Hartford Business Journal

September 12, 2016 — CFO of the Year Awards

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www.HartfordBusiness.com September 12, 2016 • Hartford Business Journal 29 BIZ BOOKS How to encourage divergent thinking for future success "O ut Think: How Innovative Lead- ers Drive Exceptional Out- comes" by G. Shawn Hunter (Jossey-Bass, $24.95). Imagination, ideation and innovation aren't buzz words. They're the core of the intellectual capital required to grow any business. Inquisitiveness and inquiry, other "I" words, grow intellectual capital. The first drives the what of creativ- ity; the second the how. Curiosity deals with exploring what we don't know. It pokes and pries with a purpose. That pur- pose is learning — which leads to continuous improve- ment (i.e. imagination, ide- ation and innovation). When running a business, manage- ment and employees tend to get caught up in the what's- happening-now zone. In that narrow-view zone, convergent thinking also develops; this makes it difficult to broaden outlook and explore new ideas and approaches. When the organization's mindset shifts to "what do we need to do today in order to grow," questioning of today's methods and processes integrates seamlessly into the daily routine. Divergent thinking begins; it becomes a way to shift perspectives, share knowledge, discuss alternatives and build for tomorrow every day. Additionally, people will look outside the organization for information and inspiration as they search for possibilities. They realize that a growth-centric business has no intellectual borders. This accelerates their learning and contributions. As a result, the individuals and the firm rede- fine their edge. No one fails; they learn — and share. The growth organization flattens as people communi- cate and connect their dots to others. Innovation grows "based on trust, appreciative inquiry, great aspiration and deep exploration." The flat- tened organization "streamlines and distributes leadership." The organization provides the replicable and scalable opera- tional process. This allows employees to own their jobs, embrace organizational goals and shoulder accountability for goal achieve- ment. It also provides the organization with a template for "internalizing and sharing what works," what doesn't and adapting to change. Hunter's message: To gain and maintain a competitive advantage, recognize that "culture defines outcome." Thinking what if and what's next results in dot-connecting actions that produce growth outcomes. • • • "The Economy of YOU: Discover Your Inner Entrepreneur and Reces- sion-Proof Your Life" by Kimberly Palmer (AMACOM, $21.95). During the workweek, my friend Oliver is the VP of a nonprofit; on the weekends for the past 15 years, he's a wedding DJ. Palm- er's book is about people like my friend — side-giggers who have a sustainable (but not always predictable) second income. It isn't always about the money; it's about a reason. Many see side gigs as a way to "do what they are." Some see it as a way to launch a "do what you are" full-time business while having the financial safety of a day job. Some use moonlighting to build new skills and make new contacts. Others see side gigs as a way to have some control over what they do and how they do it. Palmer gets real when it comes to a choice of side gigs. She dismisses the "Internet-based work from home" and multi-level marketing gigs as lots of sizzle but no steak (i.e. money). Side gigs should fit well with your day job's schedule and "take advantage of your unique cre- ativity and skill set." One-on-one services, anything involving creativity or specialized brainpower are "solid bets." Even though it's a sideline business, a side gig demands time, money and atten- tion. Oliver spends more time market- ing his DJ services than he does behind the turntable. He has to maintain his website, stay abreast of the lat- est music from numer- ous genres and remain in constant contact (via email, blogging and other social media) with wed- ding/event planners and banquet facilities — all in the hours after his day job. Appendix A provides pro- files of 50 side gigs and the people who found success in them. n Jim Pawlak is a nationally syndicated book reviewer. Jim Pawlak EXECUTIVE MANAGEMENT Seven ways to take control of your meeting By Andy Singer W hether we like it or not, most of us will spend a significant amount of our careers attending various meet- ings. These meetings may be with coworkers, clients, suppliers or others. While many of us dislike meetings, they do serve an important business purpose. When meetings are chaired and conducted well, they can help us achieve goals in a more timely fashion, while greatly increasing our chance of suc- cess. The key is that meetings need to be well run, organized and efficient. Run- ning meetings is like an art form and it is helpful to learn from others that have mastered the skill. Here are seven ways to take control of your meeting: 1. Have an agenda: A concise and well- written agenda will greatly improve the effi- ciency of your meeting. The agenda should be circulated in advance so that attendees can come prepared and know what to expect. This will lead to a more focused discussion and keep everyone on target. I will typically send out an agenda as soon as possible after the conclusion of the previous meeting. The agenda should also clearly state desired goals, actions and outcomes. 2. Invite the right people: Any team can only be as successful as the people select- ed for the mission. You should carefully con- sider which employees will be able to best support the meeting and assure the goals are achieved. Once you have determined who to invite, be sure to get buy-in from their super- visor when appropriate. 3. Mind the time: Time is a valuable and limited resource, use it wisely. Be sure the meeting gets started on time and help oth- ers to be efficient. Starting at the determined time will help those who are late learn to be on time, for future meetings. If the discus- sions are moving off topic, bring the meeting back in focus. The attendees will appreci- ate your respect for their time and you will achieve more in less time. 4. Communicate: Human interaction is always elevated when communication is effective. Be sure that the chairperson is an experienced and effective leader and com- municator. You should also assure that there is a whiteboard or flipchart for when group discussions require illustration. 5. Assign action: It's important to clearly assign roles and responsibilities. This begins with you, or a designee, taking careful notes during the meeting. Any action items should be noted with a specific responsible person and a due date. Follow up on these items is critical to success. 6. Control as required: You always want to encourage participation and con- tributions, but you also need to maintain control. You should hone your skills at both drawing out participation from quieter mem- bers of the team and controlling members who may get a little too wound up. It's worth- while to get to know each at the first meeting on a long-term project. This helps you under- stand what types of personalities you will be supporting or corralling, as the case may be. 7. Celebrate: Your team will remain highly motivated when you celebrate mile- stones and wins as a team. A lunch or simi- lar event is a great way to celebrate together and provide a reward to the team. I have also found it can be motivating to give long-term projects a descriptive and appealing name. At the end of the meeting it's always good to summarize the discussion and be certain that all action items are understood. You also want to strive and end your meetings on a positive note. As a leader, it's your job to keep everyone engaged. The best results occur when meetings are well run. n Andy Singer is the president of Singer Executive Development, a professional training and development company that helps optimize business performance. Andy Singer ▶ ▶ To gain and maintain a competitive advantage, recognize that 'culture defines outcome.' Thinking what if and what's next results in dot-connecting actions that produce growth outcomes. ▶ ▶ When meetings are chaired and conducted well, they can help us achieve goals in a more timely fashion, while greatly increasing our chance of success. The key is that meetings need to be well run, organized and efficient.

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