176 Lee J. Colan – The Rule Maker and the Specs Guy on Leadership

Show notes from our new Production Assistant – Anna Nygren http://www.annavnygren.com/ 

Twitter – @annavnygren

• Intro and Beginning
• • Doug – “His critics say that even Lee brings order to chaos in the business world.”
  • Lee – “We try to take concepts that leaders and entrepreneurs deal with on a day in and day out basis and translate concepts into actionable steps they could take.”
  • “You really can’t measure and manage a concept.”
  • “We consider ourselves the ‘how-to’ consulting firm.”
• Q & A
• • Doug – “While all of that sounds like a great elevator speech…. what the fuck does that mean? What can I get out of what your company does?”
  • • “Our niche is really helping people execute and implement concepts versus just kind of talk about them, we don’t kind of ‘hand off a deck.’ ”
  • Adherence Equation
  • • “We have a simple model on execution, we call it the adherence equation which says,
    • • Your focus * Your competence * Your passion = Your ability to execute your plans
      • Your focus is about the “what” – what do you do, what do you not do?
      • Competence is about the “how” – so it’s not just your skills, it’s your processes, your metrics, your systems, your language
      • Passion is about the why: it is all about the connections that you are making with yourself, with the bigger purpose”
    • “What is the single thing that is most important to you…and how do you focus on that?”
• Self-Knowledge
• • “The most important form of knowledge is self-knowledge
  • • None of us have all the gifts it takes to run a business
    • “Living in your sweet spot” – That intersection of what you’re naturally gifted at where your interests lie.
    • One of the primary objectives ought to be spending most of your time in things that you love doing”
  • “The more time you can spend in your gifted area, the more your business is going to flourish”
  • “A lot of people have that awareness but then still don’t execute well”
• The Knowing-Doing Gap
• • Doug – “I’m coming to the realization that there is a difference between the psychology of understanding what you are and who you are and the execution of actually putting stuff together.”
  • • Lee – “Yes, the knowing doing gap.”
  • Doug – “There is a difference between what you know and what you do. But is it really that simple?”
  • • “It takes daily disciplines and that is where people fall.”
    • “ You’re “why” has to be bigger than any “but” ”
• Action Item
• • One Thing – “What is the single thing, the one thing that is most important to you by the end of the year?”
  • • “The one thing is defined as even if a lot of other stuff doesn’t get done, your year is still a victory.
    • Here is the other side of the definition though… if you don’t get that one thing done and still get lots of other stuff done, your year is a failure
    • You have to know, when to say no”
  • Tyranny of the Urgent:
  • • “We have this illusion, this perception that things that are in our face – a text message, an e-mail, a meeting – appear to be more urgent but in fact they are not.”
  • “Do it, dump it, delegate it or defer it”
• How to Find Your One Thing
• • “It really is about stepping back.. What do you want your life to look like? And then build your business vision around that”
• Most Important Question
• • “The most important question that often times entrepreneurs forget to answer is, ‘What is the economic model?’ ‘Is there a real viable market for this and how is this going to sustain my life?’ ”
  • “95% of small businesses are done in a year, they’re out… they do not have a financial or business plan”
  • “I manage my own attitude and plant the seeds of success on my own mind.”
• Doug – “How successful are you at getting people out of this stuck-point.. The shittiest place that a business can be in?”
• • The biggest challenge is focus
  • Entrepreneurs are naturally attracted to the different shinny objects – the next opportunity, the next business deal
• Doug – “It is not just about the business, it is about what you want.”
• Winners Always Quit
• • “We get stuck in our approaches to get there.. ‘I want to stay in my comfort zone.’
  • You stay focused on your goal, you don’t quit that… but along the way you might have to quit lots of different methods to be able to get there.
  • If it is not working, I don’t see just giving up on the goal… but we have to be very quick to quit our methods.”
• Doug – “Successful people, motivated people, are they born? Or can you make someone be successful or motivated?”
• • “No matter who we are, we all have a natural gift at some point. If we just let that be, let it sit in a stagnant state, we are not going to be successful.
  • It is 2 components – it is finding your natural giftedness but then honing it.
  • Find where the person is naturally gifted and double down there.”
• Closing Statements
• • “To me, the definition of nice is getting outside of yourself and finding a way to serve others”
  • “Our goal is to just help you elevate your leadership. Leaders are learners.”

Doug- @DJDoug

Strickland- @NiceGuyonBiz

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