No, VIM Executive Coaching is not about to go into the financial services business, but there are parallels between the career of an executive leader and Wall Street.
It was J.P. Morgan, we believe, who once wisely said something like “The one thing for certain I know about the stock market is that it changes.” In his case, he played those changes and became a man of incredible wealth.
The Executive Leader’s Stock
We have all known executive leaders who, because of many reasons, saw their “stock” fall from the highest of heights into an abysmal abyss. In fact, there have been some whose stock would never rise again; they became the “Buggy Whip” or “Stanley Steamer” of stocks.
Conversely, some executives who have been consistent under-performers, have seen their stock rise Phoenix-like to dizzying hi-tech or biotech heights. However, we would contend that neither scenario is desirable.
Obviously, we would rather be organizational heroes than goats, but unless there is a driver, a rationale for the skyrocketing price, it is bound to plummet. Many a stock has fallen after the anticipated good news turns into a research thud. Many a rising star executive has fallen after being accused of unethical practices or sexual harassment or other unacceptable viewpoints, outbursts or leadership failures. It brings this post around to a basic truth.
Executive leaders often change prominence as the fortunes of the organization change. Sometimes those changes are beyond control, but quite often, they were avoidable.
Watch the Analogies
We are aware that analogies can only be taken so far. When talking about stocks, we might talk about hedging or straddles or buying options. What does an executive leader “buy” to guard against an inexplicable rise or a dismal crash? There is no leadership insurance per se. However, there is the development of mindfulness, and that is where we would like to focus for the remainder of this post.
The mindful executive leader, the leader who has cultivated awareness in the moment in terms of interpersonal relationships, authenticity, compassion and response, is by nature, consistent. Consistency in leadership will see the organization through the best of times and may at least help to mitigate the problems during the worst periods.
There are, to be sure, times when despite the best of efforts an organization may fail. There are times when the organization will lose or even go bankrupt. However, the mindful executive leader will either endure in the situation or will be able to change situations with reputation intact.
The mindful executive in the consistency of the moment, responds to challenges by bringing the same person (themselves) to every situation. Whether that situation involves negotiating an employee squabble or rolling out a new line of products, the executive leader will respond from within themselves.
One misunderstood point about mindfulness is that the mindful executive leader is somehow dull or unresponsive or unambitious. These are not accurate characterizations. The mindful executive has emotions, responds quickly if the situation calls for it, or can take on ambitious, organizationally changing positions. However, the executive leader will predictably respond based on logic, solid business leadership decisions and will do so within context.
In the stock market of executive leadership, the stock will be a steady performer that will yield organizational dividends.