Over the past several weeks, we’ve taken a deep dive into our Member 360 tool, one of the multiple proprietary business tools that we make available to our CEOs and business owners. This week the series continues as we look at the very important topic of Leadership. There are several key questions asked in this part of our 360 Tool and we will break this topic into a 2-part series.
Taking a more in depth look at each topic and rating your business in each area is important for the health and growth of your company. Leadership in your company is just one piece of the Member 360. If you haven’t seen the full evaluation tool, you access the full MEMBER 360 here.
This week, we’ll look at the first 6 LEADERSHIP questions and why they are important.
Do you lead by example in pursuing the company’s Vision, Mission and Values?
Do you walk the company’s talk? As the leader, you are under the microscope every day. Your team is looking at you as the example and as a role model. Every action you take, whether in person, on the phone, or by email will be examined by your team in relation to what you are communicating as your business vision/mission/values. Do you scrub your decisions and actions against these as a litmus test?
Do you have a clearly-defined exit strategy or succession plan for your business?
If not, this should be a priority for 2019. Having this in place is critical for businesses on so many levels. First of all, how would your business function if something happened to you and were unable to work for an extended period of time? What will happen to your company in the event of your untimely passing? This is not only important for your clients and your employees, but also for your family … especially if you run a smaller business. It can be overwhelming, so start with the easier piece first – succession planning. This includes having detailed written processes in place that someone else can follow, and having people trained in all aspects of the things you handle personally in your business. Include the financial and legal matters that will most certainly arise in the event of your death and/or incapacitation. Doing this work now, will also help you be ready for the exit strategy. Having these items in place ensures the business not 100% dependent on YOU, and makes the company much more attractive to a potential buyer in the future. To be perfectly frank, this area is typically one the greatest weaknesses of smaller businesses.
Are you disciplined in overseeing the execution of your strategic plan?
Let’s say you have a great strategic plan for the business. Excellent! It has all the elements to steer your company confidently into the uncertain future.Even better! The question here is whether you are actually executing your plan. Some elements of your strategic plan may be easy to do and you you tackle those readily, but are you showing discipline in tackling the tougher tasks? Are you holding your team accountable for their pieces of the plan? A strategic plan is only as good as the person who has the discipline to stick to it and execute it. Give yourself a good score if you feel that you are on the road your strategic plan has mapped out.
Do you exhibit a high level of integrity in words and actions at all times?
When outside of the office in social situations, are you modeling the behavior you want your team to see? Is your personal life also in line with your status as a role model? Having an “at the job persona” and a different “social life persona” is not a good idea. Integrity is being able to look yourself in the mirror before you go to bed and see a person that does the right thing even when no one is watching. If you feel good looking at the mirror at night, give yourself high marks.
Do you follow through on your commitments to others?
This goes hand and hand with integrity. You probably know someone who promises everything and rarely comes through with anything. Frustration and lack of respect can happen quickly if you are not following through on commitments. If you are having trouble in this area, your intentions may be good, but lack of follow through will seriously impact your company’s reputation and the morale of your team in a negative way.
Do you communicate clearly with your team and listen to their feedback?
Many times, leaders believe they are good communicators. However, the perception of your team (especially your rank and file workers) may be quite different. A great way to check this is to find a new hire and ask them about your company, your vision, mission, and values. If you aren’t hearing what you want, then your business communication needs some work. In addition, keep in mind that people listen in different ways. While an email is fast, a phone call or face to face meeting with someone may achieve better results. The same applies with feedback. Having multiple avenues for your team to provide feedback will give you better insights. It’s important to listen. If you are listening, do you act on the feedback? If you have good answers to these gut check questions, give yourself high marks.
In next weeks blog, we’ll wrap our Member 260 Tool series with the final six leadership questions. In the meantime, what improvements can you make based on your answer to the above?
Our MEMBER 360 is an incredibly valuable tool when you look at each question in depth, as we have done here. This is the type of exercise we go through in LXCouncil meetings with our CEOs and business owners. If you’re a CEO, business owner, or entrepreneur who really wants to build a wildly successful business, you need more than a dream — you need a dream team.
Simply put, that’s what LXCouncil is … it’s a dream team comprised of other business owners, just like you. Peer advisory councils are an entrepreneur’s secret weapon. Members gain access
to knowledge and insights that their competitors often lack. That extra edge can really make
a big difference in how a company performs in a competitive marketplace.
If you are interested in learning more about becoming part of a peer advisory council, let’s start a conversation!
CONNECT WITH LXCOUNCIL ON SOCIAL MEDIA