Other Articles Worth Reading in the Spring 2009 issue of OnPoint

1. 7 Ways to Fail Big: Lessons from the most inexcusable business failures of the past 25 years (Carol and Mui). These guys studied 750 of the biggest business failures over the last 25 years (many of which could have been avoided). They came out with 7 big findings you might want to explore in depth: The Synergy Mirage, Faulty Financial Engineering, Stubbornly Staying the Course, Puesdo-Adjacencies, Bets on the Wrong Technology, Rushing to Consolidate, Roll-Ups of Almost Any Kind.

2. Reputation and Its Risks (Eccles, Newquist and Schatz). The authors set up the value in considering reputation management as a discipline in any company early on the article when they tell us that 70-80% of market value comes from brand equity, intellectual capital and goodwill! Thus, reputation is jugular! See the detail by reading the entire article that speaks about how to 1) Assess current reputation with stakeholders; 2) Evaluate performance in those key categories; 3) Close any gaps that you identify; 4) Monitor changes in stakeholder’s opinions and expectations: 4) Designate one person in charge of reputation management.

LOTS MORE IN THIS QUARTERLY. BUY IT FOR EVERYON ON YOUR SENIOR TEAM AND HAVE AN OFF-SITE RETREAT TO DISCUSS IT.

Executive Transition: The First 90 Days

This is the 2nd of several posts of the coming week based on my book review of The First 90 Days: Critical Success Strategies for New Leader at All Levels by Michael Watkins (Harvard Press).
Executives coming into a company fail at the rate of 40-50% at a cost of $2.7 million to the company.

1. Promote yourself: Don't get stuck trying to do your old job. Let go and move on and don't assume what got you here will get you there (what Marshall Goldsmith's latest best seller is all about).

2. Accelerate your learning: Get systematic and focused about learning first things first (akin to what Stephen Covey also suggests)

3. Match strategy to the situation: Diagnose whether the new challenge for the transitioning executive involves a Start up, Turnaround, a Reorganization, or Sustaining Success (STRS). This is a critical distinction made by the author.

Executive Coach to President Obama

Third in a series of observations....

3. Lead with your incredibly even-handed personality: “It’s really true that I am even tempered. I do get angry, but it’s a controlled anger. I don’t blow up at people….”

Avoid overreacting to the success and failure that will inevitably happen—they’re both imposters. Leaders, especially presidents, always speak with “worldwide megaphones.” Whatever you say will be heard as coming from on high. As such, leaders in general and world leaders specifically don’t simply have opinions; rather, their opinions are heard by others as commandments. Speak softly and remain even handed.