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Warren Buffett's Career Advice

2009-03-02T15:14:20-05:00

OMAHA, NE - Well, finance jocks, it's here: Warren Buffett's annual letter to shareholders of Berkshire Hathaway. While you can read for yourselves Mr. Buffett's sober predictions of the economy being "in shambles throughout 2009 - and, for that matter, probably well beyond," finance and accounting job seekers can learn something about how to create real value for their current and potential employers -- now and forever.

It's no secret that stocks took a severe beating last year, and Mr. Buffett's Berkshire holdings were not immune. Yet according to Mr. Buffett, "In good years and bad, Charlie Munger [his long-time business partner] and I simply focus on four goals:

maintaining our company's Gibraltar-like financial position, which features huge amounts of excess liquidity, near-term obligations that are modest, and dozens of sources of earnings and cash;
widening the “moats” around our operating businesses that give them durable competitive advantages;
acquiring and developing new and varied streams of earnings;
expanding and nurturing the cadre of outstanding operating managers who, over the years, have delivered Berkshire exceptional results.

The proof of this approach is in the pudding: Over the last 44 years, Berkshire Hathaway's book value per share has grown from $19 to $70,530, a rate of 20.3% compounded annually.

Question for you finance job seekers: Specifically, HOW have you done these four things in your previous jobs? Can you quantify your contribution in each of these four areas?

You are making a terrible mistake if you think these things are "too high level and abstract" for you to impact! Over the last five years, I have made a small fortune pulling executives out of Dell Computer.

Why Dell? Because a long time ago, Michael Dell was smart enough to tie every Dell employee's bonus to Return on Invested Capital (ROIC) -- the single metric that mattered most to Dell's customers, and therefore, to its stock holders. By aligning his employee's behavior to the expectations of his customers and stock holders, Mr. Dell created a perpetual motion machine fueled by the self-interests of every single stakeholder. That's not a bad thing. That's a great thing!

According to Mr. Dell's book Direct from Dell [which I strongly endorse] ...

ROIC became a focusing device. We introduced it in 1995 with a company-wide push to educate everyone about the benefits of a positive ROIC, with articles in the company newsletter, posters, talks by managers, and "Messages from Michael" devoted to the topic.

We explained specifically how everyone could contribute: by reducing cycle times, eliminating scrap and waste, selling more, forecasting accurately, scaling operating expenses, increasing inventory turns, collecting accounts receivables efficiently, and doing things right the first time.

And we make it the core of our incentive program for all employees. We decided to to reward employees around a matrix of ROIC and growth and higher performance directly attributed to higher ROIC -- which came back in the form of higher compensation.

BOTTOM LINE: Dell executives know how to create value for ALL company stakeholders -- both internally and externally, up and down the value chain -- and that's what today's employment market will pay for. That's what it needs now more than ever! You can stick a Dell executive in just about any company and they will find a way to organize their teams and activities around those things which create value. Clients LOVE this trait, and I have the check stubs to prove it.

So finance job seekers, here is one finance job search rule that you must obey:

DO NOT TRY TO SELL ABSTRACTIONS IN A DOWN ECONOMY!!

Your value to employers has to be obvious. It has to be easy to explain, understand, and verify. Trust me, business owners are scared to death. They are afraid of President Obama's approach to taxation, and they have NO idea whether the business environment will recover this year ... or the next ... or ever. Fear, uncertainty, and doubt dominate the current climate. Business owners have a bunker mentality.

Accordingly, you MUST make business owners understand why they are better off investing their hard earned cash in YOU rather than keeping it under a mattress.

You are at great risk if you fight me on this one. This is the new reality. It's a cold as hell world out there, and whether you work for a company or not, you are in business for yourself. It's time you started thinking of yourself as someone else's investment.

Goldman Sachs

2009-01-15T11:25:31-05:00

Young Chuck moved to Texas and bought a donkey from a farmer for $100.00. The farmer agreed to deliver the donkey the next day.

The next day he drove up and said, 'Sorry son, but I have some bad news, the donkey died.' Chuck replied, 'Well, then just give me my money back.' The farmer said, 'Can't do that. I went and spent it already.' Chuck said, 'OK, then, just bring me the dead donkey.'

The farmer asked, 'What ya gonna do with him? Chuck said, 'I'm going to raffle him off.' The farmer said 'You can't raffle off a dead donkey!' Chuck said, 'Sure I can Watch me. I just won't tell anybody he's dead.'

A month later, the farmer met up with Chuck and asked, 'What happened with that dead donkey?' Chuck said, 'I raffled him off. I sold 500 tickets at two dollars apiece and made a profit of $898.00.' The farmer said, 'Didn't anyone complain?' Chuck said, 'Just the guy who won. So I gave him his two dollars back.'

Chuck now works for Goldman Sachs.

Finance Recruitment to Get Tougher?

2008-12-07T19:16:54-05:00

ATLANTA, GA - One wonders what 2009 will bring for finance recruiters: According to the U.S. government, the American economy lost 553,000 jobs in November. It was the largest monthly decline since December 1974, and such losses are not a good sign for the economy.

While President Elect Obama assured viewers today on Meet the Press that we are not headed towards a depression -- it appears to this Atlanta-based recruiter that 2009 could be a real train wreck for the recruitment community.

What do YOU think?

Financial Leadership: "Are you a mentor?"

2008-11-13T07:32:33-05:00

PHILADELPHIA - Yesterday, I was flying to Philadelphia and reading the latest issue of "Success" magazine on the plane (Dec '08).

Several different, unrelated articles caught my eye, primarily because of a common thread running through each one. The magazine issue itself did not have a theme, per se, but I spotted one. It lunged at me. Jumped off the page.

See if you can nail it in these five stories. The same critically important "leader skill" is embedded in each one.

And you need to have it.

First...

Steven Spielberg's creative genius got an early start. When he was just a kid, he created little stories as he filmed family trips, pets and friends.

To encourage him, his parents brought home a projector, rented movies and showed them to neighborhood kids on summer evenings. Enterprising young Steven charged each kid 25 cents admission, and he donated all the money to charity.

This launched his movie career.

At 13, he created a 40-minute film, "Escape To Nowhere". At 16, a 140-minute sci-fi adventure, "Firelight". And when he was a Boy Scout, he borrowed his dad's 8mm camera and made a 9-minute film called "The Last Gunfight", to earn his photography merit badge.

Second...

TV cook Rachel Ray was shocked the day The Food Network handed her a $360,000 contract -- barely 24 hours after she did a brief food segment on the "Today" show.

And she's done very well since, parlaying that into broadcast stardom and guest shots on TV shows all over the dial.

All the while proclaiming she's a good cook, but not a chef, and has no formal culinary training.

She never BS'd the network, nor her audience. Her "everyman" quality, frankly, is just what the TV execs were looking for, and she hit a grand slam with viewers.

Where'd she get that honest streak? From her mother and mentor, who taught her "Decide who you are and don't try to pretend that you're something other than that."

Third...

Advertising mogul and host of TV's hit show "The Big Idea", Donny Deutsch tells of a talent producer for his show who had a dream of starting an image consulting business, but was befuddled on where to start.

Rather than kick her butt out the door for announcing she'd rather be doing something else, he helped her instead. Advised her to take the next 10 weeks to shop for 10 different friends...for free... all so she could build a portfolio of satisfied clients. Then beginning with #11, start charging. A lot.

Twelve months later, she left to start her own company. Deutsch's farewell gift? A segment on his show that rocket-launched her business.

Next...

Mitch Albom, sportswriter for the Detroit Free Press and weekly contributor to ESPN-TV's "The Sports Reporters", has written three books.

Each became a worldwide best-seller. Each got made into a TV movie.

And each one is about his mentors.

He wrote "Tuesdays With Morrie" about Brandeis University sociology professor Morrie Schwartz.

"The Five People You Meet In Heaven" included the protagonist, his Uncle Eddie.

And "For One More Day", his own mom served as the inspiration for the mother character. His two most profound mentors, he says, were his mom and dad.

And finally...

NFL football star Warrick Dunn is considered one of the most charitable athletes in professional sports. He buys homes for single mothers working multiple jobs -- and to date, he has put a roof over the heads of 78 single parents and 205 children.

Wow. That'll activate the tear ducts.

He says none of his sports accomplishments can match the feeling of giving the keys to a home to a woman who has worked her whole life and never been able to afford one.

His inspiration?

His own mom, a Baton Rouge police corporal, who was shot and killed in an ambush while working a second job as a security guard -- leaving Warrick, the oldest at 18, to become man of the house to five younger brothers and sisters. His mother's humble soul and proud spirit guided him in her absence.

She never owned a home. Could never afford the down payment.

He's now fixing that for women just like her.

There. That's all five.

Did you spot it?

Did you see the common thread running through the lives of those five leaders?

It's mentorship.

It's a leader helping someone less skilled, less able, more junior, more unsure. To find her way. To fulfill his dream. To deal with the difficulties of life. Guiding. Teaching. Encouraging. Caring. Setting the table for success. And providing a sympathetic shoulder when plans go south.

Spielberg, Ray, Albom and Dunn each had mentors. And enjoyed the benefit of aid and counsel from a master.

And Deutsch is a mentor. He dramatically improved the life of a colleague. In fact, his TV show has mentorship as its underpinning -- sharing stories of success that encourage others to break the shackles of their own lethargy.

It doesn't get any more personal than mentorship.

It's one-on-one, baby.

I contend that, in all my years on this planet, my greatest personal growth and development, in business and life, has come -- not from books or CDs. Not from seminars or workshops. Not from listening to speeches, sitting in training classes, or attending webinars.

Oh, make no mistake, I'm a high-volume student and user of all those. Have been for 30+ years. And every one has provided me an unending wealth of knowledge, inspiration, and actionable data.

But my greatest leaps in learning...

have come from one-on-one mentorship...
by a trusted leader, friend, colleague, coach, or relative...
in private conversation.

That's where the gold is.

How about you? Take a look at your own life. I'm sure you can point to one or two people who have blessed you with their love, encouragement, and caring guidance.

But let's shift gears to something even more important.

LESSONS & ACTIONS FOR YOU:

What are you doing to actively mentor others?

To inspire their self confidence. To help them identify and live their dreams. To launch them into action. To be their rock of Gibraltar when they stumble and fall.

There are few gifts so precious you can give another. And as a leader, frankly, it's not just a nice thing to do.

It's your obligation.

It comes with the territory of leadership. In my world, if you're not mentoring, you're not leading.

Here are seven suggestions for effective mentoring:

(1) Listen more than you speak. Listen for where the pain is. Listen for where the dreams are. It'll help you make it all about them, not about you. Listening builds trust, and you can't be a successful coach without it.

(2) Emphathize. When your mentee has a setback, it's helpful to share a story of when you faced a similar experience. And how you rebounded. When we hear that our heroes have failed too, it serves as inspiration to get back on the horse and ride again.

(3) Help them find their passions. Not just what they're good at, but what electrifies them with excitement. Lots of people have a talent, but don't enjoy it. You can help them two ways. Find what REALLY turns them on. Or realize the passion they already have for what they do, but just didn't see it. Hold up the mirror.

(4) Show tough love when it's called for. Good coaching requires delivering bad news, too. Holding firm boundaries. Pushing them into uncomfortable terrain. Saying what needs to be said to move them past their roadblocks. Taking the risk they won't come back.

(5) Lead by example. If you recommend one thing, but do another yourself, you're done. Credibility shot. Game over. Walk your own talk. That's the definition of integrity.

(6) Formalize it. Schedule regular time to be with your mentee(s). Don't let it happen by chance -- it won't. We're all too busy. Schedule consistent, regular time each day or week or month. Block it on your calendar. Treat it as one of the most important meetings you'll have. I recommend all leaders have coaching meetings -- not less than monthly -- with each direct report one-on-one. Unplug the phone, take no emails, allow no interruptions.

(7) Make them write it down. Their passions, their values, their goals, their actions, their deadlines. All of it. Don't accept the flimsy "It's okay, I'll remember it" excuse. That's BS. Winners write down their plans and commitments -- it shows laser-focused intent. I've told clients for years "If you don't write it down, you're just screwing with yourself. Get serious, commit it to paper, or let's move on and talk about something that IS important to you."

Like all tasks worth doing, mentorship -- done right -- involves a disciplined, structured process. It ain't happenstance.

Put that structure in place for those YOU mentor. Your employees. Fellow team members. Friends. Children.

Yes, leadership from a distance has value. But limited.

Have the guts to get up close and personal.
__________________________________________________________

Rick Houcek is a regular contributor to FinanceRecruiter.com. Rick facilitates off-site strategic planning retreats, helping CEOs and Leadership Teams create high-impact plans that overcome the crippling effects of lousy execution and get successfully implemented. His Power Planning strategic process drives action through his Escape-Proof Accountability system. It's ideal for small and mid-size businesses. To bring this potent weapon to your team, contact Rick by phone, fax or email. Visit his web site at Soar with Eagles.com. Ask about his 100% No-Risk Guarantee.

New Stock Market Terms

2008-10-10T09:23:24-04:00

NEW YORK CITY - A friend of mine from NYC has just sent me these updated financial terms. The ones for Value Investing and Bull Market are a sad commentary. Sad but true.

CEO -- Chief Embezzlement Officer
CFO -- Corporate Fraud Officer
BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.
BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.
VALUE INVESTING -- The art of buying low and selling lower.
P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.
BROKER -- What my broker has made me.
STANDARD & POOR -- My life in a nutshell.
STOCK ANALYST -- Idiot who just downgraded my stock.
STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.
FINANCIAL PLANNER -- A guy whose phone has been disconnected.
MARKET CORRECTION -- The day after you buy stocks.
CASH FLOW -- The movement your money makes as it disappears down the toilet.
YAHOO! -- What you yell after selling it to some poor sucker for $240 per share.
WINDOWS -- What you jump out of when you're the sucker who bought Yahoo! @ $240 per share.
INSTITUTIONAL INVESTOR -- Last year's investor who's now locked up in a nuthouse.
PROFIT -- An archaic word no longer in use.

Is "Political Leadership" an Oxymoron?

2008-10-08T19:23:52-04:00

ATLANTA - Unless you're living under a rock, you've seen, heard, and felt the torrential media bombardment about the so-called Wall Street bailout.

It has dominated the news for several weeks. Maybe you've felt the sting of the financial crisis in your pocketbook. I hope not.

Anyway, there's a burr under my saddle about this whole bailout thing. And it's instructive for leaders. (No, it isn't the final decision. As I've said repeatedly, I don't use this blog for personal politics. It's about leadership. Period.)

Here's what's enraging me:

A high-integrity leader must make difficult and controversial choices every day. And in the end -- especially in times of crisis -- Job 1 is to make unselfish decisions that serve the greater good. Even if they anger small pockets of people. Even if they piss off influential supporters. Even if they get a carton of eggs thrown at their picture window at 2 am.

And the one thing the high-integrity leader never does is act in his own personal best interest at the expense of the greater good. That's hugely taboo in integrity circles. Oh, to be sure, leaders violate that every day. But I said "high integrity" leaders.

They ... don't.

Yet once again, some of our law-making politicians -- who should be the highest integrity leaders in the land, don't you agree? -- have shown their true colors by doing what's best for themselves, even if it's not best for the country and the citizenry. They proved it with their bailout votes. No, not their actual yay or nay vote ... but their reason for the vote.

Let me explain.

Last week, after the first House vote that killed the bailout package (before the Senate vote that approved it and the second House vote that approved it), USA Today reported that one of the reasons for the "no" votes was... ...political fear.

Four USA Today staff writers collaborated on this front-page story (dated Sept. 30). These reporters did some digging, computed some numbers, made a disturbing discovery, and arrived at a profound conclusion.

Here it is.

Specifically, despite the urgings of their own party leaders -- both Democrats and Republicans who were called to the White House to create a bipartisan bill that would serve the needs of BOTH party interests AND the American people... ...even then... ..."political fear" drove 75% of House members who are in close races in the Nov. 4 elections to vote no.

The important wording there is ... in close races. (The next 3 paragraphs are quoted directly from USA Today.)

"Republicans facing tough re-election challenges deserted their leaders in droves. 32 of 37 Republicans listed as endangered by the non-partisan Cook Political Report voted no, compared with 18 of 29 Democrats in the same category.

On the flip side, 22 of 29 Republicans who are leaving the House this year voted for the bill. 2 of 6 retiring Democrats voted against the bill. (...meaning 4 of 6 retirees voted for.) 'There aren't many vulnerable members who voted yes,' said David Wasserman, House editor for the Cook report. A yes vote, he said, would give 'every opponent a new blistering ad to run against you.' "

Now it's clear.

Wasserman and the 4 USA Today writers came to the same conclusion. That since a high percentage of those in tough races voted no ... and a high percentage of those retiring voted yes ... then it sure LOOKS like many of those in tough races voted in their own self interest, to preserve their re-election bid, and not have to deal with voter backlash.

That's a lousy reason, and it boils my blood. Doesn't it yours?

Further, maybe (just maybe) more of them would have voted differently had their re-elections not been so rocky. Yes, I'm sure one could argue the opposite, but on appearance anyway, that's the conclusion they're drawing. Frankly, it looks the same to me. So how they voted is not in question. But why they voted the way they did, is.

And it's of grave concern. Looks like a case of a vote for "me" rather than a vote for "we".

Translation: they served their own personal self interest, not the greater good, which they were elected to do.

Therein lies my anger. And mistrust.

We elect our leaders with the faith that they will study the issues deeply, then make intelligent decisions on our behalf, not theirs. Why is that so much to ask? Oh sure, I get that there will always be disagreement over which is the "greater good" choice.

Politicians and voters argue that daily. On every issue. But what voters can universally agree on is ... the choice that is clearly NOT greater good is the one that serves only the politician's election status. I also get that this in nothing new.

Since time began, in governments the world over, there has been public outcry against self-serving politicians. And now, in this bailout vote, those House members facing close re-elections seem to have brought the white-hot light of scrutiny on themselves again.

Two key questions:

Would they have voted differently if it were not an election year?
Or if they were not fighting a tight race? Of course, we'll never know. But as the old saying goes, if it looks like a duck and quacks like a duck...Bubba, it's a duck.

Lessons & Actions For You:

In "Good To Great", the best-seller by Jim Collins, one of the characteristic traits of a Level 5 Leader -- the pinnacle position you should be shooting for -- is the willingness to make self-less, rather than selfish, decisions.

For leaders well known to have little or no integrity, we expect them to take the self-serving way out. No surprise. Thankfully, only a small percentage of leaders fall in here. At the other end, the high integrity leaders always decide in favor of the greater good, even when it's not best for them as an individual. No surprise here either. Sadly, this group too is only a small percent of the whole.

But what's maddening -- and deceptively unpredictable -- is that dangerously large group in the middle. The ones who proudly proclaim to be of high integrity, but then occasionally or frequently make selfish decisions -- violating the very ethics they purport to live by. We never know when. We just know we can't trust them. They are consistent only in their inconsistency.

Bottom line to all this is simple. Or should be. Always take the high road.

Here's a simple litmus test. Look at yourself in the mirror and ask: "If I make choice A, who will benefit and who will be hurt? If I make choice B, who will benefit and who will be hurt? If I make choice C, who will benefit and who will be hurt?"

Make three columns on a sheet of paper, one each for choices A, B, C (more if there are additional options). Now divide each of the columns into two, one for Benefit, one for Hurt. Then, start writing.

Want a couple examples of folks who do it right?

Peter Ueberroth, who ran for California governor in the mid-term election a few years ago, bowed out of the race with four weeks to go, behind by a wide margin, rather than engage in the only election tactic that could give him hope of closing a large gap in a short time. Mud-slinging at opponents. As easy as that negative choice is for others, Ueberroth was only interested in running a clean, positive campaign. In dropping out, he decided in favor of the greater good rather than personal interest. A noble choice.

Another... Last week, a client and former Marine told me that in the chow line, Marines with higher rank always eat last. Soldiers who fight the battles eat first. If they run out of food, too bad for the officers. It's part of their code. That's a "greater good" decision, and one I admire.

The question for you is: Which side of the ledger do your decisions fall on? Greater good? Or self interest? If you got fidgety reading all this, squirming in your seat, maybe it's time for an ethics check.

If, on the other hand, you can honestly say you always make greater good decisions ... and a majority of your constituency would agree (heck, there are always a few who won't) ...

Congratulations! You're in a small fraternity of the highest integrity Level 5 Leaders. We need a whole lot more like you.
__________________________________________________________

Rick Houcek is a regular contributor to ManagementRecruiter.com. Rick facilitates off-site strategic planning retreats, helping CEOs and Leadership Teams create high-impact plans that overcome the crippling effects of lousy execution and get successfully implemented. His Power Planning strategic process drives action through his Escape-Proof Accountability system. It's ideal for small and mid-size businesses. To bring this potent weapon to your team, contact Rick by phone, fax or email. Visit his web site at Soar with Eagles.com. Ask about his 100% No-Risk Guarantee.

Executive Search for Finance

2008-05-24T10:52:00-04:00

What We Do ...

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Call us today at (678) 749-7075 and let us show you what we can do for you. Or click here to send us an email.

Rick Houcek: "How Many Tools Are On Your Peg Board?"

2008-05-22T10:10:04-04:00

ATLANTA - On Saturday, I was listening to "Costas On The Radio" the weekly program of one of my all-time favorite sportscasters, Bob Costas, who has now ventured into non-sports broadcasting.

He was interviewing Darrell Hammond, long-time cast member of Saturday Night Live. Costas asked Hammond a thought-provoking question that -- as I thought about it -- had implications for leaders everywhere. Costas was discussing Jimmy Fallon, a fellow SNL cast mate of Hammond, having just been named by NBC to replace Conan O'Brien on The Late Show in 2009 when Conan takes over for Leno on the Tonight Show.

"You've worked with Jimmy Fallon for years," Costas said, "Why do you think he's the right choice to host that show?" Hammond didn't miss a beat. "Because he's a total performer," he said. "I'm not. I'm good at a couple things. I can do good sketch comedy with an ensemble team. And I can do impressions. That's it. But Jimmy Fallon -- he can do it all."

Hammond went on to say Fallon can do sketch, he can do impressions, he can do dialects -- young, middle age, and old -- and he can write comedy too. He simply does it all. He's multi-dimensional. For a comedian, that list is the full monty. When you realize the breadth of Fallon's comedic talents, it's no wonder he got the nod over others.

Simply put, he's a safe bet to nail the laughs and reel in the ratings. It reminded me of a corollary in baseball -- the 5-tool player -- a rare bird indeed. He's the guy who can run, throw, field, hit for average, and hit for power. In the major leagues, he's on the Most Wanted list. Highest paid too. There aren't many.

Most players are lucky to have two or three in their bag of tricks. But to excel at all five is to be the sought-after needle in the haystack. Now ... shift to leaders. And to you.

How many leadership tools are on your peg board? What Jimmy Fallon is to comedy ... and what a 5-tool player is to baseball ... YOU must be to leadership. Multi-dimensional. Multi-skilled. Multi-talented.

Lessons & Actions For You:

Let's say you're highly effective at presentations. Pretty good at working a room. And not bad at leading meetings. But those are pretty much all the arrows in your quiver. You're in trouble.

Or let's say you're the new business closer and exceptionally good at it. You're an accountant or business analyst to beat the band. And you've got a genius for finance. But that's it. You're in trouble.

See where I'm going with this? Let me be more specific: A handful of leadership tools on your peg board ain't gonna cut it. Want proof? Some of the greatest leaders of all time have spoken out on the subject. John Wooden, famed UCLA men's basketball coach, who still today owns more national championships than any other coach living or dead, diagrams 17 critical leader traits in his success pyramid from his book "Wooden on Leadership".

As you read the book, you then realize he's burrowing down even deeper into mini points that, if you're counting, could tally over 60 or 70. Colin Powell, former secretary of state and chairman of the Joint Chiefs of Staff -- in his book "The Leadership Secrets of Colin Powell" -- has 16 chapters, each one digging into an important leadership quality. And inside each chapter, you can flush out more sub-points, for a total of, I'm thinking, maybe 50 to 75 traits.

Jack Welch, legendary CEO of GE, has spoken of more than 30 must-have attributes of effective leaders. In "Robert E. Lee on Leadership", written by H. W. Crocker, there are 11 chapters. Each one ends with a bullet-point list of "Lee's Lessons" that summarizes the content. I counted. Total of 52 behaviors, traits and lessons for leaders.

I could go on, but you get the picture. There's an endless list of books, CDs, courses, workshops and seminars on leadership -- and every author has his or her list of traits. Go ahead. Read, listen to, or attend any one of them. I challenge you to argue with their logic. They ALL make sense. Watch any sporting event. Then watch the post-game interview with the head coach.

In a 15-second sound bite, the astute viewer/listener can grab two or three tidbits of leadership wisdom -- each one a profound lesson on its own.

Bottom line: Leadership is multi-dimensional. And by "multi", I don't mean three or four. Or eight or nine. Or 22 or 23. I mean dozens and dozens. Like courage. Initiative. Integrity. Loyalty. Enthusiasm. Vision. Honor. Serving others first. Trustworthiness. Hopefulness. Goal-oriented. Inspirer of others. Delegator. Risk-taker. And on and on and on.

I've only scratched the surface. If all this scares you -- and it should -- you may want to re-think your leadership role. Make sure you're up to the task, up to the challenge, up to the responsibility. Your followers -- whether they number only one or two -- or as many as 10,000 or a million -- all deserve you to be effective at all the many facets of financial leadership.

No, not a few. Not just the ones you like. Not just the ones that don't upset you. All of them. And the ones you're not good at? Work on them until you are. It's not an option to ignore them. The more you study leadership, the longer will grow your list of critically important traits you must embrace.

Leadership is not for everyone. It's not for the squeamish. Not for those with wobbly knees. Nor the feint of heart. And certainly not for those who intend to just eek by with a couple of key skills, and zero interest in developing the rest. If the pressure of having to be proficient at such a long list of attributes troubles you, get out now, before you embarrass yourself and topple the enterprise.

If, on the other hand, you're energized by it all, you seek to learn more every day, and you're on a non-stop quest to improve yourself and acquire the finance knowledge and skills to lead with honor, dignity and daring ... then you are in the rarified air that the world's greatest leaders have breathed.

Which are you? Let this be your wake-up call to decide. You can't be an effective leader by going at it half-hearted. Wherever you are on the "leadership continuum", you will always have more to learn. Will you? Will you start today?
__________________________________________________________

Rick Houcek, President Soar With Eagles, Inc. To subscribe to his newsletter, please visit Soar with Eagles.com and fill in your name and email address in the upper left of the home page.

Financial Sales Interview Question

2007-09-18T09:02:00-04:00

A friend of mine is interviewing for a new financial sales job. Today he received the following instructions for his upcoming financial sales interview:

Instructions to Candidates for Financial Sales Interview

Assignment: Select a product or service you know well or have sold before. The product need not be related to our financial product or the banking industry. It is best to select a topic that enables you to demonstrate strong product knowledge and confidence.

Prepare a 15-minute presentation intended to educate and convince prospective customers about the benefits of using your product/service.

As part of our selection process, you will deliver your presentation to an audience of 2-3 members of the Financial Sales Management Team, who will play the role of your prospective customers.

Note: Please come ready to present. You will not have time to prepare for this during your visit.

Objective: This is an opportunity for you to demonstrate your skill at presenting product or service information in small group settings. You will be assessed on your performance in six dimensions:

Builds rapport and engages others
Demonstrates product knowledge and personal confidence
Educates the customer
Presents in a focused and succinct manner
Effectively handles objections
Conveys a professional image

Try to close the deal.

Guidelines: Your presentation cannot exceed 15 minutes, so carefully select and narrow your topic. Your presentation will conclude at 15 minutes, whether you are finished or not. There is no separate Question and Answer period, so you will want to build some time for this into your presentation. Seek opportunities for give-and-take with your customers rather than a straight presentation.

At a minimum, please provide your audience an agenda for your presentation. You may use a product sample if demonstration is necessary to your presentation. You may also prepare and use up to two handouts (e.g., related notes or charts) if you wish. Other materials, such as flipcharts or professionally printed brochures, are not allowed.

You may NOT use Power Point presentations.

From The Career Blogs

2007-09-12T15:36:40-04:00

Harry Joiner