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Forging Ahead: Reflecting on 2023, Embracing 2024

Let’s start by reviewing our past year’s wins and challenges.

PROFESSIONAL AND PERSONAL ACHIEVEMENTS

  • What three things have you done well professionally and personally this year?

CHALLENGES AND LEARNINGS

  • Reflecting on the year, what areas or approaches did not work for you in 2023?

PROGRESS ON GOALS

  • If you set specific goals for the year, how would you describe your progress toward achieving them?

TIME MANAGEMENT AND PRIORITIES

  • In 2023, what activities or habits consumed most of your time and didn’t contribute significantly to your overall productivity?

PERSONAL ENJOYMENT

  • What activities or aspects of your work bring you the most joy and fulfillment?

SKILL DEVELOPMENT GOALS FOR 2024

  • Regarding professional growth, what are two specific skill areas you would like to focus on developing in the coming year?

Refining Your Path to Success: A Four-Step Blueprint for Defining Your Key Areas of Focus in 2024

Step 1: Equip Yourself

  • Start by arming yourself with a pad of sticky notes.
  • Find a quiet place to be free of disruptions and ensure you have a clean, organized surface area to work on.

Step 2: Set Time for Thoughtful Reflection

  • Set aside a dedicated 20-minute timeframe for contemplation, allowing your mind to explore professional and personal aspirations for 2024.
  • Capture each idea on a separate sticky note, placing them visibly in front of you.
  • Generate a comprehensive list of ideas in the 20-minute timeframe.

Step 3: Transform Thoughts into Areas of Focus

  • The next step is to organize your ideas into thematic categories or focused buckets.
  • Once identified, prioritize these buckets based on their significance. Consider the potential impact on both your professional and personal spheres, adhering to the 80/20 rule – focus on the top 20% of activities yielding the most significant returns.

Step 4: Curate Your Top Priorities and Formulate SMARTER Goals

  • Shortlist your priorities to your top 7-10, transforming them into well-defined professional and personal goals.
  • Ensure your goals are S.M.A.R.T.E.R – specific, measurable, actionable, risky, time-keyed, exciting, and relevant.
  • For each defined goal, identify the first three actions you will take and block off time in your schedule to action your tasks.
  • This strategic approach sets the stage for a purposeful and successful 2024.

JRC December 2023 Newsletter - Jenny Reilly Consulting - Executive Coach

JRC December 2023 Newsletter - Jenny Reilly Consulting - Executive Coach

Reach out today to learn more about how Jenny Reilly Consulting can support you in strengthening your negotiation skills. You can book a complimentary 30-minute  consultation.  Or, please email  askme@jennyreilly.com to coordinate a convenient consultation time.

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Key Negotiation Skills and Strategies For Successful Leadership

In leadership, negotiation skills go beyond being a mere asset; they form the very cornerstone of success. Whether your aim is to secure crucial resources for your team or adeptly navigate conflicts, the ability to negotiate effectively can distinguish between leadership that merely manages and leadership that excels.

Let’s explore key negotiation strategies and how honing these skills can elevate your leadership effectiveness.

1. COLLABORATIVE PROBLEM-SOLVING:

Cultivate and communicate a clear and inspiring vision to help guide and motivate your team. Be transparent in the issues and challenges you are focused on solving together.

Leadership Impact:

  • Strengthening team cohesion.
  • Fostering a culture of collaboration and innovation.
  • Building trust and rapport with team members.

2. ACTIVE LISTENING:

One of the most underestimated negotiation skills is the art of active listening. Leaders who listen attentively not only gain a deeper understanding of others’ perspectives, but also convey respect and empathy. This skill is particularly crucial in resolving conflicts where acknowledging different viewpoints lays the foundation for constructive dialogue.

Leadership Impact:

  • Enhancing communication and understanding within the team.
  • Mitigating conflicts through empathetic engagement.
  • Demonstrating genuine interest in team members’ concerns.

“Embrace the power of listening with the intent to understand, not just to respond.”

Jenny Reilly

3. FLEXIBILITY AND ADAPTABILITY:

Adaptable leaders excel in negotiations as they can navigate unexpected twists and turns. Flexibility allows leaders to adjust strategies based on evolving circumstances, turning challenges into opportunities. This skill is especially valuable when negotiating in rapidly changing environments.

Leadership Impact:

  • Successfully navigating complex and dynamic situations.
  • Inspiring confidence by demonstrating adaptability.
  • Capitalizing on unforeseen opportunities.

4. STRATEGIC PLANNING:

Negotiation, like any strategic endeavor, benefits from meticulous planning. Leaders who invest time in understanding their objectives, anticipating potential obstacles, and crafting well-thought-out strategies are better positioned to achieve successful outcomes. Strategic planning also instills confidence and competence that are vital components of effective leadership.

Negotiation Strategies - Jenny Reilly Consulting, Vancouver Executive Coach

Leadership Impact:

  • Achieving targeted goals with precision.
  • Building a reputation for strategic foresight.
  • Inspiring confidence in team members through clear planning.

5. EMOTIONAL INTELLIGENCE:

Leaders with high emotional intelligence navigate negotiations with finesse. Understanding and managing emotions, both their own and others’, allow leaders to create an environment conducive to open communication. Leaders who can empathize and connect on an emotional level often find it easier to influence and motivate their teams.

Leadership Impact:

  • Cultivating a positive and collaborative culture.
  • Inspiring loyalty and commitment from team members.
  • Enhancing overall team well-being and satisfaction.

6. ASSERTIVENESS AND CONFIDENCE:

Confidence is contagious, and assertiveness is a key negotiation skill that reinforces it. Leaders who can assert their needs and preferences, while respecting others’ viewpoints, command respect. This balance of assertiveness and respect forms the bedrock of influential leadership.

Leadership Impact:

  • Fostering a culture of accountability and decisiveness.
  • Gaining the respect and trust of team members.
  • Encouraging open communication and idea-sharing.

CONCLUSION:

In leadership, negotiation mastery isn’t just a skill; it’s the art of turning challenges into opportunities and conflicts into collaborations. Honing negotiation skills is not just a professional development goal but a strategic imperative for leaders. Leaders can navigate negotiations with finesse by embracing collaborative problem-solving, active listening, flexibility, strategic planning, emotional intelligence, and assertiveness. These skills secure favourable outcomes and contribute to building strong, cohesive teams and establishing a leadership legacy characterized by effectiveness and influence. As you navigate the complexities of leadership, remember: The true measure of a leader lies not just in what they achieve, but in how they inspire others to achieve together.

Reach out today to learn more about how Jenny Reilly Consulting can support you in strengthening your negotiation skills. You can book a complimentary 30-minute  consultation.  Or, please email  askme@jennyreilly.com to coordinate a convenient consultation time.

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18 Ways To Unlock Powerful Leadership Skills

As leaders, we have the responsibility to guide and inspire. Here are 18 powerful leadership skills that will help you navigate the ever-changing leadership landscape successfully.

1. Ask Challenging Questions

Ask questions that ignite innovation and drive change. Challenge the status quo by asking tough questions and seeking connections between seemingly unrelated concepts. Innovation often stems from these connections.

2. Balance Work And Life

Leaders often find themselves burning the candle at both ends to stay on top of professional and personal expectations. It is crucial to maintain a healthy work-life balance and prioritize family and self-care time, as it sets an example of the value you have of your team members doing the same as well.

3. Build Trust Through Transparency

Transparency is the bedrock of trust in leadership, unlock the power of trust through open and honest communication. Share your successes and, just as importantly, your failures with your team. This vulnerability not only humanizes you but also fosters an environment where everyone feels safe to take calculated risks and learn from their experiences.

Leadership Skills - Jenny Reilly Consulting, Vancouver Executive Coaching4. Celebrate Achievements And Win

Don’t forget to celebrate achievements, both big and small. Recognize the hard work and dedication of your team members and acknowledge them publicly. Celebrations create a positive and motivating work environment.

5. Challenge The Status Quo

Don’t let outdated policies stifle innovation. Regularly evaluate and update policies as needed. Managing unconventionally and with confidence allows for adaptation and growth.

6. The Art Of Precision And Follow-Up

Leaders who shine exhibit unwavering commitment, meticulous attention to detail, and prompt follow-up. These traits not only set you apart but also inspire trust and confidence among your colleagues and team members.

7. Uncompromising Quality

Pledge to deliver nothing less than exceptional quality in all you do. Luck may play a role, but true success comes from a dedicated commitment to quality. It’s not just about chance; it’s about consistently delivering excellence in everything you do.

8. Tech Savvy Leadership

Leaders must embrace technology and adapt swiftly to stay ahead in the digital age. Stay updated on emerging trends and technologies that can enhance your organization’s efficiency and competitiveness. Be open to innovation and encourage your team to explore new tools and methodologies.

9. Your Presence Matters

Master the art of making a lasting impression through your impression and demeanor. Your appearance and posture make a significant first impression. Regardless of your industry, presenting yourself with care demonstrates your commitment to what you do and where you work. Stand tall (yes, as a vertically challenged individual standing at 5 foot 2 inches on a good day, I practice what I preach), make an effort about your physical appearance, keep your emotions in check, and always be ready to think on your feet.

10. Know Your Customers/Clients

The 80/20 rule reminds us to focus on the vital few customers who make a difference in your organization. Get to know them intimately, ask questions, and show genuine interest in their needs. It’s a strategy that pays dividends.

11. Lead By Example

Set the example that inspires others to follow. Your actions speak louder than words, and our determination will inspire those around you. What kind of leader do you want to be? Now, be that leader and demonstrate the traits you identify as key.

Leadership Skills - Jenny Reilly Consulting, Vancouver Executive Coaching12. Optimize Your Workspace

Transform your environment for peak productivity and creativity. An organized office environment boosts efficiency and creativity. When you walk into an orderly space, you’ll find it easier to maintain focus and productivity.

13. Delegation Mastery

Empower your team by mastering the art of delegation. Delegation is a hallmark of effective management. Empower your team by delegating tasks wisely, building their skills, and allowing them to advance. Remember, the ability to delegate is the trait of a good leader. It enables you to build people’s skills and allows them to advance.

14. The Power Of Observation

Embrace your leadership prowess through the art of keen observation. As leaders, our ability to read people and situations is paramount. By actively listening, observing, and being mindful of our surroundings, we can gain a profound understanding of the needs and expectations of our clients, colleagues, and staff. Remember, talking less can speak volumes.

15. Consistent Action For Success

“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.” — Dwayne Johnson

Unlock your potential through persistent, unwavering commitment to your goals. In the pursuit of large or complex projects, persistence is key. Every step you take brings you closer to your ultimate goal. Keep taking those steps, one day at a time, and you’ll see its difference. Persistence and continuous action will get you to your end goal more efficiently and faster.

16. Feedback Fuels Growth

Regular feedback through one-on-ones and team meetings is invaluable and can be transformative in nurturing growth. Understanding the challenges of your team members (professionally and personally), showing empathy and support and creating a workplace where mental health and well-being are a priority will increase engagement and result in retention.

17. Humility Is A Strength

Great leaders aren’t afraid to admit when they ‘don’t know,’ ‘need help,’ or were ‘wrong.’ Embrace situations with humility – a tool for growth and collaboration that not only strengthens your leadership but also fosters a culture of openness within your team.

18. Time And Organizational Management Mastery

Efficiently manage time and tasks to supercharge your productivity and effectiveness. Effective leaders manage their time and organize their tasks efficiently. Share your preferred time and organizational management systems with your team to enhance productivity.

“It takes as much energy to wish as it does to plan.” – Eleanor Roosevelt

 

In our fast-paced working environments, these insights and reminders will help you stay ahead of the curve. As you continue your leadership journey, remember that the best leaders are always learning and evolving and are committed to growth, both personally and professionally.

If you want more information or support in strengthening your leadership skills,  you can book a complimentary 30-minute  consultation to find out how Jenny Reilly Consulting can help you. Or, please email askme@jennyreilly.com to coordinate a convenient consultation time.

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Tactics to Help You in Periods of Professional Transitions

Do you find yourself answering “YES” to any of the questions below?

  • Are you making or thinking about a career transition this year?
  • Are you in the process of turning your business, department, or team around?
  • Have you recently been promoted and struggling to determine what to focus on first?
  • Are you considering a move into a different area of the business or a geographical move in your job?
  • Are you in the position where you now lead some of your former peers?

Your professional life is made up of one transition after another. All professional transitions provides you with the ability to shine, falter or fail. Shine, and you will advance. Falter, and you may lose the credibility and trust of your colleagues. Fail, and you may not recover if you don’t have the right attitude or outlook to learn from your mistakes and move forward.

‘What got you here won’t get you there.’
~ Marshall Goldsmith

 Steps to Help During Professional Transitions

  1. Determine what you need to learn – fast. How does the company, unit or team operate? Who has influence and why? What internal and external alliances can help support you in your role?
  2. Identify your ‘A’ priorities. Along with A priorities, integrate changes that need to be made in the structure and processes to increase efficiency, productivity and the triple bottom line.
  3. Outline your vision, goals and strategic intent in the position. Be communicative and transparent.
  4. Build your team. If you are taking over leading a team, evaluate your people. Determine if they are in the right seat, need development or are not a good fit.
  5. Focus on early wins. Identify the most pressing weaknesses and make the necessary changes to turn those around. This will help you build credibility in your position.

‘ You only know what you know.’
~ Loretta Swit

If you have any questions about professional transitions or want to learn more on the powerful benefits of executive coaching to elevate your success, please contact us or reach out directly to jenny@jennyreilly.com and book a complimentary 30-minute strategy session.

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YEAR END BUDGETING 2022

2022 in Review

As the year approaches a wrap, it’s time to highlight your achievements and position yourself for 2023. Review and report on topics like your organization’s accomplishments, value creation, budgets, financial ratios, your competitor analysis, and the year ahead. Take time to create a full-year timeline with strategic projections and goals. Use the 2022 Annual Report Components infographic to serve as a guide for elements to include.

Annual Report Infographic - Jenny Reilly Consulting - Executive Coaching

 

“A budget is more than just a series of numbers on a page; it is an embodiment of our values.” – Barack Obama 

Know your numbers

Over this quarter, a primary client focus has been on analyzing financial reports and data to aid the decision-making required for 2023 planning. Understanding the budgeting process is crucial in evaluating opportunities and risks.

Understanding your numbers allows for more strategic decision-making. Your numbers can provide:

  • comparability,
  • verifiability, and
  • understandability

of the next best steps to take in your company.

As a leader, you are expected to have a thorough understanding of your numbers, prepare forward-looking financial reports, set financial targets, determine the usage of resources, and evaluate the costs and benefits of each option.

Business budgets help leaders run a successful business. A budget provides the opportunity to assess the actual budget against what was forecasted and planned.

Steps to take in preparing for 2023

  1. Before developing your budget, it is normal practice to have a strategy session that will review relevant economic factors, sector issues/constraints/ opportunities, and management plans. Develop or review your 2023 budget (that should accommodate your short-term plans, normally one year in duration) and ensure each of your strategic objectives is related to your budget.
  2. Your budget should address each of your strategic initiatives, including cash and payments, sales volumes and revenues, detailed inventories, labour, and production requirements.
  3. Break your annual budget down into monthly budgets that will assist in planning and communication to the team.
  4. If you are working on a unit or department budget, ensure you understand how the budgeting process interlinks with the various budgets in the business.

Can you answer the following?

  • What is your mission, vision, short- and long-term strategic objectives?
  • Have you recently conducted a position analysis of your organization?
  • Who are your current competitors?
  • Do you have a comprehensive forecasting and budgeting process? Can you explain when and how this process is performed?
  • How often do you review your annual budget, identify variances between your forecasted and actual performance and update as strategic initiatives pivot and change?

Understanding your budget will enable you to:

  • identify short term problems
  • promote forward-thinking
  • help in the coordination of units within a business
  • communicate budget guidelines
  • motivate your employees to promote better performance
  • monitor performance relevant to the budget
  • implement a system of control, levels of responsibility, and authorization

If you’re a business owner, entrepreneur, or c-suite executive and have any questions about this month’s topics, or feel this resonates with you and you need executive support to project your budget successfully into 2023, please contact us, or reach out directly to jenny@jennyreilly.com and book a complimentary 30-minute strategy session.