Taking Ownership

"That's not my job!" These are not the words a frustrated customer wants to hear while seeking for help from the shop attendant. The customer has no idea what their role is, but the store manager considered him the right person to engage with customers. As the customer’s frustration mounts, they will possibly blurt out "Call your supervisor!" or walk out of the store, never to return. The shop attendant will keep wondering why they never get that promotion. Meanwhile the shop manager is wondering how to fire the attendant for not taking ownership at work!

As I sit through performance appraisal sessions, managers occasionally complain of a talented team member who just won't take ownership of their work. I wondered whether the person understood what taking ownership really means. Performance expectations differ as you climb the corporate ladder. Taking ownership of your work is definitely one quality you need to get work titles with more responsibility and a higher pay.

Can your manager leave a task in your hands with the peace of mind that they can trust you to get it done? Are they confident that you will always come to them with a solution rather than just reporting what went wrong? Taking ownership is believing that getting a task completed is not someone else's responsibility. It's your responsibility and you follow through to its completion. You are expected to take initiative in your work. You are the individual accountable for the quality and efficiency in delivering the work - not your supervisor.

You take ownership of your work when you treat the business you are working for as if it were your own. You think about the customer and understand their needs. You take note of your task in the team assigned the delivery to that customer and the agreed delivery timelines. You then plan to deliver your bit efficiently and help the other team members should they be lagging behind in their tasks. You have an understanding that when the team wins, you win. Your focus is to retain happy customers - happy paying customers sustain the business and in effect, sustain your tenure.

Every business owner seeks out problem solvers in their workforce when shaping the next generation leaders. When you take personal responsibility over your work, you will keep looking for ways to improve on your quality, your delivery turnaround time and remain customer-centric. If you want that promotion to supervisor, ditch that employee-entitlement attitude and run your boss' business as though you owned it! Take ownership even if you don't own it!

Change Your Thinking

I watched my two-year old niece playing with a smart phone. She loves the photo gallery and is most fascinated by the ability to scroll through the album by swiping her finger. She calls out the name of the person in the photo as she scrolls away. She knows how to receive calls too, but her favorite is taking selfies. Entertaining children has significantly changed for this generation - we went out to the playground for entertainment, they get entertained by this small electronic gadgets.

Today we have what we call "throw-back Thursday" - a day of the week when we get nostalgic of the good ol' days. I capture here on this throw-back Thursday a post that I dedicate to my little niece and her generation. She may never relate to the things I will discuss here, but when she grows up she will realise life wasn't always as easy as it is in her generation. It's not just for my niece, it's also for you and me - I challenge you to question your leadership approach as you ingest the reflection on these gadgets. Does your leadership approach need to change?

Alarm Clocks

When I joined high school, an alarm clock was on my shopping list. Every term thereafter, batteries for the alarm clock were a permanent feature on my back-to-school shopping list. This was an important tool for success. You needed it to wake you up for morning preps. (I still wonder whose idea it was to create morning prep? Did it ever occur to them that some students study better at night than in the morning?) You had to set it to ring at a certain hour and switch it on before you retire to bed. It had an annoying ringtone - all the alarms in the dormitory had the same ringtone!

This gadget has been replaced by the smart phone. The flexibility of the alarm clock is incomparable. You can set the alarm clock to wake you up at different times on different days of the week. You can set more than one time for the alarm to go off. It gives you a range of ringtones to choose from and can add vibration mode to it! You can even snooze and present snooze minutes.

Calendars & Diaries

Every Christmas holiday, I recall my father coming home with calendars and diaries from different organisations. Some were his clients, others were suppliers. They had marketing materials printed in the giveaways. They wanted their brand to remain at the top of your mind the whole year round. I loved the themed photos that changed with each calendar month. It made for a great home décor piece!

I find myself continually declining calendar and diary offers today because the smart phone has changed that! Why do companies still print these instead of saving trees? On my phone, I can check what date it is today. I can scroll back to 2 years back or forward. I book my meetings on it and send invites to the meeting participants from it. I can share my calendar with friends and synchronise personal and office calendars. Even if I lose my smart phone, I can always download my calendar entries from the cloud onto my new phone. This was not possible with the good ol' calendars and diaries.

Reading Materials

I remember when I first walked into a library in campus. I was fascinated by the vast array of books and intimidated by the book coding system. You could only check on the shelf if the book you are seeking is available - at times I wasn't sure which library section the book would be. Then if I had to borrow it, there was a system of borrowing. They could only give it to me for two weeks and if I exceeded that, there was a surcharge applied! The magazines were outdated, newspapers tattered from being read by many people, but my worst experience was the frustration of not getting the book you want.

You want to get the latest copy of your favorite magazine or newspaper? The smart phone has an App that can help you with that! You pay an annual subscription and all you need is WiFi. There are Apps to buy books from such as the Kindle. You don't need to move from bookstore to bookstore looking for that book - just search for it on Kindle, purchase it online (it's cheaper and you save trees!) and read it on any gadget that you have synchronised to your account. Read it on your laptop, tablet or phone anywhere, anytime! I still miss the feel of flipping book pages, but the convenience of the smart gadgets is unmatched.

Cameras

We looked forward to Saturday afternoons back in high school. It wasn't just because we got to relax from the studying pressure, but this is when the local photographer came with his film camera. He snapped away as we took different poses and charged a hefty sum for each photo. You only got to receive your printed photo a week later. The photographer was a very powerful man - you only got your photo when he got it printed and after parting with cash!

Forget the film-strip camera - smart phones have changed it all! You can capture a memory as it happens - not just as a still photo, but even as a video clip. You can take a panorama view of that beautiful landscape. You don't need to miss out on the photo, just take a selfie with your friends! Edit the photos with an App, share them on email, or social media sites. You don't need to even worry about the storage space or arranging the photos in albums - you can upload them in a cloud and retrieve them from anywhere.

This article was inspired by a meme I received on my smart phone. It read "Maybe if we convince people that the brain is an App they will begin to use it". Smart phones shouldn't replace our thinking. Seeing this rapid change in the way we get things done on so many day-to-day tools makes me challenge whether we are ready for a change in how we think about leadership. We live in an era where you can work three jobs, run businesses and still keep your day job. Will an 8 to 5 job change into an on-demand assignment? Will concrete offices become obsolete? Will you need to go to class to gain knowledge or can you read upon it on the web?

We must change how we lead as we embrace millennials who have not experienced the old school alarm clocks, beautiful calendars, chaotic libraries or limiting cameras. They think differently, they see more efficient ways to get things done and they have a short attention span. We must get innovative in keeping them engaged. It is imperative to always keep in mind that there could be a better way of doing things. It doesn't mean we discard the old principles, those may not change much, but our approach must change. We must be receptive of new ways.

What do you need to change in your leadership style today?

Conquering Fear

The results of this exam would in a big way define what my future would look like. It was such an important examination – one that would determine what degree I would pursue.  It didn't help that my family had pretty high expectations on my performance in these finals. I am not surprised that I developed ulcers in that final year of high school. I was afraid of failing. Afraid of letting down my family. Afraid of jeopardizing my future. The pressure was real!

This was one of my greatest moment of courage that I recall. I was so full of fear of failure - the stakes were too high! The expectations from my family, relatives and teachers didn't ease the matter. The inevitable was bound to happen. I had to face the examiner and that meant writing twenty-two papers! How would I sit all those papers and still pass each of them well enough to join a prestigious university? Looking back I can smell the fear that engulfed me. More importantly I marvel at my resolve to muster enough courage to face this fear!

As Ambrose Redmoon has said, Courage definitely is not the absence of fear. It is taking a step forward even and especially when you are afraid. Courage is knowing that everything you want is on the other side of fear and stepping forward to face and conquer your fears whether real or imagined. You have to gather the inner strength to face your fear. Bravery is born out of such encounters.

We all face moments in life where fear holds us back - in the family, in school, at work and in business. There are times when we have had sleepless nights worrying about the outcome of something we consider important to us. At work, you may get caught in a dilemma on whether to do what is right at the expense of losing your job. In business you could be faced with the decision to succumb to giving a bribe or lose a huge contract. There are numerous pressures around us that intensify the fear that clouds our decisions.

We can never live without encountering moments of fear. Indeed, most of the moments of my greatest achievements have been preceded by an episode of fear and panic that needed courage. How then can one draw this courage?

Worst Case Scenario Analysis

When paralyzed by fear, take a step back and ask yourself, "What is the worst that could happen?" This question helps you analyze different negative outcomes and establishing which among them is the worst. The analysis gives you the chance to think up the mitigation measures you could take should the worst happen. Most importantly, this analysis helps you calm your nerves. Often you realize there is truly nothing to be afraid of.  

Practice! Practice! Practice!

A task that requires mastery such as a test, a surgery or a sport is one that you must plan ahead of time to get prepared. This does not mean you will not experience the fear, but at the very least, you shall have some confidence that you know what you need to do. Besides, some tension and adrenaline is necessary to keep you alert. When you know that you have made every possible effort to prepare for something that is important, it eases the tension. Needless to say, if you are ill prepared, the tension will multiply and most definitely you are bound to perform poorly. Your worst fears will surely come to pass!

Uphold Your Integrity

In the work environment, whether in employment or in business, there are numerous opportunities for compromise. Imagine yourself being a Compliance Officer and your boss asks you to look the other side on an important requirement. "Nobody will notice it is missing…" he says. At that moment, you think about the lives that could be lost should this process get compromised. You think about how the authorities will come for you when this is discovered. Then you think about the immediate consequence of losing your job should you not do what the boss is asking.

In such a situation, it is easy to succumb to the immediate pressure of losing your job. Courage will mean having to take your chances at losing your job than doing the wrong thing. It will definitely make you unpopular with your boss, but you can be assured that you will retain respect for your decision. There are moments when even your life will be at risk, but courage means upholding your integrity at all costs, costs that could be pretty expensive!

Focus on the Desired Goal

There are situations where fear creeps in because we lost sight of the desired goal. You find yourself worrying about things that are not working as planned. There is magic in keeping your focus on the desired goal and resolving to maintain that focus no matter how long it takes to achieve that goal. When the goal is compelling enough to make you maintain your focus, then you will surmount every inch of fear. The goal will be the fuel propelling you.

Leadership in every sphere requires courage. Sometimes that courage will be costly. Every time your heart is crowded with fear, make the choice to face that fear. Make an analysis of the benefit of conquering that fear and act. You will be surprised that once you conquer the obstacle, you will look back and wonder what you were so afraid of! Be courageous!

Show Me The Ropes

We have witnessed strong visionary leaders in large organisations leaving the multitudes wondering who would fit in their shoes should they be incapable of continuing in their leadership position. It becomes unthinkable that we would consider their replacement. We must recognise that God has designed life such that we serve for a time and a season. There is nothing that exists within time that does not have a beginning and an end - so does a leadership era.

The success of a great leader is measured by the preparedness of their replacement. A progressive leader must intentionally prepare and nurture his replacement to be better and more effective than they have been. Many leaders, especially founders find it difficult to hand over their brain child. They do not believe that there is anyone capable of carrying their vision, leave alone elevating it to greater success.

Why do leaders fail at mentoring?

Leadership gives a sense of power and control. You call the shots, you have the powers to direct, to hire and to fire. This power is highly intoxicating. It is difficult to imagine living without this power and control. Leaders who allow the power to get into their head struggle with the thought of ceding it to a potential protégé. They cannot imagine life void of this control - worse still to imagine a younger person taking away this control would make their heart stop! Literally.

Assuming that you are irreplaceable is another factor that prevents great leaders from mentoring others to take their position. Having steered the company from its infancy to the current day's multi-million dollar organisation with presence across the continent, the leader fails to see how anyone else can hack it to run the company. This false belief that no one can be better at what you do hampers any effort to start mentoring your replacement.

Mentoring future leaders is at times impeded by the incumbent's inability to pass on knowledge and skills. They know what needs to be done and how it needs to be done, but simply do not know how to share it. They lack the patience of training and nurturing raw leadership talent. They simply do not see why the potential replacement just won’t "get it"! They do not appreciate that we all have different styles of learning. They erroneously expect their replacement to be exactly like them.

A common cause of failed mentorship is a lack of trust in others' ability to lead better than we do. A leader holds their initiative or organisation so closely to their heart that they fail to see how anyone else could possibly steer it to greater prosperity. They are blinded to strengths of their potential replacements due to their perfectionist mentality. Nobody seems good enough to take their position. They fail to realise that they went through a learning process, made mistakes on the way and that has built them into better leaders. If only they could consider giving someone else the same chance.

The Effect of Failing to Mentor

Failing to create a mentoring platform sets your organisation for inevitable failure or slowed progress. Should something happen to the leader, making them incapable of holding their office, an intense vacuum is created. Sudden ailment or death of the leader would throw the organisation into confusion if no one has been nurtured to step into their shoes. Often, it would take long to identify a replacement and get them upto speed with performance expectations at the helm of the organisation.

Mentorship helps to nurture passion for a given vision in others. An organisation's vision is the compass that keeps the leadership focused even when they get too engrossed in the floor operation details. When the bigger picture is clear, it makes it easy to put the required effort toward achieving the target despite huddles encountered. This vision is caught rather than taught. If potential leaders in the organisation are not involved in buying into the founder's vision and beliving in it, they would not remain focused on the cause for which the organisation exists to fulfil. Without a vision carrier, it is hard to stay focused when faced with hardships.

Mentoring creates an avenue for followers to take ownership of the organisation's success. Mentorship improves commitment to the cause of the organisation when followers feel valued enough to be let in on the finer details of how the organisation runs. They are able to see how their work fits into achieving the company's goals regardless of how small they think of themselves. Mentoring creates a positive attitude and commitment to the organisation, making it easy to have a formidable force to keep the engine running even when the current leader leaves.

Developing a Mentorship Culture

All leaders must cultivate the habit of thinking generationally. We must think about what it would take for the organisation to successfully outlive our grandchildren. We must recognise and accept that at some point in time, we will have to hand over the leadership reins. What better time to start preparing our replacement for this important role than now? Thinking generationally helps a leader to get over the fear of being replaced by replacing it with the excitement of an opportunity to hand over the organisation to someone better than themselves.

Successful mentorship must be intentional. The purpose of the mentorship process must be clear. Ask yourself:

·         What do we aim to achieve through the program? 

·         How will we identify candidates for mentorship?

·         What character are we looking for in the replacement?

·         How will we implement the program?

Get professional help to set up the mentorship program if you must, but ensure it is in place. Make it a requirement in your organisation that skills and knowledge are passed down seamlessly for business continuity at every level.

Be flexible enough to allow your mentees to make mistakes. Mentorship requires testing your protégé's progress. Seek their view in solving issue. Give them the chance to make contributions toward growing the organisation. It may be hard at first for them to make proposals, but as they get comfortable with you entrusting them with the organisation’s future, you may be surprised at the brilliant ideas they suggest. Get comfortable with letting go and allowing them to have confidence that you will have their back covered even if they make mistakes. Help them to learn through participation.

Finally, you should ensure that your replacement will not need to reinvent the wheel. Generously share the knowledge and skills you have gathered on your way to successful leadership. They do not need to make the same mistakes you made for them to learn. Save them the time to learn the lessons. Aim to leave empty – when you eventually pass the baton, you must be empty. Give all you can to your replacement so they don’t need to start their race from the original start, but from where you ended.

Passive Income

"Go to school, work hard, get good grades and you will have a great job when you grow up!" I heard these words almost every school morning as I prepared for school in a song that brings back interesting childhood memories. Every parent encouraged, begged, bribed and sometimes used excessive force to get this objective achieved. They wouldn't give consideration to your artistic talents or entrepreneurial aspirations - just go to school and get good grades!!! If you want to make your parents really happy, get an invitation letter to one of the ten prestigious National High Schools at that time - and in all thy getting, get into University (not a college or polytechnic)!

I know our parents meant well and they honestly felt that this was the best gift they could ever give us. What they did not quite see was that this was a pathway to one form of income - earned income. The education we obtained did not go a step further to enlighten us on passive income and portfolio income. You probably got a great job, but you are trapped in the rat race system - an over reliance on your paycheck to make ends meet. The cycle is vicious: get the paycheck, pay bills, run out of cash 7 days to the next paycheck, borrow, get the paycheck, pay bills, run out of cash….

Our school system did not have financial freedom in its curriculum. How can I go to work because I love what I am doing and not because my bills keep me awake? How can I quit this job to do what I love without my child's school fees figure or the landlord's face haunting me in my dreams? An elderly friend of mine explained to me a concept that can set you free to be what you what to be. She used the passive income concept as an example.

Passive income is an income received on a regular basis, with little effort required to maintain it. A great example is rental income - whether on commercial or residential property. The landlords receive a steady income possibly on a monthly or quarterly basis. There is some effort needed to maintain the property in good shape, but you don't need to sit outside the shop or house everyday for your tenants pay up. As long as the premise remains occupied, (and your tenants do not default!) you are assured of a steady income.

But how can this give me financial freedom? The first time I heard of this passive income concept and tried to link it to gaining financial freedom, I thought I would have to collect rent in millions. I was dead wrong! My friend explained that if your monthly expenses (bills, fuel, food, clothing, entertainment etc) amount to KSh. 20,000 ($232), it means you are probably financing this from your paycheck (earned income). If you build a resource to provide passive income, say put up two apartments each with a rental income of KSh. 10,000 ($116), your total passive income will be sufficient to cover your expenses. Every morning you go to work, you are free from the pressures of having to earn your living and start living your life! 

You don't need to earn millions to be financially free; you just need to build your passive income to cover your monthly expenses. Your earned income becomes a surplus. It is that simple! Of course there is a lot of work that goes into building such resources and that is why you need to put your investment plan in place. If you want to wake up every morning going to work because you love the job and not the paycheck, you need to start building up your passive income. Set financial freedom as your goal and take action to achieve it from today!

What's Your Money Attitude?

Last night we had an exciting two hour session playing the Cashflow 101 board game by Robert Kiyosaki. It was the first time for most of the players to play this game designed to sharpen our financial intelligence. This game is a fun tool to learn a rather complicated subject in a safe setup.

What fascinated me is how the game brought out each player’s character and attitude towards financial transactions and money in general. The designers of the game say that the attitude displayed in the game is a reflection of one's attitude toward actual money. Here are some of the characters I observed:

There are those that bought all the deals that were drawn. They gambled on every opportunity. It felt like, as long as they had the money, and they could afford the deal drawn, they took it up. It did not matter what the returns were, they just bought it! They were gambling their money if you ask me. I bet if you asked them why they made each of the purchases, they would not have a solid answer. Peer pressure can contribute to such a money attitude - everyone seems to be investing except you. You feel the pressure to invest in anything that comes your way just to be "in the investors' club".

We also had Big Dogs in the house! This lot went for the Big Deals - it did not matter whether they had the money or not. They are not afraid of running into bankruptcy. They are focused on getting out of the rat race as fast as they can. In their mind, if you go for the big deals, they have higher returns. They can easily forget to create a balance to begin somewhere and end up drowning in debt. In life, you need to cut your coat according to your cloth. Just because it takes long to get there, doesn't mean you will not arrive.

The what-if set of players were skeptical towards every opportunity drawn. They worried too much about what would happen or not happen.  They hardly invested in anything one hour into the game! As an investor you must be willing to take risks. They probably hardly invest in anything in real life especially after hearing horror stories of how people (real or imagined) have been conned of their hard earned earnings. They need to learn what questions to ask so that they can make informed decisions.

Then there were those who welcomed cooperation in taking up a deal. The person drawing the card was not selfish and sought for willing investors to get into the deal with them. In the consortium that formed thereafter, some pooled their money based on the decision of the others and did not bother to look at the details of the deal. Ignorance is not a defense - we must seek to understand the deal we want to invest in and not just rely on the person selling it to us. We also have to be creative and open minded - don't just pass a good deal because you are short of resources. It may take extra effort to form the consortium, but if the bigger picture has potential for all to win, then you are better off putting the effort.

There were many more attitudes displayed in the game. The fundamental question however is, what is your attitude toward money? Does your attitude empower you or impede you?

 

Financial Freedom or Bondage?

Freedom is the power or right to act, speak or think as one wants. It is a state of not being imprisoned or enslaved. Financial freedom could be defined as being in a state where money is your servant not your master. Some sources define financial freedom as having sufficient personal wealth to live, without having to work actively for basic necessities. It is a state where one's assets generate more income than their expenses.

Financial freedom is much more than having huge amounts of money in a bank account. It’s the freedom to be who you really are and do what you really want in life. Just because you have a lot money does not mean you have financial freedom. Money does not guarantee your sense of financial freedom. This can be a lot more confusing - if our needs or expenses can be met by money, why doesn't having colossal amounts of money give us financial freedom? It may help to understand financial freedom by studying financial bondage. What is bondage?

Bondage is the state of being a slave. A slave is a person who is the legal property of another and is forced to obey them.  A slave is forced to work excessively hard. Being in financial bondage is being in a state where money (or the need of it) owns you - it forces you to obey its beck and call. As a slave of money you have no choice but to work excessively hard to earn it. Since it is never enough, you have to keep the money-generating engine running. The result - Frustration!

Let's look at some indicators of financial bondage:

Fear

The thought of losing your most prized possessions, does that make us afraid? You own a successful, fast growing business in a certain country and war breaks out. All you salvage is the clothes on your back. Does that make you afraid? Maybe in monetary terms, you are content with living a modest life - roof over your head, decent meal and clothes to keep you warm. A tsunami hits your town and you lose everything. Does the thought of loss make you afraid?

Insecurity

Is your sense of freedom based on a person? Maybe a spouse or your endowed parents? What if your spouse loses his job or your parents decide to donate their wealth to charity? Where does that leave your? Maybe your sense of freedom is in the assets you possess. What if there is an economic crash that devalues them significantly, do you still feel free?

Insomnia

Even the rich suffer from lack of sleep! When you have little to lose you probably sleep better than he that has much to lose. Do you worry about your ability to keep generating money? Does the pressure or need to make more money grip you? It is worse when the loss of sleep is because you are looking at how far back you are at meeting your company's sales targets and what that means to your job security - and the thoughts keep running through your mind till daybreak. And when you sleep, the nightmares are worse!

Anxiety

I know I get this sometimes - you look at the financial obligations and they overwhelm you. Bills to be paid, school fees, the holiday you promised the kids, the lawsuit…. Others allow the anxiety to have a physical toll on them - the psychological torture affects their health.

 Disillusionment

Thinking that a bigger house will bring you joy and lasting fulfillment only to realize that your mortgage obligation just grew bigger and that means you have to work harder. Maybe an expensive holiday on a cruise in the pacific will do the trick. You go on the cruise, but on return the bills need to be paid. Well maybe a bigger car will do - you realize that you cannot afford the insurance premiums for a comprehensive cover, so you go for a third party cover. You are now fervently praying that you do not cause an accident!

I invite you to take with me a journey. We are all at different phases in life, our interests differ, but I am almost certain all of us desire the freedom to live a fulfilled life. We all desire a lasting and true sense of freedom. Walk with me in this journey of discovering financial freedom. I would like to hear from you what Financial Freedom means to you. How did you achieve it? How are you working at achieving it?