Aspire Consulting, Ltd. Blog

As we recover from the down turn in the economy, some of our customers that are in industry leading positions are discussing merging or acquiring companies in less strong positions. We know through our experience that when these happen, it would make sense that the strengths of each would add to the other, we know, and research shows that more often than not one plus one is less than two.According to Bain and Company, the three primary reasons that mergers and acquisitions continue to fail are:

1. Missed targets. Many times this is because the targets are not clearly or are not at all defined. Others it is because of a less clear vision of reality and the difficulty of putting two together.
2. Loss of key people. Many companies wait too long to put new organizational structures and leadership in place; in the meantime, talented executives leave for greener pastures.
3. Poor performance in the base business The mergers often take up more time and energy than at first understood. This often leads to poor performance in the key business areas. Other times, competing ideas/managers undermine each other’s and the competitors take advantage.

Bain and company also list their top ten ways to improve the likelihood of success. These include:

1. Resolve the power and people issues quickly-the longer they go on the longer they distract from the business of doing business.
2. Start integration when you announce the deal-it always takes longer than you assume and people and culture get in the way.
3.  Win hearts and minds-it is in the end all about the people. You will never convince them with logic. Ultimately emotion will rule the day.
4. Commit to one culture-this is very difficult when the cultures are
5. opposites. The fact that the culture change will cause some to leave should be considered. In fact, those who cause disruption in this area should be invited to leave. It is that important.

From our perspective, these are all related in one way or another to the people and specifically the leadership in the organization. Leaders need to be clear, concise and decisive to make a merger successful.

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We declare ourselves a trusted advisor for a number of our long term customers. I thought this would be easy to define so I did a Google search for trusted advisor, and went to Wikipedia, but there is no such thing in these worlds. In Google, we get a number of companies who are trusted advisors to their clients and in Wikipedia, the page does not exist.

So, as we think about it, we are a trusted advisor when:

1. Our clients come to us first, regardless of the issue. If they do not know how to deal with it, they come to us.
2. We are interwoven into the fabric of our clients. This means we can see enough that they
3. cannot to be valuable.
4. We are objective observers. This often extends from the CEO to the front line.
5. When we say something it holds value, and is seen with clarity.
6. Our clients trust that our recommendations are in their favor.

That said, we have often struggled with how far to extend our reach in this role. We understand:

1. Our clients trust us.
2. This trust is well earned and valuable to both us and them.
3. We should never take advantage of this trust.
4. Bring in only the best of strategic partners
5. Defer when you are at a loss.

On the other side of the coin, we also understand that:

1. Our knowledge of their company allows us a unique view.
2. This view allow different insights.
3. We are able to customize the work we do to them and their issues because of our deep understanding.
4. We can offer greater value in some circumstances that are at the boundaries of our reach because of this greater understanding.
5. We must value what we know and are responsible to offer it back to them, least we withhold from this important relationship.

Trusted advisor or trusted relationship. Both offer a great opportunity for both the client and the provider. The key is to keep the focus on the integrity of the relationship.

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Change happens to all of us.  In my life, things in the immediate future are changing. People are moving away, others are changing jobs, some are having children, or divorcing spouses, marrying, moving, learning new things and gaining new degrees. My nieces are engaging in relationships, improving their job status, and in one case will soon be graduating from college. There are changes all around us and the way we respond to them determines our future.

I have always loved the word ambiguity and the possibilities it holds. According to dictionary.com, it is a noun that means doubtfulness or uncertainty of meaning or intention. You are not ever clear. What great possibilities lie in that ambiguity? The same goes for change. What possibilities lie in change? How can you embrace it and how can you make it part of your business model? One of my employees asked me when the changes would stop. My response was “if we are lucky, never”.

To embrace rather than reject change try these things:

• Look at the possibilities that are in front of you.
• Be willing to discard the old and consider the new.
• Reframe your thinking. Look at the world differently.
• Seek out other opinions, especially those who you have not looked to in the recent past.
• Be open to new options. Put them into your processing.
• Embrace new things.
• Consider different ways of looking at old things. They may shine as gold.
• Talk to new people. Different views will open your mind.
• Challenge your values. Why are they what they are and are they still valid to you today as an adult?
• Try new timing. Speed up or slow down. You never know.
• Ponder alternative ways of doing things.

We know that change offers a great opportunity to individuals as well as organizations. Try it just for the fun of it!

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Coaching is becoming more prevalent these days with many fortune 500 companies employing coaches and many others contracting with great coaches to support their employees.  We also know that smaller companies, and especially really small companies (less than 10 employees) are using coaches successfully to improve their business.

We work in the world of developmental coaching. This is very different than many coaches. Our aim is to help our clients develop their ability to clarify their values and then to do things that are in alignment with those values.  Additionally, they learn to do things at the right time, including the right people, for the right reasons, in the right way, for the right reasons.  Ultimately, we find that with this combination, they get great results.

How can you move forward in your life in this way?

Well, first we would say get a developmental coach. When you are working with a developmental coach, it will not be easy. You will work. You will feel pain. You will discard bad things in your life. You will embrace the good. You will also make great strides and feel the visceral emotions that success can bring. Developmental coaches help bring about clarity. They do not give answers. They are not consultants. Developmental coaches understand that you know your right answers.

We have been “coached” by some that were not developmental in their approach. In our best unbiased way, we can tell you that the results are mediocre at best. You end up with solutions that are not yours and questions that are unanswered and issues that continue to be a thorn in your side.

Can you find a developmental coach to help you? We would be happy to discuss the difference and help you decide how best to spend your time, energy and dollars.

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I had a good friend who said that spring time is the time for pruning many plants and shrubs. Most trees and shrubs benefit from annual pruning. It keeps them in shape, gets rid of dead and diseased wood and encourages new growth. I do my best to abide by this rule.

Pruning also  promote plant health by removing dead or dying branches injured by disease, severe insect infestation, animals, storms, or other adverse mechanical damage. Prune to maintain plants; intended purposes in a landscape, to encouraging flower and fruit development, maintaining a dense hedge, or maintaining a desired tree form or special garden forms.

Pruning to improves appearance. It controls plant size, keep evergreens well-proportioned, or remove unwanted branches, waterspouts, suckers, and undesirable fruiting structures that detract from plant appearance.

Pruning to protect people and property when trees are a hazard to structures or vision.

Why not also take this time to “prune” things in your business and life?

Promote growth of friends and clients by making time for them. While it may sound crass or unbusiness like, removing those friends that are bringing you down, or clients that cost you more than they are worth, is a healthy one for your life and business.

Improve your health by gaining more time. Maybe it is actually doing things to improve your health such as exercising, or gaining time to provide better service to your important or new clients.

This “pruning” also allows you more time to spend with those friends or clients that support your success. Similar to improving appearance, it also improves your appearance in business. You will receive easy referrals from those who appreciate the extra support, and your great friends will set your mood and attitude.

Think carefully this spring about the things that are adding to your life in and outside your business. Water and feed those that are important components, and prune away those that are hazards, impediments, or otherwise limiting your growth and success.

A couple of weeks ago I mentioned a group I was working with that was having great issues with communication and understanding. It truly was an issue of who said what when and great misunderstanding. Two weeks later, the group is working at a high level of collaboration. We have really demonstrated Bruce Tuckman’s theory of group development. Tuckman said groups go through a process; forming storming, norming and performing.

In the first stage of team building, the forming of the team takes place. Each participant’s behavior is driven by a desire to be accepted by the others, and avoid controversy or conflict.

During the forming stage, members of the team get to know one another, exchange some personal information, and make new friends..

In the second stage of storming, different ideas compete. Team members open up to each other and confront each other’s ideas and perspectives. In some cases, storming can be resolved quickly. In others, the team never leaves this stage. The storming stage is necessary to the growth of the team. It can be contentious, unpleasant and even painful to members of the team who are averse to conflict.

In the norming phase, the team manages to have one goal and come to a mutual plan for the team at this stage. Some may have to give up their own ideas and agree with others in order to make the team function. In this stage, all team members take the responsibility and have the ambition to work for the success of the team’s goals.

When teams reach the performing stage, they are able to function as a unit as they find ways to get the job done smoothly and effectively without inappropriate conflict or the need for external supervision. By this time, they are motivated and knowledgeable.

In our case, the performing phase came around as we tried to cooperate and assist each other in meeting our common goal. Egos are set aside and the greater good is pursued.
Have you been a participant in this process? How have you come out the other side?

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Stress, better to not have it than to have to come up with ways to get rid of it.

What things can you do to decrease stress in your life?

1. Planning -a well thought out day will leave less room for neglecting those important things
2. Reviewing your priorities-make sure that your values are guiding what you are doing
3. Get the big items that have deadlines on a calendar-this will help make sure you get these things done when they need to be
4. Keep must do and should do lists-these are the smaller items that fill in around the big ones above
5. Preparing well-you are much less likely to make mistakes if you prepare well
6. Work on things that are supportive of many aspects of your life-this improves efficiency and allow you to get more done
7. Stick with people who do not increase your stress-easy to say. At least try to limit your time with them
8. Keeping your expectations reasonable-perfection may be something to strive for, but allowing for some wiggle room is reasonable.

Sometimes, however that does not work and you find yourself stressed out! Here are some things to try then:

1. Change up what you are doing-even if it is for a few minutes
2. Go for a walk or other exercise-get out of the environment
3. Take a long shower or bath
4. Do something nice for your self-get a massage, a facial, have a nice meal
5. Find a quiet place, or for the extroverts among us go out with some friends
6. Sing-loudly if you are somewhere you can!
7. Laugh
8. Put things in perspective-how truly important is it?

We can greatly control the amount of stress we have in our lives and we can control how we respond to it. I am sure that these lists can be added to by you. Thoughts?

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Hospital Chief Executive Officers continue to leave their facilities at a rate higher than other CEO’s, averaging 16-17% as compared to 13% in Fortune 100 companies according the American College of Healthcare Executives chief Thomas Dolan. The trend is for Chief Executives to stay less than 5 years. In my immediate area in the last few months, the CEO’s of two of the hospitals have resigned and the chief of one of the larger networks has resigned. They are all committed to a “national search” to find the best candidate. In the meantime, there is a high level of unease inside the area healthcare facilities, and in the communities.

Turnover in this critical position can be devastating. There is a missing link in driving plans forward, there is fear on the part of staff not knowing what change might bring, and there is often a mass departure at other management levels. If the departure is similar to the 5 year CEO trend, positive changes that might have been initiated may go by the wayside.

Boards and Senior Leadership can do some things to minimize the impact.

1. Make sure as much information as possible is communicated prior to the CEO’s departure
2. Clearly identify the roles and expectations of remaining staff
3. Clearly identify the roles and expectations of the incoming CEO
4. Provide early and frequent opportunity for communication between the incoming CEO, leaders and board.

The incoming leaders should consider:

1. Following the boards lead for a couple of months
2. Communicate frequently across the organization
3. Seek to understand the styles and strengths of the leadership team.
4. Learn the history of the organization

Transition of any leader can be devastating; however we have seen health care organizations moderate the risk through careful planning and exceptional communication.

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I was participating in a discussion two days ago with five other people in which we were talking about the conversation that we had a few days prior. It was made particularly difficult as we were on the phone and sometimes missed what was being said by each other. Today, I received some email from one of the participants asking for clarification about something that was said. I did not quite recall it as she asked it, but tried to reply anyway. Her response back again seemed even more like she had been involved in a different conversation than I had. Wow, how easily things could get confused,  misunderstood and then further miscommunicated going forward.

Some good reminders for me from this conversation:

1. Face to face verbal communication allows for the best possible outcome. Remember communication is not about talking or sending a message but rather conveying information to another so they understand and often take some action.
2. Our memories fade fast. We each were sure that we heard was said was part of the interaction. This is true even though we were saying very different things. We do not have transcripts, so best to take action and clarify when the information is still fresh.
3. Pay attention. It is easy to wander when on a conference call on the phone.
4. We all come to the exchange with our biases. In this case, I assure you there are people I know better, and admire more than others. Since we meet primarily on the phone, I need to be acutely aware of these biases and I know they color my interpretation. I am not alone.
5. We forget that we most often do not understand. Begin each conversation understanding that you do not understand and be open to having new lights go off when you do truly get another’s perspective.

Communication is difficult at best and needs to be given focused attention all the time. Take one step to improve your skills!

I have been watching my local girls high school basketball team over the last few weeks as they tear through the state tournament. They warm up the same way each game. They sit in the same place for the talk, come out on the floor in the same way, and are in the same line up holding hands for the national anthem. As they come out onto the court to begin the game, they wish each other well in singularly unique ways but the same each game. Once the game starts, while there is discipline, there is great creativity. I believe that their habits are rituals preformed before the game that set them up with a strong base from which to spring and when the game gets going, they go whichever direction is needed.

I believe this is true for us in business as well. Our rituals and habits can set us up for greater success whether we are meeting with a potential client, facilitating a group, speaking at a conference or even out networking.

Before engaging in business activities, prepare yourself. Set up a ritual. Do this each and every time. Set these rituals based on what you know your strengths and motivators are.

Do the right amount of prep work so you are not worrying about what you do not know. Learn about those you are meeting with, and know your “material” backwards and forwards.

Set goals and review them before you get to the engagement.

Wear clothes that present yourself and are appropriate and comfortable. Your physical presence will give a first impression and impact also the way you feel.

Use affirmations that confirm your success. Greasing the wheels by presetting the neurons in your brain will increase the likelihood that your success will happen.

Practice may not make you perfect but it surely helps in gaining successful outcomes. Put rituals in place in your work, and you will improve your outcomes and success!