In a recent post over at Inc.com, myFinancialAnswers CEO Ben Pitts gave his thoughts on business management lessons that he’d taken away from his military background. Here are Ben’s thoughts, as relayed by the author (and co-founder of communications/PR firm Peppercomm), Steve Cody:
7. Lead by example. During my time at West Point, the phrase “lead by example” was drilled into me. One upper class cadet would drop and do push-ups right alongside a Plebe who was being punished. While I don’t do push-ups at work, I do roll up my sleeves and set an example when resources are scarce.
8. Expectancy theory (aka ET). Expectancy theory calls for an individual to take actions to achieve results to the extent he has the ability to perform and the goals are attainable. I’ve factored ET into every assignment I’ve undertaken. We must feel we possess the necessary skills and the goals are realistic before we engage.
Ben’s lessons aren’t necessarily limited to the boardroom or office—as financial advisors, we use similar concepts when helping individuals to make good financial decisions, throughout the financial planning process. The more confidence you have in your ability to make good financial decisions, the more likely you are to actually achieve your long-term financial goals. Using software like ours at myFinancialAnswers can be an important first step toward building that necessary confidence.
To read more business lessons from the battlefield, feel free to click on over to the article at Inc.com. And if you’re interested in learning more about Expectancy Theory, here is a pretty good primer on the subject.
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