Mydlach Management Advisors, LLC

Featured News

Selling in a Recession
There is no denying that it’s tough to be a sales professional right now. Budgets are tight, companies need to maximize their return on investment and everyone is increasingly selective about how they spend their money. The real question is what are you doing to ensure that when there’s money to be spent that it’s spent with you? read more

The Fudgsicle Principle
I recommend your management team act like a Fudgsicle – that is to say, be consistent all the way through. Your management team’s behavior sets the tone for the entire corporation. So, it better be consistent, predictable and true to your core values. read more

To Navigate: Use the links below to explore different topics.

Topics

Coaching
Communication
Culture
Financial
Leadership
Performance
Recruitment
Sales
Strategic Planning
Visibility

Topic: Coaching Type: Articles

Coaching is a Contact Sport
Developing talent is critical to corporate success

The most effective business leaders are in the business of creating effective leaders. The only way any business differentiates itself is through its people. After all, innovation is born from intellect.

Considering the vast array of competitive offerings as well as operational innovations, it’s clear to see that true competitive advantage and differentiation comes from people.
Global competition forces everyone to be as efficient, cost-effective and as innovative as possible. Companies that excel at developing people and harvesting the intellectual fruits of their teams will dominate their competition.

Companies that a re not as successful at developing people and harvesting the intellectual capital on their teams will suffer the consequences. They will experience ever- increasing downward pressure on gross margins and pre-tax earnings.
Developing talent is undoubtedly a contact sport. Spotting the talent comes first, developing the talent never ends. In fact, developing talent is a deliberate and thoughtful act of creating learning opportunities which includes participation informal business education, action learning and countless collaborative learning activities. The development of talent is not something you can put on auto pilot, although many businesses and business leaders do.

Assuming you’ve got the right people on your team, develop them by appealing at the highest level of thinking possible. Teach your employees how your company makes money and loses money. Then,
translate this knowledge into helping your employees understand how their actions, both positively and/or negatively, affect their own personal earnings performance (incentive compensation included), company benefits and overall competitiveness in the marketplace with which you compete.

Characteristics of effective leadership
If you buy into the notion that the most effective business leaders are in the business of developing the leadership skills in others, then let’s look at some of the characteristics that are commonly found among effective leaders.

The effective leader…

Has a clear definition of success for the company and/or department and is able to assist individuals in establishing appropriate goals/objectives and key performance measures.
Is effective at motivating and guiding others towards achieving company, department and individual goals and objectives.
Is effective at creating an environment in which there is a deep respect for the individual, and is eager to
maximize the use of differing styles, backgrounds and experiences to achieve corporate and/or department
goals/ objectives.
Is focused on, and very effective at, consistently achieving the organization’s desired results.
Empowers others and creates an environment that is characterized by creativity and innovation.
Is effective at providing others with meaningful feedback, encouragement and learning opportunities, preparing teammates for greater future contributions.
Is effective at managing across internal boundaries with the purpose of creating highly effective teamwork and communications.
Is affective at quickly identifying problems, obstacles and opportunities addressing them with the appropriate sense of urgency. In the spirit of continuous improvement, your assignment is to evaluate your demonstrated effectiveness on a scale from 1 to 10 (1 is the lowest, and 10 is the highest) according to each of the above characteristics. Secondly, identify the area of greatest strength according to each of the above characteristics (of course we need to look at the positive side). Finally, identify the area in need of the most improvement according to each of the above characteristics. Once you have completed this exercise for yourself, if you are really bold and want the best feedback possible, ask your entire leadership team to respond to these questions for each other. I guarantee this to be an enlightening exercise and a catalyst for change in areas where change is needed. At times, it is helpful to have someone from outside of the organization to facilitate this discussion drawing insights and ensuring you get the maximize benefit from this leadership development exercise.