A couple of weeks ago, I discussed how career shocks influenced our leadership development and prepared us to lead in a variety of different situations. It can be exhilarating and overwhelming, when you are tapped to lead a new start-up internally, or contemplating flying solo as an entrepreneur. If you are in this situation, you will find yourself consumed with many questions such as where do I start and how do I move forward quickly?
FedEx is ranked one of the top 100 best companies to work for, it has a no-layoff philosophy, offers health insurance to retirees and part-timers, and promotes from within (90% of FedEx Express managers worked their way up). Needless to say, there is a lot that we can learn from Fred Smith, CEO of Fedex who dreamed of shipping things faster. In C-Suite strategies, Fred shares some tips on how to transition from an entrepreneurial leader to a leader of a highly successful global company. These tips will help you at the outset as well:
Self-discipline – You will quickly realize that no one stands over you, orchestrating your every move. Your success will lie in your ability to quickly capitalize and act on opportunities. Romanus Wolter, aka “The Kick Start Guy,” shares four guidelines to help you take action despite the numerous competing distractions:
1. Establish an affirmative mind-set by giving yourself a reason to become more disciplined.
2. Engage yourself.
3. Start with tasks that produce immediate results.
4. Make sure your boundaries fit the real world.
Self-education – Externally what do you need to know about this business opportunity, identify what you know and look to connect with experts who can help you figure out what you don’t know. Fred’s leadership philosophy has been shaped by historical leaders such as General George Marshall. Internally, truly understand what you are doing and why, this what will keep you moving forward. Self-education is a critical step in planning phase.
Absolute determination to change, as the organization gets bigger. In the beginning, you will be the Jack or Jill of all trades and that’s normal when you’re in start up mode. According to Fred Smith, as your business or business unit starts to expand, you will need to transition from a hands-on management style to a strategist/coach, someone who manages the externalities of a big business.
Surround yourself with a talented team, empower and trust them to do a good job. It’s great if you can choose your own team, they should be comfortable with ambiguity, there is no road map, you will have to define it collectively. If you do not have control over your team composition, assess and observe, and determine how to establish a cohesive functioning team. As you select or observe your team, make sure they are not constrained in their thinking or rooted in, “there’s a certain way to do this” mentality. At all times your focus should be on managing your team to execute on ideas as well as develop infrastructure to support the team and business idea. Do not limit yourself to the notion of just one team actually helps you to bring the business to life. Lean on your personal team to celebrate the highs and support you during the lows.
Drawing on my experience of creating a couple of internal business units and starting my own coaching practice, nothing prepares you for this career shock. You will be stretched more than you think is possible, if you really take the above guidelines to heart, you will come out on the other end and no matter what the outcome you will grow exponentially as a leader.
Feel free to share your experience as well as factors that helped you to succeed when you started a new business or business unit.
Tags: C-Suite Strategies, Entrepreneurial Leadership, Leadership Development, Leadership Transitions, Self-discipline, Start-ups
