One of the strange things about being a business professional is when you take time off; you are not free from your work. Current events in the industry are still present in the news. Recruiters and trainers are reaching out to businesses. Finally, blogs and social media promotions do not write themselves. While I took a week off from work to enjoy the thanksgiving holiday, work seemed to find me in some strange ways. Today, I want to talk about your hard work in silence.
This week's big news was the FTX cryptocurrency exchange's destruction and the technology industry's continued layoffs. The cynic in me takes some satisfaction in knowing that I avoided the tragedy of losing a boatload of money in crypto. It is a smug feeling of superiority, but people lost life savings thanks to Sam Bankman-Fried and his collective group of crypto kids. The layoffs in big tech also illustrate that the technology business is maturing, so they need to concentrate on business basics instead of growth.
The drama in the industry is a natural result of the basic rules of global business. Sooner or later, a company needs to have positive cash flow and pay the banks and inverters back. It made me think about all the tough decisions business leaders need to make and how introductory psychology works against that decision-making. In her book Radical Candor, Kim Scott talks about ruinous empathy. The desire to avoid conflict and be well-liked prevents leaders from correcting processes and behaviors because they are afraid of hurting the feeling of others. In truth, problems fester until it is too last to fix them.
I blame this behavior on the culture of executive leadership. Many business leaders see their advancement based on their appearance to their superiors, so they spend plenty of time ingratiating themselves with those leaders. At the same time, they are attempting to win the loyalty of the people who work for them. It is a petri dish for ruinous empathy because you are kissing up to leadership and failing to hold your team accountable. It creates a situation where it is all fun and games until revenue declines or a customer has an issue, then all the good feelings evaporate.
Leaders need to do the unpleasant and challenging things early so that the positive experiences are more satisfying and profitable. A poor team member can poison an entire organization, so it is necessary to elevate them to a particular skill level or let them go. I hate planning meetings and coordinating team rooms, but they are required to make my team successful, so I attend. Walking peers through their duties and holding them accountable is tedious, but without that coaching, the entire enterprise will fly apart like a runaway carousel.
Doing unpleasant and hard things is why others entrust you with leadership. Before a client demo, I go through a mental calculus to determine if I have done everything possible to make the team successful. For the last few years, my anxiety has subsided, but I still want to ensure that the teams have everything they need to succeed. The hard work eventually pays off in the trust of other business members relying on the team to solve problems and deliver customer value.
The business world contains plenty of distractions. Conferences need speakers, media appearances need to happen, and there are countless opportunities to wine and dine clients. Don't let these fun parts of the business undermine the hard work necessary to generate success. Being liked is a different experience than the respect and trust of colleagues. What makes that difference is the arduous and unpleasant work each business leader must do.
Until next time.
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