Musings from the NAFCU CU Suite

Eisenhower and Leadership; Get out the Vote

Written by Anthony Demangone

During NAFCU's annual conference last week, Tim Harrington gave a wonderful keynote address about leadership and Dwight D. Eisenhower.  It was a wonderful walk through history and leadership. What made Eisenhower such a great leader?  Harrington pointed to seven traits that Eisenhower possessed.

1. Honesty, integrity and sincerity in dealing with people.
2. The ability to plan and to communicate a vision.
3. Selecting staff well and backing them completely – If they succeed, give them the credit. If they mess up, take the blame so they remain “free to make decisions without fear.”
4. Encouraging a close family relationship – Eisenhower’s practice of visiting the troops and relating to them as individuals is now called “management by walking around.”
5. Being optimistic at all times – During World War II, Eisenhower viewed pessimism as anathema to the cause.
6. Having the ability to deal with difficult people – Eisenhower was patient yet decisive, and he always let others have their say.
7. Being humble – Eisenhower “deflected praise to others.”

Attendees picked up a free copy of Tim's new book: Eisenhower on Enlightened Leadership.  If you weren't at the conference, you can purchase the book here.

Here's a picture of Tim and his wife signing copies of his book after his speech.  He signed a copy for me as well.  The inscription gave a bit of advice.

"Be like Ike." 

Looking at those seven traits, that's good advice indeed.

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If you are a regular reader of this blog, you'll know that I'm a big fan of John Spence. He's been nominated as a Top 2012 Small Business Influencer.  John has been a good friend of NAFCU, and he's let me share a number of his thoughts through this blog. If you have a moment, please consider casting a vote for John.

Culture Do's and Don'ts

Written by Anthony Demangone

Culture.  Somehow, companies develop one.  I think we've all felt it at some point.  Perhaps you worked for a company that seemed to have a dark cloud over it.  Or one where everyone had a skip in their step. 

With that in mind, here are two interesting reads.

Do this: Eight Rules for Creating a Passionate Work Culture.

Don't do this: Seven Signs Your Culture is Dysfunctional.

I'll leave you with these questions.

• Does your credit union have a vision of its desired workplace culture? 
• Have you achieved that vision?
• If yes, who is in charge of maintaining it?
• If not, who is in charge of getting you where you need to go?  In other words, who is your Culture Czar?

Have a great weekend, guys. 

Most Things Are Pretty Much Unimportant

Written by Anthony Demangone

I wonder how the stock market is doing?  -click-

Hmmm.  The stock market is up based on Mr. Bernanke's remarks.  I wonder what he said?  -click-

(An email notification pops up, noting that the Nationals offer a 2-1 ticket sale.) I wonder how the Nats did last night?  -click-

Well, let me check email.  -click-

***

This might sound familiar to you.  Unfortunately, it sounds familiar to me.  From time to time, the sequence described above takes hold of me.  I start working on a budget projection, and I end up reading an article about how Spain is considering turning bull rings into temporary basketball stadiums for its 2020 Olympics bid.  Click on the link. It's true.

Or better yet - don't click on that link.  While the story is true, and well-written, I bet that it will, in no way, move you an inch closer to completing any meaningful task that sits on your plate. 

Yet, it can be shocking how much time we spend on things that don't get us what we really want.

That issue is front and center in this blog post (Harvard Business Review).  Greg McKeown argues that we focus on too much, which leaves far too much time for trivial things, and far too little for the vital things in our lives and careers. Here's a snippet...

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None of this would matter if activity and reward were linearly related. But we live in a world where almost everything is worthless and a very few things are exceptionally valuable. This is a counterintuitive idea. After all, the idea that 50% of results come from 50% effort is appealing. It seems fair. Yet, research across many fields paints a very different picture...

Once we unlearn 50/50 logic, a whole set of behaviors become instinctive. We start scanning our environment for what is really essential. We eagerly eliminate the non-essentials. We say no to 1,000 projects in order to say yes to the one that is exactly what we are looking for.

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So, here is an exercise for you.  Create a list of important things that you'd like to complete or improve upon today.  Set it aside.  At the end of the day, ask yourself this: Did you focus on those things?  Or did you let "intrusions" distract you?  And how many of those intruders were important? 

Now, a new day will bring unexpected challenges that must be conquered.  But few of those demands will include Twitter, Facebook, or an article about Spain's bid for the 2020 Olympics.  

Even if it was an interesting article.  Have a great week, guys.

 

Power of the Introvert; See you in Nashville!

Written by Anthony Demangone

Businesses are amazing.  People from different walks of life gather together for 40 or more hours a week to work on common goals. 

While we work together as one company, every workforce is made up by a diverse group of individuals.  We'll have different races. Religions. Backgrounds.  Educations.  Ages.    

My views on diversity expanded a bit when a colleague shared a wonderful video with me.  In it, Susan Cain speaks about the power of introverts.  If you lead people, you need to watch this video. 

In the video, Cain discusses the world through the eyes of an introvert.  She argues that workplaces and schools now cater to extroverts.  The outward mannerisms of extroverts are applauded, while introverts often are seen as meek or shy. 

She also notes that, as employees, introverts thrive in quiet areas and in personal projects.  Their talents, however, don't come out in brainstorming sessions. 

So, I'll leave you with these questions.  Does your workplace value introverts? Does it unwittingly favor extroverts?  Does all of this matter?

Have a great weekend, guys.

***

If you are coming to NAFCU's Annual Conference next week, please stop and say hello.  I'll be here and there, but I'd love to hear from you.  And if time permits, perhaps we could share a cup of coffee.  I'd love to hear your thoughts on people, organizations, leadership, the future of our great industry, and Major League Baseball's decision to add an additional wild-card playoff berth.

Safe travels.

Lessons from the Gray Ghost

Written by Anthony Demangone

I'm currently working in my fourth industry. While this causes my father to shake his head (he worked for the same company for 37 years), I've enjoyed the ride.  Thoroughly. 

That ride allowed me to see how different folks do things, and that has been a wonderful education. Journalism.  Credit unions.  Law firms.  Trade Associations. 

Today's "walk down memory lane" comes from my legal days, when I worked for the Gray Ghost.  (Not John Mosby, the Confederate Cavalryman who remains famous in Virginia.)  No, my "Gray Ghost" was, and still is, David Sarvadi, an attorney at Keller and Heckman.  (He got the nickname, Gray Ghost, because, like Mosby, he was hard to track down and moved quickly.)

I learned quite a few lessons from David, but one of the biggest lessons was handed down via law firm legend. 

David joined the law firm later in life.  He didn't look like a typical "newbie" associate.  He already had a career and ton of experience to go with it. 

Faced with a project, David started assigning pieces of the work to other associates.  They just assumed he was a partner, and they nodded their heads up and down, took the work, and got to work. 

Later on, this all came to light.  A few grumbled...You can't assign other projects to associates!  Well, David did. He needed help, and he got the job done, one way or the other.

The lessons?  The things on our plate may come from a boss or a board.  But once they are on your plate, you need to own them.  Your boss, or the board?  My guess is that they generally don't care how you clean your plate.  They simply want it done... and done well. 

So, while others may have wondered how am I going to get this done, David looked at the firm phone list and started dialing.

Things worked out well for David.  He made partner years ago.

As they say, fortune favors the bold. 

Culture and Kool-Aid; Contest, Anyone?

Written by Anthony Demangone

A picture is worth a thousand words, eh?  

That photo is worth a few more, in my humble opinion.  Lake Placid exploded  (Youtube) as a bunch of college kids knocked off the best hockey team in the world.  

A miracle?  Or fantastic teamwork?  Both? If you research that team, you'll learn that Coach Herb Brooks picked the team in his head before tryouts even began.  And then he systematically broke them down as individuals, until they were a well-oiled team.  

Team first, individual second.  And they all believed in what they were there to do.

What made me think of Team USA?  This post, by Dan Rockwell, in which he talked about talent, beliefs, and commitment.  This section is an absolute keeper...

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Some are too good to deeply believe in an organization’s mission. They’re too talented, too smart, or too proud. They have their own agenda. They feel they lower themselves if they “drink the kool aid.”

“Company men” are looked down on by aloof elites. I’ll take a true believer with average talent over a disconnected hot-shot any day.  (Emphasis added.)

***

Amen, brother.  Amen.  

Have a great weekend, guys.  And here's to true believers.

***

Contest junkies, listen up. Well, only if you're a NAFCU member.  Grab your smart phone or video camera and tell us why you love being a NAFCU member.   In 3-minutes or less, showcase your brightest staff and their creativity and imagination to show us what benefits, experiences or connections you enjoy most as a NAFCU member. The winning credit union will receive a flip video camera and one free registration for anyone at your credit union to our advocacy event of the year – NAFCU's 2012 Congressional Caucus.

The top two videos will be highlighted in our November/December issue of The Federal Credit Union magazine, on the homepage of our website, in a press release and in NAFCU publications, and will be shown during Congressional Caucus, September 11-14, 2012, in Washington, D.C.

It’s easy to enter. Just upload your video to YouTube and send the link to videocontest@nafcu.org. Your entry must be submitted by 5 p.m. (EDT) on August 10, 2012. Click here for official contest rules. Questions?  Please contact Chrysi Lopez at 703-842-2231 or clopez@nafcu.org.

Is low self-confidence the key to success?; Shameless Plug

Written by Anthony Demangone

Occasionally, an article catches my attention, because it runs against conventional wisdom. 

Here is one such article, written by Tomas Chamorro-Premuzic over at the Harvard Business Review. He argues that low self-confidence is the key to success.  

When one pictures successful executives, low self confidence usually isn't in the picture.  Instead, we picture leaders who know what to do, when to do it, and they know exactly why it must be done.

Fiddle-sticks, says author.

Well not exactly fiddle-sticks.  He argues this:

1. Lower self-confidence makes you pay attention to negative feedback and be self-critical
2. Lower self-confidence can motivate you to work harder and prepare more
3. Lower self-confidence reduces the chances of coming across as arrogant or being deluded

He summarizes his thoughts with this paragraph:

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"Low self-confidence may turn you into a pessimist, but when pessimism teams-up with ambition it often produces outstanding performance. To be the very best at anything, you will need to be your harshest critic, and that is almost impossible when your starting point is high self-confidence. Exceptional achievers always experience low levels of confidence and self-confidence, but they train hard and practice continually until they reach an acceptable level of competence. Indeed, success is the best medicine for your insecurities."

***

As always, I urge you to read the entire article. So, loyal readers. Do you buy his argument? Is low self-confidence a key ingredient of success?  Let me know what you think. 

And as always, have a great week, guys. 

***

CFPB Update: By now, I guess you've heard about the CFPB's little gift - the 1000+ page of regulatory proposoals and forms that might turn many mortgage processes upside down. If the whole thing is a bit overwhelming, a good place to start might be NAFCU's webcast tomorrow.  

The webcast originally was to cover regulatory hot topics, and the CFPB's latest action certain seems to fit the bill.  Carrie Hunt, NAFCU's General Counsel and Regulatory Guru, and Steve Van Beek, NAFCU's Compliance Guru, will lead the discussion.  They estimate that they'll spend 30-45 minutes on the CFPB's big mortgage move.  

Again, it might be a good place to start. Consider gathering your mortgage and compliance teams and tuning in.  Sign up here if you are interested.  (You don't have to be a NAFCU member to sign up!)

Questionable Questions

Written by Anthony Demangone

Management is tough.  Everyone knows that.  Much of that involves communication, because management, to a large degree, is communication. 

We should listen to our colleagues.  We should clearly lay out what the job entails.  But communication is a tricky beast.  Where one man sees clarity, another man sees hidden messages and agendas.

Here's one example I heard from someone.  You're in a meeting and someone throws out a nice idea. You want to seem encouraging, so you say - Great idea, Sally!  You then space out for a minute or two, during which time Tom makes a suggestion.  You don't follow up with a That'a boy, Tom! You leave the meeting thinking you've done a good deed, while Tom wonders why you like Sally more than him. 

Ugh.

Like I said, management is tough.

With this in mind, please read this wonderful post about asking questions from Dan Rockwell, a.k.a. the Leadership Freak.  Dan raises an issue that I've missed all too often.  While everyone has heard the saying that there's no such thing as a bad question, there may be exceptions to the rule. Especially with manipulative questions. Here's a snippet from his post...

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Why be concerned about manipulative questions?

Some people ask general questions and then creatively apply responses. They might ask, “What do you think about the Tech Department?” You respond, “They’re improving their turn-around time.”

Your answer becomes, “The boss thinks you’re slow.” Backstabbers and manipulators make us weary. The issues, in this case, are integrity and trust, not questions. Additionally, it’s wise to answer general questions generally.

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The post goes on to give some good advice (as do the comments) on how to ask questions without appearing to be manipulative.  Here's my favorite...

Begin by saying, “I’ve been considering options for the “xyz” project and wonder what you think.” This signals others that you’re exploring.

The post is a good reminder that as a leader, your communications count quite a bit.  Body language. Encouragements, or the lack thereof. And add to that list questions.

Have a great weekend, guys.  

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If you'll be at NAFCU's Congressional Caucus this September, drop me a line. It is a wonderful conference that also serves to remind our elected leaders just how important our industry is to America. I'll be there, in part to fairly compensate a loyal reader who serves as my unofficial editor (my grammar errors are too numerous to list) with a glass of sherry. I hope you can join us, sherry or not.

Five Lessons from my First Year

Written by Anthony Demangone

Last week, during vacation, a few family members asked me about my job.  They recalled that I started in this position roughly a year ago.  

"Are you glad you took the job?" someone asked.  

 Absolutely, I responded.  The job is great, and I'm learning a ton.

"Like what?" 

It was a good question.  Usually, when I say that I'm learning a ton, no one follows up.  But count on family to make you think.  So, what have I learned in my first year?  Outside of the job-related skills, here's how I'd sum it up.

1. Don't overreact.  Living in D.C., you get good at noticing headline risk.  For example, a Congressman may drop a bill to eliminate the Department of Education.   While that sounds drastic, such bills have little chance of becoming law. But they make a nice headline.   As my first year rolled along, events occurred that seemed either good or bad.  Sometimes really good. And sometimes they seemed really bad.  I have learned not to overreact to new developments. Rather, when a potential problem or opportunity occurs, I gather data and review it.  I found that research and critical analysis tend to shrink many problems and windfalls. 
2. Do a background check.  Organizations are funny things. We often do things, without knowing exactly why we do them.  When I assumed the role of SVP-COO, Fred did a great job of telling me the history of this and that.  Why we do this.  And why we never do that.  It was eye-opening. Now, every chance I get, I give as much background as I can. And I ask for background when I get assignments.  When my colleagues know why something is being done, it really helps put things in perspective.
3. Show me the money. There's no way to sugar-coat this.  You have to understand how and when your organization makes and spends money.  I have the honor of signing nearly every check that NAFCU cuts to a third party.  And I say honor seriously.  Because behind every check is an expense report or invoice.  Digging into that kind of stuff helped me understand how money flows around here.  And that has been invaluable. 
4. Beware of the boomerang.  Part of me likes to boomerang projects - turning them around quickly.  But there comes a risk with the boomerang-method.  There were times when I completed a task quickly, but I missed an important error. You do have to give yourself time to read and think.  If your workday is simply a series of boomerangs, strategic thought will be scarce and errors will be plentiful. 
5. Be cool, man.  So much of our success is determined by how well we play in the sandbox.  During the past 12 months, this has become so clear. Crystal clear.  Employees that meet people half-way, have a positive attitude, and are generally nice to work with get so much more done.  The more I can do to support those types of values, the better. 

It has been a fun first year, and I appreciate you willing to join me on the ride.  Have a wonderful 4th of July, folks.