Pamela Springer has always aimed
high. Her history of success goes
back to the early ’80s, when her college basketball team at Franklin University
made it to the NCAA Final Four. Since
then, she’s succeeded in leadership positions at a number of tech companies.
Today, she is CEO of ECNext, which
builds and manages commerce stores.
“When I joined ECNext in 2003 as VP of
sales, we only had four customers; we now
have 55,” says Springer of the 40-employee
company.
Smart Business spoke to Springer about
why every company needs irritants and
why CEOs need mature egos.
Q: What leadership qualities are essential?
Accountability is at the top of the list.
Great leaders operate more as coaches
than dictators.
They are clear with their direction and
concise when it comes to explaining goals.
However, they allow flexibility within
parameters.
Ego maturity is also vital. Smart leaders
are not infallible, but they know how to
‘fail fast.’ In other words, they are not
afraid to make a mistake, learn from it and
move on.
Our business, by nature, involves lots of
experimentation before we discover what
really works. So, if we do not periodically
miss the bulls-eye, we are not operating
aggressively enough.
Drawing on the expertise of others is
another sign of ego maturity. I am by no
means the smartest person, but I can be
resourceful enough to tap into others’
strengths. I am not afraid to make decisions, but I am surrounded by people who
are very capable of helping me make them.
I am not afraid to lean on others, and that
takes a certain amount of humility.
Q: What mistakes does a CEO need to
avoid?
One of the most costly mistakes any
leader can make is not filling positions
with the right people. The saying ‘hire
slow, fire fast’ is so true.
You have to really evaluate the trade-offs
if you bring someone on board who has
never done the job before, regardless of
how talented they might be. On-the-job
training is expensive and risky.
Another mistake is what I call creeping
logic. This involves putting effort into justifying solutions and decisions that no
longer work. It is important to put your
ego aside and change with the times,
rather than become emotionally attached
to an idea whose time has come and gone.
Cash flow is of paramount importance.
You can never have enough cash. I put a lot
of energy into aggressively managing and
monitoring our cash flow.
Q: What advice would you give a brand
new CEO?
Take a look at your constituents and evaluate who has priority. For example, we
have three in our business — our employees, customers and investors. While they
are all vitally important, there can only be
one No. 1.
There are times when the primary focus
needs to be on the employees. Perhaps the
job market is tight, and our primary concern is retaining talent. There are other
times when customers are the main focus.
You must be able to identify the cycle you
are in, determine what’s a win and know
what it will take to get you to the
next cycle successfully.
Q: How do you motivate and
empower employees?
Motivation comes from within,
but we can set the right environment to help our staff flourish. I
believe every company needs
irritants. By that, I mean employees who challenge the status
quo.
It is dangerous when you drink
too much of your own Kool-Aid.
Group-think does not propel
companies forward. It is dangerous to get too comfortable and
complacent.
You need irritants to keep
everyone sharp. I strive to communicate to my staff that it is
okay to disagree. This behavior
needs to be rewarded rather than punished
or discouraged.
Q: What qualities do you look for when
hiring?
I look for employees who not only can do
the job but will do it. Many are capable and
competent but lack the drive to push their
limits.
The most desirable employees have prior
exposure to the business we are in but are
not stuck in their ways. They are open and
adaptable to our company’s culture and
vision.
Ego maturity is something I always evaluate when making hiring decisions. Can
this person receive input? Are they going
to be interested in the company’s success,
or self-absorbed or self-focused?
Finally, being a team player cannot be
overemphasized. If someone else comes
up with a great idea, will they embrace it or
react in a competitive manner?
HOW TO REACH: ECNext, (614) 682-5103 or www.ecnext.com
The Women in Business series
is presented by Smart Business
through the support of Fifth Third Bank.