The Three Stages in the Leadership Journey

I run a women’s business book club. This summer, one of our members introduced a fascinating idea: reading and discussing articles. The concept was simple—each person would present a summary of their chosen article and explore how its insights could be applied to both personal and business contexts. The article I’m bringing to the table is “The Leadership Odyssey” from The Harvard Business Review.


A phrase that has been echoing in my mind ever since I read the article is “what got you here won’t get you there,” and this article truly delves into that concept.


This piece deeply resonated with me because it aligns with where I currently stand on my journey and how I am viewing it. Gone are the days of the heroic leader charging ahead—the traditional image that often seems gender-biased towards men. In today’s landscape, women are carving out their place as effective leaders by acknowledging the importance of empowering those around us. We are stronger when we all rise together.

A Three-Stage Journey

The article outlines a three-stage journey: departure, voyage, and return.

Departure

The first stage, departure, is perhaps the most challenging. It’s that moment when you recognize, often through repeated teaching moments, that change is imperative. This is the stage where the phrase “what got you here won’t get you there” truly comes to life. It’s about realizing that the strategies and habits that brought you success in the past may not be the same ones that will lead you to becoming a great leader or successful business owner. This recognition often comes through feedback from colleagues and employees—a process that takes time and repeated instances to fully comprehend. Sometimes, finding a seasoned mentor with the skills you lack can serve as a model for the change you need.


However, this transformation usually demands external assistance, as it’s a more substantial effort than one might anticipate. An unbiased source, such as a coach, mentor, or advisor, can be invaluable in this journey. It’s about partnering with someone who guides you through this process of change.

Voyage

Once you’ve pinpointed the common thread among your issues and identified the behavior that needs alteration, you move on to the second stage—the Voyage.


In this phase, successful executives create a fresh learning context. They place themselves in situations where their authority is indirect, and they need to empower others without wielding traditional control. A collaborative style takes precedence over dictating and driving objectives. This new approach involves asking questions that steer conversations towards desired outcomes—an exercise in influencing without the traditional authority.


Another effective tactic during the Voyage is to transfer knowledge from other domains to your current situation. The article uses parenting as an example, highlighting the collaborative nature of raising a child—a challenge we’re all familiar with!


Enlisting the support of close colleagues who can point out when you exhibit the behaviors you’re trying to change is another strategy. These small wins, although they may encounter setbacks, are essential in the journey.

Return

The final stage, Return, is easily recognizable. You find comfort in situations that previously frustrated you. Your journey yields a new professional identity—an identity characterized by the transformation from practiced behavior to inherent traits. While the journey never truly concludes, it becomes self-sustaining.


Moreover, this newfound expertise fuels a desire to share your learnings, fostering growth in the workplace and beyond.


Embarking on this journey effectively begins with charting out a learning agenda. This plan illuminates the path towards behavior change and provides insights into the required effort. Ultimately, self-awareness is the cornerstone of successful change. Understanding who you are and acknowledging your insecurities can profoundly aid this transformation.


The “Leadership Odyssey” sheds light on the evolution of leadership. It speaks to a profound truth: to reach new heights, we must let go of what propelled us in the past. As we embrace this journey, it’s not just our roles that transform, but our identities as leaders and mentors.

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Leading vs Lagging Indicators: Financial Metrics Small Business Owners Need to Know

By Alisa McCabe • March 9, 2026
What Are Lagging Indicators? Lagging indicators measure results that already occurred. They confirm outcomes after decisions have played out, making them useful for evaluation and reporting. Common examples include: Net profit or loss Historical revenue growth Accounts receivable aging Customer acquisition cost calculated after campaigns conclude These figures are concrete and easy to pull from records, which makes them popular during reviews or planning sessions. Their strength lies in clarity. They show whether goals were met and whether strategies delivered results. Their weakness is timing. Once the numbers appear, the opportunity to influence them has passed. Adjustments based on these readings affect future periods, not the one already closed. What Are Leading Indicators? Leading indicators focus on signals that suggest what may happen next. They do not guarantee outcomes, yet they provide early insight into momentum and risk. Examples include: Sales pipeline value Website traffic paired with conversion behavior Engagement trends Cash flow projections Quote-to-close ratios These measures require consistency and discipline, since they depend on timely updates and thoughtful interpretation. Their advantage is foresight. They give leaders room to respond before challenges escalate. Their limitation is complexity. Tracking them takes effort, and interpretation can feel less certain than reviewing completed results. Why Small Businesses Need Both Lagging measurements validate whether a plan was successful or not. They answer questions about effectiveness and efficiency after the fact. Leading signals provide the chance to adapt sooner. They highlight potential shortfalls or opportunities while there is still time to act. Using both creates balance. One confirms reality, while the other shapes preparation. Together, they support steadier decisions and reduce surprises. How to Get Started Begin by identifying two or three lagging results that reflect success in your industry. Choose figures that clearly connect to sustainability and cash health. Next, select two or three leading signals that influence those outcomes. For example, if collection timing affects cash availability, monitor invoice trends and projected inflows. Use tools like QuickBooks Online or customized dashboards to keep information visible. Schedule regular reviews weekly or monthly and commit to acting on what you see. Consistency matters more than volume. Turn Leading vs Lagging Indicators Into Action Understanding which signals matter is one step, but interpreting them accurately and applying them consistently is another. At First Steps Financial, we help organizations connect financial metrics with daily decisions through fractional bookkeeping and consultation. Our role is to guide you toward clarity, not overwhelm you with data. If you want support setting up meaningful indicators and using them with confidence, let’s chat.

Protecting Your Investment: What to Consider Before You Sign a Small Business Partnership Agreement

By Alisa McCabe • February 24, 2026
Defining Roles, Authority, and Accountability Partnerships struggle most when responsibilities overlap or remain vague. Each participant should understand their scope of authority, operational duties, and decision-making rights . Consider how daily choices will be handled. Determine who oversees operations, who manages finances, and who represents the organization externally. Clarity supports efficiency and reduces friction. Written definitions also help when circumstances change. Growth, staff additions, or market shifts can test informal arrangements, while documented expectations provide stability. Capital Contributions and Ongoing Commitments Money is often the most sensitive topic in any business partnership agreement. Initial contributions should be clearly documented, including cash, assets, or services provided at the start. Equally important is understanding future commitments. Decide how additional funding needs will be handled. Will partners contribute proportionally, seek outside financing, or pause expansion plans? Addressing these questions upfront avoids resentment and protects working relationships. Transparency around financial considerations builds confidence and aligns priorities. Profit Sharing, Draws, and Cash Flow Planning Sharing profits seems simple until timing and distribution enter the conversation. Agreements should outline how earnings are allocated, when distributions occur, and what happens during lean periods. It is also wise to distinguish between compensation for active involvement and returns on ownership. Mixing the two can cloud performance discussions and strain cash availability. Clear policies help ensure stability, especially when one partner depends more heavily on income from the organization than another. Exit Paths and Conflict Resolution Even strong partnerships can change over time. Planning for exits does not signal mistrust. It reflects foresight. Outline how ownership transfers occur, how valuations are determined, and what triggers a buyout. Include processes for resolving disputes without disrupting operations. Having a roadmap for difficult scenarios protects both the investment and the people involved. Turning Planning Into Financial Clarity A strong business partnership agreement is more than a legal formality; it's an investment in your business's future and the relationship at its core. The effort you invest in planning now pays dividends through smoother operations, fewer misunderstandings, and stronger trust between partners. However, partnership agreements don't exist in a vacuum. They need to align with your actual financial realities: cash flow patterns, equity structures, and long-term sustainability goals. At First Steps Financial , we help businesses gain financial clarity through fractional bookkeeping and financial consultation services. We’ll navigate the numbers so you can focus on running your business and building a solid partnership. Let's connect.

Accounting for Small Business Owners: 5 Red Flags That Your Books are Broken (And How to Fix Them)

By Alisa McCabe • February 9, 2026
1. Your Financial Reports Never Match Reality If statements show healthy margins, but the bank balance feels tight, something is off. This disconnect often points to missing entries, timing issues, or misclassified transactions. Start by reconciling accounts monthly. Compare statements against source documents such as invoices, receipts, and bank activity. Consistency creates trust in the numbers and reduces surprises when reviewing performance. 2. You Are Always Behind on Updates When records lag weeks or months behind, visibility disappears. Decisions become guesses rather than informed choices. Create a recurring schedule for updates. Weekly or biweekly check-ins keep information current and manageable. Smaller intervals also make it easier to catch errors early, before they compound into larger issues. 3. Expense Categories Keep Changing Frequent shifts in how costs are labeled make trends impossible to track. Without consistency, comparing periods lose meaning. Establish a clear chart of categories and stick to it. Adjust only when operations evolve in a meaningful way. Stable classifications help reveal spending patterns and support better planning. 4. You Rely on Your Bank Balance Alone Checking available cash may feel sufficient, but it only tells part of the story. Outstanding invoices, upcoming obligations, and recurring commitments are invisible without proper reporting. Use cash flow summaries to understand timing. Seeing inflows and outflows together provides clarity and reduces stress during slower periods. Awareness supports proactive choices instead of reactive ones. 5. Corrections Happen Only During Year-End Waiting until the end of the year to clean up records can feel efficient, yet it often creates confusion and rushed fixes. Important insights are lost along the way. Build in periodic reviews. Quarterly assessments allow adjustments while details are still fresh. This habit improves accuracy and reduces the burden of large-scale corrections later. Turning Clarity Into Confidence Addressing these red flags takes time and discipline, but the payoff is control. Reliable records support smarter pricing, steadier cash management, and calmer leadership. First Steps Financial partners with organizations that want clarity without adding internal strain. Through fractional bookkeeping and financial consultation, our team helps bring structure, consistency, and insight to financial systems so leaders can focus on running their operations with confidence. If you are ready to replace uncertainty with clarity, let’s connect .

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