Due to a chan
ge in hosts, I’m reposting some blog entries lost in transition, this is one.
I’ve worked at 8 different IT companies in my career and have seen many people in management roles. I’ll draw upon my career and the colorful stories for this discussion.
Managing Executives is a very sensitive issue. This process is critical to the relationship and results with Analysts. Much of the time this is unseen externally, but the machinations exist under the covers for us to get to the discussion in an orderly manner.
Executives have many demands on their time and are pounded or pulled at from every angle. They might have come from a great meeting or one that they got machined gunned to death right before the analyst briefing. Different people handle stress in different ways.
A common thread I’ve noticed is how much ego they bring, and how much control they have over it. Either way, the executive is the messenger and the content owner. It is our job to make sure they are best prepared, deal with the issues, understand the big picture and be as professional as possible to achieve results. In some ways, we have to pull the strings and push the buttons behind the curtain to make successful analyst engagements happen.
As with the movie, I’ll take it in order.
THE GOOD
There are some executives that intrinsically get that analysts are deep thinkers, they have influence over customers, press and our reputation.
The really, really good ones know that the analyst can provide great input into the strategy and can point out any holes or landmines in our strategy.
The really, really, really good ones understand that it is about creating a relationship and that no matter how much influence they have at IBM, they can put that aside and get the message out and deliver value to an analyst discussion.
One key is they can manage their ego’s and those of the analyst (not the point of this post, but it is related throughout). The executive I’ve linked above always comes off as you’re smarter than I am, although it’s rarely true. He also accepts that criticism is part of the deal and doesn’t take it personally. I’m not sure if it was his basic nature or that he came from sales (I attribute a big piece to the fact that he’s from the south and is more polite than most) but no matter what the case, his briefings always were a home run.
These executives are of course the best to deal with. Some have higher maintenance levels than others, but when you know your big gun is going to deliver, you want to make sure his gun is as loaded as possible with bullets.
There are always disagreements over issues, but when an executive can put their ego aside and listen to input, everyone wins. These people are very perspicacious.
THE BAD
Everyone has a bad day. That can precipitate in a less than optimal discourse. I’ve worked with some who just weren’t as good as others at dealing with analysts, although practice usually improved things. Some executives just shouldn’t be doing briefings as it isn’t their strength.
As described in the GOOD section, I’ve seen good executives come off distracted as they just got chewed out, or a multi-million dollar contract is about to be lost….it happens.
Some need more coaching and preparation than others, that’s our responsibility in A/R. I’ll discuss this in the Executive Preparation post, yet to come.
There are some that are not cut out for analysts briefings. They should not be put in this situation. There is always someone else on the team who is the one really best suited for dealing with the analysts. They may not be as good with a P&L, but they get the strategy and the relationship issues. I use them as much as possible as it produces results on both the analyst and the company side.
Some just don’t get give and take. I don’t put them in the ugly as they just won’t budge on the fact that their solution is what it’s going to be, but many times they can be right. It is better for the company for them to make the tough choices and stick with our side of the argument. It rarely makes for a successful analyst engagement, but I defer when history shows that they didn’t take the analyst advice and the company or division benefits. Again, this a time where a lieutenant is best for dealing with the analysts.
I’ll bring up human nature here as I’ve been in a situation where an executive who is generally great at working with analysts has a beef with an person for some reason. In one case, both the analyst and the executive described the other person in to me terms of an orifice. Sometimes you just have to separate people and agree to disagree. This situation is a challenge in A/R.
Some of the bad are nitpickers. The get caught up in details that are not relevant to the big picture. They are a distraction and a lieutenant is again best.
Another category that could be BAD or could be UGLY are the quick triggers. They fire off a response without considering the consequences. The reason I put it into BAD instead of UGLY is you never know how it’s going to turn out. It usually depends on the analyst’s response. Either way it is high maintenance.
The last of the bad is the death by powerpoint crowd. They drone on and on and on and on without letting the analyst get a word in (when don’t analysts like to offer an opinion?) and everyone dreads these meetings. Their objective is to get through the slide deck come hell or high water.
THE UGLY
These are the worst experiences of anyone’s communications career. They also regularly put the company behind the curve with the relationship with the analyst. I have only experienced this a couple of times, but they are burned into my memory as times I don’t want to relive. Fortunately, I don’t work for or with any of these people anymore.
It almost every instance, it is fueled by the over estimation by the executives of the importance of themselves. These people also come in various flavors.
The Ugly Flavors
The Suits – These are people who have made it through the system via the Peter Principle. They pontificate, but aren’t well respected by anyone on either side and as with everyone in this category, are difficult to work with. They are found out quickly by the analyst and it hurts the cause to come to the table with them. As an example, in one company I was at one onsite briefing and the first thing the Suit did was call his assistant to see if he could change is flight out so he could be home early and asked me to cut the meeting short.
Another Suit (J.C. but now retired) incident came up when I had landed one of the highest level briefings of my career at that point. I had to pull the speaker (lieutenant) from the Suit’s “staff” meeting. The lieutenant was the best speaker I may have worked with and the Suit was one of the worst. Said Suit wouldn’t let the speaker go to the briefing threatening him with “it’s only your job if you leave”, or I’m more important than anyone else. Faux Pas Supremo.
A different flavor suit flavor is described by Lou Gerstner in his book “Who Says Elephants Can’t Dance?” He describes an executive who wrote memo’s on how to deal with him including what type of gum to have and how to set the clocks (pg. 32). These are unusually high maintenance people who want celebrity treatment. There is a good song about this syndrome, watch the video here. Adios reality.
The Terrorists
These people give me nightmares. Almost everyone has worked with or heard about these tyrants. Nothing you can do is right, nothing is good enough and the analyst is wrong because they are right. This is different than the BAD situation from above. The BAD executive there is making a tough choice not to go with the analyst view, but it is well informed choice. The terrorist doesn’t really care about outcomes, rather it’s about what they want and their career, power and usually their insecurity. Every company has one and the IBM terrorist has many dead bodies behind her quest to climb the ladder. We in communications had a support group for those who survived a term working for her and kept their job.
Said executive used to bring us through about 50 revisions of powerpoint charts. Many were bad but were done precisely as she had demanded. We were later castigated by this basilisk with “why did you do this? I didn’t ask for this”. The terrorist may or may not fight with analysts, I’ve dealt with both. But to sweat through every meeting prior to and with an analyst is counter productive and has never lead to the results that could be achieved.
I’ve noticed that the terrorist is found out by analysts by many means. Sometimes it is inconsistency in charts, sometimes it is through unusual calls and/or requests by A/R, many times it is through colleagues and sometimes it is through working with them enough.
Terrorist’s can come with unrealistic expectations. I to this day am not sure how to handle them. In both cases, I chose to move on and out as quickly as I could. Others have handled it better than I.
SUMMARY
To be effective with analysts, you must be able to manage the executives. With executives come many styles. It is imperative that you learn the style and manage it for effectiveness.
Since people are different, one must adapt to each person. Just hope you get the good, deal with the bad and escape the ugly.
Here is a quote that sums it up for me: “He is simply a shiver looking for a spine to run up.” – Paul Keating
Update: SageCircle links here with a good post on improving executives.
For you clint fans and movie buffs, here is the song and movie opening video.
Question this number at your peril
A simplified map of the spreadsheets involved in an analysis
