LEADERSHIP: THE MIDAS TOUCH

Published: 2007-04-10   please add a comment below

The legendary King Midas had a special gift.  Everything he touched turned to gold.  Sounds great, but it wasn’t good for his diet - and he died.  However today, having the "Midas touch" means the ability to make money.  And, many business leaders have this special skill.  They smell what's profitable and what's not.

For the rest of us, there's always analysis.  Working through the numbers to find opportunities or solve problems.  This may not have the same magic, but so long as you get there.  And, it's real gold, if you find and fix commercial problems.

Think of your own business!  Are there areas, which grow well but somehow fail to show a profit?  Or projects, which have been swallowing investment for years, but never seem to get there?  Or product lines, which continually have problems and consume endless management time?  All these drain your resources and profits.  The effective leader has to be able to identify and deal with them.  And, quickly.

Having watched many successful leaders, the following are some of the things I've noticed they do.  Analyse situations from a range of perspectives - not jumping to conclusions.  Investing time and effort in identifying a range of options.  After careful thought, selecting one and then resourcing it adequately.  Finally, monitoring progress, evaluating outcomes and adjusting, as necessary.

It all sounds pretty tedious, and having the Midas touch would be much quicker.  But, being methodical works.  And, you can teach others.  Leadership is about more than magic.

So, try something practical!

Dr. Timothy Pascoe AM
PhD (Cambridge), MBA (Harvard), BE & BEc (Adelaide)
Creator, V|E|C|T|O|R Leadership^®