The Most Undervalued Leadership Traits Of Women

It’s impossible to respect, value and admire great leadership if you can’t identify what makes a leader great.  Because of this, the identity crisis I have written about that exists in today’s workplace is something that women leaders in particular have been facing  for much too long. While the tide is changing and more women are being elevated into leadership roles, there is still much work to do. As of July 2013, there were only 19 female elected presidents and prime ministers in power around the globe.  In the business world, women currently hold only 4.6 percent of Fortune 500 CEO positions and the same percentage of Fortune 1000 CEO positions.   As women continue their upward trajectory in the business world, they have yet to be fully appreciated for the unique qualities and abilities they bring to the workplace.

Like many who grow up with a Hispanic upbringing, I was surrounded by strong-willed, hardworking and purpose-driven women. It is through their leadership that the traditions, values and legacy of our family have been upheld.  My grandmother, mother, wife, and sister-in-law all possess natural leadership skills and they are masters of opportunity management – seamlessly keeping us all in check while running the family household and at the same time supporting our family businesses.  They have taught me that a woman’s instincts and emotional intelligence can be off the chart. They seamlessly manage crisis and change and are turnaround experts – sensing and neutralizing any signs of danger well before it invades our path. It is because of the women in our family that we are well-organized, full of love, spiritually aligned and well-balanced. We are by no means a perfect family, but we are a modern family who embraces traditions even as we adapt to changing times.

It can be difficult for a man to understand how women think, act and innovate unless  he has been closely influenced by  the women in his life.   I’ve learned that women may process things differently and  in their own terms. Fortunately for me, I’ve been influenced by great women who made me appreciate their approach towards leadership. I’ve grown to understand their decision-making processes, the dynamics and subtleties of their personality and style, and other special character qualities that women possess.

The best women leaders I know have circular vision that enables them to be well-rounded people.  For example, they have their finger on the pulse of the culture and can talk to you about the latest pop-culture news – but then easily switch gears to give you their perspective on what is taking place on Wall Street.  Women leaders seeking a chance to be significant see the world through a lens of opportunity; they are especially in search of those opportunities previously unseen (perhaps this is why the women I know enjoy a good treasure hunt).   My experiences have taught me that great women make it a point to teach men about women.

I’ve seen women run the show for years both at home and in the workplace, which has enabled me to recognize behavior patterns and see the value behind their way of doing things.  These women are master multi-taskers and highly collaborative (though not afraid to get territorial to protect their domain).  They enjoy their own space to test themselves and find their own rhythm.  These women leaders are like scientists: many of them want to make new discoveries or solve for problems where others have failed.   The women leaders I’ve been around don’t stop pursuing until the job gets done. This is why I believe they are good collaborative leaders – not afraid of trial and error as long as they continue to build the resource infrastructure around them that gets them closer towards accomplishing their goals.   As one of my women mentors told me, “Without enough of the right resources around me, I will not risk the outcome. I know the resources I need to get the job done right.

I’d rather be patient than foolish.”

The women leaders I know invest in themselves and become knowledge seekers. They are not afraid to ask questions when given a safe platform to express themselves. For example, during my keynote and conference appearances – more often than not – it is the women who ask me the most questions and they are also more inspired to adopt new ideas and ideals.  Though extremely curious, it’s often balanced with a bit of skepticism    – after all, they don’t want to be fooled or taken advantage of.   My experiences have taught me that women leaders need to trust a person before they will endorse what they have to say.   Many just want to know that there is legitimacy behind the opportunity.

As I’ve learned from my women bosses and mentors, they want things to be authentic yet practical. These women leaders enjoy a good challenge – and seek to find meaning and purpose from each circumstance they face and opportunity they are given.  They like to see and understand the connectivity of thoughts and how they work or why they don’t.   They want all the facts and figures before making important decisions.

Competitiveness amongst themselves may really be about looking for validation — an identity that matters and a voice that is heard.  Successful women leaders don’t rely on favors; they earn respect   and truly believe they can influence their own advancement by serving others.  Consummate team players, they also seek to prove their value and self-worth by exceeding performance expectations..  Looking for respect more than recognition, the most successful women leaders don’t seek to become the star of the show — but they enable others to create a great show.  In other words,   being in the spotlight is not what drives them – but rather it’s the ability to influence positive outcomes with maximum impact.

One thing is certain: these women leaders understand survival, renewal and reinvention. They have grit and are not afraid to fight for what they believe in or an opportunity to achieve something of significance. They believe in what they stand for, but that doesn’t mean they won’t put their ideas and ideals to the test.  For them, doing more with less is simply a matter of knowing how to strategically activate those around them.

While women leaders have their productivity secrets, it’s not secret where they come from:  the leadership traits that women leaders naturally possess and – based on my personal and professional experiences  – are the most undervalued.

1.  Opportunity-driven
When confronted with a challenge, the women I know look for the opportunity within. They see the glass as half-full rather than half-empty.  They push the boundaries and, when faced with adverse circumstances, they learn all they can from it.  Optimism is their mindset because they see opportunity in everything.

Estée Lauder, the child of Hungarian immigrant parents, was quite the opportunist in the cosmetics industry. During the postwar consumer boom, women wanted to start sampling cosmetic products before buying them. Lauder noticed and responded to this shifting dynamic by pioneering two marketing techniques that are commonly used today: the free gift and the gift-with-purchase. It’s exactly this type of inventiveness that other women use to pursue the opportunities in front of them.

2.  Strategic
Women see what often times others don’t see.  As one of my women mentors told me, “A woman’s lens of skepticism oftentimes forces them to see well beyond the most obvious details before them.  They enjoy stretching their perspective to broaden their observations.  Many women are not hesitant to peel the onion in order to get to the root of the matter.”

At times they “play the part” to test the intentions of others and to assure that they are solidly grounded and reliable. Successful women leaders know how to play the game when they have to – and can anticipate the unexpected.    They know what cards to play and keenly calculate the timing of each move they make.

I wouldn’t be surprised to learn a woman leader made the word “organic” a business term.   I learned that women who enjoy the ebbs and flows of business activity also know that the best things are accomplished when they are done naturally – and unforced.  When things are happening organically, this means that they are functioning within a natural rhythm and speed – that is safer and risk adverse.

This is not to say that women are uncomfortable with risk – in fact,  they will often tackle risk head-on in order to get to the root cause of  a problem and to solve for it (they value time and money).  Women leaders who don’t allow their egos to stand in the way of good business are in the mindset of getting things done for the betterment of a healthier whole.

3.  Passionate 
While women in general were historically viewed and stereotyped as emotional leaders by men, I believe they are just passionate explorers in pursuit of excellence.   When women leaders are not satisfied with the status quo, they will want to make things better.  These women leaders get things done and avoid procrastination. As another one of my women mentors said, “They enjoy order and stability and a genuine sense of control. Many women have learned not to depend upon others for their advancement and thus have a tendency to be too independent.  A woman’s independent nature is her way of finding her focus and dialing up her pursuits.”

When these women leaders are locked into what they are searching for – move out of the way.  Their passionate pursuits allow them to become potent pioneers of new possibilities.  No wonder minority women represent the largest growing segment of entrepreneurs.

 According to a report by the Center for Women’s Business Research, U.S. Hispanic and African American women entrepreneurs  grew at rates of 133.3% and 191.4% respectively from 1997 to 2007.

4.  Entrepreneurial 

Entrepreneurship is just a way of life for many women.   They can be extremely resourceful, connect the dots of opportunity and become expert in developing the relationships they need to get the job done.   Many women leaders also see through an entrepreneurial lens to best enable the opportunities before them.    They know that to create and sustain momentum requires 100% focus on the objective   – and so they don’t enjoy being disrupted by unnecessary noise and distractions.

As one of my former women bosses told me, “Women can play into the politics of the workplace, and do so if it means adding value to the momentum they are attempting to create.”

Many women leaders find excitement and motivation by being extremely creative and resourceful when completing tasks and other duties and responsibilities –. They avoid falling too far behind on projects – knowing that if they do it will disrupt their focus and momentum.   That is why I learned never to disrupt a woman’s focus and concentration if I can avoid it.

My former female boss continued by saying, “This is why women like control.  Not necessarily to be in charge, but to not lose the rhythm or compromise the momentum they need to accomplish their goals.”

5.  Purposeful and Meaningful

I have found that many women leaders enjoy inspiring others to achieve. They know what it’s like to be the underdog and work hard not to disappoint themselves and others.  Women leaders in particular often have high standards and their attention to detail makes it difficult for others to cut corners or abuse any special privileges.

Women leaders with a nurturing nature are good listeners and excellent networkers/connecters. They enjoy creating ecosystems and support a collaborative leadership style that melds the thinking and ideas of others; this is what multiplies the size of an opportunity and/or its speed in execution in order to create a larger sphere of influence and overall impact.  Women who don’t have to be right all the time make good consensus builders and will more likely enjoy participating in a team environment.

6.  Traditions and Family
Whether at home or at work, women are often the glue that keeps things together and that is why they represent great leadership for America’s future.  When they sense growing tensions that can lead to potential problems or inefficiencies, the most successful women leaders enjoy taking charge before circumstances force their hand.   Women are usually the ones to secure the foundational roots of the family and to protect family and cultural traditions from wavering. They provide the leadership within the home and in the workplace to assure that legacies remain strong by being fed with the right nutrients and ingredients.

The most successful women leaders are big believers in team building and the enforcement of mission, goals and values to assure that everyone is on the same page with like intentions.  This secures a sense of continuity making it easier for everyone to have each other’s backs.  No wonder women are assuming more management and leadership roles in family owned businesses.

To the great women in my personal and professional life, thank you for the opportunity to be inspired and mentored by your leadership (you know who you are).  I’ve read many things about women in the workplace and their lack of advancement into senior executive roles and in the boardroom.  Rarely have I read something from a man who has been inspired and influenced by the wisdom of a woman’s leadership.  Hopefully this perspective helps awaken more of us to the opportunity of learning about leadership from the women in our lives, whether in the home or at work.

Glenn Llopis, 

The Most Undervalued Leadership Traits Of Women

It’s impossible to respect, value and admire great leadership if you can’t identify what makes a leader great.  Because of this, the identity crisis I have written about that exists in today’s workplace is something that women leaders in particular have been facing  for much too long. While the tide is changing and more women are being elevated into leadership roles, there is still much work to do. As of July 2013, there were only 19 female elected presidents and prime ministers in power around the globe.  In the business world, women currently hold only 4.6 percent of Fortune 500 CEO positions and the same percentage of Fortune 1000 CEO positions.   As women continue their upward trajectory in the business world, they have yet to be fully appreciated for the unique qualities and abilities they bring to the workplace.

Like many who grow up with a Hispanic upbringing, I was surrounded by strong-willed, hardworking and purpose-driven women. It is through their leadership that the traditions, values and legacy of our family have been upheld.  My grandmother, mother, wife, and sister-in-law all possess natural leadership skills and they are masters of opportunity management – seamlessly keeping us all in check while running the family household and at the same time supporting our family businesses.  They have taught me that a woman’s instincts and emotional intelligence can be off the chart. They seamlessly manage crisis and change and are turnaround experts – sensing and neutralizing any signs of danger well before it invades our path. It is because of the women in our family that we are well-organized, full of love, spiritually aligned and well-balanced. We are by no means a perfect family, but we are a modern family who embraces traditions even as we adapt to changing times.

It can be difficult for a man to understand how women think, act and innovate unless  he has been closely influenced by  the women in his life.   I’ve learned that women may process things differently and  in their own terms. Fortunately for me, I’ve been influenced by great women who made me appreciate their approach towards leadership. I’ve grown to understand their decision-making processes, the dynamics and subtleties of their personality and style, and other special character qualities that women possess.

The best women leaders I know have circular vision that enables them to be well-rounded people.  For example, they have their finger on the pulse of the culture and can talk to you about the latest pop-culture news – but then easily switch gears to give you their perspective on what is taking place on Wall Street.  Women leaders seeking a chance to be significant see the world through a lens of opportunity; they are especially in search of those opportunities previously unseen (perhaps this is why the women I know enjoy a good treasure hunt).   My experiences have taught me that great women make it a point to teach men about women.

I’ve seen women run the show for years both at home and in the workplace, which has enabled me to recognize behavior patterns and see the value behind their way of doing things.  These women are master multi-taskers and highly collaborative (though not afraid to get territorial to protect their domain).  They enjoy their own space to test themselves and find their own rhythm.  These women leaders are like scientists: many of them want to make new discoveries or solve for problems where others have failed.   The women leaders I’ve been around don’t stop pursuing until the job gets done. This is why I believe they are good collaborative leaders – not afraid of trial and error as long as they continue to build the resource infrastructure around them that gets them closer towards accomplishing their goals.   As one of my women mentors told me, “Without enough of the right resources around me, I will not risk the outcome. I know the resources I need to get the job done right.

I’d rather be patient than foolish.”

The women leaders I know invest in themselves and become knowledge seekers. They are not afraid to ask questions when given a safe platform to express themselves. For example, during my keynote and conference appearances – more often than not – it is the women who ask me the most questions and they are also more inspired to adopt new ideas and ideals.  Though extremely curious, it’s often balanced with a bit of skepticism    – after all, they don’t want to be fooled or taken advantage of.   My experiences have taught me that women leaders need to trust a person before they will endorse what they have to say.   Many just want to know that there is legitimacy behind the opportunity.

As I’ve learned from my women bosses and mentors, they want things to be authentic yet practical. These women leaders enjoy a good challenge – and seek to find meaning and purpose from each circumstance they face and opportunity they are given.  They like to see and understand the connectivity of thoughts and how they work or why they don’t.   They want all the facts and figures before making important decisions.

Competitiveness amongst themselves may really be about looking for validation — an identity that matters and a voice that is heard.  Successful women leaders don’t rely on favors; they earn respect   and truly believe they can influence their own advancement by serving others.  Consummate team players, they also seek to prove their value and self-worth by exceeding performance expectations..  Looking for respect more than recognition, the most successful women leaders don’t seek to become the star of the show — but they enable others to create a great show.  In other words,   being in the spotlight is not what drives them – but rather it’s the ability to influence positive outcomes with maximum impact.

One thing is certain: these women leaders understand survival, renewal and reinvention. They have grit and are not afraid to fight for what they believe in or an opportunity to achieve something of significance. They believe in what they stand for, but that doesn’t mean they won’t put their ideas and ideals to the test.  For them, doing more with less is simply a matter of knowing how to strategically activate those around them.

While women leaders have their productivity secrets, it’s not secret where they come from:  the leadership traits that women leaders naturally possess and – based on my personal and professional experiences  – are the most undervalued.

1.  Opportunity-driven
When confronted with a challenge, the women I know look for the opportunity within. They see the glass as half-full rather than half-empty.  They push the boundaries and, when faced with adverse circumstances, they learn all they can from it.  Optimism is their mindset because they see opportunity in everything.

Estée Lauder, the child of Hungarian immigrant parents, was quite the opportunist in the cosmetics industry. During the postwar consumer boom, women wanted to start sampling cosmetic products before buying them. Lauder noticed and responded to this shifting dynamic by pioneering two marketing techniques that are commonly used today: the free gift and the gift-with-purchase. It’s exactly this type of inventiveness that other women use to pursue the opportunities in front of them.

2.  Strategic
Women see what often times others don’t see.  As one of my women mentors told me, “A woman’s lens of skepticism oftentimes forces them to see well beyond the most obvious details before them.  They enjoy stretching their perspective to broaden their observations.  Many women are not hesitant to peel the onion in order to get to the root of the matter.”

At times they “play the part” to test the intentions of others and to assure that they are solidly grounded and reliable. Successful women leaders know how to play the game when they have to – and can anticipate the unexpected.    They know what cards to play and keenly calculate the timing of each move they make.

I wouldn’t be surprised to learn a woman leader made the word “organic” a business term.   I learned that women who enjoy the ebbs and flows of business activity also know that the best things are accomplished when they are done naturally – and unforced.  When things are happening organically, this means that they are functioning within a natural rhythm and speed – that is safer and risk adverse.

This is not to say that women are uncomfortable with risk – in fact,  they will often tackle risk head-on in order to get to the root cause of  a problem and to solve for it (they value time and money).  Women leaders who don’t allow their egos to stand in the way of good business are in the mindset of getting things done for the betterment of a healthier whole.

3.  Passionate 
While women in general were historically viewed and stereotyped as emotional leaders by men, I believe they are just passionate explorers in pursuit of excellence.   When women leaders are not satisfied with the status quo, they will want to make things better.  These women leaders get things done and avoid procrastination. As another one of my women mentors said, “They enjoy order and stability and a genuine sense of control. Many women have learned not to depend upon others for their advancement and thus have a tendency to be too independent.  A woman’s independent nature is her way of finding her focus and dialing up her pursuits.”

When these women leaders are locked into what they are searching for – move out of the way.  Their passionate pursuits allow them to become potent pioneers of new possibilities.  No wonder minority women represent the largest growing segment of entrepreneurs.

 According to a report by the Center for Women’s Business Research, U.S. Hispanic and African American women entrepreneurs  grew at rates of 133.3% and 191.4% respectively from 1997 to 2007.

4.  Entrepreneurial 

Entrepreneurship is just a way of life for many women.   They can be extremely resourceful, connect the dots of opportunity and become expert in developing the relationships they need to get the job done.   Many women leaders also see through an entrepreneurial lens to best enable the opportunities before them.    They know that to create and sustain momentum requires 100% focus on the objective   – and so they don’t enjoy being disrupted by unnecessary noise and distractions.

As one of my former women bosses told me, “Women can play into the politics of the workplace, and do so if it means adding value to the momentum they are attempting to create.”

Many women leaders find excitement and motivation by being extremely creative and resourceful when completing tasks and other duties and responsibilities –. They avoid falling too far behind on projects – knowing that if they do it will disrupt their focus and momentum.   That is why I learned never to disrupt a woman’s focus and concentration if I can avoid it.

My former female boss continued by saying, “This is why women like control.  Not necessarily to be in charge, but to not lose the rhythm or compromise the momentum they need to accomplish their goals.”

5.  Purposeful and Meaningful

I have found that many women leaders enjoy inspiring others to achieve. They know what it’s like to be the underdog and work hard not to disappoint themselves and others.  Women leaders in particular often have high standards and their attention to detail makes it difficult for others to cut corners or abuse any special privileges.

Women leaders with a nurturing nature are good listeners and excellent networkers/connecters. They enjoy creating ecosystems and support a collaborative leadership style that melds the thinking and ideas of others; this is what multiplies the size of an opportunity and/or its speed in execution in order to create a larger sphere of influence and overall impact.  Women who don’t have to be right all the time make good consensus builders and will more likely enjoy participating in a team environment.

6.  Traditions and Family
Whether at home or at work, women are often the glue that keeps things together and that is why they represent great leadership for America’s future.  When they sense growing tensions that can lead to potential problems or inefficiencies, the most successful women leaders enjoy taking charge before circumstances force their hand.   Women are usually the ones to secure the foundational roots of the family and to protect family and cultural traditions from wavering. They provide the leadership within the home and in the workplace to assure that legacies remain strong by being fed with the right nutrients and ingredients.

The most successful women leaders are big believers in team building and the enforcement of mission, goals and values to assure that everyone is on the same page with like intentions.  This secures a sense of continuity making it easier for everyone to have each other’s backs.  No wonder women are assuming more management and leadership roles in family owned businesses.

To the great women in my personal and professional life, thank you for the opportunity to be inspired and mentored by your leadership (you know who you are).  I’ve read many things about women in the workplace and their lack of advancement into senior executive roles and in the boardroom.  Rarely have I read something from a man who has been inspired and influenced by the wisdom of a woman’s leadership.  Hopefully this perspective helps awaken more of us to the opportunity of learning about leadership from the women in our lives, whether in the home or at work.

Glenn Llopis, 

Family businesses a ‘good news story’ in the Canadian economy

85 per cent of Canadian family businesses projecting growth over next five years, according to PwC survey.

TORONTO—Family-owned and operated businesses are a “good news story” in the Canadian economy but face challenges attracting and retaining talent, according to a new report.

The 2014 PwC Global Family Business Survey found that family businesses in Canada are growing.

About 67 per cent of respondents achieved top line growth in the last year, and an even larger portion—85 per cent, according to PwC—are projecting growth over the next five years.

The firm said strength and confidence in family business in Canada “is likely a result of expected continued economic recovery, as well as the ability private family companies have to remain agile amidst economic uncertainty.”

“Family businesses are making the most of the economic recovery and are pushing forward in their plans for growth,” Saul Plener, national private company services leader with PwC Canada, said in a statement.

“While they remain cautious about investing in international markets, they continue to have a strong sense of confidence and optimism towards the road ahead.”

However confident family businesses are, they continue to face challenges when it comes to attracting and retaining talent, according to the survey.

Some 71 per cent of business surveyed cited the talent gap as their top concern over the next five years.

“Family-owned companies tend to require sophisticated leadership and a diversity of skill sets, but aren’t always able to provide market-competitive compensation,” the firm said. “These challenges highlight a need for family businesses to professionalize.”

Despite the need, the PwC survey found it is on the radar for only 21 per cent of Canadian respondents over the next five years.

“Furthermore, there is a significant demographic shift occurring in Canada—baby boomers are retiring, creating a skills gap in the workforce and putting a squeeze on family businesses,” PwC said.

“This is particularly challenging for the 27 per cent of respondents looking to sell or float their companies—the aging workforce will create a highly competitive buyer’s market between 2018 and 2025, meaning that succession planning will be particularly crucial for those seeking to exit.”

Despite this, the firm said family businesses bring “considerable benefit” Canada’s workforce and economy that extends beyond compensation and demographics.

“For example, 80 per cent of Canadian respondents state that they measure success beyond just profitability, and that they are committed to retaining staff even in bad times,” PwC said. “They agree their culture and values are stronger (75 per cent), they are more entrepreneurial (71 per cent), make decisions faster (73 per cent) and take a longer term approach to setting strategy (65 per cent) than non-family businesses.”

“Family businesses add a dynamic, robust and often complex layer to the general business community, and their operational models often reflect the agility needed to survive in today’s environment,” said Sharon Duguid, director of PwC’s Center for Entrepreneurs and Family Enterprise.

“Their sense of responsibility and community spirit lends itself well to a harsh and competitive market, and if they can invest in capacity and capability, bringing in the right people with the right skills, they’ll continue to be a key pillar of the Canadian economy.”

Three ways for family businesses to stay entrepreneurial

The owners of Book City, one of Toronto's independent book chains, announced recently that they would be closing the doors to their flagship store after 40 years. As a final salute, CBC Metro Morning interviewed the store’s third generation owner, who shared the heaviness of that heart wrenching decision.

The reporter reminisced about how stores serve as land marks in our neighbourhoods and Book City was no exception: its iconic yellow logo brand was appreciated by Torontonians.

While in recent years customers have migrated to online book stores, the question remains: is there anything the family business could have done differently? Could succession planning have helped preserve the company’s legacy?

“For the most part it is easier, and generally more fulfilling to work ‘in’ your business than ‘on’ your business, so entrepreneurial families continue to dwell on the day-to-day tasks that come from operating a business,” says David Simpson, founder of the Ivey Business Families Centre. “Planning for future transitions, while always somewhere on the planning horizon, never seem to get done.”

Many first generation - let alone third generation (3G) - business owners have gone the same route. They stick to a dated business model that served them well in the past; after all, change is risky.

Those who step into the family business, may become trapped by a significant and public brand created and developed by generation one and two. They put grandpa on a pedestal, his oil painting is in the boardroom and refuse to refresh the model.

Mr. Simpson agrees: “There may also be a tendency for second generation (or third) to have guilty feelings if the challenging questions that come with considering transitions – including potentially selling a business. This comes in conflict with the feelings of protecting a legacy that was provided by an earlier generation.”

Yet, the entrepreneurial first generation would probably be the first to say “sell the business.”
“I tend to remind this generation that the greatest legacy is to remain as entrepreneurial as the founders, and ensure a strong family tradition that includes knowing when a business doesn’t fit the times,” adds Mr. Simpson.

To help business families remain entrepreneurial, he offers the following advice:

1. Once a year, ask the hard question: “If we were starting out today, would this be the business our family chooses to be in?” This forces a family to remind themselves that a business takes time, energy, talent, capital and most of all relevance. Take out the emotional attachment. If your family was in the buggy whip business as cars were arriving on roads, there would be little point in continuing as is. This question provides the nudge to reinvent the business, perhaps into a travel accessories and suitcase retailer.

2. If we conclude that this is a good business to be in, ask yourself this: “Are we the right ones to manage or steward the business further?” To survive in the global market, growth is vitally necessary. Expansion capital is available for companies over a revenue size threshold, and a family business can bring on board a professional CEO capable of managing a larger enterprise. There is no need to remain stagnant. The skill-fit question forces families to think like owners, and be less concerned about viewing the business as a
source of family jobs. The best leadership of a business will change over time as requirements change, and families need to look to what serves the business best.

3. Let outsiders inside your tent. Mr. Simpson says outside eyes are critical: “Overall, remember that families often view their businesses as their babies, and human parents tend to be ill-equipped to value their babies. We either overestimate the ‘uniqueness’ of our child or are often too hard on our kids and overlook their hidden value as a result.” Yet, so few family businesses take on an advisory board because they believe no one will understand their business as well as they do. Ensure that the business has an outside advisory board, or an active fiduciary board or at least a mentor with skills in the particular field. Engaging an advisory firm early and sharing your hopes and dreams will also ensure that a competent firm with transition experience can give you the hard reality of the day which helps families make decisions.

Jacoline Loewen is a director at Crosbie & Company, which focuses on succession advice for medium-sized enterprises, family businesses and closely held private companies. Crosbie develops customized strategies, particularly in relation to sale of companies, M&A, financing and corporate strategy matters. Ms. Loewen is also the author of Money Magnet: How to Attract Investors to Your Business.

How To Unlock Great Ideas

Many companies blow off the best ideas of their most creative employees–leaving innovators no choice but to leave if they want to act on their brainstorms. This is clearly a source of huge frustration, as some of you expressed in your comments the last time I posted on this topic in “What To Do When Your Boss Won’t Support Your Great Ideas.”

But if you’re an inventive type, maybe there’s hope that you don’t have to live with your frustrations indefinitely. Serial entrepreneur Ken Tencer, co-author of the new book Cause a Disturbance, believes that it’s very possible for companies to change and embrace innovation. He’s the CEO of Spyder Works, a branding and innovation firm with offices in New York and in a suburb of Ontario, Canada. He previously founded Nettlewoods, a private label of bath and body products sold through major chains, such as Walmart. He is also chair of the Unleashing Innovation Summit, to be held in New York City on March 26 and 27. Here’s an edited transcript of a conversation we had yesterday about how to bring more innovation to today’s workplaces and to innovate more on your own.

Many people say it is hard to get their company to pay attention to their great ideas. How can companies become more receptive?
Tencer: Certain companies really embrace the notion that `We have a lot of incredible people working for us, they’re very close to our customers, and we should actually be engaging these people.’ If  you look at a company like LinkedIn LNKD -4.55%, they enable employees to come up with new idea, put a pitch together and if it comes through, to bring the idea to market. At Google GOOG -0.37%, 20% of your time can be spent on projects other than your main job. I don’t know why more companies aren’t gravitating toward that whole notion of empowering employees, of putting in place mechanisms where they allow people to present ideas and push them forward. It engages and motivates them and helps attract the best talent to your company, rather than frustrating them, turning them off or pushing them out.

Is it possible that big companies don’t see an upside to internal innovation? Many seem to want their employees to focus the products or services they already sell. When they want to add new products and services, they go out and acquire small, innovative companies, instead of doing a lot of R&D internally.
Tencer: If they don’t see an upside to internal innovation, I think it’s incredible short-sightedness. Your brand is about building relationships with your customers. Innovation is about keeping those relationships fresh. It’s about introducing “new, improved and better.” The people closest to your relationships are your employees. They’re on the front lines of  speaking to or working with customers. To me, these are where the most relevant ideas are coming from or should be coming from. I’m not saying acquisitions or open source innovation aren’t important. They are, but why–if you have  5 or 50,000 or 100,000 people–would you ignore their ideas?

Some companies want their employees to stay focused, but I am not saying innovation should be 100% of their day.  I’m talking about adding a glorified suggestion box. Let’s get those great suggestions back to corporate management and the R&D team. I think the tide is turning. I hope it’s turning. I think the great companies are seeing that listening to your employees is powerfully motivating and engaging.

What’s holding the other, not-so-innovative companies back? 
Tencer: It’s an incredible mind shift for most companies to move from viewing employees as the doers and executors to the idea generators. I think companies are afraid it will take them out of the stride of their daily work. The change is hard. Instead of being managers, we’re being motivator and coaches.

I think managers can be. [Creativity expert] Ken Robinson talks about  the notion that creativity is taken away from us and replaced by very linear thinking through our education processes in his TED talks. In large companies, just like you have an open source innovation platform, you need an internal platform through which employees propose or present their ideas, so it doesn’t become every manager’s responsibility to be brilliant at this. If you have the processes in place, you’ll see that tide changing. I do believe that, given permission, managers will start to shift.

What if you’re an employee in a company that isn’t as receptive to innovation as LinkedIn–and you’re innovative? What can you do to put your ideas into action? 
I think if top management  really doesn’t appreciate it–I hate to say it–but in many cases an innovative employee will leave. If you’re one voice in 50,000 I don’t know that you’re going to have incredible success at it. But I think that with this new generation of employees, recognition and engagement are so high up on the scale of what motivates people that you won’t be the one voice in the company anymore. Hopefully a lot of companies will recognize that they don’t want to lose their employees.

What can someone who is, say, 47 years old, learn from Millennials about innovation? 
They’ve grown up and see sharing as just a normal part of their life. They’re sharing their ideas, thoughts on what they’re doing and social activism through social media. They are habitual sharers. What we need to learn is it’s okay to share our ideas and to build on one another’s idea. For the 47-year-old, the whole notion of the wiki or open source programming or innovation is a little more challenging. We were taught to keep our head down, keep things to ourselves and go in a linear fashion. To be fair to our generation, we didn’t have social media growing up. We can adapt to a new reality. We do it very well through LinkedIn. We share a lot of ideas through LinkedIn groups and other platforms. We can do that internally, as well.

Do you see any relationship between Millennials’ attitudes about consumerism and their opportunities to create? Many started their careers during the Great Recession.
We were brought up with home ownership and the cars in the garage as status symbols. To them, status symbols relate to whether something goes to sharing: Does it go to lowering emissions, saving the planet, to working together for a better cause? It’s an extension of that whole interconnectedness. To me, they’re almost better equipped to bootstrap a company. They don’t have that singular focus on the acquisition of material goods.

So how do midlife professionals who have mortgage to pay take a cue from a younger, very entrepreneurial generation and get back in touch with the innovative side of themselves? 
In my workshops, I don’t start out talking about innovation and being creative. I ask people to talk about what cool things around them they like. Someone might say: “Standing on a corner and getting a text message that your cab is one mile away, and your cab is number 118.” Here’s another example I like: At Disney theme parks, if a child drops an ice cream cone, an attendant will run up and take them to the ice cream vendor, who will put a new ice cream upside down in a cup, with a smiley face on it. These are examples of brilliant process innovation. It’s about making your customer happy in a simple but very different way. It doesn’t have to cost a lot of money. Once people start realizing that innovation is that simple, it frees them up to be creative.

The Most Undervalued Leadership Traits Of Women

Glenn Llopis,  

It’s impossible to respect, value and admire great leadership if you can’t identify what makes a leader great.  Because of this, the identity crisis I have written about that exists in today’s workplace is something that women leaders in particular have been facing  for much too long. While the tide is changing and more women are being elevated into leadership roles, there is still much work to do. As of July 2013, there were only 19 female elected presidents and prime ministers in power around the globe.  In the business world, women currently hold only 4.6 percent of Fortune 500 CEO positions and the same percentage of Fortune 1000 CEO positions.   As women continue their upward trajectory in the business world, they have yet to be fully appreciated for the unique qualities and abilities they bring to the workplace.

Like many who grow up with a Hispanic upbringing, I was surrounded by strong-willed, hardworking and purpose-driven women. It is through their leadership that the traditions, values and legacy of our family have been upheld.  My grandmother, mother, wife, and sister-in-law all possess natural leadership skills and they are masters of opportunity management – seamlessly keeping us all in check while running the family household and at the same time supporting our family businesses.  They have taught me that a woman’s instincts and emotional intelligence can be off the chart. They seamlessly manage crisis and change and are turnaround experts – sensing and neutralizing any signs of danger well before it invades our path. It is because of the women in our family that we are well-organized, full of love, spiritually aligned and well-balanced. We are by no means a perfect family, but we are a modern family who embraces traditions even as we adapt to changing times.

It can be difficult for a man to understand how women think, act and innovate unless  he has been closely influenced by  the women in his life.   I’ve learned that women may process things differently and  in their own terms. Fortunately for me, I’ve been influenced by great women who made me appreciate their approach towards leadership. I’ve grown to understand their decision-making processes, the dynamics and subtleties of their personality and style, and other special character qualities that women possess.

The best women leaders I know have circular vision that enables them to be well-rounded people.  For example, they have their finger on the pulse of the culture and can talk to you about the latest pop-culture news – but then easily switch gears to give you their perspective on what is taking place on Wall Street.  Women leaders seeking a chance to be significant see the world through a lens of opportunity; they are especially in search of those opportunities previously unseen (perhaps this is why the women I know enjoy a good treasure hunt).   My experiences have taught me that great women make it a point to teach men about women.

I’ve seen women run the show for years both at home and in the workplace, which has enabled me to recognize behavior patterns and see the value behind their way of doing things.  These women are master multi-taskers and highly collaborative (though not afraid to get territorial to protect their domain).  They enjoy their own space to test themselves and find their own rhythm.  These women leaders are like scientists: many of them want to make new discoveries or solve for problems where others have failed.   The women leaders I’ve been around don’t stop pursuing until the job gets done. This is why I believe they are good collaborative leaders – not afraid of trial and error as long as they continue to build the resource infrastructure around them that gets them closer towards accomplishing their goals.   As one of my women mentors told me, “Without enough of the right resources around me, I will not risk the outcome. I know the resources I need to get the job done right.

I’d rather be patient than foolish.”

The women leaders I know invest in themselves and become knowledge seekers. They are not afraid to ask questions when given a safe platform to express themselves. For example, during my keynote and conference appearances – more often than not – it is the women who ask me the most questions and they are also more inspired to adopt new ideas and ideals.  Though extremely curious, it’s often balanced with a bit of skepticism    – after all, they don’t want to be fooled or taken advantage of.   My experiences have taught me that women leaders need to trust a person before they will endorse what they have to say.   Many just want to know that there is legitimacy behind the opportunity.

As I’ve learned from my women bosses and mentors, they want things to be authentic yet practical. These women leaders enjoy a good challenge – and seek to find meaning and purpose from each circumstance they face and opportunity they are given.  They like to see and understand the connectivity of thoughts and how they work or why they don’t.   They want all the facts and figures before making important decisions.

Competitiveness amongst themselves may really be about looking for validation — an identity that matters and a voice that is heard.  Successful women leaders don’t rely on favors; they earn respect   and truly believe they can influence their own advancement by serving others.  Consummate team players, they also seek to prove their value and self-worth by exceeding performance expectations..  Looking for respect more than recognition, the most successful women leaders don’t seek to become the star of the show — but they enable others to create a great show.  In other words,   being in the spotlight is not what drives them – but rather it’s the ability to influence positive outcomes with maximum impact.

One thing is certain: these women leaders understand survival, renewal and reinvention. They have grit and are not afraid to fight for what they believe in or an opportunity to achieve something of significance. They believe in what they stand for, but that doesn’t mean they won’t put their ideas and ideals to the test.  For them, doing more with less is simply a matter of knowing how to strategically activate those around them.

While women leaders have their productivity secrets, it’s not secret where they come from:  the leadership traits that women leaders naturally possess and – based on my personal and professional experiences  – are the most undervalued.

1.  Opportunity-driven
When confronted with a challenge, the women I know look for the opportunity within. They see the glass as half-full rather than half-empty.  They push the boundaries and, when faced with adverse circumstances, they learn all they can from it.  Optimism is their mindset because they see opportunity in everything.

Estée Lauder, the child of Hungarian immigrant parents, was quite the opportunist in the cosmetics industry. During the postwar consumer boom, women wanted to start sampling cosmetic products before buying them. Lauder noticed and responded to this shifting dynamic by pioneering two marketing techniques that are commonly used today: the free gift and the gift-with-purchase. It’s exactly this type of inventiveness that other women use to pursue the opportunities in front of them.

2.  Strategic
Women see what often times others don’t see.  As one of my women mentors told me, “A woman’s lens of skepticism oftentimes forces them to see well beyond the most obvious details before them.  They enjoy stretching their perspective to broaden their observations.  Many women are not hesitant to peel the onion in order to get to the root of the matter.”

At times they “play the part” to test the intentions of others and to assure that they are solidly grounded and reliable. Successful women leaders know how to play the game when they have to – and can anticipate the unexpected.    They know what cards to play and keenly calculate the timing of each move they make.

I wouldn’t be surprised to learn a woman leader made the word “organic” a business term.   I learned that women who enjoy the ebbs and flows of business activity also know that the best things are accomplished when they are done naturally – and unforced.  When things are happening organically, this means that they are functioning within a natural rhythm and speed – that is safer and risk adverse.

This is not to say that women are uncomfortable with risk – in fact,  they will often tackle risk head-on in order to get to the root cause of  a problem and to solve for it (they value time and money).  Women leaders who don’t allow their egos to stand in the way of good business are in the mindset of getting things done for the betterment of a healthier whole.

3.  Passionate 
While women in general were historically viewed and stereotyped as emotional leaders by men, I believe they are just passionate explorers in pursuit of excellence.   When women leaders are not satisfied with the status quo, they will want to make things better.  These women leaders get things done and avoid procrastination. As another one of my women mentors said, “They enjoy order and stability and a genuine sense of control. Many women have learned not to depend upon others for their advancement and thus have a tendency to be too independent.  A woman’s independent nature is her way of finding her focus and dialing up her pursuits.”

When these women leaders are locked into what they are searching for – move out of the way.  Their passionate pursuits allow them to become potent pioneers of new possibilities.  No wonder minority women represent the largest growing segment of entrepreneurs.

 According to a report by the Center for Women’s Business Research, U.S. Hispanic and African American women entrepreneurs  grew at rates of 133.3% and 191.4% respectively from 1997 to 2007.

4.  Entrepreneurial 

Entrepreneurship is just a way of life for many women.   They can be extremely resourceful, connect the dots of opportunity and become expert in developing the relationships they need to get the job done.   Many women leaders also see through an entrepreneurial lens to best enable the opportunities before them.    They know that to create and sustain momentum requires 100% focus on the objective   – and so they don’t enjoy being disrupted by unnecessary noise and distractions.

As one of my former women bosses told me, “Women can play into the politics of the workplace, and do so if it means adding value to the momentum they are attempting to create.”

Many women leaders find excitement and motivation by being extremely creative and resourceful when completing tasks and other duties and responsibilities –. They avoid falling too far behind on projects – knowing that if they do it will disrupt their focus and momentum.   That is why I learned never to disrupt a woman’s focus and concentration if I can avoid it.

My former female boss continued by saying, “This is why women like control.  Not necessarily to be in charge, but to not lose the rhythm or compromise the momentum they need to accomplish their goals.”

5.  Purposeful and Meaningful

I have found that many women leaders enjoy inspiring others to achieve. They know what it’s like to be the underdog and work hard not to disappoint themselves and others.  Women leaders in particular often have high standards and their attention to detail makes it difficult for others to cut corners or abuse any special privileges.

Women leaders with a nurturing nature are good listeners and excellent networkers/connecters. They enjoy creating ecosystems and support a collaborative leadership style that melds the thinking and ideas of others; this is what multiplies the size of an opportunity and/or its speed in execution in order to create a larger sphere of influence and overall impact.  Women who don’t have to be right all the time make good consensus builders and will more likely enjoy participating in a team environment.

6.  Traditions and Family
Whether at home or at work, women are often the glue that keeps things together and that is why they represent great leadership for America’s future.  When they sense growing tensions that can lead to potential problems or inefficiencies, the most successful women leaders enjoy taking charge before circumstances force their hand.   Women are usually the ones to secure the foundational roots of the family and to protect family and cultural traditions from wavering. They provide the leadership within the home and in the workplace to assure that legacies remain strong by being fed with the right nutrients and ingredients.

The most successful women leaders are big believers in team building and the enforcement of mission, goals and values to assure that everyone is on the same page with like intentions.  This secures a sense of continuity making it easier for everyone to have each other’s backs.  No wonder women are assuming more management and leadership roles in family owned businesses.

To the great women in my personal and professional life, thank you for the opportunity to be inspired and mentored by your leadership (you know who you are).  I’ve read many things about women in the workplace and their lack of advancement into senior executive roles and in the boardroom.  Rarely have I read something from a man who has been inspired and influenced by the wisdom of a woman’s leadership.  Hopefully this perspective helps awaken more of us to the opportunity of learning about leadership from the women in our lives, whether in the home or at work.

Three ways for family businesses to stay entrepreneurial

Jacoline Loewen

Special to The Globe and Mail

The owners of Book City, one of Toronto's independent book chains, announced recently that they would be closing the doors to their flagship store after 40 years. As a final salute, CBC Metro Morning interviewed the store’s third generation owner, who shared the heaviness of that heart wrenching decision.

The reporter reminisced about how stores serve as land marks in our neighbourhoods and Book City was no exception: its iconic yellow logo brand was appreciated by Torontonians.

While in recent years customers have migrated to online book stores, the question remains: is there anything the family business could have done differently? Could succession planning have helped preserve the company’s legacy?

“For the most part it is easier, and generally more fulfilling to work ‘in’ your business than ‘on’ your business, so entrepreneurial families continue to dwell on the day-to-day tasks that come from operating a business,” says David Simpson, founder of the Ivey Business Families Centre. “Planning for future transitions, while always somewhere on the planning horizon, never seem to get done."

Many first generation - let alone third generation (3G) - business owners have gone the same route. They stick to a dated business model that served them well in the past; after all, change is risky.

Those who step into the family business, may become trapped by a significant and public brand created and developed by generation one and two. They put grandpa on a pedestal, his oil painting is in the boardroom and refuse to refresh the model.

Mr. Simpson agrees: "There may also be a tendency for second generation (or third) to have guilty feelings if the challenging questions that come with considering transitions – including potentially selling a business. This comes in conflict with the feelings of protecting a legacy that was provided by an earlier generation."

Yet, the entrepreneurial first generation would probably be the first to say "sell the business."

"I tend to remind this generation that the greatest legacy is to remain as entrepreneurial as the founders, and ensure a strong family tradition that includes knowing when a business doesn’t fit the times,” adds Mr. Simpson.

To help business families remain entrepreneurial, he offers the following advice:

1. Once a year, ask the hard question: “If we were starting out today, would this be the business our family chooses to be in?” This forces a family to remind themselves that a business takes time, energy, talent, capital and most of all relevance. Take out the emotional attachment.

If your family was in the buggy whip business as cars were arriving on roads, there would be little point in continuing as is. This question provides the nudge to reinvent the business, perhaps into a travel accessories and suitcase retailer.

2. If we conclude that this is a good business to be in, ask yourself this: “Are we the right ones to manage or steward the business further?” To survive in the global market, growth is vitally necessary. Expansion capital is available for companies over a revenue size threshold, and a family business can bring on board a professional CEO capable of managing a larger enterprise. There is no need to remain stagnant. The skill-fit question forces families to think like owners, and be less concerned about viewing the business as a source of family jobs. The best leadership of a business will change over time as requirements change, and families need to look to what serves the business best.

3. Let outsiders inside your tent. Mr. Simpson says outside eyes are critical: “Overall, remember that families often view their businesses as their babies, and human parents tend to be ill-equipped to value their babies. We either overestimate the ‘uniqueness’ of our child or are often too hard on our kids and overlook their hidden value as a result.”

(took out sentence and moved up as these are David’s words). Yet, so few family businesses take on an advisory board because they believe no one will understand their business as well as they do. Ensure that the business has an outside advisory board, or an active fiduciary board or at least a mentor with skills in the particular field. Engaging an advisory firm early and sharing your hopes and dreams will also ensure that a competent firm with transition experience can give you the hard reality of the day which helps families make decisions.

Jacoline Loewen is a director at Crosbie & Company, which focuses on succession advice for medium-sized enterprises, family businesses and closely held private companies. Crosbie develops customized strategies, particularly in relation to sale of companies, M&A, financing and corporate strategy matters. Ms. Loewen is also the author of Money Magnet: How to Attract Investors to Your Business. You can follow her on Twitter @jacolineloewen and @crosbiecompany.

ELEVATING GTA’S BUSINESS LEADERS’ COMMUNITY

"What do you want to be remembered for? It is a question that induces you to renew yourself, because it pushes you to see yourself as a different person - the person you can become" - Peter Drucker

ELEVATING GTA’S BUSINESS LEADERS’ COMMUNITY

DICK PETERS TO LAUNCH GTA’S NEWEST TEC EXECUTIVE GROUP

TORONTO, ONTARIO (January 16, 2014) – Seasoned Toronto business executive Richard (Dick) Peters (http://ca.linkedin.com/in/richardpeters2/)– President and founder of consulting firm Leader Logic Ltd. – will launch an exclusive learning-oriented peer group for growth-focused business leaders in early 2014.

As a group Chair for The Executive Committee (TEC Canada), Peters will mentor and facilitate the personal and professional growth of a select group of business leaders.

Experience in a wide variety of senior corporate leadership roles, as well as an entrepreneurial and consulting background, have given Dick Peters a reputation for team-building, creative risk-taking and a capacity for making the challenging decisions associated with disruptive change. These traits dovetail perfectly with his new role of TEC Chair.

“My role within TEC is to create a community where leaders flourish,” Peters explains, “a community in which leaders increase their personal effectiveness through fresh thinking and challenging conversations with their peers.” He continues, “A TEC group is not a social club. Members join to enhance their businesses and their personal performance. This new group will comprise non-competitive CEOs, Presidents, business owners and individuals who run companies. Members will act as a private board of trusted advisors with no agendas other than helping each other share best practices, solve management issues, make better decisions and improve leadership skills. Research shows that TEC members outperform non-members by a wide margin.”

Dean Chudleigh, President, Chudleigh’s Limited, a TEC member since 2004, shared, “I attribute a great deal of my company’s success to our membership in TEC. Every month I leave with solid ideas that I can put into action right away. I can’t imagine not being a member.”

The TEC community in Ontario is strong with 284 members across 24 different groups, yet TEC Canada President, Catherine Osler confirms there is still room for growth. “The GTA has a vibrant and healthy business community full of leaders eager to learn and grow. With the addition of Dick Peters’ new group, TEC is in an excellent position to support further growth and development of leaders in the region.”

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For more information, on becoming a member of this new TEC Group please contact:


Dick Peters                                                       Tammy Schuiling
Chair TEC-Canada                                              Marketing Communications Manager, 
RPeters@tec-canada.com                                TEC Canada(416) 471-1956                                                    tschuiling@tec-canada.com
                                                                         (403) 800-5519

About TEC Canada:
TEC Canada is the pre-eminent member-based leadership development organization in Canada. Our membership base is comprised of nearly 1000 top business leaders from across Canada, representing more than $54 billion dollars in annual revenue and over 105,000 employees. Through our affiliate, Vistage International, TEC is part of a powerful global network of over 18,000 members which provides members unparalleled access to global business resources and the intellectual capital of like-minded passionate and experienced business leaders from around the world. For more information visit www.tec-canada.com.