Tag: Being a boss

Being CEO

Don’t slip into reactive mode -> determine your top 3 priorities for the week and spend 80%+ of your time on those

Chris Labs

Most executives are entirely reactive to requests for their time and typically let anyone in the organization put meetings wherever they want on the calendar. You should instead view your calendar as something you proactively manage and design. Each Sunday afternoon, write down your top 3 priorities for the week and design your calendar to spend 80%+ of your time on those priorities. You can leave some “leftover” time on your calendar to fill with the reactive requests. You need to constantly check back in every week to not let yourself slip into a reactive mode and perform calendar audits … Continue reading Don’t slip into reactive mode -> determine your top 3 priorities for the week and spend 80%+ of your time on those

Learnings

If you’re about to promote someone, tell them they would be doing you a great favor. It will make them feel doubly important

Chris Labs

Woodrow Wilson followed that policy even when inviting William Gibbs McAdoo to become a member of his cabinet. That was the highest honor he could confer upon anyone, and yet Wilson extended the invitation in such a way as to make as to make McAdoo feel doubly important. Here is the story in McAdoo’s own words:”He [Wilson] said that he was making up his cabinet and that he would be very glad if I would accept a place in it as Secretary of the Treasury. He had a delightful way of putting things; he created the impression that by accepting … Continue reading If you’re about to promote someone, tell them they would be doing you a great favor. It will make them feel doubly important

Learnings

If an employee performance is down, do the following:

Chris Labs

“Bill,” he said, “you are a fine mechanic. You have been in this line of work for a good number of years. You have repaired many vehicles to the customers’ satisfaction. In fact, we’ve had a number of compliments about the good work you have done. Yet, of late, the time you take to complete each job has been increasing and your work havs not been up to your own old standards. Because you have been such an outstanding mechanic in the past, I felt sure you would want to know that I am not happy with this situation, and … Continue reading If an employee performance is down, do the following:

Being CEO, Learnings

Asking questions instead of giving orders often stimulates creativity

Chris Labs

When Ian Macdonald of Johannesburg, South Africa, the general manager of a small manufacturing plant had the opportunity to accept a very large order, he was convinced that he would not meet the promised delivery date. The work already scheduled in the shop and the short order completion time needed for this order made it seem impossible for him to accept the order. Instead of pushing his people to accelerate their work and rush the order through, he called everybody together, explained the situation to them, and told them how much it would mean to the company and to them … Continue reading Asking questions instead of giving orders often stimulates creativity

Learnings

I don’t criticize, I believe in giving a person incentive to work instead.

Chris Labs

This is from a man who earned over a million dollar a year when someone earning fifty dollars a week was considered well off. “I consider my ability to arouse enthusiasm among my people,” sais Schwab, “the greatest asset I possess, and the way to develop the best that is in a person is by appreciation and encouragement. There is nothing else that so kills the ambitions of a person as criticisms from superiors. I never criticize anyone.[…] So I am anxious to praise but loath to find fault.” -Charles Schwab *Charles Schwab was one of the first people in … Continue reading I don’t criticize, I believe in giving a person incentive to work instead.

Being CEO

Excess of money, plans or technology will lead any business to failure

Chris Labs

Asking what leads to success is misleading. You can’t copy success because there’s a million different factors (combination of luck, timing, context, etc.). Instead you should ask: “What are the keys to failure?” Because those are always the same. There are 3 things that will kill any company if in excess: Money Plans Technology Alibaba had that internal motto: “No money, no plan, no technology”. Money Money makes people stupid. When problems arise, the first instinct becomes “throw money at it” instead of attacking it with creativity. And this works sometimes. But it becomes this crutch that you can never … Continue reading Excess of money, plans or technology will lead any business to failure