Hi. Welcome to the latest edition of LeaderCoacha. Take 5 minutes to read how you can be an even better leader.

In today’s edition:

• Seek disconfirming evidence

• The power of saying ‘we’

• Create the ripple for change

• Thinking in Bets by Annie Duke

• 5 ways to overcome imposter syndrome

RATIONAL INTELLIGENCE

Seek disconfirming evidence

Confirmation bias is where we over value information that confirms our beliefs and under value information that does not. This bias is a cognitive shortcut. It saves time when we need to make quick decisions. But as Kyle Hill said, ‘confirmation bias settles over our eyes like distorting spectacles for everything we look at.’ This bias limits our ability to evaluate new opportunities and threats.

One way to help defeat confirmation bias is to seek disconfirming evidence. We can engage the opinions of external experts. We can promote a team culture of challenging ideas and performing pre-mortems. It’s useful to appoint devil’s advocates to argue contrary positions. The proponent of an idea may be asked to also argue its ‘no’ case. Charlie Munger said, ‘I never allow myself to hold an opinion on anything that I don't know the other side's argument better than they do.’

EMOTIONAL INTELLIGENCE

The power of saying ‘we’

Leaders who say ‘we’ show they are outward looking and oriented to others. This projects confidence. Leaders build trust when they acknowledge the collective endeavour of their team. Saying ‘we achieved’ is motivating. Success is shared. And the team’s belief increases that more will be built together in the future.

Leaders need to avoid a culture of blaming team members. This, however, can be done without a leader assuming sole responsibility for the collective failures or setbacks of the team. High performing teams welcome individual accountability. It’s appropriate for each team member - especially leaders - to share what they want to do better. This is empowering. And enables a leader to constructively acknowledge on behalf of the team, ‘we didn’t deliver’ or ‘this is how we will do better.’

SOCIAL INTELLIGENCE

Create the ripple for change

The words and actions of leaders ripple across their organization. When you want to execute significant change, you need to champion it. You need to participate in it. And keep giving it energy when other demands compete for your time. This sends a message to your colleagues that the change is a genuine priority.

REVIEW

Thinking in Bets by Annie Duke

Dr Annie Duke is a venture capitalist, cognitive scientist, and former poker champion. Her 2018 book, Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts, is a guide to better decision-making in uncertain situations. Here’s a summary for leaders:

6 Lessons for Leaders:

1. Life is poker, not chess. Decisions are rarely black and white. The best leaders make choices based on probabilities, not guaranteed outcomes. Luck matters.

2. Form a truth-seeking team. Surround yourself with people who challenge your thinking and promote objective analysis rather than seeking consensus. This avoids groupthink.

3. Plan for success and failure. Envision success and create a plan to achieve it. Pre-mortems assist us to consider potential obstacles and how to overcome them.

4. Treat decisions like bets. It’s easier to adjust our bets than our beliefs. Stay adaptable and adjust your bets as new facts and disconfirming evidence emerges.

5. Separate decisions from outcomes. A good decision can lead to a bad outcome and vice versa. Leaders should evaluate decisions on their process, not just results.

6. Learn and apply. What lessons emerge from the decision and the outcome? Post-mortems help refine our future decisions.

COACHING COUCH

5 ways to overcome imposter syndrome

Leaders who experience imposter syndrome doubt their current ability as a leader. At it’s worst, we can feel like a fraud. We may fear being exposed as having inadequate skills, intelligence, or experience to deliver what is expected of us. Our negative self-talk lowers our confidence and mood.

Most of the CEOs I have coached in the past twenty years have disclosed a version of imposter syndrome. It’s a common experience for capable and normally confident people. The silver lining to imposter syndrome is when it fuels conscientiousness and tenacity. However, we don’t want to experience it for long. Here are 5 ways I have seen coachees overcome imposter syndrome:

1. Know you’re watching others’ highlight reels

We know our insecurities. We don’t know all the insecurities of others - we watch the highlight reels they have curated for the world. The comparison isn’t fair.

2. Write your successes

List your work accomplishments. List your personal virtues. We bolster our self-efficacy — belief in our effectiveness — when we reflect on our track record and character.

3. Seek disconfirming evidence of your fears

Look for signs you’re competent. What’s working? What value are you contributing? Seek feedback. Work on the developmental feedback and savour the positive feedback.

4. Disrupt your negative self-talk

Replace your negative self-talk with positive self talk. I am enough or I add value or I will persist. Choose words that resonate with you. Say something positive to yourself before every meeting.

5. Believe this will pass

You have overcome insecurities and fears in the past. You have mastered new skills. With persistence, you can also be the leader you want to be.