When Business Leaders Confess That They Don’t Know What They Don’t Know

When Business Leaders Confess That They Don’t Know What They Don’t Know

I have avoided yoga class for a few months because I was intimidated by the fact that most of the participants twist and turn like the performers in Cirque du Soleil®. This morning I decided I would break through my barrier of feeling intimidated and attend the class. As I drove to class, I realized one of the reasons I was willing to step outside of my comfort zone TODAY was because I had attended previous classes with this specific teacher. Alyson Foreacre is the owner of Yoga Den, where I attend. She is an amazing teacher who I trusted to lead me through my own practice of yoga. If all I did was stay in one yoga pose and breath, she would probably encourage me to do more in a very respectful and empathetic way.

My journey with yoga can be compared to how business leaders feel about financial information. In my years of practice, I have learned that they are intimidated by financial reports. They are fearful of asking questions, they don’t want to sound ignorant. Feeling intimidated by yoga class and by financial information is similar, as in both cases we are keeping ourselves from something that can be helpful in our overall lives.

My feelings of intimidation with yoga were primarily tied to fear of not keeping up with the class and not knowing how to do all the moves. I didn’t know what I didn’t know about how yoga class is a practice, not a directive. I was so right when I told myself “I got this” with Alyson’s assistance. She is an encouraging teacher who provides alternatives if she knows you need them. She also lovingly encourages you when you need a little guidance. Today she even laid on the floor beside me to show me how to do a certain move.  She validated my confidence in her ability to get me through the difficult moves.

I often meet with entrepreneurial business owners, nonprofit leaders or business professionals in corporations to discuss their pain points. The most frequent statement I hear during those discussions are “I don’t know what I don’t know.”  I have to admit that, it wasn’t until I was attacked by the anxiety of doing the right kind of Downward-Facing Dog and other yoga moves, that I truly have the proper level of empathy for this statement. I also realized that I should feel honored that my clients trust in me to share their own fears of financial information.

When Business Leaders Confess That They Don’t Know What They Don’t Know

Being responsible for an entire organization, or even just a section of one, without understanding the financial implications can be frightening. It takes a lot of courage to push through your uncomfortable zone, to accept some uncomfortable space for some time until you understand. Just like my sore muscles right now are telling me it will take a few times before that class feels good.  But I know that if I dare to go again and I struggle, Alyson will be there for me.

Is it possible that you don’t know what you don’t know? If you struggle with the following internal dialog, the answer is probably “Yes”:

  1. I do not receive financial statements each month timely and I do not understand why.
  2. Cash is very tight, and I am not sure we have enough money to pay the bills and make payroll for the next month or two.  I am not sure how to address this.
  3. The new revenue recognition guidance is required, and I do not know where to begin with implementation.
  4. The organization needs to raise capital and I do not know what the right type of investor is for our organization.
  5. The corporation needs to divest of a subsidiary or a line of business and I am not sure how to make that work. What are the options?
  6. I know we need better systems and process to improve the customer experience but I do not know where to begin or have the time to ask various vendors what their system does, or even understand the full capabilities of our current system.

Barker Associates can help you work through these anxieties and guide you through the process. We are direct communicators who will share with you the reality of the situation, even it is not what you want to hear. Recalling my sore yoga muscles, I will be empathetic to your journey of not knowing what you do not know. Give me a chance to let my experience work for you. https://mindybarkerassociates.com/contact/

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