The 5 Times Leaders Should Say No

Leadership requires making decisions. Though we are in an increasingly data-driven world, many decisions a CEO faces are bedeviled by insufficient information, compelling arguments on both sides and passionate advocates you don’t want to demotivate. Over the years, I've learned the importance of saying "no." Not only does turning down initiatives and events free up time but can also help you stay on-point with your business's goals.  

Below I’ve identified five of the most popular "flavors" of no and why you should practice each of them.

1. No to a bad idea

You’d think this one would be simple. “Jack, that’s a bad idea, we aren’t going to do that.” Yet, we have so bought in to the trope that “there’s no such thing as a bad idea,” that we twist ourselves into knots -- and waste a lot of time --  trying to honor the idea, or at least the creator, rather than calling it what it is and moving on.

The more experience and talent there is in the room, the less explanation or handholding is needed and the faster you can get to no. That said, ego and pride of ownership is tied to every idea and managing the emotional aspect of a no is critical. This is particularly important for more junior contributors that have not developed their protective callouses and might require additional coaching.

2. No to a good idea

If your product or service is good, there will be no shortage of ways to expand it -- new features to add, ways to monetize and offerings to attach, to name a few. There may be so many good ideas that you can’t pursue them all at once. That’s where you must be particularly mindful of your business strategy and protective of your resources. Do too many things at once, even if you have the resources, and you can confuse your customers.

Constantly ask yourself, “what are our strategic goals for this quarter/year” and how much does this idea move us forward?” Then say no -- or "later" -- to anything that isn’t going to represent a big leap forward against what you’ve already established is important.

3. No to a client

Clients frequently ask for things that we really, really want to say no to, but we usually don’t.  Sometimes we give them the benefit of our advice with an open invitation to ignore us: “We recommend against that course of action, but…” you get to win because you pay us.

Occasionally, a client will ask for something that will actually hurt your business, as opposed to something simple like a price discount. For example, they will expand their business with you if you give them some sort of exclusivity. When you know you have to put your business before the client, you must say no and hope that they respect you and your business needs enough to accept the answer.

4. No to a seller

You depend on your sales people to keep the lights on and the investors happy. So when one of them tells you they can double their productivity if only X, the rules for saying no to a good idea kick in -- even if it’s a bad idea. This is a special category, though, because a seller is prone to hearing the no and translating it into “we will not give you what you need to succeed here.”

The seller is usually responding to a need expressed by a client (e.g. their current strategy is to buy something different than what we offer and so the seller sees a huge opportunity). Usually, though, the only way to fill the perceived gap is to materially change the current business to be more like another company. The trouble here is deciding whether the need is a new opportunity for the organization or whether it is fool’s errand. In the first case, some of the best ideas come from the folks closest to the customers. However, a new product can just be a "me too" offering that opens your business up to a new set of entrenched competitors. This second case of a suggesting an expanded offering might just be a throw away suggestion given by the buyer to spare a seller’s feelings in response to the question of “how can I win more of your business.”.

5. No to a candidate

As CEO, particularly in a small to mid-size business, you are often the last interview before a hire. The only reason a candidate meets you is because everyone else has given a thumbs up. In most cases, you are not an expert in their skillset so yours isn’t a technical interview, it’s an attempt to get to one central thing: Will this candidate thrive here? Sometimes, the answer is no.

While you may not have to tell the candidate directly, you do have to tell the hiring manager that their finalist cannot work here, for reasons completely separate from what the hiring manager may have prioritized. You can agree that they have the skill, knowledge, experience and still say no. With this no, you are telling your manager that her search isn’t over, she may be back to square one and the problem this hire is intended to solve is going to go on for a while longer.

It’s important that you be able to explain in very human terms what you saw inside the candidate that made you uncomfortable and that you not let the hiring manager rebut your assessment. After all, the hiring manager did pass your test, and your job now is to help them thrive.

Jon Elvekrog

4 Tips to Help Introverts Nail a Presentation

Few of us actually enjoy public speaking but for introverts, it can be devastatingly painful. But just because you're not naturally outgoing doesn’t mean you don’t have a great story to share

As a VC investing in the enterprise-software space -- and technology in general – I have noticed this area tends to attract a high level of introverts. And while many of these individuals are absolutely brilliant and have no problem diving into the details of their product, they struggle in delivering a compelling presentation.

For those who are on the shy side, here are a few presentation pointers geared towards introverts.

1. Prepare. Of course people are going to prepare before they present. My point is that for introverts, preparation can be even more important than for extroverts. Only a high level of preparation will allow your presentation to become second nature. This means understanding absolutely everything on every slide. Better to understand every last number -- market size, financials and sales data -- so if someone wants to go deeper, you can do that without hesitation or clammy palms. The best way to do this is be intimately involved with putting the presentation together (instead of being spoon-fed the info by the marketing department).

Also, use what you’ve learned when pitching customers. You’ve likely encountered questions similar to what investors will ask. Those questions might be more related to product, market and usage than the business, but I think the point stands that those experiences can be very helpful.

2. Practice. We have all heard the old adage, practice makes perfect. For introverts, it not only helps create a flawless presentation but also builds up confidence.

Do as many practice runs as you need. Pitch people who aren’t familiar with your business or with investing. Your parents, friends, a stranger, even your kids are all fair game. You want to get down to the essence of what you do, and make it as simple as possible. Some you can give your elevator pitch, others the entire presentation. If they understand it, then your potential investors will, too.

Also, do some “warm up” pitches with VCs who aren’t in your target market but would be open to offering feedback. Ask your network to connect you with someone who’d be willing to do this. It’s the closest you’re going to get before you do the real thing, and it will feel just as real as if you were pitching to your target investor.

3. Condense. Keep it simple. A good rule of thumb is to keep your presentation to about 45 minutes. This way, you will leave room for a Q&A session at the end. This approach typically benefits introverts, because the presentation morphs into more of a conversation.

You can, of course, also elicit questions throughout the pitch. The only downside to that is if you’re really prepared to deliver your pitch in a certain way, questions in the middle can lead to derailment. When you’re practicing with other people, encourage them to ask questions whenever they like, so you get used to it.

I also recommend keeping the deck slides simple: They’re there to support your points, not to deliver your narrative. Use graphics, diagrams and bullet points on the slides, but keep your notes separate.

4. Focus. One way to do this is use your product in your pitch. This is a great way to feel less like you’re pitching and more that you’re showing off your product -- the same as if you were doing a demonstration of its great features and benefits. When the focus is on the product, you’ll see that it drives a lot of business-oriented questions. Who’s using it? Who’s buying it?

Second, if you know you’ve got a weak spot bring in some help. For instance if your go-to-market is a weakness, bring along your head of sales and marketing who can talk to those points. Not only can these people speak in an area they are experts in (a tactic that can increase the value of the conversation) but potential investors also get to see your team

That said, I would caution to keep your presenting group down to one or two extra people.

I really think that introverts have nothing to worry about when it comes to doing presentations because, we’ve all been there, we get it. Everybody gets nervous to some extent when they have to speak in public. So I want to reiterate that with thorough preparation, practice and focus, you can go a long way to calming those nerves.

Ricky Pelletier

The 5 Decisions That Will Change Your Life Forever as an Entrepreneur

                   

                                                                                                                                              

Becoming an entrepreneur is a huge deal. It’s not a decision to be taken lightly. But because the choice to transform into a business ownerhas been so heavily glamorized over the past decade, many people feel surprised and guilty about the fact that it can actually be a pretty tough choice to make. There’s no doubt about it -- once you’ve made up your mind to take the plunge and live as an entrepreneur, your life will never been the same.

In particular, here are five decisions that’ll change your life forever as an entrepreneur:

1. The decision to become an entrepreneur.

The actual decision to join the rapidly growing number of entrepreneurs is a life-changer in and of itself. So many things come along with choosing to go it alone in business -- some good, and others not so much.

But one thing is clear: once you’ve made the choice to join the club, that’s something that nobody else can take away from you. Sure, you can choose to return to work for someone else as an employee, but you’ll never truly stop being an entrepreneur. Once you've had a taste, you’ll never be able to forget.

2. The decision to never stop improving.

A hallmark trait of entrepreneurs is their perpetual discontent. Most of the time, this is a good thing. As an employee, you’re performing to meet standards. As an entrepreneur, you’re continuously looking to make things better, to improve on the present and to slash the status quo.

You won’t be able to see things simply at face value anymore. The urge to figure out why and how to improvise or redesign what you’re currently experiencing will never go away. Entrepreneurship places an insatiable desire for “better” within you.

3. The decision to dive full time into your adventure.

Many of us who take the plunge begin by running a business on the side. This is the smart and safe approach, so to speak, and it’s not surprising that a large number of people take it. But the day will come when you’ve had enough, or an opportunity is brought before you that you simply can’t turn down. So you cut other ties that are holding you back, and choose to set sail into the ocean of full-time entrepreneurship. The new waters you now find yourself in will bring with them more stress, but also more freedom than you’ve ever imagined.

4. The decision to never give up.

Failing and giving up are two very different things. Events that you’ll perceive as failures will come. They’re the unavoidable part of every entrepreneur’s story. Yet, we still carry on.

Despite, as Edison said, “finding 10,000 ways that won’t work,” we keep looking for the one way that does. The decision to never give up changes your life forever, and will always make you different from those around you. Even if entrepreneurs die before starting a successful business, they simply ran out of time -- they never gave up.

5. The decision to give back.

One of the greatest things about being an entrepreneur is the opportunity to give back in a bigger way. Choosing to view the world based on who you can help is a life-changing decision. You notice the people that helped you see your calling. There are those that saw you through the first few tough times of your venture, friends, family and charitable causes. Even the people who are just beginning right now need a helping hand from someone who knows what it’s like going it alone in business.

It’s an amazing feeling to know you’ve arrived as a success, but as you’re told when you’re a kid, “it’s better to give than to receive.” Some of the most exciting times of my life have come from embracing the chance to change someone’s life as an entrepreneur, and I’m grateful for having been privileged enough to have the opportunity to do so.

Entrepreneurship comes with all different types of paths and all different types of challenges that are different from anything else you’ll experience as an employee. Almost any decision you can make in life can be changed, but there are some you’ll make in your entrepreneurial journey that mean you’ll never again be the same.

Choose wisely. With a single decision, you have the power to change your life forever.

Sujan Patel

Why Honesty and Integrity Really Do Matter

It’s OK to break the law. I’ve done it countless times, mostly when I was younger, but I still do occasionally. Don’t sound so surprised; just about everyone does. I still speed, for example, but not nearly as much as I used to. It seems the older I get, the less I’m in a hurry to get where I’m going.

I once had a tax accountant who did some shady things. When I found out, I fired him. After all, if he’s willing to defraud the government, why stop there. I simply didn’t trust him. Besides, he was just a lousy accountant.

These days, my long-time personal and business accountant and I keep everything above board, and with good reason: When it comes to things that really matter – my family, career, and business – I play by the rules, and that’s worked out pretty well, to say the least. But the reasons why are not as obvious as you’d think.  

There’s a big misconception about white-color crime. Everyone seems to think that executives and business leaders have recently lost their moral compass vis-à-vis Enron, WorldCom, Madoff, and all the other corporate scandals since the turn of the millennium, but that’s simply not true. That stuff’s been going on forever.

Most of my time as a senior executive and corporate officer of various public and private companies came before all that, and, let me tell you, there was no shortage of opportunities to stray. Insider trading, stock-option backdating, conflicts of interest, accounting fraud, financial fraud, antitrust violations, patent infringement, corporate corruption, cronyism – you name it, I’ve seen it up close and personal.

I’ve known quite a few otherwise honest people who, for whatever reason, were drawn to the dark side. I knew Raj Rajaratnam when he was an analyst at Needham. One day he told me he was quitting to run a hedge fund. Today, the billionaire Galleon Group co-founder is serving an 11-year prison term for insider trading, a scandal that ensnared executives and directors from IBM, Goldman Sachs, McKinsey, and Intel Capital.   

The question is, why? Not why do successful people often fall into those traps? I think that angle’s been beat to death. We’re all so quick to judge others as evil and greedy when, given the chance, many of us would do the same thing. I think the more relevant and actionable question is why haven’t I and, by extension, why shouldn’t you?

I bet I know what most of you will say. It’s about ethics. That may be true but it doesn’t explain where those ethics come from. We’re certainly not born with them. Needless to say, I’ve pondered this question for years and come up with three reasons. The first one is an emotional factor that relates to role models.  

There were a series of episodes growing up where my dad – a strict disciplinarian with an unassailable work ethic – surprised the heck out of me by responding positively when I thought he’d go ballistic. I once confessed to stealing candy from a local shop and he commended me for being honest. And when I was accused of lying by another kid’s father, he stood up for me, saying, “Steve may be a lot of things but he’s not a liar.”  

Fast-forward a decade or so. I spent the first six years of my career as an engineer with Texas Instruments. My managers were all salt of the earth people who were incredibly generous with their time, especially when I was stuck or troubled by a tough dilemma. Their doors were always open, their advice genuine, and their manner encouraging, even when I screwed up. 

When we face people we respect and admit to failure or confess to bad behavior, how they respond makes all the difference. When they show faith in us despite our issues, that resonates with us emotionally. It makes us want to earn their respect and deserve their faith. It sticks with us. And it shapes our behavior going forward.

The logical factor is a very practical one: dishonesty is more trouble than it’s worth.

Lying or stretching the truth is actually a real pain in the butt. Even exaggerations have a way of growing and taking on a life of their own. Before you know it, you’re constantly looking over your shoulder and covering your tracks. It’s exhausting. And, more importantly, it’s a house of cards that eventually comes tumbling down.

Simply put, dishonesty is an inherently flawed and unsustainable model.    

The third factor is karma. I’m not talking about karma that helps you in your next life; I’m talking about karma that helps you in this one. Try as we might to tell ourselves that we have good motives behind our bad behavior, on a subconscious level, we always know what we’ve done. And it plagues us.

If, on the other hand, we’re so delusional and adept at compartmentalization that we don’t have to face the truth about what we’ve done, trust me when I tell you, that’s no picnic either. Either way, I’m pretty sure that people who do bad things live in their own personal hell.

To summarize, there are three reasons why you should always play it straight:

1. To earn the respect of those you respect.
2. Dishonesty is inherently flawed and unsustainable. 
3. What goes around really does come around.                                                                                                                                                  Steve Tobak

13 Behaviors That Prevent You From Moving Up in Your Career

You want the coveted title, the nice office and all the perks that come along with them. So what do you need to do to get there? In fact, it may not be what you need to do, but rather, what you need to not do to advance your career.

Here are 13 behaviors in particular that leave you stuck in a career rut:

1. Showing up late.

Stayed up too late watching your favorite TV show and now you can’t get out of bed when your alarm clock goes off? That’s what services such as Netflix and Hulu are for. You don’t have to stay up to catch the latest episode. Get to bed on time so that you’ll be ready to go on time in the morning.

2. Only doing what you’re paid for.

From time to time, you’ll be asked to do things that aren’t in your job description. Turning them down won’t keep you from getting a paycheck, but it will keep you from proving you’re ready for the next step. Only doing what you were hired to do communicates to your boss that you’re content at your current level.

3. Networking only within your company.

You may work for a great company, but there are other great ones out there too -- and they may be looking for someone to step up and fill the kind of position you dream of. You’ll never know about it unless you talk to people at other companies, so be sure you’re using LinkedIn and other online networks to  supplement your in-person communications.

4. Staying home.

You’re required to be at your desk during office hours, but what about the company picnics, the get-togethers and the Christmas party? No, you won’t be paid for them, but going to extracurricular functions shows your boss you’re a team player. Unless you absolutely cannot make it, start going to the “outside-the-office” social functions related to your job.

5. Relying on your former education.

Too many people get through their required training and then stop learning. To rise above everyone else in both title and pay, you have be continually learning new skills and improving yourself. This doesn’t have to mean going back to school. You can attend workshops, ask mentors and continue your education to gain new skills that’ll help launch you into your next role.

6. Waiting on someone to find you.

Yes, recruiters are out there, but relying on them to find you amongst everyone else will kill your ability to move up. Make yourself known. Tell them about yourself and why you’d be an asset at a higher-level position. If you want to move up within your company, make it known that you’re looking for advancement and actively seek opportunities, instead of waiting for them to be handed to you.

7. Working alone on your goals.

We all need a little help sometimes. Other people can see things in us that we can’t always see ourselves, allowing them to offer a perspective that’s much different than our own. If you need help, there are coaches out there that specialize in career advancement, such as a resume or small-business coach.

8. Failing to follow through.

Sometimes, you’ll receive difficult tasks that’ll test you in various ways. No matter the task, if you say you’ll do something, make sure you deliver. Failing to do so, even in the face of obstacles, will cut short your ability to advance your career.

9. Being passive.

You don’t want to be known as the hothead of the office, but it’s no better to be the wimp. Voice your opinions and showcase your work. Your boss may not know your worth if you never demonstrate it.

10. Keeping your dreams to yourself.

Tell other people your plans. It helps you be accountable for them, and it also opens the door for them to help you. Keeping quiet about your dreams will ruin your chances of making the key connections needed to move up.

11. Having the reputation of “just another guy in the office.”

Average workers don’t get promoted. Work hard and become the go-to guy for projects and special assignments. Being “just another employee” will damage your ability to advance.

12. Staying in your comfort zone.

Promotions will often take you outside your comfort zone, so be prepared. Take on things you aren’t sure you can handle and find ways to do them anyway. Staying comfortable might sound nice, but it won’t help you advance your career.

13. Reading and hoping instead of doing.

Columns such as this one are published every day, but reading them is a waste of time if you don’t take action. Failing to take action ensures you’ll stay right where you are, killing your upward momentum.

What are you doing today to move up in your career? If there are any other career-killing habits you want to draw attention to, let us know about them in the comments section below.

Sujan Patel

Untitled

Global has its fingers on the pulse of the marketing and sales industry. For articles and motivation follow us at http://on.fb.me/1LtRopQ

Talk the Talk for your Industry

Even if you lead & train others in your industry, your tone & verbiage can effect your credibility. Here are 9 phrases that make you sound less experienced than you are - http://on.mash.to/1Lsxvzs