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NOAH HUNT, from page 9
When combined with communicating clear expectations, great ethics can create a safe and trusting environment for your people. In a safe environment, employees can access the brain’s higher capacity for social engagement, innovation, creativity, and ambition. The neuroscience is clear. If an employee doesn’t feel safe, what gets activated is the brain’s fight-or-flight response, where the amygdala registers a threat to our safety. Arteries harden and thicken to handle an increased blood flow to our extremities. In this state, we lose access to the social engagement system of the limbic system and the executive functions of the prefrontal cortex, inhibiting creativity and the drive for excellence. Utilizing this perspective, making people feel safe should be the number one priority for any true leader. Other competencies that are frequently cited by leaders as having the greatest impact on success include: ❚ ❚ Inspires and motivates others ❚ ❚ Solves problems and analyzes issues ❚ ❚ Drives for results ❚ ❚ Collaborates and promotes teamwork ❚ ❚ Builds relationships ❚ ❚ Develops others ❚ ❚ Has the flexibility to change opinions ❚ ❚ Takes initiative ❚ ❚ Champions change ❚ ❚ Practices self-development Leadership – leadership based on high moral and ethical standards – is a constant process of learning and evolving. Start with this list, perhaps identify a leader you admire and consider a role model, and continue to develop leaders within your organization. If you clearly communicate the expectation that every person within your firm is to perceive themselves as a leader, you will truly see transformational change for the betterment of your organization. PHIL KEIL is director of strategy consulting at Zweig Group. He can be reached at pkeil@zweiggroup.com. 1)How does an owner attract a strategic buyer? “When we buy a company, we always have the exit down the road in mind. It is hard to gauge what a strategic company will want, but most of the time they are buying assets and location. If you have a market position they want and are segmented in a way to provide value to them, then they will potentially look to buy. A financial buyer, like a private equity firm, can help position your company for a strategic sale if you are not quite ready today.” 2)What are some of your firm’s acquisition objectives? “Bow River’s ultimate goal is to make a return on our investment. In doing so, we look to grow the company substantially while in our control, both organically and through additional acqui- sitions. Management of the company is left in the hands of the experts, and we will provide advice where needed.” NOAH HUNT is a consultant with Zweig Group’s M&A services. Contact him at nhunt@zweiggroup.com or at 479.856.6244.
suffers. Similarly, a seller must know the buyer well enough to believe their business and people are better off as part of the acquiring company. They must like and respect the new folks.” Sellers should find out if the buyers know what they are do- ing. How many firms have they acquired and how have things turned out? Try to speak to the previous firms if you can. “The AEC space is highly acquisitive. In that type of environment, a buyer has to state their strategy, in simple terms, and focus only on firms that fit their culture.” Here are a few bonus nuggets of wisdom from Clay Fox, also of Bow River Capital:
PHIL KEIL, from page 11
tend to develop an imposter syndrome, most noticeably in mid- to lower-tier employees within a firm. Imposter syndrome is a psychological pattern in which people doubt their accomplishments and have a persistent, often internalized fear of being exposed as a “fraud” when taking on a leadership role. There are a few simple things that you can do today in order to be seen as a stronger leader, no matter what role you currently fill. The same neurological and psychiatric functions that influence dominance hierarchies can work in your favor to influence behavior and motivate others. Things like standing up straight, dressing well, and continuous learning are simple ways to begin. Take some time for self-discovery and perhaps consider a personality test to help you determine what your individual strengths and weaknesses are. That will set you up well for the more difficult task of developing the necessary skills that will make you a better leader. “Identify a leader you admire and consider a role model, and continue to develop leaders within your organization. If you clearly communicate the expectation that every person within your firm is to perceive themselves as a leader, you will truly see transformational change for the betterment of your organization.” The conventional wisdom is that potential leaders need to focus on different skills within different stages of their career development within an organization, and for good reason. Strategic perspective is also important, and without it, you might have a hard time getting promoted into the highest ranks of any firm. But there is one skill in particular that is fundamental to every level of leadership, one that will not dramatically change as you move up the hierarchy. That skill is the development of high moral and ethical standards. This is more important than anything else you can do and requires serious self-reflection.
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THE ZWEIG LETTER July 30, 2018, ISSUE 1258
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