When Passion Impedes Purpose
Monday, November 10th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
When passion impedes purpose…an interesting title, but is it really possible for passion to impede purpose? Isn’t passion a good thing? Sure, in most cases passion is an asset that will carry you though tough times, sharpen your perspective, and help you succeed in the face of overwhelming odds. That being said, I’ve also witnessed passion run-a-muck and cause untold harm. It has been my experience that passion only becomes a barrier to success when it is misunderstood and/or misapplied. So, in today’s post I’ll examine the downside of unbridled passion, so that passion can remain an asset, and not end-up becoming a liability for you or your company….
Workforce Reduction…
Thursday, November 6th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
Workforce reduction is not an operating strategy…Regrettably, tough economic times are often the precursor for ushering in massive rounds of corporate downsizing, rightsizing, layoffs, corporate restructurings and the like. Reducing headcount in an economic downturn is almost a Pavlovian response for many executives. It’s as if workforce reduction is priority number one in some corporate operating rule book. Here’s a news flash…in the 212 pages of my book “Leadership Matters…The CEO Survival Manual,” nowhere do I espouse an unplanned mass reduction in labor as a brilliant business move.
Transitioning the CEO
Monday, November 3rd, 2008By Mike Myatt, Chief Strategy Officer, N2growth
Today’s Myatt on Monday’s question comes from a board member who asks: ”Our current CEO is underperforming against expectations…How does the board know when it is time to transition the CEO?” While it is refreshing to hear a board member paying attention to CEO performance, the decision to replace a CEO not only requires a complex analysis, but the wrong decision will have far reaching consequences. In today’s post I’ll share my thoughts on the right reasons to transition the CEO…
Leadership vs. Management
Tuesday, October 28th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
As a top CEO Coach I can tell you without any doubt that Leadership is different than Management. While there seems to be a never ending stream of politically correct pontificating in corporate circles about the differences between managers and leaders, most of it misses the mark. Leaders and managers play different roles, and have different purposes. They both are unique in their value, and in their contribution. While most of the commentary I have read on Leadership vs. Management attempts to please all constituencies, those of you who have read my work in the past know that I am rarely politically correct, nor do I ever seek to try and please all the people all the time.
Effective Compensation Plans
Monday, October 20th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
“Can you provide any tips for modeling a winning compensation plan?” is today’s Myatt on Mondays question which was asked by a CFO of an Internet marketing company. While certainly a great question, I must admit that I have been reluctant to address the topic of compensation in previous posts as compensation theory is not only complex, but it often varies greatly based upon the situational realities of different workplace environments. That being said, there are definitely key elements which serve as the foundation for any well designed compensation plan which I’ll cover in today’s post…
Key Employees
Thursday, October 16th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
What is a key employee, and who is worthy of such a title? Much has been written on the subject of retaining key employees, and in my opinion most of it flat misses the mark. In fact, I’ll go so far to say that key employees are not really assets, but rather large contingent liabilities. If you have stooped to the level of paying retention bonuses, or find yourself otherwise being held hostage by those employees who feel like they are indispensable, you are only exacerbating the problem. I’m not disputing the need to retain talent and reduce turnover, but I am vehemently disputing the conventional wisdom of how most businesses address the risk of managing key employees. In today’s post I’ll give you a fresh perspective on the age old dilemma of how to deal with key employees…
Resourcing 101 for CEOs
Tuesday, October 14th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
All great CEOs understand in the concept of creating leverage via proper resource allocation. Top CEOs know how to create resources where none exist, and to deploy and redeploy resources to maximize opportunities and to minimize risk. So my question to you is this…are you over-resourced, under-resourced, resource aligned, or do you even know? In today’s post I’ll look at the topic of resourcing as a key success metric for CEOs…
Who Do You Trust?
Friday, October 10th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
Who do you trust? This is a simple enough question, but nonetheless, one worthy of consideration. The realty is that trust leads to respect, and it is impossible to thrive as a leader absent establishing trust and respect with those under your charge. One of the hallmarks of great CEOs is their ability to create highly productive executive teams. However it also goes without saying that getting senior executives to “play nicely” with one another can also be one of the greatest challenges for CEOs. In today’s post I’ll briefly examine one of the obvious, but often overlooked tenants of team building…establishing trust and respect.
Accountability
Wednesday, September 24th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
While yesterday’s post addressed “Rogue CEOs & Board Accountability,” I felt that a follow-on piece further delving into the topic of accountability would be prudent given what the lack of accountability has done to our nation’s economy. The truth is that few people really likes to hear the “A” word applied to their individual circumstances, choices, decisions, and performance. Regrettably, this is precisely why we are embroiled with many of the daunting challenges facing our country today. Nothing keeps personal and corporate train wrecks from occurring more than a solid framework of accountability. In today’s post I’ll examine the many important benefits of accountability…
Intellect…an Asset or Liability?
Friday, September 12th, 2008By Mike Myatt, Chief Strategy Officer, N2growth
My question is this: Is your intellect and asset or liability? All one has to do is watch a very bright person defend their position to understand what I’m driving at with today’s post. Observing intelligent people lecture, spin, posture, position, cajole, rationalize, or justify their beliefs in order to “get the win” is often times entertaining, but it can also be exceedingly frustrating. I’ve come across more than a few self-proclaimed “intelligent” people who believe that their intellectual acuity is superior to the discernment ability of their peers and co-workers. Not only are these intellectual giants wrong, sadly, by the time they awaken to a state of reality it is already too late. In today’s post I’ll share the keys to leveraging your intellectual assets as opposed to having your intelligence serve as a barrier to your success…