26Sep2024
If Day 1 of NBF 2024 focused on the courageous decisions that allow businesses to maximize potential of their talent and resources, Day 2 was an exploration of how leaders can successfully navigate the external factors affecting their business. Let’s explore 6 more courageous leadership lessons hand picked from today’s inspiring keynotes.
Björn Wahlroos: Bureaucracy is not leadership
For 6 decades, the EU has given us peace, prosperity, and growth. But competitiveness is now under challenge across the continent. According to Björn Wahlroos, the spiralling bureaucracy and granular regulation that stifle many European economies are in fact symptoms of a leadership vacuum in Brussels.
“Have you ever wondered about why nothing ever happens when you vote in the EU elections?” In Wahlroos’ opinion, this is because the majority of EU political candidates are politicians and former prime ministers that their own parties are glad to see the back of. If we are to escape centralised bureaucracy and make real changes, the EU needs to consider how it can attract more political visionaries from across the continent into meaningful leadership positions.
Dr. Mario Draghi: Everything we do is fragmented
The EU was originally envisioned as a unified market that empowered its members to handle the local legislative nuances of their nations within the parliaments of their countries. In reality, it has created a fragmented market that places many stumbling blocks in front of companies looking to scale. Additionally, increased centralisztion is taking agility and agency away from its member states.
No EU company founded in the last 50 years has achieved a valuation north of €150 billion. The US, by comparison, is home to 6 companies with trillion dollar valuations. According to Dr. Draghi, “the only possible route for the EU out of its current stagnation is more subsidiarity, more integration, and a revisitation of regulation—especially in the digital space.”
Bozoma Saint John: Be in charge of what people say about you
Marketing is identifying the points of connection that help people collectively embrace an idea. Branding is having the courage to share your opinion on what points of connection matter. And this opinion is more genuine and understandable when the brand is clearly defined from within and enforces the business strategy across all touchpoints.
Saint John believes “the courage of a brand is to remain consistent, even as it evolves.” This is only possible when leadership is able to comfortably answer the question of what they want people to say about their business. If an executive team struggles to provide a clear answer, they have some homework to do.
However, a carefully built brand allows marketing to rapidly execute on strategy through consistent messaging, building the reputation the company desires.
Chris Voss: Be the difference in people’s lives
Joy. Sadness. Disgust. Fear. Rage. Four out of 5 of the emotions we are born with are negative. In addition, what happens to us in life shapes whether we feel guilty, remorseful, or empathetic in different situations. This is an extremely complex playing field for those trying to authentically connect with people who react very differently in a given situation.
Former FBI negotiator Chris Voss believes that empathy is key to finding the common ground on which relationships are built. “Start by asking them what they love about X. This opens up the deep thinking part of their brain, and when they tell you about what they love, they tell you about themselves.”
Allowing people to fully express their perspective – and demonstrating that you understand their position – makes them feel understood, even if you don’t agree with them. And when people feel understood, you’ve made a difference to their day.
Kim Scott: Most of us have been guilty of ruinous empathy
Google alumni and CEO coach Kim Scott liked Bob. So did the rest of her team. But Bob, while popular, was underdelivering. When Bob turned in his work, Scott heard herself constantly telling him how awesome he was instead of asking him to focus on the quality of his output. Why did she say something so banal? “I didn’t want to hurt his feelings, but more insidiously, I was worried about being seen as the mean boss that caused him distress.”
By adopting ruinous empathy over radical candour, she’d been “unfair both to Bob and my team, who were spending their own time rescuing Bob’s work.” As a result, many were close to joining other companies where they could fully focus on their own jobs. And when she finally confronted Bob and had to let him go, his reply was simple: “why didn’t you tell me? I thought you all cared.”
Brené Brown: Business is about showing up in the face of adversity
By the time many business decisions are made, the data they rely on is often already outdated. This is the reality of today’s highly complex business environment, where constant uncertainty leaves many leaders feeling vulnerable. However, as Brené Brown emphasises, “there is absolutely no courage without vulnerability.”
Often misunderstood, vulnerability is the emotion we experience at the times of uncertainty, risk, and emotional exposure. When we feel vulnerable, we tend to act in two ways – we either reach for behavioural armours like perfectionism, micromanagement, and other self preservation tactics, or we find the courage to confront our vulnerabilities head on and pick ourselves up if we fail. This is what it means for business leaders to show up in the face of adversity.
