Money Lessons with Andrew Temte, PhD, CFA

One of the biggest errors a leader can make is to hire team members who are direct reflections of themselves. Yes, it can be temporarily convenient to surround yourself with people who always agree with you, or who share your own perspectives, but in the long-term, this type of hiring behavior will hinder growth, innovation, and forward momentum. A balancing act all leaders must grapple with is the short-term benefit of moving fast with minimal drag from a personally curated “Team Yes,” versus the long-term satisfaction that comes from building a diverse team that will simultaneously challenge, support, and push the boundaries of your current state positions and thinking.

https://www.andrewtemte.com/

Are you feeling disengaged or ‘stuck’ at work? Does it feel like you’re trudging through mud and that the light in your eyes has dimmed? From my own personal experience, it can be very difficult to pinpoint the root cause of these feelings and it’s even harder to break through to an improved state of well-being and engagement. Today, I’d like to share a tip that’s worked well for me when I find myself feeling negative, harried, and strained.

https://www.andrewtemte.com/

Far too often, when confronted with a challenge, we talk. We talk to deflect. We talk because we don’t know what else to do. We talk to release nervous energy. To make matters worse, when we start talking, we usually start relaying a story of a similar challenge that’s happened to us. The individual who’s going through the challenge doesn’t want to hear about our suffering or similar situation, they want to be heard.

https://www.andrewtemte.com/

There are many truisms in business, and one that doesn’t get nearly enough attention is that as a leader rises through the ranks of an organization, the amount they are discussed, analyzed, and talked about increases in a non-linear fashion. I would periodically get asked if this bothered me during my career, and I would typically respond with a flippant: “My ears stopped buzzing long ago.” Meaning that it no longer bothered me. While marginally humorous in the moment, as I look back, my response was less than helpful and certainly didn’t reach the mark of a teaching moment.

https://www.andrewtemte.com/

Earlier this summer, I was in unavoidable earshot of a conversation between two acquaintances regarding team performance—specifically about an operational failure that had occurred in their business. They were lamenting about one of their co-workers, and the implication was that the co-worker was to blame. As a reminder, if I’m pointing a finger at someone else, three more are pointing right back at me.

https://www.andrewtemte.com/

Resilience is defined as “the capacity to withstand or to recover quickly from difficulties” (Oxford Dictionaries). The American Psychological Association defines resilience as “the process and outcome of successfully adapting to difficult or challenging life experiences.” In most definitions of resiliency, adversity, shock, and/or change occurs that an individual or system must adapt to. Individuals or systems that are resilient are able to absorb and adapt to said adversity, shock, or change more efficiently than their peers.

https://www.andrewtemte.com/

Embrace the power of music. There’s an old saying that my father often repeats: “Keep a smile on your face and a song in your heart.” In this forum, I talk a lot about developing an agile, growth mindset and nurturing a strong portfolio of emotional intelligence tools. Embracing this old saying is one of many methods I’ve used through the years to keep my head screwed on straight and avoid the slide into a fixed mindset when the going gets tough. Yes, listening to your favorite music by yourself can be cathartic and healing, but periodically doing so in the company of an audience can be exponentially more powerful.

https://www.andrewtemte.com/

On The Balancing Act Podcast, I routinely ask my guests for the advice they would give our listeners on how to optimize the balancing act between technical skill and human (a.k.a. soft) skill in the world of work. The answers to this question vary widely, but most answers share a common thread of building the skills of communication, active listening, presence, situational awareness, self awareness, and empathy/compassion. These are all the greatest hits of a solid emotional intelligence toolkit.

https://www.andrewtemte.com/

The popular press is filled with “how to” guides on personal and professional fulfillment as well as tons of click bait on fad diets, how to get in shape, and develop washboard abs. Yes, it can be fun to vicariously live through others and dream of personal transformation, but those same dreams can be soul-crushing when we slide back into old habits and self-destructive behaviors and patterns that hold us back from making real progress.

https://www.andrewtemte.com/

“There are no failures in life, only learning opportunities.” “It’s only a failure if you don’t learn from it.” Phrases like this are designed to promote a lifelong learning mindset, but it can be incredibly difficult to separate the feelings of failure after something goes wrong from the need to learn from a failure, grow, and move on. I know from personal experience that I can get really stuck when I haven’t lived up to expectations, have failed to deliver on a commitment, or have had a project go completely sideways. It’s almost always these feelings of being a failure that lead me to spin unconstructively.

https://www.andrewtemte.com/