How to find Opportunities (increase your Luck)

“Every opportunity is attached to a person. Opportunities do not float like clouds in the sky. They’re attached to people. If you’re looking for an opportunity — including one that has a financial payoff — you’re really looking for a person.”

Entrepreneur and investor Ben Casnocha, Source: James Clear’s (excellent!) weekly newsletter
meeting Verne Harnish 😉

My life is an example of this quote in action. The most transformational opportunities in my life have come to me through people. I would not be teaching at IESE without Brian Leggett opening the door for me… not just to teaching, but even to the idea that I might be able to teach. I would not be involved with Vistage without Verne Harnish.

In both of these cases, I didn’t even know that the opportunity even existed. I was not looking for the opportunity. It took the vision of the other person to see a path for me that I would never have seen myself.

The power of people luck is that others can often see an opportunity that you cannot see yourself.

Return on Luck (especially People luck)

meeting Jim Collins 😉

I had the privilege to meet Jim Collins a few years back in San Diego. A powerful idea that Jim has shared is “Return on Luck”. Over several years, Jim and his team investigated the hypothesis that “successful people/companies are just luckier”. They defined what it would mean for a life event to be considered “luck”:

A luck event is one that meets 3 criteria:

  1. not predictable
  2. has consequences
  3. outside of my control

Jim and his team looked at successful and unsuccessful companies, and leaders, and identified every luck event that had occurred.  They found no difference in the absolute number of luck events.

Successful People & Companies are not Luckier

There is no difference in the absolute number of luck events in the lives of successful or unsuccessful companies or leaders.

However, Jim and his team did find a difference in what happened after the luck event… Once luck happens… how do you respond?

Jim calls this “Return on luck”. Once a “luck event” has happened, there is a big difference in how successful and unsuccessful companies and leaders respond.

The luck event happens… then what?  You meet the girl of your dreams and say “Nice to meet you” or you say “I want a coffee, will you join me?”  You meet a key person in the company you dream of working for… what do you do with this moment?

When something lucky happens in your life, do you seize it and take action?  Are consistently getting prepared for future luck events in your life?

Dwight Eisenhower taught military strategy for years at West Point… when he accidentally got the chance to present his ideas to General Patton after Pearl Harbour, he had been practicing for years how to present a military strategy. He turned a chance meeting into a promotion to general, and then on to President of the United States.

Jim says that the most valuable type of luck is People luck… and knowing how to create a Return on People Luck is transformative.

How to be open to people luck? How to create a return on People luck? These are my questions…

Ingredients to increasing people luck:

  • Meet more people
  • make a better first impression
  • share your life vision in a way that others wish to help
  • bring opportunities into other people’s lives (introduce them to others, think about who and what you know that could help others, ask good questions to find out what they are seeking)
  • thank anyone that helps you (written note better than an email)
  • have a blog, youtube channel, articles, posts on linkedin that consistently clarify who you are and where you are going
  • join organisations where great people bring interesting opportunities (business schools, Vistage, EO, YPO, Rotary)
  • speak on stages at conferences
  • what else?

Ingredients to increase return on people luck:

  • learn who they are – ask better questions – become deeply curious
  • be trustworthy (the trust equation)
  • become better at demonstrating your appreciation
  • create more opportunities that you can offer to others
  • what else?

3 Recommendations from Jim Collins:

  1. Seek clarity. Clarity of speaking comes from consistently writing your ideas down
  2. Choose Excellence. Excellence is the fruit of a conscious decision and commitment to long term disciplines (that are not easy for anybody)
  3. Seek Evidence. Evidence matters (especially in living our own lives)

If you liked this post, you will also like Stand in the Traffic and Fully Committed: Success comes from Putting 20x More behind your Opportunities.

Choose your Hard (…because in Life… it is all hard)

I heard a recent Jordan Peterson video where he expounded on the concept “Choose your Hard”. This video has some of my reflections on the choice. Choosing hard today makes a difference. Not choosing hard is a choice… and it has consequences.

I love Pep Mari’s wisdom around true commitment. I shared his 4 levels of commitment in a previous video here: Pep Mari’s 4 levels of committment.

…and here is the comment on Linkedin that triggered my second part of the video: 17 habits is too hard for most people.

Great Strategy without Great People is nothing

Ideas + Capital + Talent = enduring great business.

Ideas are everywhere, nothing special about an idea.

Capital is plentiful for those who have proven themselves. Today there is so much capital sloshing around looking for moderate returns.

The Scarce Resource…

Talent, true talent… is rare.

Talent isn’t potential. Talent is systematic repeated high performance over years or decades. This is extremely rare.

Potential talent looking for capital will not find it. Capital doesn’t invest in testing talent… capital invests in proven talent.

How do you become “proven talent”?

That is the question.

Reps vs Hours

What matters most in the gym? The hours you spend or the reps on the weights?

In the areas where you must be highly competent to succeed in your role: are you accumulating hours or reps?

Do you just do your job or do you spend time practicing the important skills that make you effective?

By practice, I mean “deliberate practice” – setting an intent, taking action, getting feedback, reflecting on original intent vs actual result, seeking new approaches… and repeat the cycle.

Thinking about writing is not writing. Publishing an article and listening to reader feedback is how to do reps.

Thinking about exercise is not exercise. Lifting the weights, pushing through discomfort, sweating… is exercise.

Thinking about difficult conversations is not having difficult conversations. Having challenging conversations (for you and for the other) and seeking productive conflict is how to do reps.

Thinking generates hours, but does not generate reps.

Be careful of equating hours (or years of experience) as competence.

What are you “best in the room” at?

I heard David Meerman Scott share this question in a recent Elevate podcast episode with host Bob Glazer. He was asked by someone “Imagine you are in a room with 2,000 people. What could you confidently say you are the best in the room at?”

Take a moment to reflect on this question. I imagined myself in a room full of entrepreneurs, leaders, teachers… and wasn’t sure I could give a completely confident answer.

Now imagine that you have 20 years before you step into that room… What do you want to be able to say in 20 years that you have done the work to truly be a master, to have established a reputation for excellence, to have made a difference? Write that down.

If you liked this post, you will also like Excellence: the Path to Mastery and Finding Purpose.

How to be Happier and Productive in 2020

Original article posted at Forbes 20th January 2020 How to be Happier and More Productive in 2020.

I’ve spent the last 16 years working with CEOs and entrepreneurs to help them get clear on their purpose, get great people around them, execute their decisions and enjoy their life in the process. 

The fact that you are reading this indicates that you are purposeful. The challenge for leaders is how this effectiveness leads to an enhanced quality of life.

How to be happier and more purposeful in 2020 and beyond

Author and Harvard professor David Maister says “success is enjoying your life. If you don’t enjoy what you do, the company of the people you do it with, and the impact you are making in the world… it cannot be considered success.”

A happy life is not the absence of pain. In achieving anything of significance: pain is guaranteed, but misery is optional. Anyone who has climbed Everest has been through a lot of pain. All significant achievements of meaning require the willing acceptance of the pain necessary to make the journey, to do the work, to learn the skills. 

7 mindsets that connect a purposeful life to a happy life

  1. Think about what you can achieve in 10 years, not in a week. We so underestimate what we can achieve in a decade, and we so overestimate what we can achieve in a day or a week. Shift your focus to what you can achieve over the next decade. Where can your health, your relationships, your financial wellbeing, your skill mastery be in a decade? It is far more inspiring to see a decade of achievement than a weeks worth of tasks.
  2. Think in terms of who you will become (character), not what you will have (possessions.) I have been running leadership retreats for many years now. As we come to the end of any year, one of the questions that I ask leaders to reflect and share during the retreat is “what three words represent who you will become in 2020?” It forces thinking about how I will be, rather than what I will accomplish. My three words for 2020 are Generous, Focused and Kind. What three words would you choose?
  3. Think in terms of process goals, not results goals. I spent over a decade leading sales organisations… and we are taught not to let sales people share results, but activity. A results goal could be to grow my business by 20%. A process goal is to make two more calls per day. A results goal is to lose 10 kilograms. A process goal is to leave two bites unfinished on every plate.
  4. Think about changes in your environment, not your willpower. If you want to eat less chocolate, don’t have it in your home. If you want to do more exercise, put your sports gear on as soon as you wake up. If want to use Facebook less, delete the app. High performers don’t have greater willpower, they remove the distractions from their life.
  5. Don’t negotiate with your excuses. As soon as you decide to take any action, your mind will come up with reasons why not to do it. Don’t engage in this discussion. Your excuses have access to all of your intelligence and they will win. 
  6. Fix the little things, and the big things can take care of themselves. Over the last 3 years I’ve had a habit of noting down each afternoon my “love/hate” list. I note everything that has added to my enjoyment of life on the left, and everthing (and everyone) who has detracted from my life on the right. It is often small things that detract. I have acted to remove anything that consistently appears in my “hate” list from my environment. 
  7. Think why, who, how… not what, when, how…. In every Vistage CEO decision coaching process, the first question we ask is “why is this important to you?” And we will stay with this question until we truly understand why… before we move to who can help and how to execute. Start with why. Do what is important, not what is convenient.

Do you have Weekend Friends or Mid-week Friends?

David Brooks has career success, but in this TED talk he shares how he found himself empty. 5 years ago, his wife left, his kids had moved out… and he discovered he had nothing to do outside of work. He had mid-week friends, but he had no weekend friends.

Success in career is not success in life.

Individual happiness is transient and empty.

David’s 2 antidotes:

  • Commit to People. Achieving individual freedom is nice, but the our life needs committed connection to others… to not be free.
  • Chase Joy not Happiness. Joy comes when our ego dissolves in the pursuit of something bigger.

“Suffering breaks some people, and breaks some people open”

This post-divorce loneliness crisis led David to explore a deeper way of connecting to others. He began to lose his individual freedom in order to commit to other people.

Our society is in the midst of a social crisis: we’re trapped in a valley of isolation and fragmentation. How do we find our way out?

“Joy is not the expansion of self, it is the dissolution of self.”

Check out David’s full TED talk below:

Why Business Leaders Hire Coaches

This list is Conor’s “Sunday afternoon in a coffee shop brain dump” of reasons why Business Leaders seek the support of an Executive Coach or Mentor either independently or through an organisation like Vistage.

I’ve been working on leadership development for over a decade through my roles at IESE Business School, Entrepreneurs Organisation and Vistage.  I’ve come across hundreds of coaches and thousands of business leaders who have benefitted from the support of a coach.

  1. I have a specific need
    1. I regularly fail to achieve results (typically in one specific area)
    2. I want something specific (a promotion, more money, get fit, better golf handicap)
    3. I am frustrated at myself and nothing seems to be working
    4. I cannot relate effectively with somebody (children, parents, boss, team mates, senior leaders, wife/husband/girlfriend/boyfriend)
    5. I’m having a conflict with a colleague.
    6. I am burnt out/overwhelmed and need to release some of the pressure
  2. Someone Else tells me that I Need a Coach
    1. HR assigns coaches to all senior managers
    2. HR puts me on “fast track”
    3. HR identifies me as “needs improvement” but valuable enough to make the effort
    4. My friend/wife/husband/boss has told me that I have to make changes
  3. Conditions change
    1. I have been fired or my job made redundant
    2. I start a new business
    3. I change career path or change company
    4. I need new skills for my role (public speaking, writing, leading, managing others)
  4. I am Stuck
    1. I don’t know what I want (but I know that where I am now is not it)
    2. I have been passed over for promotion
    3. I need some help advancing my career, my career trajectory has hit a plateau.
    4. I feel bored with my life
    5. I feel that my improvement has stopped in an area of passion (golf, tennis, fitness)
    6. I feel that I am missing out on life (FOMO)
  5. My Leadership is Ineffective
    1. We don’t have a strategy.
    2. It takes too long to get things done.
    3. Turnover is high.
    4. My employees do not take responsibility for results
    5. The leadership team is not moving in the same direction.
    6. I need to take my Leadership Team or my Board to the next level.
  6. I want to “Win”
    1. I want to achieve something that will give me a sense of winning
    2. I want to increase my life challenge, I want to avoid complacency
  7. I want to be Inspired
    1. I wish to experience an excellent role model
    2. I want to see how you coach/lead me, what techniques you use
  8. I want Validation
    1. My self-worth depends greatly on external validation
    2. I lack a strong group of supportive friends
    3. I lack a trusted confidante who will be fully honest
    4. I need clear, objective and usable feedback

The Coach’s Perspective on Executive Performance

 

What about you?  Have you ever worked with a Coach?

What other situations or triggers would cause someone to see out Executive Coaching?  What is missing?  When have you sought out coaching?

Standing out from the Crowd: If you are going to be Different, Execution must be Excellent

This video is from Bilbao in front of the Guggenheim Museum. I was in Bilbao for the launch of Vistage in the region.

In my courses I often have participants who hate following standard processes. Sometimes this is a good thing. When you decide to break the rules, you better do your homework and preparation so that what you deliver is excellent. Too often, “creative” people break the rules of structure… but don’t do the necessary work to be excellent in delivery.

If you liked this video, you might also like Performance Excellence: Deliberate Practice and the 3 Models of Mastery and Self Discipline will make you a Better Leader.

Freedom is difficult, but be careful of wishing for fences

Be careful what you wish for… In the Zoo, the animals are safe in their cages, they are fed 3 meals a day, the fence keeps out predators and competition (isn’t that what Trump promised?).

We have to be careful what we wish for.

Freedom comes with a price, and that price is called responsibility. We need to practice the responsibility that allows us to deal with true freedom.

From Peter Drucker:

“The Nature of Freedom

Freedom is never a release and always a responsibility.

Freedom is not fun. It is not the same as individual happiness, nor is it security or peace or progress. It is a responsible choice. Freedom is not so much a a right as a duty. Real freedom is not freedom from something; that would be licence. It is freedom to choose between doing or not doing something, to act one way or another, to hold one belief or the opposite, It is not “fun” but the heaviest burden laid on man: to decide his own individual conduct as well as the conduct of society and to be responsible for both decisions.”

If you liked this, you will like reading Freedom is Not Fun.