Unlocking Success By Overcoming The Five Temptations Of A CEO
Here is HOW to avoid the 5 traps that most CEOs fall into
In this post, I will revisit the five traps that most CEOs fall into and provide advice on how to avoid them.
This post can be read in 5 min.
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Ten years ago, before I became an investor, my dream was to become a startup founder.
I asked around for the most influential book recommendations, and one clearly stood out and had a profound impact on me: "The Five Temptations of a CEO" by Patrick Lencioni.
The story is so relatable, it will make every CEO or Fund Manager tilt. If you're leading a team, you're likely dealing with various temptations that could derail your success.
1) Choosing Status over Results
It's easy to get caught up in your own achievements and protecting your own status, but you need to make sure your company is getting results. Results should be the most important measure of personal success.
Ask yourself: “Do you personally consider it a professional failure when your organization fails to meet its objectives? Would it bother you greatly if your company exceeded its objectives but you remained somewhat anonymous relative to your peers in the industry?”
2) Choosing Popularity over Accountability
As a leader, you have to give your direct reports performance reviews and constructive feedback, even if it's not all sunshine and rainbows. Don't chicken out of tough conversations because you don't want to ruffle any feathers.
Work for the long-term respect of your direct reports, not for their affection.
Ask yourself: “Do you often find yourself reluctant to give negative feedback to your direct reports? Do you water down negative feedback to make it more palatable?”
3) Choosing Certainty over Clarity
Sometimes, you have to make decisions without all the info, and there's a chance you'll be wrong. But it's better to take a risk than to wait forever and freeze up. And if you do mess up, own it and explain why you made the call you did.
"You can’t move forward in the face of uncertainty if you aren’t willing to make mistakes.”
Sometimes you will need to boldly admit, “I was wrong.” When you do, say those words with pride. These words are a sign that you can make tough decisions with limited information rather than wavering in a sea of uncertainty.
Ask yourself: “Do you prefer to wait for more information rather than make a decision without all of the facts?”
4) Choosing Harmony over Productive Conflict
It's cool to want everyone to get along, but sometimes you need some conflict to have useful discussions and make hard choices. Don't be afraid of disagreement and conflict, but make sure it's helpful and not personal.
Most people, including CEOs, believe that it is better for people to agree and get along than disagree and conflict with each other. That is how they are raised. However, harmony sometimes restricts ‘productive ideological conflict,’ the passionate interchange of opinions around an issue.
Ask yourself: “Do you prefer your meetings to be pleasant and enjoyable? Are your meetings often boring? Do you get uncomfortable at meetings if your direct reports argue?”
5) Choosing Invulnerability over Trust
Good leaders aren't afraid to admit when they're wrong and ask for help. They know that the best way to get results is to put their weaknesses out there and ask others for help.
Ask yourself: “Do you have a hard time admitting when you’re wrong? Do you try to keep your greatest weaknesses secret from your direct reports?”
CONCLUSION
Avoiding these mistakes takes some work, but it's crucial if you want to be a successful leader.
These behaviors are difficult to master not because they are complicated but because each presents us with a corresponding temptation, a natural tendency toward human fragility.
The greatest challenge of being a CEO, or any leader for that matter, is to avoid getting trapped by the daily complexities and details of our ‘business.’
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