3 Major Sources of Executive Stress

When you have time, please read my ezine article, “3 Major Sources of Executive Stress”.  It will offer insight to the traits that frequently contribute to stress and ways to solve them.  I also believe entrepreneurs suffer from the same stressors, so I decided to interview Fran Verotsky, Director for the HACC Institute of Entrepreneurial Studies (IES). The IES program offers the tools for entrepreneurs to navigate owning a business and thus helps to prevent stressors through education.

Here’s her interview:

Background Info: What did you before this role?

Prior to this position, I have held several different positions of HACC:  faculty in the Business and Technology Departments; several administrative roles.  I come from a family of entrepreneurs.  My Mom and Dad were business owners; so, I grew up in that business atmosphere.

Tell me about the HACC Entrepreneurial Studies program.

The HACC Institute for Entrepreneurial Studies is designed to increase economic vitality in South Central Pennsylvania by providing business counseling and education opportunities to entrepreneurs and by creating partnerships through outreach programs with small businesses, government agencies, and community organizations.

The IES is in existence ten years.  We are proud that we now have a presence at all HACC campuses—Gettysburg, Harrisburg, Lancaster, Lebanon, and York.  At all locations, we provide one-on-one business counseling, non-credit classes, seminars, networking opportunities, and Artisan Marketplaces.   We also have begun offering online classes and webinars.

On the credit side of the IES, HACC offers an associate degree and certificate in Entrepreneurial Leadership.  Most of these courses are offered at our Midtown1 location in Harrisburg with some being offered online via our Virtual Campus.

Our clients encompass members of the communities where the HACC campuses are located and HACC students—with the majority being individuals who reside in HACC locations.  The biggest impact our business counseling services and other programs make on emerging business owners is the security of knowing that one of our business counselors is available in a confidential setting to address particular needs.  We pride ourselves by offering this 1:1 service in a long term situation with ongoing appointments and provide the individual with the necessary information and plan.  It is then up to the entrepreneur to take that first giant step into business ownership.

The HACC Entrepreneurial Studies program has a unique opportunity to help mold those who are just about to go into business for themselves. Some of these business owners may become executives. How does your program addresses the sources of stress, which Sylvia mentions (fear, control, and over thinking)?

After discussing these questions with our IES staff, here are some comments to this question:

We believe that “truly” knowing our clients well and building a strong business relationship is a key factor.  It is common to find it difficult to talk about fear, failure, and over thinking. Owning a business is risky business; therefore, entrepreneurs need to be risk takers.  That has to be understood.  Allowing a person to discuss these elements of fear, etc. eases some of that anxiety.

Planning is essential.  However, some of our clients plan for years and never open their business.   Then they find out that someone else came up with a similar or identical business idea, took the leap to start the business, and became successful.  Over-thinking is not always the best way to consider options.

Getting involved with networking groups, such as our IES Talkabouts, lets individuals know that they are not alone in their apprehension.  We find it truly amazing to watch our clients grow with self-confidence.

Having a passion for whatever product or service you dream business is will be a necessity.  A business owner has to have the entrepreneurial spirit.

The program has been in place for several years. Have you seen students who have had their business come to fruition? How have these people changed from when they first started your program?

Several students have pursued their business idea and have been successful enough to support their financial needs.  Many have tried and changed their idea or gone into business on a part-time basis.

Many of our clients seek our services to gain an understanding as to what is essential in getting their business started.  They have the idea; we help them begin their entrepreneurial journey.   Creating a business plan is one of the biggest obstacles our clients have.  We assist in writing the plan; we do not write it for the client.  This gives the client a clear understanding of the process and allows for their ownership of the business plan.

What advice would you give to someone looking to start a business in 2011?

Many people feel that the economy is unfavorable to new business development.   That is true for some business ideas that would clearly be affected by customer spending, unemployment, transportation needs, and inflation.  However, we at the IES feel these times offer an opportunity than can prove to be prosperous.  Our client numbers have increased since the overall economy has slowed down.  With careful consideration and planning, a business started in 2011 can be as successful as those started at any other time.

For more information on the IES program, check out their website and their Facebook page

A Closer Look at Artful Management

This week, I focus on my e-zine article, “10 Characteristics that Get Results.” I thought I would dig deeper into some of the characteristics to offer guidance to both managers and employees!  The first characteristic I mention is that artful management requires being aware and observant of your staff. A “one size fits all approach doesn’t get you optimal results.” Many companies institute a policy and expect the same from everyone. Additionally, they have a “cookie cutter” approach to staff reviews, which does not apply to all employees. But how do companies to start to break the mold of these standards?

First, all companies must have standardized personnel related policies in place.  These policies provide operating structure and guidance for dealing with employee behaviors, problems, and needs.  These policies also appropriately include a process for evaluating staff performance.  Or at least they should.  There is great value in well written personnel policies and procedures.

Second, while an established process for conducting staff evaluations is necessary, the way a supervisor delivers these evaluations can and ought to be individualized for each direct report.  When a boss knows her staffer, she is in a position to address evaluation content in a way that ultimately yields the best outcomes from that person.  That is where the art comes in.  The established process merely provides the framework for an annual review.  What a supervisor does with that framework makes all the difference.

Artful management is also about taking action even if it’s difficult. How should a manager prepare for a critical conversation with their staff?

If the conversation needs to focus on employee performance or behavior, the supervisor needs to consider each of the following:  primary message, tone of delivery, documentation of evidence, and impact of the performance issue or conduct on others.  Approaching a staffer with a complaint or criticism with uncontrolled emotion, little or no documentation, and lack of clarity around environmental impact is unacceptable.

Looking at the whole picture and being proactive rather reactive is a valid tip. Organizations may have intentions and try to be proactive, but it seems somewhere along the lines there is a shift to reactivity.

Functioning in a reactive mode is easier and usually habitual, and that’s why organizations continue to operate this way.  Functioning in a proactive mode requires more strategic thought, more creativity, and more planning.  Switching from reactive to proactive takes conscious, disciplined effort.  There is no easy path from one to the other.  Changing any habit common to human behavior requires something of us that does not necessarily come naturally.  Supervisors could set up a culture in which employees hold each other accountable when they observe reactive responses to situations and problems.  Many authorities agree that it takes 21 days for people to change a habit if they are truly serious about doing so.  Even after the 21 day period, we need to remain diligent.  But the good news is that it can be done.

Next, it’s important to honor your staff for a job well done. This can easily get overlooked, yet this is a critical component to both employee satisfaction and employee work quality. It’s often because the manager is “too busy.”

Some managers use the excuse that they are too busy to recognize excellent work.  Others don’t believe that this is important.  Regardless of the reason behind the failure to praise, employees who need more regular feedback from their bosses can simply request it.  They can approach their supervisors and say something like:  “I feel as if I’ve been exceeding expectations lately.  I’m curious how you feel.  I’d like to know, from your perspective, where I am doing a great job and where I could use some additional guidance, training, and experience.”

A Deeper Understanding of: “Business Confidence – How You Know You Have It”

As some of you may know, I have published multiple articles on ezinearticles.com. I decided to delve further into some of the articles with a Q & A to help analyze questions business owners frequently ask  me. The article I chose is, “Business Confidence – How You Know You Have It”  http://tinyurl.com/2epn9ny

Q: Once you first start working with an executive or his/her team, do you find most are unaware of their natural abilities? 

A: No, I typically find that most persons in management positions are very aware of their strengths and areas of challenge.  However, what I see most often is people not necessarily knowing how to LEVERAGE their strengths and natural abilities in a way that really serves their organization as well as themselves.

Q: Is it true that, as we age, it becomes more difficult to step out of our comfort zone and try new things? How do you advise someone who is scared of change? 

A. Making changes or stepping outside our comfort zones can be more difficult as we age.  That is true.  When I discover this reluctance or resistance in my clients, I help them to identify specific action steps that will lead them to whatever they want to accomplish.  Then I support them through each of those action steps until they reach their goal.  The key is to break down the process into small, manageable steps to reduce the fear.

 Q. Decision-making can be a struggle. Do you have a suggestion for how long someone should consider their options before making an executive or business decision? 

A. Persons in management roles have to make many decisions, large and small, every day.  It’s important for them to gather the information they need in order to make wise decisions.  Major decisions with great impact upon lots of people and company bottom line demand a longer period of time devoted to information gathering.  Eventually, though, the manager has to bite the bullet and make a decision.  And live with the consequences of that choice…which is not always easy. 

Q. Can you give a good example of how business owners can stretch themselves voluntarily, but not ‘over-do’ it?

 A. Yes.  One example would be to develop a business plan if they don’t have one currently.  It’s amazing how many businesses don’t have a formal plan.  Get a copy of Jim Horan’s workbook entitled, The One Page Business Plan, and complete all of the exercises.  Once those exercises are done, the business owner has the necessary substance for the plan.  Then it’s just a matter of organizing all of that material into a basic, readable document. 

Q. I think it is the law of nature to struggle with setbacks. Do you recommend setting a “grieving period” to help overcome disappointments? 

A. Managers and executives are people first.  They have emotions, and those emotions need to be acknowledged and dealt with before they can move on to the next project or task.  So yes, they ought to take time to reflect on what went wrong—and why—before attempting to file it and move forward.  The period of reflection may last a few hours or weeks, depending upon the magnitude of the disappointment or setback.  It may be beneficial to talk with a trusted colleague or friend about the situation during the reflection period. 

Q. Addressing problems in a systemic way makes sense… but why is it sometimes harder to confront conflict than it is to simply “deal with it” grudgingly? 

A. Most people are not trained to deal effectively with conflict.  In our families of origin we may have grown up witnessing conflict being swept under the rug or being dealt with violently.  As a result, many people fear conflict.  The fear prevents them from coping with it in a healthy, straight forward manner.  We like to pretend it doesn’t really exist, or that it’s not as bad as it is.  We often run from it.

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