Roe's Thoughts on Managing Business Acumen

Who are you fighting?

2010-09-28T09:38:00.000-04:00

While it is extremely rare that I will watch the Larry King Live show, something caught my attention as I was flipping through the channels on a recent night. He was interviewing the Maloof family. If you don’t know, and I didn’t either, the Maloof’s are five siblings who are very successful in various business ventures including entertainment and sports. Now I am not going to profess to know enough about the Maloof’s to comment about them. What I am going to feature is something they said during their interview. The question was regarding internal family relations – basically do they fight with each other about business decisions. One of the brothers quickly responded to the question by stating that they can’t focus on fighting each other because they really need to focus on fighting the competition.

Wow, that one comment really made me take notice! “We can’t focus on fighting each other because we have to focus on fighting the competition.” Clearly that statement is an excellent example of business acumen. Think back to various projects you might have been a part of. How many times did your meetings dissolve into bickering or hurt feelings on someone’s part? People stubbornly dig their heels in and refuse to budge. It becomes an endless cycle of trying to one-up your peers. I know it happens because I have been in more than my fair share of those situations. The organization spins its wheels as various departments have issues with other departments. Senior management gets involved and now they have issues with each other. It really is a scene that probably plays out every day in businesses across the world.

Instead, what if we tried to focus less on our personal pride and territories and more on pulling together? We might actually have the time and energy to prepare for the onslaught of outside threats! Those threats are not just about fighting the competition. They are about fighting economic conditions, addressing government regulations and legal issues and many more topics that are vital to business acumen.

As business people we are already doing more with less. Resources are stretched thin and people are working harder than ever. Why should we add to it? Stop fighting each other and instead focus on fighting for your business. Doing that will bring a sense of unity and purpose. This will not only help the business succeed, it will also help you to succeed.

While I couldn’t find the actual Larry King Live interview, here is a link to the CNN Larry King Live page: http://larrykinglive.blogs.cnn.com/2010/09/18/tonight-on-larry-king-live-172/

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Are you ready for some accountability?

2010-09-14T15:24:00.000-04:00

Inevitably with football season there usually comes an opportunity to discuss how lessons learned in football can translate into the business world. This year is no different and a great example came in the very first weekend of play.

Controversial calls have become somewhat common place in many different sports this year. The Lions/Bears football game this past Sunday was a perfect example of that! A game official used a rule that most people were probably unaware of to negate a touchdown. The Lions would have won the game had the touchdown stood. What was really striking about this situation was the head coach addressed the media frenzy with a level of accountability that isn’t often seen. It comes through very clearly in the following quote:

“As dramatic and controversial as the play with 24 seconds left might have been, there were 126 other plays from scrimmage that also had an impact on the game. Those plays kept Lions coach Jim Schwartz from pinning the loss on the one play.

"The time I stand up here blaming the officials for a loss is the time I don't have to do this anymore," Schwartz said.”
From The Detroit News: http://detnews.com/article/20100912/OPINION03/9120339/1126/rss14#ixzz0zX3KYjIH

The team had plenty of time to win that game – they put themselves in the position where the outcome hinged on one play. That play failed and they lost the game.

Wow, that’s standing up and honestly looking at the teams shortcomings in the entire process. That’s accountability and I really feel that it can be rare in this world. After all, who would want to willingly stand up, in front of their bosses, peers and the world, to state that they didn’t accomplish the goal to no fault but their own? It takes courage and a willingness to be vulnerable to make such an admission. Isn’t it easier to blame your boss, your coworkers, this economy or a host of other reasons? Yes, sometimes there are legitimate, concrete reasons for failures though I would suspect most of the time we, ourselves, have a hand in the process.

What is to be gained by such a pronounced display of accountability? Credibility. Respect. The freedom to become stronger.

Becoming more accountable is not easy. It is not fun. At the very least we must become more accountable to ourselves. By understanding our own shortcomings and actively trying to overcome them we will become more accountable. Doing that can only lead to improved business acumen!

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

There is more to a thank you than just the words.

2010-08-18T13:45:00.000-04:00

I wasn’t quite sure what I wanted to write about this week but inspiration struck at the mailbox. We received a thank you from a wedding we attended back in June. Personally, I think thank you’s should go out within a month, but I do understand in the case of weddings it can be longer. Regardless, the lack of sincerity didn’t end with the timing of the message. The card was a photograph of the couple with a preprinted “thank you for sharing our day” message. No handwritten note, not even our names were written on the card/picture. For that matter even the envelope had computer generated labels. It felt so insincere and impersonal that it was more insulting than not receiving a thank you at all.

Now, you may wonder why I am mentioning this in a business blog. I thought it is very important to share because even in business a thank you needs to be more than just words. People can sense when gratitude isn’t sincere. Think about thanks you have received. It feels very different when it is warm and sincere then when it is a hastily muttered acknowledgement. One example that quickly comes to mind was a project I worked on. At the request of my manager at the time, I spent a month compiling and analyzing a segment of data. When I presented my work, the neatly organized binder of information was tossed it on a pile of paperwork. The manager barely said thanks and it was never touched again. Wow – can you feel the warmth there?! Not surprising she was one of the worst managers I have ever encountered.

It won’t hurt to add a little warmth. It won’t hurt to acknowledge someone’s efforts. It will hurt when you clearly aren’t sincere. It would have been better for that manager to have said, “Thank you so much. I know how much effort you have been putting into this and I will review it with you as soon as I possibly can.” Then maybe I would be referring to her as one of the best managers I ever worked for, instead of the worst.

Also, going back to the timing issue, don’t withhold thanks. Be prompt in your acknowledgements. Delays will only add insincerity to your message. If someone makes an effort for you, be quick in your effort to thank them.

Finally, remember that sometimes what happens in your personal life carries to your professional career. If either the bride or groom ever approached me for a job or referral I would really have to think about it. They were insincere and that doesn’t make for good business acumen.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Which came first?

2010-08-12T15:07:00.000-04:00

No, this is not a blog about poultry, though it is the inspiration for my thoughts. I recently saw a headline about researchers who “discovered” the answer to which came first, the chicken or the egg. Of course their findings are still conjecture as they weren’t actually there, but it brought to my mind some business struggles. As it pertains to business growth, the question of what should come first can be as equally as confusing as the age-old life question. While I won’t profess to know the actual answer, I do hope to offer insight as to how to find the best path for your business.

Case 1: “If you build it, will they come?” What if you have a business that serves a large geographic area and the question is: Should you add offices for more local presence or do you establish more customers in those areas first? For a business I know, they went for it and built the offices. Unfortunately that has left them with serious financial issues. The expansion was done without understanding truly why it was being done and what ramifications would come of it. It has mired them in problems and is now a major detriment. In this situation what was missing was a strategic plan. A homeowner doesn’t build an addition without a myriad of plans, why should a business expansion be any different! By going down the path of building a strategic plan the owners could have found balance between the expansion and the revenue needed to support it.

Case 2: “Who are you really trying to serve?” I have actually seen this in many different forms. Here is just one example. For a non-profit in challenging economic times the question is: Should you have diverse programs to increase your standing in the community or do you focus your efforts towards targeted areas and expand from there. At the non-profit I worked for the rule was, the more programs the better. Some of the programs had shared missions while others were completely different. There was very little cohesion and no planning. If the executive director had a new program idea it was implemented immediately, without research or planning. Many of these new services were duplicated with other community programs. The staff was frustrated because they weren’t being supported properly and they had to watch as precious resources were wasted on new initiatives – initiatives that weren’t needed and therefore not utilized! The balance was missing. A simple SWOT analysis and employee feedback would have made expansion decisions much more successful.

Answering the question of what should come first can pertain to just about anything and the questions will always continue:

Should I hire more employees now or wait for more sales?

Can we increase revenue by acquiring new customers or should we first try to get more value from our current base?

Is it time to leave my company or should I stick it out?

There are no definitive answers. Spending the time to understand the different aspects of the potential answers will lead you to the most informed decision possible. When you reach that point, you start to answer the question of how to build your business acumen.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Be referable!

2010-07-27T20:28:00.000-04:00

It really never occurred to me how important it is to be referable. Yes, I always wanted to do the best I possibly could but I didn’t make the connection to being referable. Think about it. As business people we need referrals far more than we realize. To find work, to find customers, to find employees and to find financing – all of it might incorporate some aspect of needing a referral.

My thought process on this topic started several months ago. A successful businesswoman, who is a dear friend of mine, was telling me about her struggles with a service provider. The service provider does an excellent job – if she could only show up and actually stay as planned. She may be five minutes late, she may be an hour late. Usually there is a call explaining the latest crisis or forgotten appointment. Sometimes during the middle of working for her clients, she’ll have to leave for one issue or anothe. Though her work is fantastic, she is completely unreliable. It becomes a huge disruption for my friend’s own work. Not surprising, the service provider has problems with her income.

As we were discussing the service provider’s situation, we talked about her inability to manage her own business. It goes beyond her timeliness issue. There have been issues in the rates she charges and her communications with her customers. All around, she is a disaster. Now, my friend tells me, the service provider is thinking about giving up her business and working for someone else. Based on this woman’s past performance, how could my friend ever refer her for a job?

Simple, she can’t without jeopardizing her own reputation. The service provider didn’t make herself referable. How can you expect to be successful in the future if you didn’t make the most of your past opportunities?

As serendipity would have it, my husband asked what my next blog topic would be. I told him it was about being referable. He immediately knew exactly what I was talking about because the topic turns out to be a core principle of a very powerful leadership program, Strategic Coach. The program has four habits that revolve around referability: 1. Show up on time, 2. Do what you say, 3. Finish what you start, 4. Say please and thank you.

Wow, sounds simple, almost kindergarten. Yet Strategic Coach is designed for business owners and senior executives. The program’s own success can be attributed, in part, to referrals. If my friend’s service provider just followed those simple principles, she would have a very successful, referable business. Instead, she just has a mess.

The topic of this blog is more than words – it really needs to be a call of action. For all of us, I recommended that we look at a sample of our customers and see if these four principles have been applied consistently. If you work for a company and don’t have customer interaction apply these principles to your internal customers. Really try to look at the customer’s perspective – dare I say it – even ask them for feedback! Use this as an opportunity to ensure you are referable. It may hurt your pride to hear the truth but it can only serve to bring you more success.

For more information about Strategic Coach and the Referability Habits please visit: http://www.strategiccoach.com/info_request/webinar/?stage=4&cmpid=NurtureWebinar&sc_v1=infusionsoft

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Don't stop learning

2010-07-10T19:04:00.002-04:00

Even though the graduation season is winding down, I really want to address the concept of life-long learning. I know it is one of those topics that make people groan. Yes, we are all busy. Yes, it is uncomfortable to admit that we don’t know everything. Yes, it is really important to continue to learn so we can achieve better business acumen.

When we first enter the workforce, there is freshness to our approach. There are challenges to be conquered and skills to be used! Years of school are behind us and now it’s time for action. Then we get settled into our careers. Various aspects of being in a business culture starts to wear down that freshness. Changes that we propose are met with “We have always done it this way” or “Why should we change what works.” Soon, we might even find ourselves saying those same horrible phrases to the next generation of professionals. The apathy sets in and the last thing we want to do is learn when in fact, it is exactly what we should be doing.

There is something to the adage “If you can’t beat them, join them.” New methodology or technology propels us forward as long as we are willing to make the effort to learn. Yet, so very often we don’t make that effort. Is it our pride that gets in our way? Or is it just that we are so busy we feel burdened by the effort. Whatever the case may be, the rationalization sets in.

It is really easy to rationalize why continual learning is unnecessary. Does this sound familiar? “I don’t need an MBA – I have years of business experience!” Except, there is so much outside of our little worlds that we can’t even imagine. In the MBA program that I was in, we studied organizational behavior topics, global issues and ethical case studies. I might have experienced these issues in my professional career, but I certainly didn’t understand them. The irony is that I would have been better prepared to handle some of those situations if I just had more information.

Finally, not all learning has to come from a degree. Pick up a book. Attend a seminar. Find a mentor. For that matter, become a mentor because learning goes both ways! Take the Dr. Oz approach and pass on what you learn to at least one person. It really is a key aspect of being a better businessperson.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Your product may be better but where is your market share?

2010-06-16T11:18:00.000-04:00

This is a post that can apply to any size business as it is an age-old business problem. You have a superior product but yet your competitors have the market share. It’s hard to understand. Your devoted customers love your product – they tell you so. Why shouldn’t you have the market share? The real key is to understand the other factors that are influencing the purchasing decision. It’s not only about the quality of your products. To gain market share you have to incorporate business acumen into your efforts. To demonstrate this further, I am going to share a story about a local restaurant we recently went to and I hope it gives you some insight into how business acumen can help you gain the market share your product deserves.

In our small area, there are two restaurants specializing in the same cuisine. Both are family owned and while Restaurant A has superior food, Restaurant B has a superior business model.

Here are some comparisons of the two with the lessons learned for each:

1. Location:
a. Restaurant A is on the boarder of the worst area in town while Restaurant B is in the heart of the commercial district.

b. Restaurant A is out of the way for most of the demographic that would frequent the establishment while Restaurant B is very easily accessible.

c. Parking is limited for Restaurant A, causing the need to park on the street or in a lot away from the actual restaurant (an issue in inclement weather that is common around here). Of course Restaurant B has a very large parking area.

*Verdict: Restaurant B wins!

Lesson #1 - make your product accessible to your market – don’t expect your market to go out of their way to come to you!

2. Hours of Operation:
a. Restaurant A only offers lunch as a take-out only four days a week. Ugh! This one really gets me. It’s a family owned and run place. The husband is the cook. The wife and adult son serve. Yet they don’t open the dining room for lunch. They say it’s not “worth” it. Really, you are in an area that is not convenient so why would I drive there only to get a lunch to go??? Of course Restaurant B is always open for lunch.

b. The dining room at Restaurant A is only open 5 days a week, for limited dinner hours and they frequently close weeks at a time for family trips back to the home country. Restaurant B is open 7 days a week, 52 weeks a year, excluding Thanksgiving and Christmas, of course.

*Verdict: Restaurant B wins again.

Lesson #2 – I have written about this in previous posts – be open to your customers!

3. Service
a. Both start of equal on this one. As big as Restaurant B is, the owner will still make every attempt to visit every table. Of course, the wife and son at Restaurant A are the server so the diners get that personal touch there.

b. Where it starts to divide is the amount of attention. Customers want to be greeted and served but you cannot be overly familiar. This is still a business relationship. Don’t make it uncomfortable for your guests. The entire time we were at Restaurant A, we heard the son’s voice. He didn’t stop talking and to almost every table. The wife was a little better but still… Know when to stop or you’ll chase your customers away.

*Verdict: Restaurant B wins.

Lesson #3 – They are your customers, not your family or best friends. Give them space to enjoy your product!

4. Marketing
a. Restaurant A places small ads in the local paper. Restaurant B has ads, television commercials, billboards and a website.

b. Restaurant B has some products for sale including their spices and salad dressings.

c. Restaurant B is a MAJOR player in the local non-profit scene. They sponsor events, they donate, they participate and they are genuine in their efforts.

*Verdict: Of course, no surprise, Restaurant B wins again!

Lesson #4 – Regardless of your size, don’t underestimate the power of marketing. Keep your name out there in any way possible so your customers don’t forget about you.

Clearly basic business acumen topics such as customer experience, business practices and marketing could take Restaurant A to a whole new level. As good as their product is, they are resistant to change and refuse to take action. They are in business in spite of themselves and unfortunately will continue to lose market share. Don’t be Restaurant A. Embrace business acumen to get the market share your product deserves.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Do your prospecting efforts stink?

2010-06-09T17:57:00.000-04:00

This story has stuck with me since late last year and I think this is a great time to share it. It shouldn’t come as a surprise that even the most mundane of situations can improve business acumen. Even, if that situation involves garbage. Yes, there is business acumen, or lack thereof, in garbage…

Our home is in an area that has to contract for weekly garbage/recyclable collections. Our service provider was used by the previous homeowners and is used by most of my neighbors. They are prompt, never miss a pick up and don’t mind if there are extra bags from time to time. Sure, I wish they had a few other options but overall, for garbage, I think they do a great job. So that’s the background, here is the situation:

As most of my stories occur, this situation had the most unremarkable start. My front doorbell rang and I answered it to a rather unremarkable man. Now, I am not trying to be mean but he was a rather unkempt and drove a beat-up older truck. I honestly can’t remember his name or his company’s name but I do remember what he said. “I’m so and so and I own so and so company. I’ve been meaning to stop by for a while but didn’t get around to it sooner. I was just visiting family up the road and decided to stop. I have a garbage service that one of your neighbors uses. What are you paying now? I can give you good rates – here’s my card, call me.” Wow, that was impressive?!?

As far as prospecting goes, I am not sure that approach couldn’t get much worse. In fact, there were so many issues with it; it’s difficult to pick a place to start. Here are the four main points that really stood out to me as severely lacking:

1. The approach was bad – “I didn’t get around to it sooner” and “I was just visiting family up the road” were statements that really made me feel special.

2. Next, while he didn’t need to be wearing a tuxedo, a little more of a professional appearance would have been appreciated. A shirt with a logo, a uniform – anything to reinforce the company’s brand would have been much more appropriate.

3. Then, he assumed I just cared about rates and used that to “entice” me – there is more to garbage than just rates. Dependability, service, number of pickups, large junk item hauling…he didn’t even ask me where I thought my current service was lacking!

4. Finally, he gives me a card and says “call me.” Am I supposed to do that just because he said to? How many of us have customers that do everything we tell them to do, HAH, that’s likely to happen!

This man was so off-base in his prospecting that he really is a great example for this blog. Business acumen does include the ability to attract new customers. To successfully prospect, you should know where you competition is lacking and what the potential customers are looking for then you need to determine how you can fill that niche with confidence and professionalism.

Unfortunately as soon as I shut the door, his card went into - come on you can see this coming - the garbage. Funny, the rest of his prospecting efforts are probably in the garbage too.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

An epilogue to the tale of three car dealerships…

2010-06-01T07:28:00.002-04:00

In my last post, I wrote about my experiences at three car dealers, all of whom sold the same brand of vehicles. I purposely omitted a common thread between the three because it deserved a post all to its own. Here are my concluding thoughts on the experience:

Recently, I made one of the better phone calls you can make. It was a call of praise. I called the customer relations for my new car manufacturer and told them about my car buying experience. The dealer I ultimately bought the car from was so wonderful, I felt compelled to tell the manufacturer about it. Why was I compelled? It’s an easy answer - they earned my trust.

Wow, a car dealership that earned my trust. Not a phrase you can say very often. As businesspeople we can never underestimate or forget the power of trust. A prospect who trusts you will become a loyal customer. In thinking about the other dealers, trust or lack thereof, was the reason I ended up at the third dealership.

The local dealer lost my trust when he proclaimed there were no cars available in all of America. What a ridiculous statement. This is the modern age. I have a computer and a phone – and I know how to use them. Don’t make statements that you can’t back up. The lesson they should have learned was that it doesn’t take long to lose trust and once it is gone…well, good luck trying to get it back!

The second dealer couldn’t even establish trust in the first place. Though at first they seem to be straight-up, once we arrived and they tried to undercut my trade by $3000 it became clear that they were shady. We did our research and we were being realistic so why would they try to play such a game? Their actions immediately put us on edge about trusting them with a business deal. Those suspicions were reconfirmed when they proclaimed that another dealer wouldn’t give the discount they were. If trying to rip-off your customers won’t establish trust then don’t expect that threats will!

So, why was the third dealer so different? The salesman was completely straightforward and spent time with us on the phone to ensure the long drive would be worthwhile. When we arrived, everything was as it was described on the phone and we came to a fair deal for both sides. The car was delivered as promised and on time. And, it doesn’t end there! The salesman has checked in with me several times to make sure everything is great with the car. The deal is done, he doesn’t have to do that but by doing so, he is continuing to build the relationship. I hope I can buy many cars from him in the future.

Now, that’s trust!!!

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

The tale of three car dealerships…

2010-05-04T19:20:00.000-04:00

Recently I experienced the joys of shopping for a new vehicle. It’s funny how that one statement can elicit so many groans! It should have been a simpler process. I knew what I wanted. My husband and I knew the financial aspects of the deal. So why did it take three dealerships and over three hundred round-trip miles to make it happen? The experiences at three dealerships, all the same brand, were so different that I think it really provides interesting insight to business acumen.

Our local dealer was the first stop. They had a car that was a very late used model and fit the budget. We drove it and it was great. They offered a very good deal on the car but my husband realized that based on current incentives, it made more sense to buy a new model. Unfortunately, the local dealer didn’t have any new models and couldn’t get us one. Our salesman –who we had done business with before – was adamant that there were no new models “in all of America.” Really? ALL of America? Wow, that was a strong statement! Lucky for us, my husband wasn’t buying that line. We went home and hit the internet.

On to dealer #2. This one was about an hour’s drive away. We called and surprise, they had many new models. So much for the local dealer’s statement! So, off we went to dealer #2. Sure, they had the vehicle but they wanted to drastically undervalue my trade-in. Round and round we went. Really, do you think we aren’t prepared and we don’t know the numbers? Lucky for us, I knew of another dealership.

We went to lunch and a called dealer #3. This dealer is almost 2 hours from our home and close to a 3 hour drive from dealer #2. On the phone, this dealer was wonderful. I explained the situation and gave a realistic picture of my trade. They had vehicles, which they explained was because they preordered enough to overcome a projected shortage. This gave me the insight that the local dealer didn’t have the inventory because they didn’t plan correctly. They also gave me different figures which showed just how much dealer #2 was lying. So, we decided to go for it and make the long drive from dealer #2 to dealer #3. Upon hearing this, dealer #2 proclaimed, “There is NO way they will offer you a discount.” Really, now you have magic powers to know what another dealer will offer?

Needless to say, when we arrived at dealer #3, all the pieces fell into place. They used business acumen to plan properly and had the product their customers would be looking for. They also used business acumen in treating us fairly and with respect. There was no need for a test drive so within 30 minutes we were signing the paperwork and giving a deposit. The moral of the tale of three dealerships: In the age of instant communications, your potential customers have options. You have to be at your best so as to be their best and final choice.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Size doesn’t matter…It’s still a business!

2010-04-27T09:26:00.000-04:00

Living near a small, quaint village has given me the inspiration to write this blog entry. First, allow me to paint the picture of the village. There is a private, liberal arts college just outside the village boundaries which has helped to create a cultural aspect to the community. Many small shops line the village green and surrounding areas. The culture and shops make the area very reminiscent of quintessential New England life. I often walk around the village and have observed an ebb and flow of daily business. In these reflections, one aspect is easily seen - it amazes me how many business start with fanfare only to close in defeat after just a few short months. After watching and reflecting on this, I believe there are business acumen lessons for all of us to learn. Here are my thoughts on how two of these businesses could have had a different outcome…

A pizza shop/cafe across from the community school seems to have a good shot at success. It is a very central location and the high school students are allowed to leave the school grounds for lunch. Looking for something different for dinner one night, we decided to give the new place a try. The interior was nice enough and though still suffering from a little nervousness, our waitress was mostly pleasant and efficient. The food was decent – not great – but good enough. So what stopped us from ever going there again? As we were eating a group of teenagers came in with the owners’ daughter. I know this because the owner pretty much stopped everything to talk to her daughter. The daughter proceeded to handle food in a case without washing her hands or donning gloves. Of course, being teenagers they were not quiet. Then all the kids went back into the kitchen. It was a repulsive situation and we never went back. Needless to say it was not a surprise to see the restaurant closed within just a few short months.
Business acumen lesson #1 – while they might be your family, they are not my family. I am paying money for your products and the experience of being at your establishment. As a businessperson, regardless of the size of your company, your first priority must be your customer experience.

Moving on to the next example, in my daily walks I always went by the shops on the green. One such shop was a cute boutique aimed towards the young women of the community. I would have stopped in just to check it out but it was always closed. The hours posted clearly indicated that the shop should have been open but invariably the lights were off and the doors were locked. It’s an interesting business model to think you can create a beautiful shop, post regular hours and then lock your customers out! Of course it is not surprising that this shop failed even quicker than the restaurant.

Business acumen lesson #2 – It’s a business and the goal is to create loyal customers. To do so, you have to build trust by standing by what you advertise. If you say you are going to be open, be open!
Of course these are just a few examples of the lessons to be learned. I think the important thing for all of us to realize is that we have to put aside our personal business priorities and make the customer experience first. Don’t keep your potential customers on the outside looking in. If you do, even the biggest and best grand opening will still lead to dead end.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

First impressions really do count…

2010-04-06T19:30:00.000-04:00

As we face the challenges presented by the current economic conditions, we cannot overlook the small details that could make or break us. One such seemingly small detail became glaringly obvious at a meeting I recently attended. It wasn’t the meeting participants or the subject matter that was disturbing – it was the welcome I received when I walked in the door.

Have you walked into an unknown place and not know what to expect? Did you find yourself somewhat relieved when the welcome was warm or were you a little more anxious because the greeting was so uninviting? When the welcome is warm and you feel welcome, your perception of the company is probably more favorable than it would be in the uninviting situation. What threw me a curve was I walked into a situation that I thought was going to be warm and wonderful but the receptionist was so cold and uninterested, I was shocked. She didn’t even look up when I walked in and continued to stare at her computer with another employee, who also didn’t look up. Finally someone else greeted me as they walked by. Definitely didn’t set a good stage for the meeting that was to come.

In this case, I wasn’t a customer but what if I was? I don’t think I would be all that willing to establish a relationship with a company that couldn’t even display common courtesy when I walked through the door! Think about the world of retail. I know which stores have more attentive sales associates and I do try to go to those stores as much as possible. Same for restaurants! I want a server to be attentive and friendly and I will avoid certain places that have “bad service.” Why should our businesses be any different?

A local company I am very well acquainted with embraces this philosophy. Their receptionist has the title, “Manager of First Impressions.” Talk about managing business acumen – they get it. The next person through their door could be a customer walking in, a banker to talk about business loans or even a business reporting looking for a feature story – they don’t know and they don’t want to take any chances.

Remember, your receptionist is not only the first face your visitors see when they arrive, they are also one of the last faces they see when they leave. Don’t let your opportunities walk out your front door. Take the time to understand the full visitor experience.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Don't let distractions drive you batty

2010-03-23T09:33:00.000-04:00

Normally, going to church is a source of comfort for me. I relish the chance to find peace in the secure place I know so well. This weekend proved to be very different then what was expected and I think it provides insight for business leaders.

It started simply enough. “Let’s go to 8am mass so we have the full day ahead of us.” We arrived and sat in our typical place and the priest processed in. So far, so good. Then the priest announces that if we hadn’t noticed yet there was a bat flying around. He also went as far to say that in his experience, bats usually stay up high and should not cause any issues. Well, this bat decided to be different.

The priest began the mass and the bat began to swoop low around the parishioners’ heads and all around the altar. People ducked, people yelped, people waved their missals so as to shoo the bat. The congregation was losing it but the priest steadfastly continued his work. He was undeterred by this distraction and kept focus even as small pockets of chaos erupted.

Mass was going to continue as usual from his perspective but the same could not be said of some of the parishioners, myself included. Since I am quite tall, I could not get the image of being an easy target for the bat out of my head. The more it swooped, the more distracted I became – especially every time it came within a few feet of my head! As far as I could tell, most people stayed for the service. My personal instinct was to get out of there but I yet I stayed. After mass though, I nearly ran the whole way to our car! As we were driving home though, I started to reflect on the incident.

There were positives and negatives to both aspects of the situation. The priest had a job to do and he executed it flawlessly. However, he didn’t acknowledge the risk that was present, as the bat could have had rabies and someone could have gotten hurt. The congregation was committed to follow their leader but at times the distraction proved to be too much which led to a lack of confidence.

The more I reflected, the more I realized that there were business lessons to be learned from this situation. As business leaders we constantly have outside distractions swooping in to take our focus. The distractions are uncontrollable and you don’t know what direction they are going to come from. Focus becomes paramount to success. In staying focused though, know when to acknowledge and address those distractions that could prove to be dangerous.

Most of all you have to remember that through this, your employees and peers might be committed to you but you must stay connected to them. Try to alleviate their responses to the distractions and reinforce their confidence in your ability to lead. Just as there is no way to predict the path of a bat, you don’t know what distractions will surface in your business life. Finding a balance between maintaining focus and knowing when to address the distractions are keys to achieving business acumen.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Creating negative undercurrents…

2010-03-17T12:39:00.002-04:00

As I try to maintain consistency with this blog, the challenge becomes in finding fresh topics. I have had several situations over the past few weeks that have proved to be distractions to my writing. Hopefully, I can get back on track. In this post I want to explore egos in business and how much they can distract from our business acumen.

One of the situations I recently faced involved a project that I designed for an organization. I have extensive experience in this type of project. It was my strong recommendation that the project be conducted so as to avoid any and all skewing in the results. Rather than take my advice, the leader decided to play the ego game and insisted that the project be executed in a different manner. The different approach had no foundation and would clearly be in opposition to the desired outcome. No amount of explaining this worked. Now the end result is that I have had to excuse myself from the entire process as I cannot put my expertise to something that I know will lead to inaccurate and unusable results. What comes to my mind is “what good did that serve?” There is now alienation on both sides and it is the organization that will suffer.

As business leaders we need to let our own egos go and know when to rely on others. We are not experts in everything. No human is perfect and has all encompassing knowledge. Being a great leader means you know when to defer to alternative viewpoints. Business acumen in the organizational sense means you know when to put the success of the venture above your own ego.

The entire situation was made even more ridiculous when different leaders within the organization started opposing email campaigns so as to rally support for their personal viewpoints. Creating negative undercurrents will not unite a group towards success – it will divide them in frustration. Yes, frustration. While your ego might be screaming “I am right just because I am the leader” everyone else will be looking for the exit. It is just too frustrating to deal with decisions made for personal agendas rather than group success. Know when to defer – it doesn’t mean you are weak. It means you are well on your way to becoming a great leader with strong business acumen.

Yes, the organization will continue but believe me, I am looking for the exit…

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

How not to let your business be like a game of “telephone”...

2010-03-02T13:04:00.000-05:00

It is probably one of the most referenced childhood games and I just cannot resist using the analogy myself. In the game of telephone, one person whispers a secret word or phrase to the next and this continues until the last person announces what they heard as the secret. Of course, their announcement usually is not even close to what the first person whispered. The core message is lost in the communication through the filters. Clearly, this is a great analogy for business communications and it is understandable why it is used so often. I bring it up because I think it is also the foundation of a new television show, which I like very much, called the Undercover Boss.

If you haven’t seen it, the premise of the show is to take a corporation’s CEO and make them an entry-level employee for a week. This is accomplished by disguising the CEO as an unemployed person trying different jobs for a documentary. During the course of the week, the CEO fills five different jobs within their company. At no time is the CEO allowed to reveal his identity though the senior management is made aware of the undercover operation. It is usually messy and enlightening. At the end of the week, the various employees the CEO encountered are called to the home office and the reveal occurs. As a part of the reveal, the CEO addresses the issues that were uncovered and recognizes the hidden gems that were discovered. I will admit some doubters might think the situations are staged, and they very well could be, however there are still some great messages to be learned.

So, how does this tie in to the game of telephone and why do I think all of it important for business acumen? I am glad you asked. One of the resounding themes in the show is that messages and policies that come from the corporations’ executives don’t always get translated the way they are intended once they reach the front line. The Hooters manager pushes way past the line of acceptability in the manner he treats the “Hooter Girls,” countless perishable products are wasted at a 7-Eleven store instead of being donated to a local charity, driver productivity comes at the expense of treating female employees with respect at Waste Management – the CEO’s certainly didn’t intend these situations to occur but yet they did and probably still do across corporations world-wide. It is incumbent on us to make sure we understand the impact of our decision at every level AND that our message is communicated as intended. The two are expressly linked and only our attention to these details will ensure the success of our endeavors.

Easy for me to say? I say easy for everyone to do! Think of your employees as your customers. After all, they are your stakeholders too. To help with the process, here are some tips on gaining the knowledge of an “Undercover Boss” without the pitfalls of “Telephone:”

• Host events such as “Roundtable Lunch with the Executive” which can be a regularly scheduled lunch where the executives can interact with the front line employees. These lunches should offer a forum for honest feedback on policies from the employees while the executives get the opportunity to explain the underlying reasons. For larger companies, employees and executives can be rotated based on chosen discussion topics.

• Create a CEO blog and/or forums – this can be a great avenue for the CEO to promote his directions and messages IF it is done consistently and with a respectful tone.

• Regularly survey the employees. Find out what is working and what isn’t. Go further and discover the underlying reasons and address them. Show results to get results!

In the end, you must have the self-awareness to understand what you say and what is heard will be different. This self-awareness will heighten your business acumen. For more information about Undercover Boss, the show’s website is: http://www.cbs.com/primetime/undercover_boss/ . If you have any ideas for improved executive-employee communications please share them! We are all trying to find our successes together.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Repeat after me, “It is okay to say no!”

2010-02-16T11:00:00.004-05:00

It’s pretty amazing how easily we can become distracted by requests from the outside. Soon, these requests pile on each other until suddenly we are being pulled in a multitude of different directions. Ultimately, we can’t even remember which way we were going in the first place or how we got into this mess. We end up unhappy with our situation and we don’t know how to change it. This nearly happened to me this week and I want to share how I managed to stop it.

It started with a simple phone call. Someone had heard of me and had a small job opportunity that I might be a good fit for. I listened with interest but my instinct was that the opportunity wasn’t in a direction that I wanted to go in. Actually, it wasn’t a good opportunity at all and it would have been a bad fit for my strengths! Since it was a referral, I felt obligated to ask for more information. A subsequent email confirmed my suspicions that the role was of no interest and of extremely limited monetary value. It would be a major distraction to my own future plans but yet, I was still a little hesitant. The hesitancy came not from turning the role down, but from disappointing the person who referred me.

How often does that happen? We take on assignments, projects or roles because we feel obligated to someone else. Is it easier to say yes then to say no? I think it can be, which is the most frustrating of all. In this instance I should not have been referred for that position in the first place. Yet, I didn’t dismiss it out of hand and even asked two of my personal advisors about it. One of these advisors was slightly annoyed that I was feeling guilty about the situation. I am sure the person who referred me wasn’t feeling guilty. I fabricated the guilt out of a sense of obligation. My advisor’s message was clear; there was no guilt in saying no. He helped me see something that should have been of no consequence took a fair amount of my precious time. Of course there is only one person to blame for that – myself.

To obtain business acumen, we have to be clear about our direction and stay true to it. Don’t spend too much time considering items that are outside of that direction. Sound harsh? Not as harsh as it would have been for me if I allowed myself to be sucked into that role. It really is ok to say no. Honest. No guilt involved. When we say yes out of obligation to the requests that plague us, we lose our momentum. Once our momentum is lost, we become lost. It is better to say “no” upfront, than to become resentful at these outside forces. Don’t let your fabricated guilt be your guide. Remember, you have the power to determine your own success.

accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

The goal post is near…

2010-02-11T14:19:00.000-05:00

For the past few posts, I have been really focused on goals and I think it is time to wrap up those thoughts so we can move on. To do that, here are some final observations:

Going back to my last post, in which an executive was resisting the pressure to put goals in to place, I want to share the rest of the story. A few of us from the outside worked diligently at putting fair and reasonable numbers into place. These numbers were based on the previous year’s actual data. Unfortunately, the executive worked with one of the employees to come up with their own numbers. Their numbers actually result in substantial negative growth and their excuse was they didn't want to be "set up to fail." Our influence only went so far in this situation and the lower numbers were adopted by the overall organization. It is a classic example of why an employee should not be responsible for solely determining their own goals. Instead the process should be a collaborative effort based on actual data. Politics must be put aside for the betterment of the business entity. If someone cannot meet reasonable expectations, then change of some sort must be enacted. Am I surprised this happened – absolutely not! It just was another example of why I am usually hesitant to work with them.

In the example above, the executive never had goals before and really used the situation to avoid reasonable benchmarks for success. What the executive failed to realize is that setting goals doesn’t mean that the business is setting their employees up to fail. There is nothing wrong with reasonable expectations that hold people accountable for their job responsibilities. Regardless of their career level, employees shouldn’t look at goals as a form of punishment. Instead they are a pathway to ensure personal success. Even more importantly, goals are a key element in building trust between the business entity and its employees.

Of course, it takes more than goals. A collaborative effort of setting priorities and reviewing accomplishments are also vital to the process. Priorities need to be set, and even altered as needed, so the employee and the subsequent chain of command are in sync with the urgency that may or may not be needed. Don’t ever assume that a list of goals will be prioritized the way you want think they should be - engage the process so that everyone is together on what the order items need to be done and the reasons why.

Finally, when the goals are accomplished, acknowledge and perhaps even celebrate the success. Show that the employees that there are benefits to success. If people fall short of the targets, don’t immediately assess blame. Take the time to find out what when wrong. There could be many influencing factors and speculation won’t prevent it from happening again in the future.

Remember, the goal of most sports players and their teams is to celebrate a win. Why should it be any different for anyone else – individuals, businesses and families alike? Embrace the opportunities that arise in having goals as the keys to empowering your future!

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Yes really, your business MUST have organizational goals!!!

2010-02-03T18:04:00.000-05:00

I find it somewhat amazing the resistance you can encounter by just mentioning “goals” in a business setting. Are they really that bad? Ok, I’ll admit they can be. If the overall approach to goal setting process is reactionary then it will be a painful process for everyone involved. The situation can become worse if the business itself and its executives don’t have goals. If this happens, a chaos of conflicting expectations and misinformation can occur. This is actually something I encountered last week.

A business that I work with has been pressuring me to take on a project for them. Something about the project made me very resistant but I didn’t examine my reasons too closely. When the pressure continued, I gave in and looked at the project. What I found disturbing was that the only reason the business had to put this major change in place was that the business’s larger competitors used it. When I probed deeper and asked questions such as, “what is the expected ROI” and “what proof do we have that the customers want this,” I was met with this classic response “I just KNOW it will work.” HAH! How many times have we heard that! A business cannot implement changes on what they think their customers want – they need to be proactive in obtaining proof. How does this fit into setting goals? If you have goals, then you will use research to know what projects you need to meet those goals! In this situation, the questions I had opened an even bigger can of worms.

As I was asking these questions the executive I was working with, he diverted my attention to another issue he was having. He was being pressured to set goals and needed help with the numbers. Looking at the budgeted numbers, it became clear that annual revenue number was set without any real thought to how it can be obtained. It was merely a calculation off of last year’s number. Saying that a business will reach X amount of revenue dollars is fine but a complete plan on how will the business get there also needs to be in place. One of the basic questions in this process is: will the revenue number be obtained through existing customers or will new customer acquisition have to be stepped up? In this situation no one could answer that question for me! When I probed deeper, I found that most of the business’s efforts went towards obtaining new customers but these new customers only accounted for less than 10% of the annual revenue! If goals for advancing the business had been put into place, if the budget had been built with a thought of how it was going to be accomplished – if, if, if – the list of what should have been done goes on and on.

The executive didn’t, and probably still doesn’t, see the correlation between organizational goals and organizational projects. Don’t let your business have the same disconnect. Look at the big picture. Ask yourself where you want your business to go and what steps are going to be needed to get there. From there, you can determine realistic revenue targets, project initiatives, new hires and so on. It must start with goals and it must begin at the organizational level. Without them, the employees are on a rudderless ship just trying to take on every wave as it hits. Clearly that’s a business just waiting to be sunk.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

If you are frantic at home, will you really be any different at work?

2010-01-27T14:59:00.000-05:00

To continue the discussion about setting goals in your personal life so as to be better at work, I am going to start this post with a quote from Patrick Lencioni’s book "The three Big Questions for a Frantic Family" because I believe it can prove to be an epiphany moment for many business people.

“…most executives claim that family is more important to them than work. And most of them seem to really mean it. However, every one of those executives…would have to admit that they spend inordinately more time thinking about, strategizing about, and meeting about how to run their companies than they do their families. And yet they complain that life at home is far too reactive, frantic, and unfocused. Of course, this makes no sense…It might not occur to us that management tools from the workplace can apply at home. We don’t think about our families as organizations, and ourselves as the executives of those organizations. Additionally, I think many of us feel a little awkward, even embarrassed, at the thought of having a “strategic meeting” to talk about family values or strategic priorities. Who does that, anyway?” (Lencioni, 2008).

When I read this quote it makes me wonder, why wouldn’t a family do this? I mentioned in my last post that my husband and I have a “life’s to do list.” This list is an essential part of a strategic plan because it helps guide our decisions for life’s bigger questions. In addition to this list, we have done planning on a monthly and annual basis so we know what events are coming up, what needs to be done around the house and what we are going to do to improve ourselves. It isn’t a chore as much as cherished time together, talking and dreaming about our life. Yes, some of the conversations maybe harder than others but they help solidify us on our path. Early on in our marriage, we would write everything down in categories such as: health, family, home, careers, church, friends and fun. Using a notebook, we could check off the previous month’s activities and carry what was left undone over to the future. It was a great starting point to planning because we discovered more about each other. I still have that notebook on my coffee table and now we are at the point that has become integrated into our daily conversations. Just yesterday I spoke with him about the numerous family functions we have coming up in March so I am not springing them on him at the last minute – something that he hates. Being proactive about the routine home-life details frees up precious space in our minds for the countless other priorities that come up. We have found that being reactive to those routine home-life details creates chaos if left unchecked.

Now the approach taken in the book, with the use of a fable, has a little more “rose-colored glasses” perspective that might be a little hard to take for some but the overall message is strong. Questions that are posed include: What are your family’s core values and what should your top priorities be? Using questions such as these, in whatever format works best for you, should lay a strong foundation for you to build your family’s strategic plan.

Truly I know all of this may sound “pie-in-the-sky” and if it sounds that way to you then please ask yourself these questions:

Are you really where you want to be?
     If not, do you know where you are going and how you are going to get there?

Are you overwhelmed at home and at work by the sheer volume of everything?
     If yes, how can you change it?

Are you less than your best at work because of life’s other pressures?
     If yes, how will your business ever succeed?

If we are not at our best at home, then we will never be at our best at work. By applying some of our business acumen principles we can create a better balance and achieve greater success in both aspects of our lives.

If you would like more information about "The Three Big Questions for a Frantic Family" here is a link to Patrick Lencioni's website: http://www.tablegroup.com/books/frantic/

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

The dreaded season of resolutions

2010-01-21T14:39:00.000-05:00

So here it is another January and of course it is going by way too fast. How many broken resolutions are out there already? Just the thought might be sending you into a panic but instead of looking on resolutions as a way of torturing yourself into a new behavior perhaps resolutions should really be an opportunity to set goals for the future. After all, without goals how do we know where we are going and what we are doing? For this post, I am going to look more on a personal level because to obtain business acumen we need to take care of ourselves too. I hope this discussion will develop over the next few posts through a business all the way up to executive goals.

Personal goals – where to begin? For a simple level, I think it starts with two questions: Where do you see yourself at the end of this year and what steps do you need to take to get there. Thinking with those two questions might guide you to in different categories such as family, home, health, friends, community, education, religion and so on. Approach this as you would in your business - create a list or tool that you can measure your progress against. It doesn’t matter if it is hand written in a notebook or an elaborate spreadsheet but make it so it speaks to you personally. Something that will keep you focused on the steps you need to take to accomplish your goals. Put the items as tasks on your calendar and hold yourself accountable. It is your future after all. There will be some goals that are easily accomplished while other items might have to be deferred due to unforeseen circumstances. All of that is alright as it is a process that needs to evolve to move forward.

Don’t believe me? Don’t think you have an hour to spare for this exercise? Fine, but think about next December 31st. Do you want to be celebrating the success of your accomplishments this year or woefully thinking about your failed resolutions? By spending a little time now to create your list and then dedicating a little time every month to check in on your progress you will create your path. You owe it to yourself to put your life’s plan in place.

But it doesn’t end have to end with the year. If you really want to get a little ambitious and dream a little, create your bucket list – you know, “everything you want to do before you kick the bucket!” My husband and I did this a few years ago and call it our “life’s to do list.” It has everything from the typical, such as finding fulfilling careers, to the extravagant, including living by the ocean someday. We might not obtain everything on that list but it is a guidepost for our lives. In thinking about our year ahead, we are trying to figure out if this is the year we go to the Indy 500 or maybe next year it’s Hawaii for our 10th anniversary (both destinations are on our list). Most of all it’s just fun to think about and strive for the future. It keeps us going and it is one of our strongest common bonds. I highly recommend this exercise to anyone – single, couple, old and young – your demographics don’t matter for this exercise what counts most is your will to want the best out of your future. Additionally, I do think that future goals are constantly changing with time and on that note, one of my goals for this year is to plan time when we can update our own list. Checking off accomplishments only opens the door for new additions to the list!

It may seem that this is one of those topics that is “easier said than done.” Really though I don’t think that it is really the case. In our business lives, we have goals and are judged by our accomplishments – why should it be any different for us in our personal lives? This post just skims the surface and if you want to discuss this more in more detail please contact me. I am convinced that setting your own personal goals will help you to never regret a resolution again.

Next post will take this just a little further and will discuss a book called the “Three Big Questions for a Frantic Family” by Patrick Lencioni. This book takes the business planning concept and applies it to a family. I really like this approach because by being happy at home takes some of our stress off at work. After that, it is back to a business setting.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Don't make an interview just about the past

2010-01-12T16:19:00.000-05:00

Just before the holidays I wrote about a post about my adventures in interviewing. A recent article I read made me realize there is more I want to say about the process. In the January/February 2010 issue of Money magazine there is an article called “The Secret to Acing the Interview” by Cindy Goodman. The article discusses how a candidate should perfect their “elevator pitch.” While it is interesting and probably useful information, I fear that it is also very clichéd as is a great deal of the interviewing advice that is out there. I have seen countless pieces written on the “elevator pitch” but I really don’t want to pick on just one aspect of interview advice articles. Actually, to prove my point I go back to the post I wrote about a horrible interview experience where I had to share the reception area with another candidate who arrived to interview for the same position. There was a hidden epiphany in that moment that I am only now realizing its importance.

In that situation, I watched as the other candidate arrived the standard 15 minutes early, asked to use the ladies room and after tried to make impressive small talk with the receptionist – including asking about awards on the wall and how nice everyone seemed. Wait a minute – that sounds familiar?!? Horrified I realized I had done many of those same things! Of course, I was so disgusted with the company at that moment that I pushed the horrified feelings aside. Looking back now, just as my actions were based on the plethora of interview advice articles, it is clear that her actions were too.

The realization that many of us are reading the same articles makes me really want to stand out in a genuine way. I want to show my business acumen and not only that – I want to prove how it can be of value to the very best of companies. I really feel this is important for all of us to remember. In perfecting your “elevator pitch” or showcasing the very best of your past, I think the most important component is missing. An interview should not be so myopically focused on the past or on the candidates themselves. To be successful, the interview process should paint the picture of how integral the candidate can become to the company’s future. This takes research on the candidate’s part. He/she needs to look deep into a company’s website, to go on Linkedin and to use any way possible find everything out that can be found out in the formulation of a plan for the future. Of course it may not be a complete picture but it has to be an honest and realistic picture. This will help candidates to truly make the most of valuable time in front of an interviewer. It is a practice that I have used in the past. I don’t go into an interview without conducting as much research as possible on the company and often I will bring a printed PowerPoint presentation with me as a leave behind. This presentation paints the picture of how I can fit into the company’s business model and it is why I know I am a strong candidate who is waiting for an equally strong company.

To be fair, I don’t want to leave the companies out of this either. They shouldn’t become so wrapped up in a candidate’s credentials, GPA, resume buzzwords or other tricks. Don’t hire a candidate based on what is on paper but rather than what they really can bring to the table. Look for the ones that display business acumen in their approach to your time together and their plans from the future. To do so will help you stockpile your talent to ensure that your company and your employees can achieve the successes they so richly deserve.

Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

Connections are more than names in your Blackberry

2010-01-07T18:03:00.000-05:00

Once again my planned topic for this blog must be delayed for a recent situation that is far too important not to be shared. Unfortunately in this case the delay is due to the loss of my dear friend Judy Tralla Franklin. This week’s post is a tribute to her friendship and guidance which helped me greatly in my life’s journey. Jude, thank you doesn’t seem to be quite enough for all you brought to my life. Those of us who had the honor of calling you friend already miss you so very, very much…

How many of us have names in our electronic contact lists that we barely even know? In contrast how many are names of true connections – you know, people who, at one time or another, made a real impact and difference in your business life. Possibly rarer still, how many people have you helped and made a difference in their careers? I was blessed to have a manager who moved beyond a typical business relationship. She saw my potential many years ago and who encouraged me to live up to that potential. This encouragement ultimately reached the point where she pushed me to seek better opportunities, even though it meant me leaving her at a place of employment which was a mess. She knew I could do far better elsewhere and put my best interests above her own. That manager became my dear friend Jude.

Close friendships in business can be taboo but yet it is in these situations where I seem to thrive. After all, I met my husband at work and through the course of our relationship we were both promoted several times. In the one place of work where I was expressly forbidden from having friendships I was extremely unhappy and disengaged from the organization. Needless to say, I left even though it was a good position. Upon reflection, the correlation between the connections that are made and my job satisfaction is strong. This correlation is explored in-depth in the book “Vital Friends” by Tom Rath. The book uses research to support the theory that we shouldn’t discount the value of business friendships as they actually can significantly increase the engagement of employees. It gives real-life examples of the power of friendship in businesses and the consequences when those friendships are forbidden.

Unsure about this “mushy” stuff? Consider this quote from the book: “Everyone talks about the need for work/life balance – but it might not be that easy to separate the two. Your personal life doesn’t stop when you get to work – and you don’t stop thinking about work when you go home at night. Indeed, if work doesn’t even enter your mind at night or on the weekends, this doesn’t necessarily mean that you’ve attained the elusive work/life balance. It’s more likely an indicator of how little you care about your job (Rath, 2006). Not caring about a job is one of the biggest detriments to achieving business acumen. I have written about this before - If you aren’t engaged in what you are doing, how will you ever achieve success?

Creating an environment in our business life that includes a focus towards improved connections and fostering relationships will increase our business acumen. As businesspeople we want to care about our jobs and to do so we need to be more aware of situations that our colleagues, subordinates or customers may be facing. By reaching out to them in with an honest effort of support, we can strengthen our bonds and create a better environment. Yes, there are needy people out there who always seem to be in crisis – I am not referring to them – I am saying reach out to someone you might have something in common with or who just seems to be having a bad day. Invite someone to lunch – talk about anything but work. If you like something someone did – praise them! There are countless ways you can establish a true connection. Read the book – it will give you tips on how to get started. Take that first step; you might uncover a friendship that can change your life. I am so incredibly thankful that Jude took that step…

One short post doesn’t seem to be doing enough justice to what I feel is an extremely important aspect of obtaining business acumen. To learn more about the book, Vital Friends, please visit the website at: https://www.vitalfriends.com/ . I truly believe it is worth your time not only to read the book but live by its advice.

Just walk away...

2009-12-17T10:30:00.000-05:00

Recently I have found myself in several interview situations which left me really appalled at the lack of business acumen that was displayed. I am going to share one of these stories with the hope that it helps interviewers, as well as candidates, make the most of opportunities.

It started with a simple email inviting me to an interview. The company seemed to have a very professional approach and through the emails that were exchanged I was initially impressed. In these exchanges, they sent me in-depth information pertaining to the position, which I was able to use to create a presentation of what I could offer in this role. I spent many hours compiling this document and studying it so as to be fully prepared for my interview. My preparation even included a “drive-by” the location, which was in a city setting, so as to locate parking.

The day finally arrived and my preparation seemed to pay off. I arrived the customary 10-15 minutes early and was ready for action. I took a seat in the reception area and began my wait. And, I waited. And, I waited. Finally, 20 minutes after my appointment was scheduled to begin, two gentlemen came out. One was a candidate for the same position I was interviewing for and the other was the interviewer. Definitely awkward! What made it worse was the interviewer didn’t even offer an apology. Honestly, I was somewhat offended. Did they not value my time? If they couldn’t properly schedule interviews, what would it be like to work for them?

I didn’t say anything and the tour and interview proceeded. The general atmosphere of the company was strange. People were working in isolated offices with minimal interaction. For the first 45 minutes, the interviewer didn’t stop talking long enough to ask me a question! When another interviewer joined us, it was clear to me that they had not reviewed my resume or presentation. While I was prepared, they were not. Sure the job was a perfect fit for my abilities and skills, but I left with serious reservations about their culture and my experiences there. Since the actual job duties where very close to my capabilities, I proceed to send a follow-up thank you and I accepted the opportunity for a second interview.

When that day arrived, once again I arrived 10-15 minutes early. Can you see where this is going? I waited and I waited and I waited. 35 minutes passed. Not only was I waiting but the candidate who was to be interviewed after me arrived and was waiting with me! It was ridiculous. On top of these indiscretions, many of the people that I was supposed to meet with were walking around and never stopped to apologize and explain. This was the second time it happened and with such blatant acts of disrespect, I walked. Yes, I walked out. I don’t care how intriguing the position might have been; clearly the culture would not have been well suited to me. If they couldn’t display common courtesy and manners in an interview situation, what would it have been like to work for them?

A few days later I received an email. It included an apology, a note that they considered me a strong candidate and of course a very defensive explanation of their actions. They didn’t get it. I knew I was a strong candidate – they didn’t need to tell me that as a person knows when they have aced an interview. They completely missed the point that while I may have wowed them, they certainly did not wow me. Their lack of business acumen cost them a strong candidate. Companies need to remember that they are not only interviewing a candidate, they themselves are being interviewed. On the other side, candidates really need a critical eye when looking at a company. Sounds harsh? Think about it – is it better to take a job regardless of the warning signals and be miserable OR is it better to walk away and wait for the right opportunity.

To sum it up, here are your take-aways for this week:

1. On both sides, first impressions count as do seconds and thirds. Make the most of these opportunities.

2. Companies, please act with courtesy and respect. Act as if you were the candidate. Be prepared and be on time. If you are unavoidably late, make the candidate comfortable. Bring them to a conference room or office so they are not in an uncomfortable situation. Show respect to win the strong candidates. By doing so you are embracing business acumen and attracting the best people to move your business forward.

3. As for candidates, in preparing to present yourself don’t forget to look closely at the whole picture. Look carefully at interactions and culture. Admittedly, you might HAVE to take a job but if at all possible make sure it will be a good fit for you, not only in the sense of capabilities but also what you want in an atmosphere. Don’t be afraid to walk away. Something better awaits – I am sure of it.

The age old adage applies here: treat people as you want to be treated. To do so will only increase your business acumen. Remember, business acumen is more than numbers - it includes the entire experience share by customers, employees and prospects alike. Embrace it and you will prosper. Ignore it and they will just walk away.

Finally, I hope you enjoy a wonderful holiday season. I look forward to sharing more stories with you in the New Year and I truly hope we find our successes together.

Just because it is entertaining doesn't make it real...

2009-12-08T19:26:00.000-05:00

Last week I discussed the need to separate reality shows designed for entertainment from the reality of day to day business. It is such a compelling topic that I think it deserves more than one post, so here is a continuation…

In the camera angles of reality television, producers of such shows are looking for controversy and drama rather than a full description of the actual events. Who will undermine who and who will be eliminated become the dominant themes in short snippets of footage of a nearly impossible task. Forget the details – instead continually replay the shots that will create the most buzz to increase ratings. Also, condense days filled with many narrowly focused players into about 35 minutes of content. It is a formula that goes for the cheap shots that will play well in the previews. It is an approach that all too often translates into business through hasty judgments and subjective opinions that are based on incomplete facts and office gossip. Business judgments can be inconsiderate and grossly incomplete. Who among us hasn’t been hurt, probably on more than one occasion, by these situations? Who among us hasn’t wished that people would look at the entire situation before passing judgment? Who among us has actually made decisions based on hasty judgments?

To expand upon the thought of achieving better business acumen through improved judgment, consider this…how do you want to be judged in your particular business setting? Remember – judgment doesn’t just come from the people you report to. In business we are also judged by our customers, peers, mentors, subordinates or even external forces such as the media and public opinion. With any of those groups, would you want to be judged on one narrowly focused effort or event? Sure, if that effort suits your strengths than the judgment may be great, but, how often is that likely to happen? Sometimes we have a bad day or miss the mark on an effort. There may be countless other issues to consider such as a shift in priorities or a technology failure. Rather than taking the “Project Runway Approach “of such myopic scrutiny, shouldn’t we allow for the consideration of the entire situation?

By looking at the overall picture and trying to understand the different aspects of an individual situation, a more comprehensive judgment can be reached. While most of us don’t have idle hours to spend on every exacting detail, we can’t use that for an excuse. In dealing with judgments it is incumbent upon us to make the time. Because a quick and hasty approach plays well on television doesn’t mean we have a free pass to behave the same way. We must rise above the fray to be as impartial as possible. Admittedly, that is not always easy. In rising above we might have to face our own shortcomings or those of our organization – but isn’t that the point? Shouldn’t we face these shortcomings head on so as to have a clear view of our business reality and understand what it needs to succeed? Remember, this clear view cannot be clouded by the haze of what is produced for entertainment purposes – it has to be based on the development of sound judgment skills.

As I mentioned in my previous post, I do like some of these shows. I admire the innovation seen in the designs of Project Runway and it can be entertaining. As business leaders, we just have to remember that what is entertaining might not be real. By separating fact from fiction, we will continue on our road towards better business acumen.

Avoiding the Project Runway Approach

2009-12-01T18:07:00.000-05:00

Happy Holidays and welcome to what should be a gracious time of year. I have been gathering more experiences to share with you over the last few weeks and can’t wait to write about them. First though is a post that I have wanted to write for a long time…

Over the past 10 years reality shows have really taken hold of our culture. What started with glimpses into personal situations has evolved into staged business settings. From the Apprentice to Design Star to Project Runway, people are putting their professional lives in the hands of reality show producers. Before I go any further, here is my disclaimer – I have watched some of these shows and really like Project Runway, my chosen example for this post. The designers are amazing to me as I love fashion but cannot sew more than an emergency repair. That being said, to achieve and maintain business acumen we must separate how a television show is produced and edited for an entertaining 60 minute time spot versus how we act in our everyday lives. After all, do we want to go around thinking that “one day we are in and the next day we’re out?”

This line is often spoken by one of the hosts of Project Runway and could be extremely detrimental if it were to be used in a true business setting. Think about it - what kind of confidence will a statement like that inspire? “One day you’re in and the next you’re out?!” Would that make you want to go to work every morning? The decisions about who wins and loses on a Project Runway-type show are based on subjective opinions. The entirety of a designers work is not the basis for elimination decision. Instead the television producers chose a format that requires a decision that is dependent on a single project. In addition to the threat of having their projects judge in a singular and subjective manner, the designers perform their work under extremely trying conditions such as severe time constraints and/or limited materials. Day in and day out, over the course of the show there never seems to be enough time to work, sleep or function as a normal human should! Seemingly all of this would combine to increase ratings as people tune in to see who cannot make it and is voted off but we absolutely must not let this mindset translate to our businesses. Let me repeat that – we MUST NOT let these reality shows, designed for our entertainment, influence the way we conduct business.

To grow and thrive, people need the freedom of being challenged without the threat of dismissal. To live under such a threat would shatter anyone’s confidence. Without confidence, you cannot obtain business acumen. Period. No debate on this one. We shouldn’t drive to work thinking that if we make one mistake we could lose our job. Of course, I am not talking about extreme situations – I am referring to judging someone on the entire course of their work. We are human and we make mistakes. It is better to take a calculated risk and be wrong, then not to take the risk at all. As leaders we need to be gracious and accept that not everyone is perfect all the time – ourselves included. By raising our level of graciousness and taking a professional approach in situations of judgment we can set an example for those around us. The goal is not to be a harsh judge of a nearly impossible task. Business acumen will flourish when we meet challenges as a team and create confidence that it is better to try and fail, then not to try at all.

A book and a cup of coffee

2009-11-10T18:42:00.000-05:00

In life, most of us are leaders in one capacity or another. You don’t have to be a CEO to be called a leader. Skeptical – have you led a project, a community service organization or even a household? There are many aspects to leadership which stretch beyond the traditional business role. Relating to them helps to sharpen our awareness and leads heightened business acumen. I am opening this blog with this reminder because I am going to focus on Strengths Based Leadership by Tom Rath and Barry Conchie and I don’t want anyone to pass it over because they may not be a traditional business leader. Leadership applies to all of us in one form or another and we should embrace leadership lessons as much as possible. More on this in the future, but for now, onto this week’s thoughts…

In last week’s post I discussed how we should embrace our own strengths instead of those of someone else. Now let’s take that one step further. As leaders what if we try understanding the strengths of those we are leading and use them for the benefit of the team? Taking this positive approach will yield positive results and is the core foundation of the Strengths Based Leadership book. How does this tie back to business acumen? Going back a few weeks, I posted a definition of business acumen from CEO online that included “motivation of staff.” To motivate your staff you need to know your staff.

To know your staff you have to go beyond the surface. People are more than the tasks they are assigned. Do you know how they like to work, what their goals are and if they have ideas for improvement? What are their strengths and how can they be utilized? Are you missing opportunities because you don’t know your staff’s thoughts and ideas? What effort have you put into finding what they are? People find motivation when they feel engaged. This extends to having their strengths used. Think of yourself for a minute – how often have you had a leader that helped your level of engagement by pushing you towards your strengths rather than picking apart your weaknesses? There are times when those leaders seem to be the exception more than the rule. The funny thing is that it not hard to do.

An executive I know really embraces the concept of engaging his staff and Strength Based Leadership. So much that he has given each of his staff a copy of the book – but not in the typical way of just handing a person a book – he makes a personal effort. Whenever possible he takes the person to the local bookstore and buys them a copy. They might have lunch together before they go or they stop for coffee while they are there. He uses the purchase of the book as a connecting point in their relationship. Not only that but he follows up on their assessment and uses it to help them in their career.

Imagine that a simple book and a cup of coffee can actually help change an employee’s experience. Something so basic can go so far and yet it is often overlooked. Personally, I have never had a supervisor make that effort with me – have you? Most of my previous supervisors were too busy pointing out what they considered to be faults than promoting my strengths. In whatever your leadership capacity may be, please take this lesson and make it an opportunity that focuses on strengths and improved engagement. The results can only serve to increase motivation of your staff and your own business acumen. To think, it may just start with a book and a cup of coffee…

To take the Strength Finders assessment and learn more, simply purchase the Strength Based Leadership book. It comes with a code that allows you to take the assessment and receive a profile based on your results. If you missed it last week, here is a link to the website: http://strengths.gallup.com/110440/About-StrengthsFinder-2.aspx.

Focus on strength

2009-11-03T10:58:00.000-05:00

I am going to start this week’s blog with a rhetorical question: “Why do we worry so much about our weaknesses instead of spending our energy on our strengths?” Does all of that worrying really get us anywhere?

No, of course it doesn’t and it is part of the premise of the Strengths Based Leadership book by Tom Rath and Barry Conchie. This book is just one of many written about a thirty year research project undertaken by the Gallop organization called the Strength Finders assessment (Conchie and Rath, 2008). What I like about Strength Finders is that as the name implies, it focuses on an individual strengths through a series of questions. The research found that there are many different strength traits that can be categorized into four categories: Executing, Influencing, Relationship Building and Strategic thinking. I don’t want to go too far into this as I think you should take the assessment and learn for yourself. I do want to note that the Strengths Based Leadership book continues the research into the topic of leadership. This week I am going to talk a little about the necessity of knowing your personal strengths which will lead to next week’s topic of using this process as a leader.

Side note - to take the assessment and learn more simply purchase the Strength Based Leadership book. It comes with a code that allows you to take the assessment and receive a profile based on your results. If you missed it last week, here is a link to the website: http://strengths.gallup.com/110440/About-StrengthsFinder-2.aspx.

Now, I am not advocating that in focusing on our strengths we should abandon self improvement projects. What we need to do is ensure in the process of growing and improving, we don’t forget to capitalize on our strengths. As human beings we have unique talents. By using a tool, such as the Strength Finders assessment, we can key in on our individual strengths and talents as a way to improve our business acumen.

Is it really that important? Yes, I really believe that it is and here is an example of why: Is there someone – a leader, a friend, a family member, even a public figure – that you try to emulate but don’t quite succeed? Do you try to model your business style on that of your supervisor but you don’t get the same results? It can be so frustrating! You end up spinning your wheels to become someone that you are not. That frustration may even lead to a feeling of disillusionment or loss of motivation. Those feelings certainly won’t sharpen your business acumen!

Instead of trying to use someone else’s strengths, what if you used your own? Imagine the possibilities - taking this approach will probably keep you more engaged and interested in your business. This motivation will lead to better business acumen. As a personal example, one of my strengths as assessed is being strategic. Having strategic in my strength profile indicates that I can easily problem solve and like to look at different angles of a problem. By knowing this I can focus on situations that allow me to use these skills for my own fulfillment and to the success of the organization. The use of my strategic component will be an advantage for me because successes in solving issues will serve to increase my motivation. Additionally, it will be an advantage for my business because my strength in problem solving will be utilized for its benefit. It’s truly a win-win. On the other side, if I were to go into a situation where the problems were solved for me and I just had to execute the plan, I would be miserable and unmotivated. Certainly those are not qualities one would associate with business acumen!

It’s important to note that one strength is not better than another. They are all equal and our individual combinations help make us unique!

As I mentioned before, next week I am going to move this along further by discussing how we should use Strength Finders in our leadership of others. Until then, embrace your strengths and make a difference in your workplace. May we all find our successes together!

Getting trapped by the latest buzz

2009-10-25T15:47:00.000-04:00

If you follow pro-football, and if you don’t please don’t be scared off as this will make sense to you too, the latest buzz is the trend by the Miami Dolphins in using what is called a “Wild Cat” offense. This play is to swap out offense players in an unconventional way. It is working quite well for them right now and more teams are trying the same strategy. There has been vigorous debate as to whether or not this play is a gimmick and when it will stop working. One of the Sunday commentators on CBS’s NFL today football show made a statement that was so profound that I instantly knew it was the perfect analogy for this blog. He said that the Wild Cat is not a gimmick for the Miami Dolphins because they have the perfect combination of talent to make it successful. For other teams, it would be a gimmick because they didn’t have the proper talent to make it work.

“Combination of talent” - the same holds true to achieve business acumen! A significant part of business acumen is to know your players and how to best utilize them. We need to develop our business strategies based on the talent we have NOT the latest business buzz words.

Here is an example of how this happens in everyday business. Take a minute and think about the conferences or seminars you might have attended at some point in your career. It might have been an association event, like the Direct Marketing Association, or a software seminar or just a workshop on leadership. Do you remember walking out and thinking – WOW – we can try this or do that! It is an energizing feeling. You walk into your office ready to make sweeping changes based on the take-aways from the learning experience. You try to share your newly acquired knowledge with anyone you can trap into listening. It may go as far as to have meetings on setting the changes into motion.

Then, in many cases, the steam runs out. Problems arise, other priorities take hold and those sure-fire ideas flame out. It’s even worse when it is your supervisor or a higher-up. THEY come back all fired up and expect YOU to make it happen. Now, I am not saying these events aren’t important –they can be – but I want to focus on the take-aways. Those take-aways are like the Wild Cat offense. They will work for some but not for others. In order to achieve business acumen, you need to know the capabilities of your talent and judge whether or not you have the right combination to make it a successful strategy.

My goal for the next few weeks is to offer some ideas and strategies for knowing your capabilities and those within your business. It is the theme that I will focus on and until then I encourage you to read Strength Finders and to take the assessment. Check out the website at: http://strengths.gallup.com/110440/About-StrengthsFinder-2.aspx. I found this very enlightening about myself and will try to use it as the foundation for next week’s post.

As always please post your comments and tell your coworkers and friends about this blog. Let’s find our successes together!

What is business acumen anyway?

2009-10-18T10:36:00.000-04:00

In the weeks since I started this blog the question of “what is business acumen” has come up numerous times and from some surprising sources. One such question even came from a person who has an MBA degree! This really made me see that I should take a step back and describe business acumen and how I am going to use it as the basis for this blog so here it goes…

If you “google” business acumen there are 1.7 million search results. Clearly we don’t have time for that! I found a definition at CEO Online that really fits the intent of this blog: “Organizational business acumen is maintaining focus on business opportunity by building the capacity and motivation of staff to meet clients’ needs and maximize investor return.” This description shifts the focus away from strictly a financial view to a wider perspective. Often business acumen is tied to financial issues but a business’s lasting success relies on more than just numbers. My goal is to explore the wider perspective to highlight how we can make the most out of our business lives and I will use the aforementioned definition as a roadmap to meet that goal.

Why should we strive for business acumen? There are many aspects to this answer and I will cover many of them in the weeks to come. Until then, here are some questions to ponder:

As leaders, how can we expect our employees to serve the needs of our clients if we do not attend to their needs first?

What if as a leader or a subordinate, you don’t meet your own needs? Is that really going to move the business forward?

Are you so entrenched in your processes that you can’t see clear enough to take advantage of opportunities that are passing by?

Do you dread telling your staff about an upcoming change, knowing that you will be faced by negativity and resistance?

How often do you communicate your ethical standards to those around you and do you trust them to uphold those ethical standards?

These questions just scrape the surface of business acumen. If you have a staff of one or one thousand it is incumbent on you to ensure that they have the motivation and tools needed for success. AND – it’s not just for leaders to pass down! As noted in the CEO online article: “Staff who can demonstrate their business acumen are more successful in developing their career.” By sharpening our business acumen, we can add value regardless of our professional level! If you are an hourly employee or a CEO, there are benefits to be gained by honing business skills.

Just as I followed the theme of “believing” for a few weeks, as I write this blog I will continue to choose themes to sharpen our awareness of business acumen. Hopefully these themes will help us to answer the questions above and many more. To get you started, please check out the article I quoted in this post. It’s titled Building Business Acumen that Adds Value written by John Cleary of Blue Chip Consulting Group and can be found at: http://www.ceoonline.com.au/expert_talk/marketing/competitive_advantage/pages/id30001.aspx
It includes more questions you should ask yourself in judging your own business acumen. Please post a response or send me any questions about this or other business topics you might have.

Let’s all find our successes together!

Believing part 4 - Moving on...

2009-10-05T19:23:00.000-04:00

Discussing the concept of believing over the past few weeks has been very motivational for me and hopefully for you as well. It is inspiring to think of achievements and success stories and it is exciting to imagine untold possibilities. However, I would be very remiss if I didn’t go back to finish my thought of two weeks ago. I was recounting the story of a presentation and an audience member who had fallen into the trap of negativity. I wrote that “clearly the audience member lost faith in the organization and its audience. He refused to believe that any effort was a good effort and instead thought that whatever the organization tried was a waste of time.” This story was to serve as the baseline for the flip side of believing – it is the ability to understand when it is no longer realistic to believe.

Tough stuff! When do you draw the line? As employees, how many of us have left for work in the morning thinking “I can’t stand my job” and wishing for a way out? Whether it is a supervisor that we perceive as being difficult, a job function that doesn’t inspire us or a company that has different values from our own, there are many different reasons why most of us, at one time or another, have “hated” our jobs. If you are in that “mental/emotional” place, it is nearly impossible to turn off that negativity so as to believe. This also applies to other areas in business besides being an employee. As leaders, have we ever done a task because we didn’t believe our employees could handle it? Do we assign tasks not because we believe it will add value to the organization but because it was assigned within the chain of command? As members of our various business communities, are there people within our communities that have lost faith and openly express their negativity? These situations are more prevalent than we either realize or that we want to admit. To do so would force us to face the stark reality of deciding to move on.

Moving on - it is a complex and powerful thought. When is the appropriate time to cut the ties? For the sake of clarity I am going to try to offer examples of moving on in the following three paragraphs:

In the situation of my presentation, it is pretty clear to me that it is time for that member to leave the organization. Not because he is a bad person – he’s not. Not because he disagrees with one issue –it is bigger than that. He needs to move on because he has gone as far as he can with the organization. He doesn’t believe. To thrive, organizations need people to believe as much as people need a place where they can believe and therefore thrive. It is a circle that has points along the arc. If a point is broken, the circle is not complete.

In my own career, I have been in the broken circles. I lost faith in an organization that I had a successful career in. I was staying because I believed I had to – I owed it to the company that had done so much to get me started. One of the hardest situations I have ever faced was acknowledging that there was no going back – the organization had changed in a way that conflicted with my own values. I couldn’t believe in it so therefore I couldn’t stay there anymore. In these situations it is very easy to second guess yourself. Maybe it will get better. We start to ask: What if I try to change my attitude? Should I just put up with it and not care? Where would I go? How do I begin again? Looking back, if I had stayed another year or 10 years, the end result would have been the same. I was sinking into misery and negativity. It was a fast and hard downward spiral. My only regret is that I didn’t leave a year earlier than I did. The signs were clearly there – I had to move on.

Finally from a leadership perspective we owe it to ourselves, our organizations and to our employees to carefully consider whether or not it is time move on. Moving on at this level might include cutting product lines, taking a different management strategy or simply letting a non-believing employee go. These might be among the hardest topics within the concept of “moving on” because our decisions to improve situations might actually seem like we are harming some people in the process. However, if it is done ethically and with honest intent hopefully it will lead to a better future for all who are involved.

This leads to my conclusion: part of the decision process of moving on is the determination to believe in a better future. Moving on is the commitment to take action that will bring more value to ourselves and our organizations so that we may be as successful as possible. As daunting as it may seem, it can and should be done. If being successful means believing, then we owe it to ourselves and the people around us to believe and to be prepared when it is time to move on.

2009-09-28T23:50:00.000-04:00

Believe Part 3 – And they soared.

Over the last two weeks I have discussed the need to believe in yourself and your company. I had planned on wrapping up the topic this week but its funny how life will provide fuel for what’s on your mind. I am going to delay the wrap up and continue with the concept of believe.

Last week, I was vacationing in the Outer Banks of North Carolina with my husband. As with many vacations, we had a list of “touristy” places to visit – some of which we were excited about, such as climbing the Hatteras lighthouse, and some of which seem to be more of an obligatory activity simply because we were there. This was the case of visiting the Wright Brothers memorial. After all, as avid travelers we really felt we should pay homage to the men who were the first to fly under their own power but the visit was more of a “should do” than a “must do.”

Without much thought or excitement, we pulled into the memorial and paid our admission. Heading first to the visitor’s center, we could clearly see an open, grassy area that had various granite stones. As we toured the visitor’s center there were numerous portraits of the firsts. The first female to fly, the first man to break the sound barrier – there were countless portraits of men and women who took those first steps. Okay, at this point our spines were tingling a bit and the awe we felt was starting to grow. These were people who believed in their dream and followed that belief!

Next we saw the timeline of the years the Wright Brothers spent working towards their dream. Years! It didn’t happen for them overnight. It didn’t come easy – they reached small milestones bit by bit. They sacrificed and suffered all because they believed in their goal. Don and I didn’t realize that they had isolated themselves in the Outer Banks. At the time, the Outer Banks weren’t filled with beautiful beach houses and restaurants. It was a rustic and tough existence. The brothers lived in a small cabin and faced scarce company and food supplies. Personally, Don and I always thought they just kind of showed up at Kitty Hawk and flew a plane, but that wasn’t the case. They had to build an engine, build their own wind tunnel, build a propeller, build a steering mechanism, build a launch mechanism, build a hanger, build a cabin and so on. They even borrowed a sewing machine to sew the muslin used as wings on the plane!!! There weren’t any blueprints. No internet to provide research. It was only their all consuming passion to reach the goal which they so strongly believed in. With so many odds against them, why did they leave their bicycle shop??? They believed. The bicycle shop was merely an ends to the means. It provided a foundation for them to fly. By this point in our visit, we were completely hooked. I whispered to Don, “Are you as moved as I am?” and he was. But it was only the beginning

As we moved outside, we realized what those various granite stones were for – they marked the landings of not only the first flight but also the second, third and fourth! They didn’t stop after the first, they believed that they could do better and they did. Each landing site was further than the previous, with the final attempt lasting 59 seconds. It seems like such a short time span to us but for them, on that day, it must have seemed like forever. The Wright Brothers kept pushing because they believed. And in return, they did more than just fly. They soared!

Can you imagine the glorious feelings on that December day? After all the countless details, failures and struggles, they soared. As we were taking in this realization, I came across a plaque at their takeoff point. It quotes a passage written by Orville to his sister Katharine in 1901, which was two years before the first successful flight. It reads: “Our first experiments were rather disappointing. The machine…at times seems to be entirely beyond control.” Wow – how many times do we as business people undertake endeavors that seem totally out of control? Yet we do it because we believe there can be a better way. To achieve success in our initiatives, we need to rely on our intuition to believe. Without believing, you are grounded.

The next part of the plaque was even more inspiring to me. It reads, “The 1901 experiments at Kill Devil Hills were considered to be a failure. Orville later recalled Wilbur, on the trip back home to Dayton, stating in frustration, “Not within a thousand years would man ever fly.” Now most, if not all of us, experience doubts in life and clearly this was a moment of doubt for Wilbur. Imagine what the end result would be if they hadn’t continued? Man was destined to fly. If it wasn’t the Wright Brothers, then it would have been someone else. If it was someone else, everything the Wright Brothers went through, all of their efforts leading up to that point would have been lost. Their beliefs that man could fly guided them passed their own doubts and they soared.

Throughout our time at the memorial, we kept coming back to the irony that I had been writing about the power of believing. Here was actual proof that it really works! It’s only natural to have doubts but we do have the power to overcome them. We can soar above those seemingly impossible problems that face us as we walk through the doors of our businesses. It may take creativity, ingenuity or just pushing beyond the limits we have set for ourselves – but I am even more convinced now that we can get off the ground if we believe. We can soar!

As always, thank you for believing in me. Let’s find our personal successes together!

For more information about the Wright Brothers memorial, please check out this link:

http://www.nps.gov/wrbr/index.htm

Believe - part 2

2009-09-21T19:07:00.000-04:00

Thanks to everyone who contacted me about my first blog! It’s a wonderful feeling when people believe in you and I hope it is one that you experience on a regular basis.

Last week I focused on the concept that we have to believe. I want to take that further and discuss an incident which prompted those thoughts. I was giving a presentation about a tough topic and fielded a comment from the group that was so negatively focused that it really shocked me. I was illustrating the need for a different approach to an issue and an audience member stated, “I don’t know what is wrong with people. Everything we try doesn’t work. Why should we bother?”

Hmmm…where to begin with this one! The audience member truly believed the organization has done everything they could and the intended targets were to blame for missing the message. Except what has been done was very narrowly focused and without much strategic planning. It was also done without really trying to understand what the people actually wanted. How can you blame someone for missing your message without considering that the message might actually be causing the problems?! In this situation, the negative beliefs had taken hold and the broader picture was completely gone. Clearly the audience member lost faith in the organization and its audience. He refused to believe that any effort was a good effort and instead thought that whatever the organization tried was a waste of time. The room seemed to go quiet for an eternity, though it probably was just a mere moment. The effect of his statement dampened the fire of a great discussion. Openness and progress came to a standstill.

Rather than feed the flames of his negativity, I managed to move on but I couldn’t shake the feeling that I had stumbled on something. He wasn’t being malicious; he was speaking from his own reality. Upon reflection I realized this brief exchange was enough to understand that even if it is not our intent, we can have a very adverse effect on progress when we don’t believe. The weight of one negative comment can crush many positive thoughts into oblivion. Believing creates energy which begets action. Not believing invites apathy and ultimately negativity.

When we don’t believe that a different outcome is possible we lose the roadmap to change. So, the million dollar question becomes, “how to turn it around?” How do I convince that person from my presentation to believe that sometimes even the underdogs win and tough topics might have solutions? Admittedly this was an “underdog” topic and success will be hard to obtain but I don’t believe that we should just give up before we even start. If you do, then why even take to the playing field. You have already admitted defeat. How many of you have had thoughts or ideas completely shattered by those who refuse to believe that there can be a different way?

There are many different leadership theories as well as change management theories that apply, and I will get into some of them as this blog progresses, but for now I want to focus on sharing personal business experiences. Personal experiences build rapport and help set the tone for delving deeper. So, please reply to this post. Share a story of how someone who didn’t believe became swept away negativity. How did you handle it? Do you have a new perspective on the experience?

As always, thank you for believing in me. Let’s find our personal successes together!

Believe - part 1

2009-09-15T07:50:00.000-04:00

Success in business, success in life – our definitions may be different but most of us strive for our personal version of success. It gets us out of bed in the morning and guides us through our days. Day in and day out we follow our routines and strive for our successes but is there something holding us back? Something that is so apparent and, dare I say, basic that we don’t even recognize the hold it has on us? I say there is and that something is the belief we have in ourselves, our abilities and our businesses.

Just like the trinkets in the card stores that show angels with the message of “believe,” in business we need to remind ourselves to believe. Believe in our company. Believe in our products. Believe in our abilities. I’d like you to think of the person you consider to be a success and then imagine how far they would have gotten if they didn’t believe. Think about an underdog sports team. The pundits announce with a sort of glee that they have no chance to win. So why do they even take the field? They believe there is a chance to win. No matter how small, the chance exists and they take it. And, sometimes they actually win.

As an owner, executive, supervisor, or employee can your business really succeed if you don’t believe that it will? Worse yet, what happens if you become the negative force that keeps someone else from believing? If a business owner says “we can’t compete” won’t the employees believe that? How far will that get any of them? This circle of negativity takes root and grows. It inhibits progress, saps our energy and many of us are not even aware it exists!

This is certainly an area that I have a strong personal attachment to because I didn’t believe in myself and it held me back for far too long. For years and years, I always talked about going back to school to get my MBA. My undergraduate work wasn’t in business and I felt it always held me back. I would bemoan that I wouldn’t be accepted into a graduate program or that I certainly wouldn’t be able to handle the math courses. The funny thing is, for most of this time I was working in a direct marketing company managing the marketing communications team. Most of my work was statistical analysis! I was a perfect MBA candidate and yet I refused to believe it.

Over time, I finally came to the conclusion that I really needed and wanted to try for the MBA. The excitement of being accepted into a program quickly turned into fear and dread of the financial and statistical courses. After receiving “A’s” in my first few course, I still refused to believe that I could handle the dreaded classes that I had yet to take. How was I ever going to pass them? The dread overshadowed my successes. The time came for the financial courses and to my surprise I easily kept my 4.0 average! Instead of rejoicing, I continued to focus on the dread. Qualitative Analysis was still lurking out there – how was I ever going to pass it?! I was certain that I was doomed. Gradually, the program progressed and I had three classes to go. It was time to face the music.

I barely slept the night before the class started. The next morning I anxiously logged on to pull the syllabus. Ok. Didn’t seem so bad but I was still sure the other shoe would drop. I refused to believe that I could manage this. Week 1 passed and hey – I aced all the assignments but I wouldn’t allow myself to enjoy the success. The weeks flew by and to my udder dismay – I loved the work! The experiences I had from my direct marketing past provided and excellent foundation for my coursework. I finally could believe that I could and would earn my MBA. And, I did with a perfect score. 100% in Qualitative Analysis! Something which the professor thought had never been accomplished before. I couldn’t believe it!

“I couldn’t believe it.” How many times have we said that to ourselves? I couldn’t believe I made that sale. I couldn’t believe my boss liked my presentation. I couldn’t believe….how many times have we held ourselves back by saying those words? Personally, I am done saying those words. I believe that I can make a difference and this blog is my way to start.

In the coming weeks and months and even years, I want to talk about making businesses better. From change management to customer service to marketing to strategic planning, I believe that I can make a difference in your company. I am asking you to believe in me. Start by posting a response to this entry and share a story about how believing or not believing has affected you. Send me an email with topic ideas you would like me to explore. Let’s break the negative hold and believe that we can help each other find our successes!