Tag: Entrepreneurialism

I Don’t Care About My Job

Photo by Airam Dato-on on Pexels.com

In the past year, I have used this phrase three or four times when in conversations with people with whom you would not normally utter those words. I used them with two shareholders, my boss and chairman of the board, and in a job interview.

These are normally words spoken by an employee over a beer with a friend or co-worker while either complaining about their boss or their company, talking about their job search or simply explaining that work is not the most important part of their life.

This article isn’t about all the reasons the companies cause people to feel this way about the hand that feeds them. Rather, it is about why you shouldn’t care about your job, and if you manage people, why they shouldn’t care about theirs. I write a lot about the intersection of human nature and business, and how managing and understanding the basics of human nature is critical to building a culture with structural integrity.

To illustrate this, let’s take a look at Maslow’s Hierarchy of Needs below:

Based on the above, I need my job to cover the most basic needs for myself and my family. Once I have that covered, I want my job for reasons of belonging and self-esteem. I use the word “want” instead of “need” because for some people, those needs are met elsewhere, but since this blog is about business, let’s assume that your job helps contribute to the attainment of this need. If you care about meeting the basic and psychological needs above, you darn well better care about your job or you won’t have one.

However, this hierarchy means there is an inherent conflict of interest between you and your company. That is, as long as your needs trump those of the company’s, you will always be pre-disposed to make decisions in your own self-interest as opposed to what is best for the company. Examples may include:

  • Not speaking up in a meeting when your opinion differs from everyone else’s
  • Not calling out your boss (in private please) when he or she is making a decision that is not in line with the company’s mission
  • Deciding not to stick up for a co-worker who may have his or her back against the wall
  • Not pushing back on your CFO when they are making a decision on a customer that could have a ripple effect that won’t be felt until it is too late

Assuming that your company would not keep you employed if you were not effective and right for the company….stop caring about your job. Let it be known when needed that you don’t care about your job, but rather, you care about the company and will only make decisions that are congruent with the company’s goals.

If you are doing a good job in the first place, one of two things may happen when you stop caring about your job and start acting solely in the best interests of your company. First, your job satisfaction will increase because you won’t mull over throughout your entire commute home what you should have done or said in the management meeting, bitched about it to your partner all through dinner, and thought more about it while trying to be present with your children. Second, if not caring about your job doesn’t go over well in the office, you may end up eventually firing yourself and finding a company where respectful dissent is valued and encouraged because at the end of the day….what’s best for the business is ultimately what is best for all stakeholders.

Structural Integrity

How to build a culture that will enable your business to stand the test of time.

Photo by Les Anderson on Unsplash

The pyramid of Khufu is thought to have been built around 3,200 B.C., and as with all of the other Egyptian pyramids, has stood the test of time like no other man-made structure on earth….and they were built on sand!

For years the pyramid has been a symbol used in business to visually show the characteristics or general steps that need to be taken to reach the pinnacle of success. It is a very effective tool for communicating what needs to be built on what, and what priorities come first in order to reach a goal, whether it is a departmental goal, a company goal or cultural goal. There is always a foundation on which all other layers are built and each layer supports the next until the pinnacle is placed on top. If you work for a company, chances are there is a poster somewhere depicting a pyramid. Here is one I once used to use to illustrate what is most important when it comes to production:

But is it really the best symbol of a business? I don’t think so, and here are some reasons why:

  1. Pyramids are build on sand, sand shifts.
  2. Once the foundation is built, its size is dictated. You cannot add on, and you still need to pay the utilities even if you don’t occupy the whole thing.
  3. As for occupying it…there is only room for one person.

Chances are, you don’t work in a pyramid. You work in a building, whether it is an office building, your home or your neighborhood Starbucks.

The building in which you work must have structural integrity or it will fall down. A great culture is the same…it must have structural integrity. It must have the same basic components of a building to have structural integrity.

It is often said that a great culture is the foundation of a great business. We need to think of culture as an entire building, not just the foundation, for two reasons. First, we work IN a culture, just like we work IN a building. And, second, a structurally sound culture is made up of key components that keep it from imploding on itself…just like a building. To illustrate this, let’s look at the main structural components of a building as they relate to building a great culture. The diagram below is from fema.gov and illustrates this perfectly.

Source: http://www.fema.com

Footers: The Four Absolute Values

The most important part of a building is its footing. The purpose of a footer is to spread the weight of a building across a larger surface and to keep the foundation from shifting. From a cultural standpoint, footers represent The Four Absolute Values. What makes these specific values so important is that, unlike the Operational Values discussed below, Absolute Values take courage to live by. Values differ from company to company, and are meant to be a set of guidelines for how the business is operated. They tend to be words such as integrity, excellence, hustle, creativity, etc. However, these Four Absolute Values must be present as footers in the culture because it is these values that the rest of a culture is be built upon. These values must be lived by top leadership to set an example for the rest of the company. They are “Walk the Talk” values. Without them, dysfunction will eventually breed. When leadership lives by these values, others will have to courage to live by them as well, resulting in trust throughout the organization. The Four Absolute Values are the following:

Transparency. This value is about information (financial, directional, etc). When a company is transparent with its information everyone is on the same page, there is no need for guessing, and rumors. Employees are always privy to the information necessary to understand exactly where the company stands, where they stand in the company, and whether or not the company is the right place for them. Too many times, leadership is not transparent because they are concerned about losing people or hiding things. Newsflash: employees always know what is going on because people talk. Transparency by leadership allows the narrative to be controlled, creates a sense of comfort for all employees, demonstrates trust, and keeps everyone on the same page. 

Integrity. Integrity is defined as “firm adherence to a code of especially moral or artistic values”. It is about doing what is right, not what is convenient for the individual for self-preservation reasons. Although self-preservation is a human trait, if it is engrained in a company’s culture there is no way that all stakeholders will benefit from the company’s results. When integrity is lived throughout the organization, employees know that they can count on their managers and on their co-workers.

Ownership. This is one of my favorites, the importance of which took me years as a young business person to understand and practice. I can recall meetings when the CEO would come down on a VP because of something that happened relative to that person’s department. So many times, I would hear the VP deflect blame to another department or worse yet, to one of their direct reports. This led to a lack of trust by those around that person. If you have read Patrick Lencioni’s The Five Dysfunctions of a Team, you know that a lack of trust is the primary reason for dysfunction. Lack of ownership also leads to something we all hate: more meetings. When Ownership is lived as an Absolute Value by leadership, it provides a space whereby all others are more willing to take ownership without fear. It provides a space where it is okay to admit to a mistake, learn from it and move on. 

Humility. If, like me, you grew up in business in the 1980s this is not a value that we tend to think of as inherent in high-performing CEOs and leaders. However, it is the type of value that is critical in business today, not just for leaders but for entire companies. Humility as a value signifies to the organization that leadership is “free from pride and arrogance” and signifies the same to all stakeholders as well as the outside world. In his book “Good to Great”, Jim Collins refers to the Five Levels of Leadership with Level Five being the pinnacle of great leadership, and where humility is a given. Couple humility with killer instinct and your competitors won’t know what hit them.

Humility is an antonym of “Ego”. Probably 99% of the mistakes I have made in business, and failures I have had in business were because of my ego. Ego can cloud your judgement, it can drive away good employees and can be a huge warning sign to investors. Ego, is what can lead you to ignore the voice in your head that knows what is best and to lead you to not listen to others. On the other hand, Humility is what allows us to listen, it slows us down, it allows us to be considerate of others. Without humility, the other three Absolute Values will be elusive. A good friend of mine in the finance business once remarked that before they invested in a company, they always tried to find out what the CEO’s reputation was like from people like the security guards in the lobby or the people who cleaned his or her office. Did he or she know their names, talk to them, etc? If you are out to quickly build a business, sell it for F.U. money then sail into the sunset, humility may not be that important as a Absolute Value. But if you are trying to build something enduring…it is essential.

As a leader, if you can nurture these Absolute Values in yourself people will stick with you thru thick and thicker, because in return for living these values you will earn the type of trust that lasts a lifetime. Construct the company’s foundation on these footers and there will be no limit to how high you can build.

Foundation: Purpose

Capitalism, without question, has generated and spread more wealth than any other economic system in all of human history. It created an entire middle class in the 1900s, enabled the United States to help the good guys win WW’s I and II, enabled us to spend the Soviet Union into insolvency, and has led to some of the worlds greatest medical and technological advances. There is one problem though: That darn human nature, AKA, Adam Smith’s “Invisible Hand”. Human nature has had the unintended consequence of creating and perpetuating social problems that could have been avoided had businesses always operated for the benefit of all stakeholders and with a pursuit of not just profit, but Purpose.

In 2019 The Business Roundtable issued its periodic “Principles of Corporate Governance” and for the first time since it started doing this in the early 1980s, it endorsed the notion that corporations need to exist not just for the benefit of its shareholders but for ALL STAKEHOLDERS. One hundred eighty-one CEOs signed this document. In signing it Alex Gorsky, Chairman & CEO of Johnson & Johnson remarked about the newly worded governance principles: “It affirms the essential role corporations can play in improving our society when CEOs are truly committed to meeting the needs of all stakeholders

Back to the 1980s: When I was in college recruiters would come to campus for large companies espousing how we could have long and prosperous careers with their particular company. As candidates we just cared about landing a job, landing one for as much money as possible, and one that gave us the best chance of climbing the org chart. In exchange for that, we worked crazy hours, traveled incessantly and put up with bosses who would think nothing of dressing us down in front of our coworkers. Profits and bonuses were all that mattered.

Today, labor is mobile. We live in a gig economy where employers need us more than we need them and where business has the ability to help address some of our biggest social and economic issues in ways government cannot.

Businesses are in the unique position being able to help with these social issues specifically because in business, IT IS about the money. Profits allow for reinvestment in the business, and towards it’s Purpose. This cycle of reinvestment can become a flywheel for Purpose.

Also, money is nothing more than a medium of exchange. When businesses also serve a Purpose, that Purpose itself becomes a medium of exchange. For example, if the Purpose of Dorky Donuts is to help young, disadvantaged African-American children to graduate from high school and attend college or trade school while at the same time becoming a 5,000 store chain in pursuit of Profits, it gets to convert that Purpose into cash and exchange it for the labor of people who want to work at the company, not just because they like to eat jelly donuts and help build a 5,000-store chain, but because the Dorky Donuts’ Purpose is important to them. It is part of the reason they “took their talents” there in the first place.

Authentically pursuing a Purpose as well as profits is critical for attracting and retaining the best talent, and for ensuring that the business is operated for the benefit of all stakeholders. Those stakeholders include not just shareholders, employees, customers, and vendors, but the community at large.

Columns & Beams: Operational Values

Columns and beams are used to support the weight of a building’s upper floors and its roof. They give structure and shape to the building and determine outer limits of the building since they support the outside walls. All business activity is conducted within these columns. 

Operational values are values that describe the characteristics looked for in team members and the way in the company “does business”. They are not Absolute like the footers, and as such, can change as the business progresses thru its life cycle. 

For example, a startup may have survival oriented values as their columns: hustle, fail fast, creativity, and passion. Although I have seen many mature companies that desperately need these startup values, if their culture was great from the beginning, they would have adapted. That said, a large, mature company may have values that refer more to stability while still leaving room for entrepreneurialism.

The number of columns and beams also determines how high the building can be built. With Purpose as the foundation and the Four Absolute Values as footers, there is no limit to how high business can be built.

Exterior Walls & Roof: Mission

All buildings must have exterior walls and a roof. Why? Because they keep the elements from getting in, allow for a regulated environment inside and keep people from falling out. They are boundaries. 

A company’s mission is commonly addressed in its mission statement which refers to three things: what the company does, for whom it does it and how.

Without a mission, there are no boundaries, no sense of direction or clear idea of what the company’s core competencies are. This is most critical for companies in the startup and growth stages of their lifecycle where cash is short, and where potential investors value focus as much as performance.

Windows: Vision

Windows represent the company’s vision, possibility, and creativity. Like windows in a car, they allow us not just to see where we are going, but to decide where we want to go and see who is coming towards us. While mission is who, what and how, vision is “why”, it is the dream that is held in place by the walls.

Mechanical Systems: Business Processes

Without HVAC and electrical systems in a building we wouldn’t be able to see what we are doing, be very uncomfortable doing it, and as such would make a lot of mistakes.

In the culture we have built above, think of these as the business processes that are put in place to ensure the efficient and profitable operation of the business. Lack of good processes can be detrimental to the culture we just finished building and can rot it from the inside out. Process tends to be ignored when building a business or in times of distress, and while they need to change as the company does, they are critical to helping people live and work by the company’s values as well as allowing for efficient operation and maximization of profits.

What about people?

You may have noticed that I left out the notion that people help form a great culture. Well, as Ray Kinsella heard from the voice in his cornfield in the movie Field of Dreams, “If you build it, they will come”. 

That is because if you run a business based on the Absolute Values of integrity, transparency, ownership and humility while serving an economic and social purpose that is maximized by the proper Operational Values and stay true to the company’s mission and vision….you will attract the right people, the type of people who want to be part of something special.

I would love to see how some of my readers can apply this method to create a culture with Structural Integrity. I promise, it will bring to the forefront aspects that you are missing in your culture. It will also bring clarity and a state of tactility to the often nebulous picture of what a great culture looks like. Hit me up at matt@thefailureguru.biz and show me what your cultural model would look like using this tool.

Bests to all of you for a happy, health and prosperous 2020.