Archive for the ‘best practices’ Category
Wednesday, February 22nd, 2012
By Joe Procopio
 Joe Procopio
A week from today, I’ll be waking up with a hangover in a fabulously appointed room at the Ritz Carlton in Tyson’s Corner, wondering if I have enough time for a shower before the pre-networking-breakfast networking.
And I’ll view that as a success.
There are conferences and there are conferences. As someone who invented a social event based upon removing everything from a conference except the reception at the end (and lay off, I’ve got the patent), I can tell you that every conference has its place and time, but it’s usually what happens around the conference that’s worth the price of admission.
If you’re an entrepreneur or want to invest in, support, or provide services for entrepreneurs, next week’s Southeast Venture Conference is the one you’ll want to be around.
This year’s installment will be my fifth. Each time I’ve gone for a different reason, and usually, it winds up being a combination of the following:
Reason #1: Networking
 People network in groups large and small at SEVC.
There are hundreds of ways to land investment in your startup but they all really come down to this: Find someone with a lot of money who believes in your idea and your team. This doesn’t come overnight. There isn’t a single introductory letter, business plan summary, elevator pitch, or quirky attached trinket that is going to produce a term sheet.
Although, while judging a startup competition last week, I was handed beef jerky, and let me tell you, that’s as close to a guaranteed vote as you’re going to get. Still, unless you’re starting a beef jerky company, that won’t get you seed money.
Relationships, or rather, previously cultivated relationships garnered through hustling, hard work, and a boatload of rejection, are the stepping-stones to getting funded. SEVC is one opportunity to create new relationships, nurture existing relationships, or evolve relationships into interest and eventual investment.
And yeah, there’s something to be said for being in the right place at the right time. But without the proper context, how the hell are you supposed to figure out where and when that is?
Reason #2: Networking
The phenomenon of startups helping startups in mutual partnership, or even as paying customers, is just starting to take hold as common practice. In other words, Startup A uses the eCommerce platform from Startup B, who uses the ad engine of Startup C, who uses the marketing services of Startup A. The symbiotic inclusion of other startups into a beta adds to the robustness of said beta, and usually the pricing is beneficial to both sides.
For every investor at SEVC there are probably three people who can also help you in other ways. And it’s not just the entrepreneurs that are good to know. I’ve made a hosting deal at a venture conference, a funding deal at a gaming conference, and hired a guy at a technology conference.
Wait, that last one totally made sense. My bad.
Reason #3: Networking
 SEVC draws a sellout crowd every year.
Yeah, you’ve been to pitch parties and pitch contests and hopefully not pitch seminars, but maybe you’ve even pitched one or a hundred times privately.
This is the major leagues of pitching. And what I mean is it’s rampant with steroid use.
Of the 60 startups that will be publicly pitching at SEVC, all of them are asking for big time money and all of them are deserving of big time money (sure, at various levels of deserving, but you get the idea). Your time will not be wasted taking in as many of these pitches as possible and learning from them.
Even the bad ones.
Especially the bad ones.
But entrepreneurs are also usually very open to answering questions from other entrepreneurs. It’s one thing to watch a pitch, it’s another to have a conversation based around where that pitch came from, especially if you get them to remove the elevator-speak.
“Hockey-stick.”
Reason #4: Networking
Startups remain on the cutting edge of technology, not just in terms of which technologies are in vogue, but also where the business of technology is heading. A lot of last year’s presentations and panels focused on discussing these possibilities, but it’s in the trenches, so to speak, where you’ll find the real conversations about adoption.
Example: No one had a Pinterest strategy last year, but everyone knew about them, and more than a few were talking about them. Now, under a year later, they’re old like Microsoft.
Just kidding.
Maybe.
Reason#5: Networking
Yeah, the running Networking gag probably wasn’t an awesome joke.
But at the end of the day, literally, there’s a lot to be said for just meeting new people who share the same vision and passion as you. It may seem like these opportunities are out there all the time, but let’s face it, this is the Lollapalooza of startups. There’s an energy around the open bar that you’re not going to find at a meetup.
So on Thursday morning when I wake up in my suit on top of the blankets, I’ll know I got a lot done. And I’ll have a pocket full of business cards and a handful of new friends to prove it.
Tags: Joe Procopio, networking, reasons to attend SEVC, SEVC, Southeast Venture Conference Posted in best practices, Business advice, Events, Viewpoint | No Comments »
Tuesday, February 21st, 2012
 Apple and other high growth companies share five key behaviors.
Every day millions of Americans arrive at work filled with low-level dread and resignation. Since the recession hit (or perhaps before), they’ve been overloaded, overstressed, and overwhelmed.
The typical workday is a marathon of rushing from one task after another, with few breaks between these bursts of effort, and even fewer words of thanks from equally frantic managers and coworkers.
By the time they drag themselves to the finish line at 5:00 (or 6 or 7 or even later), they’re completely drained and wondering how they’ll ever do it all again tomorrow.
Yes, says Mohan Nair, too many employees these days are running on empty—and no matter how great their work ethic or their fear of unemployment, at some point the pace becomes unsustainable.
The problem is not that employees don’t want to work hard,” says Nair, author ofStrategic Business Transformation: The 7 Deadly Sins to Overcome (Wiley, 2011, ISBN: 978-0-470-63222-2, $49.95).
“It’s that they have nothing to believe in. When people are motivated by a cause, they’ll work without stopping and without loss of energy. Their dedication to the cause will fuel them. The problem is too many companies aren’t animated by a cause at all—and their employees just live for the end of the day and for Friday.”
You might call Nair a “cause evangelist.” He is a fervent believer in the power of, well, believing in something. He insists that if your company isn’t giving employees a cause—if the organization exists solely to create revenue, in other words—they won’t be partners. They’ll be foot soldiers. And when you fail to meet your employees’ needs, they’ll fail to meet you.
Giving employees a “power source”—which Nair defines as servant leadership, cause-focused strategies, and authenticity—is a crucial part of the message laid out inStrategic Business Transformation.
That cause, which bears little resemblance to the corporate-speak mumbo-jumbo in the typical mission statement, should spark enthusiasm in consumers and dedication in employees. It should be an inspiring ideology that is intrinsically linked to the company’s value proposition and competency.
Think Apple. Think Disney. Think Google.
It’s this cause—this ideology—that powers strategic business transformation. And because our world is changing so rapidly, businesses have to transform themselves over and over again in order to keep up or lead markets.
“It used to be that markets reformed every several years with new ideas on what customers are interested in,” notes Nair.
“But now markets and customers are transforming because they encounter more unknown unknowns, those changes that they never anticipated and started to notice only after they happened. Companies that want to survive and grow must find the insight to know what their customers value and are willing to pay for continuously.
“Winning companies transform themselves in order to transform the customers they serve,” he adds. “They don’t manipulate markets nor do they just add another feature or capability to their arsenal. In fact, they don’t think of their capabilities as arsenals because they don’t see battles; they see opportunities to transform, not destroy.”
If you’re ready to transform into an innovative, cause-driven, employee-and-customer-inspiring organization, Nair says there are seven sins waiting to trip you up.
See: The Seven sins of business transformation.
Tags: best practices, Mohan Nair, Stategic Business Transformation Posted in Apple, best practices, Business advice, Google, Viewpoint | No Comments »
Tuesday, February 21st, 2012
Mohan Nair, too many employees these days are running on empty—and no matter how great their work ethic or their fear of unemployment, at some point the pace becomes unsustainable.
Nair, author of Strategic Business Transformation: The 7 Deadly Sins to Overcome (Wiley, 2011, ISBN: 978-0-470-63222-2, $49.95). “It’s that they have nothing to believe in. When people are motivated by a cause, they’ll work without stopping and without loss of energy.
Their dedication to the cause will fuel them. The problem is too many companies aren’t animated by a cause at all—and their employees just live for the end of the day and for Friday.”
If you’re ready to transform into an innovative, cause-driven, employee-and-customer-inspiring organization, Nair says there are seven sins waiting to trip you up:
Sin #1: Ignoring the new principles of business transformation. Many companies that fail focus on the outward manipulation of markets and customers driven from the “ego” of the organization. Unfortunately for them, today’s markets are sensitive to purposeless wealth creation. No amount of end-of-the-year donations to needy organizations can make up for a lack of purpose and value. Mission and money must go hand in hand.
“If you think of making money without thinking of the greater contributions to society, you will neither attract the right people nor make money in the long run,” says Nair. “This is because people themselves are changing.
Finding meaning at work powers the twenty-first century employee population. This population knows insincerity from truth, so leaders cannot ‘fake it.’ They have to be able to feel the plights of customers and people in our society. The fuel that drives our new economy fills the containers that bring purpose to profits.”
Sin #2: Driving without a cause. Most companies have mission statements—as well as vision statements, value statements, and other official website/employee handbook fodder. Yet many employees don’t believe in them and never use them. What they need is a cause, and that’s altogether different. Once organizations know why they exist, to whom they want transformation to happen and why, they gain the audacity and authenticity to drive strategic business transformation.
“Don’t confuse ‘cause’ with ‘mission,’” says Nair. “A cause is a lasting theme, an architecture that supports the transformation of the greater environment. It has personal, rather than organizational, implications.
Missions are given to groups marching in lockstep; causes are taken up by creative individuals. A mission is a bounded, purposeful action. Missions impose the will of managers on employees, whereas causes are grounded in the latent, unexpressed will of the overall organization.”
Discovering a cause greater than any one employee and greater than the whole propels organizations beyond the speed of lofty, purposeless, or narcissistic goals, adds Nair. In his book he cites Whole Foods as an example of a cause-driven company. He refers to a quote by Cofounder and Co-CEO John Mackey in Harvard Business Review: “I think Whole Foods’ highest purpose is a heroic one: to try to change and improve our world. That is what animates me personally. That is what animates the company.”
Sin #3: Missing market momentum. Traditionally, products seek customers, customers form markets, and markets move with momentum. In transformation principle, momentum is identified before anything else, customers and prospects respond to momentum, then products respond to serve these prospects to move with purposeful intent. Momentum is a unique way to view the market. Companies that don’t understand it will miss the drivers that indicate where momentum is going.
Momentum drivers often lead “old” customers to consider their options in a whole new way. Being able to predict these changes of mind and heart, even before the customers themselves do, allows companies to get in first with products destined to be hot sellers.
Nair writes: “The most telling experience occurred recently when I was watching a sunset. A person nearby stated, “I wish I had my phone” when he was thinking of taking a photograph of the sunset. These customers would have rejected the idea of a phone and camera combined in the past. This is transformation at its best.”
Sin #4: Ignoring the two orders of value. If you assume that rational and emotional value propositions are all you need to consider, think again. There’s also a “higher order” value proposition: the symbolic. Customers symbolically attach to the product or the company that sells the product. They come to identify with the purpose of the product and what it stands for. Organizations that are able to transfer and connect market momentum into value to the customers that emerge from a transformation will gain market share and be very successful.
Take Trader Joe’s, for instance. The company has convinced its customers to bring bags that they bought from Trader Joe’s to collect their own groceries. It has successfully tapped into “green” market momentum.
“The customers of Trader Joe’s are participating at both levels in acting to save paper or plastic and to recycle bags every time they visit,” writes Nair. “This has huge economic value because the company saves on the cost of bags, but the consumers do not see it that way. Consumers see themselves aligning with the grand vision of a better world without excess, and they believe that Trader Joe’s is conforming to their world view authentically.”
Sin #5: Overlooking transformational servant leadership. The new organization is a workspace with no walls. Leadership styles of the past cannot conform to the unbounded workspace commanded by remote employees, portable tablets, portable computers, and worldwide internetworks.
Hierarchical management techniques and paradigms are breaking down. You may try to bend the iron bars of the hierarchical organization to make it “look” better—but if you aren’t practicing true servant leadership, you won’t be able to attract the talent it takes to compete in the transforming marketplace.
What is transformational servant leadership? While the concept is maddeningly difficult to pin down, it contains several basic truths:
- - It’s based on service rather than hierarchical controls. Leaders believe in something greater than themselves.
- - There are no sharply defined leaders and followers. Leaders lead when it’s appropriate and follow when it’s appropriate.
- - Organizations are populated by project-centered self-leaders who partner with one another when needed.
- - Leaders strive for dramatic inner change, re-engineering, and self-identification with corporate goals. In other words, it is about personal change creating group change that triggers corporate change—and not the other way around.
“They are powered by a desire to serve others, and they forget themselves, and this is the source of their undying energy and success,” writes Nair. “They do not come to this easily but through self-doubt, suffering, ridicule, and even pain. Yet they are among us, and we should realize that we cannot judge anyone in our organization to be inadequate, of not having ideas to transform the world around them. Our purpose is to nurture and to find the goose that lays the golden eggs rather than be in the business of ideas. Be in the business of nurturing people with ideas, and the ideas will flow.”
Sin #6: Mistaking capability for strategic competency. Capabilities are what you can do for customers. Competence is the unique recipe of your capabilities and what you can do better than others consistently as far as your customers perceive.
You can always gain a new capability: just learn how to do it yourself, hire someone who knows how to do it, or partner with another organization to fill that void. Stopping there, instead of understanding your competencies and using them to formulate your strategy, is the sin. It keeps you from being able to create value that people want and are willing to pay for.
Being good at one key capability is not sufficient—unless, that is, it is nonreplicable. Winning, using competencies, involves:
- Creating brand awareness among your customers and prospects who feel an alignment between the organization and their values.
- Defining communicable cause/purpose that is about a transformed customer and experience with that customer.
- Combining key ingredients that reflect a valued recipe that creates a strong, enduring, and authentic “aftertaste” to the customer who keeps returning because of it.
- Creating a structure that drives social networked feedback interactively with an approachable organizational structure.
“Trader Joe’s has gained loyal customers because they are capable in selling you good produce and groceries,” says Nair. “But they are competent in driving their belief systems about conservation, their shopping experience, and their community spirit. Many other stores have the same ingredients (capabilities) as Trader Joe’s. What they don’t have is the recipe (competency).”
Sin #7: Expecting flawless execution without a performance platform. It is critical to find the talent ahead of time, find the capabilities of the future ahead of time, and to ensure that your operating capability anticipates rather than responds to a transformed market. What if Amazon couldn’t ship its products on time and accurately? Customers would go to the competition, of course. And yet, it’s common for companies to do more and more—to implement greater and greater change—without a context for employees and customers to frame improvement initiatives.
Nair says there are two categories of performance management corporations must master:human (inspiring, organizing work, people performance and incentives) and corporate(analytics, systems and methods around the financial, operational, customer and strategic outcomes and outputs). To execute well in the second category a company must have capabilities in four areas: monitoring, measurement, management, and direction setting. As if that weren’t complicated enough, companies must be able to strike a careful balance between surviving today and investing in tomorrow.
“I call this balancing act ‘building the plane while flying the plane,’” says Nair. “You have only one plane, but if you just kept flying it you would eventually encounter a storm that you would not survive. If you stopped and built the plane of the future, you would lose the battles you currently face. So you must build a new plane while flying the plane into battle.
“It’s tough to determine how much to invest in the now and how much to invest in the future—especially since the future is a transformed environment,” he adds. “Prioritizing is part science and part art. The ability to make these decisions is where leaders truly earn their keep.”
This is all deeply complicated stuff, to be sure. But Mohan insists it is possible for corporate leaders to transform (themselves, their organizations, and their customers), to make money, to keep their collective soul, and to give the people who do the work a real reason to come to work.
“I challenge today’s businesses to choose to transform,” he says. “Develop a strategy that reflects your beliefs and let others, both employees and customers, choose to take up your cause. Transformation is never easy, but it is almost always worth the blood, sweat, and tears that come with it.”
Tags: best practices, Strategic business transformation Posted in best practices, Business advice, Viewpoint | No Comments »
Friday, February 17th, 2012
Virtualization as the technology foundation of cloud computing has ushered in new challenges, new day-to-day responsibilities and, now, new roles for IT professionals as business leaders within their organizations.
A recent survey by SolarWinds Inc. (NYSE: SWI), a leading provider of powerful and affordable IT management software, indicates that IT departments plan to invest in key areas of business in order to play a more competitive role.
“IT’s role of creating and maintaining infrastructure is transforming to act as more of an intermediary or broker in addition to those traditional roles,” said Jonathan Reeve, SolarWinds’ senior director of product management. “IT professionals will need to demonstrate their expertise by identifying and implementing the most appropriate virtualization and cloud tools that fit their company’s needs. Investing in areas such as competitive analysis, marketing and product management will help them on their way to becoming successful business leaders.”
Survey Findings:
SolarWinds recently conducted a survey in December 2011 and received responses from nearly 65 IT professionals. As part of the survey, SolarWinds asked each IT professional a series of questions related to their predictions and organizations’ plans regarding cloud andvirtualization. Survey findings include:
- Nearly 65 percent of respondents plan to invest in competitive analysis vs. external services.
- More than 60 percent plan to invest in marketing IT services back to the business.
- Nearly 60 percent plan to invest in product management for those IT services.
“IT departments looking to stay competitive should ask themselves what direction their company is heading, identify the goals and determine IT’s strategic role,” continued Reeve. “The good news is that IT departments already have the upper-hand in understanding the unique requirements of the businesses they support.”
Three Tips for IT Pros Developing a Competitive, Business Skill Set:
1. Embrace the evolution of virtualization. First and foremost, IT professionals need to be up-to-speed on the evolution of technology and know how to manage a virtual infrastructure, including its performance, availability, capacity and applications. A core understanding of virtualization and cloud technologies has become table stakes for IT leaders.
2. Develop partnerships. IT professionals will need to identify and collaborate with vendors that are making it easier to adopt features that enhance virtualization and facilitate the transition to cloud computing. Start experimenting early and often. This will simplify the process for IT professionals whose companies are looking to move into a cloud infrastructure. Another advantage is that this will demonstrate their ability to develop and manage vital partnerships that provide the right enhancement features for their companies’ needs.
3. Become a successful business leader. This is the defining piece. IT professionals need to become prominent leaders and advise their companies on the right infrastructure needs to drive the business forward. Skills such as marketing and product management are not only for vendors, they are becoming increasingly important for IT departments whose delivery of IT services is inevitably going to be compared to outside service providers.
For the complete survey results and explanation, please read 2012 Cloud and Virtualization Predictions: The Emergence of the Competitive IT Department.
Tags: IT business skill set, IT skill sets, Solarwinds, tips for IT pros Posted in best practices, Business advice, Cloud, IT, TechJobs | No Comments »
Thursday, February 16th, 2012
Business bloggers would like CEOs to acknowledge the mistakes and excesses of corporate America to show that they are in-touch with reality, even if the CEO’s company has shown no bad behavior, according to a survey by the 10 company and Gotham Research Group, of prominent bloggers who cover corporate and business news.
“The bloggers we surveyed expressed a desire for CEOs—particularly those in the financial sector—to explicitly acknowledge the corporate excesses of the last several years, even if their companies were blameless,” says Dr. Jeff Levine, founder of Gotham Research Group.
“There’s something more authentic and relatable about a leader who can admit that mistakes were made.”
This recognition shows CEOs are more aware of what average employees and consumers are thinking, according to the bloggers interviewed. Emotional intelligence is now seen as a crucial job requirement for any executive.
Almost any CEO statement regarding a shortage of financial resources for their company initiatives or lack of raises and better benefits for their employees is viewed with skepticism, especially if there is a perception that CEOs are inordinately well-compensated or receive large bonuses. One blogger commented, “I hate it when they cry poor, and I know they just got a big bonus.”
Authenticity is a critical factor in CEO assessment
Perceptions of a leader’s authenticity play a critical role in the overall assessment of a CEO’s ability and performance, according to the bloggers surveyed. CEOs perceived as “inauthentic” by bloggers were not only considered to be less likeable than authentic CEOs, but also thought to be less capable and less effective leaders.
Bloggers expressed a universal sentiment that CEOs who display any of the following traits are inauthentic by definition:
- Lack of courage. Bloggers believe that CEOs are too tightly handled and scripted – and, as a result, too tentative not only in their public statements, but in their actions.
- Failure to engage in unscripted “give and take.” Bloggers believe they should have an opportunity – even if only once a year – to ask questions, preferably in-person, and get a glimpse of the real person inside the CEO.
- Failure to acknowledge and discuss their company’s challenges. Bloggers are always on the lookout for potential problems that can undermine the companies they cover. A CEO who is not similarly vigilant is viewed with suspicion.
“Authentic CEOs are real. They avoid corporate-speak and engage in a dialogue that is specific and honest,” says Clare DeNicola, principal and co-founder of the 10 company. “When a blogger is looking to speak with the person in charge, he’s looking to speak to the ‘person,’ not the ‘in charge.’ It can’t always be corporate jargon and unfettered optimism.”
While bloggers surveyed said that no CEOs are getting blogger relationships right today, the CEOs who were most often named as being authentic were Warren Buffet, Herb Kelleher and the late Steve Jobs.
Top five phrases that signal inauthenticity
Survey respondents identified the following phrases as red flags:
- This deal is a win-win. Bloggers say that few business deals, if any, are really win-win – particularly in the current economic climate.
- Thinking/working/planning outside the box. The phrase is viewed as classic corporate-speak.
- We’re not here to talk about the past. This is seen as a cliched, not-so-clever diversionary tactic designed to avoid an unpleasant topic.
- We are an innovative company. Innovation has become an empty promise – something that many companies say they stand for, but few, if any, can actually deliver.
- Executive X is stepping down to spend more time with his family. This phrase is code for an executive who is being forced out of a job.
The report is based on findings from 10 one-on-one in-depth interviews with prominent institutional bloggers who cover corporate and business news for top-tier national, regional, and trade news outlets, conducted in December 2011.
Tags: authentic leaders, best practices, business bloggers Posted in best practices, Blogging, Business advice, Studies, surveys, reports | No Comments »
Thursday, February 16th, 2012
 Apple and other high growth companies share five key behaviors.
A survey of 500 C-suite executives worldwide conducted by global brand consultancy Wolff Olins has revealed that, although companies recognize the important factors required to generate long-term growth, many are not investing resources and energy into them.
“Traditional ways of doing business are not generating growth and global economies are suffering without it,” said Karl Heiselman, CEO of Wolff Olins.
“We believe there are very clearly identifiable actions or behaviors associated with high-growth companies such as Amazon, Google, Nike and PayPal that other businesses can use to thrive. Change is daunting, but the opportunities for businesses that adopt these new ways of doing business are enormous.”
Wolff Olins identified five key behaviors associated with high-growth companies, which the consultancy calls “Game Changers,” who are successfully responding to rapid changes in consumer demand and technology-driven services.
The survey was designed to determine whether other leading organizations recognize the importance of these characteristics and if and how they are adopting similar behaviors within their own companies.
These behaviors include:
- Purposeful: having a clear purpose that is shared with customers
- Useful: enabling customers to do things better
- Experimental: constantly innovating and being comfortable living in perpetual beta
- Boundary-less: fostering collaboration internally and externally
- Value-creative: adds value by creating new business models and businesses
The survey results showed:
- On average, 42% of respondents said that each Game Changer behavior would deliver significant growth (of 11% or more). Twenty-two percent thought they would deliver growth of more than 20%.
- Useful (enabling customers to do things better) was rated by respondents as potentially making the biggest contribution to growth. Forty percent believed this activity would contribute more than 20% growth. Twenty-four percent said that it would contribute to growth between 11-20%.
- Companies that are Experimental (constantly innovating) were seen as having the next most significant contribution to growth. Nineteen percent said it would deliver growth of more than 20%.
- The perceived value of behaving like a Game Changer varies greatly across sectors. Banking, energy, FMCG and hospitality sectors are the most enthusiastic. Professional services, non-profit and property companies are least likely to associate Game Changer behavior with growth. Others are divided. Tech and telecoms see growth in creating new value and experimenting but less in being Purposeful or breaking down boundaries.
There is a gap between what people believe is important and what they are actually doing. This is shown in several ways. Across all behaviors most likely to be associated with growth, the top three were all in the category of being Useful to customers:
- ‘Enable customers to create personalized versions of your product’ was the behavior/action most associated with growth, yet only 22% said their business was doing this
- ‘Enable your customers to use your product in flexible and adaptable ways’ came in second, with only 32% stating their business was doing this
- ‘Involve your customers in your product development process’ was the third behavior/action most associated with growth, yet just 31% thought their business was doing this
Most respondents did think, however, that their companies were acting in a socially responsible way, although they are not connecting it to strategic growth. For example, ‘Consider transparency to be part of your business’ was perceived to be the least valuable to growth, but 47% stated their companies did this anyway, followed by ‘Participate in social good’, which 46% said their business did.
Global uncertainty having short-term affect
In follow-up qualitative interviews with respondents, Wolff Olins found that the global economic uncertainty is affecting growth projections for companies in the short-term, with the majority only willing to project single-figure growth this year. As one respondent commented, “There is no such thing as a company being too big to fail.”
There was also significant emphasis placed on the importance of building a meaningful relationship with the customer: “If you become a more valuable business to your customers, you become a more valuable business generally.”
Innovation was recognized alongside customer-focus to be a key driver of growth. Having the right people in place to drive innovation was identified as critical: “You can have the best people and even if the market is heading the wrong way, you’ll be growing.” It also presents a challenge: “You can’t force people to be innovative. You have to allow them to take risks and fail. When things are going down, people just want to protect their jobs. Ask them to take risks and they won’t.”
Heiselman adds, “Game Changers emerged from our desire to understand the new generation of companies enjoying phenomenal success. If these companies and organizations act differently, what is it that they do and are they signs of a healthier future for other companies who want to copy their success but aren’t necessarily in a position to replicate their business? By identifying the activities in which high-growth organizations invest, we can help businesses embrace totally new ways of thinking and doing business so that they not only survive these challenging times but find growth.”
Game changing companies named
The following companies are recognized by Wolff Olins in the Game Changers report as exemplars of the five behaviors of high growth companies who are successfully responding to rapid changes in consumer demand and technology-driven services:
- (RED), charitable giving pioneer
- Amazon, multinational online retailer
- Apple, multinational corporation that designs and markets consumer electronics
- Facebook, social network and website
- Google, multinational internet search engine
- Grameen Bank, pioneer of microfinance in Bangladesh
- Intuit, US-based accounting software company
- Lego, construction toys
- M-Pesa, a branchless banking service available in Kenya, Afghanistan and Tanzania
- Nike, sportswear and equipment retailer based in the USA
- PayPal, online transaction service
- Tata Docomo, cellular service provider
- Tesco, global grocery and general merchandise retailer
- Zipcar, vehicle sharing company
- Zopa, UK-based company providing an online money exchange service
Tags: Apple, best practices, facebook, Google, Grameen Bank, Intuit, Karl Heiselman, key behaviors of high growth companies, Lego, M-Pesa, Nike, PapPal, RED, Tata Docuom, Tesco, Wolff Oliins, Zipcar, Zopa Posted in Amazon, Apple, best practices, Facebook, Google, Internet/New Media, Studies, surveys, reports | No Comments »
Wednesday, February 15th, 2012
 Andrew Sobel
Just a few years ago, globalization was in full swing, and the world seemed to be bursting with an infinite supply of business.
All this bounty lulled us into taking our customers for granted, maintains Andrew Sobel—until the economy tanked and shattered the illusion of endless prosperity. Suddenly, the old-fashioned “trusted relationship” started to look good again.
“In this post-Madoff era of unpredictability and suspicion, people are looking for deeper, more intimate, and more engaged relationships—the kind that reduce risk,” says Sobel, author (along with coauthor, Jerold Panas) of Power Questions: Build Relationships, Win New Business, and Influence Others (Wiley, February 2012, ISBN: 978-11181196-3-1, $22.95) and three other books on long-term business relationships.
“This is true of customers but also vendors, employees, and other business partners,” he adds. “The days of getting in, making money, and moving on to the next guy are over. When times are tough and the future is uncertain, people want to put down roots and partner with people they truly like and trust.”
Connections begin by asking the right questions
Bottom line: In today’s markets, the most valuable commodity is the ability to connect with others and rapidly build trust. And that begins by asking the right questions.
“Asking questions and letting people come up with their own answers is far more effective than spouting facts or trying to talk someone into something,” Sobel explains. “Telling creates resistance. Asking creates relationship.
In his book Sobel explores dozens of questions that light fires under people, challenge their assumptions, help them see problems in productive new ways, and inspire them to bare their souls (which, of course, strengthens the bonds in the relationship).
Here are nine ways questions can transform professional and personal relationships:
• Questions turn one-dimensional, arms-length business relationships into personal relationships that endure for years. “When a relationship is all business and there is no real personal connection, it lacks heart and soul,” says Sobel. “And therefore you are a commodity—a kind of fungible expert-for-hire.
A client—or your boss—can trade you out for a new model with no remorse or emotion. But when you’ve connected personally, the situation is transformed because clients stick with people they like. Bosses hold on to team members they feel passionately about. Your expertise and competence get you in the door, but it’s the personal connection that then builds deep loyalty.”
Sobel tells the story of a senior partner in a top consulting firm who had to meet with the CEO of a major client. Other consultants were nipping at their heels to get more business from this company.
This powerful, confident CEO, who was in his 60s and near retirement, had seen hundreds of consulting reports. At the end of a routine briefing, the senior partner paused and asked the CEO, “Before we break up, can I ask you a question?”
The CEO nodded. The partner said, “You’ve had an extraordinary career. You have accomplished so much, starting at the very first rung of the ladder, on the manufacturing floor. As you look ahead—is there something else you’d like to accomplish? Is there a dream you’ve yet to fulfill?”
The CEO was nearly stunned. He thought for a moment and replied, “No one has ever asked me that question. No one.” And then he began talking about a deeply held dream he had for his retirement. That question was the turning point in building a long-term, deeply personal relationship with an influential business leader.
• They make the conversation about the other person—not about them. Most of us don’t care what other people think—we want to know first if they care about us. The need to be heard is one of the most powerful motivating forces in human nature. That’s why one of Sobel’s power questions is, What do you think? Another is, Can you tell me more?
“There’s an anecdote I love about a woman who has dinner, in the same month, with two great rival British statesmen of the 19th century, Gladstone and Disraeli,” says Sobel. “When asked to compare the two men she says, ‘After my dinner with Mr. Gladstone, I thought he was the cleverest man in the world.’ And then she adds, ‘After my dinner with Mr. Disraeli, I felt as though I were the cleverest woman in all of England!’
“When you make the conversation all about you, others may think you are clever,” he adds. “But you will not build their trust. You will not learn about them. You will squander the opportunity to build the foundations for a rich, long-term relationship.”
• They cut through the “blah, blah, blah” and create more authentic conversations. No doubt you can relate to this scenario. A person says, “I want to bounce something off you.” Then, he proceeds to spend ten minutes telling you every detail of a very convoluted situation he is enmeshed in. You do yourself and the other person a favor by getting him to focus on the true kernel of his issue. Simply ask: What is your question?
“This is a tough-love question,” admits Sobel. “People will resist it—often strenuously. But you must ask it. It forces them to take the first step toward clarifying what the issue is and what advice they really need from you. You’ll reduce the amount of posturing people do and will move faster toward an authentic conversation.”
• They help people clarify their thinking and “get out of the cave.” The ancient Greek philosopher Socrates said that we perceive reality as if we are chained inside a dark cave. In that cave, we see only the blurred shadows of life outside the cave as they are projected on a dark wall at the back. Our understanding of reality is filtered and distorted.
By asking a series of questions, Socrates would engage his students’ minds in the learning process. In this way he uncovered assumptions and slowly but surely got to the heart of the issue. The “Socratic Method” is still used at Harvard Business School—and it can enable you to help others see the true reality instead of shadowy representations of it.
Instead of saying, “We need to improve our customer service!” Sobel suggests asking: “How would you assess our customer service levels today?” Or, “How is our service impacting our customer retention?” If someone at work says, “We need more innovation,” ask, “Can you describe what innovation means to you? How would we know if we had more of it?” Or if there is a call for more teamwork, ask, “What do you mean when you say ‘teamwork’?”
• They help you zero in on what matters most to the other person. The next time you’re talking to someone and realize you’ve “lost” her—she’s fidgeting, she’s stopped asking questions, maybe she’s sneaking glances at the clock—ask this question: What is the most important thing we should be discussing today?
You will instantly connect with what really matters to her—and the conversation that ensues will help her see you as relevant and valuable.
“Even if your agenda doesn’t get met, hers will,” asserts Sobel. “And then she will want to enthusiastically reciprocate. In business it’s critical to be seen as advancing the other person’s agenda of essential priorities and goals. When time is spent together on issues that are truly important to both parties, the relationship deepens and grows.”
• They help others tap into their essential passion for their work. One of the highest-impact power questions you can ask is, Why do you do what you do? It grabs people by the heart and motivates them. When they seriously consider and answer this question, the room will light up with passion. Dull meetings will transform into sessions that pop with energy and generate ideas that vault over bureaucratic hurdles and create real impact.
“We do things for many reasons,” writes Sobel. “But when you put ‘should’ in front of those reasons, you can be certain all the pleasure and excitement will soon be drained away. No one gets excited about should. In contrast, when you unveil the true why of someone’s work and actions—when you get them to start sentences with ‘I love to’ or ‘I get excited when’—you will find passion, energy, and motivation.”
• They inspire people to work at a higher level. The late Steve Jobs was notorious for pushing employees. He asked people constantly, Is this the best you can do? It’s a question that infused Apple’s corporate culture from the beginning. It’s one that helped revolutionize the desktop computing, music, and cellular phone industries. And it’s one that you can use too—sparingly and carefully—when you need someone to stretch their limits and do their very best work.
“Often, we settle for mediocrity when we need to do our best,” reflects Sobel. “Mediocrity is the enemy of greatness. Asking, Is this the best you can do? helps others achieve things they did not believe possible.”
• They can save you from making a fool of yourself. Before responding to a request or answering someone’s question to you, it’s often wise to get more information about what the other person really wants. When a potential employer says, “Tell me about yourself,” you can bore them to tears by rambling on and on about your life—or you could respond by asking, “What would you like to know about me?”
When a prospect asks, “Can you tell me about your firm?” the same dynamic applies. Most people go on and on about their company, but the client is usually interested in one particular aspect of your business, not how many offices you have in Europe. Ever seen someone answer the wrong question? It’s painful to watch. Asking a clarifying question can save you huge embarrassment.
“A potential client asked me for the names of three references to call,” Sobel tells us. “Instead of running around and drumming up the names, I pushed back, and asked, ‘What particular information are you seeking?
Any references I give you are only going to rave about me!’ It turned out the prospect had no interest in actual references. And in fact, had she called my past clients under that pretense, it could have been potentially embarrassing to me for them to make such a big deal about a small speaking engagement.
What she really wanted to understand was how other clients of mine had tackled the organizational resistance she was expecting. This question—and the subsequent conversation—turned a small lead for a keynote speech into a major, year-long project.”
• They can salvage a disastrous conversation. Sobel’s coauthor, Jerry Panas, recalls the time he asked a man named Allan for a million-dollar donation to his alma mater’s College of Engineering. Though he knew better, the author failed to gain rapport and explore Allan’s true motivations before jumping in with the big request.
When Allan rebuked him for his presumptuousness, Panas realized he had made a serious error. He apologized, left the room, and twenty seconds later knocked on the door and asked the power question, Do you mind if we start over?
Start over they did, and Panas ultimately discovered that Allan might indeed be interested in making a gift—but to the University’s theater program, not its engineering program!
“Things like this happen all the time in business—and at home,” reflects Sobel. “Interactions get off on the wrong foot, and someone gets angry or offended or just shuts down. But people are forgiving. They want to have a great conversation with you. Asking, Do you mind if we start over? will disarm the other person and make him smile. That smile will ease the way to a new beginning.”
One of the greatest benefits of becoming a master questioner is that it takes a lot of pressure off us, notes Sobel. It’s a huge relief to know that you don’t have to be quick, clever, or witty—that you don’t have to have all the answers.
Tags: Andrew Sobel, Power Questions Posted in best practices, Business advice, Viewpoint | No Comments »
Tuesday, February 14th, 2012
Think cover letters are passe when applying for a position? Think again, a new OfficeTeam survey suggests. More than nine in 10 (91 percent) executives polled said cover letters are valuable when evaluating job candidates.
In addition, nearly eight in 10 (79 percent) respondents indicated it’s common to receive cover letters even when applicants submit resumes electronically. The results mirror those from a similar survey conducted in 2008.
The survey was developed by OfficeTeam, a leading staffing service specializing in the placement of highly skilled administrative professionals. It was conducted by an independent research firm and is based on telephone interviews with more than 1,000 senior managers at companies with 20 or more employees.
Managers were asked, “When evaluating prospective job candidates, how valuable is the cover letter that accompanies the resume?” Their responses:
| Very valuable |
21% |
| Somewhat valuable |
70% |
| Not valuable at all |
9% |
| |
100% |
Managers also were asked, “When you receive a resume electronically from a job candidate, how common is it for that resume to be accompanied by a letter of introduction or cover letter?” Their responses:
| Very common |
21% |
| Somewhat common |
58% |
| Not common at all |
16% |
| Never receive resumes electronically |
5% |
| |
100% |
“Although the job application process has increasingly moved online, the importance of a cover letter shouldn’t be underestimated,” said Robert Hosking, executive director of OfficeTeam. “It often is the first opportunity to make a positive impression on hiring managers. It’s also a chance to provide context for your resume, expand on key accomplishments and explain reasons for employment gaps or career changes.”
Added Hosking, “Professionals can stand out from the crowd by using the cover letter to demonstrate their knowledge of the company and explain why they are the best fit for the role.”
OfficeTeam offers five tips for job seekers when writing and submitting cover letters:
- Follow directions. Before sending your materials, read the job posting carefully. Employers frequently list specific instructions to follow when applying, such as including the job requisition number in the subject line of the email or submitting your cover letter and resume in a certain file format.
- Start smart. Address the letter to the hiring manager by name instead of using “To Whom It May Concern” or “Dear Sir or Madam.” If you don’t know the contact’s name, call the company and ask.
- Create a hook. A strong introduction offers a compelling reason to read on. Indicate which position you’re applying for and if someone referred you, then state how you can help the company meet its business objectives.
- Keep it short and to the point. Limit your cover letter to two or three brief paragraphs. Avoid sharing personal details that don’t relate to the position.
- Get it right. Have a friend or family member proofread your materials for typos. Before submitting, confirm the correct documents are included.
Tags: job seeking advice, Office Team, Robert Half, tips on writing cover letters Posted in best practices, Business advice, TechJobs | No Comments »
Tuesday, February 14th, 2012
 Marti MacGibbon
By Marti MacGibbon
Doug is a manager at a large retail firm. Recently his department reported a significant drop in sales. Doug and his team are working diligently to earn a bigger market share this holiday season, so he wants to find a way to lead and instill confidence in his subordinates, but deep down he wonders if he’s got what it takes to rebound personally, let alone carry others along.
Bob’s office is down the hall from Arthur’s, and he works in the same department. Bob is always upbeat, even seems inspired in the face of adversity and challenge.
Doug knows that Bob, a newcomer on the team, joined the company after being laid off by a competitor. Doug admires Bob’s attitude and ability to rally staff’s confidence and morale. He asks himself how Bob does it and even wonders if it’s something Bob was born with.
Bob’s secret is his resilience, and he wasn’t born with it. He built it. Resiliency is the ability to bounce back, adapt to adversity, and roll with the punches. Resilience gives us the flexibility to restore ourselves, and our lives, after difficulty, trauma and loss, and it is a quality in high demand during these rapidly changing times.
Although there may be a genetic factor involved, resilience is not something you are either born with or not. You can learn, build, and develop your resilience. A sense of humor, like resilience, can also be learned and developed, and it, too, can really help you to roll with the punches.
Here are four strategies to help you build your resilience:
Get Connected and Stay Connected.
Resilience does not mean standing alone through hard times. Relationships with others who are supportive and positive are essential to achieving and maintaining resilience. Mentors, friends, family, advisors and associates can provide encouragement, experience, strength and hope during uncertain, adverse, or painful times.
Isolation creates brittleness and inflexibility – you’re more likely to sink into a negative state of mind when alone with losses, failures or trauma. And your connectedness involves not only receiving, but giving encouragement, experience, strength and hope.
When you reach out to support and share with others, you gain and build resilience and allow yourself a chance to heal from your personal injury or trauma. Get involved with support groups, community involvement, etc. And remember to have fun. Fun does wonders for your sense of humor, your resilience, and your health.
Look Back, Learn and Whenever Possible, Laugh.
Allow yourself to review past events and reinterpret them, drawing strength from your experiences. As you review your life, step back and look at yourself objectively, as if you are watching a movie. Review your story.
Find humor where you can, inspiration and courage where you can. Give yourself credit for character and grace and avoid blaming or judging yourself or others. Refuse to engage in beating yourself up or “should-ing” yourself to death. Accept the things you can’t change and take stock of the things that are within your power to change.
One thing that is always in reach, always in your power to change, is your attitude. Everyone has a story. Remember that you are the author of your life story; you may prefer to think of yourself as the director of your “life movie.”
If so, cast yourself as the hero! You can find your bearing and begin working toward a triumphant third act or conclusion. And, as in movies, a little comic relief can’t hurt.
Develop a Plan of Action.
If you want to build resilience, you will need a daily plan of action. Action creates motivation, and motivation creates more action. Always be proactive in the face of adversity, failure, loss, illness or injury. Advance in the face of difficulties or challenges, one day at a time. Remember, you’re working on the next scene in your life’s movie, so make it a comeback story – a triumph of the human spirit theme. Reach out and march headlong toward all that life has to offer. Think: I’m still alive. This experience did not kill me. What doesn’t kill me I can use to make myself stronger and more flexible. Set measurable, doable goals and be consistent with your action plan.
Keep Hope Alive and Practice Being Optimistic.
Always look forward to a bright future. Visualization is a powerful tool used by athletes, performers and people from all walks of life. At least once a day, take time to visualize yourself where you want to be, and celebrate it as though you are already there. Permit yourself to feel all the peace, exultation and joy that comes as you picture yourself in this specific happy situation, having reached your goal. It’s good to visualize the same thing each day – repetition programs your unconscious mind.
Write affirmations or use mantras. These tools can help you to establish your own inner cheerleading squad. When you choose a mantra, be sure it’s positive. “It’s temporary,” “I’m learning,” or “I’m healing,” are positive mantras. Obviously, “Why me?” or “It’s not fair,” are not positive mantras. Practice mindfulness meditation and develop skills to counteract negative feelings and mindset.
Always remember that if you feel good, things will go better. And feeling good is a choice. You can change negative thought habits; this has been scientifically proven with behavioral therapies. Use positive self-talk. Direct your inner dialogue, allowing moment-by-moment opportunities to encourage yourself as a friend, mentor, coach, and advocate.
Remember, it’s your movie, your life story. Often, the best-loved films are stories where underdogs triumph: where the lead characters, presented with adversity, discover their deep inner strength, embrace change, learn powerful lessons, bounce back, and ultimately win the day. Resilient people view difficulty as an opportunity to adapt, create, innovate, and advance in one or many areas of their lives. Does art imitate life, or is it the other way around? That’s up to you.
Marti MacGibbon, CADC II, ACRPS, is a certified mental health professional, humorist, inspirational motivational speaker, veteran standup comic, author, and member of the National Speakers Association. Her memoir, “Never Give in to Fear,” is available on Amazon.com and through her website, www.nevergiveintofear.com.
Tags: Marti MacGibbon, resliiance, sense of humor Posted in best practices, Business advice, Viewpoint | No Comments »
Monday, February 13th, 2012
By Nathan Jamail
 Nathan Jamail
There is an old but true saying, “the best candidate doesn’t always get the job.” If you have ever made a bad hiring decision, don’t worry you are in good company. All leaders and managers select bad hires even if they don’t know it.
The difference is, really great leaders recognize their mistake and fire faster. All hiring managers are sure to make bad hiring decisions, because they made a decision based on situational questions, content on a resume and mostly by their emotions or more notably referred to as “their gut feeling.”
Selecting a bad hire is understandable; but accepting it and not doing anything about it will cost an organization greatly.
There are several beliefs and opinions on how to hire the right person or how to better identify the best candidates and they range from interviewing skills, to aptitude tests, as well as situational scenarios. However, at the end of the day nothing can truly ensure success. There are, however, three things a leader can do to help ensure they have the right people on their team.
Interview before you have an opening
Build your bench. This means managers should not wait to hire until they have an opening, rather, they should prepare for an opening. Many bad hiring decisions are made because of the urgent need for a person to fill an open spot and they don’t have the time to properly interview candidates to ensure the best candidate is chosen.
Building the bench is also a great way to allow a leader to hold their current employees accountable to high achievement. Much like in sports where professional athletes must perform every year to keep their jobs (in some cases everyday), due to draft day coming every year and the fact that there are many players looking to get that job.
In business we should hold ourselves to the same standard. A leader owes it to the entire team to always be looking to add higher caliber employees to their teams and employees should expect it.
This is not a loyalty issue; loyalty should not be based on tenure, it should be based on contribution. Everybody wants to be a part of a winning team and leaders of great teams recruit to hire better people, not to replace those that left.
Action item: Regardless of your budget restraints, actual open head count or current success; conduct one interview per month for the rest of 2012-and let your team know you are.
Don’t hire a victim
No skill or experience can outweigh the bad effects of a victim. No matter the track record, years of experience or how well the interview went, under no circumstances should leader who desires to build top teams and hold their people accountable hire a person with ‘victim disease.’ A person with ‘victim disease’ believes it is always someone else’s fault when they fail or run into obstacles.
They often believe they work harder than everybody else and that their former managers and/or co-workers did things wrong. Keep in mind, this means that most likely their future manager and/or co-worker will do everything wrong as well.
This person never takes personal responsibility for failures or when they do, they have an excuse that points to something or someone else. Most importantly, a person with ‘victim disease’ rarely knows they have it.
Ask questions to find it
Leaders need to ask questions during an interview or conversation to find it. There are many such questions out there, but here are a couple of them:
“Have you ever been part of a project that failed but it wasn’t your fault?”
“Tell me about your least favorite and then favorite supervisor.”
“Why were they your favorite or least favorite?”
There is no one answer that will tell the hiring manager that the applicant is a victim, but the feeling and energy they give while answering the questions usually will tell the interviewer.
Side note: a person with ‘victim disease’ gets passed over when they don’t get a job or promotion they wanted, but a person without victim disease understands that at that time a different person was chosen because the hiring manager felt the other person was a better fit and they are working toward becoming the right fit as well and can tell you what specifically they are working on.
Action item: Prior to interviewing, know the attributes and skills you are looking to hire and more importantly what attributes you are looking to avoid.
Fire faster: The only thing worse than a bad hire is keeping one
As stated, all leaders make bad hiring decisions.The key to not letting it destroy the success in your team is not always in the hiring, but in the firing. This does not mean to throw new hires to the wolves and see if they can survive, rather to give new hires the tools necessary to succeed and hold them accountable to the right attitude and activities.
Many companies have probationary periods where the applicant can be terminated without all of red HR tape. Regardless if there is a probationary period or not, it is the leader’s job to work within the rules and laws to make sure all bad hires don’t become long-term bad employees.
What is fast? That is up to the leader and organization to decide, but some would say that 30 days is pretty fast. Once a leader indentifies that a new employee is not doing the right activities or does not have the right attitude, they need to address it with the employee immediately.
Be sure to ask the employee their perspective and give clear expectations as to what it will take in the near future to remain in the organization. Remember a bad hire does not mean they are bad people, sometimes it just means they are not a right fit for the position or organization. Doing the right thing is rarely easy but always right, for all parties.
Action item: Spend time with new employees and pay attention to their activities, attitude and results and take the necessary action.
Final thoughts
Not every hire is the right hire and not every job is the right job, but accepting a bad decision is wrong-for everyone involved. A leader does a disservice to the team, the organization and the “bad hire” by not taking immediate action.
Nathan Jamail, president of the Jamail Development Group and author of “The Sales Leaders Playbook,” is a motivational speaker, entrepreneur and corporate coach. As a former Executive Director for Sprint, and business owner of several small businesses, Nathan travels the country helping individuals and organizations achieve maximum success. His clients include US Army Reserves, Nationwide Insurance, Metro PCS, State Farm Insurance, Century 21, Jackson National Insurance Company and ThyssenKrupp Elevators. To book Nathan, visit www.NathanJamail.com.
Posted in best practices, Business advice, TechJobs | No Comments »
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