How To...

Published January 22, 2018
LAGOS (Nigeria): The MTN Group Nigeria headquarters office stands at Golden Plaza in this file photo. If you’re an equity investor, ignore frontier markets at your peril. Some of the key themes of 2018 are unfolding in nations such as Argentina, Kuwait and Nigeria. With the combined market value exceeding $700 billion for the first time in a decade, the frontier group has begun to outpace emerging-market stocks after three years of underperformance.—Bloomberg
LAGOS (Nigeria): The MTN Group Nigeria headquarters office stands at Golden Plaza in this file photo. If you’re an equity investor, ignore frontier markets at your peril. Some of the key themes of 2018 are unfolding in nations such as Argentina, Kuwait and Nigeria. With the combined market value exceeding $700 billion for the first time in a decade, the frontier group has begun to outpace emerging-market stocks after three years of underperformance.—Bloomberg

What can you delegate today?

Many of us know the benefits of delegation: It helps teams share the workload so that managers focus on the work only they can do. But in reality, you (like most managers) probably hoard tasks and become a bottleneck. To fix that, start with baby steps. Ask yourself regularly, even daily: “What can I, and only I, do?” If a certain task could be done by someone else, maybe it should be. Try to delegate small tasks that add up to something bigger, or projects that are relatively simple. Also consider time-sensitive work that competes with your other priorities. If you’re still struggling to delegate, try this: For two weeks, make a list of tasks that you might delegate, writing them down as you think of them.

(Adapted from “How to Decide Which Tasks to Delegate,” by Jenny Blake.)

Thinking about timing before setting targets

You’ve probably seen them before — those project spreadsheets in which Year 2 revenue is Year 1 revenue plus 10 per cent, and so on. These projections are rarely accurate, because they reduce the world to linear models — when in reality the growth process is non-linear, sometimes even exponential. Instead of assuming that growth will happen right away, and at a steady pace, think about the likely times at which revenues will be realised. What’s the realistic lag time between initiating your growth project and reaping the rewards from it? Focus on three inputs: the revenue goal for the investment at steady state; the assumed first-year revenue; and the inflection point, which is the time required to reach 50pc of the revenue goal. Unrealistic revenue projections can lead to career-ending misses.

(Adapted from “How to Set More-Realistic Growth Targets,” by Rita Gunther McGrath and Alexander van Putten.)

Are you overusing your strengths?

Most leaders have strengths that make them distinctive. But those same characteristics, when overused, can have a downside. For example, a well-honed sense of self-control can turn into rigidity. Courage, taken to the extreme, might become recklessness. Honesty, if not tempered, can turn into cruelty. It’s worth taking some time to think about which of your skills you might be relying on too much. For example, consider one of your strengths that has served you well at work and has been admired by others. Then try to recall a situation in which you relied on that quality more than you should have. Are there occasions when your strength became a liability, causing more harm than good — and perhaps even leading to an unintended outcome? Keep in mind that we tend to overuse our strengths under stress.

(Adapted from “How to Become a More Well-Rounded Leader,” by Tony Schwartz.)

Don’t solve your team’s problems for them

If your team is constantly bringing issues to you rather than addressing them on their own, you aren’t doing your job as a manager. So only let problems get escalated to you thoughtfully and occasionally. To make sure you’re not stepping in when you shouldn’t, ask yourself several questions. For example, don’t ask “How do we solve the problem?” until you’ve paused and considered “Who should own this problem?” Balance the need to resolve the issue with consideration for how your actions will influence future behaviour. In your desire to help your team, you might be tempted to do more than you should. If others are struggling to solve problems they should rightfully own, always ask: “What is the least I can do?”

(Adapted from “When to Solve Your Team’s Problems, and When to Let Them Sort It Out,” by Joseph Grenny.)

Don’t stress out a boss who stresses you out

No one is their best self under stress — remember this when dealing with a boss who puts you on edge. When your manager is feeling pressure, they’re more likely to display their worst qualities. So don’t make things worse by being a source of stress yourself. If you annoy or upset your manager, or if the work you produce is unacceptable, you can expect the worst aspects of their personality to emerge, which will cause you stress. Do what you can to make your boss’s job easier. Research shows that, regardless of their job and industry, managers tend to promote employees who are rewarding to deal with. So do what you can to be a soothing influence on your boss. It will reduce everyone’s stress levels.

(Adapted from “How to Deal with a Boss Who Stresses You Out,” by Tomas Chamorro-Premuzic.)

Published in Dawn, The Business and Finance Weekly, January 22nd, 2018

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