Being indispensable to your customers is the defining edge between surviving and thriving in this new economy. How would your customers answer these questions about your business? If you are not getting the perfect answer you are looking for, you know where to put your immediate efforts to improving your business in the eyes of your customers.
1. Who is the first organization that comes to the customer's mind in your industry?
99.2% of people surveyed said they will do business with the first company that comes to mind for a product or a service. Customers, either consumer or B2B customers will develop buying habits and resource habits. Once Google dominated Yahoo in searches, they worked to create interactive search pages for people to use as their home pages. Once Google became the default choice for a home page, Yahoo had to find a new service to offer, because they were done as a search engine.
Where are you positioned in your customers' habits? Are you the first choice that comes to mind, or are you the second alternative?
2. How eager are your customers to come in contact with your employees?
Once call centers were relocated overseas, customers began dreading help services because the people on the other end were perceived to have poor command of the language and information the customer needed help on. Companies who created good products were getting their reputation hammered because of the service interaction.
Do your customers dread talking with your employees, consider them a neutral experience, or enjoy the interaction with your staff? The more enjoyment your customers get from your staff the more interaction they are going to want. If you have a fun knowledgeable staff customers enjoy talking with, why are you using an automated phone system that makes it difficult to talk with a real person? Make the customer interaction personable.
3. What makes it worth the effort for your customers to do business with you?
Every buying decision is a choice. Maybe once you were the only competitor in town and now your customers have options closer. Once upon a time you had the most charismatic salesperson working a territory, who no longer works for you. What are you doing to make sure your customers consider you a worthy choice that is worth the effort to do business with you?
Too many businesses rest on their successful history and expect the flow of customers to continue. Nothing stays the same. When a city creates a new retail area, traffic patterns shift. When a competitor creates new technology, the rules of the industry change. When a competitor grows by acquiring other players in the market, you now have a new force to deal with. Companies go bankrupt ignoring these changes.
What changes have happened in your market to cause you to react and increase the reasons why customers should do business with you? Even better, how can you be proactive to maintain your customer base?
Tuesday, March 31, 2009
Monday, March 30, 2009
Grow Your Business the Easy Way
Many organizations are afraid to spend marketing dollars these days claiming no one is buying. Some organizations are "hoping" for growth but not willing to make the effort to grow, or try new things to grow.
Normally, I try to teach the cutting edge and challenge executives to try new things, but today here is a reminder of a tried and true technique that need dusted off, that's old school, but still works.
Growth strategies are not always new and innovative; sometimes the growth opportunities can be easily accessible and right in front of you. In advising a fellow speaker about growing her business I told her the easiest sale I can make is to one of my audience members. They have heard my information, delivery style and feel a connection. They know me and my approach to growth strategies. When they come up to me afterward and start asking about available dates on my calendar I know it's mine to lose. Why does this happen? It's the connection.
The same thing goes for my corporate clients who use me year after year -- They know I am good; therefore, it's easy for me to get to the point of sale. What about your current clients or customers? Do they feel comfortable enough with you to open up and share what’s really going on in their organization?
Get Interested
Every company is experiencing its own unique economic ride these days. How well are you tuned in to the specific journeys of your customers? Do the research, interview key executives of the client, get to know their situation. Trust me, right now people want to talk and tell their story. Whether it is a go-against-the-flow story of having a great year, or telling a tale of woe, people like to be heard. Show interest, listen and do not sell. That's right don't sell, just be the friend with the ear. Not only are you gathering information for a later sales call, you are being the friend they need right now. The more they know you, like you and trust you, the more they will want to do a greater amount of business with you.
Of course this is nothing new, but I see few organizations grabbing this opportunity. They are still pressing the sales staff to find new sales, to bring home the big new contract, when the best thing these sales people can do is grab a box of Krispy Kremes and a few coffees and make a call on a good current client and talk about the state of the industry, the economy, and that client's tale to tell.
Be the friend, and set down the order pad for a couple of visits. Be the ear they want to use to brag, let off some steam or just chat with.
People buy from those they are most comfortable with and we all know it's easier to sell to a current client than go find a new client. The key is you don't just want current clients, you want current clients who find you indispensable, and not just because of the products and services you offer, but because you are someone they need.
Normally, I try to teach the cutting edge and challenge executives to try new things, but today here is a reminder of a tried and true technique that need dusted off, that's old school, but still works.
Growth strategies are not always new and innovative; sometimes the growth opportunities can be easily accessible and right in front of you. In advising a fellow speaker about growing her business I told her the easiest sale I can make is to one of my audience members. They have heard my information, delivery style and feel a connection. They know me and my approach to growth strategies. When they come up to me afterward and start asking about available dates on my calendar I know it's mine to lose. Why does this happen? It's the connection.
The same thing goes for my corporate clients who use me year after year -- They know I am good; therefore, it's easy for me to get to the point of sale. What about your current clients or customers? Do they feel comfortable enough with you to open up and share what’s really going on in their organization?
Get Interested
Every company is experiencing its own unique economic ride these days. How well are you tuned in to the specific journeys of your customers? Do the research, interview key executives of the client, get to know their situation. Trust me, right now people want to talk and tell their story. Whether it is a go-against-the-flow story of having a great year, or telling a tale of woe, people like to be heard. Show interest, listen and do not sell. That's right don't sell, just be the friend with the ear. Not only are you gathering information for a later sales call, you are being the friend they need right now. The more they know you, like you and trust you, the more they will want to do a greater amount of business with you.
Of course this is nothing new, but I see few organizations grabbing this opportunity. They are still pressing the sales staff to find new sales, to bring home the big new contract, when the best thing these sales people can do is grab a box of Krispy Kremes and a few coffees and make a call on a good current client and talk about the state of the industry, the economy, and that client's tale to tell.
Be the friend, and set down the order pad for a couple of visits. Be the ear they want to use to brag, let off some steam or just chat with.
People buy from those they are most comfortable with and we all know it's easier to sell to a current client than go find a new client. The key is you don't just want current clients, you want current clients who find you indispensable, and not just because of the products and services you offer, but because you are someone they need.
Friday, March 27, 2009
We Need Mettle Detectors, Not Metal Detectors
I seem to live in airports these days and I've probably walked through hundreds if not thousands of metal detectors designed to keep our skies safe. What we really need are Mettle Detectors to keep our companies safe.
We need our organizational leaders in business and government to have the mettle (the character, fortitude and courage) to rise to occasions they are being called to take actions for. Wouldn't it be great if we had these electronic archways leaders could walk through so we could detect who really has the mettle to accept the challenge and do their best?
What would a mettle detector look for?
Grace under pressure
How do leaders react under pressure situations? How many pilots faced with ditching a plane in the Hudson would've handled the situation with such a calm and determined demeanor? The best indication of possessing that ability is to look at prior actions. I dare say Capt Scully Sullenberger was never perceived as a "cowboy" in the skies prior to that flight. I imagine his flight record was impeccable.
How are your organization leaders acting in the face of the financial crisis we are facing these days? Sadly, our government is demonstrating with each hearing they are more interested in placing blame than in finding solutions. This a mettle failure on public display.
Solid accountability
American business has fallen into a game of executives assuring themselves of a golden parachute and then making carefree corporate decisions as if nothing was at stake, when in fact for them nothing is at stake because they get their large sums of money regardless.
True leaders have the mettle to accept the responsibility of creating organizational success and wealth at their own peril. They accept the compensation directly tied to their actions and responsibilities. If we truly had a mettle detector business disasters such as Enron, AIG, and Illinois former governor Blagojevich never would have made it to their positions of authority.
As you select leaders for your company even at the department head level, set up your own version of a mettle detector. Find out how your prospects act under pressure, determine how they will react in crisis mode, and finally set up a program for mettle development in your organization because detectors are only determining what already exists. Mettle development adds more strength to an organization that is driven for success and growth.
We need our organizational leaders in business and government to have the mettle (the character, fortitude and courage) to rise to occasions they are being called to take actions for. Wouldn't it be great if we had these electronic archways leaders could walk through so we could detect who really has the mettle to accept the challenge and do their best?
What would a mettle detector look for?
Grace under pressure
How do leaders react under pressure situations? How many pilots faced with ditching a plane in the Hudson would've handled the situation with such a calm and determined demeanor? The best indication of possessing that ability is to look at prior actions. I dare say Capt Scully Sullenberger was never perceived as a "cowboy" in the skies prior to that flight. I imagine his flight record was impeccable.
How are your organization leaders acting in the face of the financial crisis we are facing these days? Sadly, our government is demonstrating with each hearing they are more interested in placing blame than in finding solutions. This a mettle failure on public display.
Solid accountability
American business has fallen into a game of executives assuring themselves of a golden parachute and then making carefree corporate decisions as if nothing was at stake, when in fact for them nothing is at stake because they get their large sums of money regardless.
True leaders have the mettle to accept the responsibility of creating organizational success and wealth at their own peril. They accept the compensation directly tied to their actions and responsibilities. If we truly had a mettle detector business disasters such as Enron, AIG, and Illinois former governor Blagojevich never would have made it to their positions of authority.
As you select leaders for your company even at the department head level, set up your own version of a mettle detector. Find out how your prospects act under pressure, determine how they will react in crisis mode, and finally set up a program for mettle development in your organization because detectors are only determining what already exists. Mettle development adds more strength to an organization that is driven for success and growth.
Thursday, March 26, 2009
Opinion Polls Are Just That -- Opinions
Whether it is CNN or Cbssportsline.com or any of the other news outlets, opinion polls are used excessively to keep the pulse on what we think. Even popular television shows pick winners largely based on audience opinions. The technology is easy to use, it spits out instant data that can be charted or graphed and makes for instant conversation which is what a 24-hour news cycle needs.
The pitfall of overuse of opinion polls is not only the rash of meaningless numbers produced but it sets a tone of that is how decisions should be made.
Executives and people in positions of authority, ostensibly our leaders, are people who possess the ability to gather information and make decisions based on the analysis of that information. They are the people who have visions and plans to lead their organizations toward better performance, market share and profitability. If they succeed they should be handsomely rewarded.
If they fail, they should be removed from office. Leaders are asked to make tough decision with new clear "right" answer and yes sometimes those direction choices go wrong, but to replace leadership skills and accountability with consensus voting will surely cripple decision making.
Why are opinion polls a bad decision-making tool?
1. The masses are often wrong
Innovators and leaders ride the cutting edge and strive to accomplish the impossible. They push for excellence and have the capacity to take measured risks for their organizations. Majority voting is usually a middle of the road, slow processes that doesn't drive risk, innovation or aggressive growth. There is no one driving at all, only a bus full of people trying to agree where they want to go. Organizations need a bus driver who knows the destination, the path to reach that destination and takes the responsibility of getting the bus there safely.
2. Diversity of thinking
Typically, when we talk about diversity in the workplace we talk about race or ethnicity. The diversity I am referring to is diversity of ideology. Our country is more fractured in ideology than ever before. Religions are splitting apart because of passionate ideology, work force divides are occurring because of different ideology, and special interest groups are growing rapidly, each with a passionate voice about their cause. Should any of these ideologies be ignored? Not at all, in fact, they should all be considered by the leader responsible for the organization.
Without a leader to distill this information into a workable plan, the factions within organizations each try so hard to prove their own point, chaos rules and firm direction never comes together.
There is no substitute for effective leadership to provide a sound direction and strategic plan with clearly states goals and objectives. To accomplish this someone must be in charge and take the forefront of the effort. Let's not confuse anecdotal information gathered from opinion polls for sound decision-making.
The pitfall of overuse of opinion polls is not only the rash of meaningless numbers produced but it sets a tone of that is how decisions should be made.
Executives and people in positions of authority, ostensibly our leaders, are people who possess the ability to gather information and make decisions based on the analysis of that information. They are the people who have visions and plans to lead their organizations toward better performance, market share and profitability. If they succeed they should be handsomely rewarded.
If they fail, they should be removed from office. Leaders are asked to make tough decision with new clear "right" answer and yes sometimes those direction choices go wrong, but to replace leadership skills and accountability with consensus voting will surely cripple decision making.
Why are opinion polls a bad decision-making tool?
1. The masses are often wrong
Innovators and leaders ride the cutting edge and strive to accomplish the impossible. They push for excellence and have the capacity to take measured risks for their organizations. Majority voting is usually a middle of the road, slow processes that doesn't drive risk, innovation or aggressive growth. There is no one driving at all, only a bus full of people trying to agree where they want to go. Organizations need a bus driver who knows the destination, the path to reach that destination and takes the responsibility of getting the bus there safely.
2. Diversity of thinking
Typically, when we talk about diversity in the workplace we talk about race or ethnicity. The diversity I am referring to is diversity of ideology. Our country is more fractured in ideology than ever before. Religions are splitting apart because of passionate ideology, work force divides are occurring because of different ideology, and special interest groups are growing rapidly, each with a passionate voice about their cause. Should any of these ideologies be ignored? Not at all, in fact, they should all be considered by the leader responsible for the organization.
Without a leader to distill this information into a workable plan, the factions within organizations each try so hard to prove their own point, chaos rules and firm direction never comes together.
There is no substitute for effective leadership to provide a sound direction and strategic plan with clearly states goals and objectives. To accomplish this someone must be in charge and take the forefront of the effort. Let's not confuse anecdotal information gathered from opinion polls for sound decision-making.
Wednesday, March 25, 2009
What Are You Overcomplicating?
During the space race of the sixties NASA needed a pen that would write in zero-gravity so their astronauts could take notes and keep records while in space. Since pen technology is based on a gravity feed of ink to the point, NASA spent a million dollars (in 1960's dollars) to design a pen that would work in zero-gravity. What did the cosmonauts use in space? A pencil.
Sometimes I see businesses overcomplicate simple matters and spend hours in meetings agonizing over issues because they are usually focusing on the wrong question. The question wasn't what pen can write in zero-gravity, the question was how can an astronaut write in space?
What are the questions your leadership team is spending hours of meeting time on, that might be the wrong question?
Are you agonizing and focusing on how and where to trim expenses and labor or are you looking for innovative ways to find more sales to keep you from having to make those layoffs?
Are you asking questions like, "Why did this happen and who is responsible?" Or are you asking, "How can we solve this problem and prevent it from happening again?"
Look at the issues you are facing and trying to address. Which ones are you overcomplicating? You probably can save your organization thousands of dollars and hundreds of man hours by doing this one thing today.
Sometimes I see businesses overcomplicate simple matters and spend hours in meetings agonizing over issues because they are usually focusing on the wrong question. The question wasn't what pen can write in zero-gravity, the question was how can an astronaut write in space?
What are the questions your leadership team is spending hours of meeting time on, that might be the wrong question?
Are you agonizing and focusing on how and where to trim expenses and labor or are you looking for innovative ways to find more sales to keep you from having to make those layoffs?
Are you asking questions like, "Why did this happen and who is responsible?" Or are you asking, "How can we solve this problem and prevent it from happening again?"
Look at the issues you are facing and trying to address. Which ones are you overcomplicating? You probably can save your organization thousands of dollars and hundreds of man hours by doing this one thing today.
Tuesday, March 24, 2009
What Am I Doing Here?
Have you ever stopped to ask yourself that question? It seems with the world spinning at such a faster pace, we lose days, weeks, months and sometimes we lose years and look up and realize its already one quarter deep into 2009. Anyone else remember Y2K like it was yesterday?
What am I doing here -- at work?
Inertia can keep you in jobs you no longer are suited for and you find yourself simply going through the paces from day to day. You may not have noticed your robotic pace but I'm sure your employees have. If you feel you are sleepwalking doing the same routine, you need to really address this question. If you are dreading Mondays and begging for the weekend to get here in a hurry (as I talked about in yesterday's blog) you need to ask yourself this question.
If you are not feeling that you are performing meaningful work or realize you are not making great efforts to inspire your employees in these turbulent economic times, then the question really fits: What are you doing?
What am I doing here -- with my family?
If you were a workaholic before this recession, you are an ever greater workaholic now and the stress meter is about to hit the bell at the top. Think your family has seen a difference in your behavior? Think the work stress is spilling over into your family? Stop. Think. What are you doing here? Under stressful working conditions, domestic violence increased, depression increases and family tensions can seriously increase as well.
Sure money is tight, but some solid family time or a road trip can do wonders for getting away from the stress. Turn off the phone, leave the laptop at home and put the watch in the suitcase and take a four days trip to a fav spot you and your family can drive to, and enjoy some relaxing family time. I hear it from executives far too many times how they sacrifice family for the sake of occupational achievement. Now is the time to question your behaviors and time demands, and move the family to the front of the priority list.
What am I doing here -- with my body?
Anyone else a stress eater? Anyone else already lost that New Year's resolution of hitting the gym at least three times a week? Anyone having a difficult time getting a good night's sleep? Stress will tax your body and sap your energy. In addition to that, when we are stressed we eat poorly and on the run, exercise takes a backseat and we get to bed late trying to entertain ourselves with late TV and then toss through the night dreaming of work. Ask yourself, "What am I doing here?"
Now more than ever is the time to grab some discipline in these health areas. I know in my case I need an accountability partner and about three or four exercise buddies. Because we all travel at least a couple of us can get together. If I am meeting someone I will be there for sure. If I am on my own, that snooze button looks too good and then hitting the drive thru for breakfast starts the whole bad cycle once again. What are the body maintenance habits you need to shift today?
If you never stop to ask the important question of "What am I doing here?" You will never make the necessary changes to keep you traveling the right path for your life.
Being sidetracked can be subtle and suddenly two years down that wrong path you realize how far off you are. Add this question to your weekly routine, and constantly search for your success path.
What am I doing here -- at work?
Inertia can keep you in jobs you no longer are suited for and you find yourself simply going through the paces from day to day. You may not have noticed your robotic pace but I'm sure your employees have. If you feel you are sleepwalking doing the same routine, you need to really address this question. If you are dreading Mondays and begging for the weekend to get here in a hurry (as I talked about in yesterday's blog) you need to ask yourself this question.
If you are not feeling that you are performing meaningful work or realize you are not making great efforts to inspire your employees in these turbulent economic times, then the question really fits: What are you doing?
What am I doing here -- with my family?
If you were a workaholic before this recession, you are an ever greater workaholic now and the stress meter is about to hit the bell at the top. Think your family has seen a difference in your behavior? Think the work stress is spilling over into your family? Stop. Think. What are you doing here? Under stressful working conditions, domestic violence increased, depression increases and family tensions can seriously increase as well.
Sure money is tight, but some solid family time or a road trip can do wonders for getting away from the stress. Turn off the phone, leave the laptop at home and put the watch in the suitcase and take a four days trip to a fav spot you and your family can drive to, and enjoy some relaxing family time. I hear it from executives far too many times how they sacrifice family for the sake of occupational achievement. Now is the time to question your behaviors and time demands, and move the family to the front of the priority list.
What am I doing here -- with my body?
Anyone else a stress eater? Anyone else already lost that New Year's resolution of hitting the gym at least three times a week? Anyone having a difficult time getting a good night's sleep? Stress will tax your body and sap your energy. In addition to that, when we are stressed we eat poorly and on the run, exercise takes a backseat and we get to bed late trying to entertain ourselves with late TV and then toss through the night dreaming of work. Ask yourself, "What am I doing here?"
Now more than ever is the time to grab some discipline in these health areas. I know in my case I need an accountability partner and about three or four exercise buddies. Because we all travel at least a couple of us can get together. If I am meeting someone I will be there for sure. If I am on my own, that snooze button looks too good and then hitting the drive thru for breakfast starts the whole bad cycle once again. What are the body maintenance habits you need to shift today?
If you never stop to ask the important question of "What am I doing here?" You will never make the necessary changes to keep you traveling the right path for your life.
Being sidetracked can be subtle and suddenly two years down that wrong path you realize how far off you are. Add this question to your weekly routine, and constantly search for your success path.
Monday, March 23, 2009
Time to Amp Up
I hear people still talking about dreading Mondays and pining away for the weekends. These are the lazy attitudes that the swollen economic times of the 90's infected executives with. Even with a lazy start to the week on Mondays and an early tail out to the week on Fridays companies still made profits and executives and sales people still made good bonuses and commissions.
Those times are gone, and the attitudes bred during those "easy" times need to be gone with them. If you are an executive and dread Mondays and likes to kick back on Fridays, you have three choices in front of you.
1. Stay in the same groove.
What was once a groove in great economic times is not a rut. While businesses are fighting for every ounce of sales they can get, the slide in and slide out attitude at work will only put those organizations led by this attitude further behind the competition and further away from recovery. Many businesses that are closing or going bankrupt are suffering under the weight of such malaise and using the excuse of "the economy." Ever wonder why some business in an industry are going under while others in the industry are doing just fine in the same economy? It's not the economy; it's the difference between who is in the rut of lazy attitudes and who is working harder than ever before.
2. Bail out
The bailout I mean here is not a stimulus package, it's leaving and bailing on the organization. Before anyone reading this feels executives abandoning a company during these challenging times is a wimp, it can be the best thing a person can do for the survival of the entity. In some cases, it's a retirement that should've happened years ago. I see this to be the case in many family-owned businesses. The vigor to grow the business left over a decade ago but it was easy to coast and enjoy the fruits of prior hard work. But now, the energy and the passion just isn't as intense as it was when they first started the business, so now it's time to turn it over to the next generation of family members who have the energy and the passion to fight the good fight.
In some cases, yes, executives are taking their golden parachute and heading off to retirement land. Bully for them and don't let the door hit ya where the Good Lord split ya. You don't need them anymore and you want them gone; as that person has gone from the ship's captain to the dragging anchor.
3. Reinvigorate for the battle
Once upon a time NFL training camp and Major League Baseball spring training were designed to knock off the rust of players who had been sitting around for months off season. These pre-season times were designed to get players back in shape ready to play when it counts. In today's high priced, high profile games athletes know they will lose their positions and therefore millions of dollars if they are not focused on their conditioning 12 months a year. That is how the game has shifted and that is how business is shifting. No longer are their low key days of the week. No longer is there a seasonal best effort.
To stay competitive means full bore effort and attitude every day of the work week, including Monday and Friday. I've started the terminology as a reminder to myself to make Mondays -- Make Money Monday, and Fridays are now Kick Ass Fridays. Because the team that quits in the closing minutes of a close game always loses. Be a winner!
Those times are gone, and the attitudes bred during those "easy" times need to be gone with them. If you are an executive and dread Mondays and likes to kick back on Fridays, you have three choices in front of you.
1. Stay in the same groove.
What was once a groove in great economic times is not a rut. While businesses are fighting for every ounce of sales they can get, the slide in and slide out attitude at work will only put those organizations led by this attitude further behind the competition and further away from recovery. Many businesses that are closing or going bankrupt are suffering under the weight of such malaise and using the excuse of "the economy." Ever wonder why some business in an industry are going under while others in the industry are doing just fine in the same economy? It's not the economy; it's the difference between who is in the rut of lazy attitudes and who is working harder than ever before.
2. Bail out
The bailout I mean here is not a stimulus package, it's leaving and bailing on the organization. Before anyone reading this feels executives abandoning a company during these challenging times is a wimp, it can be the best thing a person can do for the survival of the entity. In some cases, it's a retirement that should've happened years ago. I see this to be the case in many family-owned businesses. The vigor to grow the business left over a decade ago but it was easy to coast and enjoy the fruits of prior hard work. But now, the energy and the passion just isn't as intense as it was when they first started the business, so now it's time to turn it over to the next generation of family members who have the energy and the passion to fight the good fight.
In some cases, yes, executives are taking their golden parachute and heading off to retirement land. Bully for them and don't let the door hit ya where the Good Lord split ya. You don't need them anymore and you want them gone; as that person has gone from the ship's captain to the dragging anchor.
3. Reinvigorate for the battle
Once upon a time NFL training camp and Major League Baseball spring training were designed to knock off the rust of players who had been sitting around for months off season. These pre-season times were designed to get players back in shape ready to play when it counts. In today's high priced, high profile games athletes know they will lose their positions and therefore millions of dollars if they are not focused on their conditioning 12 months a year. That is how the game has shifted and that is how business is shifting. No longer are their low key days of the week. No longer is there a seasonal best effort.
To stay competitive means full bore effort and attitude every day of the work week, including Monday and Friday. I've started the terminology as a reminder to myself to make Mondays -- Make Money Monday, and Fridays are now Kick Ass Fridays. Because the team that quits in the closing minutes of a close game always loses. Be a winner!
Friday, March 20, 2009
10 Ideas to Make Today a Kick Ass Friday
1. Embrace the day and stop saying, "I'm glad tomorrow is the weekend -- it's finally here."
2. Pick one project you are working on and make a focused effort to take a giant step to move that project forward.
3. Consider removing all meetings from any Friday so everyone can drive business on the last day of the work week.
4. Plan to come in Monday renewed, reinvigorated, and thrilled to tackle a new week.
5. Call a customer or client today to thank them for their business this year.
6. Make lunch count. Who do you need to take to lunch today? Client? Boss? Employee who never gets to go out for lunch?
7. Create a list of 5 things you must get done by next Friday. Go for some hard stuff.
8. Make today a no whining, no bitching, no complaint day. Ask everyone to focus on the positive.
9. Refuse to listen to the news or read a paper. Take a day off from the "News Terrorists."
10. Give your best effort until the very last minute of your work day……no coasting. THEN you can celebrate a great work week.
2. Pick one project you are working on and make a focused effort to take a giant step to move that project forward.
3. Consider removing all meetings from any Friday so everyone can drive business on the last day of the work week.
4. Plan to come in Monday renewed, reinvigorated, and thrilled to tackle a new week.
5. Call a customer or client today to thank them for their business this year.
6. Make lunch count. Who do you need to take to lunch today? Client? Boss? Employee who never gets to go out for lunch?
7. Create a list of 5 things you must get done by next Friday. Go for some hard stuff.
8. Make today a no whining, no bitching, no complaint day. Ask everyone to focus on the positive.
9. Refuse to listen to the news or read a paper. Take a day off from the "News Terrorists."
10. Give your best effort until the very last minute of your work day……no coasting. THEN you can celebrate a great work week.
Thursday, March 19, 2009
The Cost of Stress in the Workplace
The impact of stress in the workplace is a staggering $300,000,000! This is roughly $7,500 per employee, spent annually in the U.S. on stress-related compensation claims, reduced productivity, absenteeism, health insurance costs, direct medical expenses and employee turnover. Just reading that statistic can cause you stress!
When a manager decides they need to have fewer employees doing more work for the same pay in order to improve expenses because on paper this looks like a savings, when in fact, that decision is actually increasing expenses! Turnover, production errors, damage to customer relations, and sick leave cost more than what is thought to be saved by these actions.
Depression is the single most frequent cause of sick leave days and with so many short-staffed situations, the burden on the remaining workers is overwhelming, and they just shut down to about half of their capability. The top three causes of stress that management have an opportunity to correct and reduce the stress in the workforce:
1. The demands of the job
This is the greatest factor of stress in both managerial and non-managerial employees. Every organization is following the "more from less" strategy to improving the bottom line. Work loads are ever increasing beyond simply technological improvements. Many of these employment decisions are based on a short-term financial number and jobs are left vacant for extended periods of time to save money, putting the extra workload on those employees that didn't vacate.
Before reducing staff or increasing work loads on your employees, take the time to study the job. It's easy to sit in the office of the top floor of the building, look at some reports and determine you can do this with five less people. People are not machines and from my perspective companies do a better job of caring for machine maintenance than people maintenance.
2. The control staff have over how they do their work
Job security has changed in the workplace. When I first entered the workforce, job hopping, being fired or laid-off was a black mark on your career. Today it's difficult to find a person that hasn't been "down-sized" or took a new job just before being down-sized.
Look within your company and find the policies and standard procedures that create a lack of control for your employees. I still run into some managers that want a workforce with "strong backs and weak minds" so they will do what they are told and not worry about anything else. This is no longer an acceptable approach to management nor will it create the desired success.
3. The support they receive from colleagues and superiors
A large number of employees coming into our working ranks grew up in a different home environment than most of us who have been in the working world for a couple of decades. Divorce, single-parent or two full-time income parents are the norm. Studies are showing there is an increased need by children for individual recognition and support because these home environments tends to be chaotic and filled with activity yet devoid in true support. This is why the Millennial generation (born after 1980) enjoys working closely with their friends; they know they will be supported by their colleagues.
What is management doing to support employees in your organization? Support isn't just a recognition program; it's a daily event. Supporting growth, development detecting bad habits and putting a stop to them and encouraging those habits you want to be repeated -- that's support. If you've ever played competitive athletics you recognize this is typical coaching behavior. There is a reason so many successful athletes have a great relationship with their college coaches -- it was a time of development and growth and that particular coach was there to make that happen. That is support.
When a manager decides they need to have fewer employees doing more work for the same pay in order to improve expenses because on paper this looks like a savings, when in fact, that decision is actually increasing expenses! Turnover, production errors, damage to customer relations, and sick leave cost more than what is thought to be saved by these actions.
Depression is the single most frequent cause of sick leave days and with so many short-staffed situations, the burden on the remaining workers is overwhelming, and they just shut down to about half of their capability. The top three causes of stress that management have an opportunity to correct and reduce the stress in the workforce:
1. The demands of the job
This is the greatest factor of stress in both managerial and non-managerial employees. Every organization is following the "more from less" strategy to improving the bottom line. Work loads are ever increasing beyond simply technological improvements. Many of these employment decisions are based on a short-term financial number and jobs are left vacant for extended periods of time to save money, putting the extra workload on those employees that didn't vacate.
Before reducing staff or increasing work loads on your employees, take the time to study the job. It's easy to sit in the office of the top floor of the building, look at some reports and determine you can do this with five less people. People are not machines and from my perspective companies do a better job of caring for machine maintenance than people maintenance.
2. The control staff have over how they do their work
Job security has changed in the workplace. When I first entered the workforce, job hopping, being fired or laid-off was a black mark on your career. Today it's difficult to find a person that hasn't been "down-sized" or took a new job just before being down-sized.
Look within your company and find the policies and standard procedures that create a lack of control for your employees. I still run into some managers that want a workforce with "strong backs and weak minds" so they will do what they are told and not worry about anything else. This is no longer an acceptable approach to management nor will it create the desired success.
3. The support they receive from colleagues and superiors
A large number of employees coming into our working ranks grew up in a different home environment than most of us who have been in the working world for a couple of decades. Divorce, single-parent or two full-time income parents are the norm. Studies are showing there is an increased need by children for individual recognition and support because these home environments tends to be chaotic and filled with activity yet devoid in true support. This is why the Millennial generation (born after 1980) enjoys working closely with their friends; they know they will be supported by their colleagues.
What is management doing to support employees in your organization? Support isn't just a recognition program; it's a daily event. Supporting growth, development detecting bad habits and putting a stop to them and encouraging those habits you want to be repeated -- that's support. If you've ever played competitive athletics you recognize this is typical coaching behavior. There is a reason so many successful athletes have a great relationship with their college coaches -- it was a time of development and growth and that particular coach was there to make that happen. That is support.
Wednesday, March 18, 2009
Who is Your Online Expert?
Do you having a VP or director of marketing? Do you have a marketing budget for trinket giveaway, yellow pages ads and media placement either on radio, local TV or the newspaper? Are you still doing direct mail pieces in a broadcast marketing campaign?
Astoundingly, some companies are still pouring money into these failing marketing strategies. Sure there was a time when this was considered effective marketing, but the benefits here are in steep decline. When I bring this up with executives I usually get someone push back saying, "We had a customer just the other day tell me they saw the ad on the paper." No one said this marketing was dead, but it is dying quickly.
For people under the age of 40 a phonebook is a relic, like the VCR and gas station attendants. TV ads are avoided and even the "best" ones have minimal impact these days. So how do you get your message out? Do you get rid of your marketing director since I'm telling you marketing is not working? Not at all. In fact you need to add to the marketing department a critical player -- The Online expert.
Simply having a website is not having a presence on the web no more than owning one share of stock makes you a meaningful owner of the company. The internet has become a complicated marketing place where the majority of companies don't understand how to navigate it to the greatest benefit of the organization.
It's past time to have a dedicated staff to working on search engine optimization, building a presence on social networks, creating blogs and alternative specialized websites. This is a new age of marketing that is overwhelming the status quo. Video presentations, video interviews and video job postings as well as creative "commercials" are required for the company who wants to stand above the advertising noise.
If you don't own the entire front page of a Google search for your industry or products, you have work left to do. Get the expert to show you the way, and be sure to get out of the expert's way, because this is a whole new ball game.
Astoundingly, some companies are still pouring money into these failing marketing strategies. Sure there was a time when this was considered effective marketing, but the benefits here are in steep decline. When I bring this up with executives I usually get someone push back saying, "We had a customer just the other day tell me they saw the ad on the paper." No one said this marketing was dead, but it is dying quickly.
For people under the age of 40 a phonebook is a relic, like the VCR and gas station attendants. TV ads are avoided and even the "best" ones have minimal impact these days. So how do you get your message out? Do you get rid of your marketing director since I'm telling you marketing is not working? Not at all. In fact you need to add to the marketing department a critical player -- The Online expert.
Simply having a website is not having a presence on the web no more than owning one share of stock makes you a meaningful owner of the company. The internet has become a complicated marketing place where the majority of companies don't understand how to navigate it to the greatest benefit of the organization.
It's past time to have a dedicated staff to working on search engine optimization, building a presence on social networks, creating blogs and alternative specialized websites. This is a new age of marketing that is overwhelming the status quo. Video presentations, video interviews and video job postings as well as creative "commercials" are required for the company who wants to stand above the advertising noise.
If you don't own the entire front page of a Google search for your industry or products, you have work left to do. Get the expert to show you the way, and be sure to get out of the expert's way, because this is a whole new ball game.
Tuesday, March 17, 2009
The Dilemma of Tough Choices
As AIG gets caught in the media blender, once again they are faced with choices that are no win situations. Do they ignore contracts and then face the legal battle of not paying contracted bonuses or do they fulfill contractual obligations and get hammered by a governing body that is looking for an example to hang from the yardarm for all to witness?
As a leader of business organizations you are going to be faced with choice dilemmas that appear to have no winning option. When faced with such options make a selection and defend your choice. The heat will be on and the rush to judgment will be swift and most likely misinformed. But making tough choices comes with the territory.
Do I think AIG should pay those bonuses? The contracts should be honored otherwise they are imitating the home owners who are not honoring their mortgage contracts by not paying and fulfilling their obligations. Should such non-performance based contracts even exist? Absolutely not! And this is the advantage of such economic corrections we are living through. Such times force organization to review behaviors that have gone astray in boom times and make corrections for better business practices.
In some cases, business with egregiously bad business practices pay by going under. Some get a second chance to correct their mistakes. Enron wasn't so lucky, let's hope AIG recognizes their errors and rebounds.
I know this country appears to be out for blood and a pound of flesh from bailout corporate executives. We as the American public have a choice dilemma of our own. Do we castigate these leaders and tear them up every chance we get, or do we assist them in correcting the course as fast as possible so we all can benefit from a renewed economy? We gain nothing in economic recovery with executive bashing even though we may feel better doing so. We need to make the choice where we all benefit from renewed economic strength.
Ask yourself: Does it make sense to abuse those who we want to lead us out of the recession? Will they deliver their best efforts this way? It's time this country get solutions-focused and let go of the blame-focus, so we can move ahead. It is often said the reason people who are miserable, are in fact miserable because they are more comfortable in that state of mind. The longer we are miserable the less likely we are driven to get beyond it. Leaders set the tone for finding solutions and now is the time to look ahead instead of looking how we got here.
As a leader of business organizations you are going to be faced with choice dilemmas that appear to have no winning option. When faced with such options make a selection and defend your choice. The heat will be on and the rush to judgment will be swift and most likely misinformed. But making tough choices comes with the territory.
Do I think AIG should pay those bonuses? The contracts should be honored otherwise they are imitating the home owners who are not honoring their mortgage contracts by not paying and fulfilling their obligations. Should such non-performance based contracts even exist? Absolutely not! And this is the advantage of such economic corrections we are living through. Such times force organization to review behaviors that have gone astray in boom times and make corrections for better business practices.
In some cases, business with egregiously bad business practices pay by going under. Some get a second chance to correct their mistakes. Enron wasn't so lucky, let's hope AIG recognizes their errors and rebounds.
I know this country appears to be out for blood and a pound of flesh from bailout corporate executives. We as the American public have a choice dilemma of our own. Do we castigate these leaders and tear them up every chance we get, or do we assist them in correcting the course as fast as possible so we all can benefit from a renewed economy? We gain nothing in economic recovery with executive bashing even though we may feel better doing so. We need to make the choice where we all benefit from renewed economic strength.
Ask yourself: Does it make sense to abuse those who we want to lead us out of the recession? Will they deliver their best efforts this way? It's time this country get solutions-focused and let go of the blame-focus, so we can move ahead. It is often said the reason people who are miserable, are in fact miserable because they are more comfortable in that state of mind. The longer we are miserable the less likely we are driven to get beyond it. Leaders set the tone for finding solutions and now is the time to look ahead instead of looking how we got here.
Monday, March 16, 2009
Expect the Amazing, If You Are Properly Prepared
I've been doing strategic planning for years. Working with executives and boards of directors can be challenging, inspiring, frustrating, exasperating and unbelievably rewarding. Sometimes even in the same process!
Saturday I met with a wonderful on-going client on a planning retreat. To the credit of the CEO she trusted me to implement my new Fast Forward Strategic Planning process and the step up in the workload, time commitment and effort from her managerial team was going to be extensive, yet she allowed me to take them on this ride. After hundreds of hours invested by her team it was time to present to their work to the board.
This board has been very typical of boards in this industry: conservative, steady and somewhat of a micromanager. What we were presenting was going to require a real step out for the board to embrace change, embrace a potential shift in direction and to rise to the challenge to pick up the pace significantly and move forward fast.
With the support of statistical data, the proper presentation of "scary" ideas and the gentle support of the management team the board were presented an aggressive new type of planning proposal. Prepared for battle the management team waited for the rebuttal. An amazing thing happened! The board of directors (average age of 64) not only didn't offer rebuttal but galloped ahead of the management team in talking about change. The managerial amazement was palpable! How did this happen?
1. Proper preparation
To create great shift requires the absolute right approach. The management team spent those hundreds of hours gather information, discussing the possibilities, the competition and the direction they knew they needed to go. Statistical information as well as a thorough market analysis can make the unknown easily understood.
2. The Compelling Argument
When trying to lead change it is critical to develop what I call the compelling argument. Paint the picture so it's easily understood and points the direction the organization must go to thrive in this new economy and intelligent board members will be able to easily embrace the concept. Hammering home tough ideas will only create resistance and eventually dissolve into taking sides where no one wins (See Congress.)
By taking the time to create the compelling argument, questions can be asked, critical data clarified and the coming together of the proper direction evolves throughout the discussion.
3. Get commitment
Throughout the presentation to the board I constantly asked for them to offer agreement or opposition verbally. If they oppose, we have more discussion and clarity of our differences. If they agree, this becomes a type of commitment and contract with themselves based on the information they possess at the time. I also think the managerial team needed to hear in the words of the board members that they supported this new managerial-driven direction and were ready to participate in making it happen. Once the verbal commitment is in the air it lends more stability to that commitment. Does that mean there isn't back-sliding? Not at all, but it does create a firmer foundation to return to as the process of change is hopefully more forward than backward, but steps in both direction are natural.
This process works, and I tip my hat to the management team of my client for their hard work and effort. I also tip my hat to the board of directors of this organization for not only supporting change, but actually jumping in front to lead the charge. I wish all my clients could be such a class act.
Saturday I met with a wonderful on-going client on a planning retreat. To the credit of the CEO she trusted me to implement my new Fast Forward Strategic Planning process and the step up in the workload, time commitment and effort from her managerial team was going to be extensive, yet she allowed me to take them on this ride. After hundreds of hours invested by her team it was time to present to their work to the board.
This board has been very typical of boards in this industry: conservative, steady and somewhat of a micromanager. What we were presenting was going to require a real step out for the board to embrace change, embrace a potential shift in direction and to rise to the challenge to pick up the pace significantly and move forward fast.
With the support of statistical data, the proper presentation of "scary" ideas and the gentle support of the management team the board were presented an aggressive new type of planning proposal. Prepared for battle the management team waited for the rebuttal. An amazing thing happened! The board of directors (average age of 64) not only didn't offer rebuttal but galloped ahead of the management team in talking about change. The managerial amazement was palpable! How did this happen?
1. Proper preparation
To create great shift requires the absolute right approach. The management team spent those hundreds of hours gather information, discussing the possibilities, the competition and the direction they knew they needed to go. Statistical information as well as a thorough market analysis can make the unknown easily understood.
2. The Compelling Argument
When trying to lead change it is critical to develop what I call the compelling argument. Paint the picture so it's easily understood and points the direction the organization must go to thrive in this new economy and intelligent board members will be able to easily embrace the concept. Hammering home tough ideas will only create resistance and eventually dissolve into taking sides where no one wins (See Congress.)
By taking the time to create the compelling argument, questions can be asked, critical data clarified and the coming together of the proper direction evolves throughout the discussion.
3. Get commitment
Throughout the presentation to the board I constantly asked for them to offer agreement or opposition verbally. If they oppose, we have more discussion and clarity of our differences. If they agree, this becomes a type of commitment and contract with themselves based on the information they possess at the time. I also think the managerial team needed to hear in the words of the board members that they supported this new managerial-driven direction and were ready to participate in making it happen. Once the verbal commitment is in the air it lends more stability to that commitment. Does that mean there isn't back-sliding? Not at all, but it does create a firmer foundation to return to as the process of change is hopefully more forward than backward, but steps in both direction are natural.
This process works, and I tip my hat to the management team of my client for their hard work and effort. I also tip my hat to the board of directors of this organization for not only supporting change, but actually jumping in front to lead the charge. I wish all my clients could be such a class act.
Friday, March 13, 2009
The Foundation of Success is Confidence
Lance Armstrong is a winner, no doubting that. Warren Buffet is an investment success story without question. Steve Jobs has successfully created businesses that achieve greatness. Was it just luck these individuals perform at the highest levels of their chosen professions? Was it a special mental gift they possess no one else has?
There is no doubting these three successful men have special talents that helped them to succeed, but the one common trait I see in successful leaders, these three included, is confidence. I've heard people respond to this notion with, "Well if I had won 7 Tour de France races, was worth billions of dollars, or owned all of the music known to man I could sell for a dollar a song, I'd be confident too!"
Which do you think came first the confidence or the success?
To fully achieve success one must possess the confidence to first believe it can happen, and then have additional confidence to make it happen. Consider the general attitude in this country right now. If you believe the press this country is in doom and gloom with no end in sight. That is the easy mental option; just cave in to the pressure and roll over until it passes. Sadly, many businesses are responding in exactly that fashion. How are you responding?
Remember the leader is the one who sets the expectation the rest of the management team will follow. Are you leading from a position of strength?
Confidence means being able to look at the bad news, accept it as is, and devise a plan to overcome it. Confidence means the leader is commitment and convinced the organization he or she leads will emerge from this recession even better than when they entered the recession. Confidence is having the strength to make the necessary efforts to operate a business in spite of the negative news surrounding them. Leaders who are confident see the proper steps to take in order to be stronger, faster and more profitable.
There is a significant difference between the confidence to make the right decisions and the bravado to try and convince people the decisions made were right. Without any research to support this opinion other than personal observation over the last 25 years in business, I believe those who have the confidence to make proper business decisions frequently make the exact right decision. Conversely, it is also my observation that the manager who is insecure and lacks true confidence regardless of the amount of bluster and bravado they spew seems to possess the innate ability to most often select the wrong decision.
It isn't a curious coincidence that successful people are confident in what they do, it is essential they have that confidence to achieve that success.
There is no doubting these three successful men have special talents that helped them to succeed, but the one common trait I see in successful leaders, these three included, is confidence. I've heard people respond to this notion with, "Well if I had won 7 Tour de France races, was worth billions of dollars, or owned all of the music known to man I could sell for a dollar a song, I'd be confident too!"
Which do you think came first the confidence or the success?
To fully achieve success one must possess the confidence to first believe it can happen, and then have additional confidence to make it happen. Consider the general attitude in this country right now. If you believe the press this country is in doom and gloom with no end in sight. That is the easy mental option; just cave in to the pressure and roll over until it passes. Sadly, many businesses are responding in exactly that fashion. How are you responding?
Remember the leader is the one who sets the expectation the rest of the management team will follow. Are you leading from a position of strength?
Confidence means being able to look at the bad news, accept it as is, and devise a plan to overcome it. Confidence means the leader is commitment and convinced the organization he or she leads will emerge from this recession even better than when they entered the recession. Confidence is having the strength to make the necessary efforts to operate a business in spite of the negative news surrounding them. Leaders who are confident see the proper steps to take in order to be stronger, faster and more profitable.
There is a significant difference between the confidence to make the right decisions and the bravado to try and convince people the decisions made were right. Without any research to support this opinion other than personal observation over the last 25 years in business, I believe those who have the confidence to make proper business decisions frequently make the exact right decision. Conversely, it is also my observation that the manager who is insecure and lacks true confidence regardless of the amount of bluster and bravado they spew seems to possess the innate ability to most often select the wrong decision.
It isn't a curious coincidence that successful people are confident in what they do, it is essential they have that confidence to achieve that success.
Thursday, March 12, 2009
Executives: Untaint yourself and really talk with your employees
Trust in corporate leaders is at an all time low. The legacy of the Madoff scandal, the bank failures and the Big Three auto CEOs stumbling over themselves begging for money, as well as this administrations bull's eye on executive off-site meetings, have caused the masses to be convinced corporate leadership is tainted and the enemy.
Those of us who are either in those executive positions or serve those executives knows the vast majority of business owners, CEOs and presidents are great people who truly are good leaders and can be totally trusted.
As a business leader how do you prevent being painted with the broad brush of cynicism? Transparency.
1. Regularly call a full staff meetings or if you organization is too large for that; create a video for them to watch on your website. In this meeting or video come clean with all information; the positive and the not so great. Make sure your presentation is low on BS spin control, (that is what created the distrust in the first place) and high on genuine content and commitment.
2. Focus your information on how you are working to grow the company and how you are creating the plans to make it happen. Sure things change and executives are used to plenty of wiggle room but not is the time for executives to be spot on with their actions because there isn't time nor room for too many wiggle mistakes. Step up and take the pressure -- that is how you should operate at your best anyhow.
3. Conclude the information session be answering employee questions. Give your employees the opportunity to submit questions to you. Sure you get to pick and choose and you can avoid the lunatic ones, such as, "Tell me why you can't give every employee bailout packages so we can be happy?" But don't avoid the hard questions. If you only answer the softball questions you will only fuel the cynicism. Take the tough questions and give tough answers. By doing this as frequently as you see necessary (minimum once a month) you build your credibility in the workforce, you continue the growth culture and you prove that you are not one of the bad guys.
Sure, this will take some time, but your consistency of honesty and sincerity along with important information will keep your employees listening, and if they are listening, they are giving you the benefit of the doubt. In these critical economic times you want to be able to be heard and trusted. This will be a great step in making that happen.
Those of us who are either in those executive positions or serve those executives knows the vast majority of business owners, CEOs and presidents are great people who truly are good leaders and can be totally trusted.
As a business leader how do you prevent being painted with the broad brush of cynicism? Transparency.
1. Regularly call a full staff meetings or if you organization is too large for that; create a video for them to watch on your website. In this meeting or video come clean with all information; the positive and the not so great. Make sure your presentation is low on BS spin control, (that is what created the distrust in the first place) and high on genuine content and commitment.
2. Focus your information on how you are working to grow the company and how you are creating the plans to make it happen. Sure things change and executives are used to plenty of wiggle room but not is the time for executives to be spot on with their actions because there isn't time nor room for too many wiggle mistakes. Step up and take the pressure -- that is how you should operate at your best anyhow.
3. Conclude the information session be answering employee questions. Give your employees the opportunity to submit questions to you. Sure you get to pick and choose and you can avoid the lunatic ones, such as, "Tell me why you can't give every employee bailout packages so we can be happy?" But don't avoid the hard questions. If you only answer the softball questions you will only fuel the cynicism. Take the tough questions and give tough answers. By doing this as frequently as you see necessary (minimum once a month) you build your credibility in the workforce, you continue the growth culture and you prove that you are not one of the bad guys.
Sure, this will take some time, but your consistency of honesty and sincerity along with important information will keep your employees listening, and if they are listening, they are giving you the benefit of the doubt. In these critical economic times you want to be able to be heard and trusted. This will be a great step in making that happen.
Wednesday, March 11, 2009
It's Good to Be Different -- In Fact, It's Essential
My parents used to try to get me to act just like every one else so I would fit in. Companies today are following the same philosophy. Whether you are talking as an individual or as a company, nothing could be further from what is best for you: Be unique.
Today price-driven economy has everyone falling into a commodity market where no one wins because price competition drives down all profits. To fly above the noise you have to create the unique difference that sets you apart from the competition and places your company in the first position in the minds of your customers. The brand most recognized in any industry outsells positions 2 and 3 combined. People will seek out the first company that comes to mind 99.2% of the time.
With those kinds of statistics you have to spend time thinking creatively to find the differentiators.
Ford Motor Company asked input from the creator of the concept of lateral thinking Edward de Bono. Lateral thinking is a type of structured brainstorming to find the creative ideas that are more on the mark than simple free-form brainstorming. Ford wanted him to suggest some ideas on how to differentiate themselves in the auto industry.
Ford had approached the problem of competing for customers by asking the question, "How can we make our cars more attractive to consumers?" De Bono offered a concept from a completely different direction. He asked the question, "How can we make the whole driving experience better for Ford customers?" He offered the suggestion that Ford should buy up parking lots and garages in all the major city centers and make them available for Ford cars only. What a great unique idea! However, his remarkable idea was too radical for Ford because they saw themselves as a vehicle manufacturer not a car lot owner.
"In times of rapid change, experience can be your worst enemy." J. Paul Getty
How can you take a view of your organization from different angles? What are the ways to position your organization at the top of your customers mind? The more you learn to think ahead of the rest of the industry the more your organization will be the industry leader.
Today price-driven economy has everyone falling into a commodity market where no one wins because price competition drives down all profits. To fly above the noise you have to create the unique difference that sets you apart from the competition and places your company in the first position in the minds of your customers. The brand most recognized in any industry outsells positions 2 and 3 combined. People will seek out the first company that comes to mind 99.2% of the time.
With those kinds of statistics you have to spend time thinking creatively to find the differentiators.
Ford Motor Company asked input from the creator of the concept of lateral thinking Edward de Bono. Lateral thinking is a type of structured brainstorming to find the creative ideas that are more on the mark than simple free-form brainstorming. Ford wanted him to suggest some ideas on how to differentiate themselves in the auto industry.
Ford had approached the problem of competing for customers by asking the question, "How can we make our cars more attractive to consumers?" De Bono offered a concept from a completely different direction. He asked the question, "How can we make the whole driving experience better for Ford customers?" He offered the suggestion that Ford should buy up parking lots and garages in all the major city centers and make them available for Ford cars only. What a great unique idea! However, his remarkable idea was too radical for Ford because they saw themselves as a vehicle manufacturer not a car lot owner.
"In times of rapid change, experience can be your worst enemy." J. Paul Getty
How can you take a view of your organization from different angles? What are the ways to position your organization at the top of your customers mind? The more you learn to think ahead of the rest of the industry the more your organization will be the industry leader.
Tuesday, March 10, 2009
Offer New Benefits for the Information Age
To keep up with employee shifts and changing needs, employers have looked for ways to offer new and different benefits. Some of them became government mandated and some of them corporately created. Today, as fast as the world is changing so must employee benefits.
One of the greatest complaints of employers is the cost of benefits now that medical has become the monster in the benefit room. What can organizations do to serve employees without breaking the bank? Join the information age.
Next Gen employees are information junkies and they have many information needs a corporation can meet with minimal cost.
Companies need to make available free podcasts or online self-study seminars for employees on among other things finances, wellness, marriage, and family. These are not those black and white movies from the 50's on how to be a happy homemaker. This is raw information where employees can learn how to better manage finances especially in these economic times.
Wellness programs start with the mental side of dealing with stress, dealing with family issues and dealing with the scary times for those just beginning their work careers in today's economy. Bosses are not the experts on these topics and sending employees to a one day, one size fits all seminar holds little value. Informational downloads can be appreciated at the employees leisure.
Not only will this offer new benefits to meet employee needs but it creates a culture of personal growth which is a great work culture that will foster organizational growth because the growth mindset has been established. Help the employees with their educational and informational needs and help your company create a culture of growth in the process.
One of the greatest complaints of employers is the cost of benefits now that medical has become the monster in the benefit room. What can organizations do to serve employees without breaking the bank? Join the information age.
Next Gen employees are information junkies and they have many information needs a corporation can meet with minimal cost.
Companies need to make available free podcasts or online self-study seminars for employees on among other things finances, wellness, marriage, and family. These are not those black and white movies from the 50's on how to be a happy homemaker. This is raw information where employees can learn how to better manage finances especially in these economic times.
Wellness programs start with the mental side of dealing with stress, dealing with family issues and dealing with the scary times for those just beginning their work careers in today's economy. Bosses are not the experts on these topics and sending employees to a one day, one size fits all seminar holds little value. Informational downloads can be appreciated at the employees leisure.
Not only will this offer new benefits to meet employee needs but it creates a culture of personal growth which is a great work culture that will foster organizational growth because the growth mindset has been established. Help the employees with their educational and informational needs and help your company create a culture of growth in the process.
Monday, March 9, 2009
Establish a manager growth program -- build the knowledge base
I am hearing from some executives that growth in this economy just isn't going to happen in their industry so what can they do to maintain the growth mentality in the organization? If you are in one of those industries that are significantly stagnant you must maintain the growth culture in other ways, such as knowledge growth, specifically in your managers.
The managers are going to always set the tone for the rest of the employees, whether it is a positive outlook, a negative outlook or a growth outlook. In order to keep your managers fresh, keep them growing and keep them in the right frame of mind, provide a book study that will improve their skills.
I've had a number of clients in the finance industry this year order my Russell's Rules book for their managers to study and discuss in their weekly meetings. The rules are short, simple, to the point and have implementation action steps that are easy to do. By using practical application leadership books, you keep the knowledge base growing, the positive discussion active and the workforce happy with better leadership approaches being used with them.
Some basic steps for knowledge growth:
1. Make sure the book is something your managers will actually read.
I consider Peter Drucker one of the best leadership authors of all time, but unless your manager team is deep into the science of leadership and business, they will not finish a Drucker tome. Short, to the point and immediately applicable books might not make the best seller list, but your managers will make it to the back cover.
2. Have meaningful conversations about what was to be covered for the week and how these tools are going to actually be put into practice.
The discussions will allow people to offer their spin on the information and how they plan to use it. If the group truly is interested in growing on a personal level the conversation will truly be beneficial to the organization. As the executive you will also see who is making the effort to make a difference and who is going through the motions just to follow along. This information becomes your growth as you better learn who cares and who doesn't and who may be dragging down your team and who may be the best selection for your succession plan.
Reading leadership information without putting it into practice is not going to give you the return on your time investment; therefore, be sure to build in accountability to putting these things into practice.
3. Make it fun.
If this becomes a chore for your managers or an addendum to your weekly manager meetings, it will take on an air of unimportance and a necessary evil. Have fun with it, get people involved. Use the book you've selected as a way to talk about the parts of your organization you want to grow. Even when the economy isn't facilitating market growth, the growth inside the organization should always continue.
The managers are going to always set the tone for the rest of the employees, whether it is a positive outlook, a negative outlook or a growth outlook. In order to keep your managers fresh, keep them growing and keep them in the right frame of mind, provide a book study that will improve their skills.
I've had a number of clients in the finance industry this year order my Russell's Rules book for their managers to study and discuss in their weekly meetings. The rules are short, simple, to the point and have implementation action steps that are easy to do. By using practical application leadership books, you keep the knowledge base growing, the positive discussion active and the workforce happy with better leadership approaches being used with them.
Some basic steps for knowledge growth:
1. Make sure the book is something your managers will actually read.
I consider Peter Drucker one of the best leadership authors of all time, but unless your manager team is deep into the science of leadership and business, they will not finish a Drucker tome. Short, to the point and immediately applicable books might not make the best seller list, but your managers will make it to the back cover.
2. Have meaningful conversations about what was to be covered for the week and how these tools are going to actually be put into practice.
The discussions will allow people to offer their spin on the information and how they plan to use it. If the group truly is interested in growing on a personal level the conversation will truly be beneficial to the organization. As the executive you will also see who is making the effort to make a difference and who is going through the motions just to follow along. This information becomes your growth as you better learn who cares and who doesn't and who may be dragging down your team and who may be the best selection for your succession plan.
Reading leadership information without putting it into practice is not going to give you the return on your time investment; therefore, be sure to build in accountability to putting these things into practice.
3. Make it fun.
If this becomes a chore for your managers or an addendum to your weekly manager meetings, it will take on an air of unimportance and a necessary evil. Have fun with it, get people involved. Use the book you've selected as a way to talk about the parts of your organization you want to grow. Even when the economy isn't facilitating market growth, the growth inside the organization should always continue.
Friday, March 6, 2009
4 More Ways Business Can Benefit From the Recession
Businesses will make the extras effort to please customers
Your vendors are going to go the extra mile to appreciate the business you are still sending them and they are more willing than ever to work with you on special needs. Not only is this good for you as the customer of that vendor, but it gives you the chance to tighten that working relationship even more.
What are you doing special for your customers? I'm not talking discounting (actually, that is a dangerous slope to avoid if possible.) I'm talking about what customer service evaluations are you making to target areas for improvement? Where are your opportunities to create remarkable service to give your customers that "wow" experience? In the past maybe you didn't feel the need to go that extra step, but now is the perfect time to amp it up, and give customers a solid experience they will want to tell others about.
Leaders are forced to actually lead
When the economy is in good times companies can actually make money in spite of themselves. I know, I’ve had some as clients and it amazed me they were able to stay in business with all they were doing wrong. The glory economic days of the 90's elevated many companies and executives to levels they had not earned, but the wave of high consumer spending and rising markets lifted all these executives to leadership status.
Now that the economy is in a steep decline the real leaders get to show their skills and unfortunately, those who are in positions of leadership also get exposed. The recession is a great time for leaders to rise to the occasion and demonstrate the real skills that separate them from the wannabes who hold the position but not the talent. Leaders will thrive in this economy, managers will merely survive. How are you doing with your organization?
Weak competitors are weeded out from an industry
In 2001, the speaking industry was full of many people who had enjoyed a prosperous decade of the 90's and many of us wondered how some of them actually were getting paid for the quality of the work they were providing. On that fateful day in September of that year, the industry changed and hundreds of people previously known as speakers would leave the business to rejoin what I call the "check of the month club."
This economy will also remove the weaker players in all industries. Like it or not GM, Ford and Chrysler have been exposed as the weaker organizations in the global auto industry. The same is playing out in your industry. If you are one of the good companies, one of the strong companies, this recession should be welcomed news for you. Although you may be going through a bit of hardship and a pain, your weaker competition is going through shutting their doors and soon the industry will be thinned out and you will be ready to take on new customers and grab more market share.
Rally around a common cause
It has been said previously that Americans are at their best when times are at their worst. Immediately after 9/11/2001 patriotism was at a high. We rallied as a people against terrorism and made sure the terrorists didn't mentally beat down our country, especially during our darkest days.
Although, I have to say we do not seem to be as resilient as we were eight years ago, now is the time for leaders to create that same type of rally call within their organizations to band together and fight these economic times by not getting down, by not splintering into separate factions and by not getting sucked into the blame game pundits and newscaster relish.
Great leaders show their best abilities when times are the toughest. Rise to the occasion. Create more face time with your employees, talk about the good things that are going on and rally your people to call on their abilities to win in these economic times. There are going to be plenty of great business stories as we reemerge on the other side of this -- make your organization one of those great stories.
Thursday, March 5, 2009
3 Ways Business Can Benefit From the Recession
I am tired of hearing from the News Terrorists in the newspapers and on the airwaves about the constant flow of negative information.
A recession is a necessary economic event to correct bad behaviors. The reason this recession seems so harsh is because we had a tremendous amount of bad behavior going on that needed corrected. Fortunately, the good news is the bad behavior was confined to a few companies. The bad news is that those few companies are large and many are tired directly to the financial structure of this country which impacts all businesses.
If you are one of those impacted businesses who didn't cause this but are being affected by this recession you have an opportunity to capitalize on it. The following three opportunities are the steps good organizations are using during these recessionary times to actually benefit from the recession.
1. Resources have never been cheaper
So many companies are going into spending hibernation trying to survive this year. Smart business owners realize resources will never be as inexpensive as they are now and are using this opportunity to capitalize on this opportunity to retool, upgrade and properly position themselves for outrunning the competition.
2. Businesses are improving processes
In fast money times production is at full speed ahead and the money machine is printing profits.T he attitude is no time to slow down and tweak and implement major improvements, just keep the profit makers up and running. This is why a slowdown is the perfect time to make process improvements, cross train and retrain employees, and increase your organization knowledge about the business so better informed employees will be ready to serve more demanding customers.
3. Encourages innovation and creativity
As sad as it is, the cliche "If it ain't broke don't fix it" really is the way many businesses run in this country. Well my friends, it's pretty obvious the economy is broken. The way many organizations have been conducting their businesses has been broken and the results are self evident. When times are good, executives are not prone to adding more change to the organization and some laziness sets in to just ride the wave. In this economy the innovator, the organization driven for creativity, is the organization finding new and better methods of conducting all aspects of their businesses and they are the organizations who are gaining market share and growing.
Instead of going through meetings with all of the bad number reporting, instead of beating salespeople over the head to drum up sales, instead of counting the days you can hopefully make payroll, shift the attitude within your organization. The doom and gloom on the lips of too many people will not energize anyone. Talk about how this is a great opportunity to try new things, and refocus and retool. Build the excitement of the opportunity. Put those improved attitudes to work on innovation and creativity and watch your organization migrate from negative to energized as you put these ideas into action.
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