Where are You in the Venn Diagram?

As leaders, we’re constantly calibrating our Venn diagram. To truly lead, we must know where all stakeholders stand on decisions we are considering.  

It’s a nonstop balancing act, needing the most skilled trapeze artist! Every leader I know walks a fine line as they build consensus across opinionated investors and donors, board members, employees and others.  Funny how these groups never seem bashful about sharing their opinions 😊 

As you master your leadership craft, you learn how to transform the thin trapeze wire into a wider balance beam. The path you construct is grounded in shared interest and alignment.  The collective moves forward. When it works, it feels like magic.  

But what about your own interest as the leader? Where does that fit in?  

When you architect the Venn diagram, always remember that your interest is the glue that binds all other interests together. And if your interests aren’t built in, this adventure will come to a grinding halt before too long. Trust me. 

So, as a leader, it’s important to weave your interests into the mix. I call that flipping the Venn diagram. What does that really look like? 

Make sure you’re fairly compensated: Yes, I know this doesn’t get discussed in polite company. But it needs to be said first. A leader needs to be fairly compensated based on their unique value, what’s in line with the market and what they accomplish. This needs to be understood from all sides when compensation gets finalized. If not, this will be the original sin that ultimately drives organizational failure.  

We often make the compensation question harder than it should be. I counsel clients, both Boards and leaders, to agree on comparables very early, set firm benchmarks for bonuses in line with core strategic aims, and agree on a regular timeframe for re-assessment of compensation. Get it done right and get it done as early as possible. Keep it clinical. Validate you are market-based. With that foundation, you’re set for the future. 

Build Lasting Relationships and Networks: An effective leader is the face of their enterprise. Doing your job well requires you to regularly engage investors, stakeholders and others critical to success. If you’re not spending at least 25-30% of your time in this pursuit, something isn’t working. 

Your outreach is designed to advance your entity’s strategic aims. But these relationships can and should also serve your long-term interests. There is a powerful win-win at this moment for both you and your enterprise. So be highly intentional in who you reach out to serve both needs. Then spend time during meetings to get to know people and learn about them and life in general. Keep in touch with contacts afterwards and congratulate them at key professional moments. Keep updated through their outreach materials and postings. The personal connections will sustain you in the short term. They can also prove enormously valuable in the longer term. 

Polish Your Skills: Define where you need to build your own skill set to move your organization forward. Building those skills will serve your organization, and you’ll carry new skills going forward for your entire career. So be thoughtful about defining your skill needs and then be intentional in pursuing them. Don’t hesitate to ask your Board for professional development resources! If it is truly helpful to the organization, it deserves to be considered for an allocation of resources. 

Build Your Legacy: As you build your enterprise, consider what it will look like when you leave. Yes, for most of us, that time will come! At some point, you’ll be ready to climb the next mountain. What will you be remembered for? Consider your legacy as you drive forward large-scale strategic investments. An easy example is through capital investments that will certainly outlast you. If you build a new headquarters , does the space drive collaboration, greater engagement, innovation and culture? There are plenty of other examples. It shouldn’t be about you. But it ultimately will be a reflection of you. 

There’s a powerful symmetry when you have alignment between organizational interests and your own. So, as you power forward, remember that you are also a passenger in the rocketship you’re building. Strap in! And make sure you get a decent seat to enjoy the view.