Written for EO by Russell Benaroya, a member of EO Seattle and currently the owner of Stride, a fully managed back office accounting and HR services company helping high growth organizations move forward faster. My wife is a parenting coach and educator, a licensed therapist and a social worker. And I’m an entrepreneur. I see the world through a lens of abundance and possibility. You would think that we had this kid thing all under control. No issues, right? I ooze solving problems and I encourage my kids to think in a similar way. We got this. If all goes according to plan, we will have architected the most well-adjusted, abundance-seeking, emotionally intelligent kids around. And that is when I wake up from my dream, in a cold sweat and realize that whatever fantasy I concocted going into this got thrown out the door quickly. And only then can I see that the road is about thousands of micro learning moments, not just for the kids, but for all of us. And those learning moments will not come without struggle and self-reflection joy and anger, but it is there, within those moments, that we find ourselves. Today, with a 14-year old daughter (Maya) and a 12-year old son (Shane), the journey for all of us continues. This year and this part of the journey, we moved from Seattle to Costa Rica, the pursuit of a long-held ambition that my wife and I had to create a one-year abroad experience for our children. We wanted to teach them lessons about independence, breaking out of your comfort zone, seeing other cultures. We have done that but not without struggle as a family. We have all learned a tremendous amount about ourselves and our family unit. Of course, you can’t get the entrepreneur out of me and I tend to think about the parallels with business and team building. Here is what comes to mind for me during this year of transition and change: Choices Create Control.The power of giving choices cannot be underestimated. When we feel told what to do it takes away our power. When we are given choices, we can decide (within a set of constraints). “Would you rather make your lunch today or clean up after dinner tonight? Would you rather do your math work right now or write that English paper?” Giving our kids control of decisions has reduced conflict as they feel that we aren’t stripping them away of their ability to have choice. Growth Mindset is the #1 Attribute to Foster.Carol Dweck has famously published research around a Growth Mindset vs. a Fixed Mindset which challenges us to embrace challenges and the unknown for learning rather than feeling that our talents and capabilities are static. This is not just for children. We are growing and learning as well, and we must be able to share our fears and goals and desires with our children to model what it means to be out of our comfort zones and wanting to improve. Just ask my wife how her tennis is coming along. Courage is Speaking Your Truth.Kids have this incredible advantage in that they aren’t political yet and truly speak from a place of feelings. As adults, we tend to worry a lot about how we are perceived, what people will think, how we stay in control. My daughter came out to us as gay over a year ago. She was 12. I was scared. She was courageous. She spoke her truth and moved on. I have had a lot of introspective work to do. She is liberated. Embrace Wisdom of the Group.There is a theory that says a better decision will be made with the input of a group rather than any individual acting alone. Two weeks ago, we all sat around the dining room table and spoke about how we were feeling living in Costa Rica. It was emotional with many tears (side note: There is something magical that happens when I show vulnerability and my kids comfort me) and a few laughs. We let each person speak for 5 minutes, uninterrupted. We put all the feelings on the table and we are using that as the basis for making our next decision. Nothing was left unsaid and from there, we can be better informed in how we proceed to the next chapter. Express Gratitude.Every Sunday evening, we go around the dinner table and each person shares an acknowledgement of gratitude to each person in the family. It is sometime a bit of a struggle, but we have trained this muscle and it is so powerful. Gratitude is one of our most effective family foundations and even though we might be in a period with a bit of struggle, we can always find a reason to acknowledge each other. Just Having a Plan is Not Sufficient.Every year we go someplace away from our home and spend 3-4 hours building our annual goals as individual and as a family. My kids hate it. I love it. I know the power of planning. Some years, however, these great plans get filed away because life gets “too busy. But this year, we have monthly check-ins for accountability. We post the current month intentions in a visible place. It allows us to better celebrate accomplishment and reinforcement that we are keeping our agreements. What I have realized is that as parents (and as business owners), there will be thousands of moments when we are faced with having to react. Some moments will be celebratory. Some may feel existential. Others might feel downright depressing. But I have realized that this is exactly what the journey is about. There is no defined outcome of success. The only thing I can control is whether I continue to learn and live in accordance with the standards that we set as a family. The outcome will take care of itself and it will be perfect (whatever that may mean). Russell Benaroya joined EO in 2007. To learn what it’s like to be a member like Russell, visit the EO Network. The post A Year Abroad Brought us F2F with the Power of Parenting appeared first on Octane Blog – The official blog of the Entrepreneurs' Organization. via Octane Blog – The official blog of the Entrepreneurs' Organization http://bit.ly/2WqE2rT
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In their book Cracking Complexity, David Komlos and David Benjamin share the steps to working through any complex business problem—both quickly and using existing talent, not consultants. When asked how they developed this groundbreaking formula, they say, “We didn’t create the formula out of whole cloth; we stood on the shoulders of both obscure and mainstream luminaries like Warren McCulloch, W. Ross Ashby, Norbert Weiner, Buckminster Fuller, Russell Ackoff, Heinz von Foerster and Stafford Beer, spanning brain research, psychology, complexity science, systems thinking and cybernetics. It took centuries of their and others’ genius thought, wisdom accrued over lifetimes and much trial and error to get to the point and the time where we were ready to pull it across the finish line.” Once they identified the steps, they started using the formula with senior leaders from across the Fortune 500, governments, and not-for-profit organizations in 2002. David Komlos and David Benjamin answer more questions about their new book and what makes their formula uniquely applicable in today’s business world. Why did you write this book?We wrote the book to spread the word to organizational leaders that there is a ‘better mousetrap’ for solving big problems—they don’t have to spend millions of dollars and months or years to get to solutions that aren’t executed. Instead, with the formula we describe in the book, they can spend an order of magnitude less over the course of a few days to get to solutions that their people believe in and are mobilized to implement. The book is designed to equip businesses and social enterprises to do far better and go much faster at resolving their weighty challenges (whether that means better consumer products, better bottom-line financial results, or better therapies for oncology patients, for example). What defines a complex problem?Complex problems—like doubling growth, taking out cost, merging, leading in customer experience, etc.—are dynamic, unpredictable, untidy, perplexing and don’t come with right answers, only best attempts. They require new solutions each time, created specifically for the circumstances, and you can only know that you’ve addressed them successfully in retrospect. And, they require stakeholder buy-in for sustained execution. Contrast that with a complicated challenge, where someone with expertise (you or someone you hire) can reliably and repeatedly solve it no matter the situation. Fixing a car is complicated; fixing a city’s transportation infrastructure is complex. Implementing an accounting package is complicated; figuring out what needs to change in a low-growth accounting firm is complex. You have a formula for solving complex problems. What is it?The complexity formula includes ten steps that leaders can apply to quickly and effectively get traction in the face of complexity. At a very high-level, after having articulated the complexity in the form of a really, really good question, a leader is guided through how to:
How is this different from the way leaders usually approach complex problems? What do they usually get wrong?Leaders often approach complex problems using experts and interview-based, analytical techniques that have been honed for complicated challenges. This is what they know, and it’s worked in the past. But today, as the pace, scope and impact of challenges accelerate, organizations cannot afford to spend months and years applying costly and time-consuming approaches that don’t actually work. They’ve noticed this and are looking for something better. Can you share an example of how the formula works in practice?The owners of a private equity (PE) firm convene a high-variety group of people (40+) from their organization and a few acquired/integrated businesses. They ask the group the following, painstakingly detailed question: “What must we do now and over the next 12 to 18 months to grow earnings by 300 percent over the next four years while maintaining acceptable margins (20 percent or better) and continuing to be a great company to work with and for?” The group deconstructs the question into their own agenda of topics, covering considerations like: “What are the infrastructure and technology changes we have to adopt now to achieve that kind of growth?,” “What adjacencies should we enter?,” “How can we improve employee engagement?,” “How can we grow margin?,” and so on. They then spend three distinct iterations digging into those (and other) topics, each individual playing specific speaking roles (designed to break the usual behavioral patterns) while moving from topic to topic and interacting directly with every other participant. In this way, they collectively progress from debate and story-telling around issues and opportunities, to ideas and finally to answers. All of this happens within a network that forces high-quality, high-volume interactions (what we call “collisions”) amongst all the individuals and tight connectivity amongst all the topics And this all takes place over the course of a few days. In this case, two years after applying the formula, they had doubled earnings before interest, tax, depreciation and amortization (EBITDA) and continued to not miss a beat. They’d won a few industry awards. The PE firm owners and leadership team used the strategic action plan that emerged from the formula to monitor and evaluate progress in quarterly meetings. They refer to the experience as “an inflection point.” One of the most interesting things about your approach is that it doesn’t outsource the thinking work to external consultants or experts. But rather, drawing on the talent you already have in and around your organization. Why do you suggest leaders go about it this way?When it comes to any complex challenge, with its many moving parts, your own ecosystem collectively sees everything that’s going on with more clarity than any outside individuals or firm can on their own. More importantly, when you enlist people in and around your organization to co-create the way forward, you realize some critical benefits as byproducts: you get people working across silos, instead of having someone else act as the envoy; you give people ownership of the problem and the solution, instead of disempowering them by giving it to someone else; and you begin the process of change management and mobilization, instead of treating those objectives as phase-two initiatives. You write that the new currency of solving complex challenges is collisions, as opposed to brainpower. What do you mean by this?We wrote a paper on this, where we answer the question this way: Things change. The currency of solving big problems has changed. We know now that companies can’t successfully resolve their biggest challenges anymore by handing them over to the biggest brains—the challenges are too big and too complex; they also move too fast. The writing is on the wall for what worked in earlier times. You can no longer rely on a small number of smart people to figure things out and single-handedly guide everyone else to victory. We know a lot more today than we did in the past about the importance of networks. Strong networks yield robustness, efficiency and reliability. We believe a lot more strongly today than we did in the past that there is strength in diversity. We know that agility, flexibility, adaptability and speed are survival “must-haves.” We understand that without innovation, nobody keeps up or stays ahead. What many people don’t explicitly understand yet is the vital importance of interactions. Chemical reactions happen when substances mix. Recipes work because ingredients are blended. Insights and advancements happen when previously separate thoughts are put together. When networks connect diverse groups and rapidly, dynamically, and systematically drive high-quality interactions (or, as we like to say, collisions), “serendipitous” invention happens. The currency of solving big challenges is collisions; many, many collisions amongst the right variety of people in a connected, comprehensive, robust and exponentially-paced way. What are the different types of problems that leaders could apply this to?In the book, we devote an appendix to “Where Else?” and list a sample of situations that have greatly benefited from the formula. These include growing in a developing market, growing in a zero-growth industry, disrupting ourselves, creating new digital businesses, bringing a new class of medicines to market, bringing a state up the ladder of health indices and outcomes, creating the innovation agenda, developing a talent strategy, institutionalizing enterprise key account management or enterprise risk management, designing and launching a joint venture, determining and aligning the organization around its big data strategy, complying with new legislation and taking out cost. The only common thread is complexity. Many a great strategy has died on the shelf. How can leaders make sure these plans actually get put into action?Now, how do leaders ensure the plans developed via the formula get put into action? There are eight key success factors for execution in the complex domain:
When you’ve approached the creation of solutions to your complex challenge the right way, the process by which you’ve done so is also a down payment on these execution essentials. What is the single most important thing you hope readers will take away from your book?That’s easy. If nothing else, we hope readers will take away a belief that there is a better way to solve the defining challenges they face. The formula exists. It’s proven. It works. You can boil the ocean. There is a silver bullet. Getting good at this will make you a better leader and will make your organization far more resilient and competitive. Period. David Komlos, CEO of Syntegrity, is an entrepreneur, early-stage investor and speaker who has helped change the way many global leaders approach their top challenges. David Benjamin is the co-founder of Syntegrity and the chief architect behind its implementation of the Complexity Formula as laid out in his book, Cracking Complexity. David regularly guides leaders and their teams through their application of the formula, helping them get to decisions and action in days, no matter the industry, type of challenge, or nature of the organization.
EO members have access to groundbreaking and lifechanging learning and experiences. Learn more about EO membership and how to apply. The post The Book that Reveals 10 Steps to Solving Any Complex Problem appeared first on Octane Blog – The official blog of the Entrepreneurs' Organization. via Octane Blog – The official blog of the Entrepreneurs' Organization http://bit.ly/2GMY3lO As director and part-owner of the recruiting agency Sharp & Carter, Anthony Holdstock understands the value of building and maintaining a strong team. “Businesses that are driven by people and legacy, as opposed to profit and growth, tend to keep people for longer,” he explains. His approach to hiring has helped grow his business significantly. He bought into Sharp & Carter in 2013, and the firm has grown from seven people in Melbourne to 120 people across Melbourne, Sydney and Brisbane, Australia. Anthony recently shared his top tips for employee retention and growth in an EO Melbourne blog post, which has been adapted for this article. 1. Focus on relationshipsBuilding a strong work environment is largely about creating relationships with employees. Understand their needs, consider what drives them, and treat them right. “The chance of a business being successful are going to be a lot higher if you can keep good people for longer,” says Anthony. One thing that his firm did early on is invest in an organizational development team. Doing so illustrates a commitment to developing people within the organization and continuously improving. This sends a powerful message to new hires, existing staff, and even clients: When you join the company, the company invests in you to help you become better at what you’re doing—both in and outside of work. 2. Conduct a character scanMany organizations hire people based on skillset and experience. For Anthony, this component should comprise only 25 percent of the selection criteria for a job. Another 25 percent should consider how the person fits into the organization. The biggest bulk, 50 percent, must focus on character and culture fit. Typically, job descriptions and hiring processes are tailored to the requirements and needs of the company. Citing Sharp & Carter as an example, Anthony recommends an emotional intelligence test as part of the hiring process. Among the factors the agency considers during assessing potential hires are optimism, empathy and resilience. They also do DiSC profiling to understand the core needs of the person they’re hiring. 3. Recruit for nowA common mistake that managers and founders make is hiring a person based on where they believe the organization is going to be in a few years. “I think most people want to hire for the future, but we don’t know what’s happening in the future,” explains Anthony. “So, hire for now and rehire down the track.” 4. Get the right mix of people“When it comes to recruiting professionals to organizations, assess your team now. You need to have people who want to be stable and who are happy to do a great job from 9 to 5. They do an awesome job, but their number-one priority is family. You also need people who want to take your job and progress through your organization, if possible. Getting that mix is important,” Anthony shares. 5. Partner with organizations that can bring you valueRecruiting agencies that can focus on finding and assessing the right person for your position will save you time. They can often find talent outside your typical network. Anthony says that if you choose to work with a third-party partner for hiring, it’s important to give the agency an opportunity to understand your culture, what you stand for and the position you’re hiring for. 6. Aim for good leadership and continuous improvementLeading a company means seeking continuous improvement to become better—better in your business, better as a teacher, better as a guide to your people. To continually get better and stay ahead of the curve, Anthony says business leaders must keep innovating and looking for ways to become better. For him, leadership comes down to shaping the culture of the business and providing employees with the development they yearn, which then contributes to the overall growth of the venture. EO has been part of that commitment to improvement for Anthony. “For me, EO has been all about growth and continuous improvement. It is learning from people who are great and being able to implement what they do great,” says Anthony. Anthony has been a member of EO Melbourne since early 2019. To learn more about the value of EO membership and how to apply, check out the EO Network. The post 6 Tips for Hiring and Keeping the Right Team Members appeared first on Octane Blog – The official blog of the Entrepreneurs' Organization. via Octane Blog – The official blog of the Entrepreneurs' Organization http://bit.ly/2Y1xrVw |
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November 2020
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