The History of Opportunity

Amazing Opportunity

“Are they ready to buy?”

“Are they ready to buy?” Have you heard this before? “We talk and talk but nothing happens. They won't get off the stick and buy!” When people are ready to buy, it is a delightful experience. They reach out toward you. They relish the interaction. But they won't buy your product, your service, or your idea if the four conditions have not been met. 

Condition 1: Is there a problem or opportunity? Ask the person questions such as: “What is this costing you right now?” “If you don't fix this problem, what will the consequences be?” “What do you think this opportunity is worth?” “Is this one of your highest priorities?”

Condition 2: Does the person “own” the problem? Ask them questions such as: “Who owns this problem?” “Are you responsible for fixing this?” “Who would authorize an expenditure to address this?” “Who needs to be involved in a solution to this issue?”

Condition 3: Does the buyer have a healthy dissatisfaction with the current offering or the rate of improvement? Ask them: “Is this a minor irritant or something you're truly fed up with?” “What would you say is missing?” “Why do you feel that now is the time to put extra resources against this?” “How effective have your own efforts been to address this?”

Condition 4: Does the buyer trust you and believe you're the best alternative they have? Ask questions such as: “What other solutions are you looking at?” “How do you feel about our capabilities in this area?” “What concerns do you have about us or our approach?”

Sobel, Andrew; Panas, Jerold (2012-01-05). Power Questions: Build Relationships, Win New Business, and Influence Others (p. 22). Wiley. Kindle Edition.

Turn Your Next Interruption into an Opportunity

Modern life, particularly work life, has become increasingly hectic. There are relentless demands from meetings, emails, text messages, questions to answer, problems to solve, fires to put out. It can begin to feel like there is never any time to get “real work” done.   If you feel overwhelmed by endless interruptions at work, you are not alone.

One of the most powerful lessons I have learned in my over thirty five years of leadership experience is that these thousands of little interruptions aren’t keeping you from the work, they are the work. When you look at it this way, a whole world of opportunities opens up. Think about it. Every single interaction is rife with the potential to become the high point or the low point in someone’s day. Every “interruption” offers an opportunity to lead impactfully, to set expectations, bring clarity to an issue, or infuse a problem with energy and insight. To reframe these moments in an empowering way, I call them “touchpoints.”  If we choose with purpose to see these moments not as distractions from our work, but as the work, then we can begin to lead more meaningfully in each and every moment.

So, how do we do this? How do we begin to change our approach towards these interruptions? Where do we start? If we’re to treat each interaction as spring-loaded with possibilities, then we must prepare to engage within these moments in the most effective way possible. One way to train ourselves to do this is to identify the key components in each exchange. It is helpful to consider the three variables of every touchpoint.

Is the issue itself something important, such as a question, a problem, or decision that affects the performance of individuals, teams, or the whole organization? Remember, importance is in the eyes of the beholder, so it is critical that one be alert to the perspectives of everyone in the interaction. This could be how to address an employee complaint, replace a key team member, or how to make a project come to fruition in the face of budget cuts. In each interaction it is necessary to assess if the issue is “yours,” “theirs,” or “ours.”

David, a former plant manager for P&G, has a visceral appreciation for the importance of this component. During his tenure, he made it a habit to walk through his plant every single day with the goal of addressing 10 of his own to-dos. David would carry his list of 10 pressing issues on a slip of paper as he roamed throughout the plant. They could range from getting an update on a safety issue to spreading the news about an award the company had won. Although he would embark on his walk with just these 10 items in mind, something wonderful happened again and again. David was interrupted. People would notice him walking the premises and take the opportunity to raise their own ideas, problems, and questions. Rather than avoiding these interactions, David would embrace each and every one. He would listen carefully to swiftly assess who owned the issue, consider all the other people who might be involved, and help to bring clarity and energy to resolve each new concern he encountered. All while simultaneously moving through his own to-do list. Pretty efficient. With this approach, he achieved infinitely more in a single minute than he could sitting isolated at his desk, sending emails for an hour.

Whatever you say or do in a touchpoint may be quickly transmitted exponentially throughout the other people involved – and then relayed again and again. Remember, organizations are living systems in which people are connecting all the time: individuals who report to you directly, colleagues, and anyone with whom you have a straight or dotted reporting line. Consider that every single person with whom you interact is embedded in complex webs of relationships. It is crucial to think about all of the people who will be affected by your words and actions, even those who are not present in a particular interaction.

Who is the leader in the interaction? Who is bringing clarity and focus to the issue? It doesn’t have to be the person with the most seniority or the most impressive title; behavior dictates leadership. You are the leader in the touchpoint if you listen intently, help frame the issue, and spread infectious positive energy exponentially throughout the organization.

To see how these come together and take it a step further, consider the example of George, head of a 500 person R&D department. He was involved in a tense meeting with senior executives. A very specific and narrow point was being heatedly debated. After listening intently, George realized the issue was being framed too narrowly. Although he was not the most senior person in the room, he felt he needed to speak up. In this case, he knew he might have to disrupt the flow of the meeting to make a productive point. He chimed in, initiating a touchpoint. George boldly articulated a broader strategic view that allowed his R&D team more decision making power. It was a lonely view, but he advocated it passionately. Later that day, he ran into a colleague from the legal department who had heard about his argument. He was surprised. How did she know about it? It turns out his team members were proud he had taken a strong stand, felt energized by his advocacy, and had spread the word throughout the organization. His message had spread exponentially and invigorated his people! What if he had stayed silent? An opportunity would have been lost. The role of the leader extends beyond embracing interruptions as opportunities for touchpoints. It also involves initiating touchpoints when your instincts and experience signal to you that a re-framing of the issue is necessary to advance the agenda. When executed correctly, word gets out. This is the power of embodying the role of the Leader in any particular touchpoint.

Using this structure to reflect on the variables in each touchpoint, you can begin to unlock the full potential of each interaction. I encourage you to treat every interruption as a golden opportunity to contribute meaningfully. You’ll become more fully present in your leadership. Each moment will become a chance to inspire a sense of possibilities and stimulate the desire for betterment throughout the entire organization.

Douglas R. Conant

Douglas R. Conant is Non-Executive Chairman of Avon Products; Founder & CEO, ConantLeadership; Founder & Chairman, Kellogg Executive Leadership Institute; Chairman, CECP; Board of Directors, AmerisourceBergen; Former President, CEO & Director, Campbell Soup Company; and NYT Bestselling Author of Touchpoints: Creating Powerful Leadership Connections in the Smallest of Moments. 

7 Ways Leaders Maintain Their Composure in Difficult Times

 

Leaders need to show more composure than ever before in the workplace.   With the change management requirements, increased marketplace demands and intensifying competitive factors that surround us, leaders must have greater poise, agility and patience to minimize the impact of uncertainty.   How leaders respond to these and other growing pressures is an indicator of their leadership preparedness, maturity and acumen.

The composure of a leader is reflected in their attitude, body language and overall presence.   In today’s evolving business environment, it is clear that leadership is not only about elevating the performance, aptitude and development of people – but more so about the ability to make people feel safe and secure.   Employees have grown tired of working in survival mode and thus want to be part of a workplace culture where they can get back to doing their best work without the fear of losing their jobs.

I worked with a colleague that lacked composure and was always in a panic.  Though he had tremendous credentials, he lacked the ability to remain calm and thus often made his employees feel uneasy. His leadership role was just too big for what he was capable of handling.   He was often too dramatic and the smallest of problems  launched him into crisis management mode.   Needless to say, his wasn’t an effective leadership that could deal with real crisis and change.    Because he was unable to reinvent himself and adapt to the unexpected, his tenure was short-lived.problems, opportunity

The 21^st century leader sees adversity through the lens of opportunity.  Rather than panic, a leader with composure takes a step back and begins to connect the dots of opportunity within adverse circumstances.   These types of leaders quickly detect the causes of adversity and solve for them immediately.  They then enable the opportunities previously unseen that could have avoided the adversity to begin with.  Many times crisis results when composure is missing.

The next time a problem arises, ask yourself if you or your leader could have shown a greater sense of composure and avoided the problem from surfacing. 

When leading – especially during times of uncertainty and adversity, crisis and change – you must avoid showing any signs of leadership immaturity or lack of preparedness that will make your employees feel unsafe and insecure. Here are seven ways to maintain leadership composure during the most pressure-packed moments:

1.  Don’t Allow Your Emotions to Get in the Way
Seasoned leaders know not to wear their emotions on their sleeves.   They don’t yell or get overly animated when times get tough.  These types of leaders have such emotional self-control that even their body language does not give them away.

When you allow your emotions to get in the way, employees interpret this as a sign you are not being objective enough and too passionate about the situation at hand.  Strong-willed leaders can maintain their composure and still express concern and care, but not to the point that their emotions become a distraction – or that they can’t responsibly handle the issues at hand.

2.  Don’t Take Things Personally
Leaders shouldn’t take things personally when things don’t go their way.   Business decisions and circumstances don’t always play out logically because office politics and other dynamics factor into the process.    As a leader, remain calm and don’t get defensive or think that you always must justify your thinking and actions.

When you begin to take things personally, it’s difficult to maintain your composure and make those around you believe that you have things under control.  In fact, when leaders take issues too close to heart, they allow the noise and politics around them to suffocate their thinking and decision-making capabilities.

3.  Keep a Positive Mental Attitude
Employees are always watching their leader’s actions, behavior, relationships and overall demeanor.   During the most difficult of times, leaders must maintain a positive mental attitude and manage a narrative that keeps their employees inspired and hopeful.  This is where your leadership experience and resolve  can really shine – by staying strong, smiling often and authentically exhibiting a sense of compassion.

Leaders set the tone for the organization they serve.   A positive attitude can neutralize chaos and allow a leader to course correct through any negativity.    Employees feed off the attitude of these leaders during times of uncertainty.   Keep a positive mental attitude and never stop moving forward.  Stay focused on building positive momentum for the betterment of the healthier whole

4.  Remain Fearless
 When leaders project confidence, they instill it in others.  During uncertain times, leaders must remain fearless and project a cool persona that communicates composure to those they lead.

I’ve been through ups and downs in my career and have learned that when you begin to fear adverse circumstances, you not only put yourself in a position of vulnerability, but it becomes extremely difficult to act rationally and objectively.    When you panic, you mentally freeze and your mind loses focus.

When you begin to get fearful, ask yourself:  What is the worst possible thing that can happen?  If you are objective about it and have the will and confidence to face it, you will eventually realize that the situation is manageable and can be resolved.  Faced with adversity several times over, your fears will eventually vanish and uncertainty will become your best friend.

5.  Respond Decisively
Leaders who maintain their composure will never show any signs of doubt.  They speak with conviction, confidence and authority – whether they know the answer  or not!  With their delivery alone,  they give their employees  a sense that everything is under control.

Recently, Mack Brown, the former coach of the University of Texas (UT) football team, was put under a lot of pressure to resign as a result of his team underperforming in 2013. 

Though the University handled his forced resignation poorly  – considering Mr. Brown had coached the team successfully for the past 16 years – his decisiveness the day he announced his resignation made you feel that his transition out of the job was a positive thing for the university.  Human nature will tell you that he must have been hurting inside, but his decisiveness and presence of mind made those that were watching him speak believe that the future looked bright for UT football.

6.  Take Accountability
Leaders are most composed during times of crisis and change when they are fully committed to resolving the issue at hand.   When you are accountable, this means that you have made the decision to assume responsibility and take the required steps to problem solve before the situation gets out of hand.

When leaders assume accountability, they begin to neutralize the problem and place  the environment from which it sprung on pause – much like New Jersey Governor Chris Christie did when he announced that he did not have any prior knowledge of the decision his aides made to close down access lanes to the George Washington Bridge.  Though there may be legal woes to come, the manner in which he handled the initial news conference (temporarily) neutralized the crisis – as he answered all of the reporters’ questions and took full responsibility and accountability to punish the perpetrators and keep something like this from happening again.   

7.  Act Like You Have Been There Before
Great leaders know that one of the most effective ways to maintain composure during difficult times is to act like you have been there before.   Leaders that act to show they have been through the problem solving process numerous times before are those with strong executive presence who approach the matter at hand with a sense of elegance and grace.    They are patient, they are active listeners, and they will genuinely take a compassionate approach to ease the hardships that anyone else is experiencing.

Just ask any technical support representative.  When you are on the phone with them, their job is to make you feel that even your most difficult challenges can be easily resolved.     They are there to calm you down and give you hope that your problem will soon be solved.    Pay attention to their demeanor and how they are masters at soothing your frustrations.  They always act to show that they have been there before; their composure puts your mind at ease.

It’s easy to lose composure during times of crisis and change if you let concern turn into worry and worry turn into fear.  By maintaining composure, the best leaders remain calm, cool and in control – enabling them to step back, critically evaluate the cards that they have been dealt and face problems head-on.  A show of composure also puts those you lead at ease and creates a safe and secure workplace culture where no one need panic in the face of adversity.

As the saying goes, “Keep Calm and Carry On!

Glenn Llopis

The One Thing VCs Could Do Immediately to Increase Returns

If the person who can cure diabetes came to you for money, if you were a VC you’d likely turn that person away. And, an inventor who could reduce global dependency on oil by designing better batteries? That VC might not even take the meeting. By venture capitalists’ individual actions, they are limiting growth and innovation. By their collective choices, they are risking our very lives.

Now that might sound a little extreme. But bear with me.

Ted Schlein, general partner at Kleiner Perkins, was recently invited to discuss race and investment in technology. The conversation took place at an inaugural conference called Platform, created by Hank Williams after a provocative series that Soledad O’Brien did on CNN on black entrepreneurship. At Platform, luminaries like Quincy Jones and Governor Deval Patrick, as well as entrepreneurs like urban revitalizer Majora Carter, and Juliana Rotich of Ushahidi came together to discuss what specific changes could be made to have all aboard the innovation economy.

And so all ears were tuned in when well-known VC Ted Schlein of Kleiner Perkins started talking… but Ted denied there was a problem. Despite the story the numbers tell — women receive less than three percent of all venture capital funding, and blacks even less than that — Ted said that the venture capital community was “color-blind” and “operates fully on a meritocracy.” This continued argument disregards the astounding facts that essentially 100 percent of funded founders are white or Asian, and 89 percent of founding teams are all-male.

Since then, we’ve had the case of Paul Graham, who recently got into a brouhaha because he claimed a correlation “between founders having very strong foreign accents and their companies doing badly.” He continued to dig into his argument, believing people were simply misunderstanding him, but he doesn’t acknowledge the facts: immigrants with accents do found successful startups, but often without VC support. Kauffman Foundation research shows that more than half of Silicon Valley start-ups are founded by foreign-born entrepreneurs. Imagine if those with accents could get your support — what tougher problems could they solve?

And who can forget that only two years ago, Vinod Khosla said that only the young can innovate. “People under 35 are the people who make change happen,” said Khosla, who explained his belief that old entrepreneurs can’t innovate because they keep “falling back on old habits,” because “people over 45 basically die in terms of new ideas.”

So, basically, if you followed this limited logic… you’d hear that if you’re a woman, black, foreign, or old, you need not apply; you will not be seen. No matter how good your idea could be. No matter how many lives it could save, or new solutions you create, or how much revenue it could generate.

Listening to Ted Schlein, Paul Graham, Vinod Khosla, and countless other conversations among VCs reminds me of playing peek-a-boo with a baby. Amazed that the person is there, even though they can’t be seen, this mystery creates joy. In the vast majority of VCs case, they believe that the person isn’t there, because they can’t see them. And there’s no joy in that.

Venture capitalists are often “pattern matching”, thus actively looking for someone who looks like the successful founders of Google, FaceBook, Amazon, or Apple. In other words, you are actively looking for people who look like Larry Page, Mark Zuckerberg, Jeff Bezos, or Steve Jobs — white men. Forget differentiation. Forget newness. VCs primarily invest in sameness.

By not seeing (and funding) new-ness you are actually blind, not color-blind.

Now what each of you says when this topic of “blindness” comes up is this: “I am not a racist / sexist / whatever it is you are accusing me of.” And, let me assure you that you’re (likely) not. What you probably are is biased, which is to say your lens is altered by cultural norms and so see what you expect to see. If you’ve largely been surrounded by, say, women who don’t work outside the home, your lens when it comes to women may be warped. But, as I’ve already written in a prior HBR post, bias is fixable — though it takes work.

Others of you say that it’s okay to pass up any particular group since you’re not interested in what you believe is a limited category. The most common one I hear is “I’m not interested in investing in fashion which is why it’s fine with me that I don’t see a lot of women’s pitches.” What doesn’t seem to occur to you is that women are also interested in bio-tech (like Nina Tandon), policy (like Marci Harris), and electronics (like Ayah Bdeir). Even the consumer goods industry is affected. Kara Goldin of Hint is taking on goliaths in the consumer beverages space by redefining what “is” and “is not” water. Each is an innovator, and many more like them exist. If you want to create higher returns, see these “new” types of innovators and watch them deliver home runs. But, first, you have to first actively filter them in, not out.

Finally, I hear you say is that this is about market capitalism and the only measure of success is whether you have made money. You, of all people, know that if you only focus on the profits of your existing enterprise, even though the rules of the game are changing, you leave yourself open to disruption. You now face the innovator’s dilemma — and if you fail to adopt new approaches, you will eventually fall behind, fail, and die. You know this, but mostly you dismiss the opportunity to reinvent.

But my bigger concern is that you will take us collectively down with you. You have — by far — the most access to funds to invest in new ideas. You are the structural gateway of innovation.

You recognize capitalism as an economic system, while dismissing these issues of inclusion as “social”. But I would argue that, in practice, your collective acts in venture capital are fundamentally a new type of structural power, the effect of which is economic in nature. When your collective actions limit human capital, when they deny opportunity based on race, gender and age, then that must be viewed and evaluated as an economic system. Today, practically speaking, it is not the laws that are structurally limiting our economy; rather, it’s money — specifically the flow of money to new ideas.

Ignoring inclusion is something you do at your own peril — and at ours. For we are all at risk when your system excludes. We — society, that is — need you to reinvent how you do what you do.

Now I’m not an innocent. While I’d like to believe in a just world where all creative and hardworking people will be seen, I know better. I know enough of Jeffrey Pfeffer’s work to know that the world has pervasive power differentials and that groups in power, like yourselves, will often respond to outside pressure by digging in your heels because you’d rather feel good about yourselves than risk change.

But what I also know is that it takes some relatively small set of influencers (data says only 10-20% are needed) with an unshakable belief to convince the rest to adopt the same belief. And, of course, some of you are already there, trying to get the rest to join you. Challenging the venture community may seem like an attack, but actually this is a call from the future. Step into the leadership we so need from you.

Nilofer Merchant

Nilofer Merchant is a corporate director at a NASDAQ-traded firm and a lecturer at Stanford, and formerly the founder and CEO of Rubicon. Among other Fortune 500 firms, she’s worked at Apple and Autodesk. She’s the author of The New How and 11 Rules for Creating Value in the Social Era. 

10 Ways To Help Others That Will Lead You To Success

John Hall,

Helping others should be a natural extension of every business leader’s responsibilities. Unfortunately, it doesn’t come as easy as you would think. As leaders, we often get too caught up in operations or our own problems to give people the help they need. However, in the last year, I’ve realized that most of my best clients, partners and relationships have come from me helping someone. Here are 10 thoughts that can remind you to help others.

1. Sharing knowledge
   One of the easiest ways to help others is to simply share your knowledge. You don’t have to be in front of a classroom to teach. Every day there is an opportunity to educate someone about your area of expertise. The key is to keep educating yourself so you can stay ahead of the curve.
2. Finding out what’s valuable to them
   The number one rule of helping people should be to find out what’s actually valuable to someone. You may spend time and effort helping someone with something that they didn’t even want help with. Make an effort to ask them where they need help, and keep that in mind when you see an opportunity.
3. Sharing your resources
   Think about the resources you’ve invested in and be mindful of whether they can help someone else. Maybe a developer on your team has some extra time and one of your contacts needed some help on a quick job. Or, maybe you have Cardinals season tickets and there’s a game that you won’t be able to attend. Keep those under- or unused resources in the back of your mind and try to connect them to people who can use them.
4. Making them aware of an opportunity
   It’s important to keep an eye out for opportunities. It could be good press, a potential partner, or a general business opportunity. Once you see an opportunity, think about who could benefit from knowing about it. One of the ways I like to help my employees is to help their friends, relatives or significant others if they’re looking for a job. A lot of times I can use my business connections to find a potential good fit.
5. Giving them transparent feedback
   Transparent feedback can be tough because some people don’t take constructive criticism well.  There is a difference between telling someone that they suck and giving them good examples of how they can improve.  Some people won’t take it well but, in the long run, you will help the people that you want to work with and improve the efficiency and success of your company as well.
6. Being a brand advocate
   I was at a conference the other day and an American Airlines employee was going on and on about how she loved her Modify watch. She truly wanted to help the company because she loved the product and wanted to see them succeed. Think about the products and services that you love, and don’t be shy about letting people know about them.
7. Giving introductions
   There’s a lot of big talk out there. Someone knows somebody who is a great contact or client, but they never actually make the introduction. Rather than making and breaking promises, make an effort to actually send out several intros each week. However, don’t let your credibility take a hit: make sure the people you’re advocating are legit.
8. Volunteering your time
   Time is valuable and most people understand that.  When you take time out of your day to help a friend, they remember it. I try and do a guest webinar every couple of weeks for contacts so they know I’m willing to take time out of my day to share my experience with the community. Even if it’s not something as public as a webinar or podcast, set aside some time to help a contact. It could be as simple as helping them move to a new home.
9. Recognizing them
   There are a variety of ways to give someone recognition. You can include them in an article that you’ve written or mention them in a speech or presentation. An easy way to recognize someone is to nominate them for an award. There are countless awards out there that could really help out your network. It will mean a lot to the nominee that you thought of them and wanted to recognize them. On a smaller scale, you can have internal recognition within your company. We have an award called “the belt” that looks like a WWF belt. Each week the current winner chooses the next winner. It’s an easy way to make an employee feel good about the solid work they’ve done for your company.
10. Giving gifts
    Gifts can be tricky because you don’t want to “buy” peoples’ favor. You want to get them a gift that makes sense and will help them.  When Hurricane Sandy hit, we sent care packages with items that survivors could use as they recovered from the devastation. People tend to remember who helped them when they were in need, so it’s important to make an extra effort during these times.

Helping others isn’t always easy. It can sometimes derail your schedule and cost you time, money and other resources. It can even be interpreted the wrong way. However, keep these tips in mind for some easy ways to show your connections that they truly matter to you.

John Hall is the CEO of Influence & Co., a company that assists individuals and brands in growing their influence through products and services ranging from creating and publishing bylined articles to facilitating in residence programs for brands and much more. Influence & Co. is one of the leading providers of high quality expert content to the world’s top publications.