Reading: The Value of a Dollar

From Sam Walton, Made in America

Chapter 1: Learning to Value a Dollar

What sort of financial habits are we passing on to our children? Are we passing on appreciation for value? Or are we passing on a lifestyle of materialism?

I admire how he defines being rich based on what he truly personally enjoys, not what other social standards dictate.

On Effective Leadership

How to lead in a fast-changing world. 

This is a very simple guide to effective leadership, with effective being defined as “successful in producing beneficial results”. I deliberately switched the word beneficial for the word intended because many times, in this fast-changing world, our original intentions need refining as well. It is possible to go seek something and find out, in the process of seeking it, that it is not the outcome we really want not need. Much has been said about the agility required in today’s environment. I have realized that an agility of objective is just as important as an agility of execution.

A lot has been written and said about leadership, so much in fact that it’s confusing. This guide does not try to better them. This is simply my personal approach to getting things done in a team, and it follows my penchant for simplification, some would say oversimplification, because it is designed to be easy to understand across a team. 

Here is my leadership framework:

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The Leader

At the center of the framework is the Leader, the primary agent for progress in a team. A leader takes on the responsibility of causing the team to a better place. I think it is important to be clear that the leader does not solely bring the team to a better place. Getting there, that better place, is a team effort. Saying that a leader causes it means he or she gives rise to the team actions that result in the outcome. 

The Three Core Abilities

To lead effectively, a Leader must have the following abilities:

  1. Clarity: Clarity refers to the ability to define and communicate the shared values and compelling mission that leads to the attainment of a great vision 
  2. Competence: Competence refers to the ability to bring together a team of people who are purpose-driven, principles-led, and performance-oriented, and to harmonize them into living out the values, pursuing the mission, and realizing the mission the team shares. 
  3. Capital: Capital refers to the ability to marshal and manage the resources we deploy to pay for the necessary human, financial, and social costs. Capital will always be finite. The more resources, and even more, the better the stewardship of the resources, the more effective the leader will be. 

When Clarity and Capital combine, we have Focus. Channeling our human, financial, and social resources at a very clearly defined outcome leads to benefits such as alignment, less waste, and a strong brand. 

When Capital and Competence combine, we have Productivity. Our resources and our skills together produce good things. This helps us ship out products and services, helps get things done, and helps us do these things in an efficient manner. 

When Clarity and Competence combine, we end up with Dynamism. Dynamism is defined as:

The quality of being characterized by vigorous activity and progress.

When a leader and his team are very clear about what the want to accomplish and have the skills to make it happen, including the necessary collaboration skills, this leads to highly-energized way of working that is not only exciting but gains momentum as it continues. This momentum triggers a virtuous cycle, as it leads to great progress, making the vision, mission and values more real and more achievable, leading to more capital coming in (in different forms), leading to more excitement for the team that translates to even more energy. 

I want to spend a little more time with this one. 

Dynamism in a team is a highly-prized quality but for some reason leaders continue to ignore the factors that lead to Clarity and Competence. Instead of clarifying further the vision, mission, and values, we tend to bloat them with dogma, tradition, and conflicting interests. Instead of ensuring purposefulness, we are busy propping up the past. Instead of principles, we end up with policies. Instead of performance, we are distracted by politics. 

I will write about the abilities of Clarity, Competence, and Capital in more detail, but for now let me leave you with this: Be a dynamic, productive, focused person; and surround yourself with dynamic, productive, and focused people. I can’t think of a simpler leadership hack than that. I am privileged to be surrounded by such people, and that is an earned privilege for deliberately making sure I am dynamic, productive, and focused. You will attract more of what you are. #DB

Professional Growth Requires Personal Growth

While we like to think that life can be lived in neatly separate compartments, the reality is that all the different parts of us flow into all the other parts. It is our responsibility to make the different areas of our lives thrive, by developing each as best as we can, and fixing the connections between them.

I’m writing this for young professionals (and maybe even some older ones). I’m writing this because I keep observing a disconnect between what people want and what they’re willing to do to achieve them. I see this in many areas, and the common mistake is wanting something without accepting the responsibility that leads to what we want.

“I want to be healthy. But I don’t want to give up sugar.”

“I want to be successful. But I only want to work 9-5.”

“I want to get married. But I don’t want to risk getting heartbroken.”

“I wish for world peace. But I need to love myself first.”

“I want a better government. But I won’t vote.”

I can go on and on and on about the number of times I’ve spoken to people about their resolutions, faith goals, OKRs, and ideals, only to listen to them conclude with excuses. This reminds me that, for all our so-called advancement and enlightenment, we are not as rational as we think. What kind of truly rational person would believe, “I want something but I don’t want to fulfill the requirements of achieving that something.” That is as irrational as believing in unicorns. Isn’t it more rational to accept, “If I want something, I must do what is necessary to attain it”? It is.

What do you call accepting of personal responsibility for one’s own results? In a word, maturity. Maturity IS personal growth. It isn’t reaching a level of perfection or of taking less risks, or having less failures, or even of committing less mistakes, but finally accepting that I am who I am, I am where I am, I have what I have, because of my decisions, and if that I am to advance from here, I need to grow – personally. I can’t hide behind my team, my family, my nationality, my excuses, nor my bright ideas. I, David Bonifacio, need to accept responsibility and do whatever it takes to fulfill what’s required.

This is why I ignore 99% of the business advice out there and focus on the information that will help me satisfy the requirements of my responsibilities. It doesn’t matter how cute or good sounding it seems, if it doesn’t help me be more responsible it is virtually worthless to me. Professional growth does not come from buying new gadgets, downloading new productivity apps, applying some life hack, nor getting a promotion. Professional growth starts and continuous through the acceptance of more and more responsibility. I love this approach because it puts my promotion in my hands, not someone else’s. I don’t need anyone to promote me. By increasing my sphere of responsibility, by being more and more personally accountable, I am promoting myself.

The bottomlife is this: Professional Growth Requires Personal Growth. Unless we deal with the personal weaknesses in our lives, we will never be truly professionally strong. Unless we deal with our personal bad habits, we will never be professionally sustainable. Unless we deal with our personal demons, we can expect those very demons to haunt our careers. I know this from experience. This is why I believe in a daily moment of prayer to spend time with God, because I know I have my own share of demons that I don’t want hurting what I’m building. Instead, I don’t want to react. I don’t want to be easily-triggered, easily-worried, easily threatened, and easily-angered. I want to understand, so I need to clarify. I want to be wise, so I need to be teachable. I want to achieve, so I need to be diligent. And the gap between who I want to be, what I want to achieve, and who I am now is vast! But I accept that reality, and embrace the responsibility to develop myself continuously.

And after all of that, what happens if I fail?

Then I failed. As simple as that.

But by being responsible, I improve my chances of success, though never really eliminating risk. Risk is part of life. Get used to it. At least, I wasn’t a coward, nor irresponsibile, lying to myself that the ills of the world were not of my doing, when my own lack of contribution made them possible. The goal of life is not to die unscathed. The goal of life is to love God and others with the outflow of the best possible version of you. #DB