What does a CEO bring to the show?
Start Something, Columbia! welcomed its first guest host today. Ronald Harvey of Global Core Solutions joined Larry Jennings of Capsure Studios on 100.7 The Point to deliver this week's edition of the show by entrepreneurs, for entrepreneurs in the Columbia, S.C. market.
Here are the show notes:
Theme for the day:
CEO leadership -- what it’s worth, what it requires, how you know it’s being done right, wartime vs. peacetime CEOs
We’re giving some time to our 1MC presenter today Fiona Martin of FGM Internet Marketing (will call in at 9:08 a.m.)
We’ll be finishing with The Hard Thing About Hard Things today with this CEO leadership conversation.
We’ll be learning more about Ron Harvey and what he does as we go.
Lastly, we’ll cover the events happening this week and relevant to entrepreneurs.
Segment 1 (9:08-9:20):
This week at 1 MC -- Fiona Martin of FGM Internet Marketing; she’s been a guest caller before talking about internet marketing and she led a Women’s Business Center Twitter chat a few weeks back on the same topic. We’re glad to welcome a 1 Million Cups Sponsor and community member to the show.
Questions for Fiona:
What made you strike out on your own?
What’s the toughest part of being an entrepreneur?
What do you hope to get out of your 1MC talk tomorrow?
Segment 2 (9:20 – 9:45):
General Leadership skills needed in the business space - whether you are a CEO or just a floor manager:
Top 10 Skills every great leader needs:
Inspires and motivates others
Displays high integrity and honesty
Solves problems and analyzes issues
Drives for results
Communicates powerfully and prolifically
Displays technical or professional expertise
Displays strategic perspective
CEO Leadership- what is it worth?
Not only is good CEO leadership vital to company morale and goodwill among employees, it is valuable in the market, too. Harvard Business Review states
“We found that nearly one half of a company’s corporate reputation (45%) is attributable to its CEO’s reputation. Similarly, 44% of a company’s market value is attributable to its CEO’s reputation. Tellingly, one-half (50%) of the global executives we surveyed report that they expect CEO reputation to matter even more over the next few years. Global executives also say that a positive CEO reputation attracts new employees (77%) and helps to retain them (70%).”
Almost HALF of a company’s value comes from the reputation of the CEO! The value of good CEO leadership also comes in the ability to attract and hire great employees.
HBR also states the most important characteristics of value-adding CEO’s are humility, visibility, and persuasiveness.
How CEO values shape company performance and therefore, value
CEO Leadership - what does it require?
Forbes: The three C’s: Credibility, Caring, and Competence
don’t be a jerk,
recognize and reward,
deal with problems fast
High performing companies require high performing CEOs who have high performing leadership strategies
What Makes a CEO different than employees?
Intrepid (Calculated Risk Taking, Biased toward thoughtful action, optimistic, constructively tough minded), and
Team Building (efficient reader of people, measured emotion, pragmatically inclusive, and willingness to trust)
Being a good CEO requires looking out for future success, which entails: Knowing your market, being self aware, tackling bad news head-on, cultivating a value edge, expanding your network, being realistic about company values, making alignment a priority, being passionate without losing your perspective, getting a sales lead that isn’t you, and not overestimating top line growth above all else.
CEO Leadership - is it being done right?
Look at examples of good leaders and emulate them- inclusive attitude/team-oriented (Todd Devine), team player (Sheila Johnson), constructive critic (Jeff Weiner), empowering (Phil Libin),
Positive influence (Tony Hsieh)
Listen to employees, involve them in the process and answer their questions. Open lines of communication are the best way to establish trust, and if there is trust in a relationship, there will be mutual respect and admiration.
Expected around 9:35:
Caller 2 -- Dr. Katrina Spigner, from Columbia College and President and CEO of Re-Source Solutions
has 15 years experience as a leader in the nonprofit sector, a certificate in Clinical Pastoral Education, certification in Personal & Executive Coaching from the Coaching and Positive Psychology Institute, and a Doctorate in Education with a concentration in Organizational Leadership from Northeastern University.
Re-Source Solutions, LLC services and products include: executive coaching, personal coaching, organizational consulting, organizational talent development, keynote presentations; books, and workshops.
Welcome, Dr. K. We’ve been talking about _____________
CEO Leadership - Wartime or Peacetime?
Peacetime in business means those times when a company has a large advantage vs. the competition in its core market, and its market is growing. In times of peace, the company can focus on expanding the market and reinforcing the company’s strengths.
In wartime, a company is fending off an imminent existential threat. Such a threat can come from a wide range of sources including competition, dramatic macro economic change, market change, supply chain change, and so forth.
Peacetime CEO knows that proper protocol leads to winning. Wartime CEO violates protocol in order to win.
Peacetime CEO focuses on the big picture and empowers her people to make detailed decisions. Wartime CEO cares about a speck of dust on a gnat’s ass if it interferes with the prime directive.
Peacetime CEO builds scalable, high volume recruiting machines. Wartime CEO does that, but also builds HR organizations that can execute layoffs.
Peacetime CEO spends time defining the culture. Wartime CEO lets the war define the culture.
Peacetime CEO always has a contingency plan. Wartime CEO knows that sometimes you gotta roll a hard six.
Peacetime CEO knows what to do with a big advantage. Wartime CEO is paranoid.
Peacetime CEO strives not to use profanity. Wartime CEO sometimes uses profanity purposefully.
Peacetime CEO thinks of the competition as other ships in a big ocean that may never engage. Wartime CEO thinks the competition is sneaking into her house and trying to kidnap her children.
Peacetime CEO aims to expand the market. Wartime CEO aims to win the market.
Peacetime CEO strives to tolerate deviations from the plan when coupled with effort and creativity. Wartime CEO is completely intolerant.
Peacetime CEO does not raise her voice. Wartime CEO rarely speaks in a normal tone.
Peacetime CEO works to minimize conflict. Wartime CEO heightens the contradictions.
Peacetime CEO strives for broad based buy in. Wartime CEO neither indulges consensus-building nor tolerates disagreements.
Peacetime CEO sets big, hairy audacious goals. Wartime CEO is too busy fighting the enemy to read management books written by consultants who have never managed a fruit stand.
Peacetime CEO trains her employees to ensure satisfaction and career development. Wartime CEO trains her employees so they don’t get their ass shot off in the battle.
Peacetime CEO has rules like “we’re going to exit all businesses where we’re not number 1 or 2.” Wartime CEO often has no businesses that are number 1 or 2 and therefore does not have the luxury of following that rule.
Segment 3 (9:45/9:50):
Events of the week
1 Million Cups Columbia featuring Fiona Martin, 9 a.m. Richland Library Wednesday morning
Women’s Business Center of SC presents Office Hours with the Ultimate Mompreneur, Shennice Cleckley and the Queen of How, Kasie Whitener. Friday morning at the McNair Center at Columbia College. Register on eventbrite.
Caffeinated Conversations with the United Way of the Midlands on the topic of How Small Business Can Make a Big Impact. Ron Harvey and Ashlye Wilkerson, both 1MCers and friends of the show, will be part of that event. It’s Wednesday June 27th from 7:45 until 9 at Midlands Technical College’s Center for Entrepreneurial Success. Register on uway.org/events
Q&A -- be sure to promote the phone number 799-8255; let people call in, tweet us, email them, collect them at 1MC, create a list of questions and answers
Next week Larry will be joined by guest host Shennice Cleckley, the Ultimate Mompreneur and owner of My Dessert Bar.