the 7 deadly sins freds
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TRANSCRIPT
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Welcome
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Agenda
• Welcome• Introductions • Vistage: Better Leaders. Better Decisions. Better
Results………• The 7 Deadly Sins of a Managing Director• Problem Solving….interactive session dealing with a
real business issue…..• Summary, Q & A, Next Steps
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One Minute Introductions
• Name• Position• Company• Turnover & numbers of staff• The business you are in• A real issue you are wrestling with, which if you could
resolve it, would give you the greatest peace of mind
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Vistage International
The World’s Leading Chief Executive Membership
Organisation
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Vistage International
Better Leaders, Better Decisions, Better Results
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Vistage International
Started in the USA in 1957
14000 members in 16 countries
600 members in the UK
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Member Profile
• Chief Executives, MDs and Business Leaders
• All industry sectors
• SME based (£2m - £150m); plus corporate
• 2:1 owner manager vs. hired guns
• 30 – 65 years of age
• 14% women members
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• Vistage Group & Group Chairman
• Monthly Group Meetings
• One-to-Ones
• Expert Speaker resources
• Regional and International conferences
• Web-based best practice library
• Network of 14000 members
The Vistage Process
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• One day every month
• 2 hour one-to-one every
month
• Host the day in rotation
• £800 joining fee
• £2,400 per quarter
The Investment
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Return on investment proven
through:
• Better decision making
• Accountability to action
• Personal & professional growth
• Overcome isolation – “it’s lonely
at the top”
• Making change easier
• Networking
Why Leaders Join
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Better Results
Vistage Member Companies
Grow Faster
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Vistage International
Better Leaders, Better Decisions, Better Results
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The 7 Deadly Sins of a Managing Director
Mike SteinleVistage Group Chairman
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Sin #1
Not focussing on the right tasks and who’s job are you really
doing?
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The Seven Core Tasks……..
Create the vision, set the direction
Get the right people on the bus
Lead the organisation, let others manage
Communicate, communicate, communicate
Understand the numbers
Understand the risks
Take care of yourself
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Sin #2
Status
Over
Results
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Sin #2: Status over Results
• You do not consider it a professional failure when
your organisation fails to meet its objectives
• You often wonder how how you’ll top this position
in your career
• You feel overlooked when, in spite of exceeding
your company’s objectives, you remain
somewhat anonymous relative to your peers in
the industry
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Sin #2: Status
Strategy for Overcoming: Focus on Results
• Publicly commit to measurable results
• Evaluate your success based on these results
alone
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Sin #3
Popularity
over
Accountability
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Sin #3: Popularity over Accountability
• You consider yourself to be a close friend of your
direct reports
• It bothers you, to the point of distraction, when
they are unhappy with you
• You often find yourself reluctant to give negative
feedback to your direct reports
• You water down negative feedback to make it
more palatable
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Sin #3: Popularity
Strategy for Overcoming: Hold People Accountable
• Confront direct reports immediately about
behaviour and performance
• Clarify expectations up front to make confronting
direct reports easier
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Quarterly Priorities Manager Quarterly Priorities Manager
Company……………….. "TOP FIVE PRIORITIES"
Name Job Title
Updated:
PRIORITY CURRENT PRIORITY CURRENT STATUS NEW PRIORITY RANK For Quarter Ending 30-09-2005 AND RESULTS For Quarter Ending 31-12-2005
1.
2.
3.
4.
5.
HOW TO USE THIS FORM:
Complete details on the use of the Quarterly Priorities Manager (QPM) are detailed in chapter 3 of the book entitled: "CEO Tools:The Nuts-n-Bolts of Business for Every Manager's Success." This FORM is set up to allow ease-of-use in updating your prioritiesusing the QPM from quarter to quarter.
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Sin #4
Certainty
over
Clarity
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Sin #4: Certainty over Clarity
• You pride yourself on being intellectually precise
• You prefer to wait for more information rather
than make a decision without all of the facts
• You enjoy debating details with your direct
reports during meetings
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Sin #4: Certainty
Strategy for Overcoming: Provide Clarity
• Set public deadlines for making decisions
• Practice making decisions without complete
information around less risky issues
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Sin #5
Harmony
over
Conflict
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Sin #5: Harmony over Conflict
• You prefer your meetings to be pleasant and
enjoyable
• Your meetings are often boring
• You get uncomfortable at meetings if your direct
reports argue
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Sin #5: Harmony
Strategy for Overcoming: Establish Productive
Conflict
• Draw out differing opinions and perspectives from
staff members
• Engage in – and allow – passionate discussion
about key issues
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Sin #6
Invulnerability
over
Trust
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Sin #6: Invulnerability over Trust
• You have a hard time admitting when you are
wrong
• You rarely share personal values and
experiences
• You are uncomfortable accepting compliments
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Sin #6: Invulnerability
Strategy for Overcoming: Build Trust
• Acknowledge your own weaknesses and mistakes
• Allow direct reports to see your human side
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With the right behaviours…
Accountability ensures results
Clarity allows accountability
Conflict leads to clarity
Trust lets healthy conflict occur
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Choice Point
TrustConflict
Clarity
Accountability
Results
Invulnerability
HarmonyCertainty
Popularity Status
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Sin #7
Lack of balance in your life
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Career
Finances
Health
Family & Friends
Love
Personal Developmen
t
Fun & Recreation
Physical Environmen
t
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Golden Key
‘Decide that your front door key is made of gold. Visualise it to be so repeatedly – shine
it up with Brasso or Duraglit – so that whenever you use it you remember that it is
the precious key that gives you access to the most precious people – your loved ones.
They deserve to see you as the best version of yourself every time you return to them from
work’
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What action will you take as a result of this time we spent together?
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The 7 Deadly Sins of a Managing Director
Mike SteinleVistage Group Chairman
24th January 2008
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Vistage International
Better Leaders, Better Decisions, Better Results
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Problem Solving
• The issue is…• It is significant because…• My ideal outcome is…….• Relevant background information….• What I have done up to this point……• The help I want from the group is…..
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Issue ProcessFirst seek understanding.- Ask clarifying questions (no solutions)- Piggy back on questions asked until the line of enquiry is
exhausted- Find the real questions and the real issueObservations, experiences, prescription.- Group input- Owner of the issue stays silent, just listensFeedback- Issue owner will describe how they feel, what they learned- Announce what action they will take
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Vistage International
Better Leaders, Better Decisions, Better Results