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What Type of Leader Do You Want to Be?

Defining the Type of Leader You Are

As our businesses adjust to the global pandemic, this period has been understandably stressful. New protocols, measures and considerations have been required to ensure a safe and gradual reopening of the economy. We have had to recalibrate the way we work and live.  Organizational climates have changed significantly. By that I mean the work environment experienced by an employee, where they work (from in-person to virtual, to hybrid models) and how they feel about work. Leading from a core set of principals is quite different from leading from a place of self-preservation. A leader who is driving progress and innovation, ensures fairness, and creates opportunities for all can be a real motivator for staff. Doing the right things for employees first and foremost, mentoring and supporting as required and paying positivity forward helps equate to team results.

Effective Type of Leader

We have all had experiences in our career where we have worked with an effective and enthusiastic leader, and the opposite side of the spectrum a reactive and rushed leader. It is important to note that we can also move from being one to another if we do not remain mindful of how we are connecting with people and managing our stress levels. COVID has been a real test for many leaders, how are you fairing?

Remaining Diligent

We need to remain diligent in checking in and identifying our behaviour and energy levels. We will be more intentional in having a substantially increased number of good days in comparison to bad if we do so. At the end of the day it is really quite simple, do you want to feel energized and enthusiastic in your position, or exhausted and frustrated by the little you have accomplished? Without adjustment of our attitude and behaviour, our days can slide into weeks, months and easily years of being a certain type of leader.

Which column do you more resonate with today?

 

Dissatisfied and Burnt OutMotivated and Focused
   I feel like I have to be on 24/7.   I have a good sense of purpose and know that I am having an impact.
   I have too much to do, in too little time.   I am focused on goal attainment and result achievement.
   I can’t focus on the long-term vision as the daily grind takes up all my energy.   I enjoy and am satisfied with the work that I am doing.
   I am so busy and tired; I don’t have the energy to motivate my team. I need them to see what I am doing, step up, show more interest and take on more.   I have great collegial connection and synergy with those in the team – real flow.
   I don’t have the time or resources to work on my own professional development. Seriously, professional development is not even on my radar.   I am passionate about continually developing both professionally and personally. I am driven and am ambitious to do better and be better.

 

 

I am the first to admit that there can be a fine line between being highly engaged and a continuous producer of exceptional results, to being burnt-out. I can think of one of my leadership roles that I derived great satisfaction in for an extended period of time. I attained consistent results, had a brilliant team of dedicated and motivated staff that I enjoyed working with, was happy to take on more and more responsibility, and never said no to an innovative project. However, a change occurred at the executive level that impacted the culture of the unit. Values were no longer aligned, nor was there appreciation, trust or recognition of efforts. The day-to-day sacrifices, expectation of working 12+ hour days and being on call 24/7 was understandably not worth the personal and professional sacrifices. This resulted in a stalled career, inability to grow as I would not promote the flawed culture to my team and stakeholders, in addition to a negative impact on my health. The ripple effect of this experience cascaded through my team and directly onto my family. When you are not operating at your optimal leadership and performance level it can ultimately affect all aspects of your professional and personal life. My best learning experience on how ‘NOT’ to lead, and one that ultimately changed my professional trajectory from that period onward.

 

When there is the ability to continually develop, grow and stretch into new opportunities, a direct result can be found in greater job satisfaction, engagement and bottom-line results for all levels in an organization.

Questions for you to ponder:

  1. Are you doing your best work? Does it have meaning, impact and is it making a difference?
  2. What type of leader are you being?
  3. Are your professional practices, or routines working for or against you?
  4. How can you raise your game on the professional and personal front?
  5. What can you be doing to help raise the game of others around you?
  6. Do you lead from a position of trust and support, or stress and ego?

 

In my leadership and development consultancy I work with leaders and teams locally and globally to improve their ability to drive business performance and increase productivity. I focus on helping and equipping clients with skills and tactics to enable them to become a better type of leader and achieve their professional, and personal best. I help individuals to move from feeling dissatisfied and burnt out to motivated, energized and focused.

Contact Me

If this article has resonated with you and you would like to move from being dissatisfied and burnt out, to motivated and focused please reach out to askme@jennyreilly.com

 

Make this week a great one.

 

 

 

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How to Overcome Leadership Fatigue

Leadership Fatigue is Real

The continual pressure of being asked to respond with certainty to a situation through the coronavirus pandemic when we do not have all the answers has been taxing on individuals in leadership positions. As we continue to focus on employee safety and morale, communicating regularly and effectively is essential in providing support and transparency of expectations for employees. Our employees and clients are viewing our actions and energy levels, and personal strategies to keep on top of the fatigue need to become a habit. It is crucial to take care of ourselves physically, be mindful of our thinking and emotions, as no-one else can do that for us. It is our responsibility to model good physical and emotional health and be an inspiration and motivation to our employees.

Being Visible with our Employees

As a leader, we need to be visible with our employees, for some that may now be in-person. However, for the majority, it remains to be through remote video connection or phone. Managing the increase of communication channels to employees has been taxing for many, however essential as it has helped people connect in a way that they are most comfortable. The use of video and video conferencing has increased fivefold as we communicate new provisions for employees, pivots, contingency plans and encourage the ability of staff to improvise from a strong foundation as they navigate ways to work more efficiently and effectively under different conditions.

Lockdowns are Lifting, the Pressure is Not: How to Navigate It

As lockdowns continue to lift and we navigate our way through the impact and effects that the coronavirus has on our organizations and people, we need to put measures in place to help manage and cope with extended periods of stress. Rethinking responsibilities to focus on what employees need the most of right now is essential. Our instinct may be to focus on more business orientated strategies that, for many, are easier, however providing a sense of predictability, compassion, empathy, and explicit control is what is still needed.

 

A shift of priorities on existing business dimensions can be helpful to manage leadership fatigue:

  • Prioritizing communication clarity and security for employees
  • Projecting one-week, one- month and one-quarter out and reframing efforts
  • Revising priorities against conflicting demands and encouraging staff to provide input through the use of open-ended questions before providing solutions, and
  • Implementing adaptive bottom-up approaches to complement efforts

 

leadership

 

It’s Okay to be Still

Relentless and consistent action to move forward, being adaptive, redefining and reshaping the way we work will help leaders continue to manage well in this time of uncertainty. We may not have the bandwidth to address every short-term challenge; however, if we aim to do our best with the data and knowledge that is at our fingertips, we will make progressive and compounded changes that will be of benefit to our organizations.

 

For many, the fear of failure or reinvention is exceptionally stressful. Being comfortable with moving away from a more hierarchical to a flatter organizational model whereby collective intelligence within the company can be harnessed will enable better results. We need to think like a futurist as we map out our strategies moving forward and brace for the uncertainties in the economy.

leadership fatigue

Adaptive Leadership

Adaptive leadership requires a focus on identifying and evaluating opportunities to help teams thrive.  Leaders need to be optimistic while at the same time, realistic in how we can seize opportunities. Survival (pending industry) for many is top of mind; we need to move out of survival mode and achieve resilient growth through this changing business cycle to thrive.

 

Allocating time in your schedule to reflect and think is crucial. Think of this scheduled time as a sanctuary where you can step away from day to day stressors and regain your perspective. Build and utilize a small group of confidants that you can run ideas or issues by that will help you make decisions wisely. Be your authentic self professionally and personally, and don’t get tied up with your ego and role.

 

 

We have many variables in our businesses to consider, and there is clarity through data that can assist in the making of the right decisions. The teams that I have seen proposer are led by individuals that are demonstrating high-performance traits. These teams have grown closer, increased levels of communication, felt supported and are in line with the organizational values.

leadership fatigue

In Summary:

  • Block off ‘thinking’ time
  • Integrate self-care into your schedule like any other activity
  • Build a group of confidants to lean on
  • Debrief stressful situations
  • Be your authentic self professionally and personally

 

 

 

Be safe, be well, and be kind.

 

 

 

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Breaking the Inertia and Old Workplace Systems

Breaking the Inertia of Current Life

The implementation of transformative business practices and increased digital processes have been a direct result of COVID-19. At breakneck speed, a significant change has occurred in the way we work, and it is frankly long overdue. The traditional workplace systems have pivoted, and as employee safety continues to be our priority, we have transitioned to remote, or hybrid models and become proficient in videoconferencing, adopting better methods of communication, task tracking, and collaborative team practices.

Current Economic Environment

We know that it has understandably not all been smooth sailing through COVID; however, people and companies have adapted by changing their workplace systems. We will continue to be in a state of flux until a vaccine is available and need to ensure that we implement sufficient measures to retain and improve our company culture for our employees. Many employees miss the in-person day to day interaction, helpful side-bar conversations, and the energy that comes from working in a physical space together. On the flip side, McKinsey’s research has indicated that ’80 % of people questioned enjoy working from home. Forty-one percent say that they are more productive than before and 28% that they are as productive.’

 

Workplace Systems

What To Do Now

It is now time to focus on rethinking the way we work, reinventing the business structure, removing unnecessary boundaries, and reshaping the way we attract, develop, and retain talent.

 

 

Ten questions for you to ponder:

  1. Reimagine how you can improve your workplace systems. What work is essential in-person, and what can be done remotely for the long term?
  2. How can you reinvent your workplace and redefine your physical business space?
  3. How will you ensure that company culture remains a priority?
  4. How will you create an excellent experience for employees, whether they are on-site, remote or working in a hybrid model?
  5. Will providing the option of remote, or hybrid hires increase your talent pool?
  6. What additional safety precautions should you provide in addition to social distancing, wearing masks, hand-washing stations, and restricted entry and exit protocols?
  7. Can you improve the utilization of flex office space?
  8. What level of employee upskilling, training and support is required for employees?
  9. How can you improve or integrate seamless online and in-person collaboration?
  10. How can you utilize technology and data in your organization to speed up decision making?

Workplace Systems

 

 

Leaders are breaking the inertia; many have implemented significant changes as a direct result of COVID. These changes have resulted in a ‘reset,’ or ‘unblocking’ of stagnant ways, and the ability to indeed lead with a visionary focus.

Get in Touch

If you need help breaking some of your long-standing Workplace Systems issues, developing your team, or planning the next best steps to take within the organization, please email askme@jennyreilly.com or book a 15-minute complimentary strategy session directly on

 

Workplace Systems

 

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What is the Value of Having an Executive Coach in Vancouver?

Does Executive Coaching Help my Business?

In this time of Covid-19, my consulting practice has been receiving an increasing number of queries regarding executive coaching and leadership support directly from individuals in C-Suite positions, entrepreneurs, small business owners, and HR practitioners for organizational leadership teams.

 

Executives and leaders appreciate that in a time of crisis, with complex business environments, executive coaching in Vancouver can nurture performance, provide support, build resilience, and foster continuous leadership development.

 

executive coach in Vancouver

As an executive coach in Vancouver, I specialize in strategy and focus on high-performance objectives with clients. I am not a life coach nor psychologist. Upfront in all query conversations, I first determine if the fit will be a good one for both the coachee and myself, that there will be an honest and authentic conversation, and confirm the rationale for the coaching relationship. Once the fit is determined, I review the value proposition of executive coaching, return on investment, and expected results. We determine coaching expectations, and I help the individual define the best path forward.

Executive Coaching for Small Businesses

Through executive coaching techniques, I challenge clients to lift their performance, leverage possibilities and opportunities, nurture their skill sets, and define how they can address challenges. As a strategist, I guide clients in the process of solving their problems, leaning into opportunities, and proactively setting out and executing on their goals. I share alternate perspectives, challenge current thinking, and encourage the setting of personal standards of performance. We work on areas of challenge, the development of strengths, and celebrate every victory or breakthrough along the way.

 

executive coach in Vancouver

 

What are the Results?

Strategy aside, the bottom line is helping leaders achieve their professional and personal best so they can work better, live bigger, be happier, and achieve more. Coachees can expect to experience the following results:

  1. The setting of ambitious goals and a personalized roadmap for professional and personal success
  2. Increased productivity and standards of performance
  3. Focused investment of time, energy and attention
  4. More time as practices and habits that are no longer serving are eliminated. So too are distractions, timewasters, and stressors
  5. Reacquired mojo around a passion for work, personal wellbeing, and life.

 

executive coach in Vancouver

 

An executive coach in Vancouver does not magically change a person; an individual has to want to change, develop, and grow. We work on areas concerning:

  • Performance and engagement in the context of working in a team
  • Awareness of the type of relationships fostered in and outside of work
  • Identifying the potential for change, desire to make the change and obstacles to be addressed to enable the change to take place

 

Get in Touch

I onboard a maximum of seven new coaching clients monthly, if an executive coach in Vancouver is of interest to you, please do reach out to me.

 

For general program information, please email askme@jennyreilly.com or call +1-604-616-1967. If you would like to jump on a 15-minute discovery call, please book directly into my Calendly appointment schedule.

 

 

 

 

 

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Small Business Owners – Know Your Numbers in Four Easy Steps

Small Business Finances

Finances are at the top of mind as many small business owners are now at the stage where they can regroup and have the energy to reassess their financial situation after dealing with the aftereffects that COVID-19 has had and continues to have on businesses.  Understanding your numbers is not exactly an exciting task to add to your ‘to do’ list, however, keeping an eye on these figures will help attain a realistic view of your business and determine what the future may hold.

 

The numbers are one area that tend to receive the least attention in small businesses. Having an understanding, learning more, and setting up simple processes to give you an overview of the numbers quickly will help you keep an eye on what is driving your business.  It will help you tweak activities, pivot where necessary and focus on that aspect of your business that needs the most of your attention.small business

 

Getting your small business financial house in order this upcoming quarter is an excellent objective. Being informed will help you feel more confident about your financials, promptly pay vendors and suppliers and focus on getting your working capital back to targeted levels.

 

Understanding the Basics

As we enter our third quarter this week on July 1st, it is time to get back to the basics and carefully examine numbers. As a small business owner, I appreciate that your days are full of endless activities required to keep your business running. At the end of the day, the last thing you feel like doing is looking at your financials; however, I cannot stress enough how important this activity is to your business’s success. Even though you probably have an accountant and bookkeeper to assist with your taxes and payroll, it is your responsibility to understand the basics to help you keep your business in the black. Blocking off a couple of hours per week, preferably at a time when you are at your best will help you keep track of the critical financial figures you need to know, what is being spent and what potentially can be trimmed or cut. Before looking at the recommended tasks at hand, an overview of simple terms may be of assistance.

 

Cash Flow: Your operating cash flow provides an overview of your business. Subtract your operating expenses from the money your small business generates. Your accountant can help you work out the depreciation of your net income for working capital, receivables and inventory. If your operating cash flow is more than your cash outflow, you are operating in the black. If this is not the case, it is time to take a deep dive into reviewing your income and expenses. Every month, you need to have the cash flow to meet your monthly payments.

 

Net Income: This is your net earnings and profit. From your income, subtract your expenses and taxes (do not include depreciation); this will provide you with a quick indicator if you are earning or losing money.

small business

Profit and Loss: Your P&L statement provides a snapshot of your sales and revenue minus expenses. I would suggest you look at your P&L weekly, monthly, quarterly and annually. Keeping on top of this can be a great motivator in setting focused direction, making plans for the future and setting short- and long-term goals.

 

Sales: The most critical activity in a small business is sales. Through COVID, companies tend to have fallen into two categories being thriving or surviving. Ensuring you keep a close focus on numbers can help you work out where you have to pivot in the company to increase your sales numbers. Your sales numbers help you determine if you are on an upward or downward trajectory. Your reaction time on the trajectory is essential in keeping the business running.

 

 

 

Price Point: Knowing your price point is critical in small businesses. This is where you know how much it will cost to purchase a good, and then at what point to sell it to make a profit. What is often neglected when working out a price point is the cost of overhead expenses (e.g. utilities payroll and tax).

 

Gross Margin: This is also referred to as gross profit; it reflects how much money remains after the actual cost of merchandise is deducted from the selling price. If this figure is too low, it will not be sufficient to cover your operating expenses (e.g. salaries, rent, utilities, marketing…). It may also indicate that you are not charging enough for your services or products.

 

Total Inventory: Inventory is something that has to be looked at a minimum every week. This will help you determine your sales process problems and fix them before you encounter adverse effects such as excess inventory, storage costs, potential waste, and reduced profits.

executive coach Vancouver

Your Recommended Tasks:

Knowing your numbers will give you an advantage, you will have a better understanding of your story behind the numbers, and it can lead to being one of the most crucial components of your planning for long term success:

 

 

Step 1: Start by assessing how much money you have in your business account, and then list the amounts of your business credit card, line of credit, loans, and outstanding bills. The objective is to know how much money you have at the commencement of the third quarter and your debt load.

 

small businessStep 2: List all of your monthly expenses in two columns. One for reoccurring monthly expenditures and the other for one-off costs. This will also allow you to review reoccurring monthly costs and see if there is anything that can be cut or reduced. For every line item, ask yourself if the spend at this time is necessary. Notate the withdrawal date of the expense and from what account monthly. For your monthly reoccurring expenditures, if any are related to subscriptions or memberships, ensure you document cancellation or renewal dates to keep on top of the decision to make if continuation is required.

 

Step 3: Highlight staff member related expenses. Again, assess if each of the costs is necessary.

 

Step 4: Project revenue over the next six months, subtract the money you have right now and divide your revised monthly expenses for six months. The amount will be your runway, and it is essential to know what you have if you need it. This will also motivate you over the next six months to adjust your expenses even more and help you focus on what you need coming in.

coaching Vancouver

What do your numbers tell you about your business?

Measure everything in your business to monitor progress including revenue, expenses, and customer acquisition costs.

 

 

Need Help?

All small businesses should have advisors to help them develop, plan and execute their business strategies. If you need coaching assistance or support during this process, please reach out to me. Book a free 15-minute strategy session here.

 

I am also happy to pass on an excellent recommendation for accounting and bookkeeping services in Vancouver, my go-to for small businesses is JWL Accounting.

 

Enjoy getting to know your numbers.

 

Make it a great week,

Jenny

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