January 2024 Newsletter
BURNING QUESTIONS FROM THE C-SUITE
From a Right Hand (RH): My CEO asked the team to do something that is totally not realistic. How do I manage expectations?
Instead of asking how to manage CEO expectations, consider asking How can I deliver the most value possible? Delivering value is how you satisfy CEOs.
Say yes rather than no. When given unrealistic instructions, our first instinct is to say, Whoaa, that’s impossible! Instead say, Yes, we can do this. Let me go figure out exactly what we can do and when, and come back to you tomorrow with a plan. Say yes to the assignment without committing to details you don’t know if you can do yet. Give a specific date to return with a plan; this shows you are prioritizing the problem.
Understand the real need. Find out what is driving the CEO to make the assignment in the first place. What risk or opportunity are they responding to, and what is causing the urgency? The Right Hand should give the CEO what they need, not only what they ask for. You’re not paid to simply accept assignments. You’re paid to make a difference in the business, so you need to be able to sleuth out real needs quickly even when they’re not obvious based on what the CEO said. Ask questions like these: Can you tell me more about the problem you’re trying to solve? What changes in the business when this assignment is done right? Why is this a priority now? (Reminder to say yes to the assignment before you ask clarifying questions, otherwise you seem resistant.)
Make a plan. Decide what you think needs to be done to meet the need. What actions should be taken by whom and in what order? Your list does not need every action the CEO mentioned, and it will likely include things they didn’t ask for. That’s fine. It needs to be a good list of actions people will actually take to address the real need. Maybe include short-term things to address the urgency while you build a more permanent solution. Estimate durations for the actions, and if needed, split the overall timeline into phases, such as “we’ll do these two things in December and these three in January,” so everybody can see tangible progress along the way.
Be quick about it. The CEO will operate to their own plan until you replace it with a better one. Don’t be slow. If you want to steer the specifics of the assignment, come back ASAP with proposed deliverables and timelines and negotiate with the CEO until you’re in agreement about the scope. (Reminder: CEO has the final word.) You’ll have to estimate but your best guess will be closer to reality than how the assignment started. The CEO will be happy to see that you and the team are ready to implement their vision.
Get the work done. Do the actions in the agreed-on plan. Report status and milestone completion regularly. You will be solving an important business problem and also demonstrating that you can understand CEO needs, organize work for yourself and others, and get things done.th it. Your goal should be to make it feel right for right now. Later will take care of itself. It always does.
FAMOUS RIGHT HANDS
Charlie Munger was down-to-earth, pragmatic, and known for his one-line takedowns of anyone and anything that seemed foolish to him. (He once called crypto "rat poison.") Charlie died this past November, at the age of 99, after serving as the Right Hand to CEO Warren Buffett of Berkshire Hathaway for over 45 years. Charlie and Warren together turned Berkshire into the most successful investment firm in the world.
Most of us won't work with the same Right Hand or CEO for decades because even great combos usually have a shelf-life. But maybe we can learn from how Charlie and Warren argued, or more specifically, didn't argue. Buffett said they argued with other people, but never each other. When they disagreed, they respectfully figured it out.
Warren must have been pretty good-natured though because Charlie would often say, "You'll end up agreeing with me because you're smart, and I am right."
Source: NBC Los Angeles, November 29, 2023
WHAT CAN WE DO FOR YOU?
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SAVE THE DATE
Excited to be partnering with the most excellent Andrea Rishmawi and Joanna Murphy at One Eighty Collective to bring you more content for Getting the Right Hand Right. First up will be a webinar, hosted by Itivate, next month for CEOs wondering if they need a second-in-command to help them expand, sell, or retire. Coming on Feb 27 at 11:30am Mountain Time. If you've been to one of my 3-hour workshops, this won't be a repeat. More specifics on how to hire, when/whether to hire, and what to look for.
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