Patti Cotton

Executive Coach & Career Strategist

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Are Your Business Partnerships Hurting You?

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Are Your Business Partnerships Hurting You?
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Whether you represent your own business, or you hold a corporate responsibility, your company thrives on good business partnerships.

When these are healthy, they can be powerful in helping you leverage your business growth.

But if you have a business partnership that isn’t smart, it can actually damage your business and professional reputation.

How can you tell whether yours are hurting you?

Here are Five ways to assess your business partnerships.

1. Is the business partnership purpose-driven?

Does the partnership move you closer to your vision and goals? Many partnerships are founded on fleeting fancy.

“It seemed like a good idea at the time,” bemoaned one executive. “But the energy it requires has really steered us off into left field.”

If a partnership isn’t supporting your ultimate purpose, you are choosing to compromise your endeavors for the sake of shiny objects. Time to get tough.

2. Is the business partnership a positive experience?

Is it enjoyable and easy to work in this partnership? Or does it feel like a struggle each time you interface with one another?

If you dread that next meeting or interaction, ask yourself what lies underneath. Is it simply a matter of learning to communicate differently, or are you just not a fit for one another?

3. Is the business partnership productive?

Are you seeing results from your partnering? Or is the relationship one long conversation leading to another without any real action or outcomes? If you are holding space for a business partnership that does not yield results, ask yourself why. There may be a conversation that needs to take place to see how to produce.

4. Is the business partnership mutually beneficial ?

Can the partnership equitably benefit both of you? Are you and the other party well-positioned to be able to contribute to one another?

Many a partnership has been formed out of mutual appreciation – and not because they can truly benefit one another in some kind of equitable manner. If this is your case with a particular relationship, you may want to adjust how much time and effort you devote to it.

5. Is the business partnership an edifying one?

Does this partnership reflect highest integrity? How can you trust this? If you haven’t done your research, do so before committing to the association.

Does the partnership add value to both parties? If you and the other party are “better together,” or the better for having associated, then the answer is a resounding “Yes!”

Make sure your business partnerships are smart, productive, and trustworthy – and that those who partner with you can say the same of you.

HOW MUCH

DO OTHERS REALLY TRUST YOU?

​Learn the two vital parts to trust and how they can help you become a more highly effective leader.

GET THE INFOGRAPHIC

Focus Bandits – Have You Been Robbed?

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Focus Bandits – Have You Been Robbed?
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Are you easily distracted, or are you finding it hard to concentrate?

Worried this will affect contributing your best work?

Before you get swept away in a sea of overwhelm, see if these three focus bandits are lurking in your vicinity.

If so, I’ve given some tips for you to eliminate the thieves and recapture clarity and focus so you can get going!

1. Unfinished business.

You may be carrying a stress load from unresolved conflict.

Is there a current challenge outside of the immediate work at hand that you need to resolve? A critical conversation that needs to occur?

Even more insidious is a long-standing situation that has silently eroded your focus for some time. If you aren’t sure as to whether you have any of the latter in your life, do a short self-assessment.

Rate yourself from 1-10 in the following areas:

  • Personal finances
  • Friends and family
  • Intimate relationship
  • Career
  • Fun and recreation
  • Physical environment
  • Spiritual life

With 10 being ultimate success, give yourself a score in each area. If any are less than 10, ask yourself what holds you back from a 10. The problem will emerge, and then it’s up to you to decide how you will resolve it.

2. Too many good things.

The adage, “Because I can, I do,” is bunk.

When a client tells me he or she is overworked and highly stressed, it usually comes from one of three areas:

  • Mismanagement (lack of delegating appropriately, avoiding conflict to allow it to pile up and affect the team, or other poor management practices)
  • A need to please others by accepting new assignments or an increase in responsibility without the proper support
  • Delusions of grandeur (believing you can handle it all, when the calendar shows it is physically impossible)

Do any of these feel as though they might be the case for you?

The mind needs “white space” or downtime to reflect, process, and actually follow through with the work prescribed from all those meetings we attend.

If you aren’t finding that white space in your life, it is time to re-organize. Identify the non-essentials and delegate or eliminate. You can have it all – just not all at the same time!

 3. Lack of organization, prioritization.

I find this less in my corporate clientele than my entrepreneurs, only because it is tough to wear several hats at once when you are building a business. However, this can also creep up when you are a corporate executive, and it usually occurs when you have just been handed an additional area of responsibility.

If this is you, whether things have just piled up, or whether you have accepted new opportunities, you’ll do best with formulating a 90-day plan of action to help you…

  • Prioritize
  • Identify short- and long-term wins
  • Determine the internal and external connections you need to cultivate in order to best get the work done
  • Establish a process whereby you can stay focused on the top priorities

I’ve helped many clients turn things around with this approach, and besides getting organized, the plan has kept their focus to a level that builds great credibility with others quickly.

And finally (bonus tip), here is the unvarnished truth for you who are eternal optimists:

You are fooling yourself if you use phrases that sound like, “As soon as _______ happens, I will have more time to breathe easier, capture more white space….”

If you find yourself in any of the above descriptions, you can recapture a great deal of focus and lessen your stress by simply being tough enough to create better boundaries for yourself.

It’s not always easy – but the reward is oh, so great.

HOW MUCH

DO OTHERS REALLY TRUST YOU?

​Learn the two vital parts to trust and how they can help you become a more highly effective leader.

GET THE INFOGRAPHIC

How Much Do Others Really Trust You?

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How Much Do Others Really Trust You?
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How much do others really trust you?

Most people see themselves as rather trustworthy. The problem is that your perception may not be the same as the picture others have of you.

How can you tell if you need to boost your trust factor with others?

Beth was one who excelled in competence – but something in her character kept others from feeling confident in her leadership. They just didn’t trust her.

Sure, she was capable and committed to the company. Her results were hard to beat. But when she was put in charge of a team, her CEO received significant backlash.

“I’m not saying she isn’t a great executive,” said one team member. “But she’s hard to read and she often switches gears in the middle of a project. It’s like fielding flies. How can we work with her if she doesn’t share what she’s thinking? I’m not sure I can trust her.”

What part of trust was lacking in Beth? Transparency – a vital piece to sound leadership character. Where she excelled in performance and results, she lacked the ability to share readily with others. This absence of communication led others to believe that she did not value their participation. In fact, this stemmed from Beth’s fear of being doubted in her decision-making. But that’s another article. The end result for our purposes here was that because Beth did not communicate, people did not trust her. They saw her as competent, but untrustworthy all the same.

Another executive, Jack, connected well with and respected others in all he undertook. It was clear that he held positive intent with all endeavors. This is all part of leadership character.

But Jack’s ability to hold himself and others accountable – a part of leadership competence – was woefully inadequate. As a result, Jack’s performance and that of his team was hit and miss. Because he found it difficult to stick with a plan and hold others to it, he missed several good opportunities for promotion.

You’ll see in the list below that there are indeed two vital parts to trust:

  • Affective trust – the emotional part of trust. How well are you able to create mutually-based concern for and with others? How well do you create bonds with others that feel solid and authentic? We call things relating to this part of creating trust your leadership character.
  • Cognitive trust – the rational part of trust that causes others to feel you are reliable, dependable, competent. We call things relating to this part of creating trust your leadership competence.

As you review this list, what do you celebrate about your own leadership? Where are your growing edges?

And would others say the same?

HOW MUCH

DO OTHERS REALLY TRUST YOU?

​Learn the two vital parts to trust and how they can help you become a more highly effective leader.

GET THE INFOGRAPHIC

Is Your High Performer Ruining the Company?

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Is Your High Performer Ruining the Company?
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Do you have a high performer that acts out, but you hesitate to correct him or her because he or she generates so much business for the company?

You may discover that your favored “race horse” is actually costing you more than you know.

What can you do?

I have seen this before – and if the high performer is willing, and you are ready to support the change, you may be able to turn this around.

Sam was an executive vice president who generated the lion’s share of the revenue for his organization for over five years. Leadership coined him “the race horse,” and at one time wondered if he should be the next CEO.

The customers were real fans, and Sam’s team was extremely loyal.

There was just one problem: Sam didn’t like to work with the other vice presidents or their managers. He felt they slowed his progress, which meant they weren’t consulted when he took on a new project – even when it affected their area. Sam often went around department managers if he needed help with something from one of their employees.

In the past, leadership pushed back on these other executives, worried that if Sam was asked to work with them, he would quit. However, over time, leadership noticed a growing resentment and conflict due to Sam’s work-arounds and inter-team avoidance tactics. Productivity was taking a deep dive.

Sam was surprised when his CEO introduced us, stating that he didn’t see the problem since his revenue generation was better than ever. However, since I had met with the CEO previous to this meeting, and we had quantified the loss to the organization because of Sam’s approach, the message was clear – Sam was actually costing the business a lot of money. His team and members of other teams were fighting, and turnover was on the rise.

Wanting to save his job and his reputation, Sam agreed to work with me to turn things around.

He had several great qualities, but lacked two key leadership traits that would stop his career in its tracks – the ability to empathize, seeing things from multiple perspectives; and the resulting ability to develop and nurture rapport with others for trusting relationships.

We co-created a development plan that addressed these two behaviors specifically, and worked together over the ensuing months to apply and integrate his learning so that it became a part of his nature. Sam agreed to a bold approach in this – he allowed me to help him talk to some of his colleagues and team members so that they played a part in his success. He shared that he was working on his leadership, and asked them if he could get intermittent feedback from them as to how he was doing as he and I worked together.

This paid off exponentially. Not only did Sam learn how to eliminate old counter-productive behaviors and replace them with more effective ones, he acquired some great advocates in his colleagues and teammates through his willingness to receive and use the feedback they provided.

Sam wasn’t promoted to CEO at that organization. He did get an offer, but instead, chose to accept another CEO position a few states away. I wish him well. He has earned the promotion.

Do you have a “racehorse” that does not play well with others? What might it be costing you?

Three Ways to Help Your New Employee Execute Well

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Three Ways to Help Your New Employee Execute Well
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Do you sometimes wonder if one of your managers made a mistake with their latest hire?

How can you tell?

The new hire’s transferable skills check out. Their attitude is positive. Team morale is high. And you can clearly tell the new hire is highly engaged and ready to go.

But he or she is not getting the work done.

Why is this?

There’s a handy, quick mental process I like to go through with leaders when they are second-guessing a latest hire.

Is it really the new hire, or is it your management?

Here is how you can tell.

1. Does the new employee show a clear understanding of their role, responsibilities, and your expectations?

Be careful not to downplay this. I have worked with many great companies whose new hires may receive a job description and a desk as their orientation. The manager counts on the team to fill in the blanks for the new person. If your company takes this casual stance, you are losing money and a potentially great employee.

What does the new hire’s manager truly expect of them and their area of responsibility? What are the goals set for them? Timelines? Metrics?

2. Does the new hire have the right tools and resources to do the job?

Again, most leaders will respond with an immediate “yes.” But they are basing this on what they think the employee needs to do the job. Has he or she been asked the question, “What do you need in order to achieve your goals here? Do you have the tools and resources you need?” Just test this. You may be surprised.

3. Has the immediate supervisor developed an accountability system with their new employee?

Can the employee access their immediate supervisor on a regular basis for help and questions? Does he or she get the regular feedback needed so they know they are on track? The opposite is more prevalent than you would hope.

In fact, according to one study by Dresser & Associates, HR, Payroll, and Management Solutions, only 7% of managers and 10% of senior executives in the workforce are held accountable consistently for developing their direct reports through performance management processes.

How do you compare?