3 Things to Do Before Running a Business Experiment

May 9, 2019

3 Things to Do Before Running a Business Experiment

Experiments are a great way to test your assumptions and make smart decisions, whether you’re launching a product or optimizing a marketing campaign. But without a thoughtful plan of execution, you may not learn anything truly useful.

 Before you invest in an experiment, make sure you have three basic ingredients.
(1)  First, be able to collect the data you need to answer the experiment’s underlying question. 
For example, if you can’t measure attribution from a digital ad to a sale, you can’t run an experiment to figure out which ads are effective. 

(2) Second, involve a statistical expert who has both the knowledge to design the experiment and the communication skills to explain the results to stakeholders. Leaders need to understand your findings before they can act on them. 

(3) Third, do a test run of the experiment in a low-stakes environment. If your goal is to send an email survey to customers, send it to a large group of colleagues first. This will ensure that the experiment is set up correctly and that you’re gathering the data you need.

Adapted from “8 Things to Do Before You Run a Business Experiment,” by Linnea Gandhi and Erik Johnson

Great Leaders Build Their Emotional Courage

May 27, 2019

Great Leaders Build Their Emotional Courage

Part of being a leader is doing things that make you feel uncomfortable. Maybe you need to raise a tough issue with a direct report, or maybe you have to handle negative pushback on a project. To improve the way you deal with uncomfortable situations, build your emotional courage. Start by thinking of a leadership skill you want to get better at: giving feedback, listening, being direct — whatever you want to grow in. Then practice that skill in a low-risk situation. For example, let’s say you want to get better at being direct. The next time there’s a mistake on your phone bill, call customer service and practice being succinct and clear. Notice how you want to react — Get angry? Backpedal? — and focus on resisting those impulses. These are the same feelings you’ll encounter in higher-risk situations at work, so learn to push through them. Continue to practice until you feel comfortable and can respond the way you’d like to.

Adapted from “To Develop Leadership Skills, Practice in a Low-Risk Environment,” by Peter Bregman

Is It Possible to Ask Too Many People for Advice?

May 30, 2019

Is It Possible to Ask Too Many People for Advice?

When you need advice, how many people should you ask? It’s tempting to get a lot of opinions — say, from friends, coworkers, and mentors — but doing so can backfire. You won’t be able to follow everyone’s advice, of course, and research shows that those whose advice you don’t take may have a worse view of you afterward. They may even see you as less competent or avoid you. (Imagine a senior executive in your company who is pleased that you asked her what to do — and then less pleased when you don’t do it.) So the next time you need advice, think carefully about who you’re asking and be transparent about your goals. Clarify the reason you are soliciting advice (“I am hoping to explore all my options”) and whether you’re asking others for their view as well. That way you can set the tone for the discussion and the expectations for the actions you take in the future.

Adapted from “How Asking Multiple People for Advice Can Backfire,” by Hayley Blunden et al.

Managers, Know When to Stop Talking and Start Listening

May 31, 2019

Managers, Know When to Stop Talking and Start Listening

As a manager, you probably have to talk a lot. You want people to have the guidance and direction they need, of course, and there are plenty of situations where you need to speak your mind. But at some point, talking a lot can turn into overcommunicating. You can end up dominating conversations, which means employees’ perspectives aren’t being heard. To make sure you aren’t talking too much, listen as much as you speak. When someone raises a question in a meeting, invite others to weigh in before you. In fact, don’t contribute your thoughts until several other people have offered theirs. That way everyone is included and feels that their input is valued. You can also schedule regular one-on-one sessions with your team members to encourage open communication. Ask employees about their wants, needs, and concerns — and then hush. You may be surprised how much you learn when you’re saying nothing.

Adapted from “Don’t Be the Boss Who Talks Too Much,” by Hjalmar Gislason

Improve Your Critical Thinking Skills

Strategy Tip . 
Improve Your Critical Thinking Skills

To make good decisions, it’s important to think critically. And, yet, too many leaders accept the first solution proposed to them or don’t take the time to evaluate a topic from all sides. 
To guard against these mistakes, there are several things you can do to hone your critical thinking skills.
(1)  First, question your assumptions, especially when the stakes are high. 
If you’re coming up with a new business strategy, for example, ask: 
Why is this the best way forward? What does the research say about our expectations for the future of the market? 

(2) Second, poke at the logic. 
When evaluating arguments, consider if the evidence builds on itself to produce a sound conclusion. 
Is the logic supported by data at each point? 

(3) Third, seek out fresh perspectives. 
It’s tempting to rely on your " inner circle"  to help you think through these questions but that won’t be productive if they all look and think like you. Get outside YOUR BUBBLE  and ask different people to question and challenge your logic.

Adapted from “3 Simple Habits to Improve Your Critical Thinking,” by Helen Lee Bouygues

How Leaders Build Trust

June 26, 2019

How Leaders Build Trust

To be effective, leaders need their team’s trust. But how do you get that trust — and how do you get it back if you’ve lost it? Three behaviors are essential. The first is to create positive relationships on your team. There are a number of ways to do this, including: helping employees cooperate, resolving conflicts between others, giving honest feedback, and checking in with people about their concerns. The second behavior is to demonstrate expertise and judgment. People are more likely to trust you if they believe you have technical know-how and the experience to make good decisions about the team’s work. The last behavior is to be consistent. You must do what you say you will do. Follow through on your commitments and keep any promises you make. You don’t need to be perfect at these three behaviors to be a trusted leader — but you do need to be good at them.

Adapted from “The 3 Elements of Trust,” by Jack Zenger and Joseph Folkman

Don’t Let a Toxic Culture Drag Down Your Team

June 21, 2019

Don’t Let a Toxic Culture Drag Down Your Team

Company culture exerts a powerful influence on employees’ behavior. In some cases that power can turn toxic, driving us to compromise our values and do things we normally wouldn’t. You probably can’t change a toxic culture on your own, but there are steps you can take to insulate yourself from its effects. First, figure out the kind of environment you need to be effective — and happy — at work. 

Ask yourself: Which of your values have fallen by the wayside? Do you feel healthy and content? Are you proud of how you behave toward colleagues? Next, talk to your teammates about the culture you all wish you had. Ask what’s important to them at work and how company norms have affected their behavior. Then talk about establishing and committing to a team “microculture” based on everyone’s shared values. 

The microculture may not fix the company’s broader issues, but it can encourage your team members to resist the negative pressures they face in their jobs.

Adapted from “Keep Your Company’s Toxic Culture from Infecting Your Team,” by Annie McKee