AUSTIN, Texas–An ex-Marine offers some insights on leadership, including how to really tell if a company is truly innovative and disruptive, and not just good at talking about it.
Tim Smith is CRO with FirstClose, which offers a software platform designed to deliver lenders end-to-end solutions from loan application to closing and, when used in its entirety, completely eliminates the need for duplicate data entry.
Below, Smith shares his thoughts on leadership and management in CUToday.info’s The Corner.
CUToday.info: What intangible of leadership is most difficult to convey or prepare for?
Smith: Unfortunately, there is no college curriculum or MBA program that can prepare you for certain events. Throughout my career, I have learned that the unknowns and pitfalls associated with unforeseen events can cause a leader to go in one of two directions. The choice is simple when faced with adversity: an individual can either choose to run or address the problem(s) head on. As a former U.S. Marine, running simply isn’t an option in my world. No matter how frightening or daunting a situation may appear, the only way I know how to successfully confront an obstacle is to attack it head on. Additionally, regardless of the situation, reflecting a positive attitude and confidence is critical to your organization and your perception as a strong leader.
CUToday.info: Are you a fan of a management book or books? If not, why not. If so, which have resonated with you and why?
Smith: Traction by Gino Wickman. Our company implemented Traction in 2016 and it has streamlined our processes and created accountability that has transformed our organization into a scalable business.
CUToday.info: Innovation: four syllables getting all the attention. Deservedly so? If so, can you really drive innovation? Or is it coming at the cost of implementation and delivery?
Smith: I hear the terms “innovation” and “disruption” on a regular basis and only a handful of companies have been able to achieve true innovation and disruption. The terms have almost become cliché. I hear executives throw these terms around loosely hoping to attract new customers and investors. If you’re an innovative company that’s causing disruption, the marketplace will be aware of it. If you have to tell me that you’re innovative and disruptive, then you’re probably not on the path that you’re attempting to portray. The marketplace rewards talent through innovation and this is a term that should not be taken lightly. If a company truly has an innovative solution, this is only the first step to monetizing your efforts. The ability to implement, deliver and scale are equally as important as your innovative solution. Just because you’re innovative does not mean you can deliver a world-class product to the marketplace.
CUToday.info: If you could go back and talk to You On The First Day On The Job, what advice do you share?
Smith: My first day on the job is a bit different than most so my recommendation to myself is a bit unorthodox. My first day I was part of a start-up organization with zero revenue and zero investors, which equated to zero pay until I generated income for myself. This took some time and it was a grueling effort without much reward. I found I was easily getting down on myself, but over time, I realized that remaining positive was the only way I was going to succeed. Even though I wasn’t getting paid initially, I had to remain positive to see the fruits of my labors come to fruition. I think the same can be said for anyone. A positive mental attitude will get your far in life.
CUToday.info: My Keeps-Me-Up-At-Night concern is? Why? And My-Let’s-Me-Sleep-At-Night optimism is?
Smith: My primary keep-me-up-at-night concern revolves around our ability to exceed customer expectations. We can have all of the groundbreaking innovation in the world, but if we aren’t exceeding customer expectations, then we aren’t performing up to my personal standards. My-let’s-me-sleep-at-night optimism is the comfort I have knowing that we have world-class employees that can handle anything that’s thrown at them. Without great employees, a company is bound for mediocrity at best. You may pay more for great employees, but it’s worth the added investment knowing that your company is the hands of quality people that your customers will appreciate.