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|In: Business Ethics|Last Updated:

Show me the victim!

Insider trading is in the news, and is so often is the case, there are parallels to your day-to-day decisions and actions as a leader in the world of business, independent of the specific indictment. And so …

A common defense for insider traders is that it’s a victimless crime. That is, when the stock in question is from a publicly held company, it’s rarely possible to identify any individual who was directly harmed by the insider trading.

The usual counter is that the stock in question is priced wrong because the information in question is known only to insiders. Armed with that information, insider traders know when a stock is underpriced and they should buy, and when it’s overpriced and they should sell. Who do they buy from and sell to? To other investors who lack access to the key facts in question.

From KJR’s perspective this is interesting but not essential, included here for completeness. Here’s what is essential to you as a business leader.

Imagine that, instead of investing, we’re talking about the Minnesota State Lottery. Now imagine the headline story is that one player has been told the first 3 numbers of the winning entry.

If I’ve done my arithmetic right, this knowledge improves the odds of winning from 1 in  36,348,339,200 to 1 in 115,600. As payouts, based on the first number, are typically in the tens of millions and each ticket costs $2, an investment of $231,200 pretty much guarantees the player with insider knowledge a multi-million dollar profit.

Ignoring the debate over whether this is a crime with victims or not, we come to a more important matter: Everyone now knows it’s a rigged game.

This is an issue that matters to all business leaders, or at least it should: Many, without even thinking about it, rig the game of getting raises, bonuses, and promotions.

Take, for example, the very common situation of a mentor/protégé relationship. This is widely considered to be a positive thing — leaders should mentor promising employees as part of being a good corporate citizen.

And it is: the additional mentoring makes the protégé a better manager and leader; having a better manager and leader makes the company incrementally more effective; and as the protégé progresses through the management ranks, the mentor increases his or her influence in the corporation at large.

Also: Because the mentor/protégé relationship is warmer than that of boss to direct report, the mentor and protégé inevitably develop a personal friendship, the result of which is that the protégé has increasing influence with his/her mentor.

Which is also good, in that the mentor now gets a second pair of eyes on difficult decisions.

What’s not to like?

Everything is not to like if you aren’t the mentor or protégé, which, mathematically speaking, is everyone minus one. Because everyone (minus one if the protégé is oblivious) knows the game of raises, bonuses, and promotions is rigged in favor of the protégé.

Take, for example, one of the most basic leadership skills (and one of the eight tasks of leadership — see Leading IT: (Still) the Toughest Job in the World, 2nd Edition, by yours truly, IS Survivor Publishing, 2011. Leaders generally delegate to those they considered most qualified. As they mentor their protégé, the protégé is, in their eyes, more and more likely to be the most qualified, especially for high-visibility assignments.

Which gets the protégé the next high-visibility assignment.

It’s a virtuous cycle if you’re the protégé; a vicious one if you’re anyone else.

How, as a leader, do you solve this? It isn’t complicated: As a business leader you should think of yourself as mentor for all of your direct reports.

What’s easy is the concept. What’s hard is that you inevitably have better rapport with some of the men and women who report to you than you do with others.

My recommendation: Invest the time needed to develop rapport with the ones who are harder.

That’s the view as you consider your relationship with your direct reports. How about your relationship with your own manager, if your manager is less conscious of these dynamics?

The solution is as inescapable as it is unfortunate. It’s that the only thing worse than having to play a crooked game is losing one.

Be the protégé.

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|In: Career Management|Last Updated:

We spent the weekend on the road, and there was never a good time to write.

And so, as last week’s column was about how to seem more literate, it seemed only reasonable to move from writing to PowerPointing. Luckily enough, the column that follows, first published late in 2006, covers the ground quite nicely.

– Bob

# # #

Question: Since people have been stupid as long as there have been people, why do so many of us blame PowerPoint? When someone writes stupid sentences, do we blame MS Word?

PowerPoint is no different from speaking — if someone’s point is foolish, either will make the fact more public. So the first rule of good PowerPointing is the same as the first rule of speech: First, think.

Many bytes have been expended providing other PowerPoint guidelines. Some have provided marvelous self-referential warnings — dull and poorly constructed presentations explaining how to avoid creating dull and poorly constructed presentations.

Most of the “rules” are, by the way, contextual. For example:

PowerPoint Rule: Never use anything smaller than a 16 point font. It’s terrific advice, when you’re building a presentation that will (a) be projected in a large room, (b) to an audience that has not received printed copies of the presentation, and (c) won’t have access to a version that can be scrutinized later on.

Let’s start over. PowerPoint and its competitors are more than packages for developing presentations that will be projected in a large room. They’re general-purpose communications tools. Presentation software and word processing software differ in one important respect: Presentation software enforces a discipline of telling a complete story on each page.

That, in fact, is the only hard-and-fast rule of using presentation software correctly: Make each page tell a story.

A few other thoughts and notions:

Respect the tool. Presentation packages provide sophisticated facilities for helping you achieve consistent formatting. Take advantage of them. Use the Title placeholder to contain slide titles, the built-in, automated slide numbering feature instead of manually placing slide numbers at the bottom of each slide, and tab stops or separate text boxes instead of the space bar for fine positioning. Among the advantages: When you change templates, your slides will require less clean-up.

Don’t use clip art to liven up slides. Inserting clip art of a detective with a magnifying glass onto a slide whose title is “A closer look,” is something less than highly original. It was hokey the first time and hasn’t improved since.

Do use illustrations to tell your story, instead of simple bulleted lists. A list of bullets is a fine way to present a handful of parallel ideas. A graphic gives you the opportunity to show their interrelationships as well.If, for example, your bullets present the sequence of seven steps you’ll follow to complete an assignment, place seven boxes on the screen, positioned diagonally from upper left to lower right. Connect them with arrows — right-angled ones that descend from the bottom mid-point of each box to the left-side mid-point of the next one. Label each box with one of the steps.

Have too much to say about each step for this format to work? Create a row of seven block arrows across the top of the slide and label those as the steps. Below each position a rectangle and put bullets in each to explain the specifics for each.

Use small fonts for fine points. Complex slides will sometimes require 10-point type. That’s okay, so long as you provide print-outs to your audience. They can read the big-fonted labels on the screen to keep track, and the fine-pointed details on the printed page.

Don’t just read your slides, except when you do. When a slide contains more than three bullets, say, “I want to focus your attention on a few points on this slide,” and then do so. If it contains a complex graphic, all of which matters, say, “This slide is complicated. Let me walk you through it.”

Sometimes, stop referring to your slides altogether and just talk to your audience. Your presentation is there to assist you, not to imprison you.

Use agenda slides. The first occurrence lets your audience know what to expect. Repeat it at transitions, bolding the upcoming topic. Doing so helps your audience keep track.

Never, ever apologize for your slides. If a slide contains a typographical error, your audience might find it mildly distracting. By apologizing you interrupt yourself, which is much more distracting.

Here’s what matters most: Excellent PowerPoint presentations are, before anything else, storytelling. Good presentations have a narrative flow. Each slide follows naturally from the one that precedes it and leads naturally to the next one.

It’s like any other form of communication. If you want to be effective, don’t just blurt — plan.

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