I’ve done a fair amount of strategic planning over the years. Mostly facilitating, some participating. On either side of the board table I always went in with this filter: How can we thrive? How do we plan for overwhelming success? Lines out the door, phones ringing off the wall, media coverage out the butt kind of success. Sure, some people look at me like I’m insane – especially in this economy.
But I’ll bet Steve Jobs thinks that way. So does Tony Hsieh. Even Ford is optimistic right now. Southwest Airlines posted another profitable quarter. Starbucks has righted their ship.
How about your credit union? Doom and gloom? Still pissed off at the corporate assessments? Held hostage by your DP vendor’s inabilities? Do you blame NCUA for your lack of innovation? Afraid of losing your job?
According to Jim Collins, author of Good to Great, if you are not a Level 5 Leader, you will likely not thrive in this recession. A level 5 leader “builds enduring greatness through a paradoxical combination of personal humility plus professional will.”
Take 2 minutes and 35 seconds to watch this clip of Jim describing what it means to be a Level 5 leader. I got choked up.
Tony Hsieh does not have a corner office on the 32nd floor. Instead he parks his Level 5 butt in a cubicle in the middle of his call center.
Steve Jobs quietly took sick leave to battle a severe illness while still introducing the iPad to initial media criticism.
Howard Schultz admitted publicly that Starbucks grew too big, too fast. He lost sight of their original vision and posted his strategic plan on their website so the public could hold him accountable.
Yet in the credit union land we see massive mergers, not just among member credit unions but now trade associations and of course the corporates are seeking this shelter from the storm. Credit unions continue to be followers rather than leaders when it comes to innovation.
Edward Filene was a Level 5 leader. What would he tell us today? He put cause before his own ego. He made sacrifices physically, professionally and financially for the movement. Because of his leadership credit unions did not just survive the Great Depression, history showed us they thrived.
Are you a Level 5?
Ultimately our members will decide if THEIR financial cooperative will survive or thrive.
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December 8, 2010 at 7:00 am
James Robert Lay
Love the post and thoughts Denise!
These are great examples of leaders who challenged the status quo, took a risk and won (thrived).
However, unfortunately in the credit union world, I am hearing stories of credit unions who are taking a “wait and see” approach for the third effing year in a row. How is an organization (or industry) supposed to grow and move forward if we take a “wait and see” approach one more time.
Yeah… we are in challenging times but their are some organizations who have kicked ass out there because they have not been afraid of taking calculated risk and trying things differently. Their leaders were also not afraid to put their egos behind them and accept responsibility (which is a whole other story in itself).
There is a company here in Houston when in 2002 the economy tanked. Instead of letting people go (at the time employees were around 7-10), the CEO took a second mortgage on his house, sold his giant Tahoe for a smaller car and was up front and honest about everyone needing to chip in and make a sacrifice to get through the tough time.
In hindsight, no one at the company left or was let go during that time. The CEO was humble enough to realize that his employees were the most important thing to the company’s success (not his own personal ego, status or wealth). Today, after 13 years in business this company has now grown to around 30 employees, has an amazing culture and is continuing to thrive.
I think it’s the little things we take for granted as we move up the “ladder of success”. Even as our organization has grown, I am very careful to not let it get to my head and expect the “perks of leadership”.
For example, I just like everyone else am responsible for taking out the trash, making the coffee, washing dishes, etc. Yes… someone else in the office could take care of these tasks but I believe that the small things like this keep us humble because when first starting, there was no one to make the coffee, take out the trash or wash the dishes but me. These small tasks remind us of where we have come from and grown.
And just like Tony, I work on the floor with seven great people and do not have my own office (or even my own cube) because on the floor is where the action is… it’s where things happen… together as a team.
To paraphrase the video above: It’s not about us… it’s not about our credit unions… it’s about our members and communities.
December 9, 2010 at 10:38 am
Jason M. Dias Pres. Eloquent Online
I should have mentioned JRL in my list of those who get it…keep up the great Ffffing work James Robert.
December 9, 2010 at 1:26 pm
James Robert Lay
Humbly thank you for the kind words Jason… so much more work to do to keep spread credit union love.
December 8, 2010 at 7:52 am
Matt Davis
The type of humility that makes a great leaders is “an absolute burning, compulsive, ambition that wasn’t about them. An absolute burning, compulsive, ambition for cause, company, values…not themselves. An ability to translate that ambition, that subjugating themselves to something that is not about them into a series of (willful) decisions.”
Jim Collins spells it out right there. I’ve seen way too many supposed leaders in the past three years who have decided to concern themselves more with the survival of their enterprise or position, than the people we were formed to help through a time of crisis. We’ve misinterpreted this recession as a tough time for credit unions, instead of seeing it as our golden opportunity to prove our value.
December 8, 2010 at 8:35 am
Sean McDonald
Great post! Leadership is so much more than the corner office or the big paycheck. Do you know what they call a leader with no followers? Ans: Just another guy or girl.
To be considered a leader, you must earn respect, not demand it. You must hold yourself accountable before you even think about holding anyone else accountable. You must value your employees infinitely more than you value your own position. You must listen more than you speak. You must seek to understand others more than you want them to understand you. You must get keenly interested in other people’s goals, values, and ambitions.
You must know your destination before you can lead others in the same direction.
Leadership is an opportunity….not a position.
December 8, 2010 at 8:41 am
Deb Schaffer
Great post, Denise! May we all strive to to THRIVE!!!
December 8, 2010 at 9:05 am
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December 8, 2010 at 11:31 am
Susan Epperson
I mad as hell…and I’m not taking it anymore! (And Denise, because this is your blog, I think I can appropriately vent here.)
I am SICK of hearing how everything is horrible. Did unemployment go up? How about consumer confidence? What about taxes? And how about all those heavy compliance changes?
ENOUGH!
Put on your grown up pants and lead. [Cue the playing of God Bless America.] We are Americans, this is what we do. Things get tough and we handle it. We get better and stronger. We figure it out. This is who we are. It’s a theme reflected in something as serious as our Civil War and as inane as the movie, Animal House. “Over? Did you say over? NOTHING’S over until we decide it is.”
You know what’s right. Stand up. Be a leader, and do what’s right. Stop focusing on “how the game is played.” It’s not about tasks…it’s about being inspiring and leading your teams, your credit unions, to where they should be. And that destination is different for all of us.
Yes…I’d like to see the folks who have titles that include any version of the word “president” or “director” to be the humble Level 5 leaders that Jim spoke about. But, I also want to see it in our staff…ALL of our staff. Because shouldn’t we all be leading our members?
It’s time for us to stop waiting for someone else (CUNA, your league, your manager, whoever) to lead. It’s time for all of us to do it.
Pardon me while I drag this soapbox away.
December 8, 2010 at 11:49 am
James Robert Lay
Susan… your comments just made this song pop into my head: http://www.youtube.com/watch?v=KOqk_q4NLLI
December 9, 2010 at 7:02 am
Susan Epperson
Ah ha!! I am a fan of that song!! 🙂
I was pretty fired up yesterday, and I wanted to wait until today to post again. But, I’m still feeling pretty passionate. Less angry, but still fired up.
For any of the leaders reading this:
Tell me what obstacles are in the way. What pressures are you feeling that are keeping you from taking the Level 5/Tony Hsieh/Bluto from Animal House route.
Rather than being mad, perhaps it’s time for me to investigate and understand.
December 8, 2010 at 12:51 pm
amandathomaswrites
Denise,
Great post!
My feelings are twofold:
1. People are scared to stand out – in a good way or a bad way. They are afraid that, if the bar is raised and they succeed, that they won’t know what to do to sustain that success because they don’t have faith in themselves. And on the flip side – they are afraid of risking it all and failing.
In my opinion, all great leaders fail at some point along the way. It’s what makes them great because they get right back up and try again.
2. I’ve been saying this for years – it’s a lack of cooperation between staff members, credit unions locally, and our movement as a whole. When credit unions let regulations, NCUA assessments, and economies get in the way of their strategic plans, they start focusing back in on themselves and stop seeing the big picture – they let a bleak tiny picture color their entire world.
We should all be thinking big picture because it will be glorious if we all ascend to be like the leaders described above.
It’s a gamble either way, but it’s worth it. I’m all in.
December 8, 2010 at 5:08 pm
Tim McAlpine
Sometimes, the indecision in the credit union industry is like watching a car wreck in slow motion. Maybe if we don’t say or do anything it will all get better.
I’m often reminded of this joke.
“Well, that truly is a remarkable pig. But tell me, how did he come to have only three legs?” “Are you kidding? A pig this good, you don’t eat all at once.”
Now replace pig with credit union industry and you get my drift…
December 9, 2010 at 5:35 am
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December 9, 2010 at 6:35 am
Roger Conant
Credit Unions in New Mexico are lucky to have you, Denise. Great wisdom and inspiration here!
December 9, 2010 at 8:16 am
Meghann Dawson
Great post Denise! My team recently watched the Jim Collins presentation from The 1 CU Conference and have used it as a starting point for a discussion group to take our team from good to great. Collins has so many concepts that I believe have the potential to transform an individual, a team, a credit union and even our movement. From simple ideas like starting a “stop” doing list and creating pockets of quietude to sit back and take a break from all interactions (turning off your blackberry/iphone) to think up your next great idea to more complex ideas like the hedgehog concept (the intersection of What you are passionate about/What you can be the best in the world at/and What drives your economic engine).
The Level 5 leader is totally what made the biggest impact on what differentiated the great from just good companies. What really stands out to me as an opportunity for our industry is the idea of setting up successors for success. I agree with Susan that becoming a thriving movement isn’t just going to come from the top, it will need to be an effort from all staff. That certainly doesn’t let our current leaders off the hook, we need them to provide a culture that cultivates level 5 leadership. It starts with hiring people that embody the traits of a level 5 leader, people who are humble and passionate about being part of a movement and not just looking for another job. It then takes an ambition for the credit union and it’s members and continually aiming for future success for them and not just for personal gain. Investing in the development of those staff who will help your credit union/trade association/company thrive well past your time there.
Collins starts off the Level 5 Leadership chapter with this quote from Harry S. Truman and I think it simply gets to the core of the concept – “You can accomplish anything in life, provided that you do not mind who gets the credit.”
December 9, 2010 at 8:25 am
Denise Wymore
Meghan,
Thank you so much for this post. Coming from CUNA that means a lot to me. And I love the Harry S. Truman quote. A couple of years ago I helped form a CUSO – the Member Loyalty Group. I was so passionate about bringing NPS to the credit union world I spent months recruiting owners. And when it became a reality I was asked if I wanted to run it. I had never intended to run the thing – I just wanted it to happen.
Then I was asked “Well, why did you sacrifice so much of your time, energy and personal expense?” I Harry Truman’d it with my response. I don’t need credit for this – I don’t want credit – I want change. I want credit unions to focus on the member/owners again. Today the Member Loyalty Group has 25 clients, and in April of 2011 will hold their First Annual Credit Union only NPS Conference. It’s a movement within a movement.
I drank the credit union Kool-aid 30 years ago. I’ve said this before, and I’ll say it again. Credit unions are not going down on my watch!
Who’s with me!!!??
December 9, 2010 at 12:30 pm
Meghann Dawson
I’m with you! I drank the kool-aid just 7 years ago and am so happy I did. Thanks for this great post – combining Jim Collins with credit unions – you couldn’t go wrong.
December 9, 2010 at 9:52 am
Fred Brown
Who’s with you? Are you kidding me? Oh,,, just about every cu employee out there.
That’s what we (as a people) look for. Someone to stand there and say “Follow me. I know the way” and we’ll follow that person through hell and back, (which goes right through my back yard).
I propose that we, the disenfranchised, go to our respective bosses and ask what can we do to make this a better place. A better place, not to work, but to exist.
Whoa, now where are the donuts?
Fred
December 14, 2010 at 12:24 pm
Susan Epperson
Hey Fred…why are we asking what we can do to make this a better place?Why aren’t we just doing it?
Is it what Amanda said (and I paraphrase) “They’re just too scared.” ?
If you’re scared, say you’re scared. And if you have a cinnamon apple-filled donut, please pass it this way.
December 9, 2010 at 10:34 am
Jason M. Dias Pres. Eloquent Online
Denise,
You keep talking and people like me will keep getting it. Thank goodness for the common sense that we find in the voices of Denise W, Ondine I, Timmy Mac and Matt D. However, for my part, I have never read or heard anything Jim Collins has ever written or said. My model for making Chetco FCU and Eloquent Online successful during this challenging time has always been the American Military model, specifically the period of time between 1989 and 1990. In less than two years the entire US Military shifted its mission from a continent-based battleground in the dense forests of Europe to a conventional wrecking ball in the open desert of Iraq during the first Gulf War. Find me a more significant “paradigm shift” and Ill send you 50 bucks. The results for the US Military not only speak for themselves, but I was a participant and a witness to the effectiveness of simple leadership and teamwork. Not leadership with a hyphen or number associated it with it, just simple leadership and the understanding of everyone involved that we had a simple mission: Beat anyone, anytime, anyplace, Kill the enemy or make them give up.
Can CUs get their head wrapped around that? We’ll see. As for you Denise, you keep doing what you do, you are like a Sergeant Major who combines experience and effectiveness: a great combination. But credit unions need to go into decade 2 of the 21st century at the controls of an M-1 Abrams Tank, they can read a book and watch videos when the battle is over.
December 9, 2010 at 11:17 am
Deb Evans
Denise- where is the clip? I would like to watch it in addition to reading your comments.
December 9, 2010 at 1:25 pm
Denise Wymore
Deb – the clip is embedded in the blog post – if you can’t see it it’s likely your IT Nazis have blocked it. And THAT is a rant I have still simmering….gheez! Let’s make sure employees are in the dark!
Try looking at it at home or on your iPhone…; – )
December 9, 2010 at 1:27 pm
James Robert Lay
I concur that sometimes the video does not pull up. Think it might be a You Tube embed issue. And we have full viewing/streaming rights here. Try using a direct link to YT: http://www.youtube.com/watch?v=q-KyQ90XByY&feature=player_embedded
December 9, 2010 at 1:31 pm
Denise Wymore
You’re a nice boy James Robert – thanks for being my IT dude.
December 9, 2010 at 1:31 pm
Deb Evans
Ok, have not had any trouble with other blogs or articles so far…and I see the space for it, just nothing there. Since no one else noted the absence, I was thinking it must be on my end….
December 9, 2010 at 1:43 pm
Deb Evans
Oddly, my IT dude was here and thought it was a flash issue….still not resolved. But, I was able to use James’ link to YouTube link. So, will see it one way or another. Thanks to both of you. I’m a huge fan, Denise.
December 9, 2010 at 2:23 pm
Denise Wymore
Does he hate me because I called him an IT Nazi….
December 10, 2010 at 1:25 pm
Deb Evans
Nope. I decided it was prudent to leave that part out….
December 10, 2010 at 1:26 pm
Denise Wymore
good call……