Business at the Speed of You!
August 5th, 2010
In 1999 Bill Gates published his book Business at the Speed of Thought. It talks about technology being able to rapidly move business faster and faster, almost to the point in which you can think. One thing Bill in his techy world seemed to have forgotten…employees.
As the world’s technology moves faster and gains in capabilities we still need to remember that 1% of the planet is up-to-date on how to use those technologies. Something as simple as marketing with Facebook, Twitter, Wordpress, and Constant Contact can be extremely difficult to utilize if you are not familar with technology.
So how do we work with employees and colleagues to develop the level of accumen and skill to be able to execute tasks in this tech world?
We need to be able to recognize strengths and weaknesses. If everyone in the organize needs certain tech skills then trainings must be put in place on how to use and execute in the manner required. If it is something you “think” you would like your employees to have, but may not be mandatory, then you should figure out if the assignments fit into the employee’s strengths or weaknesses. If it is a weakness then do not assign the task to the employee.
It is hard working with tools like social media and internet marketing with anyone other than a high school or college kid. For a small business owner, these tools are free and can generate a significant return if used properly. We just need to realize that your business will move at the speed of your employees, not the speed of your technology.
Form a Board of Advisors to Guide You Through The Fog
July 5th, 2010
We are in business because we provide an objective view for our clients, but who will provide an objective view for us?
We have formed a board of advisors that meets quarterly to help us strategically guide our company. This is also something we suggest to all our clients that do not have a board of directors. It is very difficult as a business owner to see everything and many times it takes the help of others!
We decided to form our board of advisors by first picking what type of people we wanted. What characteristics were we looking for and what level of experience. Did we want an international master mind or not? Did we need a personality that would put on the brakes while we were going 200 mph? Did we want people that could provide the brutal truth and not sugar coat things? Did we want people with the financial experience to help us increase revenue streams and reduce expenses? Did we want people that had done this before and were wildly successful?
All of these we can answer Yes to because we want to be a highly successful company and have big plans for our 3 and 5 year goals. We recruited many with all these capabilities so we had go-to people to bounce ideas off of and get expert advice.
We have decided with our board of advisors that to become the most successful company possible we will need to be totally transparent and exposed. This puts us in a very vulnerable position but is necessary to maximize the level of success we achieve from this process.
Consider the power of having a board of advisors and if you decide to do so take this word of advice: Your commitment to your business comes before your own personal ego. Many people let their ego get in the way of this process, so pay attention to that.
As one of our trusted advisors always says: Onward through the fog!
What Worked & What Didn’t Work
May 5th, 2010
Before our client meetings we put together an agenda and action items to cover and what results we want to achieve during our time with our clients. The learning experience for us comes after the meeting when we can review What Worked and What Didn’t Work.
Reviewing our performance and clients reactions gives us the learning lesson regarding our performance and how to better work with the client. The only way this process really works is if our staff is being brutally honest. Remember that commitment before ego is the attitude and understanding staff need.
Here is a sports analogy: If the Boston Celtics play in the NBA Play-Offs in a 7 game series and go into each game without reviewing what worked and what didn’t work in previous games in the play-offs and regular season then they prevent learning and growth. They would also go into each game with a plan that was new and not based on review of the past games and types of offense and defense uses by the opponent.
In short, you may want to look at your approach to meetings and have a debriefing after each one regarding what worked and what didn’t. This may create clarity for you.
Management is Not a Dirty Word
April 5th, 2010
It is time to make management a positive word. Employee’s love a great manager because it makes their job a more pleasant and inspiring part of their life. It is difficult to be a great manager. It is difficult to be a great manager. That was worth repeating to drive home the point that if you want to be your best you will need to commit to delivering your best.
Easier said then done. We can help with the following tips:
1. Lead by example. Yes you are the boss, but employee’s will not respect you just because you bark orders. Respect must be earned.
2. Commit to following through on your word. This may be as simple as telling an employee you will meet with them at a specific time or as involved as forming a new partnership. People want to do business and be around those that honor their word and deliver.
3. Manage your time. As a manager you will have specific deliverables that lead to the success of your company or how you are measured and there are two helpful hints for making your work load more manageable: 1. Delegate – get staff and others around you-working for you 2. Do not over commit your time – you do not have unlimited time in your day so understand and know your capacity and do not be afraid to say “no I can not take on that task at this time”.
4. Remove emotion from your decision-making. Get statistical performance measures in place to evaluate how your employee’s are doing. Be careful here because it may be your fault as a manager if your employee’s are not doing well with their performance. Coaching may be required and should be exhausted before termination.
5. Have fun. Enjoy what you do and bring a positive attitude. You will be amazed at how others will feed off that.
There is no secret method to being a great manager, but the 5 things mentioned above are very effective. Be create and put your employee’s ahead of yourself and it will pay dividends.
Think of the Boston Red Sox from a management perspective. The behind the scene of how the players are treated lead to how they are motivated which leads to how they play. The foundation of owning a team comes down these same factors. There is little difference between running a product or services business or a major league baseball organization.
Non-Profits need Marketing too!
January 5th, 2010
“Nonprofits need management even more than business does, precisely because they lack the discipline of the bottom line.”
“Not-for-profit organizations are necessary ingredients in producing a good society, one in which business can thrive. Civil society works to complement government in meeting human needs.”
-Peter Drucker, Management Expert, Source: Harvard Business Review, by Rosabeth Moss Kanter, Nov 2009 Issue
Non-profits are vital to the health of our society and moral character and many are under tremendous financial strain due lack of donations, lack of involvement and dwindling membership. As the economy gets harder on individuals their willingness to spend on charities and non-profits decreases. This financial crisis happening with many non-profits is just starting to take effect; in other words there has been a delay for these organizations. So what now?
Non-profits need to start thinking way outside the box in terms of how they market, who they form alliances with and utilizing economies of scale with other not-for-profits. To survive in this economy tough desicions…business decisions, need to be made to ensure the survival of the organization. This means of thinking is new to many of these organizations because times have not been so tough. But truly creative marketing can help to pull the organization out of the deficit.