Friday, October 23, 2009

Russell's Rules #3 Change is Always Going to be a Challenge


What elements have you put in your plan to deal with resistance to change?

I've heard it said the only person who likes change is the person who came up with the new idea to begin with. Whether it's good change or bad change, people tend to resist change that is being put upon them.

In any growth strategy, build into your time frame an adjustment period. Create a strategy to facilitate that adjustment so it can be received and accepted properly.

Often, dictates come from on high, causing dramatic shifts that affect those who had no input; such a situation will always cause people to resist. Not only are they resisting the change, but they are also resisting the way it was implemented.

Just Do This…

  • Announce the change before you start the implementation.
  • Train employees to deal with the changes successfully.
  • Get input on how to make changes from the employees who will be affected.
  • Expect the change to take longer than expected -- it always does.

Thursday, October 22, 2009

7 Steps to Restoring Your Game Face


So many people are in survival mode, and they have been there for a year, it has to be so restrictive. Do you know what happens when you think a certain way for a full year? It becomes the default condition. Take these 7 steps for getting your mind back to the land of abundance and out of the slums of scarcity.

Step 1 Money is no object

When you are creating ideas there is no cost. There doesn’t need to be any financial restriction of any kind. When you focus on survival and squeezing money your mind uses that approach to idea generation as well. Let your ideas be free spending!

Step 2 Forget half empty and half full – how big is the glass?

Would you rather have a full shot glass or half empty glass the size of a museum aquarium? I want more! Focus your thinking on finding a bigger glass. I heard a business executive say something like “Well at least I have my health.” Screw that. I want a lot more than just my health. I want it all! Don’t you? Get a bigger glass.

Step 3 Work at it

Some people have it handed to them, some people are lucky, some people are gifted. Bottom line who cares how anyone else made it, you have to find your way. If people will spend the time they use to whine and complain on some focused work, they would have a lot less to whine and complain about.

Step 4 Slam it

We live in the cushiest times this country has ever seen in its history and we’ve become just as soft. We need a grinder’s mentality to just slam through our problems and issues. It has never been easier to make personal wealth for the masses than it is right now. Are you waiting and hoping or are you slamming it until you come out ahead? Give it your all.

Step 5 Know what you want

I know people who are in their mid 50’s still trying to figure out what they want to be when they grow up. Get real. Spend some time getting in touch with whom you are and make a decision on what you want to do with your life. Tick Tick.

Step 6 Now go after it

Fear is replacing courage and conviction in our mentality like a disease. When was the last time you really took a courageous stand? As soon as we start worrying about losing what we have, we no longer are looking to gain more or even maintain.

You either make dust or your eat dust. Are you a dust maker or a dust eater?

Step 7 Take no prisoners

In the age of touchy feely we are more about the group hug in business than in raw winning. The pendulum needed to swing but it has gone too far. It’s time to get gritty once again and focus on growing a business, increasing revenue and making the most profits you ethically can. It is survival of the fittest. Are you mentally equipped for what it takes to be significantly successful? Put these 7 steps to work and your business game face will return.

Wednesday, October 21, 2009

5 Leadership Attitude Choices You Must Make


Is anyone else tired of the attitudes we are seeing from some of our leaders in this country today? New isn't always better when it comes to mindsets and it is time we get some old school attitudes back in the minds of leaders to restore companies to strong growing entities.

Courage

Leaders set the tone for decision making, vision and direction of an organization. If every decision is met with a pause and question of "Is it safe?" bold moves are not going to happen. To compete in the global market, bold moves are required and yes mistakes are going to happen but waiting on someone else to lead the charge is not being a leader. Take courage in your decision making. Have the internal strength to take risk and try new things. A little reckless abandon is needed when working toward new growth and finding fresh ideas.

Confidence

I don't want a surgeon to tell me "I think I can do that operation successfully." I don't want a pilot to tell me "I am pretty sure we won't have any more technical difficulties in this flight." And I don't want an organization leader to tell me "We can't spend any money on X even though we really need it."

If you are not confident you can't lead a company through these challenging times. You have no business in a leadership position. Confidence is required by the one everyone else is looking to for guidance. Confidence is what makes the impossible possible over and over again. Confidence establishes believability in the mission and vision of the organization. Without those employees are no longer performers, they are paycheck collectors waiting for someone to tell them what to do.

Commitment

Golden parachutes are for people with no courage, confidence and commitment. If your leader will only take the job with that clause, dump him. Commitment means a willingness to ride the rough ride as well as the calm ride. It means stability and focus. It means the leader is planning on making the best things happen and not leaving until it is accomplished. It means personal investment. If a leader has no "skin in the game" he isn't committed. A golden parachute bail out is a safety net, meaning the leader is expecting to fail and wants a soft landing.

Centered

The mantra for today's business world is life balance. Not in my leader. I want a mono-maniacal focus on his or her passion which should be the position they hold in their company. Life balance is for the masses, not for the best of the best. Olympics athletes aren't balanced -- they are nuts for their sport! If you want to be the ultimate at something, face it: you have to be almost obsessive about it.

Creative

When I am working on strategic planning with a CEO and she tells me she just wants to dust off last year's plan, there is no creative motivation. Think what changed since last year? We are in a completely different business environment. What will the business world look like in three years? Does anyone have the comfort level to just dust off a plan from the previous year? Everything needs reviewed, reworked and revamped from year to year. Creativity is king in the market place for all businesses. If the leader in your organization has forgotten how important creativity is to the success of a business, remind them. Place a box of crayons on her desk; maybe she'll get the point.

Tuesday, October 20, 2009

The Oops Clause or the $30 Big Mac


How do you forgive your customers when they make a genuine mistake? Ever overspend your limit? Today people are running close to the end of their checking account balances and because of the vagaries of the financial world companies put holds on money, banks post bigger withdrawals first and people lose sight of where their actual balance is.

Some institutions have at least a $25 charge for an overdraft, meaning one customer I am aware of ended up spending close to $30 for a Big Mac. Think about it, with the current conditions banks are facing, do the banks really want this revenue stream to stop? Fee income is a significant source of revenue in these volatile times and financial institutions are looking for every way they can to improve their bottom lines. So where are their incentives for teaching better customer behaviors?

Treat your customer like family

Taking advantage of customers with fees such as the $30 Big Mac example doesn't build relationships or trust. The short-term view of customers makes for short-term customers and there is no relationship.

Treat customers like family. Give them the benefit of the doubt. Work with them in their trying times.

Create an "oops clause."

An "oops clause" simply means when your customer makes the rare mistake, you work with them on it; not take advantage of it. Make one late payment after years of on-time payments, or one overdraft situation after years of good money management; we got you covered. Obviously an "oops clause" is different than a "bad habits clause." If you are a financial institution and some of your customers are perpetually in a negative balance situation forgiveness only goes so far. In bad habit circumstances why not require they get some financial help your organization offers for free? There are still ways to help the habitual offender, if you want them to stop that self-damaging behavior.

How can you offer better customer service in your organization with an "oops clause"? What oops would your customers really appreciate your understanding? You are going to create much better customer buzz with your forgiveness in an “oops clause” than in making them choke on a $30 Big Mac.

Monday, October 19, 2009

3 Steps for Momentum Marketing

How does your continuous marketing build on itself?

How are you gathering momentum with your message?

How are you measuring your momentum?

Historically companies have used the wave approach to marketing. Typically called campaigns, marketing departments would send out a wave of messages to capture the attention of their market. Then because of costs, their message would die down except for the largest of companies. Some retailers only tried to market strongly during high buying seasons such as the holiday season. The marketing arch has changed and all businesses especially the small businesses can benefit by this shift, if they are willing to make the necessary changes.

Step 1 Make your continuous marketing build on itself.

The Internet gives us 24/7 marketing and still surprisingly few companies are using this medium effectively and we are about to reach the 20th anniversary of its existence. How do you adjust your website daily to drive traffic for return visits? What are you doing in social media to gain more followers, friends and meaningful eyes watching what you have to say? Permission marketing members, those who volunteer to follow your message, are the people you are really reaching with your messages. The better you manage your social media, website and Youtube video marketing the better you can control the momentum of your message. The best part of this new direction; cost is rarely an obstacle as the old marketing system of media advertising could be.

Step 2 Gather momentum with your message.

Gary Vaynerchuk began making Youtube videos for his New Jersey wine store trying to teach the masses that wine appreciation and understanding didn't have to be for the rich and pretentious. Gary's videos offered his unique style and approach to the wine drinker, not to mention utilizing a new type of "free marketing".

Gary's consistent message and enjoyable video "infomercials" began to hit a viral pitch as people began sharing his links. Gary has now appeared on many television programs, mainstream magazines and has a following known as Vayner-nation. His wine sales have grown astronomically. Gary found the mix of personality and message with an inexpensive medium to create a great deal of momentum.

With over 600 videos up now, he has a critical mass and a growing following. It all started with one idea and one video and the commitment to stay with it.

Step 3 Measure your momentum.

With the use of Google analytics, Youtube video views, and monitoring sales volume from Internet contacts, you can have a great understanding of how well your media choices and messages are reaching your targeted audience. Employ these simple and free measurement techniques and get your message on the momentum track and grow your business with continuous marketing with the not-so-new media outlets.

Friday, October 16, 2009

Resources are Always Going to be Limited -- Use Them All.


What resources are you "saving for a rainy day" that you should be putting to good use?

Don"t look at your financial resources like money you are spending out of your own pocket. Those resources are there to be used and invested wisely. Whether you are investing in people, new equipment, or research and development, the key is to use what you have!

I find most managers hold back on investing because they do not believe they can make the right decisions on what to invest in; therefore, they hoard resources to protect against their risk-averse natures. I've never met a successful business owner who took the safe road and was afraid to invest money where it serves the business best. Learn how to make the wise choice or get someone who can. Put your time, talent, and financial resources to work and push it to the max.

JUST DO THIS…
  • Stop hoarding financial resources
  • Invest them for the greatest returns.
  • Assume some risk when investing in solutions.
  • Expect to learn some expensive lessons.
  • Expect to get great returns as well.