The science of economics is often described as being about the division and allocation of scarce resources. Any leader has been through a corporate budgeting or capital allocation process has experienced this firsthand. A lot of time and attention gets spent on the division and allocation of financial resources. Decisions about how to deploy them often turn on a expectation of return on investment.
What many leaders don’t spend as much time considering is the return on investment on how they deploy their leadership capital. Like everyone else, leaders have only so much time and attention they can deploy in any given week. It just makes sense, then, to consider the return on that investment and to make an effort to deploy it in a way that generates the most leverage.
With their new book, Lead Inside the Box, veteran leadership coaches and consultants Mike Figliuolo and Victor Prince, offer a simple yet powerful framework for how leaders can get the greatest return on the time they invest in the people on their team. Working from the premise that one size doesn’t fit all, Mike and Victor teach leaders how to assess who they’re working with and then, based on that assessment, offer practical tips on how to lead and coach their team members.
I recently had the opportunity to speak with Mike about Lead Inside the Box. In this brief recorded interview he offers some takeaways that you can put to use right away. If you think you might be able to get a greater ROI on your own leadership capital, you’ll want to give it a listen.