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WACUBO Mentoring Program
2016/2017
Program Components and Timeline
In-Person Orientation Workshop – April 23, 2016 in San Francisco
Monthly one-on-one mentor/mentee meetings – May 2016 through April 2017
In-Person Closing Workshop – April 29, 2017 in Seattle (prior to the WACUBO Annual
Conference)
Mentoring Program Goals
The WACUBO Mentoring Program goals include:
Build bench strength in aspiring CBOs/CFOs
Support professional development of the talent pipeline of future CBOs/CFOs
Leverage the expertise and talent of senior CBOs/CFOs
Increase regional member engagement
Reinforce WACUBO as a premier provider of professional development for regional members
Mentee Learning Objectives
Throughout and by the end of the 12-month WACUBO Mentoring Program, mentees will:
Participate in regular mentoring sessions with a senior level CBO/CFO mentor
Engage in meaningful dialogues on topics such as developing as a leader in higher education, navigating change and transitions, building key relationships, and personal branding
Network with other aspiring and existing CBOs/CFOs in the region
Increase engagement in WACUBO
Develop next steps in the career path towards CBO/CFO
Resources for Mentor and Mentee
Mentoring Toolkit
Mentoring Agreement
WACUBO Information
Contact Information
NACUBO Business Officer Articles o Ready to Step Up o Profile of a CBO o Eye on the Presidency
OnCourse Article – The New Higher Education CFO
Executive Book Summary – Becoming Your Best
Mentoring Toolkit
Mentoring Overview
Background
The term mentor originates from Greek Mythology in Homer’s epic poem, The Odyssey, written
near the end of the eighth century BC. In this sequel to Homer’s Illiad, a trusted friend, Mentor,
provides guidance and tutelage to the crown prince Telemachus while the prince’s father, King
Odysseus, serves in the Trojan War. While Mentor guides and educates Telemachus, he also
oversees other aspects of the young man’s life to include social, intellectual and physical.
The word mentor came to represent a wise and responsible tutor – an experienced person who
advises, guides, teaches, inspires, challenges and corrects, and serves as a role model.
Some of the first studies on mentoring were conducted in the private sector in the 1970s. The
early research focused on the newcomer in an organization and mentoring as a way to
assimilate the person into the organization. As external professional development
opportunities became more prevalent, it morphed into a recruiting tool to stimulate interest in
current employees so they would seek advancement and additional responsibilities.
What is Mentoring?
Mentoring, in its truest form, is helping another person learn a task which they would have
otherwise acquired less well, slowly, or not at all.
For many organizations, mentoring is viewed as an important learning tool for newcomers
upon their entry into a profession.
A mentor is someone with knowledge and experience from which one can benefit and who is
willing to share their acquired wisdom.
A mentee is someone who is eager to learn from another to grow professionally and/or
personally.
Mentorship is an important component of building leadership along with recruitment,
retention, promotion, ongoing professional development, and membership in job-related
affiliations.
Much research conducted in business settings has found that mentoring relationships provided
a critical aspect of career advancement and growth for both mentors and mentees.
A successful mentoring relationship is characterized by mutual respect, trust, understanding,
and empathy. Effective mentors are able to share life experiences and wisdom as well as
technical expertise. They are good listeners, good observers, and good problem solvers. They
make an effort to know, accept, and respect the goals and interests of their protégés. In the
end, they establish an environment in which mentees’ accomplishments are only limited by the
extent of their talent and ambition.
Mentoring Toolkit
Mentoring Benefits
Mentee:
Opportunity to grow professionally and gain new skills, knowledge, and expertise
Exposure to new ideas, projects, and challenges
Gain ongoing support and advice from an experienced professional
Build a network of professional contacts
Develop awareness of strengths and growth opportunities
Enhance confidence in dealing with challenges
Mentor:
Gain a fresh perspective on ideas and initiatives
Develop and grow others
Work with employees from diverse contexts and backgrounds
Pass along knowledge and information
Enhance leadership and management skills
Review and validate knowledge, experiences, and accomplishments
Leave a legacy – make a difference
Mentoring Toolkit
Roles and Responsibilities
Mentee:
Be eager to learn and be engaged in the process
Utilize mentor as a sounding board for thoughts and ideas
Actively listen and ask questions
Seek advice and feedback and be receptive of constructive criticism
Be open to honest dialogue and discussion
Assume responsibility for improving skills and expertise
Accept advice with grace and gratitude
Prepare for your meetings with your mentor – time is precious, and the more you invest in
preparing for the meeting, the bigger the return on investment
Keep discussions on track and confidential
Keep mentor informed of your progress, challenges, and successes
Be committed to meeting with your mentor and establish how and when they will take place
Establish goals and an action plan with your mentor
Mentor:
Serve as a trusted and respected advisor
Be available to the mentee and provide guidance and support
Create a supportive and trusting environment
Share life experiences and acquired wisdom
Share lessons learned from own experiences
Help mentee make connections and network
Give feedback regarding goals and ideas
Keep discussions on track and confidential
Show genuine interest
Motivate mentee to do his/her best
Ask thought-provoking questions
Offer options instead of solutions
Wear many hats: role model, confidant, cheerleader, champion, connector, navigator, and
mind-opener
Be committed to meeting with your mentee and establish how and when meetings will take
place
Assist mentee in establishing goals and an action plan
Mentoring Toolkit
Discussion Topics and Conversation Starters
Professional Development and Professional Organizations
Discussion Topics:
Essential Credentials
Ways to Continuously Improve Skill Set
Importance of Broad Experience
Skills needed to be a CFO/CBO
Board Involvement
Volunteer Opportunities
Networking
Conversation Starters:
What are the most interesting aspects of your job?
What led you to where you are in your career?
What kind of educational background do you have?
Do you have experience running major projects?
Have you ever had a mentor? Do you have a mentor now?
What is one thing I can do to ensure a positive experience for you?
What do you want to gain through this mentoring relationship?
What competency would you most like to develop?
What conversations do you have with your boss about your career goals? Is she/he supportive?
What professional development experience was useful for you?
Who are your heroes? How have they impacted your work?
What are some skills that have proven important in your job that perhaps you did not anticipate
needing?
What events or conferences do you attend throughout the year?
Are you seeking out other CBOs/CFOs to develop your creative and entrepreneurial skills?
Do you aspire to become a CEO/President someday?
Mentoring Toolkit
Organizational Structure
Discussion Topics:
Resource Allocation
Budgeting/Prioritizing
Capital Project Management
Debt Management
Endowment Management
Role of Internal Audit
Risk Management
Environmental Sustainability
Treasury Management
Managing Foundations
Information Technology
Facilities Management
Contract Development
Collective Bargaining
Regulatory Compliance
Legal Affairs
Governance
Conversation Starters:
What areas do you currently manage?
What does a typical day look like for you?
Is there communication and collaboration between different departments?
Are you ready to support the work of all the programmatic and administrative functions of a
university/organization?
Do you have exposure to different financial and operational areas and issues? Are you seeking
out different and varied experiences?
Do you understand the impact of changing technology on higher education? Will you be able to
help management navigate the changing environment to ensure the enterprise if positioned to
take advantage of the changes?
Do you understand the roles of other senior leaders? Are you ready to work closely with other
senior leaders?
Mentoring Toolkit
Leading Others
Discussion Topics:
Big Picture Thinking
Leading by Example
Performance Management
Problem Solving
Situational Leadership
Power, Influence, and Integrity
Motivating Staff
Delegating
Conversation Starters:
What leadership skills would you like to develop or improve?
Do you have a role model(s)? If so, who and why?
How do you invest in and support the teams that you manage?
What qualities do you look for in people you hire to join your team?
Will you mentor your direct reports and help them develop their leadership skills?
Do you have experience / Are you ready to work on a broad range of issues with a large number
of people?
Do you have experience managing staff that have had to “do more with less”?
Mentoring Toolkit
Diversity and Inclusion
Discussion Topics:
Recruiting and Retaining a Diverse Workforce
Community Engagement
Multi-Generational Workplace
Building Relationships – Inside and Outside of your Department and Division
Current Diversity Issues in Higher Education
Conversation Starters:
What is the culture in your current organization? How do you, as a leader, influence or create
culture?
Are you ready to handle a significantly wider-ranging role, work with a much more diverse set
of constituents and do you have the broader set of skills to be successful?
Will you work with local community leaderships to share services and find new ways to
collaborate in stewarding resources?
Do you understand and see the big picture of things in your organization? Are you ready to
engage academics, auditors, accreditation agencies, boards, and more?
Do you understand the academic programs of the institution?
What are the unwritten rules of the organization?
Mentoring Toolkit
Quality Improvement
Discussion Topics:
Strategic Planning
Appreciating your Employees
Goal Setting
Mission, Vision, and Values
Motivating Staff
Team Building
Conversation Starters:
What are you doing to develop your strategic and operational thinking? Do you have or have
you considered adding a CFA or pursuing an MBA or finance-specific leadership development
program (if you do not already have one)?
Do you look for innovative solutions whenever possible?
Are you ready to add strategic value and help an organization thrive and grow?
Are you ready to identify and promote strategic initiatives that will benefit the entire
institution?
How often does your team revise/update goals?
Mentoring Toolkit
Success Strategies / Soft Skills
Discussion Topics:
Communicating Effectively
Managing Conflict
Adapting to Change / Change Management
Tackling Tough Challenges
Time Management
Collaboration and Teamwork
Ways to Get to “Yes”
Humility
Mistakes, Obstacles, and Missed Opportunities
People Skills
Stress Management
Managing Complexity Under Pressure
Crisis Management
Managing Up
Work/Life Balance
Conversation Starters:
How would your colleagues describe you?
What three things do you enjoy about work the most? What three things do you enjoy least?
How are you currently preparing yourself for your next step?
For challenging situations, concerns, and issues:
a. What strategies come to mind when looking at this situation?
b. How would you this handle next time?
c. What do you see as possible solutions?
d. What are the pros and cons?
e. What key players can help you achieve the outcome you are hoping for?
f. What resources are available to help you move forward?
g. What can be learned from mistakes and how do you avoid those mistakes moving
forward?
What keeps you up at night?
How are you developing your communication skills?
How do you feel about personal branding?
How do you overcome obstacles?
How do you balance work and life?
Do you take risks?
Are you an active and vocal contributor around the executive table at your organization?
Mentoring Toolkit
Conversation Starters
Questions for Mentee to ask Mentor:
What advice do you have about dealing with leadership transitions?
How do you get exposure to areas with which you are not familiar?
How do you work effectively with colleagues who do not report to you?
How do you work effectively with people whose positions are more powerful than yours –
senior institutional leaders, board members, state legislators, etc.?
With the generational transition taking place in higher education, what are the opportunities
and challenges?
What was one key career choice you made and how did you make it?
In reflecting on your career, what were the three most important skills you needed to be
successful?
What are some misconceptions about career advancement?
What was your best career move? Why was it the best?
How should individuals prepare for their next career move?
How do you cope with the rapid pace of change and the high degree of ambiguity in higher
education administration?
What surprised you about your current position?
What is the one professional skill or ability that you wish you were better at? Why?
As you advance in your career, how do you balance breadth and depth? Is becoming an expert
in a particular area important in the long run? Are there risks in not having a base of expertise?
How do you learn to become a better manager?
How do you feel about personal branding?
How do you manage a broader portfolio when you come from finance?
Mentoring Toolkit
Goals & Action Plan
Setting SMART Goals:
Specific: Make sure your goal can answer the five “W” questions: Who? What? Where? When? Why?
Measurable: It’s important to be able to measure your progress toward a goal, so make sure you set
target dates and specific criteria.
Attainable: Make sure your goals will stretch you while also being within your capabilities.
Relevant: Make sure your goals matter.
Timely: Set a target date for completion of your goals.
Goals
Action Plans
Accomplishments
Mentoring Toolkit
Mentor/Mentee Agreement Form
Dear Mentee/Mentor:
Thank you for participating in the WACUBO Mentoring Program. Throughout this program, we will
support you every step of the way and provide you with the resources and tools you need to make this
program and mentoring relationship a success.
As you enter this mentoring-agreement, we ask that you commit to the following principles:
Confidentiality: what is shared in the mentoring session, stays in the mentoring session
Respect: be mindful of one-another’s time and respectful of thoughts and ideas
Engagement: be dialed in and show enthusiasm for your mentoring relationship
This is a year-long program. Mentors and mentees may choose to extend their relationship beyond the
first year, but the requirements of the one-year program are as follows:
The time commitment for this program is 1-year, May 2016 - April 2017.
At minimum, meetings are to occur monthly
It is with great excitement that we welcome you to the WACUBO Mentoring Program.
Best Regards,
The WACUBO Mentoring Program Committee
Mentor Signature: _________________________________ Date: _______________
Mentee Signature: _________________________________ Date: _______________
Mentoring Toolkit
The Mentoring Process Summary
The Mentoring Process for Mentor and Mentee:
Initial Meeting – Mentoring Program Orientation
o April 23, 2016
Building the Relationship
o Time getting to know one another
o Mentoring agreement
o Setting goals and developing action plans
o Scheduling meetings; will they be in-person, via phone, or via Skype?
o Preferred method of contact
Planning for Each Meeting
o Reviewing goals
o Reviewing Mentoring Toolkit
o Tracking Accomplishments
Taking Action on Goals
Communicating Back to Mentor and Manager
Final Meeting and Evaluation
Determining if relationship will continue and what it will look like
Initial Meeting
Building the Relationship
Planning & Tracking
Taking Action & Communication
Final Meeting & Evaluation
Mentoring Toolkit
Notes
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Mentoring Toolkit
Resources for Further Reading
Ayers, T., & Goldstein, K. (2015). Becoming a Renaissance CBO. Inside Higher Ed.com.
https://www.insidehighered.com/advice/2015/06/05/chief-business-officers-must-broaden-
their-skills-and-roles-essay
California State University San Marcos (2014). Mentoring Toolkit.
Chronus, LLC (2016). How to Start a High-Impact Mentoring Program. http://chronus.com/how-
to-start-a-mentoring-program
Concentrated Knowledge Corporation (2012). Soundview SmartTips: Setting SMART Goals.
www.soundview.com
Eastern Association of College and University Business Officers (EACUBO) (2011). EACUBO
Mentoring Session. Presented at EACUBO 2011 Annual Meeting, “Sweet Ideas for Success,”
(October 30-November 1, 2011): Hershey, PA.
EY Global (2016). The DNA of the CFO: A Toolkit for the Aspiring CFO.
http://www.ey.com/GL/en/Issues/Managing-finance/The-DNA-of-the-CFO
Hawk, L. (2010). The effect of informal mentoring on staff employee performance evaluation
scores at California State University San Marcos. (Doctoral dissertation). Alliant International
University. ProQuest Dissertations Publishing No. 3540275.
Ladd, L. (2013). The New Higher Education CFO: 7 Roles that Break Away from Tradition.
OnCourse: Business Insights and Trends for Trustees and Higher Education Administrators. Grant
Thornton, LLP. http://www.grantthornton.com/staticfiles/GTCom/Not-for-
profit%20organizations/On%20Course/On%20Course%20-%20March_FINAL.pdf
Lapovsky, L. (2016). Profile of a CBO. National Association of College and University Business
Officers (NACUBO).
http://www.nacubo.org/Business_Officer_Magazine/Magazine_Archives/November_2010/Profi
le_of_a_CBO.html
Mees, M. (2009). Effective and Successful Mentoring.
http://www.slideshare.net/michelemees/effective-and-successful-mentoring-
2239120?qid=d408c7dd-4f3d-4efa-8ef0-cc8ea7b0dda4&v=&b=&from_search=1
Ogelthorpe, A. (2013). Tools and Techniques for Mentoring.
http://www.slideshare.net/antoinetteo/tools-and-techniques-for-mentoring?qid=0e1d4424-
1529-4333-b70e-529faa4035c4&v=&b=&from_search=1
Porter, M. V. (2016). Eye on the Presidency. National Association of College and University
Business Officers (NACUBO).
http://www.nacubo.org/Business_Officer_Magazine/Business_Officer_Plus/Bonus_Material/Ey
e_on_the_Presidency.html
Roberson, R., & Terrana, M. (2016). Ready to Step Up. National Association of College and
University Business Officers (NACUBO).
http://www.nacubo.org/Business_Officer_Magazine/Magazine_Archives/JulyAugust_2012/Rea
dy_to_Step_Up.html
Mentoring Toolkit
Thomson, J. (2015). Top of the Class: The Evolution of Campus CFOs. Forbes.com.
http://www.forbes.com/sites/jeffthomson/2015/01/06/top-of-the-class-the-evolution-of-
campus-cfos/#3c4870e96dc3
Turner, M. M. (2004). Mentoring: An Overview. Coach the Coach, 5, 1-4. Fenman Limited.
www.mikethementor.co.uk
University of California Davis Human Resources & Talent Management (2015). UC Davis Group
Mentoring Program (Pilot). www.sdps.ucdavis.edu/dev_programs/mentoring.html
WACUBO Organization
About WACUBO
Since 1937, The Western Association of College and University Business Officers has offered business
officers in the western region opportunities to develop professionally, to identify solutions for issues
affecting higher education, and to share their expertise with their colleagues. Our membership includes
institutions in 14 western United States, three Canadian Provinces, Mexico and other Pacific Rim
nations.
WACUBO is one of four regional associations (Central, Eastern, Southern, Western) making up the
National Association of College and University Business Officers (NACUBO). Headquartered in
Washington DC, NACUBO is well known for its informational resources and professional
representations of the needs and interests of higher education.
Mission Statement
WACUBO 's mission is to offer opportunities to members to develop professionally, to explore issues
and trends in higher education and to engage with colleagues to share their expertise.
Vision
WACUBO will be the premier provider of professional development and networking for business
officers serving higher education in the west.
Values
WACUBO strives to be known as excellent, welcoming, relevant, collaborative, professional, engaging,
innovative, and respected.
Events and Programs
Professional Development Workshops
WACUBO provides a variety of professional development opportunities to meet the needs of campus
administrators in higher education. Professional development programs are designed to identify and
respond to the professional and continuing education needs of WACUBO members through new and/or
revised programs. WACUBO professional development goals are accomplished in a variety of ways
including leadership and management institutes, cluster site programs and the distribution of
educational materials.
Annual Conference
Each year WACUBO holds a general membership conference at various locations within its region. A
member institution located close to the conference site is asked to take a leadership role in planning
the conference.
Business Management Institute (BMI)
BMI, WACUBO's higher education management institute, is designed to deliver the administrative skills
and management concepts needed by individuals who are in the business of higher education. The
multi-track, multi-year, institute has curriculum applicable to the continuum of professional career
levels across college and university management disciplines.
Contact Information
Mentors
Name Institution Phone Email
Mary Ann Rodriguez Linfield College (503) 883-2458 [email protected]
Ron Cortez San Francisco State Univ. (415) 338-2521 [email protected]
Lisa Chavez CSU Los Angeles (323)343-3500 [email protected]
Joyce Lopes Humboldt State Univ. (707) 826-5701 [email protected]
Mentees
Name Institution Phone Email
Lori Seager University of Puget Sound
(253) 897-2720 [email protected]
Matthew Skinner Washington State Univ. (509) 335-1836 [email protected]
Sandra Culver University of Alaska, Anchorage
(907) 317-5068 [email protected]
Stacy Lutz Davidson Colorado College (719) 389-6953 [email protected]
WACUBO Mentoring Program Team
Name Phone Email
Lynn Valenter, WACUBO President Vice Chancellor, Finance & Operations Washington State University, Vancouver
(306) 546-9590 [email protected]
Linda Hawk, Mentoring Program Lead Vice President, Finance & Administrative Services California State University, San Marcos
(760) 750-4950 [email protected]
Robyn Pennington, PDSC Chair Chief of Staff to the Executive Vice Chancellor & CFO Business and Finance, CSU Office of the Chancellor
(562) 951-4552 [email protected]
Carina Celesia Moore, PDSC Member-at-large Director, Talent Management Center of Expertise Human Resources, University of California, Davis
(530) 752-9681 [email protected]
FAVORITES
SHARE
Being a mentor to junior staff is one way CBOs can help their institutions identify and advance new talent.
READY TO STEP UP
New chief business officers from within and outside higher education bring fresh perspectives as they assume their strategic roles. What are the essential qualities they will need?
By Randy Roberson and Maryann Terrana
Increasingly, chief business officers are taking many different pathways to their position. While many come to the role from that of controller, assistant or associate vice president, or director of budget or other finance positions on campus, others have served as faculty, and still others have worked for accounting, health-care, or consulting firms, or have prior experience in governmental or other nonprofit organizations. In fact, according to NACUBO's 2010 Profile of Higher Education Chief Business and Financial Officers, about one third of survey participants held a position outside postsecondary education immediately prior to becoming a higher education CBO.
If there is a "typical" CBO, the 2010 survey indicates it would be a married man with children who is 55 years old, has been in his current position for about seven years, and has spent most of his career in higher education. He perceives himself—and is perceived by his president and other institutional colleagues—to be the primary guardian of his institution's financial resources. He also enjoys a great deal of job satisfaction.
But what the data present as typical may not reflect what is happening in reality. In years past, if one were to look out at the attendees of a NACUBO annual meeting, the audience would have appeared much less diverse than today. Now the trend toward diversity extends beyond the visible demographics of age, gender, race, and ethnicity; the new generation of chief business officers is bringing experiential diversity to the role.
No matter how they come to fill the job, what do higher education chief business officers perceive as the sector's greatest challenges, and what do they consider the most salient advice for those who are joining their ranks? A blend of new and experienced CBOs share their observations for the next generation.
ESSENTIAL CREDENTIALS
Credentials and higher education experience are important, but are not everything. Of the nearly 1,000 CBOs who participated in the 2010 survey, nearly all reported having at least a bachelor's degree and 76 percent have an advanced degree—the most common being a master of business administration. More than one third of survey respondents indicated they hold a certified public accountant credential.
While more than 60 percent of survey participants indicated they have spent at least half their career in higher education, increasingly the participants who attend NACUBO's annual New Business Officers Program are entirely new to higher education. As newcomers, their off-campus experience can prove highly beneficial, since at the CBO level of one's career, these professionals have consciously decided to make a career move into higher education.
Larry Goldstein, president of Campus Strategies LLC, facilitates the Next Generation Chief Business Officer workshop offered by EACUBO and other regional associations. He observes that coming to the CBO role from outside the industry can afford people a more-rounded
FLASHBACK ... 25 YEARS AGOIn the July 1987 Business Officerissue celebrating NACUBO's 25th anniversary, in an article about the CBO of the future . . .
"Chief business officers will need broad experience to successfully fill the scope of these complex responsibilities while simultaneously possessing the personal traits to inspire, lead, innovate, and motivate individuals to take actions to meet a changing environment."
STEPHEN F. HARRAN JR., Skidmore College
perspective. They often create or bring new ideas based on an outsider's perspective that will ultimately benefit higher education.
University of Texas at Dallas Vice President for Administration Calvin Jamison is a prime example. In addition to his varied career within higher education-working at a land-grant university, an urban university, and a historically black university-he has worked within the private sector and as a city manager. "Individuals who will be successful in the future in the CBO role will understand and share exposure to a diversity of experiences, because even though the bottom line remains the focal point, how one reaches the bottom line will continue to involve different ways of thinking," says Jamison.
BROAD EXPERIENCE MATTERS
The CBO role is a complex one. More than half of the CBOs who responded to the 2010 survey indicated that they oversee endowment, internal audit, public safety, physical plant, auxiliaries, and human resources in addition to overseeing budget, controller, bursar, and purchasing operations. Not only do their duties extend far beyond budgeting and accounting, but the responsibilities of CBOs often encompass concerns outside campus boundaries, including economic development and town-gown relationships. Most CBOs also have at least an informal reporting relationship to their board of trustees in addition to reporting directly to their presidents. All this suggests that diversity of experience can indeed be solid preparation for higher education administration.
Current CBOs say that getting experience with many different areas of the campus can lead to new opportunities for professional growth. "Broaden your experience as much as you can, filling out the gaps, and don't be afraid to take detours to gain administrative or project experience," says Ben Hammond, vice president for finance and administration and treasurer at Mount Holyoke College, South Hadley, Massachusetts. In between his careers as a management consultant and a higher education business officer, Hammond volunteered in the Gambia, West Africa, to help the polytechnic institution there strengthen its economic model.
Randy Greene, vice president for finance and treasurer and chief financial officer at Stevens Institute of Technology in Hoboken, New Jersey, adds: "Volunteer and ask to get involved on projects in areas for which you are currently not responsible, so you have a better sense of those functions and can help others address their issues. The more you know about faculty governance, academic offerings, development, student services, financial aid, facilities planning, and other areas, the more desirable it will be for you to be part of the executive team of an institution."
Greene's extensive background prior to joining Stevens includes experience at major research, medical, and land-grant institutions. While at Cornell University, he explored new
areas that took him from management responsibilities in the endowed accounting office to the research foundation and the medical college.
Expanding your perspective by pursuing different experiences can likewise help you engage other institution leaders in the kind of strategic discussions that will be necessary for the industry as a whole in the coming years. In addition to understanding how issues are addressed at your own institution, get to know the many different types of institutions, suggests Hammond. "There is huge variation, and you may find great opportunities at institutions outside your base of experience. In my case, leaving the administration of a major research university to be the CBO of a small liberal arts college has been hugely rewarding for me, and I discovered that I am even more committed to our mission."
Margaret Tungseth agrees. CBOs who wish to excel in the field must get involved beyond their own campuses, advises Tungseth, vice president for finance and administration and treasurer at Central College, Pella, Iowa. "You can do this by taking advantage of continuing education, networking within the profession, and getting involved in higher education associations like NACUBO," she says. Prior to becoming a CBO, Tungseth dedicated a portion of her career to university risk management. For seven years, she served as a board member and officer of the University Risk Management and Insurance Association, including a term as president. As a CBO, Tungseth benefits not only from her knowledge of risk management but also her past leadership roles with URMIA.
CONTINUOUS LEARNING IS CRITICAL
Beyond leadership skills, curiosity, and an eagerness to learn are common characteristics among high-performing CBOs. Deb Moon, vice president and CFO at Carnegie Mellon University, Pittsburgh, credits her inner drive for continuous learning and her interest in areas beyond her immediate responsibilities for helping her reach the CBO position. "I never have two days that are the same," says Moon. Her previous experience as a higher education consultant and in various financial positions with a research foundation exposed her to diverse funding models and challenges across a broad spectrum of institutions and functions.
The variety in her role as CBO not only attests to the complexity of the job, but also ensures that she will always be involved in problem solving and professional development on a near-daily basis, notes Moon. Adds Hammond, "The breadth and pace of issues I am dealing with at any moment can be daunting, but mostly I find it fulfilling, and relish the opportunity to keep learning."
Many CBOs and experts agree that continuously improving your skill set is important to the institution as well as for personal success. Part of a CBO's learning curve and ongoing information-gathering efforts should include direct engagement with faculty and students to gain a better understanding of their issues and concerns, says Goldstein. Greene adds, "The CBO can play a part in facilitating all other areas of the institution. Understanding that you are part of the team that will make a big difference in the future of the institution is both exciting and great motivation to get it right."
Before joining the University of Chicago as vice president for administration and CFO, Nim Chinniah held a variety of positions during his 16 years at Vanderbilt University, Nashville, that
exposed him to myriad operational areas including dining, traffic and parking, bookstores, and university registrar. Chinniah encourages those who want to become campus business leaders to challenge themselves to be more broadly engaged.
"Actively find ways to be part of the fabric of the institution and its plans for the future. Do not be someone who sits on the sideline and watches the action," urges Chinniah. In part, this requires an ability to evolve with the times. "I see a lot of my peers trying to do the job the same way it was done 15 or 20 years ago," says Chinniah. "The industry has changed, and the role has changed. Looking forward, I think there will be an even greater requirement to be nimble and flexible."
TACKLING TOUGH CHALLENGES: REQUIRED
Anecdotally, CBOs describe their roles as broad in scale and scope, requiring a critical balance between technical capacity and strategic leadership. In fact, colleges and universities have grown increasingly reliant on the CBO for strategically positioning the institution for the future while simultaneously managing a broad range of daily administrative operations. The many challenges—from talent management to process redesign to IT expansion to exploring the newest global opportunities—provide the chance to lead with impact and to leave a unique legacy.
For instance, hiring and retaining employees who can bring expertise you don't have is a skill in itself. "Retaining human capital in light of revenue cutbacks, and competing with the private sector for employees will be a challenge going forward," predicts Tungseth. Chinniah concurs: "Talent management involves a complex process of almost daily re-recruitment of the highest performers. You have to make time and devote attention well after the hiring process is complete."
As for what the future holds, most current CBOs agree that the funding model of higher education remains one of higher education's greatest quandaries. "We are in two lines of business that both inherently lose money-research and education," says Moon. "With pressures on tuition and the incredible competition for tight research dollars, these challenges are only going to increase over the next decade." Jamison adds that accountability for every aspect of the enterprise—academic, administrative, research, student affairs, and community relations—will continue to be challenging.
The fact that the CBO's responsibilities intersect so many facets of campus life requires that the individual in this role be open to the creative and innovative ideas of others and to have some tolerance for risk-taking, suggests Patrick Sanaghan, president of the Sanaghan Group, who cofacilitates the Next Generation workshops with Goldstein. In essence, the successful CBO exemplifies the consummate "cultural traveler," says Sanaghan-that is, he or she has an ability to travel across the many cultures of a campus and to help build bridges among various constituencies, fostering broad trust and appreciation.
GETTING THERE, GIVING BACK
Whether they are veterans or are new to higher education, professionals at the CBO level exhibit keen awareness of their own skill set and the competencies required for the job. These
senior administrators are well-equipped to coach up-and-comers in their midst, says Sanaghan. He advocates that leadership development is absolutely essential to the future of higher education and that a key component of a successful program is having CBOs who take the time to help nurture tomorrow's business officers.
Being a mentor to junior staff—or even staff from other areas of the campus—is one way CBOs can help their institutions identify and advance new talent. "I have a list of about 30 to 40 people that I or my principal deputy mentor," says Chinniah. "Once per quarter, we invite them to lunch or introduce them to key contacts, committees, or other broad-based teams to give them exposure to the senior leadership of the university." Hearing directly from senior leaders about plans and initiatives connects people to the mission of the institution, notes Chinniah.
Most business officers will tell you that having strong mentors helped them aspire to their current roles. Returning the favor of providing professional guidance and career support to others, and finding ways to give direct reports hands-on experience with key aspects of the job, is yet one more characteristic of a successful CBO.
"I recall how I wanted to help strengthen the institution and help the college confront the many challenges facing higher education and navigate a highly uncertain future," says Hammond. "I was fortunate to have wonderful mentors who helped me see firsthand the joys and challenges of this role, and who helped me realize I was ready to step up."
RANDY ROBERSON and MARYANN TERRANA are directors of constituent programs for NACUBO.
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CBO DO'S AND DON'TSWhat can you do to cultivate your own professional development or that of future CBOs, and what should you avoid? The following suggestions come from CBOs and other experts interviewed for this article.
Do
◦ Learn to be nimble and flexible, and become aware of important changes within the industry.
◦ Get involved in associations and other networks connected to higher education.◦ Use self-assessment tools, such as 360 Feedback and the Herrmann Brain
Dominance Instrument (HBDI) to identify skill areas you need to improve or polish.
◦ Challenge yourself to become more engaged across campus.
Don't
◦ Forget that your job provides an opportunity to have an impact on the career development of many young people and help them pursue their professional path.
◦ Underestimate your responsibility to help the larger campus community understand the trade-offs, costs, and benefits of decisions made by the president's cabinet.
◦ Succumb to "comfortable cloning," a dangerous tendency to hire people similar to yourself, since a complex environment such as higher education requires a robust mix of skills and competencies.
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THE PIPELINE LOOKS PROMISINGThe challenges presented by a sluggish U.S. economy, uncertainty about federal student financial aid, and the reality of dwindling state support notwithstanding, the future of higher education administration looks bright. At NACUBO's Intermediate Accounting and Reporting workshops offered last fall and winter, more than 200 entry-to-midlevel college and university accounting staff invested their time and energy to better serve their institutions by honing their professional skills
and knowledge. As part of the program, attendees discussed scenarios from their daily operations, such as how they followed up with a donor or what their institutions had set as a threshold amount for capitalizing goods.
Kimberly Kvaal, associate vice president for business and finance, University of San Francisco, found workshop attendees highly engaged. "The participants in this program are exposed to fundamentals of net asset classes, restrictions, endowments, investment pool unitization, and capital assets and debt, among other topics. Their enthusiasm for learning is essential to absorbing all the FASB and GASB standards that apply to higher education." For a third consecutive year, Kvaal will join Jerry Farley, president of Washburn University, Topeka, Kansas, and Mary Fischer, professor of accounting, University of Texas at Tyler, as faculty for the program this fall. NACUBO has offered this classic workshop for more than 30 years.
The questions that participants asked outside the classroom were equally indicative of talented senior accountants and business officers for the future. Some wanted to know which NACUBO event or training should be taken next to help them advance. Others were interested to begin receiving Business Officer magazine. Still others wanted to hear more about the regional workshops of CACUBO, EACUBO, SACUBO, and WACUBO, or to find out what the NACUBO annual meeting offers.
ResourcesListed below are some of the professional development opportunities and resources available for those who want to learn more about the role and responsibilities of higher education chief business officers.
◦ 2010 Profile of Higher Education Chief Business and Financial Officers.◦ "A Learning Agenda for Chief Business Officers," Business Officer, May 2001. ◦ "Who Will Step Into Your Shoes?" Business Officer, May 2011. ◦ "The Way We Were" in the July/August 2012 issue of Business Officer.◦ Looking Back, Leading Forward: The Chief Business Officer Through the Years,
a 50th anniversary limited-edition publication featuring interviews with longtime NACUBO leaders. You can obtain your copy at a cost of $20 for members or $30 for nonmembers.
◦ NACUBO's New Business Officers Program. Learn more under the Events and Programs tab at www.nacubo.org.
◦ Next Generation Chief Business Officers workshop. Watch for news of these programs through your regional association.
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FILL IN THE BLANKS WITH THE FULL REPORTTo purchase your copy of the 2010 Profile of Higher Education Chief Business and Financial Officers, go to the Research page on the NACUBO Web site and click on the report cover. The profile is NACUBO's first national profile of CFOs at American higher education institutions.
The detailed report, based on survey responses provided by nearly 1,000 chief financial officers at NACUBO member and nonmember institutions, provides demographic details and other characteristics of CFOs at all types of colleges and universities in the United States. In addition, you'll find information on current areas of responsibility, plans for future career advancement, and the responsibilities most likely to occupy the CFO's time.
Cost for accessing the online document is $19 for NACUBO members and $29 for nonmembers.
PROFILE OF A CBO
Results of NACUBO’s first-ever national survey of higher education CBOs and CFOs gives definition not only to demographics but also to job skills, mobility factors, and career aspirations.
By Lucie Lapovsky
◦ See sidebar, "From CFO to President"
“More intense and demanding,” said some. Changes in job scope and responsibilities as a result of the recession “are likely to be permanent,” predicted others. Such were the comments gathered in an informal poll of chief business officers conducted by Business Officer earlier this year. An article summarizing the dozens of responses (see “Words of Experience,” in the May 2010 Business Officer) provided glimpses into the ever-more-complex roles of higher education CBOs. Adding further detail to the profile are the results of a more recent and formalized report, NACUBO's 2010 Profile of Higher Education Chief Business and Financial Officers. In January 2010, NACUBO launched the 2010 Profile, the association's first-ever national census of CBOs and chief financial officers (CFOs) at American higher education institutions. The survey project—part of the NACUBO Board of Directors 2007–10 Long-Range Strategic Plan—provides a greater understanding of the past, present, and future of college and university CFOs and the work they do every day to improve their institutions. The survey results also reveal some clues as to the ways in which the skills of CFOs will be tested even more greatly in the near future. Following is an explanation of the survey instrument as well as an analysis of some of its key findings.
SURVEY METHODS AND RESPONSES
The results of the 2010 Profile are based on a survey sent electronically to approximately 3,000 higher education chief business and financial officers at NACUBO member and nonmember institutions. Valid responses were received from 974 CFOs, three quarters of whom were employed at NACUBO member colleges and universities. About 47 percent of the respondents were employed at small colleges and universities (private institutions with enrollment of fewer than 4,000), 22 percent at community colleges, 14 percent at public and private comprehensive/doctoral universities, and 9 percent at public research universities. The remaining 8 percent of responses came from CFOs at state system offices and other institutional types. (To purchase your copy of the survey, see sidebar, “Fill in the Blanks With the Full Report.”)
Data from the 2010 Profile draw a comprehensive picture of higher education CFOs. The “typical” CFO is a married, 55-year-old, white, non-Hispanic male with children. He has been in his current position for about seven years, and he expects to retire from his current job. CFOs also are highly educated, with nearly half having earned a master's degree in business administration and
READ AN ONLINE EXTRA, “Eye on the Presidency,” in Business Officer Plus for more insights from former chief business officers who now serve in the presidential role at their institutions.
28 percent with a master's degree in another field. About 12 percent of the study participants hold doctorates. The certified public accountant (CPA) designation is held by 38 percent of the CFOs responding to the survey.
But these averages obscure great differences among individual CFOs. About one quarter of the respondents said they have been in their current position for more than 10 years, while half have held their current position for fewer than 5 years. Fifty-five is the average age of survey participants, but 11 percent are 44 years old or younger, and 7 percent are 65 and older. While about 32 percent of the CFOs are women, it's their male counterparts who are more likely to be married (89 percent compared with 71 percent) and have children (91 percent compared with 76 percent).
These demographic differences notwithstanding, the picture that emerges when considering the comprehensive results is that of a complex position that deals with both internal and external aspects of the institution, with most CFOs viewing management of the institution's resources as their most important responsibility. Interestingly, nearly a third of survey participants indicated that part of the job is to lead and foster innovation at the institution. Yet, the jobs generally lack a natural succession sequence and specific academic credentials.
The following analysis further describes (1) the most important skills needed to effectively perform the top finance job, (2) the career mobility of higher education CFOs, (3) the duties that take the most time, and (4) the career move next on the horizon. All results are shown by the type of institution at which respondents were employed at the time of the survey.
JOB SKILLS AND MOBILITY
Most survey respondents agree that their jobs require talents going far beyond budgeting or accounting and that career paths are diverse.
Core competencies. Predictably, nearly all CFOs cited finance and budget as the most important skill areas needed for the position (see Table 1). However, large shares of survey participants also selected communication (60 percent) and human resources/staff management skills (43 percent) as having high importance.
The importance of different skill sets also varies by institution type. CFOs at research universities ranked communications (79 percent) and leadership development skills (44 percent) more highly, while accounting skills were ranked more important for CFOs at community colleges (30 percent) and small institutions (37 percent).
Other involvement. In addition to the typical job functions already noted, many CFOs report responsibilities related to a variety of other activities at their institutions. More than 80 percent of survey participants said they spend a “moderate” or “significant” amount of their time with their governing boards. Most CFOs staff one or more board committees, including those focused on finance, facilities, audit, and endowment.
Two thirds of respondents are in a direct or indirect reporting relationship to a board committee or board officer(s). About 68 percent of the CFOs said they spend at least a moderate amount of time with other colleges and universities on joint or consortia activities and 53 percent spend at least a moderate amount of time on government relations activities. Comparatively fewer CFOs said they devote large amounts of time to community outreach, economic development, fundraising, or alumni relations activities.
Career path. In moving to their current position, CFOs are almost equally divided in terms of the percentage that were promoted at their own institution (35 percent), recruited from another college or university (33 percent), or hired from outside higher education (32 percent). However, these results vary quite substantially by sector, as Table 2 illustrates.
CFOs at research universities, for example, were much more likely to have been promoted from within their institution (48 percent) as compared with CFOs at comprehensive universities (33 percent), small colleges (32 percent), and community colleges (33 percent). Small college CFOs (38 percent) were more likely to come from outside higher education than any of the other sectors, while CFOs at comprehensive universities (46 percent) and community colleges (37 percent) were most likely to have come from a different college or university than were CFOs in the other two constituent groups.
The survey revealed the following about the three promotion scenarios:
◦ Promoted from within. Among CFOs who moved into their current position from another job at the same institution, most held previous posts of assistant or associate vice president of finance and controller; the next most common progression was from the position of director of budget.
Again, institution types reflect significant differences: The assistant or associate vice president of finance position was the most common stepping-stone at the research and comprehensive universities, while the controller position was the previous job for most CFOs at small colleges and community colleges. This difference may be attributable in large part to the fact that the assistant or associate VP position exists primarily at larger universities. About 23 percent of the responding CFOs were promoted into the top finance spot from a variety of other positions at their institutions, including that of faculty and internal auditor, among others.
◦ Recruited from another institution. For CFOs who moved to their current position from another college or university, the most common path included having been the chief business or financial officer at the previous institution (61 percent). In fact, this is the most common prior position across all types of institutions, although it is somewhat less common at community colleges than elsewhere. For most CFOs, moving between institutions involves a lateral move, although it frequently involves advancing to a larger or more complex institution. Among CFOs who came to their current position directly from another college or university, only 10 percent moved from public to private institutions and 11 percent from private to public institutions. The vast majority of CFOs came to their current position from an institution with the same institutional control as their new institution.
◦ Hired from outside higher education. About 32 percent of CFOs came to their current job directly from outside the industry (see Table 3). The plurality (41 percent) of these came from business and industry, followed by government (15 percent), nonprofits (13 percent), and accounting firms (11 percent). As with many other surveyed areas, results differ significantly by type of institution. For example, government agency personnel or elected officials account for the largest number of other-sector CFOs coming to research universities, while transitioning business executives are more numerous at the three other types of institutions examined in the survey.
TIME MANAGEMENT CHALLENGES
When asked how they spend their time, CFOs reported significant differences related to institution type, as Table 4 indicates. Budgeting tops the list across all sectors, followed by supervision of employees and facilities (including space allocation and capital projects). Strategic planning consumes significant amounts of time for CFOs at research and comprehensive universities, but much less time for those at community colleges. At most institutions, comparatively little time is spent on entrepreneurial activities and enrollment management.
THE NEXT CAREER MOVE
Given the age levels of the majority of the survey participants, it is not surprising to find that retirement is the most commonly cited “next career move” by current CFOs (see Table 5). More than half of the CFOs at research universities expect that they will retire from their current position, compared with 35 percent of those at the small institutions. However, almost a quarter of respondents said they don't know what their next career move will be. Of the 76 percent who did identify an anticipated move, 17 percent plan to seek another CFO
position and 8 percent aspire to a presidency (see sidebar, “From CFO to President”). Eleven percent of the CFOs at both community colleges and comprehensive universities plan to seek a presidency, compared with only 4 percent of those at research universities. About 6 percent are planning to seek a position outside of higher education.
These data indicate that there will be significant turnover of CFOs in the near term, particularly at large research colleges and universities. This situation may leave some institutions with important vacancies to fill, but it may also create significant opportunities for campus leaders to create new strategies to replace their current CFOs.
MORE CHALLENGES AHEAD
The inaugural NACUBO national profile of top financial officers at U.S. colleges and universities brings additional understanding of the CFO position and the people who hold it. Results demonstrate that CFOs need a unique set of skills. At the same time, lingering economic uncertainty indicates that the CFO position will become even more complex in the years ahead.
As those who commented for the “Words of Experience” article noted, the current financial climate has meant more constrained financial resources for many institutions. CFOs will continue to be called upon to use available dollars more creatively to secure the future of their institutions' missions while preserving financial viability.
Some said that they've become even more intimately involved in overall strategy and operations—as innovative financial and enrollment managers, dynamic communicators, and insightful strategic planners.
Robert Lovitt, vice president for finance and operations, Lamar University, Beaumont, Texas, put it this way: “A CBO is always responsible for watching the budget and maximizing revenue generation and expense control. However, the current economic conditions have put a stronger focus on these responsibilities across the campus. It is critical that the CBO be innovative to achieve the goals that the president sets.”
LUCIE LAPOVSKY, New York City, is a consultant in higher education finance and a former college president.
FROM CFO TO PRESIDENTA number of higher education chief financial officers (CFOs) have set their sights on a college or university presidency. Business Officer asked several—who successfully made the transition to the top post—to identify the factors that motivated them to take on the challenge, their overall impressions of the job, and the advice they'd give other CFOs who aspire to be a president.
Most said that they had not originally aspired to become president; for some it was serendipity that brought it about, and for others it was the desire for greater variety and a broader span of influence.
View at the Top“As president you can implement your dreams,” says Marie McDemmond, president emerita, Norfolk State University, Norfolk, Virginia. “This is not something you can easily do from the CFO position.”
In addition, the span of influence is much greater than that of the CFO, says Kent Chabotar, president of Guilford College, Greensboro, North Carolina. The president deals with a much-wider variety of challenging issues and has a greater impact on student outcomes. Chabotar finds it quite a satisfying position, noting: “You have the ability to work the whole agenda.”
Going for ItIn deciding whether to pursue a presidency, recognize, say those who've done it, that lack of a doctoral degree is often a disqualifier—even though exceptions exist. For example, Rick Hurley, president of the University of Mary Washington, Fredericksburg, Virginia, doesn't have a Ph.D. but admits he was in the right place at the right time. Hurley was promoted into the top position and notes that the ability to work with boards is critical to becoming a successful president.
Wendy Libby, president of Stetson University, DeLand, Florida, says that the most important presidential skills—which CFOs have already acquired—are communications and working with a team to develop solutions. Consequently, Chabotar recommends that CFOs aspiring to be president do their homework about the other functions that CFOs don't typically handle directly. Other advice from the CFOs-turned-presidents are to (1) teach if you have the opportunity, so that you
have greater understanding and rapport with faculty, and (2) gain fundraising experience at your current institution or at a nonprofit for which you serve as a board member or volunteer chair. These experiences will help make you a more attractive candidate to a search committee.
All the presidents describe the position as one that's full of challenges but also a great opportunity to make a difference. While significant time commitments are involved, Jerry Farley, president of Washburn University, Topeka, Kansas, says he finds the job to be “enormously fun.”
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See the sidebar, “Even If You Don’t Know Where You’re Going,” for advice by former University of Richmond President E. Bruce Heilman.
EYE ON THE PRESIDENCY
Dream big. That’s the advice of chief business officers who kept climbing the education career ladder until each reached the top.
By Margo Vanover Porter
Once you've obtained the coveted chief business officer title—and the recognition and respect that go with it—where do you go from there?
When NACUBO recently posed that question to CBOs and CFOs as part of NACUBO's first national survey focused on professionals in the position, 8 percent shared their hope to become president of a college or university. Unrealistic?
Not according to Hal Higdon, formerly vice president for administration at Mississippi Gulf Coast Community College, and now president of Ozarks Technical Community College in Springfield, Missouri. “For those who are chief financial officers or chief business officers, you are better qualified than you think—and better qualified than your colleagues think,” he insists. “You're actually perfectly fitted for the presidency.”
Higdon believes his earlier career's focus on finance and administration effectively groomed him for the top slot. “Obviously, when you work in administration in a community college, you work closely with the president. You see the role of the president up close. You see the dynamics that make a successful president, so you can learn how to model that.”
Because of his exposure to the ins and outs of the position, Higdon's transition turned out to be seamless. “I didn't think it was hard,” he recalls. “The job was straightforward—to provide leadership—not to come in as a micromanager. When you are an administrative officer or chief business officer, you have a big operation and you quickly learn to delegate. That lesson helped get me ready for the presidency; in this position, you certainly can't do everything yourself.”
Higdon points out that institutions now seem more willing to give the green light to CFO candidates. “Traditionally it's been a little hard to move up from a CFO role,” he says. “Usually, it's chief academic officers who move to the presidency. That seems to have been changing in the past few years.”
DOCTORATE HELPS PAVE THE WAY
Wendy Libby, president, Stetson University, DeLand, Florida, spent the better part of 20 years in the business offices of higher education before deciding to grab the brass ring. “I'd been in situations where I had a taste of the management of the entire institution, and I thought, 'I can do this.' So I just decided to test the water. It took me two years to find the right university.”
Earlier in her career, Libby enhanced her resume by acquiring her Ph.D., teaching a few classes, and expanding her knowledge of curriculum and assessment. “Then it's really a matter of finding an institution that understands that it's not necessary for you to come in as a tenured faculty member or academic leader to be president,” she says. “There are other avenues, depending on the institution's strategic needs, that might be more direct than those coming through the professoriat.”
In 2003, Libby landed her first presidency at Stephens College in Columbia, Missouri, after being recruited by a search firm. She credits the firm with providing feedback that enabled her to rethink how she presented herself and answered questions during the search process. For example, she says, she used to attach to her resume a short, two-paragraph letter saying, “I'm interested in this position. Here's who I am, and here's what I do.”
“The search firm explained the power of receiving a letter that explains why you are uniquely suited to fill each of the requirements laid out in the job description,” says Libby. “My letter went from one page to three or four pages, but I was selected for the 8-to 10-person interview list at every place I applied from that point on. Then it's a matter of chemistry—whether the people who are interviewing you feel you would fit into their culture and make a difference in their strategic issues.”
Libby finds her life as a president rewarding, particularly when she lands a major gift that supports one of the strategic priorities of the university. She also cherishes convocation and graduation. “When you see the new students and their families walk in for convocation, they have so much excitement about the institution and how their lives are changing—and you know you play a large role in making a difference. Then, four years later at graduation, you look around and say, 'Whoa. This place delivered on
its promises. Look at the smart, committed, service-minded young people we're about to turn out into the world.' Those are absolutely great days.”
Although Libby doesn't miss her CFO role, she does miss its regular workday. She remarks that her presidential position frequently requires long hours that can be grueling. “This is an animal that you get on and hope not to fall off,” she says.
WHY JUST ACT THE PART?
Richard V. Hurley really never intended to apply as president of the University of Mary Washington (UMW), Fredericksburg, Virginia. “You know why?” he asks. “I don't have a doctorate. Having grown up in this business, I understand the high value of a doctoral degree for someone sitting in this chair. I never aspired to be a college president, because I didn't think that was within my realm of reach. For me, the pinnacle of my career was going to be a chief financial officer. I set my sights on that, I enjoyed it, and I planned to retire from it.”
Then fate intervened. While between presidents, the university in 2007 asked Hurley, who was then the executive vice president and chief financial officer, to serve as acting president. He juggled both jobs for 14 months until a successor could be found. Fast-forward to 2010, when the UMW president announced an early departure. Yet again, Hurley picked up the slack. The critical difference: This time, he actually threw his hat in the ring.
“The campus was clamoring for me to be put into the presidential position on a full-time basis,” he says. “My greatest challenge initially was to give the campus some comfort that we were going to be stable from a leadership and financial perspective.”
He admits that serving as acting president doesn't compare to the real deal. “When I was acting president, I knew I had to keep the trains running on time,” he says. “When I hung up the phone after being offered the job of president, it hit me that 'I'm not just maintaining the place any longer. People will look to me for vision and leadership.' I've spent a lot of time thinking through that.”
Hurley's advice for CBOs who have their eyes on the presidency: Get close to the governing board of your institution. “Observe the dynamics and politics of the relationships,” he says. “Learn everything you can from your observations and interactions with boards. In most cases, you will be reporting to a board and you need to know what makes some presidents successful with boards—and others not.”
MARGO VANOVER PORTER, Locust Grove, Virginia, covers higher education business issues for Business Officer.
EVEN IF YOU DON'T KNOW WHERE YOU'RE GOING“Whatever stage you're in professionally, whatever your age and level of ambition,” noted E. Bruce Heilman, former president of the University of Richmond, “you can benefit by remembering some principles that will lead you to places and positions which, earlier in life, would have been impossible to predict.”
Heilman outlined a number of those pivotal actions in a general session presentation, “You Won't Know Where You Are Going Until You Get There,” at the EACUBO 2009 Annual Meeting, in Atlanta. Here are some leadership axioms based on Heilman's nearly six decades in higher education:
◦ Expect the unexpected. “I never dreamed that, with 198 students [when I was admitted there on the GI Bill], Campbellsville College would become a university of 3,000 students and that I would serve on its board of trustees—or that I would give a commencement address when a granddaughter graduated from Campbellsville,” explained Heilman. “Arriving at unanticipated places and positions has afforded an exciting, stimulating, and challenging life for me and I recommend it to others no matter their present path.”
◦ Apply your accumulated experiences and impressions. “In paying attention to my observations of the strengths and weaknesses of presidents with whom I served [prior to becoming president of Meredith College, in Raleigh, North Carolina],” said Heilman, “I was able to recruit new and capable administrative staff. We doubled the enrollment, significantly increased compensation of staff and faculty ... and set the college on an upward trajectory from one that many believed would take it out of business.”
◦ Remember that budget and finance officers make great presidents. “If you're attracted to the top spot,” said Heilman, “your CBO position qualifies you well. As Wendy Libby, president of Stetson University, stated in a recent EACUBO newsletter article: 'As a chief business officer, you have a comprehensive understanding of how the pieces fit together. As president, you have a measure of control and the opportunity to impact those pieces.'”
◦ Keep your head when all about you are losing theirs. “I've known presidents who lost their heads over athletics, conflicts with faculty, power struggles with the board, battles with students, disagreements with alumni, and on and on. Whatever your position,” advised Heilman, “remember that a law of leadership is that things are always easier to get into than out of. Be sure that you know where you are headed and that the important power brokers of the institution are with you.”
◦ Don't try to please everyone. “At the same time,” said Heilman, “the formula for failure is in trying to please everyone. I consciously sought not to unduly play up the rightness of a particular action nor put down the actions of my adversaries. Rather, I tried to move forward in such a positive fashion that my detractors might choke in the dust of our progress.”
In concluding his remarks, Heilman urged business officers to “stand up and be heard” on the issue of organizational leadership. “In your professional development activities and in other venues in which you represent such a high level of professional administrator, make the option of becoming president a top priority for those who have never considered the possibility of being the top leader at their institutions or elsewhere.”
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OnCourseBusiness insights and trends for trustees and higher education administrators March 2013
The new higher education CFO: 7 roles that break away from traditionPart I
Larry Ladd, Director, National Higher Education Practice, Not-for-Profit
Let’s say a higher education institution is in search of a CFO. The position description might read something like this:
“ The CFO oversees and enhances the financial management of the college, which includes resource allocations, financial strategy, capital plans, debt management, research and compliance management, cash flow optimization and financial information systems. The CFO’s business responsibilities encompass treasury, investment, budgets, accounting and compliance systems, the audit and accounting oversight of the endowment. These activities require that the CFO have a central role with senior administrators in allocating resources annually and strategically. The CFO is also a key advisor to the president on financial and nonfinancial strategic issues.”
This generic list of duties, however, doesn’t do justice to the CFO’s main role — to achieve the institution’s mission while preserving (and enhancing) its assets. In fact, the traditional role of the CFO is being transformed as institutions add new responsibilities to the position and require more expertise from the people who aspire to it.
continued >
2 OnCourse — March 2013
The new higher education CFO: 7 roles that break away from traditionPart I (continued)
Here are seven roles — each requiring a different skill set — that educational institutions now expect CFOs to fulfill.
1. Truth tellerIn short, the CFO should be the data guru. The controller, budget director, director of institutional research and others may produce a great deal of information and analysis, but the CFO has the institutional perspective, clout and access to represent that data effectively — and truthfully. He or she needs to produce, organize and then present financial information that demonstrates the depth (or lack) of resources to achieve the institution’s mission.
Financial information without interpretation is misleading to other officers and presents an incomplete picture. So being a truth teller entails both interpreting the information and advising on what the information means in light of institutional strategies and financial plans. When hearing a reportfrom another officer, the CFO is the person most likely to ask, “How do we know?” and “What are the metrics?”
Presenting financial facts so the truth is heard but not resented can be challenging. The facts may run counter to what others believe or want to hear, yet the CFO has a duty to press on. Similarly, the CFO must speak the truth about sound ethical practices and behavior, always insisting on policies that protect the institution’s reputation and assets.
2. Exemplary managerIn addition to being a proponent of sound ethical practices, the CFO must model behavior that reflects the highest ethical and professional standards. Exemplifying best practices in job performance and supervision responsibilities builds credibility, positioning the CFO to effectively advocate good management practices throughout the institution.
In casting an eye at other parts of the organization, the CFO should ensure that best practices are followed in support of fairness, accountability, compliance and customer service. For example, the CFO should always ask these questions:
• Areourobjectivesclearandmeasurable?
• Doourorganizationalstructuresand job descriptions align with our objectives?
• Dowehavewrittenpoliciesandprocedures in place?
• Areweawareofourrisksandhavewemitigated the major ones?
• Arewestructuredsothatourpracticescomply with internal policies and external laws and regulations?
• Areourdecisionsfiscallysoundandprudent?
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3 OnCourse — March 2013
The new higher education CFO: 7 roles that break away from traditionPart I (continued)
3. Resource maximizerWhen asked to name the three duties on which they spend the most time, higher education CFOs overwhelmingly chose budgeting/financial management (97%), followed by personnel supervision and management (64%) and facilities (60%).1
Primarily through budgeting and financial management, the CFO helps the institution focus its available resources on its most critical priorities. That means balancing operating revenue and operating expense budgets to attain and sustain long-term equilibrium, rooting out inefficiencies and questioning the allocation of resources for lower priority objectives. Yet maximizing resources also means reserving the endowment’s long-term purchasing power, adequately maintaining the physical plant to avoid the hidden cost of deferred maintenance and ensuring that the institution treats its employees fairly.
4. Resource guardianThe CFO must ensure that the institution protects its human, financial and physical resources. That includes minimizing the risk of destruction of facilities from natural causes, tort liabilities from negligence, data systems crashes due to hardware or software failures or external system attacks, and — most important — damage to the institution’s reputation and good name.
Because risks permeate the institution and are certainly not limited to the finance function, enterprise risk management is a key tool to employ. The CFO must not only be conversant with the Committee on Sponsoring Organizations’ standards but also know how to apply those recommended methods for risk assessment and mitigation throughout the institution.
In support of the board’s audit review function through an audit or finance committee, the CFO arranges adequate support for the committee. Selecting, contracting and reviewing the audit remains the board’s responsibility; the CFO only manages the audit. Asanelementoftheaudit,theCFOshould advocate for a comprehensive conflict-of-interest policy — including whistleblower policies and procedures — for the board and senior administrators.
Increasingly, being a guardian of an institution’s tangible and intangible resources also includes acknowledging and incorporating environmental sustainability. This role is circumscribed by governmental regulations, board policy and cost-benefit analyses of options that could help minimize the institution’s impact on the environment.
5. SheriffEvery institution needs someone to ensure that policies are followed and internal controls are effective. In addition to aggressively pursuing potential and actual problems in the sheriff’s role, CFOs must play the realist among senior administrators. They must ask hard questions in cabinet and department head meetings about strategy, budgets, contracts, purchases and institutional proposals with financial consequences.
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1 National Association of College and University Business Officers. 2010 Profile of Higher Education Chief Business and Financial Officers, 2010. Available at www.nacubo.org/Products/Online_Research_Products/2010_Profile_of_Higher_Education_Chief_Business_and_Financial_Officers.html.
4 OnCourse — March 2013
About the newsletterOnCourse is published by Grant Thornton’s National Higher Education practice. The people in the independent firms of Grant Thornton International Ltd provide personalized attention and the highest-quality service to public and private clients in more than 100 countries. Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations. Grant Thornton International Ltd and its member firms are not a worldwide partnership, as each member firm is a separate and distinct legal entity.
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6. Town crierWhen asked to rank the skills they need to succeed, CFOs within higher education cited communication as the second most important (60%). Only finance/budget ranked higher (94%).2
Aseffectivecommunicators,CFOsshould explain complex technical issues in simple and understandable terms; raise difficult questions (while keeping attention on the question, not the questioner); and convey a sense of urgency, when needed, without causing undue alarm. The CFO must also educate fellow administrators about the institution’s financial condition and the benefits of good management practices, such as financial planning and oversight, compliance, and monitoring of internal controls.
7. Institutional strategistThe CFO, in tandem with the chief academic officer, often drives the strategic planning process. The CFO is the officer most likely to say — and prove with numbers — “If we do not change our strategy, we will not be financially viable.”
It might be the CFO who first highlights significant financial challenges that can’t be solved by small incremental changes, or who shows through financial projections whether a proposed strategy is viable. Typically, numbers drive change; as a result, the CFO will be in the thick of it.
This article was originally published in the National Association of College and University Business Officers’ Perspectives... Presenting Thought Leaders’ Points of View publication (2011).
2 National Association of College and University Business Officers. 2010 Profile of Higher Education Chief Business and Financial Officers, 2010. Available at www.nacubo.org/Products/Online_Research_Products/2010_Profile_of_Higher_Education_Chief_Business_and_Financial_Officers.html.
The new higher education CFO: 7 roles that break away from traditionPart I (continued)
CONTENTSBe True to CharacterPage 2
Lead with a VisionPage 2
Manage with a PlanPage 3
Prioritize Your TimePage 4
Build and Maintain TrustPage 5
Innovate Through ImaginationPage 6
Apply the Power of KnowledgePage 7
THE SUMMARY IN BRIEF
Running a business or department in today’s high-pressure business landscape gets more difficult every year. Given the level of competition as well as market ups and downs, it seems that you either sacrifice your personal life for your job, or you lose everything. Steve Shallenberger has an important message for you: It doesn’t have to be this way.
Becoming Your Best reveals the 12 principles you need to follow in order to reach your highest potential and drive the kind of innovation that turns good companies into industry leaders –– all while living a well-balanced personal life.
Divided into three thematic sections –– Transformational Leadership, Transforma-tional Teams and Relationships, and Transformational Living –– Becoming Your Best is packed with advice, tools and examples for turning your thoughts into action, mo-tivating yourself and your people, inspiring teams to solve problems creatively, and building the life you’ve always dreamed of. You’ll begin to see everything through a completely new lens –– one that reveals change as something to embrace, not fear.
Becoming Your Best will arm you with the knowledge and tools to measurably im-prove your life as well as the lives of your employees and loved ones. IN THIS SUMMARY, YOU WILL LEARN:
• How to avoid communication roadblocks. • Four tips to living the Golden Rule.• How to set goals and develop a plan to achieve them.• How to control what you can control.
Becoming Your BestThe 12 Principles of Highly Successful Leaders
Published by Soundview Executive Book Summaries®, 511 School House Rd., Suite 300, Kennett Square, PA 19348 USA © 2015 Soundview Executive Book Summaries® • All rights reserved. Reproduction in whole or part is prohibited.Concentrated Knowledge™ for the Busy Executive • www.summary.comVol. 37, No. 2 (3 parts), Part 2, February 2015 • Order #37-05
by Steven R. Shallenberger
February 2015
SOUNDVIEW
Leadership
PART I: TRANSFORMATIONAL LEADERSHIP
Be True to CharacterOne of the greatest assets a person or an organization
can have is strength of character based on universal prin-ciples. However, a strong character is not easily acquired. It is forged over time as we are tested and our values and judgment skills are refined and tempered. People who have a strong character withstand tests and temptations by holding true to time-honored principles that have been identified as being good and honorable throughout the course of human history.
These bedrock principles include integrity, honesty, trustworthiness, perserverance, humility, compassion and respect for others. When your character reflects these principles, you earn the respect and trust of those around you. When you are true to your highest character, your actions reflect your beliefs and guide you through life, helping you to be your best.
Be Strong in the Moment of ChoiceStrength of character is demonstrated not just when
things are going well, but especially when things get tough. It is best to be strong in the initial moment of choice,
but if you blow it, you will often have an opportunity to make a correction. We all have moments of weakness and poor judgment, but the ability to self-correct is critical if we want to build a strong character and a life of fulfill-ment and meaning.
As your integrity, honesty and respect for others are tested, tried and refined, the moral fabric that makes up
your character grows stronger. Over time, you become someone who can be counted on. This character estab-lishes a moral authority within you that gives you great power and credibility.
Stand Up and Speak OutAnother measure of a strong character is a willingness
to speak up and take a stand that you believe in, even when it is not the popular choice. Such a display of strong character is the basis of many of our most popular tales of heroism, but we can also find examples of it in our daily lives.
Have the courage to be true to character. Exercise integrity, honesty, respect and correct principles. Wheth-er you are the leader of a country, an organization, or a team or simply in your daily life, be determined that you will not sit idly on the sidelines of life when issues of character come up. The strength of your character will be evident in how you conduct yourself with all people.
Guard Your Character Being true to yourself is a hallmark of great character.
In theory, this is easy to do, but it is tougher given the reality of the temptations and peer pressures encountered in daily life. In good times, it’s easy to say that you will be true to your principles and values and remain strong, but your true character is formed and displayed in challeng-ing times. l
Lead with a VisionIn nearly all individuals, classrooms, teams, divisions or
organizations where we see sustained excellence, there is an inspiring and well-articulated vision.
The author: Steven R. Shallenberger has more than 40 years of experience as a successful entrepreneur, CEO, execu-tive, corporate trainer and community leader. He is also the founder of Synergy Companies, an industry leader in energy management and environmental solutions.
Adapted by arrangement with McGraw-Hill Global Education Holdings, LLC, from Becoming Your Best: The 12 Princi-ples of Highly Successful Leaders by Steven R. Shallenberger. Copyright © 2015 by Steven R. Shallenberger. 272 pages, $25.00, ISBN: 978-0-07-183998-3. To purchase this book go to www.amazon.com or www.bn.com.
Summary copyright © 2015 by Soundview Executive Book Summaries, www.summary.com, 1-800-SUMMARY. For more information about the author, go to www. summary.com or www.BecomingYourBest.com.
THE COMPLETE SUMMARY: BECOMING YOUR BESTby Steven R. Shallenberger
Published by Soundview Executive Book Summaries® (ISSN 0747-2196), 511 School House Road.,Suite 300, Kennett Square, PA 19348 USA, a division of Concentrated Knowledge Corp. Published monthly. Subscriptions starting at $99 per year. Copyright © 2015 by Soundview Executive Book Summaries ®. Available formats: Summaries are
available in several digital formats. To subscribe, call us at 1-800-SUMMARY (240-912-7513 outside the United States), or order online at www.summary.com. Multiple-subscription discounts and corporate site licenses are also available.
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Regardless of whether they call it a dream, a mission statement or a cause, most highly successful leaders have a vision that helps to inspire and drive them.
A vision aims for a high level of achievement. It is not the same as goals or objectives, which are created after your vision is formed. A vision is a high-level desired outcome or accomplishment that you hope to achieve. A vision is how you describe yourself, your team or your organization from the 35,000-foot view.
Attributes of a Transformational VisionA vision can be transformational. When you have a clear,
compelling vision, you transform the effort, the conver-sation and the results of not only your life but the life of your organization –– whether that organization is a com-pany, a community, a team or a family.
A vision sets a positive and meaningful direction with a purpose and a cause. It rallies support that results in commitments and new levels of contribution. A vision is developed through individual and shared leadership. Each participant in the vision is a “leader” who contributes uniqueness to the whole.
The value of the vision is what it communicates to you and to others. If it is clear and describes the desired direc-tion of leadership, then it ensures that you’re headed in the right direction. l
Manage with a PlanThe secret to getting things done in any area of your life
is to use your imagination to create a vision, then develop goals as part of a long-range plan that supports the vision. Finally, of course, you have to summon the energy and determination to carry out that plan.
Set Annual Goals, and Develop a Plan to Achieve Them
A very effective way to set individual goals is called Roles and Goals. You can use Roles and Goals to set clear and actionable goals and then develop a plan to make those goals a reality. Here are the ABCs for using Roles and Goals.
1. Review your vision and the key roles in your life. Begin by aligning your goals with your vision. Next, divide your life into key roles. These roles might include parent, friend, manager, employee, professional, student, citizen or church member. You also have the “personal” role –– maintaining your physical, mental, emotional and spiritual health. When you divide your life into your var-
ious roles, it helps prevent misalignment of priorities and helps you focus your time on what matters most.
2. Develop annual goals in each role using the SMART method. SMART refers to setting goals that are Specific, Measurable, Achievable, Relevant and Time-spe-cific. Set SMART goals within each role.
3. Share your goals. Send your goals to a few friends, mentors, advisors or others who you admire and respect and who can give feedback that is worth following. This makes your goals official and makes you accountable.
4. Develop a plan and set milestones. The next step is to develop a plan with milestones to accomplish your goals. Determine what you’ll do in each step, with markers or milestones along the way. Breaking down a goal into actionable milestones makes it doable.
5. Post your goals in a prominent place. Put your written goals and plan in a place where you can see them often. Review your annual goals or major goals regular-ly so that they remain fresh in your mind. It’s helpful to review them each week prior to doing your planning for that week.
Plan for the UnexpectedIt’s great to have a written and well-thought-out plan.
Then again, how often do things actually go as planned?Contingency plans are essential to your survival, yet
they’ll be much more effective if you think about your response before the crisis hits. Every leader needs to be prepared for health issues, changes in government regula-tions, product failure, lawsuits, a shift in the economy and the loss of key people.
When you think about your contingency plans, one place to start is to consider what your first three responses would be to a crisis situation in your personal life or your organization.
Looking at contingency plans for your business, you should consider how you would respond to situations that could have a dramatic impact on your bottom line.
Manage for ResultsEven with great plans, it still takes an effective leader to
manage the plan and ensure that is is executed effective-ly. No leader succeeds without building a strong team of individuals who share the same vision and goals.
Effective management means that you inspire and empower your team members to stand with you and help you succeed.
Once you’ve attracted good people and instilled the vision into them, you have to give them the freedom to respond to dramatic changes in the external environment.
SUMMARY: BECOMING YOUR BEST
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SUMMARY: BECOMING YOUR BEST
Decisive action may be essential during chaotic situations. There is rarely time to sit back and brainstorm, so your team has to have the confidence and the freedom to do what needs to be done in a crisis situation.
As a leader, you are responsible for the success of the plan. Highly successful leaders are continually looking for ways to manage and lead their teams more effectively. It’s about never being satisfied with where you currently are but always looking for ways to improve as a leader and as an individual. That’s the spirit of becoming your best. l
Prioritize Your TimeDoing what matters most frequently requires discipline
and maybe even sacrifices in your personal and profes-sional life. This principle is about time and how to do and become our best with the time we have in life.
Get Your Priorities Straight, and Think High Quality and High Quantity
The first action is doing what matters most so that you are focused on both high quality and high quanti-ty (HQ/HQ), in the high-performance zone. If you’re not in the high-performance zone, sit down with a partner or a team and evaluate your plan. How do you need to adjust your plan to focus on what matters most? Maybe it means adjusting the development and production plan to launch a pilot rather than mass producing a product on the initial run.
Take Control of Your Life Through Pre-week Planning
Your efficiency, flexibility and stress management will significantly improve if you engage in careful and thoughtful preparation for what you’ll do in the upcom-ing week. Pre-week planning is simple enough. You take 15 to 20 minutes on Saturday or Sunday and develop a detailed plan for the upcoming week.
Five steps in pre-week planning will help you focus on what matters most each week:
Step 1. Review your vision and your annual goals.Step 2. Look ahead one to three months, or even fur-
ther out, in your master calendar.Step 3. Enter into your calendar all of the meetings
and other scheduled events that you have planned for that week.
Step 4. Identify what matters most that week in each role.
Step 5. Determine a time during the week when you’ll do each item you listed under each of the roles.
Pre-week planning is a powerful way to reduce stress, give you better quality time in each area of your life, and certainly increase your balance. It also prevents important things from slipping through the cracks.
Protect and Conserve Your TimeTo stay focused on what matters most, you need to cre-
ate internal guidelines so that you don’t get trapped by all the distractions. To protect your time,
• Handle each task when it arises, and don’t procrastinate.• Manage your email and other electronic media
effectively.• Try to eliminate or minimize ineffective meetings.• Avoid negative, draining interactions with others. You can’t really change or control others, so don’t allow
them to throw you off. Draw upon your strong inner core for your own peace, happiness and direction. Your positive and peaceful energy and your effective use of time are two of your most precious resources. Be a master at conserving them carefully. l
PART II: TRANSFORMATIONAL TEAMS AND RELATIONSHIPS
Live the Golden Rule in Business and in Life
The spirit of the Golden Rule, simply put, is to “treat others as you would like to be treated.” The rule tran-scends time and culture and can be a game changer when it comes to your long-term success and relationships.
Four very significant ways that you and I can apply this ageless rule in our modern world are, use the power of kindness, be caring and give service to others, put others first –– and take them all the way home, and practice four powerful tips to live the Golden Rule.
Tip 1: Carry a shield of love. Make an effort to love someone, even when that person has been mean or rude to you. It’s counterintuitive. However, just watch the peace, power and control that come into your total being as you take the high ground and respond with kindness guided by this force field of love.
Tip 2: Empathize with others. The Golden Rule is a reminder that you should be as attuned to the people around you as you are to yourself.
Tip 3: Be compassionate with others. When you feel critical of another person, consider saying to yourself, “There, but for the grace of God, go I.” Then offer com-passion instead of judgment.
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SUMMARY: BECOMING YOUR BEST
Tip 4: Celebrate differences and avoid prejudice in every form. Prejudices can easily become ingrained in our perceptions of others. Make it a habit to celebrate the differences of others.
As the great poet and writer Maya Angelou noted, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” l
Build and Maintain TrustTrust is something that the highly successful leader
constructs over time and then nurtures over the course of any relationship, whether it is with a family member, a coworker, an employer or the community. Strong and deep relationships are built upon trust and trustworthi-ness. When you betray a trust, it shows a weakness in your character, and that leads to fewer opportunities and dimin-ished chances for success.
When you do things that increase the level of trust, your capacity to build relationships, create and seize opportuni-ties, and achieve success increases substantially. When trust is high, you become more effective and influential in all aspects of your life. Even the most complex interactions and transactions become significantly easier when there is a high level of trust.
Build and Maintain Trust Through Your Actions
You certainly want to trust others, and you want others to feel that they can trust you. Here are a few specific actions you can take to make yourself worthy of trust:
• Do high-quality work, and finish it on schedule.• Be consistent so that others will see you as reliable.• Be predictable.• Be open in communicating commitments, and be
willing to have your performance measured.• Give trust. • Tell the truth.As you achieve trustworthiness and meet the expecta-
tions of others, you will experience peace and balance in your life. Your relationships will be more rewarding, you will be better able to resist negative influences and you will build self-respect.
Another specific action you can take to build and main-tain trust includes conscientiously working to establish trust at all levels of your organization. Trust doesn’t simply flow from the top down. It’s vital that you have a culture
in which employees are willing to share their feelings, to express concerns and to offer solutions. For that to hap-pen, highly successful leaders create a culture of listening and understanding the ideas and feedback from others, no matter how unpleasant the circumstances may be.
Learn the Stories of Those Around YouThe first step in creating bonds of trust is to build a rap-
port based on shared experiences and mutual understand-ing. It’s difficult to work with someone you don’t trust, and it’s even harder to trust someone you don’t know. The challenge in this fast-paced and hectic world is to learn the stories of those around you in order to build bonds of trust with them. Highly successful leaders always find a way to build relationships.
To build trust with someone, try these game-changing words: What is your story? No matter what your profession may be, if you take the time to get to know the people around you, it will establish a higher level of trust and foster opportunities for more business.
As you work to become your best in your relationships and your career, trust is a critical component. l
Be an Effective CommunicatorBetter communication begins not with speaking or ex-
pressing yourself but with listening to others instead. How you listen to others says a great deal about your character. So, to become a better listener –– a sincere, interested, posi-tive listener –– you must begin with what’s inside of you.
Be a Highly Effective CommunicatorHere are some of the keys to becoming a highly effec-
tive communicator:• Look the person in the eyes.
• When someone is speaking to you, don’t worry about what you’re going to say next.
• Pay attention to body language.
• Repeat back and check for understanding.
Avoid Communication RoadblocksYou should also be aware of certain obstacles to clear
communication in the workplace and in your relation-ships. Some of these are related to tone, attitudes and simple communication habits. Others may be the result of character flaws, prejudices or insensitivities that need to be addressed if you hope to become your best and be a successful leader.
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Here are a few “roadblocks” that may be hindering your effectiveness as a communicator and leader:
Ordering, directing and commanding. Example: “You will do as you are ordered without question.” Keep in mind that in most cases, leaders cannot be effective if they demand respect; they have to earn it and share it.
Warning, admonishing and threatening. Example: If you miss that quota one more quarter, I’ll find someone who can do the job.” Most people do not respond well to threats or pressure.
Moralizing, preaching and imploring. Example: “You, of all people, should have known better. I’m disap-pointed in you.” Moral superiority is a tough mantle to wear well. No one likes to be treated like an inferior being.
Advising or giving suggestions or solutions. Ex-ample: “If it were me, I’d do it this way.” This can be highly appropriate if you are training Eagle Scouts, but that may not be the best way to communicate with your depart-ment heads, your spouse or the IT wizards you brought in to revamp your company software.
Master the Art of FeedbackFeedback is free consulting! When we ask for and give
feedback in the right way, it can make a tremendous dif-ference in an organization or a relationship.
There is a very practical method for gathering feedback in the form of ideas, suggestions and concerns, without creating conflict. It involves a three-step process called Continue-Start-Stop. Write the three words on a sheet of paper. Below the word “Continue,” write your ideas or suggestions for things that work well and that you would like the person or organization to continue doing. Below the word “Start,” write your ideas and suggestions for things you would like the person or organization to start doing that aren’t currently being done. Below the word “Stop,” write your suggestions for things that the person or organization should stop doing because, in your view, they are not working well.
You can use this three-step method to provide feedback to others or to solicit feedback from others for yourself or your organization. Although it takes some courage to invite others to provide feedback like this, if the feedback is sincere, specific and constructive, it can be invaluable for improving communication and helping relationships get to a better place.
Learn to Control Your EmotionsA final area that many people find challenging is con-
trolling their emotions, particularly their anger, when communicating in stressful situations.
Wrath, which can be defined as anger, impatience, being opinionated or prejudiced, or even expressing rage, is a major barrier to effective communication. Communicat-ing when you are wrathful usually alienates those who you are trying to influence or reach. Rarely does anything good come out of it. More often, it results in bitterness, retaliation and rejection.
Stepping back and giving yourself time to regain con-trol of your emotions is a proven method for improving your communication skills. The minute you revert back to listening, you get to a better place. The next time you feel hot blood rising with emotion, say to yourself, “Don’t react. Listen and understand.” l
Innovate Through ImaginationFrom research into what makes individuals, compa-
nies and organizations successful, we identified common success factors in the long-term highest achievers, and one of them was the ability to tap the power of imagination to innovate and remain relevant over many years and decades.
The human imagination is capable of producing endless opportunities and possibilities. With them comes hope and the belief that there are solutions to problems.
First comes the idea, the inspiration or the vision, and then comes the process for making your dream a reality. Imagination also allows us to sketch out the pathway to that reality. It creates the magic in our lives, our businesses and our organizations.
Here are four ways to fire up your imagination:Be curious and ask the right questions. Highly
successful people fire up their imaginations with an insa-tiable desire to understand how things work. Their curios-ity is boundless. Their lives and accomplishments are built upon creativity and drive as well as powerful intellects.
Create a brainstorm of possibilities. Having differ-ent perspectives is critical to innovation. That’s what brain-storming involves: tapping the mental energies of a group in order to trigger every participant’s imagination. When you enlist the help of others, the number of new and fresh ideas goes up exponentially.
Walk away and let your subconscious do the work. Incubation is defined as a time when a problem is “parked” in your subconscious. You can’t see any prog-ress being made, but your mind is quietly whirling away. Sometimes the subconscious can unlock amazing ideas when we least expect them, so we should be open and ready for them.
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Write about your ideas. Often the simple act of putting pen to paper will allow your thoughts to flow. Writing can help you clarify and organize ideas that might otherwise slip away. l
PART III: TRANSFORMATIONAL LIVING
Be AccountableWe all fall short of expectations and make mistakes
occasionally. When there is a misunderstanding, confusion, a missed meeting, something that is not going right or a mistake, simply fess up –– take responsibility –– and move on. When it’s all over, take stock of what went right and what went wrong. Evaluate what you could have done better, jot down your thoughts, and then put the problem behind you.
People who aren’t accountable tend to blame others or deny that they were responsible. You may be tempted to offer one of the classic copouts: “I didn’t know,” “I wasn’t there,” “I didn’t have time” or “It’s not my job.” But using those excuses creates more anxiety and doesn’t take you toward personal or institutional success.
Embedded in the commitment to be accountable is a commitment to do what you need to do to take control of your life and to become your best.
Accountability StrategiesI want to share with you strategies and tools that can
help you understand how to live with accountability as an individual and as a leader.
1. Control what you can control. Focusing your energy on what you can control empowers you to move away from criticism, complaints and condemnations and forge ahead to become your best and achieve the highest levels of success. By controlling your response to challeng-es, frustrations and aggravations, you can greatly enhance the quality of your life.
2. Develop relationship agreements. These doc-uments clearly define the vision, the reward system, the expectations and the accountability in any relationship, per-sonal or professional. What’s important is that you focus on your sphere of influence, and that will carry over to others.
3. Eliminate procrastination and follow through. There are specific actions that you can take to improve your accountability: eliminate procrastination and fol-low through. Do what you say you will do, and do it in a timely manner. If there is a problem or a good reason to withdraw your commitment, make sure you communicate
with the people involved so that they can make adjust-ments if necessary. l
Apply the Power of KnowledgeYour actions and your behavior follow your thoughts. If
you thoughtfully engineer what goes into your mind and your heart, these factors of change will have an enormous impact on your ability to achieve your dreams and realize the best you can be.
If we really want to learn to apply the power of knowl-edge, it’s important that we approach learning with these characteristics: a hunger to learn, humility and a willing-ness to try new things.
I have several game-changing invitations that could have a dramatic impact on your personal and professional life:
• Develop the habit of reading at least one book a month.
• Invest 3 percent of your income in acquiring more knowledge through seminars, training, books and per-sonal development courses.
• Surround yourself with people who inspire and lift you.The second part of this principle is to regularly assess
the external environment. These are things that are outside of your control. They include natural disasters, disease, the death of a loved one, an accident, the economy, govern-ment regulations, your spouse or partner, children, people you work with, setbacks with your company, competition, changing markets and bad weather. Make an assessment by getting out a sheet of paper and drawing a large circle. You are on the inside, and the external environment is on the outside. Now, write down all of the external forces on the outside that could possibly have an impact on your life.
Once you finish thinking about the various factors, cir-cle or highlight the two or three threats or opportunities that can have the biggest impact on your life. Then devel-op an action plan for taking advantage of opportunities or avoiding the threats to you and your organization.
This is a powerful way to gain knowledge, which then allows you to effectively apply it. l
Live in Peace and BalanceFour harmonizing principles of peace and balance can
help you clear your mind during even the most chaotic times at work or at home. They can be especially helpful to leaders who are striving for the highest levels of success.
• Increase balance in your life.• Increase your peace through meditation.
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SUMMARY: BECOMING YOUR BEST
• Laugh often.• See yourself in a positive light through self-affirmation
and positive self-talk. Finding peace and balance requires inner strength. The
more self-reliant and balanced you are in the different areas of your life, the greater your capacity to work effec-tively while making a difference.
Let’s try a simple assessment called the Circle of Peace and Balance, which divides our lives into six areas that need our attention and consistent care. When each of these six areas is properly cared for, it’s like balancing the wheels on your car to keep it running smoothly.
1. Your physical and emotional health.2. Your mental health and your intellect.3. The financial aspects of your life.4. Security and safety.5. Social life and relationships.6. Your spiritual life. With all these elements in place, the Circle of Peace and
Balance resembles a wheel with six spokes. Each spoke of the wheel represents one of the six areas that are critical to maintaining balance in your life. Write a scale of 1 to 10 coming out from the hub in each of the six areas, and rate yourself by circling a number in each. Then connect the numbers that you circled. If you have a nice balanced cir-cle, congratulations! However, most people rate themselves high in some areas and not so high in other areas.
The Circle of Peace and Balance is a simple way to assess whether your life is in balance, but make no mistake, it can be a lifesaver if you use it to identify areas that may need additional attention. Once you identify those areas, you can go to work and make the necessary adjustments.
You are the master of your fate. Finding peace and balance during the journey, both personally and in your organization, leads to greater health and happiness and an increased capacity to sustain excellence and fulfillment. l
Never Give Up!If you choose to never give up, you have a much better
chance to succeed. You may still have to make corrections in your course, but as long as you refuse to give up, your goals will be within reach.
Virtually everyone will experience a failure or setback at some point. According to our research, high achievers typically experience at least three to four major failures and seven major successes in their careers. We can learn great lessons from our own failures and from the failures of others.
There are three steps to bolster your determination and inspire you to keep striving to achieve your dreams and goals, no matter what opposition, challenges or failures you experience:
1. Defeat the enemy within through hard work and action. If you learn self-control to such an extent that you can adjust your attitude on the run, you will nev-er be defeated by self-doubt, which is the enemy within.
2. See the value of failure. Your failures do not define your life unless you allow that to happen.When a chal-lenge arises, be aware of the words that instinctively come to mind. The thoughts we entertain define our mindset toward failure. If negative, self-accusing, angry thoughts are instinctive to you, then your mindset will be to see failure as worthless. If you choose to entertain positive, self-mo-tivating and inspiring thoughts, then you’re more likely to see failure in a positive light.
3. Hold to a purpose that inspires you. We don’t ask for adversity or challenges. They often come when we least expect them. Think now about finding a purpose if you should experience a great tragedy. Think about what drives you, and tap into it before challenges arise. Use whatever inspires you as a life vest when storms hit. Cling to your most inspiring visions as sources of strength and determination. The moment you think about giving up, recall what has brought you this far, and resolve to contin-ue on toward your dreams and goals.
Finally, remember that never give up is a guiding con-stant for successful people, relationships and organizations.It makes all the difference between those who falter and those who finish. l
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RECOMMENDED READING LIST
If you liked Becoming Your Best, you’ll also like: 1. 360 Degrees of Influence by Harrison Monarth. Monarth provides advice on how to gain the trust and respect of those around you and how to expand your influence well beyond your immediate environment.
2. Just Listen by Mark Goulston. A veteran psychiatrist and business coach, Goulston reveals the secret of how to get through to anyone, even when productive communication seems impossible.
3. The 360 Leader by John C. Maxwell. According to Maxwell, you can learn to develop your influence from wherever you are in the organization by becoming a 360-degree leader.
