The landscape is changing and while nothing is ever certain, I am a deep believer that “change is certain, progress is not”. The economy has come a long way from the heights of 2007, the collapse of 2008 and the low lows of 2009. Certainly the recovery is tepid, with job growth (and in fact gdp) growing slower than anyone would like; yet the trends are still positive. In this “new” landscape of growth, I believe that we as leaders need to refresh our thinking, our priorities and our skills in order to be successful leaders with a growth mindset. Just a few years ago, I remember being in a meeting with a customer who was describing their overall flat revenue trends as “you know Bill, flat is the new up.” It’s hard to say whether that perspective was appropriate for that moment; what is not certain is that for today’s business environment, “up is the new up!”
In thinking about this dynamic, I want to share a few ideas that might be productive as we lead with an increasing “growth mindset.”
1) Raise Expectations. As leaders, we need to raise our own expectations for accelerating results in the business, capabilities across our organizations, along with our own skill sets. The last few years have been tough, really tough! With that reality there comes an understanding and possibly a tolerance for average performance. Ask yourself whether you have ever heard yourself (or other leaders) say that “with everything we’re dealing with, that performance is actually not that bad.” While tinged with compassion, I actually think it’s a disabler for an organization. We need to be vocal about raising our expectations for accelerating results AND our work performance. Think of it as the “what” and the “how”. We need to accelerate the results in the business (the “what”) and we need to improve our business practices (the”how”) across organizations. It’s my experience that if the leader doesn’t “raise the bar”, it often never gets raised.
2) Improve Talent. Over the past few years, the job market has been very tight. As business trends improve, the job markets should/will follow. In this changing landscape, we need to insure that our best, highest performing people are engaged/challenged in their roles and excited/energized to come to work every day. What is equally true is that we need to take action to remove underperformers quickly. Nothing is more de-moralizing to a high performer than a tolerated/accepted low performer. Every job opening should be thought of as an opportunity to raise the talent “bar” for the organization as a whole. I use the acronym of PTI (Progressive Talent Improvement) to remind myself that every new hire should have the capabilities/experience above the average level of the current organization. By utilizing PTI over time, you can (and should) be continually improving the organizations capabilities and potential.
3) Increase Speed, NOW! This improving business landscape is not only occurring for you and your company. It’s occurring for your competitors and their executive teams. When working on innovating new products or services, improving customer service, building new skills, or even filling open positions, do it faster. It’s dangerous to assume that you have the time to wait, time is a luxury that few businesses have!
4) Be Paranoid, competitively. I learned early on in business that competition never sleeps nor takes vacations; they’re always trying to take your business. Now I am a complete proponent of work/life balance, taking your vacation days, and getting a break from the business as an individual. My council is to be careful/paranoid as an organization. Never under assume an adversary’s capabilities and intent. If you operate with a constant “nervous itch”, you will be more likely to compete and win in any competitive landscape.
5) Increase your organizational listening and learning. As markets improve, there WILL be more innovation competitively. New products, new packaging, new technologies, etc have all been on the rise over the past few quarters. An improving business landscape will allow companies to take more risks than they have over the past few years. This reality is happening. Our opportunity as leaders is to work on ways to improve our organization’s ability to listen to, and learn from, the market place. Work to reinforce that all departments/functions could and should be more “outward” oriented; more tuned into the competitive landscape, hungrier at all times to capture and share insights and learnings from the marketplace.
6) Take care of yourself/take care of your team. As you can tell from the above topics, I clearly have the sense that the tempo and demands of business will be accelerating in the days/quarters ahead. As such, it is critical to insure that we are also taking care of our own health and the health of our teams. We all need to keep up with our sleep, our exercise, our physicals, etc. Keep an eye on your team members that are starting to work weekends and late nights regularly. Sure there will be moments when a key need/deadline requires extra-long hours, but week after week this behavior wears down an organization and ultimately reduces performance.
In closing, I want to reinforce the idea that growth is not inevitable! Certainly improving business trends are welcome (very welcome), but without a more growth oriented leadership approach, the “change” that is happening across our economy will not be translated into “progress” for you, your team, and your organization.