Hartford Business Journal

www.HartfordBusiness.com October 26, 2015 • Hartford Business Journal 21 BIZ BOOKS Tips for maintaining long-term business success "E ndless Encores — Repeating Success through People, Prod- ucts and Profits" by Ken Gold- stein (The Story Plant, $22.95). Goldstein, the former CEO of shop.com, tells the story of business travelers Paul and Daphne engaging in "barstool psycho- therapy" about facts and foibles of business while waiting for their flight. Their conver- sation centers on "what's up and what's next." To frame your mindset substitute your name for Paul. Here are some lessons Paul learned: Success fades quickly when you believe that prior years' hits will ensure ongoing relevance. Think of rock n' roll. Bands like the Rolling Stones and AC/DC have endured and prospered because they're not content to play their hits and maintain their audience. New material ensures they grow their audience. Message: A limited rep- ertoire ensures a limited future. Success involves risk; get comfortable with the uncomfortable. While your cus- tomers are satisfied with what you offer now, think outside their box. Ford Motor did that when it introduced Synch, a hands- free communication and entertainment system. Was it perfect? No. But it was first. Message: "What else can we do for custom- ers that can build our core business, too?" An idea is just that — until there's a team that can build it into a viable product. It's all about talent. That doesn't mean that all the right people are all in the right places. It involves the mindset of that talent. Does the team aspire to "extraordinary?" If so, it will self-select those who are willing to settle for less, and jettison them. Does the team realize that achieving the organizational goal will help teammates reach personal goals? Teams with extraor - dinary aspirations understand that collaboration hones their talents and skills. Key takeaway: "The only thing over that hill is another hill." Find a way to climb it, or stay in the Point A valley resting on your laurels and playing "Woulda Coulda Shoul- da" while watching others climb. • • • "Getting Beyond Better — How Social Entrepreneurship Works" by Roger L. Martin and Sally R. Osberg (Harvard Business Review Press, $30). Social entrepreneurs (SE) differ vastly from social services providers because they build a scalable model for system change, rather than grudgingly accepting system equi- librium limitations (i.e. doing what they can with the status quo hand they're dealt). "They don't build on the works that preceded them so much as question and redefine it." An example: Andrea and Barry Coleman used their enthusiasm for riding motorcycles to transform the way healthcare services are delivered in sub-Saharan Africa. They realized that medicine and health treat- ments offered by social services providers didn't reach many of those in need because of a lack of transportation capable of navigating trails and poor roads. They formed Riders for Health (RH) foundation, which raises funds for motorcycles for healthcare organizations and provides fleet manage- ment and repair services on all their vehicles. It estimates that 2.9 million extra people each year have interactions with health work- ers riding a Riders-managed motorcycle. The SE reengineers the social services model to shift the value equation to the benefit of the disadvantaged. "They confront the soci- etal structures that leave too many behind." Showing governments, nonprofits, foundations and businesses different system-altering paths that work, SEs increase those organizations willingness to pay for additional investments. Far from its operating-shoestring beginning, RH now counts numerous foundations and corporate sponsors among its funding sources. Many individuals donate motorcycles, trucks and cars to further its cause. The books chronicle the stories of SEs whose service- delivery models changed sys- tems for the better in health care, education, child labor and information access/knowl- edge-sharing. n Jim Pawlak is a nationally syndicated book reviewer. Jim Pawlak EXPERTS CORNER Prepare for leadership transition by thinking like a Millennial By Brent Robertson L eadership transitions tend to take place behind closed doors, where a small group tries to replace the outgoing leader while mitigating disruption as best they can. Unfor- tunately, the results of this approach tend to leave organizations fixated on preserving the status quo instead of moving forward. But it doesn't have to be that way. Successful leader- ship transitions can and should begin with empowering new leaders to actively engage with the entire organization to create its future. The process can be cathartic and ener- gizing if taken on in an open and inclusive way. Interestingly, this is how Millennials natu- rally think and work. Millennials look at the world differently and have some incredibly valuable things to contribute to the traditional ways the rest of us think and work. They collaborate by default and encourage diverse ideas to solve a problem; They are high- ly networked and work in rapid-fire, interactive ways; They are driven to succeed and break down hierarchies and silos to make progress; and they have an inherent understanding of how to use tools and technologies. Leveraging Millennials' way of thinking can make all the difference in creating the condi- tions for a more successful leadership transition. When beginning your leadership transition con- versation, consider the following framework. 1) Languaging possibility Begin with a big question such as, "What would be true if this transition is success- ful?" This question invites responses that go beyond just objectives or goals and speak to possibilities and how the organization can be shaped by the transition. Write down all ideas, no judgment. Work through them one- by-one so everyone understands what was meant and come to an agreement on which of these ideas your team is willing to own. 2) Provisioning possibility Now that you've identified what success looks like, ask, "What are the most essential things that need to be provided to have this possibility become a reality?" This question enables each member of the team to contribute what he or she sees objectively, without regard to current roles or historic structures. Capture all ideas and establish understanding and agreement. 3) Actioning possibility With a clear understanding of what needs to be provided, ask, "Who will commit to pro- viding what's most essential?" This encourages willing action from the team. It also allows them to ask for what they need to be successful. How to be It's not enough to do things differently; We also need to be different in how we conduct ourselves in these conversations. Let go: If you are a current leader, you need to let go of any expectation of how any of this will go. Be willing not to be the one with the answer, instead drawing the answer out of your team. This is especially important if you are the leader who will be transitioning out of the organization. Play, don't lead: You can't effectively facilitate these conversations if you have skin in the game and you can't effectively contribute to them if you are also leading them. Consider hiring a facilita- tor to lead the conversation who is an expert at helping organizations successfully navigate stra- tegic initiatives in an inclusive way. Hold the space: If you are in a leadership position, you need to demonstrate what direct, objective contribution looks like. Be vulnera- ble, contribute fully, say what you see, how you feel, and others will do the same. Probe and ask so you can truly understand what someone else is trying to say or contribute. This approach isn't just useful for leadership transitions. You can also use it with any other strategic initiative — be it entering a new market or designing a new program — to get the hang of it before applying it to a leadership transition. Leadership transitions are something organizations will inevitably face as the larg- est generation in history, Baby Boomers, exit the workforce, and the Millennial generation takes over (Millennials will make up more than 50 percent of the workforce by 2020). If we take a page from Millennials' way of thinking, and create conditions that lever- age their strengths, a leadership transition can leave your organization in the driver's seat of its own bright future. n Brent Robertson is a partner at West Hart- ford strategic consultancy Fathom. Brent Robertson ▶ ▶ Success fades quickly when you believe that prior years' hits will ensure ongoing relevance.

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