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Just Because You Attended The Board Meeting Doesn’t Mean Your Job Is Done

One of the myths of a high-performance director is that the time you spend in the boardroom is the beginning and end of your role as a director.

Carl Bates

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We call this ‘myopic board syndrome’: You arrive, drink great coffee (hopefully), attend the meeting and then leave — job done. For any type of director this does not go far enough to honour your responsibility of care, skill and diligence, and, in a private company board, the microscope lens focused on your performance greatly magnifies any lack of preparation.

24/7 Selfless Service

Being a director is a position of 24/7 selfless service. You are required, legally, to put the best interests of the company first and foremost, always, irrespective of whether you are a shareholder. Sometimes, directors must engage directly with stakeholders and the team to demonstrate leadership in a time of crisis.

Just because it happened outside the boardroom does not mean you are not involved or indeed not responsible. After all, responsibility for the quality of your decision-making process lives far beyond the board meeting.

Related: Meetovation: The New Approach To Meetings

In a private company board, especially in a smaller board, this servant leadership gets put to the test. A big differentiator between a public and private company board is that, in a private company, the board process is embarked upon by choice.

In such cases, usually the founder, chief executive or shareholder-managers understand what a high-performance board can do for company growth and shareholder returns. If you sit as a director on such a board, your performance and contribution become a ‘locus of focus’ and you are expected to deliver tangible value.

A Stitch in Time Saves Nine

time-management

One of the best ways that a director can fulfil this responsibility and engage in the board journey proactively is through preparation for the board meeting.

There is limited time in a board meeting and there is always a lot to get done. A director who arrives for a board meeting ill-prepared is one who has already derailed the board from maximising its value.

And, of course, preparation is not a one-way street. Executives are also required to support that preparation with quality board papers circulated to the board with sufficient time to support adequate preparation.

Best practice advises that an absolute minimum of five working days prior to the board meeting is required. In reality, we know this to be one of the greatest challenges, by far, for a private company executive team.

Some of our client executive directors have even submitted their board papers while the meeting was in session. Can you imagine how that would impact board outcomes?

By way of demonstrating, let me share an example with you from our Sirdar Applied Directorship Programme. A core part of the learning journey is the simulated board process, where in each session the pre-allocated teams or boards conduct a board meeting and compete with the other boards for market share and company growth.

Related: How To Create A Focused Board

When minutes impact a mile

One of the boards in one programme is a habitual non-preparer: Most of the board members arrive without preparing or having only read the papers briefly the night before or on the morning of
the meeting.

The impact on board outcomes is massive and blatantly clear. The board members get lost in irrelevant discussions, debates take too long and the key drivers of growth for the company are forgotten as the board keeps rehashing the basics.

After every board meeting you can see the downward spiral of the simulated company’s financial performance.

Invest in your preparation

My advice to any director, executive or non-executive, is to invest heavily in your preparation. Sit with those papers and delve into the real challenges that the company faces.

Be exceptionally critical of your own performance as a director and dig deep on how you can add more value in the upcoming board meeting.

Be brave and tackle the glaring obstacles to growth, yet do so with emotional intelligence and a one-team mindset.

To adapt a brilliant Zen concept: Before the board meeting, chop wood; after the board meeting, chop wood.

Carl Bates is a global entrepreneur, speaker, author, mentor and director. Currently based in South Africa, he is a dynamic entrepreneur from New Zealand who guides small to medium businesses to achieve Extreme Business Success.

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Leading

How To Make Speedy Decisions As A Leader

Whom of us has not been held prisoner by our own devices of procrastination and fear? Whom has not used delaying tactics purely to play for time only to learn the true practical meaning of Shakespeares words: “I wasted time and now time doth waste me”?

Dirk Coetsee

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“Trusting one another, however can never mean trusting with the lip and mistrusting in the heart.” – Mahatma Gandhi


“Self-trust is the first secret of success” – Ralph Waldo Emmerson

Whom of us has not been held prisoner by our own devices of procrastination and fear? Whom has not used delaying tactics purely to play for time only to learn the true practical meaning of Shakespeares words: “I wasted time and now time doth waste me”?

Rapid decision-making

Harvard research has identified amongst other key traits of the most successful CEOs’ of Fortune 500 companies the ability to make decisions quickly and act on them at a rapid speed albeit with the inherent acknowledgement that they might get it wrong forty percent of the time.

Related: 7 Strategies For Development As An Entrepreneur

Why is speedy decision making and a rapid pace of execution so critical? Top leaders know that making quick decisions combined with swift execution creates a much better chance of success as opposed to very slow and bureaucratic verdicts underpinned by little or no action.

When there is a high level of distrust amongst the stakeholders in any entrepreneurial venture literally everything slows down as negative arguments ensue and takes up an enormous amount of precious time. Forced action underpinned by distrust loses quality and speed and can potentially bring a business to its knees.

“The speed of trust” is therefore an extremely valuable principle that all Leaders should live by, that is if they wish to serve a higher purpose than themselves and others. Those Leaders whom have developed a high level of self-trust and have earned the trust of their team members have put themselves in the very advantageous position of being empowered to move towards their vision at a rapid pace through quickfire decisions positively multiplied by confident and competent execution.

“The speed of trust” does not mean that decisions are made without careful consideration and stakeholder input putting the level of quality of execution at imminent risk. It simply means that the decision-making process is quicker than most as mistrust does not cast unnecessary shadows of doubt over the intentions and ambitions of all the stakeholders.

A Leader or Leaders whom has fostered self-trust within themselves will not go through lengthy spells of procrastination that those whom lack self -awareness and suffer from severe self- doubt has to go through.

How do I execute at the speed of trust?

How do I practically bring the principle of the “speed of trust” to fruition within my business? Firstly, ensure that this critical principal is applied throughout all business processes which starts with hiring trustworthy people and by working those out of the business whom cannot be trusted.  Secondly, as  a Leader your actions and words echo throughout every aspect of the business therefore do what you say you are going to do. Admit to your mistakes and fix them.

Thirdly be authentic in your pursuit of the vision of your business. One of the possible ways to achieve that is by being a visible and living example of the business values that you advocate as a leader.

Related: Sales Leadership: The New Frontier

Lastly in order for you to be trusted as a leader you must first show trust in others. Trust others by giving them more responsibility and verbalise your high level of trust in your team members. Passionately speak about this principle and its positive fruits at every opportunity. Make the practical display of this principle by employees or any other stakeholders known to all stakeholders and be lavish with your praise when anyone is willing to earn the trust of other team members.

A very good example of this principle in action was embodied by the Supreme Russian commander, Alexander Vasilyevich Suvorov whom never lost a battle and was respected by both his men and his enemies. He earned the trust of his men by being amongst them as often as he could, by sharing their hardships and by offering them the most authentic and quality military training known to man within that period of history.

Suvorov was a humble student of warfare and documented every detail of his learning experiences which included setbacks that he faced. He observed the morale of his men first hand and ensured that he inspired them not only through his inspiring speeches but by being a living example of discipline and bravery.

I will leave the reader with an important question to ponder, one that has echoed throughout history: Do you trust enough to be trusted?

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What Kind Of Leader Are You?

Your effectiveness in scaling your business starts with the kind of leader you are. Here’s how you can build yourself up into a leader others will follow.

Nicholas Haralambous

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When you are in start-up mode it’s tough to take a step back and think about the kind of leader you are or want to be. Most of the time you’re fighting to keep your business alive, never mind think about how you lead.

This is especially challenging when it’s faster and more efficient to just step up and do things yourself. It’s easier for you to make the decisions, do the work, check the work, follow up on the work, etc. However, it’s this situation that prevents young companies from scaling to the next level.

Ask More Questions

I work really hard every day to be quieter. Sometimes I succeed and sometimes I fail so dismally that I actually do more damage than good. You see, I like to talk. I like to hear other people talk and I like to bash around ideas until they become something bigger, something better and something that can move from idea into action.

Related: Your Leadership Journey Starts Now… And Go!

Coupled with liking to talk, I also like being right. Who doesn’t? Add onto these two things the fact that I like to read and research and then throw in a teeny bit of ego or pride and it’s a recipe for leadership disaster.

If I am the most well-read, loudest and most opinionated person in a meeting then all that happens is that I end up pitching an idea, getting everyone to agree with this idea and then assigning the work on the idea to become a reality. Basically, I am working with, for and amongst myself. It’s an echo chamber that leads to bad ideas surviving and an unhappy team leaving.

The Collective Is More Intelligent Than the Individual

As a leader and founder, you probably feel like you are the person with the best understanding of the problem you are trying to solve and the best person to solve the problem. This can lead to a dictatorial approach to leadership, team inclusion and problem solving. You have an idea, you tell your team and they do what you tell them.

If this is how you do it then I have to ask you a simple question: Why did you hire smart people? Just so you could tell them what to do? If that’s the case rather hire capable but cheap people, not the best.

Your best people are there to help you scale your business beyond your own thinking and time. There are a set amount of hours in the day. There are only so many emails you can answer in your day.

A good example in my business is customer support. We pride ourselves in our impeccable customer service online and offline. I can’t physically answer every question posed by customers but I can hire incredible colleagues, entrust them with my vision and views on our customers and then trust them to go out and use their good judgement.

Work With The Best

Here’s the kicker to being a good leader: You need to work with the best people.

This is not something I say as a passing statement. I want you to stop reading right now and think about the ten people you interact with at your company every day. Are they the best people you could be working with? If not, why not? How do you find the best people and bring them into your business? Go and do that.

Related: You’re The Boss, So Be The Boss

It’s important to work with the best for two very simple reasons.

Working with the best people pushes you to be better. If you are literally the smartest person in the room in every aspect of your business it means that you are surrounded by subpar players and you are not learning anything. The people around you are meant to educate you and push your business into places you didn’t even know were there.

Second, working with the best people attracts other incredible people. If you have a business full of average team members, can you guess what kind of people they pull towards your business? More average or less than average people. Why? Because average people don’t want to be surrounded by incredible people. If they are, they look worse and not better.

It’s incredibly difficult to be a good leader all of the time. In fact, it’s close to impossible. What you can do is try to be a leader who communicates, learns and grows with your team in an open manner.

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All The Business Wisdom You Need From 4 Famous Entrepreneurs

Combine the knowledge of the greatest entrepreneurs with your own hard earned lessons.

Brian Hamilton

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There’s a lot of deification of entrepreneur “personalities.” The truth is that a few entrepreneurs, in my opinion, are probably luckier than good. But, some of the praise and deification is warranted. There have been some fantastic business leaders in this country, and one can learn a ton from studying them. Below, I’ve compiled a list of the four entrepreneurs who have taught me the most over the years.

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