Showing posts with label CEO Succession. Show all posts
Showing posts with label CEO Succession. Show all posts

Saturday, April 4, 2009

15 Signs That You're Done Climbing the Corporate Ladder

15 Signs That You're Done Climbing the Corporate Ladder

You climbed the corporate ladder or started your own business. You’ve had your share of success and failure, made a few bucks, made a name for yourself. Congratulations. Now what? I mean, how do you know when you’re done and ready to move on?

Tired old concepts like retirement, even metrics like age and wealth, aren’t as black and white as they used to be. There’s a big world out there beyond the boundaries of your current work life. Maybe you want to do something completely different, something you’ve always dreamt of doing.

I bet a lot of you are thinking about it. How do I know that? Because, it happened to me and a lot of successful people I know. They got tired or burned out. Or they got canned in a tough job market - as good an excuse as any to contemplate what to do next.

But how do you know for sure? Denial, inertia, resistance to change - they’re powerful forces. Sometimes the signs are there but you just don’t recognize them. Fortunately, just like body language, your mind has a way of making its desires known. You need to tap into that; here’s how.


15 signs that you’re done climbing the corporate ladder:

1. Business travel used to be exciting, now it’s just stressful and exhausting
2. You used to enjoy commanding meetings; now it just feels like herding cats
3. Company politics no longer feels like a competitive sport
4. You feel like you’re working just to pay for ever-more expensive “stuff”
5. Punching out that annoying office nemesis is becoming a waking fantasy
6. You’re shooting yourself in the foot all the time and you don’t know why
7. You used to feel compassion for your employees; now they’re just whiny pains in the butt
8. More and more you wonder if this is all there is, if it was all worth it?
9. You think about having an affair just to get some excitement in your life
10. The status of position and buying power no longer satisfies or fills “the void”
11. All the ego stroking is starting to get old and feel disingenuous
12. Operating results are just numbers that affect your compensation
13. You used to feel passion for the business; now it’s just the same old thing
14. You’ve made your pile of gold and now all the fight’s out of you
15. You daydream or fantasize more and more about doing something different

So you’ve got a bunch of these signs and more. Now what? Well, that depends. It depends on a lot of things. Think about it. Spend time with yourself. Be honest with yourself. Bounce it off someone you trust, someone who really knows you. Think of it as a process, a journey, and you’re just at the beginning. Does it feel exciting, maybe a little scary? Good, then you’re on the right path.

Ref: Steve Tobak

5 Classic Boardroom Mistakes

5 Classic Boardroom Mistakes

You’re relatively new to the executive or management ranks and you’re presenting to the board of directors or the executive staff. Everyone you know says, “don’t screw it up,” but what exactly does that mean? Well, this will help.

On second thought, you probably will (screw it up), but you know what? It won’t be the end of the world and you will live to pitch another day. Still, it’s a good idea to at least try to avoid some of the stuff I’ve seen (and done) over the years. These five really happened.


5 Classic Boardroom Mistakes

Think it’s “no big deal.” The CEO walks into your office and nonchalantly says, “You’ve got 20 minutes to pitch your business unit’s plan at tomorrow’s board meeting.” Your near-panic is visible, so he adds, “Don’t sweat it; it’s no big deal.” Just because he says or acts as if it’s no big deal doesn’t mean it’s no big deal. I’m sure his first time was a big deal. Prepare. Know your material cold and be ready for a healthy amount of Q&A.

Walk in with a half-baked plan. Boards are typically comprised of smart, opinionated people who are also former or current executives. If you pitch a half-baked plan, it may get twisted, debated, and mutated to the point where you end up getting a green light to do something that bears little or no resemblance to your original plan. And if it fails, it’s still your plan … and your fault.

Try to out-maneuver a founder. Don’t underestimate the loyalty, power, and sway even a dysfunctional founder may still have with a board that owes its existence - and perhaps riches - to him. Even if you’re the CEO, you can do irreparable damage to your standing or even get fired - which I’ve seen happen. Exercise extreme caution.

Expect the board to actually do something. Never forget that it’s the job of company executives to manage, plan, strategize, make decisions, and of course, execute. The board’s job is to provide oversight, advice, and sometimes, connections. If you need something from them, be clear and upfront about it, but don’t expect much more than feedback.

Pitch a controversial plan without support. I watched a president get shot down by the chairman (who incidentally was right) after pitching a controversial acquisition. It was embarrassing in front of all the officers and directors, but it didn’t have to happen. They had a good relationship; the president should have sought one-on-one feedback prior to the meeting. Rally some support before the meeting for hot or controversial ideas.

By Steve Tobak