Living to Lead

by Dave Ferguson

You are here: Home / Archives for business growth

Six Elements of Growth

By Leave a Comment

Six Elements of Growth
Image Credit: Shutterstock

Featured article by Dave Ferguson in CEOWORLD magazine. Reprinted by permission.

Whether you’re growing plants, people, business – or all three – you know that growth takes certain elements.

In recent months, I have learned how important the growth hormone is for humans, for example. It is active at relatively high levels for most people until about the age of 25.

 

Then, quietly, it slows, with gradual but little noticeable effect until one day, you realize you’re not as limber as you used to be or your muscles are not as strong as they once were, even though you are working harder than ever on strength training. Maybe you forget a few words here and there, or you just don’t have the stamina to do all that you want to do.

The point is this: when the elements that promote growth are diminished, we start to decline.

  • When a business stops doing what made it grow or loses focus on its core branding, it starts to decline.
  • When relationships are not continually nourished, they decline.
  • When you stop learning new things and keeping your mind engaged, your brain’s ability to function optimally will be impacted.
  • When you stop investing in your team, their engagement will lessen.

Six Elements Required for Growth

Whether you are seeking to grow your influence, your business, or to help those around you grow, you will need these elements.

Grounding

Growth begins with grounding. You plant a seed in the ground. You set something in a place where it can get the nourishment and support it needs to grow. The same holds true for people and businesses. They must be grounded in a place where they get the nourishment and support needed to grow.

For individuals, this involves being grounded on core values – things like faith, health, and relationships nourish body and soul. They give you strength and endurance.

For companies, this is all about values, vision, and mission. It is the foundation from which you grow as a company, and the foundation on which you rely for support as you grow. A company without core values, vision, and mission will wither when the tough times come; but one that is rooted and grounded firmly will be able to stand the test of time.

Regulators

Hormones are essentially human regulators. These ingenious little elements influence everything we do, how we move, and even how we think and feel. Regulators on an engine control its speed and intensity, keeping it well-paced somewhere between stalled and explosive.

As a leader, you must have and provide regulators in order to be at your most effective level. As an executive coach, I have seen first hand what can happen to a person whose regulators are not in good working order. Their priorities get out of sync. They start to neglect the things that are most integral to their survival – health, relationships, and faith, for example. They power up, full throttle, but without regulatory balance, they end up in my office or on the phone with me talking about their losses and what they can do to regain control of their unregulated life or business.

Businesses need regulators, too, in order to grow. Most call these policies and procedures. Leaders may tend to underplay their importance, but they do so at their peril. These regulators allow the business to grow and remain viable.

Financials are a big area where regulators are a critical factor. It is especially important for individuals and companies to recognize that unregulated spending has its consequences. So does the lack of spending on things like maintenance, operations, and compliance.

Creating and managing revenue is key. The importance of this is underscored in a Federal Reserve Report noting that “44 percent of all respondents could not cover an unexpected $400 emergency expense.”  (By the way, if you are one of these people, talk to me. I can help you.)

This is not just a personal problem. Businesses can be operating on dangerous margins as well. Closely regulate your income and expenses and keep your debt to equity ratio in check.

Oxygen

Three Minutes. That’s how long the average person can live without oxygen. Without this critical life element, your heart stops beating, and your brain cells begin to die. Within six minutes, your brain will cease to function.

Quite the thought, isn’t it?

Without this one single element, you’re three minutes from a point of no return.

Let me ask you this as it relates to life and growth in other areas besides physical.

How long can you as an individual survive in other areas without fresh air?

How long can a business survive without fresh, new ideas?

It may not be three minutes, but without freshness and newness of ideas, innovation, and experiences, you will reach a point of no return. To grow yourself or your business, take time to recharge and refresh. Go on a vacation. Do a team retreat. Take a walk outside. Brainstorm with those who think outside your normal box.

Water

Humans are composed of up to 60% water. Your heart, lungs, brain, and liver have even higher percentages. It would follow, then, that water is important to life. Dehydration can result in dizziness, fainting, and loss of functionality.

In life and business, energy is expended. Yet, energy is needed to function in life and business. This means there must be regular cycle of energy expenditure and replacement. Without times of renewal, your life or business can suffer loss of functionality.

The speed of business being what it is today, many leaders expect their employees to be on call, essentially, 24/7. While it may seem to be a way to increase productivity and responsiveness, very often the effect is the opposite. It depletes the energy of the team.

The cure? Take a break. Celebrate wins before moving on to the next big thing. Determine boundaries and set the example for following them. Take time every so often for a “digital detox” and encourage your team members to do the same. Do something different, or do something you must do…differently.

These types of activities help refill the tank of energy that is critical to your team’s performance.

Tending

Tending is an interesting word. It is essentially the work of paying attention to needs.

People and results thrive with proper attention.

This means if you delegate something, trust your team to do their job, but continue to give it and them the attention needed to grow. Delegate, don’t abdicate. If you have a responsibility, give it attention. If you have a bank account, give it attention. If you own a home, well, you know what happens if you don’t give it attention.

Tending applies to everything you own, everything you do, and every area of your life. If, at this point, you are thinking this is an overwhelming responsibility, then it might be time to simplify some things and to evaluate your priorities. If you have more than you can give attention to, it’s time to start saying, “No” to some commitments that no longer fit your vision, goals, and values.

Harvesting

Growth is intended for harvesting. In fact, harvesting allows for new growth, in addition to supplying the needs of others.

Growing must have purpose.

Do you have a business? How will your growth impact you and your employees, customers, vendors, and community?

Do you want to improve your health? What is the purpose? How will your good health impact your life and the lives of others?

Do you want to grow your bank account? Focus on your “why.”

Growth alone is not enough. Growth with a harvest is a necessary and welcome cycle of life and business.

 

And now for the tough questions…

  • Do you have these growth factors in your life?
  • Do you have them in your business?
  • Do you have them in your relationships?

In each area of life, in order for you to grow, you must have these six elements. Check in regularly to ensure you and your team are well-equipped for growth!

Dave FergusonDave Ferguson is “The Leaders’ Coach”, an internationally recognized executive leadership coach, speaker, facilitator, and author. Are you interested in talking to Dave about coaching or having Dave speak to inspire and motivate your team? “ASK COACH DAVE” at 704-907-0171 or at Dave@AskCoachDave.com.

Good Growth, Bad Growth

By Leave a Comment

Good Growth, Bad Growth
Image Credit: Shutterstock

Featured article by Dave Ferguson in CEOWORLD magazine. Reprinted by permission.

Growth is a necessary part of life. It has been said that if you are not growing, you are dying.

We grow food. We invest money so it will grow. And we want our children to grow into driven, responsible, and successful adults.

Growth is a good thing.

Unless it is not.

Weeds also grow. Debt and deficits grow. And there are all kinds of bad health habits that result in growth as well.

Like anything in life, growth can be good or bad.

Now the good news is, to a large degree, you can usually determine the direction of growth by the actions you take.

There is wisdom in the adage, “Train up a child in the way he should go.” In this context, it is like training a small tree. When it starts out, it is weak, and even a light wind could knock it over. To prevent this, you plant it at a good depth, and you tie it to a stake to give it strength and support.

Often as adults, we forget that we should still be growing and training ourselves in the way we should go.

What stakes do you have in place to support your growth?

Here are some stakes that will help you continue to grow in the right direction.

Stake #1: Values

Values anchor you. When you must make a decision or are faced with a situation, solid values will keep you from becoming uprooted. Furthermore, they will give you a basis for how you design each day. Ask yourself at the end of each day, “Have I lived according to my values?” And as you plan for the next day, week, or month, “How will I live according to my values?”

For example, if good health is a value, what are you doing to promote that value…TODAY? Not next month or next year, but TODAY. If a profitable business is a value, what call or visit are you going to make today? If family is a value, look at your calendar. Is your family on the calendar today?

Stake #2: Habits

If an unsupported tree is battered daily from a strong northwest wind, the tree will be permanently bent. It will grow, but in the wrong direction.

This is why the stake of constant habits is important. This stake provides daily reinforcement against the winds of life. Good habits create a good life. Bad habits can destroy it. Make your habits good ones and apply them daily.

“Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.”  –

Stephen Covey, The 7 Habits of Highly Effective People

Stake #3: Goals

Instead of New Year resolutions, perhaps the question to ask is, “How can I grow this year?”

Consider each area of life: physical, mental, spiritual, vocational, relational, and financial. How can you grow in each area?

Setting these goals and aspirations gives life and work great purpose.

  • How will you grow?
  • How will your relationships grow?
  • How will your business grow?
  • How will your team grow?
  • How will your financial assets grow?

These are targeted questions great leaders ask themselves and others frequently.

The key with goals is to make them specific and measurable. “Someday” is not specific enough. “I should” is a pretty good guarantee that you never will. But if you say, “I will lose ten pounds this month, and here is how I am going to do it and why it is important to me,” your chances of reaching that goal are quite high.

Stake #4: Accountability

Leaders who grow value accountability. They know that being highly accountable to themselves and others increases the likelihood of them forming good habits, reaching goals, and living according to their values.

  • Do you have a solid framework of accountability in your life?
  • Do you have established boundaries that help you know when to say, “Yes,” and when to say, “No?”
  • Do you have a planning system and a way to stay accountable to it?
  • Do you have a trusted coach or mentor who will guide, encourage, and commit to helping you stay on track?
  • Do you have a board of advisors to whom you are accountable in business, even if you are the leader?

The choice is yours. You will grow. The question is, “Will you choose to drive these four stakes deep enough to help you grow in the right direction?”

Dave FergusonDave Ferguson is “The Leaders’ Coach”, an internationally recognized executive leadership coach, speaker, facilitator, and author. Are you interested in talking to Dave about coaching or having Dave speak to inspire and motivate your team? “ASK COACH DAVE” at 704-907-0171 or at Dave@AskCoachDave.com.

Three Ways to Create a Legacy Management Plan

By Leave a Comment

Three Ways to Create a Legacy Management Plan
Image Credit: Shutterstock

Featured article by Dave Ferguson in CEOWORLD magazine. Reprinted by permission.

Several years ago, a rebranding trend made its way into the financial world. “Retirement Planning” became part of “Wealth Management.”

There are numerous reasons this change was made, one of which was the perceived value it created in marketing. Another interesting reason was because companies began to realize that “retirement” was not always the goal; and that using the term no longer resonated with their more active and engaged clients.

What most people desire, at any given point in their career, is purpose and fulfillment. Managed wealth allows them to be able to do what they most desire to do.

The sad part is that most put off the idea of purpose and fulfillment for when they can “retire.” They treat it as a delayed gratification that is only available after decades of doing work that they do not enjoy or find fulfilling.

What if you could have both a rewarding career and purposeful fulfillment in your work?

The good news is…you can. In fact, there are more resources available now than ever to make this possible.

Let’s say, for example, that you want to retire so you can travel. In previous decades, travel was normally limited to short weekend getaways or two weeks a year. Now, however, there are millions of people leading businesses and traveling on a more frequent or extended basis. Technology and the nature of business has made this possible.

For some, making a difference in the lives of others is a compelling passion, yet they have little time to do volunteer work. As a leader, you have a major opportunity to make a difference, not only after your career when you have more free time, but throughout your entire career.

How?

You can make a difference every single day by serving your team. You provide income to families who need it, and help people grow personally and professionally. In fact, leadership done right is one of the most fulfilling professions of all. It creates legacy.

Consider a certain CFO who managed to create a highly profitable company that served a city for decades. This company provided employment, and also created enough wealth to give back to the community. The CFO traveled the world, negotiating deals with leaders of major corporations; but she also was known to frequent the manufacturing floor. Board members knew and respected her immensely; and employees loved and appreciated her for caring sincerely about their well-being.

As she approached her sixties, she began to consider retirement. But given that she had been with the company for decades, replacing her proved to be a challenge. So, she stayed. One year…three years…ten years more. Finally, she was able to retire.

Not long after, she passed away from cancer.

Now some may consider it a tragedy that she had spent so much of her life working, only to have it end so abruptly in the prime years of retirement.

And it would have been tragic, except that she had fully lived every year she worked. She didn’t wait until retirement to spend time with her family, become an artist, write a book, help others, enjoy nature, or travel the world. She did those things while she worked; and in fact, they were integrated into her life on daily basis.

As an executive coach, I meet leaders every day who are sacrificing other areas of life in order to have a successful career. The impact takes its toll on their health, relationships, and their own personal development. These leaders will someday come to the end of a successful career only to learn that they cannot pack a lifetime of purpose into a few short years of retirement.

While there will always be limitations of time, and no one can do everything at once; there are ways to create an intentional life, where you live your values and find great purpose in your life and work every single day.

Here are ways you can create purpose and find fulfillment across your entire life, not just when you retire.

  1. Know your values.

This is foundational. If you do not know your values, you will spend a lifetime in search of an undefined vision. Take the time to define your values. It has the potential to change the trajectory of your life.

Have you taken the time to identify and write down your three to five values?

  1. Intentionally plan each day and week with those values in mind.

My top three values are addressed daily, and I have ways of keeping myself accountable to them. This has created a great sense of fulfillment, which has also carried over into other areas of life. Failing to plan intentionally means you will fall prey to the intentions of others. You will be living their purpose and not your own. Do this long enough, and you will be at the end of your life wondering why you never quite got around to living your purpose.

Do you have a system of intentional planning?

Click here for a complimentary copy of the Playbook for Setting and Achieving Goals.

  1. Live your values now.

As a coach, I can tell quite quickly if someone is going to reach a goal. If I hear the word, “someday,” it is a pretty good indicator that they will never reach the goal.

But if they say, “I am going to write a book. I will write for one hour each day from (date) to (date),” I know that I am talking with someone who is living with purpose and intention. They know their values, have set goals, and are creating a habit to support those goals. In addition, they have made a commitment for accountability. These are all great indicators of success.

Are you taking action NOW to live your values and create legacy?

In addition to your “Wealth Management Plan,” do you also have a “Legacy Management Plan?” Like any investment plan, you get the best results if you start early, make regular deposits, and manage it carefully.

Dave FergusonDave Ferguson is “The Leaders’ Coach”, an internationally recognized executive leadership coach, speaker, facilitator, and author. Are you interested in talking to Dave about coaching or having Dave speak to inspire and motivate your team? “ASK COACH DAVE” at 704-907-0171 or at Dave@AskCoachDave.com.

Crossing the Finish Line

By Leave a Comment

This time of year, in the busy-ness of the holidays, we are also casting a vision for next year and wrapping up this current year. As a leader, I encourage you to watch this short video and consider HOW you are creating the vision…and where you are crossing the finish line with respect to your team.

It’s a short, but powerful message.

 

Looking for a leadership development program you can use with your team? Check out the Boss or Leader: Lead and Learn Kit. It is affordable, effective, and provides high impact. Be a leader who makes a difference! Click here for details.

Dave FergusonDave Ferguson is “The Leaders’ Coach”, an internationally recognized executive leadership coach, speaker, facilitator, and author. Are you interested in talking to Dave about coaching or having Dave speak to inspire and motivate your team? “ASK COACH DAVE” at 704-907-0171 or at Dave@AskCoachDave.com.

Quick Links

About Dave
Coaching
Speaking
Book
Retreats
Blog
Media
Contact

Dave’s Recent Posts

Schedule a Consultation

To schedule a consultation with Dave, click here.


Email: Dave@LivingToLead.com