gain the competitive advantage – increase comfort in the stretch zone kathryn c. mayer february...

Gain the Competitive Advantage – Increase

Comfort in the Stretch Zone

Kathryn C. Mayer

www.kcmayer.com

FEBRUARY 17, 2009

© 2009 KC Mayer Consulting, Inc. All rights reserved

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KATHRYN C. MAYER: FEBRUARY 17, 2009

2007 FORTE FORUM: THE MBA VALUE PROPOSITIONUpcoming Forte Events

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Judith Finer Freedman, Founder of The Balanced Worker ProjectApril 21, 6pm ESTJoin in on this web seminar where you will learn the essentials for balancing work and home demands without compromising your career path. Judith will provide you with winning strategies for communicating your personal needs to managers, establishing equity as a new hire, and understanding best flexible practices in the field.


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONUpcoming Forte Events

MBA Women’s Conference – June 26-27New York City, NYPurpose, Passion, Power

Professional Development SessionsCareer Forum & Industry IntroductionsDialogue With LeadershipFeatured speakers: Liz Smith, President, Avon

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Networking!


Feature Presentation


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONKathryn Mayer - Introduction KATHRYN C. MAYER: FEBRUARY 17, 2009

Collaborative Competition™: A Woman’s Guide to Succeeding by Competing


2007 FORTE FORUM: THE MBA VALUE PROPOSITION

Goals: Gaining the Competitive Advantage Through…..

• Learning what the top 5% do differently and why taking smart career risks is critical for survival in a challenging economy

• Learn key findings from the interviews with successful women in highly competitive fields

• Understand your views on competition and risk taking and learn a positive and strategic view

• Identify one or two techniques to thriving in the stretch zone



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONAgenda

• Learn the top 5%’s approach to risk taking

• Identify the Collaborative Competitive™ mindset

• Understand your approach to risk taking and techniques for increasing comfort in the stretch zone

• Review several case studies

• Develop action plans for increasing smart risk taking.



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONHow Learning and Change Occur

• Will use questions, simple self-assessments, and many examples, to help gain insights about yourself.

• 80% of any change comes from awareness.



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONOpening Questions

• What is the difference between the top 5% in large organizations and everyone else? Or what do the top 5% do better and differently?

• What are the beliefs and/or actions?



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONThe Top 5%

According to Joel Deluca’s two-decades of research on the top 5% in large organizations, he defined them as:“Smart, ethical, well-liked, and continuously able to make an impact”

Top 5% differ in 2 ways:1. Build 3x the network2. Constantly take small (smart) risks.

They are not different in terms of intelligence, personality, or interpersonal skills.



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONThe Top 5%: Benefits

The Top 5% had the following results:

3x better odds of successful innovation attemptSignificantly higher performance ratings2x the promotion rates3x the bonus ratesLess likely to leave the organization3x more likely to have higher job and life satisfactionMore likely to be viewed as leaders.



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONWhat Are Smart Career Risks?

Success in a competitive environment demands:

Self-assessment – recognizing where are your strengths and where you are challenged

Identification of clear career goals

Willingness to constantly grow and stretch outside of your comfort zone - determine a range of next steps to achieving your goals. This can be small steps or difficult, unfamiliar experiences.




Why Taking Smart Career Risks is Essential for Career Growth

Research has found:The Center for Creative Leadership’s research on Breaking the Glass Ceiling has shown, women who reached the top built confidence by actively seeking out difficult, unfamiliar experiences and taking smart risks, inside or outside of their companies which helped them build their confidence to take larger risks. Often having bosses who encouraged them to do it, they built a wide base of support, took new or risky jobs and succeeded at them, or at outside activities such as publishing articles, speaking at conferences, or being on not-for-profit boards.

Rosabeth Moss Kanter, a Harvard University professor who focuses on men and women in business, observes: “Many women admit that because they spend so much time focusing on getting results, they don’t think enough about strategy and vision – still the most important qualities in a top executive. If women are seen as only glorified office facilitators, but not as tough-minded risk-takers, they will be held back from the CEO jobs.”



Section 1

Defining the Problem: Why Smart Risk Taking Can Be Challenging



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONGender Differences and Risk Taking

“Women don’t take as many risks as men. Women need to learn to take risks to be successful. I should have taken more risks in my career. Women tend to be perfectionists. Women feel like they need to be totally qualified to try something, versus men who are willing to do something that they are not fully qualified for.”

Sara Mckerihan, Senior MD, Fixed Income Division, Citigroup

“I became successful because I was never afraid to take a chance.”

Edward Miller, former vice Chairman and co-head of the European Investment bank at Citigroup.



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONGender Differences in Leadership

Men and Women are Equally Effective

Two key differences between male and female managers:1. Task vs. Strategy2. Expressiveness vs. Constraint

Key to Increasing Leadership Effectiveness is to Strengthen Strategic Thinking – this is the most predictive of leadership success:

1. Develop a plan2. Evaluate the past3. Take smart risks4. Constantly question, observe, and grow5. Seek out feedback




Gender Differences in Leadership: Perceptions and Values

Women that display active concern and accommodate needs of others are deemed more effective by bosses.

Men are perceived as most effective when they are forceful, assertive, and take a competitive approach to achieving results.

The challenge for women, especially in leadership roles or when they are a minority, is that they can be judged more harshly and have a smaller range of acceptable behavior.



What is the Solution to Increasing Smart Risk Taking?

COLLABORATIVE COMPETITION™




Competition Defined: Stretch Goal-Setting Process


Set an ambitious stretch goal: unseat/become/remain best

Make revisions to goal/strategy – open to new ideas, explore ways to be the best

Evaluate result and set goal for the future

Develop strategy/ tactics to achieve goal

Prepare, train, coach, watch and learn from competition/colleagues

Participate in event - take smart risks and try out new ideas to win

Receive feedback/result



Evolution of Competition and Success as a Leader KATHRYN C. MAYER: FEBRUARY 17, 2009

Strategy Win-Lose (Boys)

Perfectionism (Girls)

Win-Win (Adults)

Works Best Independent armies, teams with scarce resources

Very stable environments where rules are clear

Building collaboration with alliances in order to compete

Examples Wars, sports School, gymnastics, tests

Trying to innovate or sell a new idea

Goal Don’t lose “Perfect 10” or no mistakes

Finding win – win where agendas are aligned


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONCounterproductive Perfectionism

Women tend to strive for perfection as an identity (more than men), which limits their ability to:

• perform as effective competitors• take smart career risks• navigate the areas in which the rules aren’t clear,

such as politics • and most importantly enjoy life and its challenges



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONSecrets to Mastering Competition

Women – expand tendency to form emotionally supportive and

comfortable relationships into a broader view in which it is possible to support others and also to form strategic alliances around business issues.

Men – use strategic thinking skills to build a broad network of both business alliances and emotional supportive and trusting relationships.



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONCollaborative Competition™



Collaborative Competition™Becoming a more effective leader by

viewing competition as a collaborative process and a critical vehicle for self-growth

Power = Self-Confidence + Risk Taking

Pacing Partner™A colleague you collaborate with to stimulate the best performance

out of each of you


Success for Women Leaders in Competitive Professions

Collaboration, Teamwork, and a Healthy Desire to Win are the Keys to Success and Happiness at Work and in Life!

Research shows:

1. Those who take more of a collaborative approach rather than an extreme drive towards perfection and to winning tended to enjoy work more, were more successful, and led happier lives.

2. Those who have a high desire to win tended to have more of a tendency towards perfection and this seemed to inhibit teamwork; they also tended to have low scores for collaborating with others.




Example of a Perfectionist Competitor: The Dangers BOARD MEETING: FEBRUARY 11-12, 2009

A senior counsel for a major Fortune 500 company I interviewed, Clare, spent almost no time building relationships beyond the minimum she needed to get the technical aspects of her job done. Because Clare wasn’t comfortable networking and was a perfectionist, she didn’t build a wide network of support and ended up losing a power struggle with a Machiavellian colleague.



Example of a Collaborative Competitor: The Benefits BOARD MEETING: FEBRUARY 11-12, 2009

Alicia, the mayor of a mid-sized city is the breadwinner for her family and her two children near college age. She had a good job before deciding to run for mayor. She was encouraged by her mentor who felt that Alicia had a great shot to win.

So Alicia sat down with her mentor and husband, analyzed her chances, and decided to go for it.

She loves politics because it constantly pushes her hard, especially during the campaigning. During the first campaign, she had to constantly improve her debating skills. She hired a coach and strove to prepare thoroughly for each debate, sought feedback in meetings after the debates, identified areas for improvement, and then practiced intensely. For Alicia, taking risks involves surrounding herself with a supportive and challenging group of people.



Keys for Mastering Collaborative Competition™ BOARD MEETING FEBRUARY 11-12, 2009

Adopt a positive and strategic view about competition. This is the foundation and is the most critical component of becoming a Collaborative Competitor™.

What is your view now?

What does a positive view look like for you?


Section 2

Understand Your Approach to Risk Taking and Increasing Comfort in the Stretch Zone




Keys to Increasing Comfort in the Stretch Zone BOARD MEETING: FEBRUARY 11-12, 2009

Develop a strategy for staying in the stretch zone by learning three techniques:

Identifying the four performance zones

Identifying what your stretch zone looks

Distinguishing between triggers and symptoms

Learning what you need to do to stay in the stretch zone


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONApproaches to Risk Taking BOARD MEETING: FEBRUARY 11-12, 2009


Avoiding AcceleratingRisk Risk

2007 FORTE FORUM: THE MBA VALUE PROPOSITIONGetting Beyond the Comfort Zone BOARD MEETING: FEBRUARY 11-12, 2009

Blah Zone – Area in which you feel bored and lack interest or desire.

Comfort Zone – Area where you feel at ease without any challenge.

Stretch Zone – Trying out new behaviors that energize you and allow you to grow without causing a “breakdown” response or a significant diminishing in effectiveness.

Yikes Zone – Attempting new behaviors that are so threatening to your self-esteem or sense of well-being that a flight-or-fight response is evoked.


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONExploring Your Stretch Zone Exercise BOARD MEETING: FEBRUARY 11-12, 2009

A friend calls you because s/he’s heard you are one of the best at closing deals. You’ve have never come out on the ‘short’ side of a negotiated agreement. You have become known for settling almost everything through negotiation – why bother setting foot in the courtroom?

The potential client goes into great detail explaining their situation… it is unlike anything you have ever handled before – it is extremely complex, involves multiple parties and issues spanning several countries, and you are familiar with only some of this. The client feels it is to their advantage to push for a jury trial.

There is time pressure to bring this matter to a close.

After some serious soul-searching, do you?



Exploring Your Stretch Zone Exercise – Continued… BOARD MEETING: FEBRUARY 11-12, 2009

So, after some serious soul-searching, do you?

1. Take the case! Bring it on… there’s no challenge I can’t overcome!

2. I’ll Pass on this one…It pains me to do so, I confident I could win it, but I don’t want to risk my reputation or tarnish my perfect record on this one…

3. Become torn because you somewhat connect to both of the above positions


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONThe Challenge Concept

BOARD MEETING: FEBRUARY 11-12, 2009


1/99


2 Women Leaders with Diverse Challenge Scores BOARD MEETING: FEBRUARY 11-12, 2009


Director at top global investment bank, graduated top of Ivy league school

Low Challenge score

Came from northeast and moved to CA to be with husband; in same product group and firm since college

Enjoys being well liked, asked for her opinion, mentoring, and winning mandates

CPA and VP Controller for large real estate developer

High Challenge score

Came from small town, college graduate, family business, and was recruited to move to NYC

Enjoys start-ups, complex projects, creativity, and team work

2007 FORTE FORUM: THE MBA VALUE PROPOSITION2 Women Leaders – Continued



Director

Prefers an environment in which she can succeed without huge risks in which she has strong credibility and people who support her

Wants to be an MD, maintain and expand client relationships, increase network, and learn more about financing.

CPA

Wants to work in an environment in which she is challenged and given opportunities to do new projects and continue her education

Feedback she wants: achieve goals, be included in key start-up projects, get her Master’s Degree, learn French, photography, and Feng Shui


Two Leaders – How They Stay in their Stretch Zone BOARD MEETING: FEBRUARY 11-12, 2009


Director: She stays in her stretch zone by:

• Setting escalating goals that are attainable

• Seeking reinforcement and positive feedback

• Challenge comes from stretching their core strengths

• Creates a success-oriented environment

CPA : She stays in her stretch zone by:

• Setting continued elevated goals

• Seeking honest feedback from people she trusts

• Challenge comes from the opportunity itself – prove themselves

• Seeking an environment that offers a lot of personal challenges


Two Leaders – How They Manage the Stress of Risk Taking? BOARD MEETING: FEBRUARY 11-12, 2009


Director

Uncomfortable with public recognition of a problem

Focuses on what is going right

Focuses on one thing at a time

Needs down time.

CPA

Stress is internalized – but they are alright with beating up themselves and others in public, “ really screwed this up”

Focuses on potential

Can be hard on herself – has to monitor self-talk

Has to watch out because can get burned out

2007 FORTE FORUM: THE MBA VALUE PROPOSITIONFinding the Right Fit BOARD MEETING: FEBRUARY 11-12, 2009


The key is to pay attention to your triggers and symptoms to determine what is right for you.

ZONE Recommended % Time

Blah 0 to 10%

Comfort 5 to 50%

Stretch 30 to 70%

Yikes 1 or 2 to 30%

2007 FORTE FORUM: THE MBA VALUE PROPOSITIONTriggers and Symptoms


Triggers are minor signals your body gives that you may be pushing yourself too hard. A trigger could occur when you enter the stretch or yikes zone; these should be viewed as indicators that you are stretching yourself. The guideline is that if the trigger shows up once or twice it is probably more of a reaction or a nervous sensation, but if happens three or more times in a short time frame or if the trigger is sustained, you should either go back to the comfort or blah zone or stop what you are doing and attempt to understand what is causing the situation.

In contrast, symptoms tend to be more severe and long-lasting, such as a migraine or such intense anxiety that you freeze. When you experience a symptom, you need to stop what you are doing or go back to the comfort or blah zone and determine what is causing the situation.


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONExamples of Triggers and Symptoms BOARD MEETING: FEBRUARY 11-12, 2009


TRIGGERS SYMPTOMS

• Feeling sad • Depression

• Anxious in certain situations such as before giving a presentation

• Floating anxiety (being afraid but not knowing of what)

• Trouble sleeping before a big event • Ongoing inability to sleep well or long enough

• Struggle with focusing on a boring or challenging task

• General inability to concentrate

• Talk too quickly or too softly • Stuttering

• Increased caffeine or alcohol intake • Alcohol, drug, or caffeine addiction

• Occasional back pain or body aches • Severe pain and inability to move or walk

• Desire to eat more or less increases mildly

• Loss or extreme gain of appetite

• Irritated by coworkers or work situations

• Overpowering urge at work to cry, run and hide, or lose temper


Strategies for Increasing Stretch Zone Capacity BOARD MEETING: FEBRUARY 11-12, 2009

Identify what an energizing stretch looks like. One woman went from being a PR person to a CEO of a

small investment firm A technical trainer moved to leading a technical training

outsourcing company Key is that the stretch was energizing

Understand what types of situations provoke a yikes-zone response.

A nonprofit executive was very uncomfortable having to give negative feedback to her employees

A lawyer avoided confrontation with Machiavellian colleagues

Goal is to indetify your boundaries so that you can prepare and obtain adequate support



Strategies for Feeling Comfortable in the Stretch Zone: Stories - Success BOARD MEETING: FEBRUARY 11-12, 2009

Jane, a senior executive at an investment bank who heads leadership development, says she realizes she has strong views and knows that the best product comes from diverse views. Jane is a very competitive woman who believes that the way to achieve this diversity is to hire smart & confident people whose strengths differ from hers and who will challenge her. She seeks knowledge and feedback from her employees on an intermittent basis, which is how she stays in her stretch zone and ahead of her competition.


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONSelf-Reflection


Please take a few minutes to think about your approach to getting outside of your comfort zone

Choose one person to share your approach and identify a safe strategy for taking smart career risks


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONWrap Up and Plan for Success


Understand your approach to risk taking and getting into your stretch zone

Adopt the Collaborative Competitive view

Identify one or two actions you can take to make risk taking safer and more enjoyable!


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONAppendix: Additional Reading


Buckingham, Marcus. Go Put Your Strengths to Work ― 6 Powerful Steps to Achieve Outstanding Performance. The Free Press, 2007.Covey, Stephen R., Seven Habits of Highly Effective People: Powerful Lessons in Personal Change, Free Press; 1st edition August 15, 1989, pp. 188-200.Deluca, Joel, Political Savvy: Systematic Approaches to Leadership Behind the Scenes, Evergreen Business Group; 2nd edition June 1999.Goleman, Daniel, Working with Emotional Intelligence, Bantam October 6, 1998.Mayer, Kathryn, Collaborative Competition™: A Woman’s Guide to Succeeding by Competing. 2009.


2007 FORTE FORUM: THE MBA VALUE PROPOSITIONQ&A and Notes



2007 FORTE FORUM: THE MBA VALUE PROPOSITIONThank You for Attending!



Thank you Kathryn!

www.kcmayer.com

Check out Kathryn’s book:

Collaborative Competition™: A Woman’s Guide to Succeeding by Competing

gain the competitive advantage – increase comfort in the stretch zone kathryn c. mayer february...

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