You don’t need an expensive MBA to achieve business success. Understand this 5-Part Basic Business Framework to take stock of venture.
Over 60% of small businesses in Australia fail within the first three years, and the rate of this failure has risen by nearly 13%.
The good news is, understanding business is not complicated. All you ever need to take stock of your venture and succeed as an entrepreneur is this 5-Part Success Framework according to Josh Kaufman, author of the Personal MBA.
“At the heart of any venture, big or small”, says Kaufman, “are these 5 basic business components.” Understanding how they work will enable entrepreneurs to succeed in business. Let’s explore and analyse each one to help boost your startup into a thriving venture.
A business that does not create value for others is not a business, but a hobby. The first thing to understand when starting a business is – what will drive people to buy in to your product or service?
People will pay a premium for a service that solves their problems and makes their lives easy. This is why companies like Amazon exist. People will also pay a premium for products that will elevate their status, like Apple’s products, for example.
So, think about how you can have a product or service that’s convenient and makes people feel special. But, even if you get this part right, there’s still no guarantee that people will buy it. Which leads us to —
A business that doesn’t “market” is a ghost. You may have the best product or service ever created but if no one knows about it — it does not exist. So, what sort of marketing are you doing to draw and hold customer attention to your remarkable product? Any business that can do this can move to the next stage –
Sales is the lifeblood of business. And a business that does not sell is not a business, but a non-profit.As an entrepreneur, you must know when your offer exceeds or falls short of the customer’s perception of value. Are you too pricey and not worth the money? Or are you cheap and too good to be true? Either way, you don’t make a sale.
Have conversations with your customers, get their insight, build a relationship and earn their trust because the more trust a business has, the more sales it makes.Learn how to build customer trust.
A business that does not deliver what it promises is a scam. Customer expectation is already high at the beginning of the sales process. And as soon as the purchase is made, the performance of the delivery must surpass expectations if you want them to buy from you again and recommend your business to their friends.
So how are you exceeding your customer’s expectations? What systems are in place to ensure delivery of high-quality products in a fast and reliable manner?
A business that does not bring in enough money to keep operating will die eventually. All businesses regardless of size, need to reduce spending in one of the four parts mentioned previously or produce something of greater value to succeed financially.
Deep dive into these fundamental business concepts. Learn how to hone your sales strategy, fine-tune your value delivery and drive financial growth at the SME Success Summit 2020.
And get the full summit experience virtually! Engage with speakers and delegates with the option to enjoy the summit online via LIVE streaming.
Here are 5 great examples of engaging executions that you can only achieve with an event sponsorship to make your brand stand out in the market.
With event sponsorship, brands can extend awareness and exposure into a fully engaging customer experience. No other advertising vehicle can offer a full-range of executions to create a deeper, longer-lasting connection with attendees than an event.
Your partnership with the right event creators can communicate your brand’s objectives in ways that are exciting, informative, entertaining and best of all, memorable for attendees – your target customer.
Here are 5 examples of engaging executions that you can only achieve with an event sponsorship to make your brand stand out in the market.
Event Execution #1 Social Media Wall
Imagine your social media content prominently displayed on a large screen right at the center of the event. The digital wall is showing your brand-curated messages, videos and images side-by-side with your customer’s by using a hashtag.
It’s quite stunning to see how your message is received and then amplified by attendees on the event’s social media wall in real time! Check out this video sample from strea.ma
Event Execution #2 Video Live Streaming
Your brand presence at the event is amplified online with video live streaming. Over the years, video live streaming has grown to be a popular marketing channel because of its ability to increase audience reach.
Live-streaming video can induce FOMO (Fear of Missing Out) in non-attendees. In fact, 30% of people who watched a live-streamed video will attend the same event in-person the following year. See the livestream highlights of Xerocon London 2019, to understand the ability of video to pull the viewer into the experience.
Event Execution #3 Interactive Games
Game stations at events offer a fun, welcome break for attendees after long hours of workshops and sessions. If you’re wondering how cool this experience can be, watch this SAP-sponsored Basketball Arena at a SXSW event.
Event Execution #4 Digital Lounge
A digital lounge is a dedicated space for attendees to relax with free wi-fi, charge their phones and browse your online content. It’s a great opportunity to chat with them, offer one-on-one consults, get quick feedback with surveys and give away merch. It’s also a fun way to bring in attendees and for them to get to know you. Check out the Deloitte Digital Lounge at Adobe Summit for inspiration.
Event Execution #5 Pop-up Bar or Cafe
Food printing (logos printed on snacks), company branded drinks, baristas offering artisanal coffee, pastries, hot meals or a full-spread chef’s table — there’s nothing quite like delicious food and drink to attract attendees. Watch how Briggo Coffee launched its brand at SXSW event.
An event partnership with The Leadership Institute positions your business right in front of Australia’s most important decision makers.
Every day, women are overcoming hurdles to become business leaders. We defy odds to set up our own businesses. We disrupt industries with our talent. We build stronger, more inclusive workplaces.
We are ambitious, successful, daring, empowered. Whatever our career goals, we strive to turn our dreams into reality.
The Empowered Woman Awards is a celebration of the success of women in business and leadership. The Empowered Woman Awards is a celebration of the success of women in business and leadership. Our finalists represent a cross section of Australian business woman and Entrepreneurs who are pushing beyond their limitations, changing the way sees women capabilities and ambitions and are inspiring a new generation of leaders.
Winners will be announced at a cocktail event following the conclusion of The Empowered Woman 2020.
Vote for the candidate of your choice for The Empowered Woman Awards 2020!
The Entrepreneurial Leader
The Entrepreneurial Leader is awarded to a woman with at least a 40% share in a business started since January 2016. She demonstrates strong business acumen in delivering new and innovative products or services that have made an impact on the market.
Melanie Burnicle, Founder and Director, The Makeup Artist Guild Asia Pacific
Starting as a freelance Makeup Artist herself 22 years ago, Melanie noticed a common conversation amongst artists, on the rare days she worked with other artists as often there is only one Makeup Artist on set. Artists were lacking a sense of community, support and the knowledge of how to Use their skill as an Artist and treat it like a business to grow and move forward. Melanie Founded The MAGAP, the home to unite, nurture and empower artists. Embracing and celebrating the diversity and uniqueness amongst the Makeup Artist Community through its membership and annual awards platforms which boosts artists careers on to an international playing field.
Towards the end of 2016, Mandy found that the rate of depression, anxiety and eating disorders amongst teenage girls were on a rise and it was in that moment that she found herself shifting her passion and focus towards giving teenage girls a voice. She founded Flourish Girl as apreventative mental health program for teenage girls and works with schools to deliver transformational programs that explore the current limitations for girls from being powerful and unstoppable in today’s world.
Pascale Helyar-Moray, Founder & CEO, Super Rewards
Pascale wished to change the future of women across Australia by engaging retailers to see the immense value of the unpaid economy. She launched Super Rewards in October 2019, as an immediate solution to the super crisis; allowing women to start saving into their super with cash rewards from retailers.
At the end of 2015, Zivit has left her role as CHRO in a global technology company after a string of personal tragedies. She was in a lot of physical and emotional pain, but decided to not let loss and fear hold her back. With a timeline of six months to find a paying client, she decided to start her own boutique consulting firm specialising in culture, leadership, people and ethics and has never looked back and has gone on to coach and mentor more than 250 Australian founders and executives in the innovation space and launch a leadership program in Vietnam
Cassandra Kalpaxis, Director, Family Lawyer, Kalpaxis Legal
As a family lawyer, Cassandra is exposed to the fall outs of separation every day and strives to focus on amicable and holistic separation that empowers her clients. Focusing on alternative dispute resolution, she is often criticised for not practicing ‘real’ law by male peers. She is embarking on a journey inspired by Brene Brown to accept vulnerability and strive to be different.
Nadine Lipworth and Lisa Kelly Rope, Founders and Wrap Artists, Burrito Baby
When Nadine and Lisa met as first-time mothers in March 2017, they bonded over the fussy sleeping habits of their babies who constantly wriggled out of traditional muslin wraps. Inspired to design a new type of swaddle that keeps babies asleep for longer, they launched Burrito Baby as an entirely self-funded venture. Under immense financial pressure and stretched paper thin, they say winning this award would give the much needed boost to keep pushing forward.
To vote for Nadine Lipworth and Lisa Kelly Rope, click here.
Michelle Perugini, CEO, Presgan and Life Whisperer Diagnostics
In less than 3 years, Michelle has grown the idea to apply AI to assist embryo assessment during IVF from concept to commercial product. Her goals are to lead a disruptive healthcare company focused on underserved women’s healthcare market. She sees herself as a role model for emerging female entrepreneurs and wishes to challenge the status quo for women leaders.
When Tamara left a stable job to found Beaute Industrie, she was told her ‘ little business’ would never make it. One year later, she had a profitable business with international exposure providing Australia’s first online support community for the professional beauty industry. In two years, The Beaute Industrie has grown to provide networking events, business development sessions and an online mentoring platform to a community of 10,000 beauty professionals.
Louise Sparkes Howarth, Founder and Head Pineapple, Pineapple Marketing and Promotions
When creating Pineapple Marketing and Promotions, Louise knew she wanted to create a business that was focused on giving back. She delivers social media and strategic marketing services to business and is rolling out a marketing tour to take a 1-day workshop to regional cities. She is working on a marketing collective to promote the destinations affected by the bush fires and the businesses within those communities to support those impacted.
The Emerging Leader is awarded to a woman who is rising in her field. She demonstrates strong leadership characteristics despite only being in a leadership or managerial role for less than two years, or not having a ‘traditional’ leadership or managerial role. She inspires those around her, and shows the potential to become a leader of tomorrow.
Anna Aleksandrova, Manager, Associated Airlines and Services Workforce Planning, Qantas Airways
Anna stepped into a role managing two distinct teams just over a year ago, and has introduced formal and informal training processes to upskill and empower everyone who works with her. From Excel to presentation skills to strategic thinking, her training initiatives are designed to inspire and enable people to add value and operate independently. Her proudest achievement is seeing all layers of both of her teams tackling new challenges in a confident and competent manner.
Tina has adopted a growth mindset, seeking opportunities to grow her skills and was awarded one of the Women and Leadership Executive Ready Program scholarship in 2018. She is empowered to use her experiences to shine a light on Social Justice issues, and inspire change. She is currently leading an inclusive event for International Women’s Day that invites women who are often invisible in society. She has seeked to carve a space to pursue her professional dreams and is proud of having risen beyond the limitations within which she was raised.
Charmaine Johnstone, Consultant, Business Applications, Veritec
Charmaine was a driving force behind the creation of Veritec’s “emPowering Women” initiative which aims to upskill 100+ women and is backed by Microsoft. She has embedded herself within Women in Information and Communication as a committee member. Her long term-term plan is to take on further leadership responsibilities within Veritec, working on her mentoring, coaching, personal development and presentation skills.
Tamara Klink is extremely passionate about advocating and supporting women in tech. Working at Salesforce, she actively seeks opportunities to support gender diversity and founded FIIT Collective, a global support network for females working in Tech. She is described as a born leader, demonstrating initiative, empathy and the ability to inspire those around her.
Athena Savvas, Assistant Director, Volunteer Coordinator and Adventure Tour Leader, MyGapYear Travel, Founder, Meet Her
Athena provides support, leadership and guidance to over 220 volunteers as an Adventure Tour Leader at MyGapYear Travel. She also founded Meet Her, a social enterprise designed to help women connect with career professionals and industry leaders in mentorship. She prides herself on her ability to invest in the aspirations of her fellow leaders and hopes to support and mentorship to those making the jump into the professional space.
Claudia Semola, Area Manager, Zambrero Restaurants
Claudia has been a go-getter, putting herself forward for a store manager role at 21, despite doubts from management about her capabilities. In 18 months, she has grown to become an area manager of 3 locations and leads with passion, energy and true confidence. She is seen as a valued employee of the Zambrero Restaurants and seen as having the potential to become a state manager.
Natalia Simonovic, Business Development Manager, Whale Logistics
Natalia is described as an unstoppable force who achieves incredible outcomes for What Logistics. In less than two years, Natalia has taken ownership over unifying sales and marketing strategies and has helped drive a strong team culture by collaborating effectively and being a positive influence on the team. She is highly strategic, and is described as having the unique ability to both inspire and influence those around her.
Tahlia Stewart, Teacher and Head English Teacher, Wauchope High School
Tahlia, as a Science based teacher, has led the organisation of “Sky Stories”, a local community event that showcases Aboriganal and Modern astronomy to bring together Aboriginal elders, children, education, academics, and more. Her emerging leadership skills have led her to be asked to take on the role as Head Teacher of English despite the role being outside of her faculty role. At the beginning of her second year in the role, she has developed a tight-knit faculty that is knocking over many goals on their way to engaging students in English learning.
Alicia Stiffle, Deputy Principal, Kalbarri District High School
With a proven ability to lead whole school improvement as a lead teacher, Alicia was just appointed as the Deputy Principal at Kalbarri District High School. She brings fresh, new and cutting edge ideas to the table as a leader, including creating the best classroom environment to assist students with severe epilepsy, acquired brain injuries and severe anxiety. She seeks to build upon the strengths of her team and harness their skills to ensure all educators thrive in their roles.
The Established Leader is awarded to a woman who has at least 2 years of leadership experience. She thrives in her role and shows exemplary passion for her industry or field. She is an advocate for the success of others and uses her voice to create opportunities for younger women in her field.
Sarah Bailey, CFO, Company Secretary and Company Director, Penten
Sarah played a pivotal role in Penten being awarded the Telstra Business of the Year 2018 and AFR Most Innovative Company in 2019 and also founded a successful CFO advisory business for SMEs in Australia. When Sarah decided to have family, she felt she was not being offered the same opportunities as before and upon return to work after the birth of her second child, she created a successful job share partnership with another colleague. Sarah was able to show this was a beneficial way to allow women to be appointed to roles in line with their career trajectory but also with the desire to not work a standard full time, 40 hour week and is a strong advocate for flexible working.
Having moved to Australia from France 4 years prior, Corinne created Polyglot Group 25 years ago from the ground up with limited English (at the time), a quirky French accent (still has this) & a will to help people & companies grow together.As a mother & businesswoman, Corinne was not taken seriously and constantly had to overcome a need to prove herself worthy. Corinne’s ultimate mission & passion is to help others grow andshe is always coaching & mentoring her team so as to guide them throughout their own career paths.
Angela Coble, Director Business Technology, Johnson & Johnson Medical
Angela leads the Women’s Leadership & Inclusion Advancement pillar for Johnson & Johnson in AsPAC, co-leads the country initiative for Johnson & Johnson A/NZ and created the start-up leadership series with CEC for Women in Tech. Ange is creating real change that helps women, and men, work through the challenges faced in the workplace. Through her leadership, she encourages diversity of thought, gender and work habits – leading by example in her daily life. Angela recently made it to the top 20 CIOs in Australia and will no doubt be in the top 10 in the years to come. Her energy and drive to create change and challenge stereotypes is unlimited.
Jordan Foster, Managing Director, ySafe Social Media & Cyber Safety Experts
When she was a then Psychology Masters student, Jordan Foster founded ySafe in 2013 to provide high-quality and evidence based cyber safety education for parents. Jordan experienced certain bias when it came to industry and her age. Despite this, Jordan’s passion and work spoke for itself, and before long she was delivering sessions on cyber safety and effective device management to hundreds of students across Australia. Jordan understands that the essence of true leadership is tapping into the strengths and skills of her team, and as a result constantly strives to create meaning in the workplace for each of her colleagues.
Mofoluwaso Ilevbare, HR Director, Procter and Gamble Australia New Zealand and Founder, Women Connected by Purpose and Thrive in Heels
Mofoluwaso has worked and lived across 4 continents across her career and has over 18 years of experience in the manufacturing, pharmaceutical & non-profit sectors as an Executive Coach and HR Thought Leader. She is a passionate advocate for more women in the boardroom and lives this passion as a Career Growth & WorkLife Balance Coach, WIMBIZ mentor, FATE Foundation Mentor, Cherie Blair Foundation Women Mentor, Mentor for Queens Young Leaders, U.K. She has founded two non-profit organisations, Women Inspiring Women NG and Women Connected by Purpose with members in Nigeria, UK, US, and Switzerland which works to empower widows, young girls and orphanages to create a bigger better future for themselves and their communities.
Paula Kelly Paull, Manager Learning Communities, Hobsons Bay City Council
Working across Corporate, State and Local Government Paula has moved through her career as a working mum to become a recognised leader in the educator and community development space.Paula looks for the strengths in others and shines a light on those attributes. She encourages the people she manages to take calculated risks, to back themselves, to trust their judgement and to always seek assistance or ask for help. Her grown up daughters say she is their hero, greatest champion, and role model – which Paula receives as the most significant of accolades, having not had the benefit of the support of family growing up.
Sallie Stone stands out, not only because she is a tremendous CEO and majority owner of the Australia arm of Hart International, but also because she excels in the male-dominated industry of risk and security. She is dedicated to developing her employees as if they were family and goes out of her way to ensure their personal and professional goals are being met while working for Hart. She wants even her most recent hires to be thinking about their long-term goals and she dedicates time and resources to ensuring the company provides opportunities for them to achieve those goals.
Vanessa Trower, Learning and Development Manager, GWA Group Limited
Vanessa’s family migrated from Palestine in the mid-’60s during the middle east conflict, making Vanessa the first fluent English-speaking woman in her family. Vanessa learnt at a young age that having the support to enable learning was a key factor in the success in someone’s life, thus making this her life purpose and career. She graduated specialising in Training and Development, is the current NSW President for the Australian Training and Development professional membership organisation and is the Learning and Development Manager for GWA Group Limited. She volunteers with the Story Factory Writing Centre supporting Indigenous young people aged 7 to 17 in creative writing to develop the literacy skills that will allow them to flourish and shape a positive future. In 2018, she started her own training business ‘360enliven’ which started by running workshops for ‘over 50’s’ at a community centre to learn computer & social media networking skills to support career opportunities and their quality of life.
Cecilia Vine, Superintendent of Police, Queensland Police Service
Cecilia has over 29 years serving as a police officer and is currently appointed as a Superintendent, fifth highest rank in the organisation and one of only approximately 12 women holding one of these top positions in an organisation of 15,000+. Across her time at Queensland Police, she has broken the glass ceiling to improve the standing of other women within the organisation. She believes everyone has something to bring to the table that is unique, special and valuable and works to build a team of people who build each other up and transfer their skills sets to each other.
The Indigenous Leadership Summit is a comprehensive and inclusive, education-focused program over two summit days and two workshop days, happening on May 26 to 29 in Sydney.
Equal access to opportunity
There has been a lot of debate on representation of indigenous leadership in politics, but there isn’t enough attention given to developing indigenous leaders and creating opportunities for them in both public and private sectors.
It is for this reason that The Leadership Institute is bringing together inspiring leaders, government and industry stakeholders and workplace representatives from across the country in a 4-day summit.
Advancing indigenous talent success
Current and future Indigenous Leaders, senior management, HR professionals and the academia attending the summit will advance their knowledge on how to increase indigenous participation and shape their leadership abilities in a globally competitive world.
Attendees can expect to take away best practice ideas, not only in leadership development, but also in building a highly engaged and productive workforce by empowering indigenous talent. Other benefits of attending include —
Understanding the success formula of influential Indigenous Leaders and the organisations that support them
Learning the strategies to growing your Indigenous workforce and supply chain
Discovering the many opportunities and programs for future Indigenous leaders
How to win the support of stakeholders to grow partnerships and maximise reconciliation efforts
Empowerment, excellence and action
Dana Lightbody, Chair of The Leadership Institute emphasizes the goal of the summit, adding –
“Indigenous knowledge and culture can enrich Australian organisations and make them stand out in the global economy. We are gathering influencers, educators and decision-makers to discuss strategies for indigenous talent success. We’re focusing on overcoming institutional barriers and gaining more opportunities in all areas of leadership.”
The Indigenous Leadership Summit brings together inspiring current and emerging indigenous leaders, government and industry stakeholders and workplace representatives from across the country to examine cultural heritage, leadership opportunities and strengths, and what we can do to ensure greater opportunities in the future. Reserve your spot today.
What are the challenges that could make or break leaders in the future of work? Managing rapid socio-economic and technological change, job automation and disruption, increasing customer expectations, evolving talent needs are chief among them.
Deloitte’s research on Global Human Capital suggests that expanding on traditional leadership skills will enable you to navigate the new and unfamiliar business landscape.
See how your abilities match up in this checklist of competencies based on the study and determine your leadership fitness in the 21st century.
The question is – as a leader, are you able to update your toolkit fast enough to carry your organisation forward?
The quickest way to your leadership development is to learn-by-doing and to seek advice from a supportive community of leading-edge professionals.
ITA BUTTROSE, AO, OBE – Chair of the ABC, Media Trailblazer, Health Advocate and Author
Leading with Purpose
Starting as a journalist at 15 years old, Ita was driven to set the world of media ablaze with a passion that is burning 60 years later – stronger and more focused than ever.
The founding editor of Cleo and the youngest ever editor of The Australian Women’s Weekly, Ita is one of the most accomplished journalists of our time. She is the first woman to ever edit a major metropolitan newspaper in Australia as Editor-in-Chief of the Daily and Sunday Telegraphs, and the first female director of News Ltd Australia.
As the current Chair of the Australian Broadcasting Corporation, Ita forges on her purpose to educate and shape the consciousness of the nation.
“The ABC is Australia’s trusted voice in Asia and the Pacific. It has a proud record of achievement, having told Australian stories, reported fairly and fearlessly, taught generations to speak English and delivered critical information in times of crisis for 80 years.”
She balances this high-profile role with charitable responsibilities with Dementia Australia, Macular Disease Foundation, Arthritis Australia and Breast Cancer Network Australia.
“Being a part of giving back to the community is something that was instilled in me as a child. I had two careers. One in the media and one in the not for profit sector.”
In 2019 she became a Companion of the Order of Australia for her service to the community through leadership in the media, the arts, the health sector and as a role model.
Ita will headline the Authentic Leadership Summit 2020 as our VIP Keynote Speaker on March 18 to share lessons on purposeful leadership inspired by her illustrious career.
From Purpose to Impact
Ita is a fierce champion for press freedom and for raising awareness of public health issues, using her influence to advocate for the health and wellbeing of Australians
“My profile allows me to raise issues that sometimes are neglected, or sometimes they’ve been around for a long time, but nobody can get anywhere. And so I think sometimes you’ve just got to shake people. You’ve got to make them aware.”
In a recent interview at ABC News Breakfast, Ita demonstrates how a clear understanding of your purpose as a leader enables you to push ahead and advocate your cause.
“I think our critics need to think about what is the role of a national broadcaster, why is it important to have an independent national broadcaster like the ABC and why is it very important in a democracy and in an uncertain world, to flourish and bring news and information to the people of Australia.”
Purpose and Passion into Action
For Ita, having purpose and passion is the only way for leaders and their organisations to reach common goals and get things done. Our purpose fuels high-performance by giving us focus.
“If it weren’t for committed people who shared the passion, so many things wouldn’t get done. So many issues wouldn’t be resolved. People who needed to be pressured would not be pressured. We should be grateful that people are prepared to put time and effort into the various causes that affect so many of us.”
Ita will speak at the Authentic Leadership Summit 2020 on March 18 to ignite Australia’s private and public sector to drive wider and more significant impact by leading with purpose.
Discover your ‘why’ – your true purpose and values as a leader by Reserving Your Spot for the Authentic Leadership Summit 2020.
Have you ever been passed over for a promotion after months of preparation and anticipation?
It’s not an uncommon experience – your superior resigns and recommends that you assume the role per the order of succession. Then the powers-that-be supersede your promotion with an external hire.
It’s a massive loss of an opportunity to advance as a reward for your talent and effort. Not only that, but you also lost a trusted boss and mentor, and now you have to start from scratch and build a relationship with the stranger who took your dream job.
It will probably take a week or two to fully recover from the shock, anger and despair of this crushing defeat. While it’s good to give yourself some time to lick your wounds, don’t take too long. You need to bounce back quickly and decide on a path forward.
Three common options come to mind –
Accept the decision and return to your current job
Quit the current job and find another role in the company
Quit the company altogether
Before you decide on your next career move, evaluate your situation objectively. Use this questionnaire as your helpful guide –
If you answered mostly “yes”, trust that you are with the right company, while you were not elevated to the position you desire, it might do you well to stick around. Understand the reasons why you were passed over, resolve to fill the skill gaps and keep performing at your best to be considered for the next round of opportunity.
If you answered mostly “no” it’s probably time to quit and move on. The experience of being denied a coveted promotion can be illuminating once you take the time to self-evaluate. You may discover that you’ve been stuck in a job for too long or that you are not getting the recognition you deserve.
A career rejection is a powerful learning experience. Surviving it can lead to even better opportunities going forward. Start by learning from Australia’s most inspiring businesswomen the tools to advance in your own leadership journey. Register today for The Empowered Woman 2020.
If you are aspiring for senior leadership in 2020, you need to take stock of your social capital – or your likeability factor. Are you generally well-liked by staff, peers and superiors in your company?
You may argue that leadership is not a popularity contest. But to lead successfully in the modern business setting, you need to prioritise winning organisational trust and cooperation over outcomes.
To define what it means to be likeable in this context, consider Nick’s case, a former CFO turned CEO in a medium-sized financial consulting firm. Nick was the obvious choice – he is the biggest brain in the company and has contributed immensely to its strategic growth.
Within a month into the role, the company’s account management team complained to the board that Nick was an exceptional finance guy with zero social intelligence.
The board was optimistic that he will gradually ease into his new role and learn the social skills to lead effectively. But Nick realised that a CEO urgently needed to manage critical relationships, or the business will tank. Recognising that it will take him a long time to adapt, Nick resigned as CEO and retreated to his old job.
Nick’s lack of social intelligence has emerged as the make-or-break leadership quality. Technical smarts and strategic mastery allowed him to be an outstanding individual contributor. But to be an effective CEO, he needed to artfully navigate through complex social constructs – a challenge he was ill-equipped for.
It is worth pointing out that being likeable is not the only trait that makes a leader great. But it is one of those areas that, with some practice, everyone can improve in, therefore making it an important area for development for many current and aspiring leaders.
In our previous post on The Leadership Qualities That Matter, the leaders surveyed have identified communication as the most critical skill to have in your leadership tool kit. And the ability to communicate powerfully is inextricably linked to social influence and likeability. It is the secret sauce of highly successful leaders.
Over the years of speaking with and listening to some of the country’s top leaders, we’ve discovered 3 critical areas where success as a leader is paramount: being likeable, convincing others to accept your way of thinking, and providing high quality feedback.
Here are 27 secrets that leaders should learn if they want to be effective and successful in running a team or organisation.
Social influence and likeability are all about cultivating trust and meaningful engagement. Learn how you can grow your influence and motivate people to succeed from Australia’s most inspirational leaders. Reserve your spot for The Authentic Leadership Summit 2020.
The leadership ladder, it seems, is missing a step and is proving difficult to climb for women.
According to the authors, “fixing it will set off a positive chain reaction across the entire pipeline. As more women become managers, there will be more women to promote and hire at each subsequent level. Put another way, more entry-level women will rise to management, and more women in management will rise to senior leadership.”
But the great news is that everyone, regardless of seniority or gender, can do something to influence diversity in favor of more women rising in your organisation’s hierarchy.
Here are 4 practices you can implement right now.
1. Refer more qualified women candidates
60% of successful hires come from referrals. Actively support your company’s hiring and promotion efforts by referring more qualified women in first-level management positions. Your leaders will surely appreciate your loyalty and regard you as someone who is fully invested in the company’s future success.
2. Nominate more female co-workers for advancement opportunities and initiatives
Studies have revealed that women generally hesitate to put themselves forward when there’s an opportunity for a promotion, a high-profile initiative or any chance to shine in the workplace. Give your overlooked but talented coworker her much deserved kudos. Sing her praises every chance you get for your leaders to take notice.
3. Speak up against unfair bias
No matter where you are in your organisation, you should feel safe to call out bias and act accordingly when you see it. Consequently, you should feel empowered to objectively question policies and systems like performance evaluations, if you observe them to be biased and unfair to women.
4. Start a peer-to-peer training initiative
Training is crucial in preparing women for management roles. If your company does not provide structured training to support and grow a pipeline of female talent, band together and organise a group on your own. Women helping each other to advance their leadership education is an effective way to get the experience they need, raise their profile and be tapped for leadership opportunities.
As the year closes, it’s good to take stock of what we have set out to accomplish. Whether it’s trying to lose weight, learning a new skill or starting a big and audacious initiative at work, how would you score your performance in 2019? How far did you get on with your resolutions and goals?
If you checked everything off your list, well done you high-achieving individual!
But if you somehow failed in reaching an attainable goal because of self-doubt, procrastination or lack of “stick-to-itiveness”, then these 7 Mental Tips to Stay Motivated and Achieve More in 2020might be just what you need!
1. Make S.M.A.R.T. goals
Generally, S.M.A.R.T. goals (Specific, Measurable, Actionable, Relevant, Time-based) are more attainable than abstract ambitions, for example – “sign up at least 10 new customers a month”, or “walk 10,000 steps daily” have a higher probability of success than “increase sales” or “lose weight”.
2. Begin with the end in mind
Hold the vision of the outcome in your head and then work backwards to layout the steps necessary to complete it. This mindset will help you plan strategically through any kind of mission.
3. Do the heavy lifting at the start
Setting up systems and processes is a lot of work but investing in it will eliminate drudgery and optimise your efforts in the long run. For example – cooks who get their mise en place right (a culinary process in which ingredients are prepared and organised before the actual cooking) produce more quality meals in the least amount of time.
4. Celebrate small wins
Research has found that giving yourself a pat on the back for completing even the smallest of tasks is self-motivating. Once you’ve acknowledged that you’re making headway on your goals, you are more likely to increase your efforts and work smarter and faster to achieve them.
5. Focus on the other stakeholders
What can lift you out of a slump is shifting focus toward people who also stand to win or lose from your success or failure. If you have children, for example, thinking about their future will motivate you to stay healthy. In business, thinking about how you’re making your customer’s life better will fuel you to achieve greater.
6. Make it fun
The reality is that work can be tedious and difficult at times. The trick is to focus on the elements that you find enjoyable. For example – updatingthe CRM for most salespeople is an awful chore. One way to make mind-numbing data entry fun is byracing with a coworker – seeing who can get the most done in an hour.
7. Seek out the A Players – highly motivated achievers
To be successful, align yourself with the A players in your organisation. Being part of the A Team is highly motivating – model yourself after them and seek their advice. Ask them about what they are working on and offer help.Real A players are naturally generous and would love any opportunity to teach.