succession planning

Does Your Leadership Suffer from the Bandwagon Effect?

May 19, 2021 By Patti Cotton Leave a Comment

Are you following the crowd when it comes to the way you lead? You may not think so.

However, if you are like most leaders, you may unwittingly suffer from “the Bandwagon Effect” without knowing it.

The Bandwagon Effect is a cognitive bias that can cause us to think and act in certain ways if we believe others are doing the same.

My father had a different way of describing it.

“Monkey see, monkey do, Patti,” he would quip.

Does any of this sound familiar?

1. Do you react to the current conditions that affect your business, rather than anticipate and plan for change? Or do you hesitate to adopt new practices or approaches until you see others doing this with success?

Learning to read the business landscape and anticipate with confidence and action enables you to lead out in front. Otherwise, you will be left behind.

2. Are you shortchanging the development of your own leadership?

It’s necessary to stay relevant and sharp. Reading the latest books everyone else recommends, as well as attending recommended conferences and industry meetings is important. But do you take a systematic approach to developing your personal leadership? Intentionally targeting and working on your personal blind spots and growth opportunities is key to operating at your best.

3. Are you missing an accountability mechanism for your leadership development?

The Bandwagon Effect would reflect that you rely on your board or your colleagues, holding you accountable for business outcomes. But who supports you rising to your potential in the way you lead? Be sure you have a confidential “internal board of directors” for this, comprised of leaders who have your back, understand you and your business, and invite you to take responsibility for your growth.

Where does the Bandwagon Effect show up in the way that you lead yourself and your business? I challenge you over the coming week to carefully examine the way you make decisions and take action to see where you can break away and get out in front.

© Patti Cotton and patticotton.com. All rights reserved. Unauthorized use and/or duplication of this material without express written permission from the author is strictly prohibited. Excerpts and links may be used, provided that attribution is made to Patti Cotton and patticotton.com, with links thereto.

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.

The Untapped Potential of Your Middle Management

May 13, 2020 By Patti Cotton Leave a Comment

You can quickly improve the organizational health of your company by focusing on the potential of your middle management.

But if your culture doesn’t recognize this as important, you are headed for trouble.

How do you redirect so that you strengthen your future?

Three steps.

Make leadership development a high priority.
Know how to develop your emerging leaders.
Address prickly roadblocks that stand in the way.

Following are three real scenarios from former clients.

I hope these help you to see where you might improve your own process and mindset.

1. Make leadership development a high priority for your organization.

Tom had led the company for years, and it had done well. Then, he was diagnosed with a heart problem. Although the prognosis for recovery was excellent, his doctor informed him that he would have to take off a considerable amount of time in order to work a wellness program.

The company was in a bind when Tom called me. He had never gotten around to putting a system and process in place to develop those high potentials who might have stepped in to help bridge the gap.

Now what?

If he left to care for his health, the business would be in trouble. If he didn’t, he would seriously jeopardize his health.

Tom and I worked together on an interim plan to support his absence, and a way to stay in communication with him on the large-picture items.

I then coached his executives to the plan as they stepped into the new responsibilities assigned to them. I also helped coach them as a team on a regular basis to keep things cohesive and smooth.

However, this was challenging. The executives all experienced steep learning curves, with corresponding bumps in the road, which presented some tense moments. We worked through it, and Tom was able to return some time later. Quite happy that we moved through this critical time, I shared with Tom that the company could have experienced a much smoother and more effective transition, had he worked with his HR department to implement an ongoing plan for leadership development.

2. Know how to develop your emerging leaders.

Rebecca ran a tight ship. She, along with her executive team, believed fully in leadership development, and they approved large budgets year after year to support succession planning. But they were not seeing the results they wanted.

Rebecca intuited that the talent was there – why weren’t those programs working for them? They were on the cusp of cutting the entire budget for learning and development. Meanwhile, some of her best middle managers were voicing complaints that they were not moving up the leadership ladder. Engagement was waning.

When Rebecca called, she said she was only calling because another CEO colleague had pressed her to do so. “I’m ready to bag investing in leadership development,” she said. “I’m only reaching out because Tim says you get results.”

After exploring what she and the team had implemented, I congratulated her on placing development as a priority. I also pointed out that the programs in which she had invested were not carefully customized to her company, its culture, and its needs.

We did wind up working together and I am happy to report that we turned things around by identifying development initiatives that would support organizational goals, a way to support growth ongoing, and systems and processes to undergird this. I’m just sorry we had to work hard to reanimate engagement because of prior wasted efforts.

3. Address prickly roadblocks that stand in the way of leadership developments.

Mark had been waiting in the wings for years for Jack, the seasoned CEO to finally retire. Jack allowed him to run daily operations and to field the heat that comes with leading a business.

There was one problem, however: Jack also kept Mark and the executive team from truly stepping into their own power to improve organizational health.

He would run interference when Mark attempted to hold employees accountable. He would halt Mark from moving forward with initiatives that would keep the company highly competitive because, Jack said, “We have never done that, before.” Mark was quietly seeking another leadership position elsewhere – and so were some of his best executives.

This scenario was tricky. It was actually Mark who called me and not Jack. “What am I doing wrong?” he asked. “I’ve been here forever. I keep the company running, but I’m not empowered. I deal with problems that Jack creates because he keeps ‘pets’ around that shouldn’t be here – some even subversive to the organization.”

I worked with Mark to confront Jack about some of the decisions that he was not allowing Mark to implement, which compromised the business. Unfortunately, Jack did not want to listen.

Jack was afraid of retirement, and so he sat in his office and continued to collect the incredible salary and bonus he had enjoyed for more than 20 years.

Mark decided to leave and assumed the CEO spot at a new company. It’s been my pleasure to work with him there to develop a high-performing team. Mark’s only regret is that he didn’t move sooner. “I wasted a lot of years waiting,” he said. “It could have been different.”

Each of these cases could have been avoided. Good leaders are not born knowing how to prize and approach leadership development in a way that benefits them and their company.

How could stronger leadership at the middle management level improve your organizational health?

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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.

Leading with Greater Inner Agility

April 8, 2020 By Patti Cotton Leave a Comment

You are moving an entire business through uncharted waters right now. A lot of people are depending on you.

Grit isn’t enough to meet the challenges you are facing. You need to increase your inner agility in two ways to deal with the complexity occurring right now.

Owen, president of a manufacturing firm, reached out to me some time ago to help develop talent for the company’s succession planning.

“I’m tired,” he began. “And I think the company needs new blood. Can you provide executive coaching for my second in command?”

“I’d be pleased to help you, Owen,” I answered. “But if I can ask, why do you think the company needs new blood? You seem like you have more good years to give.”

“Truth be told, I’ve been perplexed by the business scene,” Owen answered. “Strategies that used to work don’t cut it. The challenges that we are presented with are new. I can’t refer back to anything I’ve dealt with before in order to create a roadmap out that makes sense.”

“Owen, you aren’t alone,” I responded. “Today’s business landscape is changing so fast that it’s hard to stay on top of what’s in front of you.”

“You aren’t kidding,” he shot back. “I can’t catch my breath. It’s one fire after another. I guess I’m just too old for this.”

“You aren’t too old, Owen. You are finding yourself in the same situation as most other executives right now. It’s time to increase your leadership’s ‘inner’ agility.”

“I’m ready for anything that helps me stay sane while I move this business forward,” he said. “Tell me more.”

“Well, there are two parts of inner agility,” I shared. “These are emotional and cognitive, and they both play a part in how well you make decisions and take actions. Emotional agility has to do with how well you manage your thoughts and emotions around your experiences. And cognitive agility has to do with your ability to make complex decisions.”

Owen and I talked for a bit about emotional agility and after exploring a bit, it seemed he was on top of things there. If you are interested in working on this particular aspect of agility, see the article Four Steps to Crisis Management.

We then talked about his ability to make complex decisions in light of the current business landscape, and this is where Owen admitted he was struggling. He had no past success he could reference as he confronted presenting challenges – the things that had worked in the past were not relevant.

I shared the following 5 steps to help him begin to develop greater cognitive ability:

1. Stand still while moving.

It’s important for a leader to find time for pause, but it feels impossible when the challenges keep coming non-stop. Yet, pausing is what provides self-awareness, reflection, and a moment to replenish one’s emotional and mental stores. Some executives practice breathing meditations, journaling, a walk around the building once or twice daily, or another habit that creates a moment where they can regroup.

2. Adopt uncertainty.

We are creatures of comfort, and when challenges arise, we run to what feels familiar and safe. Yet, with the world’s volatility and its effects on business, we must learn to embrace what feels new and trade in the hat of “expert” for that of “explorer.” If you find yourself using language like, “When this is all over,” think again. Our mindsets and rhetoric need to change to, “Let’s explore this challenge!”

3. Change Up Your Questions.

Begin by asking yourself where you need to go. Avoid gravitating to “how do we do this?” too soon, and replace this impulse with “What if we could…?” By remaining in the visionary portion of your questioning for a longer brainstorming period, you can begin to think outside the box about the way to accomplish it at a later time. Involve your greater management team and line employees. Tell them what you want to accomplish and get their feedback about what they think needs to change in order to accomplish this. And don’t be afraid to ask, “What am I missing?” Be open to thinking about different ways of moving forward and accomplishing your goals.

4. Focus on the journey, not the destination.

The destination you head for today may not be there tomorrow. Set shorter-term strategies to continue supporting your customers and their current needs, using your values as the foundational rudder that keeps you, the team and the organization grounded in who you are and what you are about.

5. Work on the who of your personal leadership and not the how.

Hard skills and competencies are no adequate to support the business of tomorrow. Your leadership character – your personal values and integrity – along with your agility to move through the unfamiliar – will be what count now and in the future.

I was pleased that Owen decided to work on his inner agility, focusing on the cognitive piece, to help move the company forward. As we shouldered this together, he became more confident, able to read the business landscape and connect the dots to make complex decisions, and at the same time, reported that he was less stressed than he had been in years.

Now is the time to step away from old habits to embrace the new and uncertain as exciting, uncharted territory, full of promise. The landscape continues to shift and evolve. How about you?

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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.

Lead or Manage? Why You Need to Do Both

August 16, 2017 By Patti Cotton Leave a Comment

Part I. Making Your Leadership Work

To lead or manage? This is the wrong question – you need to do both.

The differences between managing and leading are crucial, and you will find a lot of material on the subject.

But the comparisons imply that leadership is preferable to management, and that in order to be a leader, you must leave the managing to others.

This couldn’t be farther from the truth.

When you manage, you should also be leading in order to be at your most effective. And when you are leading, you absolutely have to manage, as well.

What are the key differences, and how do you make them work together?

Leading focuses on taking the enterprise into the future, creating followership through influence in order to meet the vision, mission, and objectives of the enterprise.

Managing focuses on the work at hand, ensuring that the necessary pieces work well together to meet the vision, mission, and objectives of the enterprise.

Attributes of leading include:

Attributes of managing include:

Create and share vision
Inspire change
Imagine possibilities
Lead forward, setting direction
Anticipate trends
Coach and mentor talent for culture and succession planning
Ability to think abstractly
Ability to articulate and influence

Ensure goals and objectives are being met
Understand how the work gets done in an organization
Accountable to team
Ability to teach and mentor
Ability to monitor and interpret data, outcomes
Self-discipline
Direct others
Provide input

As you review these two lists and make your own comparisons, where are you? Can you see that, if you are to be most effective, you will actually need to be able to do both?

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.

Asking for a Favor Can be a Powerful Tool

July 19, 2017 By Patti Cotton Leave a Comment

Do you hesitate to ask for a favor when you know you already need a bigger one from that same person?

You’d be surprised that this is indeed the best time to ask!

And it’s especially helpful as you seek to influence that person toward a larger, more important goal.

Does that feel counter-intuitive? Many say it does.

Yet, Benjamin Franklin proved that when you ask someone for a favor, this person will be actually more predisposed to do another one for you!

To quote Mr. Franklin, “He that has once done you a kindness will be more ready to do you another, than he whom you yourself have obliged.’’

And he proved this by successfully testing out the theory to earn favor among high-ranking members of Philadelphia’s General Assembly.

Specifically, the story is told that while Franklin was running for reappointment as Clerk of the Assembly, a new, influential member ardently argued for a different candidate. Franklin saw this passion and wanted it for his own advocacy, instead.

So when he learned that this new member had a rare book collection, Franklin approached him and asked to borrow one of the most valuable books. The member agreed, Franklin quickly read the book and returned it.

The next time the two gentlemen met, the new member initiated a conversation with Franklin and offered his help on anything Franklin might need in the future. Guess what Franklin asked of him? You guessed it. And he got it. The new member not only advocated for Franklin, but they developed a influential relationship from there that lasted until the second gentleman’s death.

In social psychology, we now call this the “Ben Franklin Effect.” It’s a powerful tool to develop supportive relationships and to curry influence.

In the workforce, we see the Ben Franklin Effect work successfully in many situations.

First, if you are seeking a position, asking for an informational interview to learn more about the field, asking questions about trends in the industry, or seeking other advice usually results in the other person wanting to help you find a job.

In sales, you may want to ask the potential client about where they think the market is headed, or what product benefits they find most powerful or valuable.

And certainly, Frank could have used this with John (see the first article of this series where Frank blows the entire multi-million dollar deal with John because of his poor approach – click here).

With whom do you need more influence at this time? What favor can you ask of them in order to develop a closer, more fruitful relationship that can serve you both in future?

What impact are you having in life and business?
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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.