The 7 deadly sins freds

Welcome

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

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

Vistage International

The World’s Leading Chief Executive Membership

Organisation

Vistage International

Better Leaders, Better Decisions, Better Results

Vistage International

Started in the USA in 1957

14000 members in 16 countries

600 members in the UK

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

• 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

• 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

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

Better Results

Vistage Member Companies

Grow Faster

Vistage International

Better Leaders, Better Decisions, Better Results

The 7 Deadly Sins of a Managing Director

Mike SteinleVistage Group Chairman

Sin #1

Not focussing on the right tasks and who’s job are you really

doing?

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

Sin #2

Status

Over

Results

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

Sin #2: Status

Strategy for Overcoming: Focus on Results

• Publicly commit to measurable results

• Evaluate your success based on these results

alone

Sin #3

Popularity

over

Accountability

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

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

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.

Sin #4

Certainty

over

Clarity

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

Sin #4: Certainty

Strategy for Overcoming: Provide Clarity

• Set public deadlines for making decisions

• Practice making decisions without complete

information around less risky issues

Sin #5

Harmony

over

Conflict

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

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

Sin #6

Invulnerability

over

Trust

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

Sin #6: Invulnerability

Strategy for Overcoming: Build Trust

• Acknowledge your own weaknesses and mistakes

• Allow direct reports to see your human side

With the right behaviours…

Accountability ensures results

Clarity allows accountability

Conflict leads to clarity

Trust lets healthy conflict occur

Choice Point

TrustConflict

Clarity

Accountability

Results

Invulnerability

HarmonyCertainty

Popularity Status

Sin #7

Lack of balance in your life

Career

Finances

Health

Family & Friends

Love

Personal Developmen

t

Fun & Recreation

Physical Environmen

t

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’

What action will you take as a result of this time we spent together?

The 7 Deadly Sins of a Managing Director

Mike SteinleVistage Group Chairman

24th January 2008

Vistage International

Better Leaders, Better Decisions, Better Results

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…..

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

Vistage International

Better Leaders, Better Decisions, Better Results