Can't Take My Eyes Off of You

Tenacious resolve.  Boy, it can be annoying.  Once or twice a week, I am on a train.  When I hop a train to New York City, I find a person or two with this tenacity around seating.  These people would sooner cut you than have you sit next to them.  They put their briefcase or purse on the seat next to them.  Fearful people walk by the open seat for fear of reprisal from the presumed bold person who would dare hold the seat with baggage.  I have watched a passenger stand by the seat, look down at the purse, look over at the owner seated next to it (who never looks up, to the right or to the left), and then walk on.  Where is the resolve? 

For those who’ve traveled with me, you could attest to the fact that I am of the type to board the train, pick up the baggage on the open seat, hand it over to the owner and sit happily for the remainder of the ride.  Only once did I have the baggage owner say something to me.  I did not look up, to the left or to the right.  I consoled myself with the thought of throwing momma from the train (probably the only positive context I can offer from that movie).  I exude resolve in that kind of circumstance.

This trait is not found in all people naturally.  It is, however, something that can be learned.  Tenacity is grown from a response to a core belief.  In the previous example, fairness is violated.  If fairness or justice or a sense of right and wrong matter to you, that can be built upon to develop tenacity around defending such a position or offering active engagement to its display.  It’s a manifestation of your belief system.

Think about your goals for this year.  It’s halfway through the year.  Do you still believe in them?  Take some time to measure where you’ve gotten with them and what’s needed to accomplish these goals.  But also, assess the tenacity with which you’ve approached the path towards those goals.  Do you fight for them?  Is your resolve deep around them?

Goals are important.  For as much as they’ve been over-complicated in creation, the point of them remains strong.  Goals serve as a beacon.  They are to drive the daily strain.  They allow for mile-markers of celebration on the path towards them.  They are the driving force of an organization.  If you don’t know where you want to go, then where are we going?

Being strong in our resolve towards these goals takes an unapologetic position.  Unapologetic is not the same as mean.  Be tenacious in protecting those goals, even if there is an alteration that has to happen to them.  Updating goals based upon new information is healthy.  If the new information is that you’re tired or it’s too hard, that is not healthy.  Goals should be designed to stretch you.  Easy to say, yes, but the point is to work hard to get this challenging objective. 

If you want to increase sales by 50%, calls will have to be made, networking will be expanded, pitching product and services will have to increase 100%, etc.  All of this takes great effort.  If you are not committed to the goal, then tenacity around it won’t develop.  Come back to goal creation.  Where do you want to get to and why?  Answer that clearly and create objectives to get there.

For those who are privileged to lead a team, work with each individual to develop strong resolve around the goals set.  Help them to know how to get to where they’d like to be.  Avoid the common issue of goals being set to paper, and then little else.  You have a great chance to enhance and develop skill sets for your team.  And then the celebration around accomplishment is even sweeter when it’s a collaborative effort of support and encouragement.

Fight more for the goals you’ve set.  Don’t cower.  Stand up and move towards accomplishment of those goals.  Remain laser-focused.  If someone has put a piece of luggage in your seat, move it.  You paid for your ticket.  You were up early to get the train.  You have a goal to get to the destination ahead.  See?  Think about goal-pursuit in simpler ways; it will help to foster tenacity.  And once you have the resolve behind the goals, watch out world!

Apologize

Simple: When you do something wrong, say you’re sorry.  Whether that action was purposeful or accidental, a sincere apology should be offered to those affected by the action(s).  It’s very simple.  Yet, the truth is that it’s hard to do. 

We love to watch others mess up, though, don’t we?  We are outraged at public figures who make mistakes – small and large – and then have to apologize in public ways.  Tiger Woods, Bill Clinton, Michael Phelps, Ariana Grande, Charlie Sheen, Kanye West, Hope Solo, Mel Gibson, Michael Vick, etc. have all had to do it.  We hunker down to watch TMZ show us all of the dirt that lead to the apology and then listen to interviews of “professionals” who diagnose the apologies offered.  We are sick people.

On an individual basis, we don’t like being wrong.  Usually, it’s because we really don’t think we’re wrong.  We choose to put our efforts into defending our position, outlining the course of events that lead to the repercussions and to bringing up the twelve previous wrongs of the “offended” party.  We’d rather keep the truth of our wrongdoing to ourselves.

Consider this: How many people do you think do wrong things daily?  Even if 75% of those doing wrong do so on purpose, there are still 25% of those who’ve done wrong without intention.  Why should it be hard for 25% of the population to apologize when a mistake is made?  FYI – that would be about 1.75 billion people.  There would be media coverage and interviews due to the buzz of apology.

In our businesses, why is the act of apology disproportionate?  Specifically, why is it difficult to have senior leadership own their shortcomings?  News flash: There are qualified individuals in senior leadership roles who make mistakes.  Think about the first time you held a new position.  Not just with a new company, but the position itself was new to you.  You’d never been a manager before.  A director, a VP, or a CEO before.  It had to be the first time at some point.  Why would anyone think that someone in a new role would get it all right all of the time?  Apologies should be expected to come.

And pride?  Please.  You’re going to make mistakes.  Own them.  Your pride can handle it, and if you think it can’t, you shouldn’t be working where you work, or in the role you have…or with people.  Own it and say you’re sorry.  You cannot really think that you are the first to make an error, do you?  You think because you’re a CEO, you will damage your reputation or status as a leader by owning mistakes?  Think about what you’re doing to your reputation by not owning the mistakes you’ve made.  Everyone knows already; your screw-ups aren’t a secret.

The other side of the coin is not right either.  Don’t you know someone who often begins sentences with, “I’m sorry”?  Stop apologizing for so much.  When you say you’re sorry all of the time, it’s like crying wolf.  It loses its punch and sincerity.  What about when you really need to apologize?  Won’t it seem like every other sentence?

Offering the apology is appropriate when something was done wrong.  Offering the apology is appropriate when something was received wrongly.  Of course your intention is important, but it may not overshadow the way others took what you said/did.  The apology, too, does not negate the consequence that may come from your actions.  It does, however, set the tone for the consequence and it just might allow others to support you more willingly as you travel that road.

You may have noticed that the apology is one-sided.  Offering it does not mean the response you’d like will come.  You may apologize and that offended party may not forgive you.  That is not something you can fix.  The other party may need time, may need to work things out, may never come around.  That’s not your responsibility.  Yours is to genuinely say you’re sorry. 

Our staff and leadership need to know they can make mistakes, offer an apology, correct the errors and choose differently moving forward.  If the same errors keep happening, even though apologies are offered, it might not be the best role for the person.  Repetition is a great teacher both for the individual and the community.  Giving people room to learn means mistakes.  Giving people room to consistently repeat the same mistakes is foolishness. 

Again, saying your sorry is tough.  It’s uncomfortable and awkward.  It’s dynamically opposed to our natural inclination.  It’s a reminder to us that we’re not perfect.  Just remember that we’re all in the same boat.  That will help us to offer the apology from a right frame of reference…and maybe to receive it rightly, too. 

The Reason

by +Matt Bagell 

(Financial Contributor for Humareso)

As a financial planner, I run into the same question all the time when talking to a business owner, hr specialist or controller.  Which retirement plan should we set up for our company?  They always seem to be leaning towards a solution but are not sure what the full details are with regard to the various plan options.  

You just need to know one simple thing; what is "The Reason" for creating one for your company.

Let's face it.  Some business owners are extremely interested in putting a lot of money away for retirement and taking advantage of as many tax deductions as possible.   In a perfect world, a business owner could do this while receiving a tax break from the government at the same time without limitations.  Unfortunately, there are caps to what you can do and it depends on what plan you choose.  On the other hand, a business may be solely focused on enhancing the benefits they are offering to their employees.  The company may see a retirement plan as a way of keeping their employees around and also attracting new ones as well.  

I could bore you with all of the details that go along with a SEP IRA, Simple IRA, and 401k plan but if anything else you have to first realize that these plans allow contributions to increase to a level much higher than an individual IRA.  In 2015, the traditional IRA contribution limits are $5,500 and $6,500 if age 50 or older.  The limit allows for a decent contribution but a business retirement plan such as a SEP IRA allows for contributions up to $52,000 in 2015. Now that is a huge difference.  If you put that amount against a 30% tax bracket, you would receive over $15,000 in tax savings in just this year alone. If your company has many employees or is likely to grow, a 401k/ Profit sharing plan might be more suitable.  You will have the flexibility to decide if you want to invest more or less each year and can limit the benefits provided to the employees based on actuarial testing.  

There are many factors that affect how a retirement plan will work including the age of employees, the number of employees, the salaries of employees and the contribution amount of the employer(s). This is why a decision should not be rushed.  A Simple IRA plan, for example, does not allow for higher contribution limits compared to other business plans but the out of pocket cost is less for the employer to set up. 

Retirement plans are great ways to really improve your company.  The business owner(s) can really take advantage of putting money away and the employees are also set up to come along for the ride. Think about it. When else does the government hook you up with a discount on taxes for saving your own money. By the way, they also let your money grow tax free before withdrawals. Not a bad situation if you are able to contribute steadily throughout your working career.

So, first start with "The Reason" you are considering a plan. From there, it will be a lot easier to figure out what fits your company's needs.

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Into the Woods

I am a sucker for a good story.  Basic story-telling should grab the listener early on, keep that person glued to the next word and then amaze and challenge to wrap it up.  In the musical Into the Woods, a mish-mosh of fairy tales come together, initially in ways we would expect, but then all of it collapses around us, such challenges are presented.  The pithy and wise-beyond measure granules of truth that come out of it are poignant, if not stunning at times.   The baker's wife sings "But if life were only moments, then you'd never know you had one."  The witch painfully sings "Children may not obey, but children will listen."  Or, my favorite, the Prince states, "I was raised to be charming, not sincere."

It's often the case that the simplest of stories can turn a head back to true north.  Our gauge can be put off from purpose and passions because of the myriad of distractions in front of us.  Our perspective has to be re-adjusted.  We need to wake up.  Sometimes, a trip to the woods is exactly what is needed.

Whether for a business or for an individual, this journey is one to be taken every so often.  What can the challenges that come with walking through a different set of scenery do for you?  Think about your company.  What if you had three people walk in, at times you didn't know, when you were not there, and then report back what they observed.  Would there be value in that?  Of course!  The meadow that you think you're lunching in may turn out to be full of thorns (or at least have some thorny patches).  

Perhaps it is wise to walk into a competitor's location and observe.  You know, shop or use their services, but really just be there to take it all in.  Sound deceptive?  Nah.  The great car makers bought cars from competitors.  Mr. Gimbel shopped in Macy's once in a while.  It's good.  It's profitable.

As individuals, the same push is there for us.  Are we walking in the woods?  Have I settled for complacency?  Another line from Into the Woods is "you're not good, you're not bad, you're just nice."  How awful!  Listen, I think I am a pretty good guy, but I would rather have someone hate me than just think I am nice...bleck!

With a new year upon us, what will you do to travel the path towards a new view, a new status, a new scene?  I could give you a hundred ideas, but the point is to start the journey.  Those doors will open.  The pathway will become clearer.  You will run into wolves, witches, princes and giants.  All of them will help you to see who you are and who you want to strive to be.  The inspiration comes not only from those feel-good moments, but also from those moments of despair and tragedy.

Businesses must be sharp and ready.  People must be challenged and pushed.  We have each other.  Walk the path with someone.  Don't fear.  Go to the woods!