Monday, July 20, 2009
Would You Work For Free?????
Most of us undervalue the services we provide our clients, partly because the market will only bear so much and many of us (Baby Boomers) do not place a high enough value on what we offer our clients in terms of services. Now if we were auto mechanics and we were offering our essential services to get their car back on the road, we would probably say we are charging the right amount or even providing a service at a discount because the end result (car in working condition) is visible and quantifiable. I am in the financial services arena and much of what we do outside of investing does not have the immediate, gratifying feel of driving the car out of the garage, therefore we feel the end user (client) will not pay full price but will grudgingly pay the discount which becomes the basis for even more discounts when the economy or market volatility makes price levels heavy and laden down with human emotions. And once we cut prices we are loath to raise them again for fear of allowing our clients a reason to shop around. The end result: Our services may not be free but the compensation may not be free but it is in many cases not up to the point of what they are worth in the long run but we have already stepped onto the slippery slope of giving away services.
Wednesday, July 15, 2009
Leadership Philosophy
I have been in leadership and management positions for over thirty years. Early in my Army career I along with 200 other second lieutenants were asked to describe our leadership style and the important aspects of how we would lead men and women under our charge. Over the years this first, simple three paragraph statement has grown as my experiences have built upon one another to produce the leader I am today. And I continue to learn as new experiences and techniques come into play. But the tenets of that first plain leadership paper remain the basis of how I lead and manage within the culture of the firm.
I submit for your edification a shortened version of my leadership philosophy. If you would like to see the piece in its entirety, please feel free to contact me.
Leadership Philosophy
I. Purpose of Philosophy.
Leadership first of all is a people business. Our greatest asset goes out the door each night – our team members. Each member of the team should have a deep sense of self respect as well as respect for others within the team.
I envision my role as a leader including the leading and facilitating members of the firm to produce superior results, to develop cohesive processes and attendant policies, and the management of resources. The intent of my leadership philosophy is to provide the guidance necessary for the accomplishment of these three tasks. I must instill confidence in each and every individual and establish open, two-way communications. Loyalty must be a two-way street where all know that the firm cares about them and will take care of them.
II. Statement of Philosophy.
Leadership at executive levels is no different than at lower levels of an organization, the scope has just gotten broader. The principles of leadership remain the same in application. The most significant challenge I face as a leader is to have my "presence" felt throughout the team, even though I am not able to directly influence all of the events taking place. This indirect leadership takes on significant importance, as my will or intent must be infused throughout the team. My contact and subsequent direct leadership of those personnel around me allows for this infusion of my intent to start and spread downward and outward.
The personal interaction with others in the organization; superiors, peers, and team members, requires leadership, direct and indirect, to make an organization effective. The two types of leadership, indirect and direct, go hand in hand. As I have progressed in my career, my direct leadership needs have grown but so have requirements for indirect leadership skills. Until now the two have been used in tandem, based upon the span of control at the time. But at this level I find myself having to rely more on the indirect method to accomplish assigned tasks because of the wide diversity of the skills of our personnel and the ever-increasing complexity of the business environment.
My role as a leader is a combination of leadership and management, but without the people, management can be done without any real personal contact or feeling. My personal actions and behavior will set the example for my team members. If I am harsh or unforgiving, then they will probably be the same. They will do this out of fear or because they perceive that this technique of leadership is effective. I don't believe fear tactics are effective leadership techniques. I feel that all of us; regardless of status or position, want to do the best job possible and will do so if given the opportunity, trust, and resources. I will make this perception known to the firm and understood by all.
My management philosophy reflects the values and beliefs instilled in me by my parents, education, and service to my country. As a professional, I will maintain my vision by realizing it is shaped by my perceptions of the past, present, and future. My attributes as a leader require that I set the example in all that I do, both at work and away from the office. I will be a teacher, coach, and mentor to those on my team. I must provide the necessary direction and purpose to team members to achieve the integration and synchronization of the efforts of all members of the team. This direction takes the form of my vision while the purpose, long term or short, is embodied in my intent.
My vision for the team also includes the prioritization of the team's efforts, which ties back into unity of effort. The direction, which I establish, and subsequent prioritization, will contribute to the building of the required team effort.
Conclusion:
I will place the welfare of the team and firm ahead of any personal gain or advantage I may receive from position as Chief Executive Officer. I am responsible for all that my team does or does not do, for what reward or promotion I receive is a result of what my team accomplishes, not what I am able to personally do. Team members produce the results and they will receive the credit.
I submit for your edification a shortened version of my leadership philosophy. If you would like to see the piece in its entirety, please feel free to contact me.
Leadership Philosophy
I. Purpose of Philosophy.
Leadership first of all is a people business. Our greatest asset goes out the door each night – our team members. Each member of the team should have a deep sense of self respect as well as respect for others within the team.
I envision my role as a leader including the leading and facilitating members of the firm to produce superior results, to develop cohesive processes and attendant policies, and the management of resources. The intent of my leadership philosophy is to provide the guidance necessary for the accomplishment of these three tasks. I must instill confidence in each and every individual and establish open, two-way communications. Loyalty must be a two-way street where all know that the firm cares about them and will take care of them.
II. Statement of Philosophy.
Leadership at executive levels is no different than at lower levels of an organization, the scope has just gotten broader. The principles of leadership remain the same in application. The most significant challenge I face as a leader is to have my "presence" felt throughout the team, even though I am not able to directly influence all of the events taking place. This indirect leadership takes on significant importance, as my will or intent must be infused throughout the team. My contact and subsequent direct leadership of those personnel around me allows for this infusion of my intent to start and spread downward and outward.
The personal interaction with others in the organization; superiors, peers, and team members, requires leadership, direct and indirect, to make an organization effective. The two types of leadership, indirect and direct, go hand in hand. As I have progressed in my career, my direct leadership needs have grown but so have requirements for indirect leadership skills. Until now the two have been used in tandem, based upon the span of control at the time. But at this level I find myself having to rely more on the indirect method to accomplish assigned tasks because of the wide diversity of the skills of our personnel and the ever-increasing complexity of the business environment.
My role as a leader is a combination of leadership and management, but without the people, management can be done without any real personal contact or feeling. My personal actions and behavior will set the example for my team members. If I am harsh or unforgiving, then they will probably be the same. They will do this out of fear or because they perceive that this technique of leadership is effective. I don't believe fear tactics are effective leadership techniques. I feel that all of us; regardless of status or position, want to do the best job possible and will do so if given the opportunity, trust, and resources. I will make this perception known to the firm and understood by all.
My management philosophy reflects the values and beliefs instilled in me by my parents, education, and service to my country. As a professional, I will maintain my vision by realizing it is shaped by my perceptions of the past, present, and future. My attributes as a leader require that I set the example in all that I do, both at work and away from the office. I will be a teacher, coach, and mentor to those on my team. I must provide the necessary direction and purpose to team members to achieve the integration and synchronization of the efforts of all members of the team. This direction takes the form of my vision while the purpose, long term or short, is embodied in my intent.
My vision for the team also includes the prioritization of the team's efforts, which ties back into unity of effort. The direction, which I establish, and subsequent prioritization, will contribute to the building of the required team effort.
Conclusion:
I will place the welfare of the team and firm ahead of any personal gain or advantage I may receive from position as Chief Executive Officer. I am responsible for all that my team does or does not do, for what reward or promotion I receive is a result of what my team accomplishes, not what I am able to personally do. Team members produce the results and they will receive the credit.
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