CEO corner. Be a Leader: Wozniak was a great musician, Jobs played the orchestra.

[NeoDialectic]

I do not believe that your interpretation for @NeoDialectic and @fastlane_dad applies. I am convinced that as savvy businessmen, both of them wanted to have a 10x better than alternative products. It is not through lack of trying that they didn't. They had game excellence and as such, achieved a successful exit at 8-figures. They applied "highest and best use" idea to make it happen.

I was very hesitant to really reply because I agree with both of you in different ways. I don't think that your guys ideas are as at odds as they seem on their face. If I was pressed, I would just say that the optimal mindset would probably depend on the individual person and their current situation/mindset. Wishy Washy answer. I know.

@Antifragile 's idea is about having a strong mindset. Even if it is not required to succeed, it is always better to have the mindset that you should try your hardest. On the other hand, the toxic perversion of this mindset results in people becoming paralyzed in in-action (thinking that their value-add is never good enough). Not everyone always has their all to give to business and this becomes the great excuse. It's the type of thing that @Andy Black tirelessly works to break people free from with his posts like this, this, and this.

@BizyDad 's idea is just pragmatically assessing the world as it is. You don't need to be the best or close to it to succeed. The most obvious toxic outcome of this could be that if you are already just planning on only giving a Meh amount of effort or value, then your mindset may doom you before you even begin. These forums are a graveyard of posts from beginners confused why their alibaba me-too product isn't taking off. The benefit's are huge too though. It breaks down barriers and makes some people more comfortable with doing actions before they feel ready. It's not as daunting of a task when you know you don't have to be the very best to succeed.

 

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[Andy Black]

Not everyone always has their all to give to business and this becomes a great excuse. It's the type of thing that @Andy Black tirelessly works to break people free from with his posts like this, this, and this.

Not sure what the conversation is about, but it sure feels like everyday I link to those threads and similar. I'm sure many have me on ignore as I'm like a stuck record.

 

[Antifragile]

Thanks for posting your replies, @Kak. A lot to unpack here and we are starting off with something both agree. Great. I'll tag @thechosen1 to see if he wants to play with ideas here too.
For ease of reference, copying TRUE STATEMENTS before discussing your reply:

1. You can’t please everyone. Don‘t even try.
2. Everyone is afraid of failing and looking stupid. And there is a difference between looking and being. But that’s another topic altogether.
3. You must appear to be calm even when you are not, especially when you are not.
4. Energy management is more important than time management.
5. Leadership is about “politics” in a sense that you cannot succeed unless you can presumed others to do what you want.
6. Your story is far more interesting to you than it is to anyone else, focus on others. You have two ears and one mouth, use proportionately.
7. Never take it personally and never explain yourself - just let it go. Is this how you normally act?
8. Don’t trash talk others - people will neither trust nor respect you. How did you measure up on this one?
9. Learn to make a positive first impression. This is a skill.
10. Always read your emails before sending them, they are opportunities - don’t make them into problems.
11. You have a life outside your CEO role, you need it for perspective.
12. Don’t take compliments too seriously - it’s all just feedback.
13. If you lose your composure in time of crisis, you make it worse.
14. The secret to success in business is being likeable, people trust people they like.
15. Know who you are and where you want to go - if you don’t, you are not a leader.

1. Agree. The best way to walk that line IMO is to be totally and completely honest about why you might have chosen something that doesn’t make them happy. Even if they don’t agree it pays to help them understand why.

So many people I meet do try to please everyone and fail.

2. Agreed. There are a lot of people in the world that are skeptical of entrepreneurs and our “grand plans.” Is that because they don’t believe it can happen, or don’t want to believe you can do it while they don’t even bother trying? I usually consider it the latter. Failing after working really hard is a tough thing to put on full display.

3. Nah. I think there’s a place for passion in business. I think you have to be careful with your words and actions, but I wouldn’t be afraid to show some fire if I was particularly passionate about something. Negative or positive.

I once had a PR lady working for me who was a drama queen. I fired her when she had a problem with the vision I had for her work. “I don’t know if I can do that.” Was her response to a simple request. My answer was “then I’m completely sure this is your last paycheck.”

I am a nice guy and before long people won’t mistake it for weakness. She wasn’t there long enough to understand it.

Years ago I remember playing at an executive golf course and we saw a guy take his club and smack it against a big tree in frustration.

Temper's the one thing you can't get rid of, by losing it.

While I am all about passion, when you feel like you are "losing it", that's where the line is drawn and being calm helps me do better.

One unusual thing about me (observation of others) is that I don't look stressed in stressful situations, I get calmer!

I am going to stand my ground on this one, @Kak.

4. Time management is organizational not personal. The sooner an entrepreneur understands that the better. We don’t grow companies by cramming all we can into our 16 waking hours. We don’t grow companies by sucking down Red Bull. We are the visionary leaders. Our time should be relatively protected to be the CEO.

Energy management > time management. You must be reasonably fresh and make good decisions. Otherwise "Red Bull" decisions can cost you dearly. I think we agree.

5. Disagree. Organizational politics implies manipulation, force, games, trickery, credit taking, and toxic internal competition. The best leaders foster an environment of open communication. Imagine being the ceo of a company and a low level employee brings a solution to a big problem to their superior who buries it, or takes credit for it. That’s a toxic individual I’d want out of there.

Let me push back. I am not endorsing trickery and toxic behaviour. But when push comes to shove, your job as the CEO Is to make things happen. Look at my signature block for your own quote!

6. Without question. I always say you can do anything you want in the world as long as you can inspire others to agree that it’s a good idea. Having that core focus on others. What it means for them, not you, is important. This includes investors, customers and talent you want to attract.

7. Business is personal for me. I’d say I can try to compartmentalize it, but at the end of the day, I want what I want and I will get it if I can. I always explain myself. I think clear and and honest communication keeps the house of cards from going up. You don’t want tension to build up between you and your people. That happens with shrugging things off and leaving things alone that bug you.

Side note: Same goes for marriage. Don’t let tension build. Don’t let the house of cards get one card high.

I agree with the way you saw that statement. The way I meant it was that when faced with criticism people sometimes get very defensive and proceed to explain themselves by losing credibility. Have confidence is another way to put it. Great reply! Thank you.

8. Yeah gossipy people, particularly when you aren’t close with them, absolutely lessen trust.

9. Absolutely! Dress professionally. Be on time. Be prepared. Don’t ever waste people’s time.

10. Yep. I’m trigger happy with forum posts. I end up editing most longer posts here because of some typo I don’t want to live with. I’m much more careful with the send button. That thing is permanent!

11. Yes. Of course. There are deeper motivations outside of just the company. They help make me better.

12. To be quite honest I’m a little uncomfortable with complements. Maybe I should be more thankful for them. Sure I’m happy to get them, but I’m more happy that someone else is satisfied with my work.

What makes you uncomfortable with compliments?
Side story: I met this one investor who made me feel like I was the smartest person in the world. He was amazing at delivering compliments without sounding insincere. He was absolutely capable of faking sincerity! Fast forward 6 months later and I realized why I was so uncomfortable getting those compliments. They were not feedback. They were a power play to get me to do something good for him and bad for me, it was manipulation using my ego against me. I am happy to say it did not work and I dodged a bullet.

13. Yeah, most of the time. If you throw a fit, you’re not going to see what needs to be done.

14. No. There’s no one secret. Success is the product of a combination of so many different things for so many different people. The people with all the friends in high school end up being the losers later… Why? They were likeable. Likability is not a predictor of success, it’s just something that helps. The question is written like a limiting belief from someone who considers themselves unlikable.

You are right. I concede ... there is no one secret for sure. But one of the many things that influence success is being likeable. If I meet someone who may be honest but gives me a used car salesman lier vibe - won't like him, won't do business.

15. Absolutely. I will add that your name is important. I would never trade my name for a quick buck. In the long term, I understand that my name will be a highly valuable asset and I don’t want to diminish that.

Thanks again for the in depth replies on this one. I feel like we could fill in one or even two KKRS episodes just from these questions.

 

[Guest-5ty5s4]

Thanks for posting your replies, @Kak. A lot to unpack here and we are starting off with something both agree. Great. I'll tag @thechosen1 to see if he wants to play with ideas here too.
For ease of reference, copying questions before discussing answers:

1. You can’t please everyone. Don‘t even try.
2. Everyone is afraid of failing and looking stupid. And there is a difference between looking and being. But that’s another topic altogether.
3. You must appear to be calm even when you are not, especially when you are not.
4. Energy management is more important than time management.
5. Leadership is about “politics” in a sense that you cannot succeed unless you can presumed others to do what you want.
6. Your story is far more interesting to you than it is to anyone else, focus on others. You have two ears and one mouth, use proportionately.
7. Never take it personally and never explain yourself - just let it go. Is this how you normally act?
8. Don’t trash talk others - people will neither trust nor respect you. How did you measure up on this one?
9. Learn to make a positive first impression. This is a skill.
10. Always read your emails before sending them, they are opportunities - don’t make them into problems.
11. You have a life outside your CEO role, you need it for perspective.
12. Don’t take compliments too seriously - it’s all just feedback.
13. If you lose your composure in time of crisis, you make it worse.
14. The secret to success in business is being likeable, people trust people they like.
15. Know who you are and where you want to go - if you don’t, you are not a leader.

So many people I meet do try to please everyone and fail.





Years ago I remember playing at an executive golf course and we saw a guy take his club and smack it against a big tree in frustration.

Temper's the one thing you can't get rid of, by losing it.

While I am all about passion, when you feel like you are "losing it", that's where the line is drawn and being calm helps me do better.

One unusual thing about me (observation of others) is that I don't look stressed in stressful situations, I get calmer!

I am going to stand my ground on this one, @Kak.



Energy management > time management. You must be reasonably fresh and make good decisions. Otherwise "Red Bull" decisions can cost you dearly. I think we agree.



Let me push back. I am not endorsing trickery and toxic behaviour. But when push comes to shove, your job as the CEO Is to make things happen. Look at my signature block for your own quote!


I agree with the way you saw that statement. The way I meant it was that when faced with criticism people sometimes get very defensive and proceed to explain themselves by losing credibility. Have confidence is another way to put it. Great reply! Thank you.



What makes you uncomfortable with compliments?
Side story: I met this one investor who made me feel like I was the smartest person in the world. He was amazing at delivering compliments without sounding insincere. He was absolutely capable of faking sincerity! Fast forward 6 months later and I realized why I was so uncomfortable getting those compliments. They were not feedback. They were a power play to get me to do something good for him and bad for me, it was manipulation using my ego against me. I am happy to say it did not work and I dodged a bullet.



You are right. I concede ... there is no one secret for sure. But one of the many things that influence success is being likeable. If I meet someone who may be honest but gives me a used car salesman lier vibe - won't like him, won't do business.



Thanks again for the in depth replies on this one. I feel like we could fill in one or even two KKRS episodes just from these questions.

I like it! I agree with a lot of what you said. Here are my answers (as they apply to business, specifically)...

1. An effective leader never stops doing what?
Solving the highest impact problems - the ones that only the CEO can solve - that only a leader can solve

2. What is the CEO's single most important skill?
Resourcefulness and creativity. I know that's two things, but it's kind of one thing. If you can't think out of the box, you aren't going to make it very far.

3. What is the one job a CEO cannot delegate?
His or her creativity and thinking. You can get people on board with your vision, but the vision is ultimately yours.

4. What is the leading cause of CEO's errors in judgement?
This question sounds like it's looking for one reason but I can't pinpoint just one, so I'll list a few:
Ego (I am going to be the big hero!)
fear/the desire to control everything
shortsightedness
wasting time and resources on unnecessary things
doing things "the way we always did them"
being too much of an entrepreneur (shiny object syndrome) and launching lots of competing endeavors, products, etc.
lots of different ways to screw up... All different!

5. What are CEO's biggest time wasters?
Being too frugal or thrifty. Penny wise and pound foolish. Doing your own X instead of hiring for X (or better yet, getting a machine that does X). Why are you signing every check by hand? You are the CEO!!

6. What is the single best predictor of company's poor performance?
Owners who are not interested in operations, just financials.

7. What two skills differentiate good from bad CEOs?
- Good CEOs create documented processes and procedures for everything. Bad CEOs just give out instructions...
- Good CEOs delegate well, to the right people, at the right time. EDIT: They follow a system! Bad CEOs do everything themselves, or delegate recklessly.

Ultimately, every business is a people business and every business is a financial business.

 

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[Antifragile]

I like it! I agree with a lot of what you said. Here are my answers (as they apply to business, specifically)...

1. An effective leader never stops doing what?
Solving the highest impact problems - the ones that only the CEO can solve - that only a leader can solve

In your opinion, how does it compare to say - Learning?

2. What is the CEO's single most important skill?
Resourcefulness and creativity. I know that's two things, but it's kind of one thing. If you can't think out of the box, you aren't going to make it very far.

Haha. You almost pulled of a US president moment... "I have two words for you: Made In America!"

Seeing my answer: Listening (asking questions) how does it affect your point of view on this question?

3. What is the one job a CEO cannot delegate?
His or her creativity and thinking. You can get people on board with your vision, but the vision is ultimately yours.

100%. You are in charge. It is your vision.

4. What is the leading cause of CEO's errors in judgement?
This question sounds like it's looking for one reason but I can't pinpoint just one, so I'll list a few:
Ego (I am going to be the big hero!)
fear/the desire to control everything
shortsightedness
wasting time and resources on unnecessary things
doing things "the way we always did them"
being too much of an entrepreneur (shiny object syndrome) and launching lots of competing endeavors, products, etc.
lots of different ways to screw up... All different!

I know that there are many possible answers to each question, that's why this thread exists. To help people think deeper about it. The idea is to try picking the most important #1 answer out of a list.

I think it is overconfidence... which is juxtaposed to lack of confidence leading to being ineffective. It's a thin line yet most type A leaders have the capacity to take confidence way too far and that leads to errors in judgement. Why? Because they stop listening.

5. What are CEO's biggest time wasters?
Being too frugal or thrifty. Penny wise and pound foolish. Doing your own X instead of hiring for X (or better yet, getting a machine that does X). Why are you signing every check by hand? You are the CEO!!

I'll be adding a time audit list to this thread. I believe it's interruptions (like meetings/emails/calls) because most people see a phone ringing and they cannot let it ring, they must pick it up. As a leader, you need to know your priorities and just because it is ringing doesn't mean you should be changing your priorities based on what someone else wants you to do!

6. What is the single best predictor of company's poor performance?
Owners who are not interested in operations, just financials.

This question has been interesting, everyone seems to have a different point of view. @BizyDad and I disagreed on this as I think its complacency. You think it's too much focus on financials. How would you spot that in a company?

7. What two skills differentiate good from bad CEOs?
- Good CEOs create documented processes and procedures for everything. Bad CEOs just give out instructions...
- Good CEOs delegate well, to the right people, at the right time. EDIT: They follow a system! Bad CEOs do everything themselves, or delegate recklessly.

100%, well put.

Ultimately, every business is a people business and every business is a financial business.

 

[Guest-5ty5s4]

In your opinion, how does it compare to say - Learning?

I think learning is critical. That's part of solving those high impact problems. I guess the issue is that the leader can't be expected to be the "ultra legendary genius" who makes everything happen. That would be a bad system. It kind of works in the small business stage and growth stage, but if you want to get bigger, you've got to transition away from that. A lot of companies don't grow from small business to medium business to big business, so they don't know what I'm talking about. They just start as a big business. Or they stay a small business.

Haha. You almost pulled of a US president moment... "I have two words for you: Made In America!"

Hahaha... Comparing me to one of my least favorite presidents! Yeah, what do they say? Take charge of the question and reframe it! I'll just say creativity then. I really meant the words as synonyms for the same thing.

Seeing my answer: Listening (asking questions) how does it affect your point of view on this question?

I agree with yours too. I don't think there's one right or wrong answer. I'm listening.

This question has been interesting, everyone seems to have a different point of view. @BizyDad and I disagreed on this as I think its complacency. You think it's too much focus on financials. How would you spot that in a company?

It's not that I think focusing on financials is a problem - but rather, a lack of attention to operations.
For example, if your company builds airplanes, but none of the executives have ever worked on airplanes, none of them have a technical background, there is not a single person who could tell you the first thing about designing an airplane, how an airplane works, the mechanics of an airplane, the parts of an airplane... I would run far, far, far away from that company.

(And I'd be scared to death to fly on one of their airplanes)

The board, the CEO, etc. aren't doing engineering work, but they need to know the processes and procedures, who to hire to lead divisions, what the overaching goals are... and if all they're doing is focusing on the $$$$$... Not good.

Elon Musk agrees with me on this.

100%, well put.

Thank you

 

[mikecarlooch]

- Good CEOs create documented processes and procedures for everything. Bad CEOs just give out instructions...

How do you create documented processes?

Are they important straight off the bat in a business?

 

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[Guest-5ty5s4]

How do you create documented processes?

Are they important straight off the bat in a business?

I could write a whole book on this! I imagine there are already lots of books on it, too.

I would say no, this isn't something needed right away. At first it's just about creating action and momentum. But the sooner you create a system, the sooner you're going to make something truly meteoric. And some systems are better than others.

We use basic word processing and flowcharts.

Have you seen the Ray Croc movie?

 

[Antifragile]

"Apparently, patience and willpower, even creativity, are exhaustible resources. That’s why so many busy and powerful people practice mind-clearing meditation and stick to rigid daily routines: to minimize distractions and maximize good decision making." (Shane Snow, Smartcuts)

 

[Antifragile]

"Too many salesmen, I found, would make a good presentation and convince the client, but they couldn’t recognize that critical moment when they should have stopped talking." (Ray Kroc, Grinding It Out)

Ray Kroc was a vey effective CEO.

 

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[Antifragile]

"“Generally speaking, if you’re gonna make something ten percent better than the way things currently are, you better be great in sales and marketing, because you’re gonna have to talk people into changing their behavior for a very marginal increase in value,” explains Astro Teller. “If, on the other hand, you make something ten times better for a large number of people—you really produce huge amounts of new value—the money’s gonna come find you. Because it would be hard not to make money if you’re really adding that much value.”" (Shane Snow, Smartcuts)

I do not believe that your interpretation for @NeoDialectic and @fastlane_dad applies. I am convinced that as savvy businessmen, both of them wanted to have a 10x better than alternative products. It is not through lack of trying that they didn't. They had game excellence and as such, achieved a successful exit at 8-figures. They applied "highest and best use" idea to make it happen.

@mikecarlooch @BizyDad @NeoDialectic

I'll add this... for any current or aspiring CEO, how applicable!

https://twitter.com/i/web/status/1577130288718950400

View: https://twitter.com/visualizevalue/status/1577130288718950400?s=20&t=QUp-4XTQUKyrc52l_fEuug

 

[MitchC]

I haven’t read the thread but I’m going to, I like it so far, thanks @Antifragile

I’ll answer the questions before reading it so my answers aren’t influenced

1. An effective leader never stops doing what? Strategising/thinking/planning
2. What is the CEO's single most important skill? Strategy/vision/focus
3. What is the one job a CEO cannot delegate? Strategy/responsibility
4. What is the leading cause of CEO's errors in judgement? Ego/fear
5. What are CEO's biggest time wasters? Working, especially on something someone else can do/anything that isn’t decision making or delegating/ not being focused with a clear vision
6. What is the single best predictor of company's poor performance? Lack of focus/short term thinking/not providing value or caring about customers
7. What two skills differentiate good from bad CEOs? Focus and vision

I’ve been reading traction by Gino Wickman and I think it’s amazing, I also recently read a book about apple that mentioned Steve a lot. So my answers are definitely influenced by these 2 books.

I know there are successful ceos that are salesman, or very technical, so good ceos can come in all forms, but my answers are still based on what I think is the best.

I would say my answers fit with Steve jobs style well.

I love the story of how when Steve came back, he cut all the products and drew a quadrant on the whiteboard. Pro laptop, consumer laptop, pro desktop, consumer desktop. They then cut everything else and nailed those 4 products 1 by 1. Ultimate focus and vision.

It also sounded like most of his time was spent in meetings reviewing products. People would demo a new feature and he would review it and send them back to make revisions until they were right. Pure decision making and delegating.

The supply chain was a mess so he hired Tim Cook to fix it rather than do anything himself.

Aside from his product launch presentations you never really hear of him showing any interest or working on marketing, seems like he focused on the product and providing value and just let the marketing people do their job.

I’m also reading mindset by carol dweck which is where I got the ego answer from. She has some horror stories in the book of fixed mindset ceos letting their ego destroy companies.

 

[Kak]

"“Generally speaking, if you’re gonna make something ten percent better than the way things currently are, you better be great in sales and marketing, because you’re gonna have to talk people into changing their behavior for a very marginal increase in value,” explains Astro Teller. “If, on the other hand, you make something ten times better for a large number of people—you really produce huge amounts of new value—the money’s gonna come find you. Because it would be hard not to make money if you’re really adding that much value.”" (Shane Snow, Smartcuts)



@mikecarlooch @BizyDad @NeoDialectic

I'll add this... for any current or aspiring CEO, how applicable!

https://twitter.com/i/web/status/1577130288718950400

View: https://twitter.com/visualizevalue/status/1577130288718950400?s=20&t=QUp-4XTQUKyrc52l_fEuug

This reminds me of when I talk about the difference between a marginal improvement and competing with the status quo. Both can be massive business models, but it’s different.

Sometimes a business can be revolutionary enough where you have to get people to change their habits or way of life for a 10x improvement.

Think about the car replacing horses. TV replacing radio. Electricity replacing candles. Or more modern examples like smartphones replacing phones, cameras, music players, and even a lot of computers.

I’m currently in the business marginal improvement and our improvement is efficiency and price on a commodity. In commodities, 5% can mean millions or even billions and 10% could mean you bury competitors and earn monopoly status.

So sometimes, 5-10% better still makes you industry leading and puts you on a positive long term trajectory.

I think the nature of @Antifragile s industry is also a commodity where small improvements can make a big difference.

No matter what, an improvement is easier to sell than a mainline offer.

Now, the inverse of this, slugging it out with a crap offer and trying to pick people up that don’t know about better offers is a terrible business model. I can’t imagine trying to grow a business, long term, that way.

@Ravens_Shadow I wanted to tag you as you built a company that took on the status quo vs a marginal improvement. It would be awesome to hear from you in the CEO corner!

 

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[Antifragile]

I think the nature of @Antifragile s industry is also a commodity where small improvements can make a big difference.

You are correct. In general, we still provide commodity. If you buy our condo, it is not 10x better than the one across the street! Even comparing brand new air conditioned, butler included vs old wood frame is not 10x difference. It is not transformational in that way.

And... it is still important to fight the path to mediocrity!

"Even though copying what’s come before is a guaranteed path to mediocrity, it appears to be a safe choice, and the desire to be safe—to succeed with minimal risk—can infect not just individuals but also entire companies." (Ed Catmull and Amy Wallace, Creativity, Inc.)

Which means that just because I am typically in a "commodity" business, I do see a few opportunities for 10x transformational type changes.

Examples:

1. Transforming land use to its highest and best potential. Example: obsolete industrial close to downtown core - rezone to mixed use (commercial/residential).
2. Developing new communities can be 10x more convenient for residents. Think of a well thought out community live/work/play for families who earn a living with a job.
3. Innovations like WeWork, AirBNB tapping into technology to triangulate new uses for typical real estate etc.

 

[NeoDialectic]

"“Generally speaking, if you’re gonna make something ten percent better than the way things currently are, you better be great in sales and marketing, because you’re gonna have to talk people into changing their behavior for a very marginal increase in value,” explains Astro Teller. “If, on the other hand, you make something ten times better for a large number of people—you really produce huge amounts of new value—the money’s gonna come find you. Because it would be hard not to make money if you’re really adding that much value.”" (Shane Snow, Smartcuts)



@mikecarlooch @BizyDad @NeoDialectic

I'll add this... for any current or aspiring CEO, how applicable!

https://twitter.com/i/web/status/1577130288718950400

View: https://twitter.com/visualizevalue/status/1577130288718950400?s=20&t=QUp-4XTQUKyrc52l_fEuug

I think that we would probably end up agreeing if we spend 20 minutes talking things through and defining how everyone is using each word and idea. Which is a long winded way of saying that most of our disagreements are probably in semantics.

A perfect example:

I can make a copy cat product of something already on Amazon and if I get it ranked above the other product, I will take over alot of it's sales.​

The product is exactly the same and not 10x better. You rightfully mentioned that sales and marketing is what can actually be better then. Fair enough. 10x better or just enough better? It's not an easy question to answer, but an important one to think about as business becomes more and more winner take all.

I think we will find endless examples of businesses that on their face seem just slightly better but with enough discussion I'm sure you may be able to make a great case that some facet is in fact an order of magnitude better.