How A Leader’s Personality Impacts the Ability to Win

built for growth

Built for Growth

Many business books are written on how to innovate, achieve faster growth, or beat the competition. I’ve not read many that focus on the personality of the leader. But the founder’s personality has a dramatic impact on all aspects of the company culture and its potential.

That’s the core focus of Chris Kuenne and John Danner’s new book, BUILT FOR GROWTH: How Builder Personality Shapes Your Business, Your Team, and Your Ability to Win.

If entrepreneurs understand their personalities, it will help them choose the right team to enhance their strengths and manage around their weaknesses.

I recently spoke with the authors about their fascinating research into personality in this context. John Danner is a senior fellow at the University of California Berkley’s Institute for Business Innovation. A faculty member, a business adviser, and an entrepreneur, he speaks widely on topics from innovation to strategy. Chris Kuenne is a member of Princeton University’s entrepreneurship faculty, a growth capital investor, an entrepreneur, and a speaker.

 

“To win in the twenty-first century, you must empower others.” -Jack Ma

 

3 Reasons Personality is Misunderstood

Personality is one of the least understood elements of entrepreneurial and business success. Why is that still the case after decades of study and research?

We think there might be three converging reasons. First, the business world often tends to overlook introspection and reflection in its bias for action and results, so the issue of who you are can get lost in the impatient focus on what you’ve done. The “do” trumps the “who.” But as any manager or leader knows, personality does matter . . . a lot; so that action-bias has left a void in our understanding.

Second, we love icons. Movies and the media naturally latch onto a compelling storyline, a fascinating individual, and retell that one person’s experience, character and personality. But icons can quickly become stereotypes, and those stereotypes reinforce the notion that you have to be an extraordinarily exceptional person to find success as an entrepreneur. That shorthand can substitute for a deeper understanding of what’s really at play here. In other words, every entrepreneur doesn’t have to be a Steve Jobs or Elon Musk to be successful; our research discovered there are four distinct personalities of successful entrepreneurs. And there are likely millions of individuals the world over who share those same personality patterns.

Third, although most people are intensely curious about who they are and how they’re wired, most personality assessments are ill-suited to the task of cracking the code of successful business building. Many address very broad issues, e.g., am I an extrovert or introvert, a Type A or Type B, etc. Or they’re designed to answer other questions in personal domains, like who might be a good match for me, what music might I like, etc.

Some broad-gauge tools can help people decide whether they might be cut out for entrepreneurship generally, e.g., are they comfortable with taking risks or working for themselves? But those resources don’t address the fundamental question: what are the key personality characteristics of the women and men who actually succeed in building lasting businesses of impressive scale? What makes those individuals tick, and am I like any of them?

And context is key here; people want to know about personalities in action in particular settings. That’s why we concentrated on examining personalities in the context of successful business ventures and used a patented Personality-ClusteringTM methodology that has proven its effectiveness in decoding specific customer behavior in hundreds of markets around the world.

But our research is just a first step in understanding the central mystery of the who of successful entrepreneurship. We invite others to build upon our findings as we refine our own work. After all, entrepreneurship is vital to economic growth and opportunity globally. We welcome others’ insights into this complicated and essential domain of human endeavor.

 

“Teams need captains, and vice versa-if you want to get things done.” -Mark Coopersmith

 

4 Types of Builder Personalities

Briefly walk through the four types of Builder personalities.

The Driver: Relentless, Commercially Focused, and Highly Confident – Drivers can’t help themselves. They have to become builders of business or social ventures of their own as a means of self-validation. Entrepreneurship is almost hardwired into their very identity. They are supremely confident individuals, fixated on their products, relentless in pursuing commercial success based on their uncanny anticipation of what markets and customers are looking for. Drivers – like Steve Jobs or Elon Musk – often don’t last long as employees in other people’s organizations. They eschew rules and bureaucracy, seeing them as tools to focus the average person, yet often confine the truly gifted, independent-thinking actor. These builders are willing to do whatever it takes to realize the commercial success inherent in what they believe is their unbounded potential, in fact their destiny.

A Leader’s Role in Achieving Excellence in Execution

Leadership execution
This is a guest post by Robin Speculand, author of Excellence in Execution: How to Implement Your Strategy. Robin is the founder and CEO of Bridges Business Consultancy and creator of the Implementation Hub.

Don’t Lead by Example

To guide an organization through the execution of its strategy, leaders… don’t lead by example.

In strategy execution, leaders are responsible for driving the strategy forward and championing the direction the organization is heading. This involves, for example, reviewing progress, coaching people, resolving issues, and ensuring the right outcomes are being achieved. Leaders don’t lead by example as they don’t implement strategy; their employees do.

Before you even start your strategy execution, the odds are stacked against you as more fail than succeed. I have seen from my seventeen years consulting in this field that leaders are guilty of delegating the execution and not paying adequate attention to it. When leaders do this, their people also stop paying attention to it. McKinsey & Company stated that, “Half of all efforts to transform organization performance fail either because leaders don’t act as role models for change or because people in the organization defend the status quo.”

 

Show Confidence in the Strategy

If leaders perceive execution as an interruption to the business, they will not drive and champion it.

Anything short of embracing a new strategy and its execution by leaders can be seen by employees as a lack of confidence in the strategy itself. That feeling will spread throughout the organization.

  • If you only apply lip service to the execution without championing it, employees will sense the lack of commitment and not step up; the execution will fail.
  • If you don’t create the time to oversee the implementation journey, change the agenda and explain why the organization needs to transform, then employees will sense the lack of commitment and not step up; the execution will fail.
  • If you don’t set the strategy and create the budget to allocate required funding, employees will sense the lack of commitment and not step up; the execution will fail.

 

Booz and Co. Survey: 53% don’t believe their company’s strategy will lead to success.

 

A key question to consider is:What are you willing to do to execute your organization’s strategy?”

In contrast, strategy execution progresses when leaders support their comments with time and actions. Because only so much can go on a leader’s radar, he or she has to carefully select which actions will best drive the execution forward and where to invest their time.

Booz & Company surveyed executives from around the world on the results of their organizations’ strategic initiatives. Given more than 2,350 responses, the findings suggest a high degree of disillusionment, including:

  • Two-thirds (67%) say their company’s capabilities do not fully support the company’s own strategy and the way it creates value in the market.
  • Only one in five executives (21%) thinks the company has a “right to win” in all the markets it competes in.
  • Most of the respondents (53%) don’t believe their company’s strategy would lead to success.

If leaders don’t believe in the strategy, they will never be authentic and sincere in executing it.

 

PWC Survey: 55% of CEO’s state lack of trust is a major threat to growth.

 

Demonstrate Increased Commitment

How to Achieve Stadium Status

stadium filled

Take Your Business to the Big Time

Every coach, actor, athlete and performer wants to achieve stadium status. And every brand covets the opportunity to be at the pinnacle of public awareness.

John Brubaker knows the strategies behind the biggest names who have risen to the top of the game. He shares the tactics and strategies you can employ to help your own business soar. John is a consultant, speaker, and author of numerous books, who teaches how you can turbocharge your performance. His latest book, Stadium Status: Taking Your Business to the BIG TIME, immediately caught my attention. I recently asked John to share more of his observations.

 

“You aren’t wealthy until you have something that money can’t buy.” –Garth Brooks

 

What is stadium status?

Stadium Status: To be a big enough star that you could fill an entire stadium when performing a concert, you know you’re big once you’ve achieved Stadium Status. —UrbanDictionary.com

That scholarly journal, “Urban Dictionary,” defines stadium status very succinctly: essentially, it means that if you’ve achieved stadium status, you are a big star. Stadium status is, on some level, a goal that lives within every artist, entertainer, and entrepreneur.

 

“Don’t compare your preseason to someone else’s postseason.” –Coach Morgan Randall

 

Lessons from Garth

Toward the back of the book, you talk about Garth Brooks. What can non-country music stars learn from his performances?

Brooks is so dialed in to his customer’s perspective that, in every arena he performs in, the morning of the performance he sits up in the back row or in the obstructed-view seat that is the worst in the house. He does this to better understand how his customers see him and how well they see him. The back row customers tend to be some of the most loyal fans at any concert. These are folks who have probably pinched pennies and saved up for months to purchase his tickets.

To give a few special fans in the back row a true front row experience, at the beginning of his shows Brooks sends security guards to the “nose bleed” seats in the back row. Arena security asks to see the customers’ tickets and then explains to them they are sitting in the wrong seats. Right when they begin to get confused or upset because their seats can’t get any worse, they’re told that they’ll be escorted to the correct seats Mr. Brooks has waiting for them . . . in the front row. I saw him do this in the early nineties in Pittsburgh’s Mellon Arena and again in 1999. And he continues to surprise and delight fans today.

Everyone can benefit from putting themselves in their customers shoes. Secret shop your own store, call your 800 number and see how long you get put on hold. Email or reach out to customer service on social media to experience how your customers experience your business. I promise you that you’ll get an education money can’t buy.

 

“In any team sport, the best teams have consistency and chemistry.” –Roger Staubach

 

What’s the best way to use affirmations?

How Women Entrepreneurs Can Think Bigger

female entrepreneur

Go All-In

 

Are you thinking big enough?

Do you have what it takes?

Are you ready to go ALL-IN?

 

Stephanie Breedlove is the Co-Founder of Care.com HomePay and author of All In: How Women Entrepreneurs Can Think Bigger, Build Sustainable Businesses, and Change the World.

I recently caught up with Stephanie to talk about the lessons she has learned from her experiences as an entrepreneur. These lessons and her advice apply to all entrepreneurs, but her new book includes specific advice for women.

 

Called to Entrepreneurship

How do you know if you’re called to be an entrepreneur?

In choosing entrepreneurship, you are required to take on risk, barriers, financial strain, and uncertainty in virtually every area of life – from the possibility of failure, to the unknown of the size of success if you make it, to what your career will look like as you navigate the journey. In a nutshell, it’s often bring-ya-to-your-knees work and is not sexy, contrary to what the media may lead you to believe. Yes, there is potential upside in entrepreneurship, but who would logically sign on for the guaranteed difficulties if not called?

So how do you know if you are called? One of the beauties of entrepreneurship is that there is no standard or template, so I think most of our callings are as unique as a fingerprint. However, I do believe we have a set of common ideals and a way of seeing the world that builds a foundation common to most entrepreneurs. Entrepreneurship is very hot and trendy today, but it is not a path that will be successful or enjoyable if it is not where your best talents live. I had a thriving corporate career prior to taking the leap into entrepreneurship, with the status and ego that accompany the corporate position. The leap into entrepreneurship was very humbling, yet I couldn’t have been more in my element and comfortable in my own skin – I knew it was where I belonged. Here’s my list to help you know if you are being called, or not.

 

How to Know if You Have the Call

You might be called to entrepreneurship if…

  1. You are going to a new endeavor, not running from your current situation.
  2. You have an idea that will create value.
  3. You have an idea that will grow and potentially create wealth.
  4. You believe your authentic way of working, building or delivering is ahead of its time and of greater value than what is currently available on the market.
  5. You feel being a Jack or Jill of All Trades is a valuable skill, and you enjoy tackling new responsibilities with which you have no experience.
  6. You think broadly and can sew all aspects of a business together to create overarching success.
  7. You have smart but blind optimism in the long-term potential of your idea – enough to thrive in the lean years.
  8. You are excited about working harder than you have ever worked, even if it means being without a paycheck (for a while).

You are not being called to entrepreneurship if…

How Your Business Will Profit from Innovative Collaboration

Drive Strategic Collaboration

Imagine a world where your customers want your organization to succeed. Where your employees are personally committed to your company’s success. Where your organization is not focused only on its own results, but on a collaborative effort that spans a community and beyond.

David Nour’s new book, CO-CREATE: How Your Business Will Profit from Innovative and Strategic Collaboration, takes these dreams on as he explores ways to drive strategy and innovation. His new work challenges us to think about relationships in a completely different way. I recently asked him about his work and new book.

 

“Your brand identity is beyond your control.” -David Nour

 

Co-creation. Share with our audience what it is and why it’s important.

It means collaborating with your most valuable business relationships to transform your business or revenue model. It can drive how you iterate, innovate or disrupt your market and in the process, evolve far beyond anything you could do alone.

 

“Introspection leads to right action.” -David Nour

 

You start the book by saying that, “Introspection leads to right action.” What’s the best way to do this?

Real introspection takes three critical elements:

  1. Think Time – Unfortunately, given the hectic pace most of us work these days, we don’t get enough quality think time to set the minutia of the day aside and really consider our relevant strengths and strategic relationships, as well as personal or professional growth opportunities.
  2. An Inner Circle – We need to surround ourselves with fewer, but more authentic and impactful, business relationships. Most of us could dramatically benefit from fewer partnerships and alliances and more thought partners who will tell us what we need to hear.
  3. Leading Drivers – We can’t raise the bar on our intellect, performance, execution and results… if we don’t measure leading drivers of our progress—not lagging indicators of where we’ve been, but predictive insights toward where we’re headed. You can’t win a race looking in the rear view mirror. Focus your energies on the road ahead.

 

Stay In Tune With Your Customers