Extraordinary Business

Have We Become An Angry Society?

2010-08-12T16:11:00.001-05:00

By now most everyone has heard about Steve Slater. In case you have been hiding under a rock somewhere, Mr.Slater recently took a unique approach to quitting a rather long career with Jet Blue. After a heated exchange with a passenger, Slater went to the back of the plane, shared some choice words over the intercom, and exited out an emergency evacuation chute.

Since then he has been arrested, released, and become an internet sensation. Some are even calling hi a “hero”. So my question is when is it OK to celebrate bad behavior? To be fair, there were triggers to Slater’s actions. The passenger who launched this chain of events appears to be as guilty of slinging the expletives as Mr. Slater in this case. But should two wrongs make a right?

It seems our society is becoming increasingly angry. Whether it’s politics, work, or lifestyle, as a group we are more polarized than ever. I think the stresses of a struggling economy, stressful work conditions, and the constant bombardment of negative information has made people more cynical. I am seeing it everywhere from Facebook comments to golf league. People are angry and in some cases willing to exert bad behavior to get their frustrations out. To accept it, and in certain cases even praise it, is not good. At what point will these actions not be OK?

As leaders and employers it is important that we do what we can to change the momentum being created. In our own way, we need to start changing the mindsets of others. We need to start finding what is working. We need to get back to finding ways to grow and innovate. This country was created by people who took it upon themselves to create a strong, prosperous nation and as leaders we need to focus on that again. It’s time to stop pointing fingers and blaming. If you are angry, take positive action to change your environment.

It is time for us to be the positive example. Instead of celebrating our anger, we need to be celebrating our successes.

I'm Outta Here!

2010-05-27T11:31:00.005-05:00

Imagine for a moment that over the next two weeks more than half of your top talent walked out the door. What's worse is they actually set their plans to leave six months to a year earlier. What would you do?

Many companies could start feeling that pain in the coming months. In a new article by Joe Light from the Wall Street Journal, the number of employees voluntarily leaving their place of employment was higher than the number of people being laid off or fired for the first time since October 2008. This is a sign that people are growing more confident in a strengthening economy and are willing to seek out a new employer. The article also mentions a poll conducted by Right Management that 60% of those workers intended to leave their jobs when the market got better which implies that there are many who may be working for you that have already checked out.

As our economy begins to grow again, companies may start experiencing a new form of downsizing where the talented work pool leaves the companies that sparred their positions. If your best talent were to leave and go to your competitor, what would you do?

Be proactive with your people. Speak to them openly. Engage them in the future of your company. Give them an active role in its growth. The costs of finding new talent can be as high as several times that person's salary.

What are you doing to keep your top talent?

Source: http://yhoo.it/aHTk8e

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2010-04-18T09:14:00.002-05:00

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What we can still learn from Apollo 13

2010-04-18T08:49:00.006-05:00

A few days ago we celebrated the 40th anniversary of Apollo 13. Though I was too young to remember when it happened, I know enough through history and the media to understand how important of an event this was.

Here's a recap for those younger than me who haven't at least seen the movie with Tom Hanks. Apollo 13 was one of several trips to the moon that the US made between 1969 and 1972. It was the only one that was scheduled to land on the moon but didn't. Early in the flight a malfunction created an explosion that damaged the craft and placed the lives of its passengers in jeopardy. The decision was made to use the gravity of the moon to bring the astronauts back as it was their best chance for survival. Enduring harsh conditions, the astronauts made use of their damaged craft and with the assistance of some very talented people on Earth, plus a little luck, managed to get back home safely.

The fact that these men survived when you consider the technology they were using is amazing. It represents what we as humans are capable of when we go beyond what we believe we are capable of. One of the challenges highlighted in the movie demonstrates our potential. At one point, the astronauts were using up all of their oxygen. The scrubbers designed to remove the CO2 from the air in the lunar lander was not designed to support three people or last as long as it was tasked for. To make matters worse, the filters in the module were not designed to fit in the lander. In order to give the astronauts enough oxygen to get back, the engineers on the ground had to literally figure out a way for a square filter to fit in a round hole. Under a severe time crunch and extreme pressure they were able to work a solution using the limited materials found on the craft at that time. This was just one of the many challenges that the astronauts and ground crew faced throughout their ordeal.

The success of Apollo 13 in spite of all its failures meant a great deal to our country during a difficult time. It demonstrated our ability to adapt to ever changing situations and to overcome many obstacles. We all face challenges in our lives. Hopefully none of us will have to go through the challenges these astronauts endured, and the reality is there are many who will face similar issues where it may seem like all hope is lost. No matter what your circumstances may be, know this: You are the only one who has the power to change your outcomes. When you use your mind and tap in to your talents, only then will you realize what you are capable of.

Toyota, what have you done?!?

2010-02-10T13:46:00.004-06:00

Want to see how to destroy a great reputation that took years to build in just a few short weeks? You might want to talk with Toyota. In their quest to become the world's largest car company they made a mistake that GM was often considered guilty of. They let quality slip.

That alone probably wasn't bad enough to do the damage. But trying to cover it up was. Toyota knew there was a problem, but they weren't sure what it was or how to correct it. First it was the floor mats causing the accelerator to stick. When that didn't resolve the issue the public began questioning if they actually knew. Now it appears Toyota has the solution by fixing a faulty accelerator. Just when they thought it couldn't get worse, now there is a problem with the breaks on the new Prius. A recall has been issued in Japan, and the US is waiting to see what they will do here.

Recalls in the auto industry certainly aren't new. Actually they happen quite often. Check out http://www.automotive.com/new-cars/recalls/index.html and see for yourself. So what made Toyota's such a big deal?

I think the issue is trust. Toyota built its reputation around it. You could trust them, their vehicles were reliable, you could count on their resale value, etc. The recalls have people questioning that trust and it's going to take a lot to repair it.

People have become very skeptical in today's economy. Loss of jobs, the mortgage bubble, and questionable business practices have caused cynicism to increase. Rebuilding trust will be a challenge and it will take time. For others, it will create opportunities to grow. Trust is one of the most valuable things in your business. Make sure you don't squander it. Hire the right people, communicate and value them. Treat them well. Work with integrity and be a good community partner. Create a legacy that will have people wanting to do business with you and not driving them to your competitors.

Changing the way we hire.

2010-01-12T14:43:00.005-06:00

Throughout my career, I have been on both sides of the hiring scene. I have dealt with the frustrations of finding a position that best matched my abilities and beliefs, and I also played various roles in hiring at every company I worked for. In either case, I would say the objective was the same: find the right fit.

Today I find myself taking that experience and helping companies do just that, find the right fit. The theme that has repeated itself this year is the desire to have people match the culture they work in. More than one company has asked for help in the hiring process because of bad experiences in the past. Too often the decision to hire is made on technical experience and the decision to fire is a cultural one. Talent matters little when values and beliefs don't match. It's a lot like a bad marriage and usually the honeymoon period is much shorter.

So how can companies make better decisions? Whether you are someone seeking a new career, or a business looking at hiring, you need to consider these thoughts. The hiring process in many companies is broken. It's more about flash and dazzle while answering a rather standardized bank of questions the right way. The internet has plenty of resources available at no cost to help you interview better. If that is not enough, you can pay to have a professional create a resume, or consult you on your interview skills.

Employers play a similar game. The hiring approach is focused on weeding candidates out because they do not exactly match the criteria described in the job ad. On top of that the focus is more about technical aptitude and less about attitude. And I speak from experience when I say it is easier to work with someone who is motivated to do a good job than it is to work with an expert who isn't motivated at all. Technical skills are easier to teach while it is much more difficult to change behavior.

Here are some things to consider when hiring:

Before posting a position. Define what will make that new person successful. Do it not only from technical expertise, but from behavioral as well. "Begin with the end in mind," as Covey would say.
Ask for more than a cover letter and resume. You want a feel for what this person is like. Ask specific questions related to specific behaviors identified in the first bullet. Get the candidate to share past experiences and outcomes. This will give you a better idea of what they are like.
Weed out candidates on multiple factors. Understand what level of technical skill you are looking for and weigh that against the scenarios they have shared. Look for a balance between behavior and expertise. Have your list of "need to haves" and "nice to haves." Avoid compromise on that which you deem critical to the position, and be willing to develop the rest. This list should be down to 3-10 candidates.
The "pre-interview." Many companies do this. Have a short interview over the phone. This is to cover experience and discuss the scenarios shared in the correspondence from the interviewee. It may involve a few in depth questions related to the information already provided. You may also choose to ask some warm-up questions to see if this candidate goes on to the next round. After this step, you should be down to no more than four candidates.
Interviewing. There are no shortage of interview questions available. Most questions focus on hypothetical outcomes. For example, "What would you do if..." The types of questions should focus on past behavior. These are tougher to prepare for and require facts to back them up. The questions you ask again should be a balance of technical experience and behavior/attitude.
Don't ask for references. Most people in their right mind will not give you a bad reference. I would recommend gathering contacts identified through the interview process. The can validate information and help you assess its accuracy. Listen for names in the interview process. Seek out those contacts first. They will either validate or clarify what actually happened.
Assessments. Personality assessment tools can provide valuable information in the hiring process. Instead of using them as an elimination tool, I help leaders use them to define what they will need to develop in the person they bring on. All of us have strengths and weaknesses. How we communicate, react and process information also affect how we do our jobs. Assessments provide a way to help leaders understand the communication style of the individual.

While this list is not complete, nor is it necessarily right for every hiring situation, it can help you make better choices with the staff you will be adding. In the coming days I will dig into these topics a little deeper and would love to hear your experiences and successes with hiring.

The Year of Performance

2010-01-07T18:44:00.003-06:00

If the feedback I have been getting from executives holds true, 2010 will be the "Year of Performance." There is a common theme that has been popping up in virtually every discussion I have had over the last few months. And that is quote:"We believe we are at a point where we have the right people to take this organization forward. There is a lot to accomplish and the economy hasn't bounced back yet, but we need to grow. This year we need our people to work smarter, be more efficient, and believe in our company."

One CEO put it, "Our typical evaluation process isn't working to create better employees and grow the company. We need to do a better job with communication and innovation. Our leaders must empower their people to do the right things and teach them how to make good decisions."

From hiring to development, the companies that are making the transition back to growth mode are all wanting to do better with what they got. I am fortunate to say that I will be working with some of these companies to do just that through better strategy, better leadership and better execution. Momentum is building and growth will resume again. It will take time but we are on our way.

In future posts I intend to discuss some of the work I am doing and give some insight to how you might get your people working better, smarter, and more efficient.

The evils of email

2009-10-05T13:13:00.003-05:00

It's amazing how our world has changed in a relatively short period of time. When I attended college (not all that long ago) things like email and the internet were either in their fledgling stages or unheard of. Heck, anyone having a computer in their dorm room was a big deal. Today we are interconnected in so many ways it's hard to believe. Now my phone is no longer anchored to the wall of my house, it's anchored to my hip... and sometimes my ear. Besides that it also connects me to the internet, email, and text messaging. With so many ways it should be easier to communicate, right? Not always so.

I am writing this post because today I got one of those many reminders that I am human and prone to make mistakes. The irony that it is centered around communication can make it even more painful since I work with many of my clients on just that. Like everything in life, I treat it as a learning opportunity and thought I would share while this one is still painful because it is too easy for many of us to make the same mistake.

Without getting into many of the details this is what happened: I have been working with a group of people on a collaborative effort. One of many I have going on simultaneously right now. With collaboration comes planning and the desire by all participants to get it right. This group is no exception. For those who may not know me should know I am very driven as well as action oriented. My personal drive combined with my need to have a process around it can sometimes be challenging. So I am constantly working against the clock in my head of when things should be complete vs when more planning needs to be done. In this particular case I desired the need to keep moving ahead when someone forwarded an email to the group of some follow up things that needed to be completed. These items definitely needed to be done and I thought it would still be possible for us to move ahead in other areas. I responded to everyone with my thoughts and didn't concern myself with it any further, that is until it surfaced later. My email came across the wrong way with other members of the group and I found myself making corrections and apologizing. I also kick myself for making this mistake. Email is a tool for communication.

Email has made our lives easier by allowing us to communicate information to others quickly. It has also become a crutch for many as the preferred method. I too have fallen into this trap. The problem with email is your inability to clearly share feelings and other thoughts. We make the communication short and sweet and abbreviate in areas we probably shouldn't. Interpretation is then left to the individual reading it to get the message out. I have a very direct style of communication when writing email messages and that can be interpreted differently than intended which was the problem in this example.

The thing to remember is email has its time and place, but it should not be treated as the only source of information. It is used too often in many cases because it is easy and quick. Yet sometimes it is better to just pick up the phone and make a call. At the very least, be mindful of your words for they are open to interpretation. Question yourself, "Should I send this as an email, or is this better delivered in person." We all make mistakes and I was fortunate enough to have people communicate back to me which may not always be the case. So be careful how you use technology so it doesn't come back to haunt you later.

A Discussion on Change Management and How to Make it Work

2009-09-09T11:20:00.005-05:00

In my September newsletter I discussed the concept of change. Largely I see the majority of us resistant to change (which I would doubt there would be many arguments against this) and as a society/business community expecting change to happen instantaneously. We are very much in a "now" society. Technology has spoiled us to the point where we demand immediate results. Yet there is something to be said for slowing the process down. And truthfully, by taking more time on the front end, we make things work much smoother on the back end.

Think of the place where you work. How often do things change? How often is that change met with resistance? How many of you are familiar with the "Flavor of the Month"? Often the running joke with each new initiative is "this too shall pass" and your employees play the waiting game to see when you will get tired of the new process, idea, or concept and go back to doing things as before. In fact, your employees can condition you to fail in the change process. In some examples I have seen the stand off last for years! Yes, years. And the only result to come out of it was going back to the old way of doing things so it's less painful. This all because of our need to make changes happen quickly and dramatically.

In my newsletter I spoke about incremental change. This process is most effective in companies that have been highly resistant to change in the past. It is a way of conditioning them to be more receptive to change in the future. In addition, the success rates are much higher that the change will be implemented and integrated into your business. To see some of the points, I will refer you to the article here: http://cdn.shoutlet.com/server/bar/51644/8555/0/s/0. To add to that discussion, I will continue on.

The idea of change is simple, yet the execution of it can seem complex. And in a way it is because to truly implement most changes, you need the full buy-in of your staff. The larger the organization, the more people you have to get on board. In most cases, change is driven top down. Somebody in leadership comes up with an idea and wants it implemented. There may, or may not, be a discussion among management on this change before it is passed down to the next layer. Middle management is given the concept and is then asked to drive it down to the front lines. Here it is crucial that middle managers understand all the how's and the why's in order communicate it effectively to the staff. Often this does not happen as effectively as it should. The change may be shared in meetings, emails, or newsletters, but full buy-in hasn't taken place. In the end this leads to resistance and not seeing the full benefit of the change process.

What if the change process was reversed? Instead of speeding the process up hoping to see immediate results, it was backed down to a more realistic time frame. Also, what if the seeds of change was planted in the minds of the employees so that instead of a top down approach, you drove the change from the bottom up. How might that change things?

Right now you might be saying to yourself, "We need to move quickly so we can react quickly." This is true, but more so when you are doing just that: reacting. Often business decisions, personal decisions, political decisions, etc. are a result of responding to an impending crisis. Sadly, we might have even been warned about the outcomes of this crisis earlier where we could have taken action, but the motivation wasn't there for whatever reason. Then when we are forced to deal with it we react. We need to become better at looking further ahead to prevent this from happening. We need to find ways to take the important but not urgent needs and prioritize.

You may also be thinking, "The employees won't come up with the right solution, and then when we don't use it they will be upset." That is because we have conditioned people to pass their problems to others. This is especially true of many managers. Managers often take on the burden of their staffs issues because they live in a false belief that it's quicker and easier to fix the problem themselves instead of coaching and teaching their people how to effectively deal with it. In essence, the ownership of the problem/idea is passed from the employee to the leader. So if it doesn't work, it's now the manager's problem. This is why it is so important to keep ownership where it belongs, on the individual.

If you are able to improve these two areas: being proactive instead of reactive and placing ownership and accountability on your people, over time you will be able to make change happen quickly and effectively. Take steps today to create a culture of change and the first step will start with you!

I encourage others to share their thoughts and ideas here. Open up a discussion and through that learn how to make change happen.

China 2.0: Understanding what it takes to open doors in China | CRW ÃÂ¢Ãâ¬ÃÂ¢ Corporate Report ÃÂ¢Ãâ¬ÃÂ¢ Wisconsin's Business Magazine

2009-08-21T21:29:00.001-05:00

China 2.0: Understanding what it takes to open doors in China |
CRW ÃÂ¢Ãâ¬ÃÂ¢ Corporate Report ÃÂ¢Ãâ¬ÃÂ¢ Wisconsin's Business Magazine

Shared via AddThis

Just How Important is Communication?

2009-06-11T14:56:00.002-05:00

Imagine you are making a trip to another city. Unfortunately your car is broke down and you have to rely on someone else to get you exactly where you want to go. In an urban area you might call a taxi, take the bus, or ride on a train/subway. If you live out in the sticks like I do, you may have to call a friend or relative to get you where you need to go. Now what if you couldn't speak and you couldn't write anything legible for the person to understand where you were going. Also, what if the person giving you the ride couldn't speak or write anything down either? All of a sudden the communication that we take for granted on a daily basis would probably get very frustrating.

I recently spent several weeks overseas in China. My Mandarin is quite rough to say the least. I can get out some of the basics but I am a long way from holding a conversation. Fortunately most times I had a translator with me to make sure communication went smoothly.

There were times though where I was on my own and it was up to me to get the message across. For example, one day I chose to travel to Beijing which was a two hour drive by car. Fortunately high speed rail was available which was more comfortable and much faster. The challenge was getting from my hotel to the train station, then to Beijing and back.

I had already experienced the challenge of ordering food at the local restaurants. Fortunately most items were pictures and you could point to what you wanted. Yet there were times where the server needed more information that the picture couldn't provide. Now what? In some cases it was a guess. A few times I was pleasantly surprised with something I didn't think I ordered but I managed to get by. In any case, it was extremely frustrating on both sides when we couldn't understand what the other was saying.

Now imagine yourself traveling 80 miles away with little more than a street address. A normally simple process became amazingly complex. I had to plan ahead of time and make sure my translator understood exactly where I wanted to go. I then had to trust that she would write down the correct information. (She must have liked me because I made it back) On top of that, I couldn't read what she wrote so she needed to translate each phrase back to English so I would know what I was "saying".

The taxi rides were very interesting because all the taxi drivers loved to talk, or at least all the ones I rode with did. Imagine having a conversation with someone and all you can do is smile, nod and try to explain you don't understand a single word that person is saying. Again, frustrating.

So what's my point here besides learn the language? This is an extreme example of how difficult communication can be. Many people who have been in a leadership role can relate to this experience even when the people you are speaking to DO speak the same language. The key is mutual understanding.

The other day a client shared how easy their job would be if it wasn't for the people and the difficulty understanding them. Two people can interpret information very differently. We often make the assumption that because we understood what we meant, that others should get the same message. Not the case. Many problems can be avoided if we work toward understanding. This is true whether you speak to a taxi driver in China or an employee on the production floor. The better you get at understanding the easier it will be to get things done the right way.

Business would be wonderful if I could just fix all these damn problems!

2009-05-11T18:52:00.002-05:00

Is that something that you said to yourself? Maybe even thought it a couple times? I think every business owner or executive has come across a point where they wished they knew all the answers.

Every business has its challenges. We may think the grass is greener at another company in another industry in another location. The truth is it probably isn't all that different. In fact, they are probably dealing with the same problems as you!

Throughout the past 20 years, I have worked for (or with) someone. Their problems were everything from lack of sales, lack of qualified people, poorly trained people, high competition, low margin, commoditized goods, etc, etc, etc... It didn't matter that the company was less than ten people or several thousand. Each faced pretty much the same problems. The only real difference was the scope of the problem relative to the size of the company.

Often we focus on the wrong things. We get trapped by the problems in our head. We worry too much about our competition and what they are doing when the focus should really be on ourselves.

I remember working with a company that wanted was battling shrinking sales. I was contracted to help them come up with a new strategy and position them as a market leader. It was not successful, and not without trying. The reason for failure: obsession with their competition. They were so worried about what their competitors were doing they failed to take action. Worse yet, they reverted back to old behaviors which made the problem that much worse.

Your problem may not be fear of your competitors, but something is challenging you right now. It's not the economy. Even now there are successful businesses that are growing. Seek to discover what is holding you back and change it!

Growing Internationally

2009-04-28T17:46:00.002-05:00

Several months ago I began a new journey that started by simply asking a question. What that question led to was a new direction that could potentially make my business grow to where I dreamed it would be.

It all started earlier this year (2009) when I was doing my usual search through LinkedIn. I came across an interesting profile for a business in the US that was working with China in the healthcare industry. The CEO, Ruth Lycke, was the first stroke survivor to be treated in China. Since then her company China Connection has been working to coordinate medical services from China with people in the US.

I was interested to learn more about her story since she was based in the Midwest. How did she come to seek treatment in China? What caused her to start her business? How easy was it to create an international company doing business in China? My thought was it couldn't hurt to ask so I contacted her directly. To my surprise, I soon got a reply via email welcoming my connection and wanting to answer any questions I had.

Within the week, Ruth and I connected via phone. I had the opportunity to learn about her journey and the opportunities that her circumstances had created for her. She had been working on China Connection since 2004 and had built a solid reputation, as well as good connections in China.

I explained my services to Ruth and asked about the potential in China. She felt there were wonderful opportunities there for my process and then surprised me by offering to assist me with building a practice in China. I was cautious (and Ruth will attest I still am) about taking my business this direction. In an instant I had gone from inquiry to potentially opening up a whole new opportunity. Curiosity got the best of me and I wanted to learn more.

We agreed to meet face to face so I could address any questions I had plus weigh out the possibilities of making a move like this while reducing as much risk as possible. Our meeting was both informative and reassuring. I left with what I believe to be a great opportunity: build a business where I can work to break down the barriers between two cultures that very much want to work together.

Doing business with Asia is going to be necessary to build trade. China has the fastest growing economy and the greatest challenge is our cultural differences. (I am purposely avoiding political discussion here and will only say that if we want someone else to change, we must educate and provide opportunity. That goes both ways.) If I can help bridge a gap, who knows what opportunities that will provide in this country as well as abroad.

So I recently opened an office in China and am in preparations to make a trip there in the coming months. Are there risks? Yes and they have been calculated. The point is this is one step to bringing a dream to reality. I welcome the challenge and look forward to reporting more in the future.

The importance of buying local to the economy.

2009-03-27T09:55:00.001-05:00

Natasha Vora is a friend of mine who owns Indocara. Her company specializes in bringing textiles and furnishings from Southeast Asia to sell in the US. She has a small retail shop located in downtown Madison as well as an online presence at www.indocara.com.

Though Natasha and I come from very different backgrounds, we do share some similarities. We both had the opportunity to hone our skills at larger companies (in fact, we both spent time at Lands' End), and we both left to pursue businesses that we are passionate about.

Recently Natasha had the opportunity to participate in a local business radio talk show. She shared her experiences and also brought up a really good point, the importance of buying local.

Small business is the key to stimulating the economy. These companies make up the bulk of our workforce and often are the engine for economic growth. Often we forget about these businesses when we shop. The big box stores have created top of mind awareness for many of us and we often do not give it a second thought to go to the large stores when we need something.

I have also experienced the buy local dilemma. Some companies perceive that business expertise or strategy needs to come from a large company in a big city, and that is simply not the case. Yet I have lost opportunities because of the perception that the business knowledge of a company in another state must be better than what can be provided locally.

I think it is important for all of us to support our local economies as much as we can. In order for us to thrive, supporting those in our community is crucial. So before you head to that big box store, maybe check to see if it's available from a local business.

To hear the podcast for Natasha's interview, go to http://loyalearspodcasting.com/wtdy/audio/IB032409.mp3

Invention out of necessity

2009-03-11T16:05:00.002-05:00

What if you could reinvent your business or your product and grow by 20% this year, would you do it? My guess is probably so.

Today I read an article on Inc. Magazine's website (twitter inc5000 if you are interested.) about a small chemical company that did just that.

In Max Chafkin's article, he shared the experience of OMI, a company in Barrington, IL that specialized in industrial strength deodorants. For years, the company made a healthy profit margin of 80% by selling its non-toxic chemicals to engineers and plant managers. Yet Phil Coffey, who would later own the company saw more potential.

Phil had a plan to reinvent the product that had been so successful for industrial use and tap into the consumer products market. He saw a $4.7 billion dollar industry that he could tap in to.

After purchasing the company, Phil took a risk and launched a costly consumer strategy. His risk paid off and now their Fresh Wave product is taking off. In fact, they expect 20% growth in 2009 despite the economy.

The message here is this: opportunity exists everywhere. Unfortunately most of us fail to see it because we are too wrapped up in our own issues to notice. In other cases, even if we do see the opportunity, we may be too afraid to risk it. Phil's company already had profit margins of 80%. My guess is many would be happy with that and be unwilling to take on a risky venture.

Our country was founded on people taking risks; sticking their necks out. In order for us to grow and thrive, we need leadership that is willing to do the same. We need to make educated decisions and find the opportunities we can take advantage of. It is necessary to our survival.

Take ownership of your situation, find ways to re-invent yourself, make wise decisions, and have a plan.

Now is not the time to complain about the economy, your industry, your employees, management, government, or anything else. If you are willing to let someone else control your destiny, you may not like the results.

Opportunities Exist: Are you ready for them?

2009-03-09T10:25:00.000-05:00

Growth is possible anytime, anywhere, in virtually any industry. All too often we miss these opportunities over concerns and fear from what we see occurring in the marketplace. Yet businesses who are poised to grow now will be miles ahead of their competition when the economy shifts.

Why would I say this? It's simple, because most businesses will cut back and wait right now. It may be because they are unable to take action (no resources) or it may be fear (concerns without a plan).

What if over 80% of your competitors chose to do nothing right now, or continued to do things the same way they have always done them? What opportunities does that leave you?

If you are able to take action, you should do so now! Just make sure you are wise in your move. Have a plan, define new opportunities, limit your risk, and move ahead.

Things you can do to help keep your business prosperous.

2009-02-16T22:46:00.003-06:00

I recently read an article by Barry Thomsen. He puts out the Small Business Idea-Letter. You can find is content at http://www.idealetter.com. The article was titled "It takes time for a business to put up a closed sign."

The article hit home on a key point that I tell many business owners who are struggling; "It's not what you did yesterday that got you here. It's what you have done over the past several months or years." Almost nothing happens overnight. Most problems start out benign. They are symptoms to a larger ailment and they may go unchecked because at the time they seem to be a nuisance instead of a larger problem. They are put off because people are too busy dealing with the daily issues to worry about them. Often when companies realize they need to fix these issues, it may be when they no longer have the time or the resources to do so.

Here's Barry's list. It's a pretty good one. I have abbreviated the original article to fit in this blog. If you would like the original article, please contact Barry at www.idealetter.com.

Customer Care: Treat your customers well or they will spend their money elsewhere.

Marketing: You must advertise and promote your business. Hanging out your sign is not enough.

Owner Attitude: Make sure your attitude is one that people want to do business (or work) with.

Training/Development: Customers want a knowledgeable, courteous staff. Continually develop your people.

Spending: Manage your money wisely. A growing business needs capital. Lavish trips and expensive equipment can cost you dearly.

Ownership: Stay connected to your business. Pay attention to the details so your business will grow.

Business Knowledge: Get to know the business basics, take courses, read and learn.

Salaries: Keep your pay and that of your employees at an affordable level. Reward for outstanding performance.

Keep up to date: Your products and services have to keep up with the times.

Ownership Change: If you bought into a business, you need to learn what the customers expect. Cutting corners could cut your sales.

Build Reserves: Keep cash on hand for the lean times

Product Mix: Learn what your customer is looking for.

Pricing: Make sure your pricing matches what you are offering. If prices fall too far out of line, you may lose your customers.

Big Accounts: While those accounts may pay well, they will cost you dearly should you lose them. Balance out your business so you don't have too many eggs in one basket.

Taxes: Keep up to date on your taxes. Falling behind here can be costly.

2009-02-16T15:58:00.001-06:00

Testing out a new feed. www.ping.fm

Does your company know where it is going?

2009-02-10T15:26:00.008-06:00

How versed are your people on the direction of the company? Here is a quick way to find out and it requires only two questions. First, take a random sampling of your staff. Include some leaders as well as front line and start a discussion with them.

Ask them these two questions:

What are the primary objectives for the company?
What is your role in accomplishing them?

Wait for the response on each question and compare notes. If your employees and leadership gives answers that closely match yours, then you are on the right track. However, if your staff looks at you with a blank stare, you are going to have some work to do.

What is most important now is that you have the right people doing the right things. If your people aren't working on the right goals, you will be wasting time and money. It could also be a sign that you need to review each persons' job expectations and streamline process. Make sure the right work is being done to provide the best performance and service for the company.

Punching in and Checking Out

2009-01-31T10:37:00.001-06:00

One of the most costly challenges in business today are the staffers who punch in, but fail to show up for work. Almost every business has them. They show up and occupy their space, but they fail to perform to the expectations of the job.

While market changes have helped companies reduce staff, how can you be sure that you have the best employees working for you now?

Better communication: establish clear communication with your people to make sure they understand the goals fo the company.
Better accountability: Make people responsible. Give them specific goals that can be measured by the employee as well as the leader. Meet regularly to review and discuss.
Better documentation: Plan out a clear record of performance for your people. If someone is under-performing, make sure you document it. If someone is performing above expectations, do the same.
Better follow through: Stick to your word and hold all members of your staff to the same standards.
Better distribution: Distribute work evenly among the entire workforce. Avoid punishing good workers by heaping more work (and greater expectations) on them
Better measurements: Assess your people, develop strengths once you know what they are.
Better culture: If you want to be world-class, you must think world-class. Become a culture that talent is attracted to and can perform well in.

Charter doesn't get it

2009-01-29T09:01:00.004-06:00

Charter Communications is near bankruptcy and it looks like there may be no way out of it this time. Microsoft co-founder Paul Allen has sunk a bunch of cash and lost $7 billion in the process. Could this have been avoided? You bet!

I have been a Charter internet customer for about four years now. Where I live, high speed internet choices are limited. So at the time Charter was the best option for me. For my first 4 months with Charter, it was a nightmare. Billing mistakes and confusion on what i owed led to the cancellation of my service 4 months into the relationship... Even though I paid my monthly bills. After a long discussion with their customer service department I got them to waive the reconnect charges and make the corrections to the bill.

The following year my rates more than doubled without warning. I did not receive a notification and immediately contacted customer service. I was informed that my plan was cancelled and I was bumped to a faster service and a higher monthly fee. Again, after discussing this with customer service, they enrolled me into a promotional package which lowered my monthly rates down to a price point closer to what I was paying before.

Last year (2008) I did receive notification of an increase and was informed that my bill would be doubling. This led to another call and after getting transferred to their customer retention department, a slight reduction in the rate change.

Charter, how could you avoid this? Better service would help. The examples above are my own, and I am not about to share negative feedback from others, but it seems as though Charter chooses to provide poor service on the front end and requires the consumer to jump through hoops to fix a problem that could have been avoided. To their credit, they have addressed my issues and made corrections, and it would be nicer if they looked at their practices and prevented the problems in the first place.

For the sake of Charter, I hope they are able to figure it out. Choices where I live for high speed are better, yet I do not want to go through the hassle of changing it.

Make Change Happen

2009-01-19T22:19:00.003-06:00

Tomorrow our 44th President will be sworn into office. While Barack Obama spoke of change throughout his campaign, it is up to all of us to make a difference. For future generations to prosper, we must make difficult decisions today. America has always been a land of opportunity and it is up to us as leaders in business and politics to create a strong economy.

Great to Bankrupt

2009-01-18T16:19:00.004-06:00

Between 1982 and 1997, Circuit City was growing at a rate 18.50 times the market* and was considered one of the strongest companies in home electronics. Recently it was announced that Circuit City would be closing all its locations and liquidating its inventory after a failed attempt to find a buyer.

Circuit City was one of the companies highlighted in Jim Collins book "Good to Great" which studied the traits great companies possess that allow them to sustain growth above the industry average. Besides Circuit City, Fanny Mae has also experienced its own problems in the wake of the crash of the housing market.

We need to remember that corporate performance can be a fragile thing. There are many factors to calculate why these once great businesses fell and in the end, Jim Collins may have said it best himself in the book's first chapter; Good is the enemy of great.

The key to thriving in any environment is to address the little problems no matter how insignificant they seem to be at the time. These are the issues often overlooked when business is doing well, but are the Achilles Heel when business tumbles. Businesses typically don't fail overnight, they are slowly destroyed by complacency and oversight. The story of these two once great companies might have ended differently had they addressed the warning signs that began to surface years ago.

*"Good to Great" by Jim Collins, Harper Collins Publishers

Wipe The Slate Clean

2009-01-05T22:50:00.004-06:00

Now that 2009 is upon us, let's take the time to approach the year with new determination. While little has probably changed, let's all make it a point to change our attitude about our business and the economy. Look at 2009 through a new set of eyes and focus on how to grow your business. the only way we can all make a positive impact is by finding a way to win, not to survive. It is possible, I have seen it. Several businesses I know are experiencing double digit growth right now. Our jobs as leaders is to take advantage of opportunity. Find that opportunity now! Let's not squander it away with the hope that someone else will change our future for the better.

Bailouts and Bonuses

2008-12-14T21:43:00.003-06:00

I recently read a Reuters article where Merrill Lynch's CEO John Thain asked the company's board of directors for a $10 million bonus. Argument: since he saved the company from impending doom, it seemed only right he should be rewarded. My question is with such "great" leadership how did it get there in the first place?

There are many business leaders that are disconnected with the rest of the world. For most people, if business is poor, we all take a stake in that performance. This could mean layoffs in a worst-case situation, or at least no raise or bonus.

Unfortunately we hear a lot of stories like this now. Many financial sector companies that have gone bankrupt or received billions in bailout money are still paying bonuses. This is not reward for a job well done and for the sake of the taxpayers should not be paid out.