Nice Companies Finish First: Why Cutthroat Management is Over—and Why Collaboration is In
Peter Shankman with Karen Kelly
This book really focused on why treating employees and those involved in your business with respect and kindness leads to more success, and a better working environment; it especially focuses on the nine traits that make a successful, kind leader. These traits are: enlightened self-interest, the accessibility factor, strategic listening, good stewardship, 360 loyalty, glass-half-full point of view, customer service-centric, merit-based competitor, and gives a damn. In the section for each different trait, Shankman and Kelly give a list of what makes a leader have that certain trait, as well as a list of actual ways to being acting that trait out in a leadership setting.
Trait #1: Enlightened Self-Interest
One tip given is that, quite simply, if a transaction isn’t going to benefit the business and its clients/employees in the long haul, then just simply don’t do it.
Good leaders practice enlightened self-interest, and in order to do this they must have some basic characteristics:
See business as a series of positive transactions that have benefits for both sides
Weigh the benefits for each side to make sure everyone is getting “market share”, and is aware of it
Understand what decisions will be beneficial all the way around
Engender loyalty and get employees on their side through respect and listening, not fear or coercion
Seek counsel when making decisions
Consider potential outcomes and consequences before acting
Be aware that any negative or damaging action they take in the “heat of the moment” can be leaked to the world, which negatively adds to the situation
Cultivate authenticity
Take proper care of their well-being and maintain a balance in their lives
Expect excellence from employees and give support so it can be achieved
Promote, support and reward great employees
Expect honesty and practice it
Trait #2: The Accessibility Factor
Successfully creating a feeling of accessibility has four major characteristics: show commonsense respect and openness for and with colleagues, direct reports, and rank-and-file workers—no matter how distant they are on the company flow chart; create an environment that makes for easy cross-pollination between people, no matter what department or rank they hail from; establish a feeling of workplace equality, where everyone’s job is valued as prestigious and important to the bottom line; and share as much information with as many people in the company as possible as a sign of respect, inclusion, and transparency.
An accessible leader:
Engenders an attitude of mutual respect and kindness
Makes sure there are connections between junior and senior people on an ongoing basis
Is sensibly available to all constituents
Conveys an attitude of approachability
Ensures that everyone understands core values, mission, and expectations
Plays fair with information, bonuses, expectations, and workloads
Walks the shop (or office) floor and is visible
Doesn’t hide away, talks openly
Knows when to keep their mouth shut and let others do the talking
Communicates simply, honestly, and in plain English—on a consistent basis, whether it is daily, weekly or monthly—in a verbal or written format
Builds a culture of collaboration as part of the management strategy, because learning together helps people work better together
Trait #3: Strategic Listening
There are many benefits for leaders who listen strategically; leaders who practice strategic listening:
Make sure they understand what someone is saying, instead of simply taking in the words and forgetting them later
Act on what they see and hear in the marketplace, because listening is useless without action
Understand the deeper meaning of what clients say to get to the root of what they want
Trait #4: Good Stewardship
When thinking about stewardship, it is important to consider some of the following points:
Put your social radar up; keep ahead of subtle changes in thinking and consumer behavior that will impact your business
Show your stewardship authentically, by working on programs that you actually care about, have a logical connection to your business, and are the acknowledged best practices of your industry
Involve the community by sharing information about what you are doing, as well as listening to customer reactions and needs
Good stewards:
Are first and foremost good neighbors, because it all starts where you live
Choose stewardship that fits with and reflects well on their business
Keep track of trends so they can get in front of them, not follow behind
Constantly seek to improve upon their stewardship efforts
Understand that investment in stewardship is an investment in their reputation and longevity
Trait #5: 360 Loyalty
When thinking about loyalty, it is important to consider a few different ideas.
Give employees opportunities and tools to master their jobs and use their talents and knowledge for mutual benefits
Respect good employees’ work and show your loyalty to them with policies and rewards that reflect your understanding of their contributions to the business
Show all employees that supporting the business’s mission by doing a good job and mastering skills grows sales and creates a richer, more beneficial experience for them
Encourage criticism of the “way we’ve always done it” as a check against hanging on to policies, procedures, and philosophies that no longer serve the company’s bottom line and market
Publicize mistakes, including your own, and what lessons were learned from them
Identify those workers who may not be carrying their weight; intervene, but if it doesn’t help, cut your losses for everyone’s sake
360 Loyalty allows for and encourages professional growth of employees; provides flexibility for motivated, productive workers; lets employees fail and ensures that everyone learns the lessons within the failure; does not allow the business to be bogged down by bad ideas or underperforming employees; and makes decisions based on the philosophy that is it’s good for business, it’s good for everyone.
Trait #6: Glass-Half-Full POV
While optimism is generally seen as a good trait, it is possible to have too much optimism. While most times being optimistic will likely result in a more positive, enjoyable work environment, it is important to keep in mind that sometimes excessive optimism can lead to stupid management missteps because it can blind you to obstacles and lead you to take unwise risks. Usually, being optimistic has no negative effects but it is an important thought to keep in mind.
A glass-half-full leader:
Is enthusiastic about the possibilities, but not blind to the problems
Is action-oriented
Takes time to consider all options and potential results before making a final decision
Makes timely decisions and doesn’t dither
Takes actions that are consistent with business priorities and profits
Can articulate logically why decisions are being made
Is balanced in his or her view of work and life
Characteristics of a glass-half-full leader are that they:
Display courage in the face of adversity
See the difference between “Everything’s ok!” and “Everything will be okay if we do the following things”
Stay inventive and values innovation during tough times
Don’t take bad news personally
Don’t place blame on others
Rewards transparency and collaboration
Trait #7: Customer Service-centric
A customer service-centric leader
Practices what they preach
Gives their team permission to solve customer service problems
Makes transactions simple; you should not make customers work to give you their money
Knows their audience
Delivers on promises every time, early whenever possible and on time when it’s not
Is unexpected, and happily memorable
Gives customers the tools to tell their story
A customer service-centric leader:
Knows that a focus on service builds revenue
Puts a premium on what customers say and do
Has a structure or framework in place to quickly meet customer demands
Works on continual improvement so service problems don’t reoccur
Changes what’s not working without looking back
Makes it easy for people to become and stay customers in every way possible
Trait #8: Merit-Based Competitor
Leaders who compete and excel on merits:
Identify those strengths that customers respond to by keeping track of and examining data and behavior
Continually improve on strengths by developing related assets, attributes and skills
Don’t seek to destroy competitors but instead find and serve opportunities they miss, ignore, neglect, or simply aren’t interested in (what’s unprofitable for one business might be profitable for yours)
Remember that assumptions aren’t facts—look at what is actually happening in your business and in the culture to glean insights into where and how you can compare
Leaders who compete on merits:
Observe the marketplace and examine data for competitive insights
Provide customers or clients with new reasons to return
Customize what they do or how they do it to make the customer experience memorable and personal
Find new, fun ways to make change work
Grow by meeting needs of new or unserved markets
Build loyalty through unique characteristic that create value; what makes you, you is a competitive advantage
Trait #9: Gives a Damn
Giving a damn means:
Doing what you know is right, even if it means scrapping a costly project or turning down a lucrative-sounding deal
Listening to bad news and weighing its ramifications honestly
Understanding that your company isn’t an isolated organization, but part of a community (and behaving accordingly)
Engendering the spirit of giving a damn among all employees
Give-a-damn leaders:
Do what’s right, even if it’s not always obviously profitable; ask for, expect, and consider the opinions of stakeholders and experts; accept ultimate responsibility for the global impact of decisions made at every level of the company; and create avenues for employees and stakeholders to share concerns without fear of reprisal.
Shankman and Kelly also give a few more basic rules to help be a successful, kind leader.
Exceed relatively low expectations: Setting the bar high and exceeding it is rewarding, but it is also important to focus on building your reputation piece by piece. Start off low and grow quickly.
Do “Unexpected follow-up” daily: If you get a lot of business cards, keep them all in one place and each day choose a few out of the stack or pile to send a quick e-mail asking how they are and what projects they are working on. This will keep your name fresh in their mind, and will bring them closer to “client” or “network member” than just someone you met one time and never spoke to again.
Find out what people are doing: Keep Google alerts on a handful of people; if someone gets promoted, send them cookies, if someone is quoted, send them a quick congratulatory email, etc. These are relatively inexpensive things that will keep you well above other mediocre companies and leaders, because no one else does it.
Pay attention: Conversation takes actual work. Listen to what people say, and even take notes about some of their key points so you actually remember what they said.
Separate yourself from the pack: Be the person who makes introductions, use the good manners that you learned as a child, do anything you can to set yourself apart from others (in a positive way!).
Keep a mirror-image bag at your office: a mirror-image bag has enough necessities to get you through 48 hours of extended away time. You want to be the person most put-together in a situation where no one expects to have to be put together.
Just be nice: A smile goes a long way towards proving you’re not full of shit.
Shankman, Peter. Nice Companies Finish First: Why Cutthroat Management Is Over--and Collaboration Is in. New York: Palgrave Macmillan, 2013. Print.
Trait #1: Enlightened Self-Interest
One tip given is that, quite simply, if a transaction isn’t going to benefit the business and its clients/employees in the long haul, then just simply don’t do it.
Good leaders practice enlightened self-interest, and in order to do this they must have some basic characteristics:
See business as a series of positive transactions that have benefits for both sides
Weigh the benefits for each side to make sure everyone is getting “market share”, and is aware of it
Understand what decisions will be beneficial all the way around
Engender loyalty and get employees on their side through respect and listening, not fear or coercion
Seek counsel when making decisions
Consider potential outcomes and consequences before acting
Be aware that any negative or damaging action they take in the “heat of the moment” can be leaked to the world, which negatively adds to the situation
Cultivate authenticity
Take proper care of their well-being and maintain a balance in their lives
Expect excellence from employees and give support so it can be achieved
Promote, support and reward great employees
Expect honesty and practice it
Trait #2: The Accessibility Factor
Successfully creating a feeling of accessibility has four major characteristics: show commonsense respect and openness for and with colleagues, direct reports, and rank-and-file workers—no matter how distant they are on the company flow chart; create an environment that makes for easy cross-pollination between people, no matter what department or rank they hail from; establish a feeling of workplace equality, where everyone’s job is valued as prestigious and important to the bottom line; and share as much information with as many people in the company as possible as a sign of respect, inclusion, and transparency.
An accessible leader:
Engenders an attitude of mutual respect and kindness
Makes sure there are connections between junior and senior people on an ongoing basis
Is sensibly available to all constituents
Conveys an attitude of approachability
Ensures that everyone understands core values, mission, and expectations
Plays fair with information, bonuses, expectations, and workloads
Walks the shop (or office) floor and is visible
Doesn’t hide away, talks openly
Knows when to keep their mouth shut and let others do the talking
Communicates simply, honestly, and in plain English—on a consistent basis, whether it is daily, weekly or monthly—in a verbal or written format
Builds a culture of collaboration as part of the management strategy, because learning together helps people work better together
Trait #3: Strategic Listening
There are many benefits for leaders who listen strategically; leaders who practice strategic listening:
Make sure they understand what someone is saying, instead of simply taking in the words and forgetting them later
Act on what they see and hear in the marketplace, because listening is useless without action
Understand the deeper meaning of what clients say to get to the root of what they want
Trait #4: Good Stewardship
When thinking about stewardship, it is important to consider some of the following points:
Put your social radar up; keep ahead of subtle changes in thinking and consumer behavior that will impact your business
Show your stewardship authentically, by working on programs that you actually care about, have a logical connection to your business, and are the acknowledged best practices of your industry
Involve the community by sharing information about what you are doing, as well as listening to customer reactions and needs
Good stewards:
Are first and foremost good neighbors, because it all starts where you live
Choose stewardship that fits with and reflects well on their business
Keep track of trends so they can get in front of them, not follow behind
Constantly seek to improve upon their stewardship efforts
Understand that investment in stewardship is an investment in their reputation and longevity
Trait #5: 360 Loyalty
When thinking about loyalty, it is important to consider a few different ideas.
Give employees opportunities and tools to master their jobs and use their talents and knowledge for mutual benefits
Respect good employees’ work and show your loyalty to them with policies and rewards that reflect your understanding of their contributions to the business
Show all employees that supporting the business’s mission by doing a good job and mastering skills grows sales and creates a richer, more beneficial experience for them
Encourage criticism of the “way we’ve always done it” as a check against hanging on to policies, procedures, and philosophies that no longer serve the company’s bottom line and market
Publicize mistakes, including your own, and what lessons were learned from them
Identify those workers who may not be carrying their weight; intervene, but if it doesn’t help, cut your losses for everyone’s sake
360 Loyalty allows for and encourages professional growth of employees; provides flexibility for motivated, productive workers; lets employees fail and ensures that everyone learns the lessons within the failure; does not allow the business to be bogged down by bad ideas or underperforming employees; and makes decisions based on the philosophy that is it’s good for business, it’s good for everyone.
Trait #6: Glass-Half-Full POV
While optimism is generally seen as a good trait, it is possible to have too much optimism. While most times being optimistic will likely result in a more positive, enjoyable work environment, it is important to keep in mind that sometimes excessive optimism can lead to stupid management missteps because it can blind you to obstacles and lead you to take unwise risks. Usually, being optimistic has no negative effects but it is an important thought to keep in mind.
A glass-half-full leader:
Is enthusiastic about the possibilities, but not blind to the problems
Is action-oriented
Takes time to consider all options and potential results before making a final decision
Makes timely decisions and doesn’t dither
Takes actions that are consistent with business priorities and profits
Can articulate logically why decisions are being made
Is balanced in his or her view of work and life
Characteristics of a glass-half-full leader are that they:
Display courage in the face of adversity
See the difference between “Everything’s ok!” and “Everything will be okay if we do the following things”
Stay inventive and values innovation during tough times
Don’t take bad news personally
Don’t place blame on others
Rewards transparency and collaboration
Trait #7: Customer Service-centric
A customer service-centric leader
Practices what they preach
Gives their team permission to solve customer service problems
Makes transactions simple; you should not make customers work to give you their money
Knows their audience
Delivers on promises every time, early whenever possible and on time when it’s not
Is unexpected, and happily memorable
Gives customers the tools to tell their story
A customer service-centric leader:
Knows that a focus on service builds revenue
Puts a premium on what customers say and do
Has a structure or framework in place to quickly meet customer demands
Works on continual improvement so service problems don’t reoccur
Changes what’s not working without looking back
Makes it easy for people to become and stay customers in every way possible
Trait #8: Merit-Based Competitor
Leaders who compete and excel on merits:
Identify those strengths that customers respond to by keeping track of and examining data and behavior
Continually improve on strengths by developing related assets, attributes and skills
Don’t seek to destroy competitors but instead find and serve opportunities they miss, ignore, neglect, or simply aren’t interested in (what’s unprofitable for one business might be profitable for yours)
Remember that assumptions aren’t facts—look at what is actually happening in your business and in the culture to glean insights into where and how you can compare
Leaders who compete on merits:
Observe the marketplace and examine data for competitive insights
Provide customers or clients with new reasons to return
Customize what they do or how they do it to make the customer experience memorable and personal
Find new, fun ways to make change work
Grow by meeting needs of new or unserved markets
Build loyalty through unique characteristic that create value; what makes you, you is a competitive advantage
Trait #9: Gives a Damn
Giving a damn means:
Doing what you know is right, even if it means scrapping a costly project or turning down a lucrative-sounding deal
Listening to bad news and weighing its ramifications honestly
Understanding that your company isn’t an isolated organization, but part of a community (and behaving accordingly)
Engendering the spirit of giving a damn among all employees
Give-a-damn leaders:
Do what’s right, even if it’s not always obviously profitable; ask for, expect, and consider the opinions of stakeholders and experts; accept ultimate responsibility for the global impact of decisions made at every level of the company; and create avenues for employees and stakeholders to share concerns without fear of reprisal.
Shankman and Kelly also give a few more basic rules to help be a successful, kind leader.
Exceed relatively low expectations: Setting the bar high and exceeding it is rewarding, but it is also important to focus on building your reputation piece by piece. Start off low and grow quickly.
Do “Unexpected follow-up” daily: If you get a lot of business cards, keep them all in one place and each day choose a few out of the stack or pile to send a quick e-mail asking how they are and what projects they are working on. This will keep your name fresh in their mind, and will bring them closer to “client” or “network member” than just someone you met one time and never spoke to again.
Find out what people are doing: Keep Google alerts on a handful of people; if someone gets promoted, send them cookies, if someone is quoted, send them a quick congratulatory email, etc. These are relatively inexpensive things that will keep you well above other mediocre companies and leaders, because no one else does it.
Pay attention: Conversation takes actual work. Listen to what people say, and even take notes about some of their key points so you actually remember what they said.
Separate yourself from the pack: Be the person who makes introductions, use the good manners that you learned as a child, do anything you can to set yourself apart from others (in a positive way!).
Keep a mirror-image bag at your office: a mirror-image bag has enough necessities to get you through 48 hours of extended away time. You want to be the person most put-together in a situation where no one expects to have to be put together.
Just be nice: A smile goes a long way towards proving you’re not full of shit.
Shankman, Peter. Nice Companies Finish First: Why Cutthroat Management Is Over--and Collaboration Is in. New York: Palgrave Macmillan, 2013. Print.