Wisdom is the Power to…

…put our Time and our Knowledge to the Proper Use.

Time Management is one of the more important and popular leadership topics I am asked to speak about in my seminars. Knowledge, as a function of effective decision-making and communications, is integrated into nearly every workshop I facilitate. It occurs to me addressing both in the context of the quote by Thomas, J. Watson, former Chairman and CEO of IBM made sense in today’s time and knowledge strained business environment.

We’ve all heard the expression “Time is Money”. We know money is either spent or invested. When we invest money we expect a return on our investment. When we spend money, we consume what we buy as a one-time event. Time is no different in the sense that it, like money is either spent or invested. When we spend time, we never get it back as it is a one-time event. When we invest time, we have an expectation of some level of return for the time invested. The difference between spending time and investing time is the presence of goals. When time is used towards accomplishing our goals, we are making an investment in our personal and professional future. When we do not have goals, time used is spent on one-and-done events, which literally do little to advance our future.

We live in a world that is information-rich and knowledge-poor. We can get content from anywhere through the wonders of modern technology and the plethora of data sources available to us in real time. However, it takes a level of understanding and time to put the content into a context resulting in sustainable leadership decisions. It is knowledge which helps leaders know when and where to effectively leverage their leadership skills. When leaders rely only on information, as far too many do in my experience, their decisions have limited effectiveness for their organization. True knowledge-based decisions and communications provide deeper meaning and understanding for all in the organization.

The implication to today’s leader is clear. They are increasingly challenged where they invest time and deal with volumes more information to convert to knowledge than existed in the days of Thomas J. Watson. However, the need to properly invest time and knowledge has never been more important. The key element to both is having clear, written goals that align to the leader’s purpose and vision in a very specific, measurable and time-bound manner. In this way, time is invested towards goal achievement and only relevant information becomes knowledge to achieve desired results.

It is wisdom that forms the foundation of sustainable leadership. Wisdom based on the effective investment of time and the efficient use of knowledge to become life-long leaders. How are your goals taking you down the road to Wisdom?

Lead Well!

Being “Above Average” is to Success...

...what being “Above Ground” is to Living.

This quote is from Jay Niblick’s book “What’s your Genius” I previewed in the November 2010 issue of “What to Read”. It struck a chord with me when I first read it and as I sat down to pen this issue on achieving success, it resonated once again. I believe it speaks to success being more than just getting by, much like truly living life being judged by more than simply standing upright and breathing.

What I find interesting is how much less I hear the term “Success” now than I typically did last quarter. A quarter ago, which to many was the end of their fiscal year, I heard many variations of “We succeeded because...” or “Look what we did to succeed”. What I hear little of now are phrases like, “Here’s what we will do to succeed” or “Our success looks like...” It is as if we only feel comfortable talking about success after it happens. We seem less comfortable planning for success and overtly stating how we will achieve it. Too often we throw together a loosely defined plan and hope it works.

As we find our rhythm for 2011, here is how we can definitively achieve success both professionally and personally. It all begins with goals. Not just any goals, but ones that carry meaning in the context of what you want to achieve. Many of our readers are familiar with SMART (Specific, Measurable, Attainable, Realistically High and Time Bound) Goals. I would take it a step further and suggest they be WAY-SMART (Written, Aligned, Yours, SMART) Goals.

Having goals help you identify what you want to do and why you want to achieve them. However, you also have to be capable of achieving success. Do you possess the skills (the know how) required to be successful? Additionally, do you have the knowledge (the know when and know where) to use your skills in their proper context? We spend a good deal of time, many times the majority of our time, developing our skills and knowledge, believing they will help us achieve our goals and ultimately be successful.

But is it enough? Not really. One only has to listen to the battlefield of broken resolutions that typically show themselves this time of year. With great intentions so many set goals to improve themselves aptly equipped with the skills and knowledge to do so. Yet by late January or early February, they begin to break down. What’s missing? It is our attitude that makes the difference. It defines our want to achieve our goal and be the success we have pictured in our mind’s eye. While attitude contributes nearly 75% of our success, how much time do we spend developing our attitude? Probably significantly less than 75%! Instead, we continue to invest heavily in skills and knowledge hoping they will make up the difference. They won’t!

The right combination of Goals, Skills, Knowledge and Attitudes provide us our greatest opportunity to create a future of success. In a Victor Hugo quote forwarded to me recently, he states, “The future has many names. For the weak, it means unattainable. For the fearful, it means the unknown. For the courageous, it means opportunity.” Do you have the courage to live more than just “above ground”?

Lead Well!

Information is Knowing a Tomato is a Fruit…

…Knowledge is Knowing not to put it in a Fruit Salad.

In a previous edition, we discussed the relationship between Information (organized data) and Knowledge (information in context). I bring it up again not to highlight the contents of a fruit salad, but to highlight a much more crucial issue for leaders – timely decision-making. In my work with leaders, we describe the first two steps in the decision-making process as 1) Identify the Issue and 2) Gather and Analyze Information. The decision-maker must properly define the scope of the problem, situation or challenge in enough detail to create tangible alternatives. They must also gather the right amount of the right information to make a knowledgeable decision. (click here to continue reading)

Information overload is not a new challenge. Lucius Annaeus Seneca was a Senator and Adviser under Nero in the early part of his reign. Seneca was a prolific letter writer whose thoughts, insights and convictions were well read throughout the literate Roman Empire. Even in his day, he noted the issue with connectedness by observing “the danger of allowing others – not just friends and colleagues, but the masses – to exert too much influence on one’s thinking”. Without mentioning these words were written around the time of Christ, you could easily assume it was written recently.

To the decision-maker, it is no longer just a task to find the relevant information to use, but to weed out and discard the unnecessary information and do it at the speed of competition. No easy task when the amount of information available to us doubles every 9 – 10 minutes (depending on which study you read). The proliferation of Twitter, blogs, Facebook and texting contributes to this informational tsunami. They also create a greater challenge analyzing the volume of information as messages become shorter and cryptic (Twitter reports over 2 billion tweets a month) at the same time ensuring they are factually correct. We now get billions of messages just to tell us someone, somewhere created a message earmarked for us to read. Last month, AT&T sent 1 billion such messages over its network up from 400 million a month 11 months ago.

As I look at the impact this phenomenon has on our decision-making process as leaders, I see less contingency planning due to the instantaneous nature of technology and less reflection on the meaning of information to create sustainable knowledge. I recently observed a customer in a local Subway sandwich shop dictating multiple orders to the person making the sandwiches. After each order he went back to his phone for the next order. I wondered to myself if that person were in a business environment and had to remember multiple facts, would that be his way of managing information?

Seneca wrote “Elite, literate Romans were discovering the great paradox of information: the more of it that is available, the harder it is to be truly knowledgeable. It was impossible to process it all in a thoughtful way.” As leaders striving to make effective knowledgeable decisions about your business, how many tomatoes are in your fruit salad?

Lead Well!

Are we there yet?

How many times have we heard that refrain from our children (or maybe from our significant other!?!) when their impatience got the best of them? Or maybe we’ve said it ourselves in different situations for the same reason. In most cases, it is because they don’t have a sense of time or speed relative to setting correct expectations of arrival.

In the business sense, whether for-profit or non-profit, we find ourselves either half way through our operational year or possibly just beginning a new one. We are likely compiling data telling us how well our business has performed over the last 6 months because of that natural halfway or transition point. Or are we? This issue focuses on the all-important role of measurements as a crucial element of effective business alignment. We are talking about not only what we measure on a regular basis, but also how we measure what we do in order to make informed business decisions.

The first place to start is to be clear on what we are capturing and the usefulness of what we capture. There are essentially 4 levels of “stuff” we measure, Data, Information, Knowledge and Wisdom or sometimes referred to as the DIKW Hierarchy. Like many topics in and around leadership, much has been written about these 4 elements so I am going to focus on the salient points of each.

• Data is what we measure directly. It is raw in nature and is the least useful element to making the level of business decisions we need to run our business.
• Information is organized Data. In a practical sense this means we import all the available data into a spreadsheet or database and sort or index the data to make it more useful to making a meaningful business decision.
• Knowledge is Information in context. While Information is useful for many business related decisions, its usefulness is limited without the context around the Information gathered. Knowledge allows us to make informed strategic decisions.
• Wisdom is Knowledge over time. When we apply Knowledge over time we create an environment in which the learning of the organization is exponential due to the richness and usefulness of each decision leading to even more useful outcomes.

So it stands to reason that addressing the Scientific Methodologies in the Business Alignment Model creates an overt means to know if we are capturing the right elements to validate organizational progress. More succinctly, it helps an organization determine if it’s making strategic decisions based on information or knowledge.

As an example, Organization A captured data from expense reduction efforts and compiled the data in a spreadsheet to see if it reduced their expenses to meet a specific target. Organization B also captured data from expense reduction efforts and compiled the data in a spreadsheet in similar fashion. However, organization B will also ensure there were minimal reductions in area critical to its long term Vision and Strategy with the balance coming from less critical parts of the business. Organization A made strategic decisions based on information, potentially crippling their future with across-board-reductions. Organization B made knowledge based strategic decisions and did not lose sight of the contextual impact of their decision. Which organization do you work for?

Lead Well.

Rick Lochner