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How to Bring a Dream to Fruition in 3 Critical Steps

April 26, 2017 By Patti Cotton Leave a Comment

Last week, I shared how my father lost one million dollars and was forced to bankrupt his corporation – all due to the absence of one critical conversation.

If you haven’t seen that part of the story, click here.

Of course, that chapter is a just a snippet of a much larger success story, because the devastation of the loss of funds and ensuing fire sale of Dan Cotton’s business is not the end of this tale.

In fact, my father has always a knack not only for landing on his feet (sometimes literally!), but also for creating abundance that has made a significant impact in the world.

At age 32, he developed the beginnings of a healthcare empire by applying three critical components to create the system that thrives, today.

Most people apply one or two to generate some success, but rarely does someone pull off all three to actually create a legacy of great impact.

Vision, strategy, and execution.

Sound simple? Think, again.

Vision

Dan Cotton started with a vision. He envisioned a retirement and convalescent home that would provide not only healthcare, but the love and warm feeling of family. He had always appreciated and respected the elderly, and saw an opportunity to support them with dignity and care.

It is here that a majority of professionals in leadership positions fall short. In fact, many company CEOs do not lead; they are secretly glorified project managers. Their focus is inward and they get stuck in minutia – a state which is ultimately fatal to business health. Leaders, on the other hand, are outward-thinking. They watch for trends, anticipating needs and making powerful connections in order to keep the business vibrant and sustainable. Yet, keeping the vision in front while managing the daily requisites of business is no small feat.

What is your vision for your business? How does your healthy, thriving business make an impact and contribute to the world?

Strategy

Try to get funding at age 32 to develop such a healthcare complex – to manage builders and permits, recruit physicians and staff, market for clients, learn about compliance, and about a million other things! Dad had been a university theology professor prior to this endeavor. So he had to perform diligent research, lay out all the pieces and assemble them into some kind of plan, network, exert influence to get things done, and find funding without a firm business track record.

At any point, the enormity of this project could have pressured him to fold and return to the university, where his future was safe and sound. But my father is a calculated risk-taker and full of drive. Combined with his strategic eye, he hung in there; and because of this, he met with success – and it paid off.

How is your “strategy quotient?”

This is your ability to see all the pieces that need to come into place, and how to place them so the plan works. Are you relying on others to come up with strategies and direction? What needs to change?

Execution

Here is where the rubber meets the road. Many business leaders are stuck in visioning and planning, and successful execution eludes them. Dad knew how to orchestrate the complex pieces that were required to develop and operate the healthcare system. There were many nights when he dragged home wearily, yet he would continue to work in his study before falling to sleep for a short time, only to do it, again. Perseverance, tenacity, grit – this was him. And it paid off. In a world where most new businesses fail, he pushed through. And succeeded on a major scale.

How high is your “execution quotient?”

This is your ability to get things done. Are you making effective decisions and taking timely actions? Is any part of your business lagging or waiting on you, due to inaction on your part? What needs to change?

In sum, there are just three simple steps to creating a legacy of impact: vision, strategy, and execution.

Where are you in this process?

And what do you need next in order to succeed?

Patti Cotton helps executives optimize their effectiveness in leading self, others, and the enterprise. Her areas of focus include confidence, leadership style, executive presence, effective communication, succession planning, and masterful execution. With over 25 years of leadership experience, both stateside and abroad, Patti works with individuals, teams, and organizations across industries, providing executive coaching, leadership development, succession planning, change, and conflict management. She is also a Fortune 500 speaker. For more information on how Patti Cotton can help you and your organization, click here.

Patti Cotton

Patti Cotton reenergizes talented leaders and their teams to achieve fulfillment and extraordinary results. For more information on how Patti Cotton can help you and your organization, click here.

3 Things a Leader in a New Role Needs to Know

March 15, 2017 By Patti Cotton Leave a Comment

Congratulations! You did it. You got the position, the title, and the salary telling you that you have arrived.

They gave you the team and the commission to change the world.

But did they tell you that you aren’t really in control?

That your hard-earned expertise is now for naught?

What do you do, now?

If you’ve done your research, you will have put together a game plan, and you are working on your “first 100 days” in office. You will be gathering and triaging information, building your new tribe, identifying short-term wins and long-term wins – the whole enchilada.

And this is absolutely necessary for so many reasons – you’ll be closely watched by those who chose you for the job. The two times they look most closely are during the first three months of your tenure, and at the end of your first year. A lot of judgment is going on. For you, these days are also critical – you need to quickly build trust with your team, identify and forge your operational network, and above all, avoid political landmines…

But – here are three things that you may not hear, and that you need to know right now:

1. What got you here won’t get you there.

You have been recognized for your success to this point. You were in charge of a certain area of responsibility, and that landscape has now changed. By extension, it’s important to know that your present knowledge base may no longer be useful – that the reasons for which they promoted you are not necessarily the reasons that will help you succeed, now. Your operational network – the network that helps you to get the job done – will now change. And even if you are highly skilled at spinning multiple plates, you will now need to develop the ability to manage the new, different pieces that this promotion brings. In short: ask yourself what the new pieces are – which are “need to manage,” “nice to manage,” and simply “nice to know.” Keep it streamlined.

2. You aren’t in control – but you are in charge and therefore accountable.

It’s a changing world, and therefore a lot of external factors exist that you cannot control, both in the marketplace, and inside your company. Strategies and tactics will come and go as the company attempts to keep up and remain viable. To be successful so that you do your part to help the enterprise remain profitable and sustainable, you will need to re-examine your own beliefs and how you manage your environment. Why? Because at the end of the day, you can blame the externals for failure, but you are still accountable for what you did to help your area succeed. In short: don’t make any assumptions. Ask questions, stay abreast of trends and what is required to meet this – and ask yourself how this affects you, your team, and the company.

3. Your best game is only as accountable as your weakest link.

Get to know your team, its strategies and ways of operating, and be candid in asking them what has worked in the past, what has not worked, what could be better. Ask them where the team as a whole hesitates – what team behavior holds them back from their best envisioned performance. Ask them what tools and support they need to do their best work. Many team action plans are stuffed away in drawers, unused, because of counterproductive behaviors that keep these from reaching set goals. And many of these counterproductive behaviors are due to not having the resources and tools to do their best job. In short: find out what they feel they need to excel.

Here’s to a successful next professional chapter for you!

Patti Cotton helps executives optimize their effectiveness in leading self, others, and enterprises. Her areas of focus include confidence, leadership style, executive presence, effective communication, and masterful execution. With over 25 years of leadership experience, both stateside and abroad, Patti works with individuals, teams, and organizations across industries, providing executive coaching, leadership development, change, and conflict management. She is also a Fortune 500 speaker. For more information on how Patti Cotton can help you and your organization, click here.

Patti Cotton

Patti Cotton reenergizes talented leaders and their teams to achieve fulfillment and extraordinary results. For more information on how Patti Cotton can help you and your organization, click here.

Fast-Tracking Your Way to the Top

November 23, 2016 By Patti Cotton Leave a Comment

Do You Need a Mentor, Sponsor, or Coach?

You know you have what it takes to succeed, but you’d like to move a little faster to get to the top.

Getting help is the smart thing to do – but what kind of help do you need to get there?

Liz was in middle management, but she was bored with her area of responsibility and wanted more out of her career. She knew she was talented, but, although others always complimented her on her work, they didn’t seem to recognize she had more in her – at least, they didn’t say so. However, she was convinced she could contribute at higher levels, if just given the right opportunity. She also knew she could go a couple of directions in the company with her professional background and experience, and wondered which path was right for her.

One day, Liz shared all this with a couple of close colleagues.

“I’m ready for more – but no one has called me into the executive suite to say I’ve won the prize promotion. I know I can do this. How do I get the help I need to get there?”

“Get a mentor,” said Jackie. “Mentors are supposed to give you direction to help you get there, aren’t they? They can give you pointers on specific technical skills – I had one once that taught me how to better analyze financials, and that really helped the way I was able to strategize. Mentors can also put you in touch with other people in the industry to widen your networks and such. So they are a kind of career guide and connector. That has to be good for your career.”

“No, wait,” said John. “I’ve been reading about sponsors – some people call them champions. They are supposed to be better than mentors, aren’t they? If they decide you have more in you, they commit to positioning you with others in high places, and go around talking positively about you. They influence others to take a look at you, and they can volunteer you for projects that will show off what you can do. It’s kind of like the ultimate PR agent with clout.”

“Hey, I’m not sure either of you are right,” piped up Sandy. “My boss hired an executive coach who got her straight into the C-suite. They worked on the way she communicated so that she showed more confidence, instilled more trust – even sharpened her influence skills. And they worked on her decision-making, and how she led her team so that it went from mediocre- to high-performing. It really showcased her abilities.”

“Hmmm…,” said Liz. “It may be that I need all three. Let me reflect on this – stay tuned for an update, people!”

After careful thought, Liz sought out a well-known leader in the industry who happened to live in the area. She explained what she was doing, and that she needed some advice on her career path. This leader met with her, helped her to look at trends within her industry, and offered to connect her with people who could talk about career possibilities within her focus.

Liz then thought about seeking a sponsor. However, the sponsor relationship is usually initiated by the sponsor, and Liz knew she had to stand out before she asked for someone of influence to go to bat for her in the organization.

So she hired a coach. “You don’t know what you don’t know,” she thought. Her executive coach reviewed her career goals with her, and then suggested assessing how she led herself, others, and the enterprise (her area of responsibility). Together, they pinpointed some critical areas for improvement – ways of being, relating, and doing that would help her to showcase to others the exceptional talent she was. Liz and her coach worked over the next several months, and it paid off – someone higher up in the organization reached out to ask about her career goals, and to share they would like to help her get there.

Who’s in your court? And who needs to be?

For a free informational guide to help you determine your best resource for help based on where you are right now in your career, click here.

Patti Cotton helps women executives optimize their effectiveness in leading self, others, and enterprises. Her areas of focus include confidence, leadership style, executive presence, effective communication, and masterful execution. With over 25 years of leadership experience, both stateside and abroad, Patti works with individuals, teams, and organizations across industries, providing executive coaching, women’s leadership development, change, and conflict management. She is also a Fortune 500 speaker. For more information on how Patti Cotton can help you and your organization, click here.

Patti Cotton

Patti Cotton reenergizes talented leaders and their teams to achieve fulfillment and extraordinary results. For more information on how Patti Cotton can help you and your organization, click here.

Why You Need Your Emotions for Rational Decision-Making

November 16, 2016 By Patti Cotton Leave a Comment

We spend a lot of our lives learning to master emotions. Sometimes they overcome us, and we goof things up. So we try to discount them or put them aside in an effort to be more rational in our decisions and actions.

But discounting or ignoring emotions isn’t really mastering them. You need your emotions in order to make your best decisions. Sound counter-intuitive?

In my work with high-potential female executives, I find quite often that these women have shut off their emotions, feeling these get in their way. Often, they have been told they were being too emotional in a certain situation, or they have found themselves overwhelmed with feelings when confronting a critical scenario, and it kept them from moving forward. Somehow, these women decided to shut off the “feeling part” of themselves in order to execute and get ahead.

Bad move.

Emotions are meant to trigger or alert you to something. When you ignore these, negative consequences are in store, not only for yourself, but for the way you are able to work with others, and ultimately succeed.

So how do you manage your emotions so that they actually help you get ahead?

There are three steps to managing and bridging your feelings so you can support your best thinking and actions:

1. Recognize the emotion you are feeling in a situation.

This may sound easier than it is. I once coached Sandy, a member of her company’s C-Suite, who could only name two emotions that she felt – anger and fear. Because of this, she continuously operated from the “fight or flight” part of her brain – high stress, and low reasoning. As a result, her decision-making suffered. We spent a couple of months helping her to identify and expand her lexicon of emotions as I coached her on how to handle specific situations. Why? Emotions are “gut triggers.” It means, “Hey, something is up, here! Pay attention!” This allowed her to move from a “fight or flight” mode to the reasoning part of her brain.

2. Decide how you want to manage the emotion.

Recognizing what emotion you are experiencing in a certain situation allows you to ask yourself how you would like to handle it. Just because someone has angered you doesn’t mean you need to express your anger. It means, instead, that you can ask yourself why you are experiencing this, whether it comes from a bias or is relevant and appropriate to the situation, and what you want to do behaviorally because of your reflection. This process puts you in charge. Once Sandy could identify the emotion she was feeling in a certain situation, she was able to reason more effectively, asking herself what this emotion was telling her, and whether this was viably related to the decision or situation at hand.

3. Allow your emotional self to collaborate with your rational self.

When you have checked in with yourself as to why you are feeling a certain emotion, where it comes from, and how you want to handle the emotion, you have made space for your rational self to join at the table. Having recognized how you are feeling, what the emotion is telling you, and deciding how you want to handle the emotion, you can now ask yourself to identify the real issue at hand so that you can resolve it most effectively. Sandy discovered that a colleague had undermined her to her staff. When she stopped to recognize how she felt about this, how she wanted to manage it, she then felt much more in control of how she dealt with the situation. Instead of operating from her “hot buttons” as she would have done in the past, she was able to discuss the issue calmly with him, and worked to resolve things.

How do emotions affect the way you work? Join us for our LinkedIn discussion and share!

Patti Cotton

Patti Cotton reenergizes talented leaders and their teams to achieve fulfillment and extraordinary results. For more information on how Patti Cotton can help you and your organization, click here.