Creating Success In Economic Crisis

Judy’s Gold Star Action: Seek advice, make communication a number one priority, extend yourself, ask questions, listen to the answers and then take action. Be brave enough to embrace change and trust yourself.

Anne Mulcahy, CEO & Chairman, Xerox, and Judy Jernudd, CEO, Startegic

First Impression: You couldn’t help but notice the lively, outgoing woman interacting with people just before the Town Hall meeting began. Within a few seconds, this energetic personality was whisking her way toward me.  She extended her hand, smiled and said, “Hi, I’m Anne Mulcahy!”  Without editing, I blurted out, “You’re Anne Mulcahy?  I spotted you right away and thought it would be great to meet you…and here we are!”  She  laughed at my candor…or shock. How many Fortune 500 CEOs do you meet who walk up and introduce themselves to you with such charm?

I was attending the event specifically to hear this CEO and Chairmen of Xerox speak, but without any idea as to what she looked liked. It was fascinating to watch Ms. Mulcahy extend herself to strangers with ease and enthusiasm. You knew you were in the presence of someone special, not by titles, rather in how she presented herself. Everything about her communicated confidence and genuineness.

Lesson: Within seconds of meeting someone for the first time, you form an impression, positively or negatively.  Here are some “first impressions” she created: Lively, energetic, unpretentious, confident, real, present, comfortable and enthusiastic. Does this sound like an influential person to you or someone you would like to know?  Think about the first impression you make every time you’re in front of an audience to speak, present, or when you’re meeting people one-on-one. The opportunity is always there to give the best of you.

Rising Star: In 1976, Ms. Mulcahy began her career at Xerox as a field sales rep. She worked her way up to become VP of Human Resources. She became Chief Staff Officer in 1997, Corporate Senior VP in 1998. While her goal was not to run Xerox, the board selected her to become the CEO in 2001.  In 2002, she achieved the Chairman position in addition to CEO.

Challenges: At the time she was named CEO, Xerox was in deep trouble.  In fact, the company was facing bankruptcy. In her words, it was like being “drafted into war.”

Re-inventing: As she set out to re-invent the company; she launched a three month “Listening Tour” to hear the concerns of customers and employees. Innovation was a theme she used throughout her talk. Their business model had to change to survive. Today, the Xerox business model includes partnering with other companies, licensing agreements and the introduction of over 100 new technologies in the last three years. New innovations are a combination of collaborative efforts with other companies and are solely Xerox.

Philosophy: “In crisis, you have amazing opportunities.”

Lessons: No doubt, today almost every business, organization, association or entrepreneur is facing a form of crisis. One of the many lessons I took away from Anne Mulachy is that a winner’s attitude is essential. You need to pay even greater attention to your clients, your team, and yes, your business might have to change to survive today’s economic times. Communication is at the top of her list.

From my experience in working with transformational behavior,  I have learned your self-talk will determine your success. When you believe you can survive these times, you will do whatever it takes to meet the challenges. People with optimism are the people others seek out. They are the influential.

Leadership Advice: “Good leaders paint a vision, invest in it, state clear direction and communicate constantly,” says Ms. Mulachy.  Her leadership style is candid, realistic and confident. “Pay attention to the facts when making decisions and at the end of the day, trust your experience and your instinct.”

Judy’s Gold Star Action: Seek advice, make communication a number one priority, extend yourself, ask questions, listen to the answers and then take action. Be brave enough to embrace change and trust yourself.

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