October 2009

Is your Executive Branch Ready for the Aftermath?

Oct 13 2009
By: Doron York
Categories: Leadership Talk
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The most evident observation that can be made is that significant numbers of executive branches in many companies were not ready for the current economic crisis. The $64,000 question is this: are they ready for the aftermath?

Although most executives I meet do not care for the analogy, if you look at a military operation, officers are trained consistently and repeatedly.  They are trained again and again for the entire life of their service. The thought process is that ongoing preparation is the only way to condition them to be ready at all times.  Another example can be seen with football teams who do not stop training and developing their players based on the team’s win/loss record.  A key part of being ready is to invest in training & development. Training and development is what keeps the team competitive.

So why then does Corporate America relate to the training of its leaders and executives as a monetary option and not as a strategic necessity?  Is this not at the core of the issue?

In my opinion, I think Corporate America is far from ready for the aftermath. Training is not a financial issue, but fundamental and strategic. We have all heard the saying, “Practice makes perfect.” Can you imagine what would happen to the quality of leadership if leaders and executives were to practice the art of leadership more often?

I have heard more times than I can count companies proclaiming, “We will start training again when business starts to pick up.” This is a dangerous approach because if you are not investing in developing your leadership team now, they will not be ready for what is to come. The military does not stop training in war time; the opposite, in fact, is true: they intensify training.

My assertion is that most executive branches in Corporate America were trained and developed in booming economic times, which made many of them unable to deal with breakdowns i.e. “bad news”. It is not that they were unwilling to; it is just that they were not conditioned and trained appropriately, and as we have seen, they have often responded ineffectively as a result.

The training and development of an organization’s leadership team is the most critical element in order to prevail in times of crisis and to excel in the emerging economy.

Remember, your products and services do not make your management team, your management team is what drives your products and services.

Is your management team ready for the aftermath?

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Are you an Entrepreneur or a Conventional Business Owner?

Oct 13 2009
By: Doron York
Categories: Business Talk!
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Most often throughout my work, I am asked; what are the most important or most critical factors for entrepreneurial success?

Well, my answer is twofold. First I would like to clear up a misconception many people have on the very nature of entrepreneurship. Although the conventional perception is that any person who starts or runs a business, (a small business, for the most part) is an entrepreneur. My observation is very different. True entrepreneurs are by nature very savvy business people that understand the fundamentals of business from the inside out. To put it another way, people with a natural ability a “neck” for the game of business. Although the business world consists of many personality types, the majority of successful entrepreneurs, by societal standards, at least that I have worked with, seem to demonstrateDriver or Ego Expressive characteristics.  These are aggressive, often demanding, and socially active people.

There is a very distinct difference between a Conventional Business Owner and an Entrepreneur. Which are you?

Conventional Business owners:

Business owners for the most part are busy running their business focusing on the operational and the financial side of the business. They want to learn and be good at every aspect of their business, as they are the only one that can do it, and believe that they can do it better than anyone else. They personally manage their expenses, and spend precious time doing what can be delegated to others.  They are risk adverse and very calculated when it comes to spending. They view most business activities as an expense and look at their businesses current reality for what they can or can’t do. They tend to isolate themselves in their own world and they worry a lot. They live in the world of probability.

Entrepreneurs:

Spending most of their time expending and building the vision and the future of their business, they are not concerned with knowing everything; they know that they can assimilate the parts to accomplish that objective. They know that they can “buy” or hire skills and knowledge. They tend to give away the operation side of the business to others and spend their time out and about selling and promoting, the key elements to business growth. They are not the best managers. They are charismatic and enrolling. They view problems and breakdowns as opportunities. Their tolerance for risk is very high. They live in the world of possibility.

“Conventional business owners see the glass half empty, Entrepreneurs see the glass half full”

So let me ask you:  What is the most important or critical element for entrepreneurial success?

Being a successful entrepreneur is a function of two things and two things only (at least from my point of view):

  1. Know who you are inside and out and be complete with the way that you are, and the way that you are not.
  2. Know and understand the market inside and out.

In conclusion, entrepreneurship is not necessarily about knowing finance, operation, product development, technology etc… Although it is a plus if you have all of that, and most true entrepreneurs do, it is about understanding the market, i.e. people habits, trends, social evolution, the political landscape and human nature. To have the ability to discover hidden needs and desires, to see a picture not yet crystallized before someone else and then turn it into a reality.

Now you are talking true entrepreneurship!

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    PAAR & Company is a global enterprise that specializes in the impossible. We are in the business of coaching corporate leaders in advancing forward those areas that are making an immediate, relevant and positive impact on their leadership presence and that are highly critical to the sustainability of their enterprise.