Name: Mike O Donnell

Title: Executive director

Organisation: Prairie Rose Development

- I grew up in Australia and attended college and graduate school there

- I legally moved to the US in the late 80s to marry my wife-to-be (a Kansan I met at grad school in Australia)

- I operated the Small Business Development Center (SBDC) at the University of Kansas, operated the Small Business Institute & taught classes in the business school

- I moved to Colorado in 2000 to head Colorado Lending Source, a mission-based nonprofit lender offering SBA loan programs statewide, and built the organization from 2 employees to more than 40 and facilitated almost 4,000 loans, helping small businesses in the state create more than 29,000 jobs

- In 2019, I received a Lifetime Achievement Award from the Council of Development Finance Agencies for outstanding national contributions to the development finance industry

- In late 2020, I “retired” from Colorado Lending Source to refocus efforts on integrating character-based lending models into entrepreneurial ecosystems through a new nonprofit entity I founded called Prairie Rose Development, which I currently operate

- I took a slight political diversion in 2022 with I became an unsuccessful candidate for the elected office of Colorado Secretary of State, but back on track now. (Politics sucks unless you are both rich and fat!)

Thank you to the 2,000 leaders who’ve generously done the 7 Questions on Leadership!

We’ve gone through the interviews and asked the best of the best to come back and answer 7 MORE Questions on Leadership.

I hope Mike's answers will encourage you in your leadership journey. Enjoy!

Cheers,

Jonno White

1. As a leader, how do you build trust with employees, customers and other stakeholders?

First by listening and then by proactively acting on what I hear

2. What do 'VISION' and 'MISSION' mean to you? And what does it actually look like to use them in real-world business?

Different things. Mission is what an organization exists to do, and for me is something that isn't necessarily fully achievable. Vision is the road map of how to get as close as possible to achieving that mission.

3. How can a leader empower the people they're leading?

By working with them and giving them the ability to make and learn from their mistakes

4. Who are some of the coaches or mentors in your life who have had a positive influence on your leadership? Can you please tell a meaningful story about one of them?

I have had many, both positive and negative. My first coach was my boss's boss's boss when I first started as a graduate trainee at Ford Australia. He would often direct me to fill up his company-provided car at lunchtime, which involved queuing up in a long line of cars to get petrol from the pump in the company parking lot. One day, I earned the courage to tell him that there were better things I could do with my company time than putting petrol in his car, and thereafter, I never had to do it again.

5. Leadership is often more about what you DON'T do. How do you maintain focus in your role?

By constantly learning and looking for better ways to do things.

6. If you fail to plan, you plan to fail. Everyone plans differently. How do you plan for the week, month and years ahead in your role?

During my 20 years at the head of Colorado Lending Source, I would prepare and update a strategic plan for the board each year based on the mission, vision, and overall goals of the organization. The plans were five-year plans with defined, progressive, and measurable outcomes. It was a document for me, the board, and the entire staff.

7. What advice would you give to a young leader who is struggling to delegate effectively?

Get a mentor