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You know what’s coming next, don’t you? Now that you have three people identified who share your values and may be capable of carrying on your legacy, it’s time to take action.

Today, meet with one of the people you’d like to invest in and begin to develop an action plan for intentionally developing him/her…think about relationship building, what training and mentoring they might need, what kinds of experiences do they need to have, and how you can instill your vision in them. What steps do you need to take to help them understand your vision and help prepare them to carry on your legacy?

We all die. The goal isn’t to live forever; the goal is to create something that will. ~Chuck Palahniuk

I believe I’ve mentioned the idea, before, about how with every interaction we have the opportunity to build or damage trust (earn trust dividends or pay trust taxes, as Stephen MR Covey would say). Well, there are other types of capital for leaders; in addition to trust, there is personal capital (ability, time, and influence) — things you have control over, and corporate capital (brands, product lines, etc…). Every day, and throughout your career, you will have the opportunity to make trade-offs with the various types of capital you have within your control. As we would with our money, we might make a withdrawal of one type of capital in order to invest it in another area, with the expectation of a positive pay-off at some point in the future.

In many ways, your legacy as a leader will be defined by your ability to shift capital from unproductive ventures to more profitable areas.

For an example of this, take a look at Indra Nooyi, chief strategist of PepsiCo, Inc. She was the driving force behind Pepsi’s transition from just being a soft drink company to becoming a more diverse producer and distributor of some healthier fare. Under her direction, the company bought Quaker Oats, which brought Gatorade and Quaker Oatmeal into Pepsi’s portfolio. She also drove the acquisition of Tropicana, which allowed Pepsi to add a well-known fruit juice to the portfolio. Later, she persuaded the company to sell Pizza Hut, Taco Bell, and Kentucky Fried Chicken, essentially getting out of the “fast food” (or Quick Serve) industry.

Because of her efforts, only 20% of Pepsi’s sales wee from soft drinks by 2006, compared with 80% for Coca-Cola. Based on her accomplishments, Nooyi became CEO of PepsiCo.

What do you think she said when asked about the legacy she hoped to leave? She wanted Pepsi to be regarded as “both a commercial and moral success — turning profits while combating obesity.”

That’s a tall order, one might say, but it’s clear the woman is not easily discouraged by circumstances and conditions. She has a vision, she has the capital — both personal and corporate — to use at her disposal in crafting the company she dreams of…

Let’s transition now, and look inward. In what area of your life / business do you think you are wasting capital?

What can you do differently to reinvest your resources for a more favorable outcome?

Do you remember the days before photocopiers were everywhere? I do…I remember in Junior High School, being a teacher’s aid for the elementary school across the street. The teacher asked me to make copies of something she was planning to share with her students. I had to use what was called the “mimeo” machine (short for mimeograph, if I recall correctly). The original was a carbon copy with tracing-paper thin pages, and there had to be fluid in the machine, and you had to line the page up straight and catch the top in this “gripper” thing…ooof! It was a difficult and annoying exercise, to say the least!

Well, others had just as difficult a time, if not more so, duplicating documents. Chester Carlson worked in a patent office as a young man. He routinely experienced the costly and time-consuming process of obtaining copies. Motivated by his frustrations, he set out to discover an alternate way to make copies.

Through intense research and experimentation, he patented an inventive way to make copies. His patent was ingenious, but marketing it proved to be quite difficult. After all, he was a newlywed, earning a modest salary, studying law, and living with his in-laws (just a few challenges and constraints, wouldn’t you say?!).

While he could see the commercial applications for his invention, he had trouble selling the merits. IBM, RCA, and Kodak all turned him down. Even fellow scientists at the National Inventors Council dismissed his ideas as impractical. As anyone would have been, he grew more and more discouraged and nearly gave up on his interest in photocopying several times, but just couldn’t quite get it out of his system.

Eventually, Carlson had an experience similar to that of Theodor Geisel in trying to get his first children’s book published; Carlson was rejected by about twenty organizations before he happened upon Haloid, a tiny company in Rochester, New York. Haloid invested research funding to develop Carlson’s patent and over time created the first copying machines. Haloid would turn the business world upside down with the new machines, essentially vindicating Carlson, making him a multi-millionaire 21 years after he secured his patent. You may not recognize the name Haloid, but surely you are familiar with Chester Carlson’s company, Xerox!

When leading, others may not initially see your vision as clearly as you, and some never will. Like Chester Carlson, and millions of others before and after him, you may spin your wheels for some time…weeks, months, even years, before your vision gains traction. To find success, you must find and display a bulldog-like tenacity to stick with what you believe in.

Today, journal about someone who has inspired you to persevere through unfavorable conditions. What have you learned from this person?

How can you use those lessons to help you persevere?