Q & A with Marcia

Q: A year ago I saw that our industry was changing and mentioned it to our staff. Now our sales are declining. I didn’t realize the changes would impact us so soon. What should we do?

A: Leaders must anticipate changes in their industries and prepare their organizations for these changes. Continually trying to improve your company is not enough. Gather your managers and some of your staff who ask great questions, are creative and full of ideas. Bring them together to focus on the customers, future customers’ needs, and the future. Discuss what you need to do to serve the current clients. Prioritize and focus on those topics, and create a team to deliver what they need quickly. Also identify what you need to do to move your business into the future. Pivot, disrupt yourself before you are disrupted from the outside. It will take courage to try new ideas, but be quick. Try many ideas, ask customers what they like and don’t like. Make a lot of mistakes; those mistakes are your opportunities to learn and make a better future.

Q: I’m a new CEO with who has inherited a staff of 18 executives. While it’s a large team, I’m fortunate to have a competent group. Our CFO wants to please me and only tell me good news. I need honest news, especially about the financials. What do I need to do?

A: This situation is not uncommon, though at the senior level, one might think that it is. The CFO has some fear (various or many kinds, perhaps) or has low self-esteem. Have a one to one conversation and communicate with him that you need him to be honest, direct, and timely with any information and especially the financials. Be clear that if the financials are not good, you don’t blame him. They are the results of other issues. Ask him what his concerns are. Ask him if he can be direct with you. The most important thing is that you can communicate and trust each other. Interact over a few weeks. If he is able to shift and deliver what you need, a sound relationship may emerge. If you can’t trust him, you need to find someone you can trust for this position. Coach until you get to a decision: it works or it doesn’t. Making tough calls takes courage, but leadership takes guts.

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Send your business leadership questions to Marcia Daszko at md@mdaszko.com. For more than 25 years, Marcia has been an inspiring strategic advisor to executive teams, a provocative keynote speaker and an MBA professor. She is a provocative book author of “Pivot Disrupt Transform” and co-author of “Turning Ideas Into Impact: Insights from 16 Silicon Valley Consultants.” Invite her to speak and see her resources for you at www.mdaszko.com