Wednesday, July 27, 2011

The Best Small Business Investment You Can Make

By Jeff Haden | July 25, 2011 @BNET.COM


Business owners make investments every day: In advertising, in expanded product lines, in better websites… investments that will hopefully generate positive returns.

One major investment category is missing, though:
Investing in you.

Spending 30 minutes a day investing in yourself will produce better long-term results than any other investment you can make.

Here are five ways to invest a little time each day in your most valuable asset — you:

1. Build strong connections. Forget Facebook and LinkedIn and Twitter for a moment. Social media connections can be useful, but the best connections are personal. For example, every few days I check out readers who comment on or tweet my BNET posts. I look at their websites and profiles and when I find something interesting or helpful, I send a short email. (I also thank them for their comment or for the implied compliment of an article tweet.) I’m not looking for replies but occasionally receive them, and some have led to article ideas and input… or just a nice personal connection.

What to do: Take a couple minutes a day and reach out — by phone or email, not by social media — to customers or colleagues or a person you just want to compliment or thank. Good karma is reason enough, but you’ll be surprised by the real connections you can build.

2. Do something stupid. Okay, not stupid to you, but stupid in the eyes of others. Pick something no one thinks you should or can do and do it. If you want to think outside the box you have to live outside the box at least part of the time. If you want to have a different life than other people you must be willing to do what other people won’t.

What to do: Challenge yourself. Get a part-time job, one that is “beneath” you. Or be the only overweight person you know training for a marathon. Or take a class you’ll struggle to even pass. Whatever you do, make sure it’s well outside your comfort zone. You’ll learn and grow and become better, stronger, and a lot more self assured. Not caring what others think about you — in a healthy way — is incredibly empowering.

3. Build a “side business.” Maintaining a laser-like focus is great but so is broadening your horizons. One of my clients is a financial adviser and wrote a Brazilian Jiu-Jitsu book on the side. Another developed an information-based site that produces nice revenue compared to the time he puts in. A CEO friend occasionally builds decks on the weekends. Each took something he was interested in and made it a “business” of sorts. You don’t need to start a company, but you can leverage your interests to broaden your perspective — and in the process bring some of what you learn “outside” back into your business.

What to do: Pick something you enjoy doing and think of ways to make money from it. The point isn’t to get rich; the point is to open yourself up to new ideas and new challenges. The business aspect helps spark creativity and keep you focused.

4. Follow a morning ritual. Face it: Aside from personal hygiene, a lot of your time before work is wasted. Deciding what to wear, lingering over breakfast, checking TMZ — all wasted. Heck, you just slept for six hours; you’ve had enough slack time. Not only will you arrive at work more energized, you’ll also feel better about yourself.

What to do: Choose things you want to accomplish and create a morning plan that gets you there. Maybe all you want to do is exercise; if so, great. Or choose other productive tasks. Then use your evening to set up the morning: Pick out clothes at night, get your breakfast ready (a protein bar and a glass of milk is a very efficient breakfast)… do whatever you can to make it easy to get up, clean up, tackle your morning ritual, and head to work. Easy. And effective.

5. Take 10 minutes and think. You think all day… but not really. Mostly you react: To problems, issues, concerns, challenges… that’s a very different type of thinking. Thinking when you don’t have to think is completely different and much more productive.

What to do: Force inactivity and quiet. Turn off the radio when you drive to work. Stand in line and just stand there. Or sit outside without a phone or book. Force yourself to be stuck with yourself. It will feel like death for a few minutes, but then out of boredom your thoughts will wander and ideas will flow. (If nothing else you’ll realize you don’t need to be constantly diverted or entertained.) Without time to think you can’t have ideas — and your ideas are the best asset you possess.

And a bonus item:

6. Call your parents. They miss you.

The 11th-Hour Prep Work You Must Do Before Any Big Pitch Meeting

By Tom Searcy | July 26, 2011 @BNET.COM

It has all of the excitement of the big game, the high school play, and your first illicit smoke wrapped up in one. It’s “all-you-can-eat night” at the adrenaline junkie cafĂ©.

I’m talking about the night before the pitch for the big piece of business — it could be the final interview in an RFP process, a proposal meeting with the big prospect, or the next step with your biggest client. Regardless, it is show time and you and your team, (your team could be no bigger team than your pet, yourself, and your coffee pot), are up late getting ready with all of the final details.

I have been through it a ton of times and I have watched dozens of clients go through it. This experience has taught me some key things that you should do to get it right in getting ready.

First, I am not going to tell you that you should have prepared beforehand and that it is about organization, planning, blah, blah, blah — you already know all of that and you are still pressed for time up until the last minute. What I will tell you is that if you focus on the wrong things, you may get through the pitch well, but you may hurt your chances of getting the business.

Here are the right things to prepare:

Who’s the “shoe”? - In Vegas, when you are playing cards, the cards are dealt by the dealer from a box called “the shoe.” In our terms, whomever is playing your master of ceremonies is the shoe. He or she is managing the meeting and the movement through the presentation as well as fielding the questions from the audience and selecting members of the team to answer. There can only be one shoe in a meeting for your team. Pick this person early in the process so that you can always ask, “Do you understand this and can you run this part of the meeting?”

People over slides - A lot of the preparation I usually see is around the presentation slides, as if the slides will tell the story. Slides don’t — you and your team do, so work your people hard. So much so that you can cut slides. Know what they will say, the props they will use, and what questions they will ask the group you are pitching.

The “Murder Board” exercise - Everyone on your team has a secret fear that he or she might be the one to screw up. Ask yourself and your team: What questions could they ask us in this presentation that would absolutely kill us? Then make certain you have the questions answered well and the person responsible for answering the question assigned. A fast, strong answer to a killer question is a great tone setter for the meeting.

Never trust your technology demo - Be prepared to pitch without it — and smoothly transition if it blows up. I have seen tech demos become tech dramas A LOT. The technology may be an important part of your pitch — it might even be the whole reason for the meeting — but if it blows up, you have to be prepared to address it and move on.

Get five hours of sleep - You don’t need a full night’s sleep. But adrenaline and caffeine work better with a foundation to sit on and five hours of sleep will give it to you.

While I’m at it, I’ll also give you some of my worst mistakes:

  • Opening the shrink-wrap on the software package we had decided to use to create some of the elements of the next day’s pitch for the first time at 2 a.m. on the morning of the meeting.
  • Taking the red-eye from one pitch to get to the next pitch. That day I got the names, business issues, and even the terms of the deal mixed up so badly that the prospect asked us to come back in the afternoon when we were a little clearer on the details (this one is so painful, almost 20 years later I can hardly write about it).
  • Taking a team of the CEO, CFO, and COO to a meeting for which they had not adequately been briefed. I also failed to go through the Murder Board exercise and assigned them roles for the presentation. They spent the majority of the meeting arguing with each other on the assumptions in the presentation in front of the client

If you are a part of big pitches, you may have some of your own war stories to share. I would love to hear them.

5 Things You Should Say at Work Today

By Tom Searcy | July 26, 2011 @BNET.COM

 You worked there a long time… is there anything you regretted after you were gone?”

I left the company for another job ten years ago, but I still run into ex-coworkers. Usually those conversations follow the, “Hey, have you heard about the (latest stupid management decision) at the plant?”

This question was different.

I didn’t answer, but I did think about it later. I don’t really regret strategic errors or poor tactical decisions or career missteps (and I sure made a bunch of those.) Certainly did then, not so much now.

Instead I most regret things I didn’t say: To employees who reported to me, to peers, and to a person I worked for. Those are moments I’d like to have back.

It’s too late for me, but not for you. Here are five things you should say, today, to people you work with:

  1. “I’m sorry I didn’t…” Admit it. There are things you need to apologize for: Words, actions, omissions, failing to step up or step in or be supportive… Bite the bullet and say you’re sorry. And don’t follow up your apology with a disclaimer like, “But you upset me…” or “I thought you were…” or any statement that somehow places a little of the blame back on the other person. Say you’re sorry, say why you’re sorry, and take all the blame. No less, no more.
  2. “That was awesome how you…” No one receives enough praise. No one. Pick someone who did something well and tell them. And feel free to go back in time. Saying, “I was just thinking about how you took care of that problem last year…” can make just as positive an impact today as it would have then. (Maybe a little more — because you still remember what happened a year later.) Surprise praise is a gift that costs the giver nothing but is priceless to the recipient.
  3. “Can you help me…?” One of my biggest regrets is not asking a fellow supervisor for help. I was given the lead on a project he really wanted, yet he swallowed his pride and told me he would be happy to help in any way he could. Even though I could tell he really wanted to participate, I never let him. I wanted to show I could handle the project alone and let my ego be more important than his feelings. Asking someone for help implicitly recognizes their skills and value. Saying, “Can you help me?” is the same as saying, “You’re awesome at that,” with a bonus: You get help.
  4. “Can I help you…?” Then flip it around. Asking for help is perceived as a sign of weakness in many organizations, so many people naturally hesitate. But everyone needs help. Don’t just say, “Do you need any help?” Most people will reflexively say, “No, I’m all right.” Be specific. Look around — somewhere, someone needs a little assistance. Say, “I’ve got a few minutes… can I help you finish that?” Just be sure to offer in a way that feels collaborative, not patronizing or gratuitous.
  5. “I’m sorry I let you down.” I was assigned a project in a different department, a project I didn’t want. I let it slide, let other people take up my slack, and focused on projects I was more interested in. My manager was trying to get me broader exposure and had stuck his neck out to get me the project but I, well, didn’t care. Eventually he said, “They know you’re really busy and they’ve decided to handle it themselves.” I felt bad but I never said, “Dennis, I know you were trying to help me. I’m sorry I let you down. I promise it will never happen again.” That one statement would have chased a very large elephant from the room. The biggest elephants are emotional elephants. It’s up to you to chase yours away.
What will happen when you say these five things? You’ll make a huge impact on your coworkers’ professional lives and personal lives.

And maybe an even bigger impact on your own.

The Real Sleeping Giant

China The Rising Power Have You Noticed?
The United States has nine cities with a population of over one million people. Europe has thirty seven. China has 120 to 150. It is forecast that in the next five years the Chinese government will spend five trillion dollars on infrastructure.

By the end of last year, China open 40 new airports, up from 147, and by 2020 will add another 55. Does that hint of an emerging voracious appetite?

And Chinese companies have been on a spending spree the last couple of years, locking up key assets and supplies of raw materials in third world countries, billions of dollars at a time.

China's state-owned metals giant Chinalco signed a $19.5 billion deal with Australia's Rio Tinto that will eventually double its stake in the world's second-largest mining company.

China National Petroleum signed separate agreements with Russia and Venezuela under which China would provide $25 billion and $4 billion in loans, respectively, in exchange for long-term commitments to supply oil.

The China Development Bank struck a similar deal with Petrobras, the Brazilian oil company, agreeing to a loan of $10 billion in exchange for oil.

And they now have their eye on Canada, which by the way, supplies roughly 70% of oil to the U.S.

Reportedly, they are gobbling up copper, other metal and mineral mines, valuable wood forest products, and vast agricultural resources in Africa and South America.

Not to mention food, building materials, and other raw materials right here in this country.  Recently, in an interview with China Investment Corp. vice president Gao Xiqing on "60 Minutes" Leslie Stahl reported he had decided to pour 200 billion dollars into the U.S. economy.

So what does this all mean? We first and foremost, things in the U.S. will get more expensive. Secondly, and more importantly, buying an automobile that gets a few extra miles to the gallon will not keep our transportation costs down. Demand for oil alone from China's emerging middle class will far and away nullify any hope we have of fuel efficient autos reducing worldwide demand.

Let's just hope electric, solar, hydrogen and other forms of sustainable energy happens first.

Wednesday, July 20, 2011

Convince Employees to Work Hard

How can you motivate employees when you don’t have financial resources to inspire them, beyond basic salaries?

There are several ways to foster teamwork and innovation—keeping staff enthused to not only continue working hard for your company, but to turn out innovative results and stay with you for years to come.

1. Shove them out the door. It’s a well-known fact that when employees have a happy work/life balance, they are better at both. As a leader, you need to not only say (through a policy or verbally) that you encourage people to keep sensible work hours, but you also need to show them that you mean it. Call "quitting time" with a surprise happy hour in the kitchen, or have a planned event every Friday afternoon to signify the end of the week for employees. Let them know it’s O.K. to leave afterward.


2. Encourage employees to pursue hobbies outside of work and to share their adventures and accomplishments on a blog, internal newsletter, or during a staff meeting. Inspire them by offering a monthly list of things to do around town or by having employees contribute their own ideas. The pursuit of other interests can lead to new ideas for work.


3. Foster competition outside the office. Inspire healthy habits and bonding by starting a competition among staff that has nothing to do with work. It could concern a monthly photo competition or who runs the most races during the year. Maybe it’s a weight-loss challenge or a cooking challenge. Less competitive options such as a book club or employee-contributed cookbook can also work. This can help staff get to know one another better as individuals outside of work, as well as bond over shared interests. And that can lead to camaraderie and improved communication at work.


Posted by: Today's Tip Contributor on June 20, 2011
Christine Perkett
Founder and Chief Executive Officer
PerkettPR
Boston

"Keeping the Millennials"

How to Lead, Motivate, and Retain Key Talent During Uncertain Timesby Dr. Joanne G. Sujansky, CSP


With more and more organizations laying off staff, slashing budgets, and reorganizing departments in an attempt to cut costs and increase cash flow, many company leaders struggle as they attempt to do more with less. But in their quest for increasing productivity and maximizing talent, organizations can end up losing key employees. So rather than do more with less, leaders today need to do more with more – more interaction with employees, more communication, more partnering, and more coaching. Only then can they create the work environment necessary for increased productivity and employee loyalty.
Effective leadership is always the key element to motivating and retaining staff. The studies prove it. Whenever employees are asked to identify why they left a company, "lack of leadership" is often cited as one of the top five reasons. In order for employees to want to contribute, they must feel that they know where the company is going and that it’s strategically strong. Strong leaders instill these beliefs.
In order to help your managers and executive level employees lead effectively so they can motivate and retain key talent, coach them to employ the practices listed below. Doing so will enable you to create a work environment that gets employees excited about the company and eager to produce results.
1. Set clear expectations
Just like the company, each employee needs a clear focus, especially during uncertain times. When employees see the economy turn sour or cutbacks occur, they naturally fear any change that could impact their own future. To keep those fears from surfacing, continually communicate with your employees and state your expectations of them. Tell them what you want, what they did right, what you expect of them, and how you will measure their progress.
Share the organizational vision and goals so employees understand the big picture. Realize that your team members want to know where the organization is going and how that direction impacts their personal objectives. As events and circumstances change, communicate that to them as well. The more you reveal to your employees, the more leadership they’ll feel that they have.
2. Show respect
When resources get tight, respect within an organization can decline, causing some leaders to show a lack of concern for the time and needs of their employees. As you ask employees to produce more, stay attuned to their need for life balance, as many people are sensitive to keeping work life, home life, and community life in balance. They may stay up all night to finish a project, but over the long term they won’t sacrifice family and friends for the sake of their jobs. To respect employees’ time, consider flexible work schedules. This could include longer workdays and shorter workweeks. Be creative about building in the flexibility.
Another great way to show respect is to get creative with your benefit plan. Employees may have more sophisticated needs in this area than you thought possible. For example, some companies now offer shopping services, adoption reimbursement, and even pet care and pet insurance for employees. When people feel respected, they’ll be more loyal over the long term.
3. Make the workday meaningful
Employees today want more than just a job. They want to contribute to the big picture and help the company sustain through the tough times. Therefore, leaders need to provide challenging and meaningful work assignments that stimulate their employees. When employees feel bored, their motivation declines and they lose focus of how their work fits into the big picture. Delegate meaningful work whenever possible so employees can learn something new and feel challenged.
Additionally, provide regular development and learning opportunities. These could include formal training (when money permits) and mentoring opportunities from within the organization. Employees want to be marketable, so when you give them opportunities to increase their skills and showcase their talents, they’ll have a strong desire to stay with the company.
4. Give appropriate praise and recognition
Recognize and celebrate even the small accomplishments, as praise and recognition inspire people to increase productivity. Employees appreciate spontaneous and positive recognition along the way instead of delayed recognition during a performance review. However, as you give praise and recognition, consider the receiver. Although praise is a great motivator, some people prefer to receive praise privately, while others like it publicly. Also, give varied and frequent rewards employees can enjoy. Again, consider the receiver; some may appreciate theatre or sporting event tickets, while others may like an afternoon off from work.
One simple way to give praise and recognition is with a simple “thank you.” It can be done in a moment in the hallway, by phone, or during a drop-in visit. “Thank you” is a powerful phrase that can make a person feel appreciated and valued. Whatever you choose to do, remember that rewards and recognition are great motivators, so use them freely.
5. Continually coach
To keep morale high, coach and facilitate every day. The “I tell/you do” method of management simply does not work for motivating and retaining people. Instead, become a coach to your people and encourage them to try things their own way. Allow for mistakes to happen, as mistakes are often our greatest learning opportunities. When people know that mistakes are understood as a part of the experience, they’ll be more creative and take more risks. When you need to correct employees, do so constructively by offering information on ways they can improve, attain, and surpass desired results. Most people are grateful for constructive feedback. It shows that you’re paying attention to their progress.
In addition to coaching from management, suggest that team members coach each other. The encouragement, teaching, and support increase dramatically when all team members provide it. As a side benefit, internal coaching costs the company very little, yet it produces significant results.
Keep What You’ve Got
While the above guidelines won’t guarantee that valuable employees will stay with you through good times and bad, they do increase your chances for leading, motivating, and retaining key people when your company needs them the most. By partnering with your employees and creating a work environment that’s enjoyable, meaningful, and focused, your company can accomplish great results, even during uncertain times.
About the Author:
Dr. Joanne Sujansky, CSP, has over 25 years of experience helping leaders increase organizational growth and profitability by creating and sustaining what she calls a “vibrant entrepreneurial organization.” She is an international keynote speaker, founder of KEYGroup® and the author of numerous books on leadership, change and retention. A member of the National Speakers Association, she holds their highest earned designation, Certified Speaking Professional. Reach her at 724-942-7900 or at www.joannesujansky.com. 

Thursday, July 7, 2011

7 Simple Steps to Extreme Personal Productivity

By | June 28, 2011      in BNET.com 

Increasing personal productivity is big business: Stephen Covey, David Allen, Tony Robbins, 43folders… those and countless others have combined to turn improving individual productivity into a massive industry.
Forget them.
If you want to complete a major project, tackle a task you’ve been putting off, or just knock out a lot of work in a relatively short period of time, there’s an easier way.
And it’s free.
Say you need to complete a task you estimate will take, oh, 10 to 12 hours. Here’s how to pull it off in one day:
  1. Tell everyone your plan. This step is an absolute must since interruptions are productivity killers. So is the, “How much longer do you have to work?” guilt trip family members sometimes can’t help but lay on you. At a minimum tell coworkers and family, but consider letting important clients know as well. Send a quick email a day or two before explaining you will be tied up on Thursday and will respond to calls, emails, etc. first thing Friday morning. Some customers will contact you before Thursday; others will mentally note you can’t be reached. Either way it’s all good. And you get an additional benefit from telling others your plan: People important to you know what you intend to accomplish — and will know if you don’t succeed. Peer pressure can be a great motivator. Use it.
  2. Decide how long you will work. Don’t plan based on, “I’ll work as long as I can,” or “I’ll work as long as I feel productive.” Set a concrete target. Commit to working 12 hours or whatever period of time you choose. Then the longer the time frame, the quicker the early hours seem to go by. When I worked in a factory we typically worked 8-hour shifts; time before lunch dragged and the last couple hours always seemed like death. During busy periods when we worked 12-hour shifts the mornings seemed to fly by. Something about knowing you’ll be working for a long time allows you to stop checking the clock; it’s like you naturally find your Zen (work)place. When you know you’re in for a long haul your mind automatically adapts. Trust me — it works.
  3. Start really early — or extremely late. Have you ever taken a long car trip and left really early in the morning? Like at 3 or 4 a.m.? Those first few hours on the road fly by because you’ve stepped outside your norm. The same trick works with accomplishing a major goal. Start at 4 a.m. or indulge your inner night owl and start at 6 p.m. to work through the night. An extreme productivity day is not a normal day; set the stage by breaking free of your normal routine.
  4. Withhold the fun, at least for a while. Some people like to listen to music while they work, others keep an eye on news. If you like to “treat” yourself when you’re working, don’t, at least in the early hours. When your motivation starts to flag that’s when a little music can provide a needed boost. Each treat is like a personal productivity bullet; shoot too early and nothing is left when you really need ammunition. Whatever typically carries you through your workday, hold off on it for awhile. Delayed gratification is always better gratification.
  5. Recharge early. When you exercise, If you wait until you’re thirsty to drink it’s too late. The same is true when you work. Plan to eat or snack a little earlier than normal. If you sit while you work, stand before your butt gets numb. If you stand, sit before your legs start to ache. Any time you allow yourself to feel discomfort your motivation and resolve weakens. And speaking of food, plan meals wisely. Don’t take an hour lunch break: Prepare food you can eat quickly without lots of preparation or mess. The key is to refuel and keep rolling.
  6. Take productive breaks, not rest breaks. Momentum is everything. Don’t take a walk, or watch a little TV, or goof around on the Internet. You will need breaks, but breaks should reinforce your sense of activity and accomplishment. Pick a few productive tasks you like to perform — and gain a sense of accomplishment when you complete — and use those for your breaks. Spending even a few minutes in the land of inactivity weakens your resolve.
  7. Don’t quit until you’re done — even if finishing takes longer than expected. Stopping short is habit-forming. If you stop this time what will keep you from stopping next time? Success can be a habit, so make sure your first extreme personal productivity day is the start of a great new habit.
A great side benefit of an extreme personal productivity day: We unconsciously set internal limits on our output. A voice inside says, “I’ve done enough,” or, “That’s all I can do today,” or, I’m whipped — no way I can do more,” and we stop. But our internal limiters lie to us: With the right motivation, under the right circumstances, we can do more.
An extreme personal productivity day automatically ratchets your limits higher. After a few extreme productivity days you’ll perform better every “normal” day too — because you will have unconsciously raised your own bar.