This is an interview with John Zimmer, one of the leadership communications coaches who joins me regularly at IESE Business School for various programs. This week we are teaching the Executive MBA program.
John has a wonderful blog: Manner of Speaking. Four of the top posts at his blog are:
IESE Business School is a global business school offering MBA and Executive Education programs. Ranked #1 in world by FT, four years in a row (2014-2018). IESE has locations in Barcelona, Madrid, New York, Munich and Sao Paulo.
The Mission of IESE Business School
The mission of IESE is to develop and inspire business leaders who strive to make a deep, positive and lasting impact on the people, companies and society they serve.
“We want to educate leaders to whom we can entrust the future of business and society. For this reason, we develop the integrity, spirit of service, professional excellence and sense of responsibility of all those who take part in one of our programs.”
IESE Business School
IESE Business School activities are centered around three management axes:
general management approach
people-centered vision, with the ethics and social responsibility that entails. We believe that companies are, above all, communities of people who work better in atmospheres of respect and trust.
If you take better decisions, you improve your life. How to take better decisions:
Improve your data
Focus on what is Important (with Frameworks)
Get other brains involved
Improve your Data
Feelings are not a good guide in complex decisions. Only evidence and the perspectives of people who have gone through similar decisions is good data for your decisions. Everyone has an opinion, not all opinions have value.
What data are you putting in front of you as you begin the process of deciding?
Focus on what is Important
The famed Eisenhower prioritization matrix has two axis:
level of importance,
level of urgency.
This gives 4 states:
important & urgent
Important & not urgent
Not important & not urgent
Not important & urgent
Zone 4 is deadly.
Stay out of Zone 4. Zone 2 requires the greatest discipline, and has the greatest long term payback.
You have to know where you are going. If you don’t have goals, you’ll drift into shit you don’t enjoy doing. You’ll not build anything. You’re headed down a dead end.
What are your lifetime goals? Do you have them written down? Who do you want to be when you are older?
Imagination is the greatest human talent. It is vital to use your imagination to visualize your desired future. An architect doesn’t begin to build until the house is finished (on paper).
Get other brains involved
I was with the Arbinger Institute last week.
The biggest problem with human beings: Self Delusion.
We have such a huge need to see ourselves as being right, that we will ignore all evidence to the contrary.
Mastermind groups, peer advisory groups (EO, YPO, Vistage), mentors and coaches are vital to hold a mirror up to you and call out flawed thinking processes.
The person we find it easiest to lie to: ourselves.
Be careful. The question is not whether you are deceiving yourself, the question is where are you deceiving yourself.
Here’s a quick analysis (not scientific nor complete) of poor ways of listening. I am guilty of #1 and #2, I can enjoy #3… but I really hate #4. (#2 is my Achilles Heel).
The 4 Categories of Poor Listening
Knows it Already
Knows it Already
As you get half-way through your sentence, the Knows it Already already knows what they think you are going to say. They are now preparing their response rather than listening to the rest of your words.
Whatever you have done, they have done it… but twice as well, or twice as big or twice as impressive. You share that you went on safari last year and saw 2 elephants. They went on safari 2 years ago and saw 4 elephants, 10 lions and millions of other animals.
I give thanks to Florian Mueck for helping me recognise and reduce my tendency towards “One Upping”
Whatever you share, they will share something negative or comparative about other people who are not in the room.
“All my daughter really wants from me is a few minutes of my undivided attention… the richer people get the more money they spend trying to “
I am bad with money
It has taken me many years to admit this to myself. It was only by admitting it that I have been able to take the steps to put my family on a path to financial freedom.
I have a long standing belief that if I am a good person and do good work, the “money thing” will sort itself out. This has proven to be a poor approach to a well balanced life.
I still have had a lot to learn about my relationship to money. Many of the lessons shared in this video resonate with my own (poor) relationship to money. I am so optimistic that the future will be better that I don’t hold myself to the discipline of saving and investing my money. It has taken several business failures and a clear objective reflection on my poor money decisions to start to accumulate money over the last few years.
10 lessons about money from Dorothée Loorbach
Dorothée was “successful” in her job and made a lot of money… and then she spent it all… until she was broke, unable even to bake her little daughter a birthday cake. She had to face her own flawed beliefs about money and how they were damaging her ability to live a life that matters.
Waldemar Schmidt, past-CEO of ISS, a 250,000 employee global facilities services business.
Currently on the Boards of 28 companies, London Business School Advisory Board, Professor at Copenhagen Business School, Executive in Residence at IMD.
Author of 4 books including “The Job of the CEO“. Note: all book Royalties are donated to the Waldemar Schmidt Scholarship for (Brazilian) students at the international MBA Programme at Copenhagen Business School.
Highlights from the Interview
1:49 What is the Job of the CEO?
3:18 Know Products, Numbers, Customers
4:30 Management and Leadership
5:35 Taking Good Decisions
12:40 The Calendar of the CEO
15:07 What do you do after being a CEO?
16:45 Why did Waldemar step back from the CEO role?
18:10 Advice to a 55 year old ex-CEO
19:55 Networking as a CEO
21:18 How to Build Relationships with top Head Hunters
23:20 130 dilemmas that CEOs will face in life and business
23:50 The worst enemy of great leadership: Arrogance
A leader should be interested in developing 2 competencies in the people within their organisation:
Good Decision Making (to take good choices about how to use the resources of the organisation to achieve strategic plans)
Influencing Skills (because if they cannot influence their peers, people will have to involve you every time…)
If your team doesn’t have #1 they are taking poor decisions. If your team doesn’t have #2 they cannot execute without your support (you will be sucked in to every initiative).
In order to take Good Decisions, you need to ask great questions.
Most people ask few questions and rapidly jump to a solution. Great decision makers ask many questions and get many perspectives before they commit to a decision. Here’s a set of great questions…
This set of questions was inspired by the Global Digital Citizen Foundation and by Vistage Issue Processing where we help leaders develop the ability to ask great questions to help leaders think more deeply and see new perspectives, clarify objectives and take disciplined effective action.
The Ultimate Guide to Great Questions for Critical Thinking
Divided into who, what, where, when, why, how…
…benefits from this?
…is this harmful to?
…makes decisions about this?
…is most directly affected?
…have you also heard discuss this?
…would be the best person to consult?
…else has overcome a similar challenge?
…will be the key people in this?
…deserves recognition for this?
…is the impact on you?
…is the impact on those close to you?
…are the strengths/weaknesses?
…is another perspective?
…is another alternative?
…would be a counter-argument?
…is the best/worst case scenario?
…is the most/least important?
…can we do to make a positive change?
…is getting in the way of taking action?
…else would we see this problem showing up in your life?
…else have you overcome this type of challenge?
…are there similar situations?
…is there the most need for this?
…would this be the greatest problem?
…can we get more information?
…do we go for help with this?
…will this idea take us?
…are the areas for improvement?
…is this acceptable/unacceptable?
…would this benefit you?
…would this cause a problem?
…is the best time to take action?
…will we know we’ve succeeded?
…has this played a part in your past?
…can we expect this to change?
…should we ask for help with this?
…is this a problem/challenge?
…is it relevant to your goals?
…is this the best/worst scenario?
…are people influenced by this?
…should people know about this?
…has it been this way for so long?
…is there a need for this today?
…is this similar to _____?
…does this disrupt things?
…do we know the truth about this?
…does this benefit you/us/others?
…does this harm you/us/others?
…do we see this playing out in the future?
…can we help you?
[Edit: this poem was shared by my Dad upon receiving this post]
I Keep Six Honest Serving Men Rudyard Kipling I KEEP six honest serving-men (They taught me all I knew); Their names are What and Why and When And How and Where and Who. I send them over land and sea, I send them east and west; But after they have worked for me, I give them all a rest.
I let them rest from nine till five, For I am busy then, As well as breakfast, lunch, and tea, For they are hungry men. But different folk have different views; I know a person small— She keeps ten million serving-men, Who get no rest at all!
She sends’em abroad on her own affairs, From the second she opens her eyes— One million Hows, two million Wheres, And seven million Whys!
Jim Collins delivered the Keynote at this year’s Vistage ChairWorld meeting to over 800 participants.
About Jim Collins
Jim Collins is a student and teacher of what makes great companies tick, and a Socratic advisor to leaders in the business and social sectors. He has authored 6 books that have sold more than 10 million copies worldwide. His books include:
Good to Great which examines why some companies make the leap to superior results,
Built to Last, which explores how some leaders build companies that remain visionary for generations;
Great by Choice, which is about thriving in chaos—why some do, and others don’t.
Conor’s Video Summary of Jim Collins 12 Questions
Jim Collins shared 12 questions that come out of his work over the last 25 years.
These are my notes and reflections from his Keynote address.
The 4 part video series below gives a short overview of each of the 12 questions.
#1 strive for excellence
The first step is a conscious decision on the part of leadership to decide for excellence, to decide to build an enduring great company. Often leaders are enduring great individuals, but that doesn’t make for an enduring great company. Leaders must put excellence in the company over “success” in their own individual life. (This doesn’t mean that they give up a good life, but that they are willing to pay the price of leading an Enduring Great Company.)
Differences between level 5 and level 4 leader?
Humility. This is key to level 5. Deep genuine personal humility combined with a brutal will, a fierce resolve directed at something that is not about them
Leadership: People follow when they have the choice to not follow… otherwise it is just power.
Charisma – not necessary for Level 5 leadership (“never confuse personality with leadership”)
The author of this blog with Jim Collins, best selling author of Good to Great and Built to Last, at Vistage ChairWorld, January 2019
#2 First who, then what.
Right people, then trust them to figure out where the bus is going. Great vision without great people is irrelevant. Single most important talent: select great people for the key seats. Nothing is more important that key seats filled with great people.
#3 confront the brutal facts
What brutal facts must we confront? No opinions.
#4 Hedgehog concept
Fox knows many things, hedgehog knows 1 Fox loves complexity, hedgehog loves simple Intersection of Passion, best in world, drives economic engine Big is not equal to great (think restaurants- if it were to disappear it would leave an unfillable hole)
#5 20 mile march
Driving the flywheel “Which push made the difference?” None… Cumulative effort consistently over long time Flywheel- causal links between, inevitability “I admire Nike” “what do Nike do? Products so great that pros wear them” great products + social proof Execution 1-10… flywheel accelerator at quality of execution of lowest quality of execution Best investment strategy “a highly undiversified investment where you are right” “We can make it up on a good day” fallacy. Be super careful of overextension leading to missing your March Cycle across USA… booked the hotels ahead of time: have to make it, and prepare for tomorrow and the next day “Part of the task of helping others is to be really hard on them… with love”
#6 bullets, then cannonballs
Innovation small, then massive support of small wins. Scale the right innovation. Scaling innovation is more important than innovation. Fail: Not enough bullets Bullets but no guts to fire cannonball Untargeted cannonballs
#7 don’t die
The first step of moving from good to great to built to last is “don’t die” I am terrified by good times. Complacency! Be properly terrified all the time. Fortune 500 85% carnage rate.
Productive paranoia:Prepare for the storms (cash to assets ratio 3-10 times greater)
The only mistakes you can learn from are the ones you survive
#8 clock building or time telling?
Idea-> biz-> great company = enduring success
“The genius with a thousand helpers model is not building a great company”
Shift from time telling (individual level) to clock building (at a company level). Every leader can grow to be the leader of a bigger, greater company. Don’t answer questions with answers… help people find their own answers, their own resourcefulness.
Steve Jobs 2.0 – had a yoda who helped him create a culture of geniuses. What’s your leadership 2.0?
#9 preserve the core, stimulate progress
Yin & yang Core set of unchanging values and purpose, constant progress towards your north star
#10 What’s our BHAG?
Time frame 10-25 years… anything less is just base camp
“The best people want to do the hard things”
A Good BHAG frightens mediocrity away. Test of BHAG – does it repel some people?
#11 return on Luck
You didn’t cause
Get good at making the most of when luck happens. How do you handle the unexpected? Use both good luck & bad luck (crisis allows change) to improve.
#12 Stop Doing list
Only doing is not discipline. True discipline is about what not to do first. What should you not be doing?
Peter Drucker – age 65 had written only 1/3 of his books. Age 86 wrote 10 more books.
“You will survive, you will probably succeed… The question Mr Collins is how to be useful”
Acting solely in the interests of shareholders, not in the interests of the company as a whole
Lack of independent judgement – falling into Groupthink – Not having strength in your own convictions, not willing to be a minority of one.
Not seeing the risks facing the business
Failing to stand up to dominant or highly influential board members. As a board members you have “joint and several liability” you are both jointly and individually responsible for all board decision making. If you see risks, bring up those risks.
Making promises you can’t keep – not maintaining integrity in all you do and say
Not empowering employees – forgetting the power of a few encouraging words from you to any individual employee
Digital affects every area of my life, yet I am often an idiot when it comes to online security.
Hacking is not just something just for the US Government and large banks to worry about. Lots of companies and people have been hacked in 2018 with large data breaches or shutdown of their services.
A question we must all address is our preference for either A) security or B) ease of access. Most increases in security have an impact in your personal ease of access. For some lesser important services, ease will be most important. For your critical digital services (email, banking, credit cards) security might take the upper hand. For social media profiles some balance between security and ease is probably right.
I have 2 requests of you to make your (online) life more secure:
#1 Use Two Factor Authentication
The most important step for you as an individual is to set up Two Factor Authentication (2FA) for your email. 2FA is a security process in which you provide use 2 devices to verify your identity. In my case, I use my iphone as the second factor. Everywhere that gives you an option of 2FA… I’d switch it on.
#2 Use a Password Manager
…and create different passwords for every site that you use. I use Lastpass. It runs on my laptop, my ipads and my iphone. It will run on most devices.
One of my early business mentors told me “you have to be half the price or triple the value for someone to switch from their current provider”. People don’t switch from Sears to Amazon for a couple of pennies… the new had to be much better than the old.
If you were competing with yourself, or competing with your business – how would you attack? Where is that weakness? Fix that. Don’t wait for the customers to discover that someone else does it for half the price or triple the value… because it will be very hard to get them back.