The challenges of growing a small mid-market business are many. And not for those afraid of hard work and long hours.
To begin with, you’ve got to create a strong culture that attracts the right talent in a highly competitive market, without being able to offer all of the bells and whistles and financial benefits of the “big guys”. Second, you’ve got to foster a “growth” mindset in your employees, not “fixed, and provide the right growth and development opportunities so that people are engaged and committed. Finally you’ve got to do all of the above on a budget, with a sharp focus on keeping expenditures reasonable while maximizing impact.
All of which requires commitment to a Vision bigger than yourself AND perseverance to stick to the plan in spite of the obstacles that come along. The Enlightened Leaders I know are willing to do that work, however, because it’s the right thing to do – for themselves, their employees and their customers.
But many CEOs and Executives have commitment issues. Or as the millennials call it these days – commitment phobia.
How do you know if you’ve been infected?
Here’s four signs (along with a few resources for you to check out) if you’d like to get back on the path to a “phobia free” life:
1. They claim that they have strong commitment to their company’s growth and Culture. Yet when asked about their BHAG or their company Core Values, they can’t remember them OR even worse, they don’t have them. (Here’s one of our “primer” articles from HBR to get you started.)
2. They claim that they have strong commitment to their people. Yet they don’t spend money on training and development of their staff. Or schedule and take the time to have regular coaching sessions with their team and provide them with scorecards for their position, recognition for a job well done and constructive feedback to help improve their performance. (Check out CRAVE, from one of my new favorite authors, Gregg Lederman here. Consider using his 10 minutes by Friday routine to start building a Culture centered around recognizing and rewarding.)
3. They claim that have strong commitment to themselves and their own growth. Yet they don’t seek out reliable, credible peer counseling from other CEO’s and leaders and attend workshops. Nor do they use a coach who can help hold them accountable to long-term behavioral changes. (Set up a time to talk with us about our CEO Think Tank® community of Enlightened Leaders and see what you’re missing.)
4. They claim that they have strong commitment to their vision, in spite of having no documented plan in place. And, they keep giving in to the daily temptation of fighting fires, regardless of whether or not that fire is important to the longer-term health of their company. (Of course, they will tell you a million reasons why that particular fire was important and worth fighting.) What they won’t be able to tell you is, why haven’t they invested the time and resources on making sure that fire never occurs again.
Do any of these sound like you? (Remember, the first step to dealing with the problem is acknowledging that you have one :-).)
If so, and you’re ready to confront your own commitment phobia and get you and your team on the straight and narrow, come join us on Thursday, October 3rd.
Learn from an Enlightened Leader who has done the hard work of committing to his Vision, his team and himself for the past three decades, becoming one of the most respected leaders in the world. Come hear Jeff Hoffman, global entrepreneur and author of “Scale” when he’s here in Philly speaking to our community of CEO’s and their teams.
With over 30 years of experience, Cheryl Beth partners with small and mid-market CEO’s and C-level executives to create more valuable and sustainable companies. She has led strategic change initiatives, provided business advisory and coaching services to hundreds of small and mid-market companies and focused on providing a return on investment to every CEO with whom she has worked. Questions about how you can scale your business? Connect with Cheryl Beth on LinkedIn and drop her a message, she’s happy to offer some guidance.