Patti Cotton

Executive Coach & Career Strategist

successful

How to Bring a Dream to Fruition in 3 Critical Steps

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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.

When “Just Do It” Doesn’t Work: Testing Out of Fear

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How do you move past fear?

You don’t.

You get underneath it.

You get underneath the fear to the faulty assumptions that are driving it.

Underneath every instance where your confidence falters, or wherever a fear surfaces, there lies a hidden set of faulty assumptions that acts like glue to keep this fear intact.

Ready to break through?

I work with successful executives and business owners who are ready to step into a next level of success. A lot of times, they engage me because they have an incredible vision for their future or special project, or they have just assumed a new and larger role. These scenarios require bigger ways of thinking, acting, and doing, and even the most confident people will find themselves stalled by fears they didn’t realize would emerge.

A client I will call Mara asked me to help her make the move from being a very successful attorney to founding her own consulting firm. This was a major decision for her, but she was convicted and passionate about the change. She had already done all the homework – researching the need for services, defining the value she could bring to the client, weighing the costs and benefits this move would have on her financial future, identifying resources and connecting with key mentors for the help she would need, and putting together a plan of action to actually build the business.

But she called me for support because she couldn’t seem to move forward in working the plan. Specifically, Mara was afraid she would fail as a business owner. Even though she had gone through the planning steps that would support her success, she still feared she would not make it.

I asked her what was behind this fear, and Mara’s faulty assumptions were then revealed.

“Mara, what are you afraid will happen if you fail?”

“Well, other people might think I don’t have what it takes as a business person.”

“Mara, what are you afraid is going to happen if that happens?”

“Well, if others think I don’t have what it takes, I will lose credibility and no one will engage me.”

“And if that happens?”

“Then I’ll lose my home and be homeless – and others will have to take care of me. I will become a non-person – no worth.”

And there it was – the underlying faulty assumption that held Mara back. She feared she would become a non-person, a person of no worth. This was the glue that held her fear together.

“Mara, is it really true that if you fail in business that you will become homeless and of no worth?”

“Well, no – I have a good savings, and a corner on my specialty within law. I could always return with no problem. You know – it’s weird!  I didn’t know that underneath all this was a fear that I would become a non-person. That’s not true!”

And yet, this was what was holding her back – the story she told herself, made up of a subconscious set of faulty assumptions that held her fear together like glue.

“Then, how do you get rid of the fear?” Mara asked me. “Because I can tell you that the old Nike adage, ‘Just do it!’ does not work for me.”

“Here’s what you do,” I answered. “You change your story to get rid of the fear. To do this, you don’t confront the fear – you confront the assumptions.”

Confronting the assumptions is confronting the story you are telling yourself, because it is the story that keeps your fear intact. Confronting your assumptions asks that you experiment with scenarios to see if your story is true. But contrary to the adage “Just do it,” by confronting the fear, confronting assumptions to break through fear is more powerful and effective.

Let’s say that you tell yourself that you are afraid to jump in the water because you assume the swimming pool is too cold to get in and swim. So the story you tell yourself is that if you jump in, you will catch a chill and be miserable. If you are miserable, then you will have to stay at home and nurse a cold. And if you stay at home to nurse a cold, you will miss out on all the fun planned for the weekend. And if this happens, well…(you see what I mean!).

To begin testing out of these faulty assumptions, you walk to the edge of the pool. You dip the tips of your toes in the water to see if your foot will be okay with the temperature. It may be a little chilly, but once you see that the toes are fine, you put a bit more of your foot in and go through the same exercise, asking yourself if you are okay. Eventually, you are in the pool up to your neck, enjoying a swim, sun on your face, and wondering why you ever feared the water temperature.

What you are doing throughout this exercise is to stretch your level of comfort bit by bit, pausing each time to observe to see whether your assumptions are true or not. In doing so, you test out of these assumptions by proving them wrong. Once you do this, your mind tells itself a new story. “Hmmm…  I guess I don’t need to fear this fear anymore – it was completely unfounded.”  So an hour later, if you choose to go back for another swim, you will simply jump in this time, total body. No more fear.

So how did this process work for Mara?

Mara and I devised a plan that incorporated several critical testing points as she moved forward to found her own business. And the results were that over the next 9 months, she was able to cultivate several prospective clients and to secure contracts that would support her over the following 24 months. She gave notice at the law offices, and jumped into her own consulting firm full-time.

“I can’t believe I was afraid of failing,” Mara told me. “Granted, building a business can be extremely challenging – but it’s so rewarding, too. I realize through having cultivated those clients, I am quite capable.”

How about you? What fear is holding you back? What story are you telling yourself to keep this fear intact? Join us on LinkedIn to share, and for more discussion.

 

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.

Three Ways to Make It Easier to Succeed in 2017

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Are you going to succeed in reaching all of your goals this year?

Most of you are reviewing your 2016 goals, and wondering how you can make a mad dash to the finish line. And you are probably asking yourself two questions:

1. Can you do it and keep your sanity, and

2. How can you make 2017 easier?

I know this, because many of you are e-mailing and calling me.

Whether you will reach your goals this year or not, it still feels like a big push to December 31st. And you are tired of feeling pressured to do more at the busiest time of year.

Are you ready to make things easier in 2017? It’s not too early to begin shifting your planning and thinking – if you want to feel more ease and spaciousness the next time around.

Here are three ways many fine executives and other professionals unwittingly make it harder for themselves to achieve their goals – and how you can do differently.

1. You recycle this year’s plan by simply putting next year’s date on it.

The obvious question here, is, did the plan work well for you? If it didn’t, why not? What needs to change or shift? Are you blaming external causes? Using poor strategies? Or are you unable to stay on track due to other factors? If you haven’t met all of your goals, don’t make the mistake of just changing the date on the document to 2017 and try, again. Instead, reset goals according to where you are now, what you have learned, and best strategies that work for you. Then ask yourself what got in the way this year, and decide how you will handle this. Because things won’t change if you don’t change them.

2. You haven’t cut the energy-wasters and other riff-raff out of your life.

You know what I mean – all the stuff that is getting in your way. Some of what you are consumed with is outside your control, and you are still allowing it to take headspace. This will keep you from your best performance. Other things you may have allowed to get in the way of meeting your goals are commitments you have made to projects or relationships that aren’t really positive or fruitful. Do a quick analysis of what has been getting in your way – and make some hard decisions.

3. You aren’t investing in yourself.

This is something I see in more women than men. Why? Women are prone to investing in ourselves last – putting the company, causes, and our families before taking care of the instrument that generates income. Yet, best-kept secret – in various studies, up to 80% of successful male executives have an executive coach to help them get to that next level. Here are two main reasons you haven’t invested in yourself:

      1. You secretly don’t think you are worth the investment. I have a “Judge Judy” response to this: either stop wasting your time setting goals that are impossible for you with this present mindset – or get some help to bring your self-worth up to a healthy state so that you can get what you want and enjoy it. Don’t let failure and “wish I had” become main threads of your story.
      2. You feel you can succeed by yourself, and do it very well. You don’t invest in yourself because you don’t think you need any help. I have one question: how has this approach been working for you? Are you where you want to be? Or is it costing you too much to get there, in emotional energy, relationships, family? What would it be like to succeed and enjoy the ride?

Successful executives and other professionals invest in themselves because they want to step up into that next level of success, and do it with ease and joy. They are ready to make the journey worth the effort.

Are you excited about 2017? What will you do differently to enjoy the ride and succeed? Join us on LinkedIn to share, and for more discussion.

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.