisely. Remember the obvious: I don’t know you and you don’t know me. You’re selling to me. It’s not my job to pick a time from your calendar to hear a sales pitch you initiated. You are being presumptuous and overreaching if you think I am going to drop what I am doing to jump at your opportunity. Don’t make yourself look silly when you are introducing yourself.

“Are you the right person to consider a new service?”

Seriously, you can’t be bothered to do your homework and know the answer to this before you send your inquiry? Why do you think I pick the VOIP system here? Or the cleaning service? Or the door alarm? If you’re wrong soliciting me, do you think I’m going to tell you whom you should pitch when I don’t know you? If we’re considering a new voicemail platform, someone is already working on that and you’re too late.

“Did I drop below the top of your email list?”

Yes, each of the last three times you emailed me and I didn’t respond. Moving your fourth inquiry back to the top of my email inbox at best is going to remind me of the last three I ignored in my backlog or deleted. What’s that old saying about the definition of insanity?

Okay, enough timesink, I’m sure there are dozens (hundreds) more examples of these non-icebreakers. Your time is valuable, same as mine, and neither of us can afford to be wasting it. Your bosses may tell you they want to know how many cold calls you made yesterday (almost no one calls anymore so most of this is email), but what they want are prospects — warm leads they believe you can convert to business. Here are a few avenues that might get you an email in return, the start of a conversation, which is the best you can hope to achieve on a first solicitation.

Get a proper introduction.

Want to meet me? Find someone who knows both of us and get that person to facilitate an introduction. I just heard your head explore: “That’s so hard,” you bellowed. “It could take weeks, and then why would anyone volunteer to bother you about an intrusive sales call?” Yes, exactly. It’s going to be a rare occurrence, but if you know someone I know and they think meeting you could potentially help me, they will reach out on your behalf. This is the drumbeat of effective networking. When it’s mutually beneficial, all boats float. A warm introduction beats a cold introduction every day of the week. It is worth all your time to secure one.

Send me something I don’t know.

I may not want your canned demo, but if you take the time to prepare a custom report that clearly demonstrates how your product or service solves a problem I have, I might flip past slide one. It all depends on how hard you’ve worked to make your case, how much useful data you can amass that catches my attention, and how relevant your argument proves to be from the first sentence to the last. “I can’t possibly do that for every cold call,” you groan. I agree, you don’t have to do it for every unrequested approach, just the one you want me to acknowledge.

Establish a relationship based on shared interests.

There’s a lot you can learn about people you want to meet by doing research — the organizations where they belong, the charities they support, the articles they’ve written or talks they’ve given, If you find a way to establish an authentic bond or point of connection, there is a chance you might open a dialogue that leads to a business opportunity. This is a much longer road and it will fail more than it will succeed, but it is much easier to pitch someone when they’ve already decided you are credible, rather than evaluating your personal credibility and your pitch in the same instant. Would you be surprised to hear that people like to do business with people they know or have already done business with in the past? Getting that history is hard, but once you have it, a lot more doors open.

What’s the real secret?

The real secret to building a successful sales pipeline hasn’t much changed in a hundred or more years: It all comes down to advance work. As much as 90% of your sales success is in preparation. Once you get in front of someone, which is the shortest time on time on the calendar, your presentation skills will stand or fall on your offstage readiness. Shortcuts seldom work. It’s your time out of sight that makes your time in sight resonate. Your time is an investment in your outcome, and the more you invest, the more likely you are to establish the basis of an opportunity.

Or you can offer to send me a gift card for a luscious fruit basket I won’t redeem and add that send to the tally you report to your boss. Your choice.

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Photo: Pixabay