Struggling with Career Derailers? - Part 3
How Biz Savvy helps with Earning Sponsorship
I sincerely hope that my totally mortifying experience from Part 2 gives you new insights about the power of Business Savvy and how to Self-Promote with grace, authenticity and ease.
If not, I’ve embarrassed myself for nothing!
If so, you might be wondering what exactly I mean when I talk about Business Savvy.
What is Business Savvy?
Here’s what I mean in a nutshell (or Venn diagram).
Business Savvy is the sweet spot in a Venn diagram where your business, financial and strategic acumen come together.
Read the definitions below to better understand what I mean by:
Business Acumen
Financial Acumen
Strategic Acumen
You can see that:
Business acumen is more than doing your job.
Financial acumen is more than familiarity with a budget.
Strategic acumen is more than having innovative ideas.
Developing and demonstrating each are different.
Business Savvy @ Every Level
Aword about how this works at different levels. Does it apply even if you’re not an executive.
It absolutely does!
Business, financial and strategic acumen manifest at every level from individual contributor to the C-Suite.
It just looks different.
TAKE ACTION: Let’s delve a bit deeper into the idea of which door you’re behind. Which do you most need at this point in your career? (You can, of course, choose more than one.)
To Develop:
Business Acumen
Financial Acumen
Strategic Acumen
AND/OR
To Demonstrate:
Business Acumen
Financial Acumen
Strategic Acumen
Earn Sponsorship
Conventional advice will tell you,
“Forget a mentor, get a sponsor.”
Worst advice ever given.
You simply can’t “get” a sponsor.
Sponsorship must be earned.
After all, sponsors are spending social capital to advocate on your behalf.
If you look for tips on how to benefit from sponsorship conventional advice tells you to:
Build your network
Demo your value
Express ambition
Seek & act on feedback
ID potential sponsors
Build your personal brand
Take high visibility roles/assignments
Without Business Savvy, you’re left wondering.
What network? Everyone? Who should I be networking with? What should we be networking about?
How do I demo my value? Do I keep my head down and do a good job? In the context of the business, what is my value anyway? What do I do that my boss’ boss cares about?
Is saying that I want a promotion the right way to express ambition? What would work better?
What feedback should I be seeking and acting on? All feedback or would certain specific feedback be more important than others. And who should I be asking?
Can I ask for sponsorship? (OK I’m answering this one - generally ABSOLUTELY NOT. Sponsorship is EARNED by being seen as a partner in the business (e.g. having Business Savvy).
Why isn’t the fact that everyone thinks I’m great (personal brand) getting me what I want?
Which would be the smart high visibility roles/assignments to seek and take?
With Business Savvy the advice is very different
Consistently achieve or exceed your goals and demonstrate Business Savvy in order to be seen as a partner in the business. (NOTE: Executives will not spend social capital advocating on your behalf unless they see you as a partner in the business.)
Your boss is your first potential sponsor. Express your interest in and use your Business Savvy to make a case for contributing to the organization at higher levels and broader contexts. Also use your Business Savvy to suss out those opportunities. (BTW: Don’t give the message, “I want or I’m ready for a promotion.”)
Build and nurture a strong strategic network inside and outside your organization.
Use your Business Savvy to build your leadership brand not your personal brand. (see Part 6).
Use your Business Savvy to keep an eye on parts of the business that are brand new, growing and/or where you could resolve problems that are of concern to executives. Seek opportunities in those areas.
Do you see how strongly the advice is connected to the business?
TAKE ACTION
What could you do differently to be earning sponsorship?*
In the next post we’ll take a look at your Leadership Brand.
*If you’re thinking that now’s the time to Be (more) Business Savvy, start your journey here.
I’m Susan Colantuono, best known for my TED Talk, “The Career Advice You Probably Didn’t Get.”
I’ve devoted most of my working life to supporting the career advancement of women.
Now my work is exclusively focused on offering women tools for developing and demonstrating Business Savvy - the business, financial and strategic acumen we need to succeed and to close The Missing 33% of the career success equation for women.
Now, I’m making my groundbreaking course available in a self-paced version with coaching support right here at Be Business Savvy. Check it out!
You will find other useful and actionable content in my books and other online resources:
No Ceiling, No Walls ebook
No Ceiling, No Walls soft cover
Make the Most of Mentoring soft cover
Coaching Executive Women (occasional) newsletter
Lead ON!
Susan