by Doug Gray | Dec 12, 2024 | change, Coaching, family, Financial Professionals, Leadership, Managers, organizational leadership, Sales, strengths, Success, talent, talent assessment
I’m often surprised at what business psychologists know, that ANYONE could benefit from knowing and practicing…
This content is #1 of 3 articles.
Title: The HERO Model: An approach for Navigating Organizational Changes in Family Enterprises
All leaders and advisors struggle with Organizational Change. How could our work be anything else? Family enterprises are infinitely complex. No one likes to be told to change. We all bring our biases and adopt heuristics to reduce that complexity. Attorneys say, “We mitigate risk.” Wealth advisors say, “We leverage capital assets.” Next Gens say, “We want to innovate.”
We all use heuristics (patterns for what works) to reinforce the structures that reflect our worldview for each family system. One common example is the multidisciplinary views of capital, that include financial, social, human, family, legacy, and intellectual views of capital. Those views of capital are resource-based, and the capital diminishes as we age. In my final years, for example, I will forget people and information, and my financial assets will be invested into healthcare… just like each of our clients.
What would happen if more practitioners adopted a more pervasive and universal view of capital?
Social psychologists (like me) know that Psychological Capital (PsyCap) is a dynamic, validated construct that can be used to describe our clients. PsyCap is defined as a construct based on 4 inter-related competencies: Hope, Efficacy, Resilience, and Optimism (see the APA link here, or read the book here).
As the primary author, Fred Luthans, recently stated to me, “PsyCap has and continues to take off across the world … I have over 166,000 citations of my research which has been awarded in the top 1% of all researchers in all fields in the world and ranks #1 in organizational behavior textbooks. In other words, I am very happy with how PsyCap research is going, especially in the global economy.” (direct communication 9.5.24).
The HERO model is more than a convenient acronym. The HERO-within model is a critical approach that practitioners can apply at multiple levels- individual, team/ family, and organizational/ societal.
I have applied the PsyCap model with countless clients for decades. You can also do so!
And ANYONE can apply this model to themselves.
Practitioners, by definition, need to practice new behaviors and share them widely. My opinion is that practitioners have a fiduciary responsibility to practice both new ideas (innovation) and celebrate strengths (stability) every day.
The purpose of these 3 short articles is to introduce the HERO model, like a new vocabulary term, and examples that can be applied by advisors in any discipline. I invite you to assess how you can apply these practical examples with yourself, your loved ones, and with the clients you serve.
Imagine that you are building a house with a garden that you hope will support generations of loved ones. Hope is defined as “the will and the way” to build a better future (read the book here). Every business founder believes “I can build this product or service.” Their hopes are often defined in founder’s history books or videos, vision statements, the stories told and re-told at gatherings. Efficacy is the capacity to build that new house, to get the job done. We all use blueprints such as values statements, family constitutions, charters, phased strategic plans for new projects. Resilience is our capacity to respond to adversity by returning to the same or a better level. Examples include our responses to global disease, market adversity, or loss of our loved ones. Optimism is our choice to believe in a positive outcome, such as well-being for our children and grandchildren. All four of these competencies can be measured, taught in under 90 minutes, and developed over time. The PsyCap impact is more significant when all four competencies are measured (a second-order effect) than when only one or three competencies are measured.
Here are examples for how we can accelerate PsyCap at three levels: Individual, Team/ Family and Organizational/ Societal.
Article #1 of 3: The HERO Model applied at the Individual level
We all need to look in the mirror at times. We all need to exhale. All good leadership development models start with self-awareness and lead to new actions, so it makes sense to start this list of activities with assessments, then several new behaviors that you can implement immediately.
A. Pre-Meeting or Annual Surveys. For years I’ve embedded these 4 questions into surveys so that I can provide a summary of PsyCap changes over time. Directions: On a scale of 1 (low) to 10 (high) how do you assess each of the following?
1. Hope. I have “the will and the way” to achieve my goals.
2. Efficacy. I feel confident that I know what I need to do to achieve my goals.
3. Resiliency. I can get through difficult times or challenges.
4. Optimism. I am optimistic about what will happen to me in the future.
When I share the data, I also encourage people to use these four vocabulary words regularly.
B. Self-Assessments. Individuals and teams can clarify values using free tools like https://www.viacharacter.org/ or https://www.lifevaluesinventory.org/
Personality and behavioral data including strengths and derailers can be assessed from https://www.hoganassessments.com/ or https://www.discprofile.com/
C. 360-Assessments. The most valid form of assessment is anonymously collected from others and focuses on the behaviors of family and non-family leaders. See my process at https://assessnextgen.com/
D. Reflected Best Self activity. When I ask 10-15 people to describe my strengths and weaknesses, those details can help me identify how I can be “At My Best.” Our colleagues and loved ones may never have been asked to provide feedback or advice. (See details at https://hbr.org/2005/01/how-to-play-to-your-strengths).
E. Three Good Things. The gold standard in social science, with over 100 years of research, occurs when a random sample population repeatedly has a significant result from an isolated behavior. Imagine that you practice this new behavior for a week. When going to bed, write down or state out loud Three Good Things that happened that day. Simple activity, right? If we measured your subjective well-being (happiness) daily, it would increase. Related prosocial measures, like gratitude and kindness, also increase. If you extend your Three Good Things activity into a journal for months and years, then you can ask your loved ones if they notice any results. (read the book here).
F. Adopt a metaphor, such as building a new house with a garden where your great grandchildren can flourish. When we “design a future self or future house” then we can adopt that metaphor and practice flourishing. Ask any founder. Or ask any parent. When we hold newborn children, we always whisper our best intentions and hopes. Why not do the same for yourself and your clients?
Time to pause… what do you think?
Article #2 in this series will focus on the team/ family level.
Article #3 in this series will focus on the organizational/ societal levels of organizational change.
Conclusion
Like every practitioner, I’m regularly reminded of how little I know. I ask for advice, and read, and on good days I listen well. Then I try something new. The PsyCap term may be new to some readers. However, the words “hope, efficacy, resilience and optimism” are ancient and familiar.
If we embrace the HERO model for our loved ones and our clients, then we are practicing ancient wisdom, in a new way. (See my riveting dissertation here).
My experience is that Psychological Capital describes family-centric values over a longer term than any other measure of capital.
Please add your thoughts if you share that bias or want to continue this conversation!
Schedule a 1:1 session here
by Doug Gray | Jul 25, 2013 | Business, change, Coaching, digital, global, Leadership, Managers, Resources, Sales, strengths, Success, talent, talent assessment
I do not know the answer for you. Yet. And it would be presumptuous or disingenuous if I offered a trite response.
Instead I will give you some facts. Then the process. Then what I do know.
Many studies confirm that your cost of good sold (COGS) is 7x higher for a new customer than for a returning customer. So you should focus on providing new value to old customers.
There is a former client who comes to mind. He happened to be a 30 year old financial advisor. But the story is relevant for most of us in specialized fields. He wanted to grow his business. After 3 years he had exhausted leads from his friends and family. He had networked so often that people avoided him at chamber and business development groups and even at Rotary meetings. I asked him, “What kinds of clients do you want to serve?” and “Who is likely to retire in 10 years with a strong book of business that needs to sell the bottom portion to a younger professional like yourself?” and “How can you guarantee that you provide excellent service to that older partner or lead source?” As you can imagine, he had a new partner and provided tremendous value for that person’s clients for many years. However, his answer is not your answer.
I do know the answer for hundreds of other business leaders who are former clients. Since 1997 I have consulted and coached business leaders in manufacturing, health care, education, HR, safety, technology, finance and accounting. I have guaranteed results for clients ranging from executive teams at F500 companies to small business owners struggling to make ends meet. I can provide best-of-class solutions or referrals to other consultants who can likely help you solve your problems.
I do know the process. I do know what works.
Here you go: you need to 1) define the problems, 2) provide solutions, 3) model accountability. I call this the “3A Coaching process.“
These “A letter” words are Assessments, Constructive Actions, and Accountability. Too many “coaches” stop after providing assessments, or constructive actions, because they do not know how to provide individual or team accountability. That’s about as smart as running 2/3 of a marathon and stopping. Make sure that you hire a coach who will get you past your finish line goals.
You are probably struggling with the following challenges:
people challenges
strategy challenges
execution challenges
cash and financial challenges
Typically, I define the problems using organizational and individual assessments. I determine where you are making money. And where you are losing money.
I may ask the three big questions: 1. can you define the problem? 2. do you need to solve that problem? 3. who can solve that problem? In today’s market, the buyer-seller dance has evolved into a transparent process of answering those 3 questions. Then adopting the best solution. Vendors are secondary.
Then I provide a host of best-in-class solutions for you to sell more to your existing customers. They already know you. They are inclined to purchase more products and services.
Then I model accountability so that you move beyond good intentions. I want you to sell more services.
Ready to talk? Call us soon at 704.995.6647 or contact us here. Once we determine your needs, then we can define a more specific answer to this question. Schedule your initial consultation here.
We all need to sell more to our existing clients.
What are you waiting for?
Download this list of services and investment levels now:
by Doug Gray | Jul 24, 2013 | Business, change, Coaching, Employment, global, Leadership, Managers, Sales, strengths, Success, Uncategorized
I do not know the answer for you. Yet.
I do know the answer for hundreds of other business leaders. Since 1997 I have consulted and coached business leaders in manufacturing, health care, education, HR, safety, technology, finance and accounting. I have guaranteed results for clients ranging from executive teams at F500 companies to small business owners struggling to make ends meet.
I do know the process. I do know what works.
It costs much more money, time, and energy to attract new customers than it does to upsell to existing customers. That is a fact. Expenses vary from 2-7x the cost of upselling an existing customer. Acquisition costs can be reduced when we work together.
You will need to 1) define the problems, 2) provide solutions, 3) model accountability. I call this the 3A Coaching Process.
You are probably struggling with the following challenges:
- people challenges
- strategy challenges
- execution challenges
- cash and financial challenges
Typically, I define the problems using organizational and individual assessments. I determine where you are making money. And where you are losing money. I determine how you need to present solutions to your target markets.
Then I provide a host of best-in-class solutions for you to sell more to your potential new customers. They must learn about you. You must provide tremendous value. (This website is an example.) When your prospects receive tremendous value, then they will be inclined to purchase your products and services.
Then we model accountability so that you move beyond good intentions. We want you to sell more services.
We have hundreds of executive consultants and behavioral coaches, with expertise in sales, so we can help you immediately.
Call Doug Gray, PCC, at 704.995.6647 or contact us to help you sell more of your services to your existing customers. Schedule your initial consultation here.
What are you waiting for?
Download this list of services and investment levels now:
by Doug Gray | Jul 20, 2013 | Business, family, Leadership, Managers, money, Sales, Success, talent
Stuart is an expert sales consultant, recruiter, customer service trainer and technology provider for independent restaurants.
Based near Minneapolis, MN he promotes excellent customer service throughout the world.
Check out this MP3…
Stuart Gray 7.19.13
by Doug Gray | May 13, 2013 | book review, Business, change, Sales, strengths, talent
I’ll give the book 5 stars for the model, and 3 stars on the writing quality. This review will focus on the model behind “The Question.”
The subtitle explains its lofty vision: “Ask it and transform anyone’s future”
This book was referred to me by several clients. They had taken part in the Strategic Coach Program. They wanted to work with me because they needed more customized executive coaching.
Also, I have been solicited by Strategic Coach sale people to attend their program. (I must have attended a webinar.)
Dan Sullivan has coached over 13,000 business leaders and entrepreneurs, over 20 years.
So, what is the one question that 1) warrants a book, 2) warrants so much acclaim?
He starts the book with an anecdote from a business leader who feels: 1) confused, 2) isolated, and 3) powerless. Despite his financial success, he is working long hours. He needs a better system. Like many people, that business owner is seeking how to 1) transform confusion into clarity, 2) isolation into confidence, and 3) powerlessness into capability.
Sound too magical or impossible? Give this review another minute.
Imagine that you respond to that business leader with a question of your own. Your question has two parts. Part one is this:
“If we were having this discussion three years from today, and you were looking back over those three years, what has to have happened in your life, both personally and professionally, for you to feel happy with your progress?”
Sullivan found that 85-90% of these business owners pause, then provide a substantial answer. These are the “users.” These people become your prospects and clients. And you can ask them part two of the question.
5-10% of the business owners are confused. They cannot abstract or imagine the future in this way. These are not your prospects or clients. Thank them and move on.
And less than 5% of the business owners are “refusers.” They are not willing to embrace a relationship. They refuse to answer the question. Therefore they have just saved you tremendous time and energy. Thank them and move on, quickly.
Notice how you are pre-qualifying your prospects? Notice how the question is all about building rapport? Notice how the question is all about the other person– their aspirations and vision?
Humans are aspirational.
Some characteristics of this question include:
1. it is futuristic, and implies a continued relationship with you
2. it is specific to a time period– “in three years”– which most people can envision and describe
3. “looking back” requires synthesizing skills, abstraction, and specific descriptions
4. “for you to feel happy” is subjective, and happiness is the primary motivator for mankind. Through all recorded history.
Now that you have asked that business leader part one of the question, you are ready for part two. Sullivan calls part two the D.O.S., an acronym standing for Dangers, Opportunities and Strengths. You can use simialr words. The point is to use specific words that help others clarify their intentions into actions.
Part two of the question is:
“Specifically, what dangers do you have now that need to be eliminated, what opportunities need to be captured, and what strengths need to be captured?”
This structure invites the other person to articulate specific Dangers/ Opportunities/ Strengths. When I have used this question I ask for permission to record notes. Then I help the other person articulate their top three items. Then I provide those notes as a gift. Or a coaching focus. The results have been astounding.
Now imagine putting part one and part two together…
“If we were having this discussion three years from today, and you were looking back over those three years, what has to have happened in your life, both personally and professionally, for you to feel happy with your progress?”
“Specifically, what dangers do you have now that need to be eliminated, what opportunities need to be captured, and what strengths need to be captured?”
Can you imagine adopting this as a script?
Print this blog article. Forward it to your team. Then adopt this script.
It has helped me. It has helped thousands of entrepreneurs focus on adding value and transforming others.
Yes of course, I can help you implement this model into your business.
Then call me at 704.895.6479. Tell me what you think.
Or add a comment below…
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