How often have you begun working on a project only to find that you are already floundering soon after you have started? Or worse – you announce the start of a new initiative and your staff groans, “Oh no, here we go again.”
Perhaps one of the problems is that you omitted a fundamental step before beginning your change initiative: establishing your stake.
Don’t Confuse Stake With Stakeholder
Your stake is not:
- What you may gain or lose as a result of the change
- Who you need to participate in the change
- What resources you need to marshal to initiate your change
Rather, your stake is a simple statement of why I am doing what I am planning to do. It is the personal reflection of the reason that your change initiative is necessary, prudent, or desirable.
In its most basic form, your stake reflects simple motivation; for instance: “I need to improve client satisfaction.” Ideally, your stake will reflect the connection between your specific change initiative and your vision: “I wish to be the provider of choice for 150 mile radius of my facility, and improving client satisfaction is my first step.”
The Importance of Stake
When you have a firm understanding of why you want change and how change connects with your overall vision, you’ve created a tremendous ally and asset. Imagine the advantage the early explorers gained when they first used a magnetized needle stuck through cork floating on a bowl of water as a compass. This first compass gave them the confidence they needed to face fog and perilous winds, travel out of the sight of land, and discover new worlds. Your stake is your “first compass,” enabling you to focus on the direction of your change, regardless of barriers or obstacles: It is important for me to persist in this undertaking because _______. It also serves as a team rally point when things start to go awry: “Remember the Stake!” Finally, it is the “safe harbor” when the storms of resistance threaten: “Batten down the hatches men – this one’s going to be rough, but we can ride it out.”
Creating a Stake With Value
Creating your stake is the singular most important first step in any change initiative. Unlike the creation of the first compass, it is not serendipitous. It is purposeful, yet requires a little thinking outside of the box in the form of some simple brainstorming. The brainstorming should open up the right side of your brain with all its creativity to synch with the left side logic to coalesce into a simple sentence or two. That statement is your stake. When you brainstorm, ask yourself these questions:
- How does what I want to do fit into the organization’s overall vision and honor its values?
- Where did those values come from?
Just as a good compass requires a magnetized needle, your values or the values of the organization are the magnetic field that resonates with the true North of your vision and goals. Without including values in the creation of your stake, you would be creating a compass with the needle magnetized to the wrong pole. You would get somewhere, but it wouldn’t be where you want to go. It all begins and ends with value.
Use Your Stake to Greatest Advantage
How do you get the most mileage out of your stake? You share it – with your team, your boss, and your customers. You make it a prime mover of your change initiative and a reflection of your personal passion. When your crew (your boss, team, and customers) understand that you know where you’re going and why you want to go there, they will hoist your sails, raise your anchor, pump your bilge, and help you sail to your New World of change.
Stake is that important, so make sure you establish your stake before you begin your journey to change.
