Sunday, July 26, 2009

3 Benefits of Hiring Someone Who's Overqualified

By Dwain Celistan

In the marketplace, there are a wide range of candidates for open positions. As an executive recruiter and coach, there are times when someone is "over qualified" for the role. Many times, these candidates are not actively included in the pool or seriously considered. This is a missed opportunity.

Potential candidates may appear to be over qualified based on items in the position specification. This can range from the amount of experience, education/credentials, having had a more senior role or title and/or having been more highly compensated in the past. For this article, we will consider the over qualified candidate as someone who has had a larger role/title.

Regardless of why someone would pursue a position, there are three key benefits of hiring someone who is over qualified:

Over qualified candidates usually have the technical capabilities to "do the job" immediately. If they have had these responsibilities in a prior role, they can usually come into the role and quickly add value. Their learning curve is short and they have many ideas on how to do the job efficiently and effectively.

These candidates add value beyond the role. These over qualified professionals tend to approach the job differently. They can think beyond the role and see other issues and possibilities. The breadth they bring enables them to provide a broader perspective to the role and its interactions with other stakeholders.

They provide built in bench strength to the organization. Since the over qualified employee has had a larger role, they have an ability to expand their responsibilities. The risk is lower that they will be unable to make the adjustment required.

There are no absolutes in the process of sourcing and placing talent. It does appear that the benefits of hiring someone over qualified are prematurely minimized by phantom risks.

In one role, I hired Bruce as a Director despite prior roles as a Vice President. Conventional wisdom would have suggested that he be dismissed as a candidate. Nonetheless, he was the best candidate of the pool and he joined my team.

Bruce had a great attitude and was quickly able to handle the responsibilities. More importantly, he added value well beyond his required duties and was also a great resource for me, his supervisor. Lastly, when I left as his supervisor, he was qualified and prepared to advance to the more senior role.

Every situation may not be ideal, hiring authorities should strongly consider "over qualified" candidates. They may prove to be huge, unexpected assets to your organization.

Dwain Celistan is a retained executive recruiter and former executive. He is the author of several books including "You're Hired Actions to Get and Keep the Job You Love". His contact information is dwain@reinvent2achieve.com or 630-455-0172.
http://www.CareerAccelerationCoach.com

Thursday, July 16, 2009

7 Human Resource Strategies to Use in a Recession

By Cindy Risling

By now most economists and armchair experts agree we're in a recession.

What both the educated and lay pundits find more difficult to agree upon are the answers to troubling questions like "How deep will the recession be?" and "How long will it last?"

Estimates for recovery vary wildly from the blackly dismal to the rosily optimistic. It seems the only thing we can know for sure is that no one really knows.

With the future so uncertain, business publications have taken to promoting the philosophy that recessions create opportunity... at least for those with the moxie to make success happen. While this may come across to some as a tired cheerleading attempt, there is soundness to the ideology. Even during the Great Depression companies like Kellogg's, Proctor & Gamble and Chevrolet did more than survive, they excelled. The people who steered their winning course did so with a combination of courage and inventiveness. In other words, they used moxie.

So where do you start? What kind of changes will ensure your company succeeds? Below are seven human resource strategies that are easy to implement and can make a big difference.

1.) Lead with Confidence - During these troubling financial times, it's natural to want to take the backseat until the road ahead becomes clear. However, companies need strong leadership to prosper, now more than ever. Providing direction inspires confidence in your employees and helps build a faithful staff. Businesses that lead effectively now will retain loyal staff to meet their present and future challenges.

2.) Communicate effectively - Making sure people have the information they need is the foundation for any good relationship. Being honest and open with employees is especially important at a time when they may be dealing with serious concerns outside of the office. Present worries might include a laid off spouse, the possibility of their own layoff, fears about not being able to pay the bills, etc. As their leader you have the responsibility to lessen any stress they might be feeling by communicating openly about the outlook for staff members at your company. Don't forget to communicate frequently because your employees' financial positions might be changing quickly right now.

3.) Recruit purposefully - The anticipated global shortage of workers has not gone away: it has just been postponed. The reason? Baby boomers are choosing to work a little longer because their retirement savings have been deflated. Once the market comes back fully, you should expect a mass exodus as the boomers leave the workforce. Companies who make severe staffing cuts and don't keep their HR people connected to potential hires will be caught severely short staffed. Savvy companies have a great opportunity right now to hire talented people who have been down-sized by other organizations.

4.) Make cuts strategically - Consider outsourcing the functions you can to help reduce costs, but don't forget to take good care of any employees you might eliminate. Generous packages create goodwill and increase loyalty from those who remain. What's more, the departing employees just might be more willing to return to work when times are better and your company faces the global staffing shortages that the recession postponed. Generous packages might seem out of the question in tight times but you should give serious consideration to offering the maximum that you can. Your company will be better able to recruit new staff in the future if its reputation is bolstered by how it treated people during the 2009 recession.

5.) Be strategic about delivering PD - Use your slower times to sharpen the skills, technical and personal, of your employees. This will help keep staff members engaged and equip them to provide the exceptional service that can sustain your company now and contribute to its prosperity later (see 6).

6.) Take great care of your customers - Remember the days when you attended networking events to stay connected, while secretly hoping you would not get too many new engagements because you did not know where you would find the staff, time or energy to provide the service? It all seems like a distant memory but it was probably less than 12 months ago.

What most business owners wouldn't do if they could just have that problem again!

Instead you're seeing business decline and you're wondering how to regain it. Part of the answer is in training your people to be customer service specialists. Step back to the times when you only hired people who would go the extra mile to give your customers exceptional experiences with your company. Re-new your company's customer focus now!

7.) Avoid layoffs with creative strategies - Before you cut staff, consider alternative ways to save money while still saving jobs. A day off without pay, work sharing arrangements, worker sharing with other companies, salary cut-backs, government assistance programs - these are only a few of the numerous possibilities that may work for you and your employees. Get creative!

Whether you consider yourself to have moxie or not, the current recession calls for courageous and inventive thinking. Implementing ideas like the seven above can not only help your company weather this global storm, but position it for full sail ahead when the storm has passed.

Cindy Risling is Human Resources professional with 20 years of experience and she assists business owners by helping them shore up their Human Resources practices.

Wednesday, July 8, 2009

Top 10 Signs You're a CEO in Trouble

By Michael McCann

10. Staff meetings are too pleasant. An early warning signal of wavering passion and possible discomfort. Meetings should be a time of dissent and discussion - yes-men won't push the company forward.

9. The company parking lot is empty on weekends. Are your employees committed to the company's success or simply punching the clock? They may need a boost of confidence in the product or the team.

8..You view strategic consultants as a way to solve problems. Nothing brings a group of people together like solving a problem. Make sure your issues can't be solved internally before bringing in outsiders to clean up the mess.

7. You're being filtered from daily issues and customer contact. A sure sign that you're too far removed from the real happenings of the company - or perhaps that you're an embarrassment.

6. Eighty percent of your customer surveys come back marked "No forwarding address." Close contact with your customers is more important than ever. Make it a priority.

5. You're consuming antacid tablets by the handful. Delegation is the key to sharing ownership in the progress of the company and to maintaining your health as an executive. Learn to let go.

4. You have more lawyers in your company than salespeople. Keep the paper shuffling to a minimum; put a premium on getting quality products out the door.

3. You can't get your accounting firm to return your calls. Make sure your finances are in order and maintained by trustworthy people. If you don't, the Securities and Exchange Commission may come a-knockin'.

2. The chairman tells you it's OK to attend the board meeting by phone. You're more likely to win the lottery and hit the trifecta in the Kentucky Derby in the same year than you are to succeed if you don't have the board of director's backing.

1. You win "CEO of the Year." Like gracing the cover of Sports Illustrated, the curse of this award cannot be underestimated.

Make more money faster by easily connecting with hard-to-reach decision makers who can buy your products and services...NOW! Get started free by getting Michael McCann's new Special Report excerpted from his newest edition of his popular business development book, Connecting with Key Decision Makers (How to Reach Hard-to-Reach Businesspeople Who Can Say "Yes")...just for asking at http:/www.GlobalBusinessCafe.com/

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Michael McCann is a 25-year veteran of developing unique and professional business development programs that create tangible results for individuals and companies. Let him help you instantly...free!

Monday, July 6, 2009

You and Your Business at the Top - Seven Success Strategies to Take You There

By Binita Patel

Great health, wealth and success! We see people striving for these things every day. Do they reach their pinnacles? Sadly, no. What's holding them back? What separates them from the 'Donald Trump's' and 'Richard Branson's' of this world? To gain the answers, one must study and master the ways of the world's leading business people. How did they pave their way to millions and in some cases billions of dollars? Some from humble beginnings, some from privileged, but they all had one thing in common - an innate desire to succeed. They didn't care who laughed at them, they had a single-minded determination to reach the top and did not give up until they were there.

Extensive research into the strategies and thinking of the top business moguls showed the following:-

1) Goals - they set them clear and they set them big!

2) Action plans - they created realistic and achievable plans and stuck to them!

3) Mindset - they all had in common the success mentality that catapulted them to the top.

4) Passion - they loved their business and nurtured it as it grew.

5) Determination - nothing kept them down. If they fell, they got right back up again.

6) Mentors - they mixed with and learned from high achievers and top business advisers.

7) Education - they constantly adapted and kept their finger on the pulse of change and latest wisdom.

The rise of the internet has given more opportunities to the ordinary person than never before in history. Huge success stories have been well documented through websites, blogs, forums, articles, newsletters, etc,etc. The ordinary person has been handed the golden chance to practice and master the strategies of the greatest business minds. Immense wealth could be within their grasp and yours too! By owning a laptop and access to the internet, the possibilities are endless.

One would become overwhelmed and confused and possibly scammed without the right guidance. This is where a legitimate and credible mentor is needed. The reviews of online money making programs are endless. Discussion forums like warrior are an ideal way to weed out the fraudsters from the genuine schemes. I have found the most legitimate and top earning program. If you would like to try out the above 7 success strategies, read my review and decide if you want to join me and make it to the top too!

Binita is a member of The Online Coaching Club, Maverick Money Makers, run by Mack Michaels and is specializing in Affiliate Marketing. See her review of the club on http://www.wealthylifereality.com

Thursday, July 2, 2009

The 7 Crucial Errors in Finance

By Safaraz Ali

A number of crucial errors can expose a business to severe difficulties and can lead to the business trading insolently and eventual liquidation. The following is not an exhaustive list however one that lists the major faults. The key task for any business is to identify, and then to develop a strategy to overcome and mitigate the exposure.

1. Excess Borrowing!

2. Wrong type of Borrowing, there are many options for a business to borrow or raise finance and can range from overdraft, business loan, factoring/invoice discounting, asset based lending, leasing/hire purchase, payroll financing, merchant cash advance, private finance/angel investment. The business needs to decide on the best source for price and stability for the business.

3. Borrowing over the correct period - particular risk for a business is to borrow over too short a period where the cash flow of the business will suffer.

4. Not Realising that cash flow is king! It is a sad fact that many profitable businesses fail due to cash flow issues.

5. Excessive Spending. There are many business owners who have a view that they need to have the image of a successful business to gain success - big offices, high end equipment, vehicles. There is also poor control over costs - staffing, poor efficiency and productivity and lots of wastage.

6. Inadequate contribution/ investment from owners (shareholders). The owners of a business contribute by not taking out too much profit (dividends) and also investing further capital if required. Too many businesses when they are successful take out as much money out of the business as they can which makes it difficult for the business to innovate and grow.

7. Failure to manage risk - growing too fast, bad capital investments, insuring inappropriately against perils.

Safaraz Ali is an Impartial Finance Broker and can be contacted on by email: safarazali@easy4life.co.uk
http://www.easy4life.com

Friday, June 26, 2009

How to Apply the 5 Fundamental Principles in Mastery of Detail

By Shirland Carrington

Mastery of Detail is an excellent leadership attribute to have in developing a successful business. There are 5 fundamental principles that are essential to mastering the nuances of the detail. We must become skilled practitioners of the system that we use in our everyday business to get to the next level and beyond. I will use going through the process of focusing on your core business clients as a way to demonstrate the processes of becoming a true mastery of details.

They are 5 guiding principles in mastering the details in your business as listed below:

1. Initial Impact

You normally have a core segment of our clients that like clockwork always orders our products or use your service on a consistent basis. We sometimes take these clients for granted and instead focus on "new" business. We have these clients in our hip pocket so we "ignore" them. When we ignore people sometimes our competitor come along and listens to this segment and you lose them as clients. If you had a system in place to counteract this minor detail, then loss of revenue would not have occurred.

We tend to spend our time on "new" business who tends to be people that are expensive to acquire whether they are asking numerous insignificant questions or taking up your time. They either order little or no business which makes acquiring new business a very risky investment. What kind of impact could we have if we changed our focus and invested in ways to pay attention to our core business?

2. Repetition

The key to running a marathon is the first step, so we must develop ways to keep our core clients happy. Once we institute these methods we must make a conscious effort to use them on a regular basis. You should continue to chase new business, but you should only indulge in win-win relationship. Repetition is the motherhood of learning so the more you repeat this practice the better chance it will become a standard practice in your business. When everyone in your organization is focuses on the simple detail of not ignoring your special clients.

3. Utilization

If you don't use new ideas or concepts, then they will just die on the vine. The old adage of use or lose is truly adaptable here. The benefits of focusing on your core business will lead to referrals and increased revenues. The main work is in the execution of the details but the benefits are unlimited.

4. Integration

We must repeat this process again and again and again until it is embedded in your business's system. When focusing actively on a certain detail, then it is integrating into the normal day to day operation of your business. Once true integration occurs then we just have to follow up to make sure that integration is here to stay.

5. Reinforcement,

The benefits of mastering this detail are in the follow up. When you master one detail you must always make sure that your people continue to focus on this detail on a daily basis. We inspect what we expect so if we don't continually apply attention, energy and focus to reinforce this detail then it will just become ineffective

I use this example of tapping into an ignore resources in our business to show that to truly master detail is a commitment that you must make on a conscious level. If you are able to identify the different areas of your business with this same focus there is no doubt that you will be successful in your business. You must give attention, energy and focus to all the little details in your life and business to make the necessary changes. Successful leader will use these 5 fundamental principles to become a true mastery of detail to take his or her business to the next level.

Shirland Carrington, BS, MBA

Shirland Carrington works from home with an outstanding personal development company that provides products that unsurpassed and are transformational. We help eliminate limiting beliefs and negative mindset holding you back from achieving success.

Fire your boss while working from home and replace your yearly income on a monthly basis.
http://www.roadlesstravelledtosuccess.com

Saturday, June 20, 2009

How to Eliminate the "Dead Wood" in Your Staff

By Richard Moran

When you are running your own company, you will soon find that it is not all about sales and products, but it is also about good human resources and human resource management. If you want your company to do its best, you will need the best employees that you can come across. A company's employees are its most valuable asset and every business owner must have his or her employees working with them and with each other. It is important that you know how to get the best out of your staff if you are running your own business. The easiest way to get rid of the "dead wood" in your staff is by finding out which employees are doing the best for you and which ones are slacking on the job.

To find out which employees are doing the best work for you and which ones are not, you will have to get involved with them on a personal level. This will also help you to build a strong employee foundation. Employees respect a boss that shows interest for them on a personal level. When you start to know your employees on a personal level, you will be able to see which ones of them can envision themselves with your company in the future and which ones cannot. The ones that cannot see themselves staying with your company for a prolonged period of time may not necessarily be bad workers, but you may want to pay more mind to the employees that are interested in staying with your company. However, if an employee cannot see themselves staying with the company because they do not think they can grow there, you should evaluate them further. If they are a good employee, you should give them promotions and raises accordingly and they may decide to stay with your company. Keeping the best employees you have is a good step in getting rid of the "dead woods" on your staff. Also, giving promotions to the workers who are doing the best job for you may motivate the employees that are giving you second rate work. Of course, if you cannot motivate the employees who are giving you second rate work, you can continue to work on eliminating them from your staff.

Employee incentives are another good way to see who is doing what in your staff. If you can get a worker motivated with incentives, they will probably show some promise in the future. If you cannot get a particular worker motivated with incentive programs, they are going to be very hard to work with in the future. If an employee cannot be motivated with rewards, they may be one of the "dead woods" in your staff that you will not be sorry to lose. These are some of the simple things you can do to eliminate the "dead woods" in your staff. All of this starts with knowing your employees on a personal level. When you know these people that work for you on a personal level, it will be easier to see which employees are an asset to your company and which ones are just trying to get a paycheck from week to week.

Rich Moran is a consultant specializing in General Business, Print, Web, Hotel, and Marketing Consulting. He suggests you visit a consultant for your needs. With 20 years experience in marketing, internet and communications he now practices with http://www.Langohr-Foundation.de. You're invited to read more on the BLOG - http://langohrfoundation.wordpress.com/

Tuesday, June 16, 2009

The Six C's of Leadership - Embodying the Characteristics of an Effective Leader

By Theo Gilbert-Jamison

There are six C's of leadership that anyone who has influence and accountability for team success should possess. Having the ability to master these six characteristics is the embodiment of a highly effective and successful leader.

  1. Competence is more than knowing how to do something. It is also displayed in the level of confidence, finesse, and effectiveness with which it is done. For many leaders, once they attain a certain level in their career the eagerness to learn and grow diminishes. They feel they have arrived. However, in order to be a highly competent leader, you must be committed to life-long learning, and be effective at applying what you know.
  2. Compassion is a balance of kindness and empathy. Too many leaders feel that the only way to drive productivity is to manage with an iron fist. Nothing could be farther from the truth. You must possess a combination of understanding and care for others. When dealing with employees, tough love is not the best policy.
  3. Courage is doing what is right, even when it is unpopular. Never mistake bullying in business for courage; they are two very different things. Bullying is getting your way through intimidation of others. Being courageous is fighting for what is right for your team, even when it involves great risk.
  4. Charisma is a positive energy and an enthusiasm that inspires others to change. When a leader possesses charisma, their warmth and joy is contagious. They don't waste time focusing on what cannot be done and why; they are excited, passionate and optimistic regardless of whatever challenges come their way. People eagerly follow charismatic leaders.
  5. Commitment is best demonstrated in the level of dedication and allegiance you have toward your team. The commitment level of great leaders extends far beyond the number of hours they spend at work, but in their steadfastness in working toward the long-term success of their team.
  6. Communication is the ability to share information in a clear and concise manner so that everyone understands. Effective leaders master the skill of communication by taking complicated information and making it simple.

Bottom-line, becoming a person of influence that others will want to follow begins with working on you. Exceptional leaders are competent, committed to the cause, courageous, great communicators, charismatic, and possess a great deal of compassion for others.

Theo Gilbert-Jamison is CEO of Performance Solutions by Design, a global performance consulting firm that caters to luxury and premium brands with an emphasis on transforming organizational culture. She is also the author of two books, The Six Principles of Service Excellence (2005), and The Leadership Book of Numbers, Volume I (2008). As the creative force behind Performance Solutions by Design, Theo is a highly sought after speaker and consultant to CEOs and senior executives in high profile organizations. Please visit Theo's website at http://www.psbydesign.com

Tuesday, June 9, 2009

Efficiency Vs Effectiveness

By Tim Millett

The psychologist and author Abraham Maslow once wrote, "You will either step forward into growth or you will step back into safety." Organisations and the individuals who are participants at all levels are often defined by their ability to embrace the future in pursuit of established goals. It comes down to an organisation that is merely efficient and able to achieve results with precision, but not necessarily adaptability, or one that is effective and can embrace a changing future for the health of the organisation.

In its simplest terms, being efficient means having internal and external processes that lead to the desired end result. Efficiency refers to having the means to produce the desired effects. For example, a sales team may have a weekly sales goal and it is met 90% of the time. The team is considered to be efficient in that the desired amount of sales is produced with the least amount of waste or overtime.

An Adaptable Organisation

But is being able to meet a weekly sales goal an indication of an effective sales team? Could the goal or the sales figures be higher? Effectiveness in an organisation is doing the right things which leads to an adaptable environment capable of competing in the future. An effective sales team does not just meet sales goals without question. An effective sales team will manage relationships with people and organisations that can prove to be the foundation for new business in the future. The effective sales team can create a viable customer base that includes high rates of retention and customer satisfaction.

An efficient sales team meets its goals, but what if the goals change or are expanded? How easily can the sales persons adapt to the new environment? If new products are introduced, how quickly can the team use established customer relationships to jumpstart sales?

Instead of just focusing on making sales efficiently, the sales team should also be constantly evaluating each of its actions and procedures looking for ways the organisation can be more adaptable, cost efficient, productive, innovative and customer oriented.

Effectiveness and Quality

The concepts of efficiency and effectiveness are important for every organisation because they go right to the heart of output and quality. An organisation that is efficient is able to achieve its goals, but there is not necessarily a relationship to quality. You can sell 50 widgets in a week, but is the customer satisfied and willing to repurchase the widgets next week? Or is the method of salesmanship and the quality of the widget so low that it is a one-time sale?

Efficiency and effectiveness are applicable to all organisational functions including management or leadership, team building and employee performance, sales, production, innovation, and all internal processes including those in the business office. For example, an efficient accounts payable department pays company bills on time. An effective accounts payable department has a system in place which enables the company to take advantage of discounts for early payment and is able to integrate payment information with purchasing data in order to insure the least cost is incurred at all times. It is accounts payable that often becomes the information source for trending prices.

More Than What is Expected

There is another way to look at efficiency and effectiveness. An efficient organisation or process will perform as expected and operates in the short term. An effective organisation asks if the performance meets the mission of the organisation and contributes to long term success and sustainability. An efficient organisation spends the expected amount of money to produce results. An effective organisation measures whether the money spent improved its ability to meet future goals.

An efficient organisation can produce immediate results by relying on "safety" in the words of Maslow. The facts and figures supporting the efficient production of output are safe. The effective organisation looks beyond the facts and figures and builds a quality organisation that is prepared for future growth. An organisation should be both efficient and effective, but if there had to be a choice made between the two...effectiveness is more important.

In short efficiency is about doing things right, whereas effectiveness is about doing the right things!

Timothy Millett, head trainer at i perform, has extensive expertise in performance training, sales training and customer service training. Tim has helped participants from organisations such as SWIFT and UBS achieve peak levels of personal performance. For more information please visit Management Training.

Tuesday, June 2, 2009

The Easiest Way to Improve Meetings

By Peg Kelley

Maybe the meetings you call, or the meetings you attend, are okay. The agenda is clear, people stick to the topic pretty much, and you end on time. Congratulations! You already run better meetings than many others do.

But do people look forward to your meetings? Do they feel that the meetings are enjoyable and effective? You can improve your meetings significantly by doing one easy thing. In fact, it's the easiest way to improve your meetings. Before the meeting, review the agenda. The agenda captures the content of your meeting.... what the meeting is about.

Most of the time, that is as far as the meeting planner or chairperson goes. "Set the agenda," he or she thinks. "Then hold the meeting."

Try this instead: review the agenda and then think about how you will run the meeting. That is, the process of the meeting. Will you introduce the agenda item(s) with handouts? Will you send that material before the meeting? What do you want as a result of the topic - new ideas? A decision? A thorough discussion followed by a sub-committee meeting? A recommendation to senior management?

Once you answer these questions, you can determine the best way to structure the meeting. If you want new ideas, then you might have some creative thinking exercises ready. If you want a decision, then consider the best way to come to that decision - is it a vote or a consensus? In each case, how will you get to that point in the meeting? If you want a full discussion, how will you make sure everyone has an opportunity to speak? What if someone dominates the conversation? If there will be a sub-committee, do you already know who should be on it? Or will you ask for volunteers? What should a recommendation to senior management include? And do you want to start the meeting with an ice-breaker? If so, what one?

This may seem complicated. It is actually very easy. Giving just 15 minutes of thought to how you will run the meeting before you start it, means you will be ready to handle whatever happens in the discussion. It also means you will reach the desired outcome efficiently and effectively. People will leave your meeting thinking, "Now THAT was a good meeting!"

Peg Kelley, MBA, has been a professional meeting facilitator for 25 years & is co-author of the booklet "39 Secrets for Effective and Enjoyable Meetings" available for $6.00 at her Facilitation Plus website at http://www.meetingtoolsandjewels.com. She publishes a blog at http://meetingsmaven.typepad.com.

Thursday, May 28, 2009

The Four Primary Functions of CEO Leadership

By Rick Johnson

The majority of effective CEO/President leaders seem to be natural visionaries. Although, I admit, that there are successful leaders that can't see past lunch. However, those leaders without the vision that are successful are successful because they have the unique ability to surround themselves with high quality people. Almost unanimously this type of leader has at least one member of his team or Board of Directors that fills that visionary void. Today's individual leadership models, to be effective, must embrace an empowering framework not a commanding one. The most effective way to get employees to release discretionary energy, ideas and information is to mobilize their human energy through empowerment. That is the basis of the "Lead Wolf Model" of leadership.

1. The Visionary --- This is the platform for the functions of leadership. A visionary leader defines the company's destination. They craft the core values and define the culture of the organization. Clarification of goals and initiatives are a primary responsibility and the leader must distill a concept of success throughout the organization.

2. The Cheerleader --- The cheerleader's primary responsibility is to keep the team focused and motivated. They in essence are the primary team builder starting at the top with the executive team. But creating an effective executive team isn't enough. The leader must instill the coaching and mentoring concept in the core belief system of his executive team to insure that these values are passed down throughout the organization.

3. The Role Model --- Do as I do. That is exactly what employees will do. The leader is and must be highly visible to all employees. The leader has a responsibility to reinforce the success principles and core values of the organization. Day to day actions, managing by walking around, open communication, empowerment and generating employee feedback are key responsibilities of the leader as a role model.

4. The Last Chip ---- The ultimate decision maker for the toughest decisions. This requires mental toughness, total honesty and integrity. These types of decisions are often forced by external forces, unpredictable circumstance or long term investment activity. The leadership function called the last chip is defined this way to reinforce the concept of empowerment. A leader's primary responsibility is not to make day to day decisions but to empower his employees to make the majority of those decisions with only those critical, long term, high investment, futuristic decisions reserved for the leader.

All four of these functions are critical to the success of the leader and critical to the success of the organization. All four of these functions including the "Last Chip" apply to all other leaders in the organization to the degree that is relative to their functional responsibility. The definition of "Last Chip" is the only function that carries with it a level of variability. Keeping these four functions of leadership in the forefront when building your own personal leadership model will help you maintain a servant style embedded in your model which is the only way to maximize success in today's environment with today's workforce.

Check out Rick's new CD and workbook Real World Leadership Kit --- "Learning to Lead So Others Will Follow: http://www.ceostrategist.com/resources-store/real-world-leadership.html

http://www.ceostrategist.com - Sign up to receive "The Howl" a free monthly newsletter that addresses real world industry issues. - Straight talk about today's issues. Rick Johnson, expert speaker, wholesale distribution's "Leadership Strategist", founder of CEO Strategist, LLC a firm that helps clients create and maintain competitive advantage. Need a speaker for your next event, E-mail rick@ceostrategist.com

Tuesday, May 26, 2009

Finding the Right Metrics For Marketing

By Sam Miller

Marketing is an essential part of every organization. Companies, in most cases, invest huge amounts for marketing efforts since such could pave way for big earnings. Marketing however is not that simple. In fact, it can get complicated at times, especially if the strategies are not studied well. Therefore, finding effective metrics for marketing is a continuing challenge for business owners.

Measuring the performance of the implemented promotion metrics is important. Sadly, many PR professionals ignore this truth. They fail to remember that evaluation of a specific promotion plan is still part of the whole marketing strategy. Managers and owners would assess whether the promotion move was effective or not only through evaluation.

There are key marketing measurements that companies may use in assessing their promotion campaigns. But before going through details, let us understand first what these marketing metrics do and why they are deemed relevant to business operations.

Marketing metrics have become an important part of the whole promotion process. Businesses today are keen on finding whether the launched marketing campaign has effectively reached its market or not. This practice was brought about by the stiff competition in the corporate world nowadays.

In definition, marketing metrics are measures taken by either a company or organization to estimate and eventually bridge gap between the marketing strategy, its implementation, and the result. The benefit of having promotion metrics in a business is that lapses in the marketing plan can be addressed properly. Thus, there is always a chance to perfect a campaign. In the same level, those marketing plans, which did not create an appeal to the market, can be replaced with a much better marketing approach. With all these efforts, profits for the company will be within reach.

Now what makes an effective marketing metrics is the next question here. The answer to this is quick response. Remember that while you are measuring the performance of a specific campaign, it does not mean that the said campaign should be simultaneously stopped, too. Therefore, immediate response is the key to a successful promotion metrics.

Among the areas that marketing professionals should look into during their evaluation of a campaign are the revenues per client and the average volume of orders. These two should be made primary focus of promotion metrics. Most likely, an increase in the volume of orders would normally result to increase in sales. Take note that companies would assess performance based on outputs, thus, it is important that for a campaign to be regarded as successful, then it should have significant effect on sales.

Two things can only happen after a marketing plan has been created. It will either be a failure or a successful move. Companies would obviously want to get rid of failures. Hence, best effort is required from each member of its marketing team. Here are some of the helpful tips. Determine a specific goal. For instance, an increase in sales is a common target in every promotion campaign. Discuss possible problems that may be encountered during the campaign's implementation. Likewise, draft countermeasures to address the possible problems. Do not forget to assess the performance of the said campaign based on the agreed goals. This is because assessment is a very important part of the metrics for marketing.

If you are interested in metrics for marketing, check this web-site to learn more about roi for marketing.

Monday, May 18, 2009

Genius Management 101 - 6 Rules to Develop Talent Management to Drive Organizational Excellence

By Dr. Jim Sellner Ph.D.
  • Genius Managers grow strong performers.
  • They do it right by building relationships one conversation at a time -- many times.
  • Genius Managers use the know, like, respect, trust dynamic.
  • Genius Managers develop people's competencies and motivation.
  • Genius Managers work everyday to align, engage and empower employees.

The genius manager's 6 rules:

Rule 1. Set a Measurable Goal

  • Every goal and action plan is written to make sure it happens. Dates and names are attached to each item.

Rule 2. Develop a Strong Hook to Motivate People

  • Conversations grab the employee's interest, usually brief and to the point.
  • The genius manager knows the employee's job specific requirements.
  • S/he tells stories that engage people in their everyday world.
  • S/he asks people to tell stories that convey successes and failures plus what has been learned and how it can be applied.

Rule 3. Convey a Focused Message that Respects the Person and Her/His tasks.

  • Talk directly with the person. Maintain eye contact.
  • Appreciate each person's contribution.
  • Always keep one key performance improvement in mind. Ask for the employee's input.

Rule 4. Be Aware of The Person's State of Mind.

  • When face to face with a direct report, pay attention to her/his voice tone and body language.
  • If you sense some upset, find out what going on.
  • Ask, "What might you do right now to relieve your upset?"

Rule 5. Every employee is a customer.

  • Ask, "How can I be of help?" "How am I getting in your way?"
  • As in the customer relationship, so too in the employee relationship, outline a call to action.
  • Describe and negotiate mutual benefits to both the employee and the company.

Rule 6. Make Responding An Easy Requirement For the Other Person

  • No matter what kind of situation, whether it be tense, conflicted, relaxed or hurried, be available to hear the person's point of view.
  • Listen carefully for problem-solving opportunities.
  • Reflect back what you heard to gain people respect.
  • Clarify the issues so people know that you are working together.
  • Jointly work out a solution so people develop a trust that you have their best interests in mind.

Bonus Tip: Every once in awhile, surprise your employees with some kind of goodie that they will appreciate.

Be a Genius manager -- always on the hunt for ways to bring out the genius in others. No idiots. No dummies.

To get your FREE Instant Access to -- A TASTE of GENIUS -- go to http://subject2change.ca
From Dr. Jim Sellner, PhD., DipC. -- The Genius Leadership Way

Saturday, May 9, 2009

Failure - The Springboard To Success

By Martin Sawdon

"What kind of bird-brain are you? Gee-Whiz, a three year old could have done a better job than that!" As contributors to the future success of your organization, those words might be the most counterproductive in the English language. How often have you seen or experienced a response like this to an error at work and the victim, already downcast by disappointment at failure feels even worse after a thorough tongue-lashing.

What do we teach by behaving like this or condoning it? We demonstrate our belief that success is everything, the only acceptable outcome of every initiative. Had Edison thought that way we would still be relying on candlelight for those long, dark winter evenings!

If you want your workplace to be ultra-successful, cutting edge technology, a unique product, the best processes and people alone will not, cannot take you there. Yes, the workplace ultra-successful in bean-counting terms shares all those qualities but the magical additional ingredient is becoming a place people would almost die to join, becomes more successful by encouraging discovery and innovation. As leaders, this is something we must nurture............and failure is a stepping-stone on the way to success.

The workplace ultra-successful in bean-counting terms will not, cannot achieve that status unless it becomes a workplace which people would almost die for the opportunity of joining. That's the difficult part. The easier components are those which typically come to mind immediately: securing great technology, a unique product well made or delivered, the best processes an accomplished sales force..........and one thing more:the encouragement of discovery and innovation. Part of that is putting in place the characteristics of the appropriate environment and there are two. The first is the easier: the physical environment and requirements. More difficult is creating a culture which encourages discovery and innovation and even more importantly, accepts mistakes, our people's and our own.

How many of us learned to ride a bike without ever putting a toe to the ground.........became fluent in a foreign language without embarrassing moments...........or learned to dive without experiencing the occasional bellyflop? Failure is not the problem. The problem is failing to learn.

The emergence of a pattern of errors signals the need to take some steps very quickly, there are important discoveries to be made, questions to be asked. One of the most important is whether this staffer is working in an area which they love, is he or she practising their values? Unless that is the case she will never excel. Sometimes we might discover that the best option both for our organization and the individual is to find another role, one they enjoy and in which they can succeed.

The ultra-successful workplaces practises enlightened management but that does not mean it guarantees employment for life. When it has failed in its goal to hire for values, when it recognizes that a staffer's talents are incompatible with those needed in the organization, rather than fire them dramtically and with hard words, with respect and compassion it guides them to another organization, more suitable.

The next time one of your people fails, ask the questions contributing to their future success. Harness the power of failure as a springboard to success!

The Top Ten Questions To Ask Following A Team Member's Failure...in an atmosphere of collegial exploration.

1) What was the desired outcome?
2) What were the unheeded early-warning signals?
3) What were the most important resources which were not consulted?
4) What intuitive signals did you overlook?
5) To what extent were you on your best game and what was standing in your way?
6) To what extent might the result have been influenced by better time management?
7) If starting again, what would you do differently?
8) In terms of benefiting the organization, what's the most important learning ?
9) What's the most important learning about your self?
10) What's the best way in which I can support you right now?

Martin Sawdon, May 2009.

Martin Sawdon champions creation of The Sustainable Workplace™, that's the workplace ultra successful in beancounting terms which can only be achieved by creating a place people would almost die to join. He does this through his speaking and coaching. You can visit Martin at http://www.coachingworks.ca and http://www.thinktanksummit.com and contact him via martin@coachingworks.ca

Wednesday, April 22, 2009

Social Media Marketing - 7 Tips For Using Twitter For Business

By Cameron Groth

The mere title of this article may seem deceptive to some after you read the tips below. The idea of social networking isn't to sell or market your product or business opportunity at all. People who use social media for this reason may get some success here and there, but in my opinion they're totally missing the point of it. In the long run, it is the user who employs the following tips that will get the most from their social experience.
  1. Build a relationship with your followers! This is by far the most important tip here. If you forget all but one tip on this page, remember this one. Social media sites exist to enhance the relationships you have with family, friends and associates. Become interested in as many of your followers as you can, people like to feel important. If you have a thousand followers on Twitter but you're still able to form a relationship with a person based on their interests, they're going to follow you wherever you go.
  2. Message people regarding their interests, not your own. If your followers are human (and most of them probably are!) they're just not that interested in what you do in your spare time or what you did on the weekend. Certainly you can tweet about what you're up to and what you did on the weekend, that is the point of Twitter! But you don't want to be directly messaging people ranting on about your business or your roast tonight with Aunt Esther. Talk to your followers about their interests! People are much more likely to talk to you about something they're interested in, and the aim of Twitter is to build a relationship. If you're genuinely interested in the person you're talking to they can feel it and they will respond well to it.
  3. Provide quality updates. Don't overload people with updates. Nobody likes a Twitter-maniac, in fact people will probably remove you from their list if they feel you're overloading them with useless information constantly. Don't spam the same comment either, even if it is used sparingly. Use identical comments twice (max) and then move on. How annoying is it watching the same TV-ad once every ad-break for a whole week? The updates that are most successful are the ones that relate to the common interest of your followers. In use of Twitter for business, 75% of your updates should be about (but are not limited to) network marketing personal development you're going through or interesting facts and tips. Maybe even some inspirational quotes! Anything that relates to the interest shared by the majority of your following. The other 25% should be personal updates, because you want to appear human to your followers too, no-one wants to be friends with a machine.
  4. Group with people who share common interests, not randoms. You don't want to be connecting with people who have no interest in you and share none of your interests. These people are either following you so they can get more exposure for themselves, or they're allowing you to follow them for the numbers (makes them look and feel important). In a way, you could use these random people to get referrals to others who may share some common interests. I think it's probably more efficient for you to only target people who share common interests, let the randoms refer for themselves, don't waste your time chasing it.
  5. Do not directly sell to your followers. Rid yourself of the selling mindset when using social media. This is not a sales pitch, it isn't a huge list of potential customers. This is about you making quality connections with people around the world who may come to value you and help you build your credibility. Sales may come indirectly sooner or later, but focusing just on sales and marketing in the social network will end in failure in my opinion. If nothing else, social media is fantastic practice at building relationships which is so vital in our industry. Without trust, value, common ground, empathy in your networking (in social media and otherwise) all you're doing is plodding along and maybe forcing your product down some peoples throats.
  6. Allow yourself to be taught by others! Just as you are letting people know what is happening in your life (and in your company, in your personal development etc), read and become interested in other people. There are millions of people on Twitter, and most of them will have a fascinating thing they can teach you that you never knew! Twitter is a great social networking tool but it can also be an awesome educational tool for you and your business.
  7. Do not slack off. When you stop microblogging, you are forgotten quickly. Believe me, when MySpace was very popular I had over 27 thousand friends and had no problem making and keeping friends because I was active and engaging. These days I lose between 50 and 100 friends per day because I no longer maintain my profile or my connections on MySpace. The more quality updates you provide, the more exposure you have to people of common interests. So if you're providing captivating updates often, do not slack off; because people will come to expect a certain level of professionalism from you, a certain regularity. Being regular with your updates (but not overbearing) is paramount in making and maintaining quality connections

Cameron Grothhttp://www.cjg.me/ - Free 7 Day Video Bootcamp for Home Businesses And Many Other Quality Training Resources. Fill out the form for instant members only access.

Article Source: http://EzineArticles.com/?expert=Cameron_Groth

Tuesday, April 21, 2009

Advancement in Leadership

By Andrea Klee

When we imagine the Stone Age, we immediately think of the principle that the stronger person wins against the weaker person. Have we made any advance since then? Is it possible to have a system in corporations that allows people to be who they are, and not to use their elbows for whatever they would like to attain?

The impression today is that in many places, we are still living according to the Stone Age principle. Especially in the corporate world, people lie and take advantage of others, often in very tricky ways. Should someone who is just more corrupt than another person get a promotion, or should we set other values?

If we really want to say good-bye to the principle of the stronger person, it appears necessary to create or use a vision of very high moral values and standards. Morality is our weapon against the domination of the strongest. Nothing else has ever helped against it. However, high moral values need always to be supported by an attitude of integrity. It is never enough just to recognize what is right or wrong according to our moral values. We also need to behave in a way that will help other people to trust us and to believe that we are doing what we say.

No matter what we will say or try to communicate, the truth is always communicated through our attitude. When we don't behave according to our words, then it becomes obvious that we are not trustworthy. Other will copy us, but they will copy our behavior, not what we tell them about how someone should behave. This is a very crucial point in leadership, since we need to be aware of the fact that we cannot hide our true selves from others.

Other people know more about us than we believe they know, or than we think they can know. Our voices, our appearances, and our attitude in different situations tell much more about us than we want to be true. Another person might even be able to derive from our words and from our attitude whether or not we are a person of integrity. Most of these conclusions are true even though we don't like to accept this fact.

If we really want people to advance from the concept that the stronger person is the more powerful one, then we need to honestly examine if we as leaders behave according to our promises and suggestions. Should we find out that we don't live as we preach, it is time to revise our own lives first before we think about changing the corporate environment. Change always starts with a person changing herself or himself. If we want to advance leadership in the corporate world of today, we will have to cope with our own possible lack of integrity.

Andrea Brigitte KleeAuthor and SpeakerE-Mail: andreaklee@gmx.net

EXPRESS YOUR VOICESupporting you to convey your thoughts, encourage listening and make an impact.http://www.express-your-voice.com

Article Source: http://EzineArticles.com/?expert=Andrea_Klee

Monday, April 20, 2009

Leadership Coaches - Resistance to Changing Culture

By Jodi Wiff and Mike Krutza

Why is changing a work culture so hard? Why is there so much resistance to making change for the better?

When you break down changing a work culture - think of employees reaction falling into one of the five categories:

  1. no need to change
  2. the timing is bad
  3. cost of the change
  4. they may need information on why, what and how
  5. feel distrust of the new direction

People will have different reactions that is a given. Now is the time as a leader to really listen to their reaction and identify what category of resistance they fit into. Do they question the need to change the company culture? You may even hear conversations that start with, we're making money, why to do we have to change how we interact with customers or employees? Or, everyone is so stressed, why rock the boat, wouldn't it be better to wait until next year when the economy concerns level off before we assess our company culture. Changing a work culture will confront resistance - improve your odds of success by anticipating what the barriers will be and remember just because it is easy for you to see the need and benefits, it won't be easy for others to visualize the positive impact of the change. Think about how the messages get shared to answer all of the above barriers. Try moving forward by engaging the teams you work with - what are they worried about? What do they need to move forward? What feels unclear to them?

Culture isn't the hard number or line item on the bottom of an annual report or productivity report. However it is a key ingredient on how to get that number to look better.

Jodi Wiff, partner Lighthouse Leadership, created the mantra of "Elegant Courage"-- honesty with grace and elegance during good or bad times. Her 28 years as a leader distinguished her special and unique problem solving abilities. Her innovativeness and creativity changed the company culture from ugliness - sniping and lack of hope to a warm, engaging, respectful environment. She believes the employee and customers are special and important to a business and that leaders must create the environment which "feels" hopeful and stirs the inner calling of employees to make a difference. She creates that kind of profound difference.

http://www.lighthouse-leadership.com

Article Source: http://EzineArticles.com/?expert=Jodi_Wiff

Friday, April 17, 2009

Should You Hire New Employees in a Slow Economy?

By Shari Roth

Unemployment figures are at an all time high and companies continue on the course of downsizing. So should your company actual be hiring when most organizations are scaling back? If your organization wants to be one of the key players when the economy turns around, then the time to prepare for the turnaround is right now. Three important things to consider are:

• Do you have employees that are not meeting performance expectations?
• Can you capitalize on the abundance of top performers that are currently available?
• Have you considered utilizing interim hires?

Take a good look at the performance of your existing employees? During good times if an employee is not meeting expectations, there's a tendency to look the other way. Can you afford to carry weak employees? It's critical to take a hard look to see if you have under-performers in your organization. If you have employees that are not meeting performance expectations you must take action. Replace weak performers with people that will do what the job calls for.

Next capitalize on the top talent that is currently available. Just like it is a buyers' market in real estate, it is currently a "hiring market" for employers. Company restructuring and downsizing has created an abundance of quality talent available. Short-sighted organizations are looking at survival. Companies that look beyond survival are looking towards the future to see if their current talent pool supports their long term strategy. These companies are hiring top talent now and building a strong, solid organization.

One note of caution; be careful using the same approach that you might use in a real estate transaction, when you are making an offer to a new hire. You may throw out a below market offer on house. And if you are lucky, you may get it. If you do the same thing with a new hire, the new hire may accept the offer; however this strategy could backfire. The new hire may not be happy in the long run. Their dissatisfaction may be reflected in their performance, and ultimately they may leave your company as soon as the market turns around.

Hiring interim employees is the third consideration that often gets overlooked. This is a perfect time to engage top talent for interim employment. Interim employees work for you on a temporary basis, typically for a period of one month and up to one year. Interim employees do not receive benefits, which is huge savings to your organization. With interim employees, you can have top talent work on projects and initiatives that everyone has been too busy to do. The main purpose of the interim hire is to fill a gap and work on a specific project. The organization benefits because they get to address a much needed initiative. The interim hire benefits too. They gain meaningful work that helps them to bridge the employment gap until they can obtain a permanent full time position.

You may be concerned that an interim employee may leave before the project is completed. To minimize the possibility of an interim hire leaving prior to project completion, you can offer a bonus for the successful completion of the project. This approach not only encourages an interim hire to complete the project, it ties their performance to the success of the project as well. Interim employment is a terrific win-win for the company and for the interim hire.

Should you be hiring in a slow economy? First, take a hard look to make certain that 100% of your employees are meeting expectations. Replace under performers with people that will do the job. Look at your talent pool and determine if you have the talent that will be able to achieve your long term strategy. And, can you utilize interim hires on projects that you have been too busy to start. Considering the advantages that this market brings, the question no longer is should I be hiring in a slow economy, the question becomes, how many people should I be hiring right now?

Shari Roth is a managing partner of CAPITAL iDEA. An accomplished performance improvement consultant, Shari's ability to simplify complex problems into effective solutions has driven notable results in the transportation, insurance, financial, hospitality and telecommunications industries. Shari's focus is to create leadership cultures where employees are empowered, engaged, and aligned to achieve the organization's desired results.
With over twenty years of experience in Fortune 500 companies, her clients find Shari's unique blend of financial, marketing and sales expertise invaluable. Shari's in depth knowledge and certifications in Behavioral, Motivator and Hartman Assessments contribute to her clients' success in hiring and retaining top talent. Shari's clients have seen improvements in employee retention, increased profitability, and customer growth.

http://www.capital-idea.net
shari@capital-idea.net
http://www.twitter.com/ShariRoth

Thursday, April 16, 2009

Managing More Efficiently With Results Based Performance Management

By Bill Walsh

Is your company planning on down-sizing staff (or perhaps has already done so)? It's an unfortunate effect of the turbulent economic times. Although many companies decide that the bottom-line will be improved with belt tightening, it doesn't lower or diminish expectations for productivity and profits. So, how can you produce results with less staff? The answer is result based performance management training.

Performance management training is to help managers improve their capabilities and that of their teams. This training focuses on improving clear goal setting and follow up, , performance feedback and evaluation, time management skills and coordinating performance to deliver the best results.

As your company experiences changes from down-sizing or economic stress, it's especially important to retool your supervisors skill sets to address these changes. Bringing training on site allows you an opportunity to remove managers and supervisors from the chaotic daily demands and get them into an environment where they can focus on the most important things: improving performance effectiveness, setting clear goals, and establishing a plan to work towards those goals.

As companies down-size, managers and supervisors are often required to supervise more teams from a distance. It becomes even more important that these managers and supervisors receive remote employee management training in order to have the skills necessary to manage employees when they aren't able to directly supervise employees at the same physical location. Off-site or remote employee management provides many challenges that can be overcome with the proper training.

With proper remote employee management training, you'll learn how to set up an oversight system that allows you to set and track clear goals and improve employee performance without having to be at the employee's work location.

Even when budgets are tight, supervisory training still makes sense. The best way to have fewer employees get the most work done is by increasing the skill sets of our supervisors and managers. They have the greatest influence over the productivity and effectiveness of their employees. Training programs like time management for supervisors, results based performance management and remote employee management training can provide a productivity return on your investment.

With the right training programs, you can greatly improve team and employee productivity and supervisory skills. That means supervisors manage employees more effectively, teams are able to work more efficiently with less, and goals are being met. Can you afford NOT to take advantage of the benefits and returns of on-site management and supervisory training?

Bill Walsh, managing director of Proven Training Solutions, has successfully developed and delivered over 2500 training engagements throughout the U.S., Canada and the U.K. With over 25 years experience as a management and training consultant, his expertise includes all levels of management and supervisory development, project management, team building, as well as, customer service and time management. He has appeared on radio, television and has been quoted in Fortune Magazine and the Wall Street Journal. For additional information and proven solutions to your training problems visit http://www.proven-training-solutions.com

Wednesday, April 15, 2009

Effective Negotiations

By Darin Carroll

In business, effective negotiation skills are of paramount importance. Whether closing the deal, haggling over the price of a supplies agreement, or handling a pay raise conversation with a valued employee, a business owner relies on these skills for a robust bottom line. While you may already be an effective negotiator, you may want to consider some strategies that can help you maximize the chances of achieving the results you desire in business negotiations.

A truly effective negotiator seeks to arrive at mutually beneficial conclusions. Those entering negotiations are each seeking value that wasn't there previously. To ensure successful negotiations, it is imperative to offer that value to the other party. Don't ignore your own self-interest, but enter the discussion having first closely considered what may be needed or sought by the other party. If you initially reflect on upon partner's priorities, it is much more likely that negotiations will work well.

Prior to bargaining on an important deal, be prepared. For example, if you are preparing to offer your product at a certain price level, be prepared to demonstrate commensurate value by offering testimonials about the quality of the your product, and its worth relative to like products in the marketplace, as well as offering information about the price of similar products sold through your competitors. Consider role-play practicing your sales presentation with a colleague, being sure to seek input on how to can improve your skills and approach.

It is wise to learn as much as possible about your negotiation counterpart prior to reaching the bargaining table. This will help you tailor your offer to meet the unique needs of your customer. For many in sales, it is all too easy to allow a sales call to proceed by rote, underscoring to potential customers that the negotiator has not considered their specific needs. Through the sales discussion, it is important to demonstrate that there has been much thought put into marrying product and service features with the needs of the prospect.

As a customer, you will be able to contribute strongly to your company's bottom line using effective negotiations. First, arm yourself with information about the product or service you are considering. Having done your research on competitor's prices and offerings will allow you to ask more pointed questions to gave value for your dollar. Be cognizant of the target price you seek, and the amount to which you would consider drifting from that price in exchange for further value, such as free delivery, or a discount based upon volume purchases.

Pay close attention to what your negotiating counterpart is asking for, and consider what flexibility you can offer to achieve a win-win scenario. As with any purchase, don't feel rushed or pressured. Reserve the right to seek more time to consider any new requests or demands for concessions before you actually come to a final agreement.

In some cases, what you are negotiating may be quite large and have additional layers of complexity. If this is the case, be on the lookout for any hidden agenda, remind yourself of your objective, and postpone further negotiations as soon as you encounter something do not understand. On the other side of the equation, don't unduly pressure your prospects to make an on-the-spot decision if they don't understand. Bygone high-pressure sales tactics are short sighted, sacrificing the long-term profitable relationship on the altar of the immediate sale. At risk is could be your reputation within the business community.

Of course, some negotiations end with neither party being willing to offer further flexibility. Don't burn your bridges! Remain genteel and respectful. Let your counterpart know you appreciate the time invested so far. Use this as a stepping-stone to building a relationship that could yield fruit down the road.

Darin Carroll, AAMS
Family Wealth Advisory Service, LLC

http://www.fwas.net


Tuesday, April 14, 2009

Project Financial Management - 10 Key Steps to Streamline Your Business

By Colin McNally

Over the past decade or so we have been constantly bombarded with news about private and public projects that have either delivered scope at well over the expected budget or had to reduce scope to even come near to the original budget. Current thinking within project management methodologies only discuss the financial aspects of a project at a high level, leaving the "student" without any real way of working to greater understand the impact of their decisions on the financial results of the programme. In turn, the business case development is usually given minimal time and is a rushed job in the end. Investing in the correct people and time up front to review feasibility and secondly the business case is a must to ensure the total on target delivery of a project.

In the financial climate we are in, where budgets and costs are being cut, the time is now to ensure that whatever funding a company has available, that they invest it wisely - to do that you need to ensure that the project in the end - budget, costs and benefits are comprehensively reviewed.

With this in mind - using the Pathfinder Project Management Methodology as a basis, below are the 10 key steps to successful project financial management

(1) On new projects - invest time creating accurate feasibility studies and business cases, if this is a rushed job - in the end the results will deliver overspends.

(2) Review your project portfolio - are you carrying out the correct projects, are they nice to haves, are they being done for internal political gain - ensure each business case is robust and adds value to the future of the firm - spend time using previous experienced individuals to review and re-review the business case.

(3) Concentrate reviews just as hard on the benefits as the cost. In 80% of projects, once they are in, nobody wants to go back and review if they delivered as promised. So ensure from the start of the project you continuously check that as well as costs being on budget, that changes to your project have not altered your benefits.

(4) Cost cutting is not always the answer - allocate resource to "added value" projects - in today's world cutting heads is a an easy short term fix, do not throw out the baby with the bath water and leave the firm with projects in-flight with no experience to deliver them. Instead review your project spend and as in (2) concentrate on adding value.

(5) Workforce development - up-skill their financial management knowledge, develop staff in leadership, health and safety, motivation etc - so when you put a non-finance manager in charge of a large project, is it not about time they were given the financial know-how. Don't leave financial management to chance - develop your workforce.

(6) Break down the project into financially manageable sections. Too many projects work on the basis of a "pot of cash" - spend it as per the budget and if luck is with them, great! Instead take the "pot" and break it down into manageable sections - mapped to your project structure, that way you can see where budgets are by "workstream" and what ones are over/underspending.

(7) "one point of contact accounting" - too many managers will lead to budget overspend - following on from (6) above - The overall programme manager is responsible for the budget in total, at the same time each head of the projects parts should then be responsible for managing their part of the budget. This leads to one finance manager dealing with one project manager, ensuring a consistent relationship.

(8) Deliver focused and meaningful financial reporting to enable accurate decision-making. More is less - agree on what reporting is required from the project at the start and continuously improve until it is what the project needs to manage the programme of work. Because an accountant can deliver 20 pages of analysis a month to each project manager it does not mean that it's correct - save the trees - minimise the reporting and improve the decision making.

(9) Communication - have a strong relationship between your project and finance manager. Finance cannot be back office, they need to be part of the project team and be seen to be so, and therefore open and honest communication channels lead to no surprises.

(10) Finance should be made aware of all potential risks / issues and a probable cost - if a problem has or may arise warn finance early, finance will be limited to what they can do to assist "after the event".

Colin McNally is F.C.M.A with over 13 years experience in Blue Chip companies. He has now founded CJM Project Financial Management Ltd, and copyrighted the Pathfinder Project Management Methodology. Pathfinder is a methodology which advances the current thinking on project financial management. You can read more at http://www.project-financial-management.co.uk

Monday, April 13, 2009

7 Confidence Building Business Issues Women Leaders Must Learn to Succeed

By Consuelo Meux

Women leaders need the confidence to keep learning about organizations and being effective in their leadership abilities. Identifying and getting information on some of the issues is not always easy to find. Yet, without this insider information, women leaders can find their confidence remains low when it comes to being able to be a real power broker who gets things done. This article presents 7 business related issues women leaders must learn about in order to build real confidence as a leader.

Organization Development: Leaders must have the confidence to know how an organization is put together in order to be able to lead all parts of the organization. To simplify this concept, think of an organization like an automobile. You might know that you put gas in the tank when it's empty, but if you don't know that you also have to keep the oil clean and fill other fluids your automobile is not going to run correctly. The organization doesn't run by one unit. Knowing how the organization functions as a whole is true organization development. Many leaders are not clear about this concept and find their companies and organization suffering as a result.

Organization Growth: Similar to knowing how an organization is developed, a leader needs to have the confidence to properly grow her organization. Organization growth patterns differ according to the different types of organizations. It's important to design methods to forecast future needs of your organization or company in order to make right decisions for growth. Leaders without knowledge of how growth affects all aspects of the organization will find that some decisions result in dysfunction instead of increases.

Systems Concepts: Another concept that few leaders have strong confidence in is really understanding systems concepts. This lack of understanding is easy to see when a leader seems to get hit by what seems like sudden changes in the economy or society that negatively affects their company. While it sounds complex, the basic explanation of systems in organizations is that every organization or group that exists is effected by what goes on around it. Another concept of systems is that whatever you do to one part of the origination will affect the rest of the organization.

Power Issues: Women leaders must have confidence to know how to use power to get things done. Power can be gained through position or by having resources others desire. One resource is your knowledge base and knowledge really is power in organizations. Having power means being able to reach goals, quicker and easier than those without the power. Gain power by being willing to use your leadership to take on high profile positions. Get your name out and take calculated risks that let you gain visibility.

Politics in Business: Acting politically takes a lot of confidence. It means knowing when to speak and what to say when you speak. You have to understand change of command and when to approach one person over another in a business. Being politically savvy is important to advance your career as a leader. It's important to understand business politics and be able to use your skills to influence others in a positive and effective manner.

Build Networks: Women leaders need strong networks of influence makers who can get things done. This is a part of the power and politics of leadership. Knowing people who have power is a key confidence builder for women leaders to use in order to move ahead. Go to the right gatherings where you can be in the company of people who have contacts and information you need to get your goals met. Be willing to stand out from the crowd and make your mark as a risk taker worth knowing.

Look the part: Your physical appearance is a visual way to show your confidence as a leader. You have to look like a leader to be considered a leader. That means dressing for the part at all times; and even a trip to the grocery store means dressing to impress. That doesn't mean having to wear high heels all of the time but it does mean being well groomed with a style that says "professional." Take time to create a professional wardrobe that you can count on to take you to any occasion at any time of day.

Each of the issues presented above can be quite complex in nature. Some can take years to master when you try to do this alone. But taking time to learn important organization issues will build your confidence to be a leader who gets things done in an effective manner. You will feel less intimidated by others, you will move easier in the high powered world of leadership and your self confidence will greatly increase in your role as a woman leader.

Consuelo Meux, Ph.D., is a Strategic Mentor to Women in Leadership. Her programs assist women to build confidence as a leader and increased effective in their businesses. Learn to use your abilities to develop new streams of income. Get a free 7 lesson ecourse for women in leadership at her website and find a mentoring experience that will encourage your life. http://www.consuelomeux.com

Saturday, April 11, 2009

Critical Skills For Sales Leaders - The 6 Key Elements of Wrapping Up the Sales

By Ian Segail

If you asked the majority of salespeople what "Wrapping Up the Sale" means, they will in most cases say it means to "close the sale". "Wrapping up the Sale" starts at the beginning of the sales cycle - most sales are lost at "Hello!"

Reaching an agreement or "clinching the deal", tying up all the loose ends, and getting to a yes decision is a critical selling capability in the sales process. As a salesperson, even getting a "No" decision is preferable to holding onto a "China egg" (an egg that will never hatch!). However, there is more to "Wrapping Up the Sale" than meets the eye.

The 6 Key Elements of Wrapping up the Sale

Assuming you have laid a firm foundation to the sale by qualifying your prospect, effectively discovering and helping the customer to self-discover their needs, and clearly demonstrating how your product/service meets the needs of all parties concerned with the decision, then there are 6 key elements involved in "Wrapping Up the Sale". These include:

1. Resolving concerns

2. Negotiating

3. Reaching an agreement

4. Implementation Plan

5. Follow up

6. Repeat business & referral strategy

Resolving Concerns

Prospects and customers present concerns and objections when they don't understand or agree with the claims you are making about your products and services. Many salespeople disengage from selling at this point and concede the victory to the prospect. Top salespeople, on the other hand, consider concerns and objections raised by the customer merely as a roadblock and an opportunity to question the prospect further and gather more data about their issue, with a view to further educating them on how they can help to solve their problem or dilemma.

Some concerns and objections may simply be intended to disarm you. However, if you panic in response to a concern that is a sincere obstacle, you may lose the prospect's confidence. The key is to:

First, concentrate on identifying the foundation of the prospect's or customer's concern. Is it a fear of buying something new? A pricing issue? A lack of technical knowledge? A lack of credibility or capability?

Second, because many customer concerns and objections are either covert or unspoken, or based on unclear requirements, further probing can reveal what you need to learn to satisfy their needs and wants. Objections are simply data requests - neither good, nor bad!

Third, when you allow the prospect to express the negative and unfavourable aspects of your offer, it brings the issues out into the open and allows you the opportunity understand the customer's uncertainty and provide the pertinent information to resolve it.

To help resolve issues, a great strategy is to include the customer in the solution process, as they're likely to prefer a solution in which they were involved. When you stop trying to overcome objections and instead work and partner with your prospect as a consultant or coach, you will be far more effective (and less fearful).

Negotiating

How you handle your selling negotiations will determine two key things:

  • Whether you bring home the sale and
  • At what margin you bring home the sale

Many salespeople mistakenly believe that negotiating is something you do at or near the end of the sale. Being an effective sales negotiator begins with your first contact with your customer or prospect. Your prospect is evaluating you; your company and the value of your product/service, right from the moment you make first make contact. Your goal is to be able to clearly demonstrate the value your solution will provide and negotiate a profitable agreement with the customer. There are a number of factors from your customer's perspective that have an influence on the outcome of your sales negotiation:

  • What is the extent of your customer's problem or pain?
  • How much do they want your solution?
  • How do they perceive the value of your expertise?
  • How specialised or unique is your solution?
  • How urgent is their need?
  • How much would they be willing to pay to solve their problem?
  • How much do they perceive your solution as merely a commodity with you as just another vendor?
  • How large is their risk quotient?
  • How much do they like you and/or your company?
  • What is their timing need?
  • How much do they need to WIN?
  • Can they approve the sale?

When you consider the above points, you see that your role as a negotiator proceeds all the way through the sales process. Your role is to constantly probe and seek out information that may be invaluable later should issues like price, terms, quality, delivery, etc. have to be negotiated. Don't wait until you're in the last round to begin negotiating! Remember that as a sales negotiator it is very important for both you and the customer to come away feeling positive about the experience. At the end of the day, the chances are very good that you will want, or need, to do business together in the future.

Reaching an Agreement

Assuming you have laid the groundwork correctly by uncovering and answering the prospect's needs and concerns during the diagnosis and capability presentation phase of the sales process, then "closing the sale" becomes a mere formality as opposed to an overworked and stressful affair for both buyer and seller. If you are struggling to close sales, you will need to examine your current methods for discovering your customer's needs and requirements and the way you demonstrate the value of your product or service.

Before you attempt to "close" the sale ask yourself "Do I know..."

  • The problems the customer wishes to solve
  • The objectives/goals the customer wishes to achieve
  • Company issues that will be impacted by the decision
  • Personal issues that will be impacted by the decision
  • Financial issues - What funding is available to solve these issues? What or who else is being considered?
  • Time frames
  • Buying influences - Who makes and impacts on the decision?
  • Decision Criteria - How are decisions made? What are the Next Steps? and
  • Have I clearly demonstrated my and my company's capability to meet the needs and specifications of the customer?

Implementation Plan - Sell back from the date they need it

When salespeople and their managers get together and discuss where the "sale is at" within the sales cycle, they tend to focus on what the next steps are to bring the sale to a conclusion. Their focus is on the "close date". However, to the customer, what is most important is the implementation or use date. It is vitally important that you work with end users and buyers in a collaborative effort to identify and work towards their implementation date. In other words, find out when your customer needs the product or service you are selling and then work back from that date to make a case for why closing now is important.

"Salespeople sell forward - but buyers buy backward" Skip Miller

The professional salesperson:

  • Works with the customer's buying schedule, which begins from the implementation date.
  • Identifies the activities and actions the customer must accomplish prior to the implementation date.
  • Gains agreement from the customer on the actions they must accomplish prior to the implementation date.
  • Sets their selling plans, scheduling them to align with the steps in the customer's timeline, working backwards from the date of implementation.
  • Uses the implementation date as a means of accessing senior managers and users (to clearly understand their implementation and other core issues).
  • Selling to the customer's implementation date allows you to accurately set your sales milestones and forecasts. It is also a great tool for bringing your proposals to life because it will include implementation considerations when many organisations only consider implementation after the purchase

Follow Up

Much of your success in selling can be attributed to what you do after you've made the sales call or the sale. Constant and persistent follow up is the key.

We work and live at a very hectic pace and the prospect or customer who hasn't called you back might well be interested in your product/service, but they just haven't gotten back to you yet. There is a great quote from Patricia Fripp, which says, "It is not your customer's responsibility to remember you, but your responsibility to ensure they never forget you."

The frequency and amount of follow up required is very dependent on the complexity of what you sell and the lifetime value of a customer in your industry. Research demonstrates that most potential customers or prospects won't buy the first time they meet with you. On average, they have to encounter a marketing or sales message on at least 5-7 occasions before making a purchasing decision. This makes follow-up an essential ingredient in the selling process.

Mark Victor Hansen said, "Don't think it, ink it". When you rely on your memory you are very likely to forget. Imagine for a minute that your brain was like a PC. What happens if you open too many windows on your PC? Eventually the system gets clogged and clunky and in some cases will just freeze! Something as critical to your sales success as follow up, should not be left to your memory; it simply doesn't work. The best and most effective sales and business people have developed their own follow up system to ensure that nothing falls through the cracks.

Follow-up isn't just about selling; it's about developing relationships.

Efficient follow-up demonstrates that both you and your company have your acts together and really care about ensuring customer satisfaction. However, a large percentage of salespeople don't conduct sales follow-up. Afraid of what they might hear, they avoid the follow-up, often blaming their busy schedules for not getting to it.

During follow-up, it's important to ask open-ended questions and then listen. Asking open-ended questions gives you an opportunity to gather more information from the prospect to pinpoint his or her needs accurately. Ask questions that begin with; who, what, when or how many. Ask something that will engage the prospect and get them talking. Ask "How did you feel about what was included?" as opposed to "Did you get my proposal?" Or "Did it all make sense?"

Your follow-up should convey:

  • I am still interested in you and your current concerns and opportunities.
  • I have something specific and valuable to contribute that would benefit you and or your company.
  • I look forward to hearing from you soon.

A consistent, well-executed follow-up system that keeps past clients and customers close is the most effective method of ensuring a steady flow of referrals and repeat business. Whatever follow-up system you adopt, make sure it's easy to use or implement. All too often, when the system becomes too complicated or unwieldy it gets sidelined and placed in the "too hard" basket. A good follow-up system is essential for building a healthy pipeline. Take the onus off yourself as far as trying to remember things and build a system to do it. If your company already has an effective CRM system, use it. If not, develop your own. It is up to you as a responsible salesperson to drive the sales process; therefore, you must drive your own follow-up system.

Repeat Business and Referral Strategy

Today the best salespeople, selling to both Business-to-Business and individuals, are constantly looking to increase their focus and effort on attracting repeat and referral business. Most astute business people understand that customer loyalty is the most vital aspect of their business because their organisations will live or die from repeat business. No company can exist without customer loyalty and retention.

Customer retention is well known to be much cheaper than customer acquisition. As a result, top salespeople place a big focus on their customer retention and customer relationship management strategies. They constantly look at improving the share of business coming from their existing customer base.

Information technology helps both companies and their salespeople to achieve customer loyalty by providing tools for analysing customer data. This assists with making informed decisions, as well as managing the customer relationships from the sales process all the way through to fulfilment and ongoing follow-up support.

A customer's repeat business is earned by the salesperson that continually provides their customers with what they want. Without effective strategies or processes for consistently offering customers more of what they want, repeat business is earned less frequently. When you communicate news and offers frequently to both past and present customers via telephone, mail or email, it generally increases the frequency of repurchase and is a powerful step salespeople must take to grow their business.

Effective referral strategies

Referral marketing is a vital part of your sales strategy that you cannot afford to do without. Every salesperson knows that one of the most effective ways to grow their business is through referrals, yet most salespeople do not have a means of generating an ongoing source of referrals.

Referrals work because they come from a trusted source that has already benefited from your product/service and yet has no vested interest in your business. The recommendation is independent and unsolicited. In sales terms this means a rapid conversion rate. The sales process is rapidly accelerated because the service or product has already been tried and tested by a reputable third party.

As a salesperson asking for, and getting, referrals is a powerful and low-cost way of building or developing your career. It is a simple approach, which feeds on its own success, but has to be built on secure foundations. Most salespeople don't get enough referrals because of one obstacle - they don't ask for them! An effective referral generation program will take care of this problem by creating a system that generates a steady stream of referrals from your network.

Referral marketing is simple: if you provide excellent products or services that people need, they tell others of their experience. Those others will trust you and want to do business with you because of the recommendation of the original, satisfied customer.

As one of Australia's leading authorities and coaches in sales management, Ian Segail has been involved in the coaching, training and development of sales managers and salespeople for over two decades.

Drawing on 25 years of experience in sales, sales management and leading an HR and training team, Ian brings a strong dose of fiscal reality and practicality to his works as a Sales Performance Coach.

Engaging directly with business owners and both novice and experienced sales managers alike, across a wide variety of industries and selling disciplines, the focus of Ian's work is to transform sales results for companies by improving sales management practices.

Ian is the author of "Bulletproof Your Sales Team The 5 Keys To Turbo Boosting Your Sales Team's Results" and a number of business articles, business reports and white papers including "The fish stinks from the head!" and "Why Sales Training Doesn't Work."

Ian has an insatiable hunger for studying selling and people management and has passionately pursued answers to the question "How come some people can sell and most can't?"

Download Ian's latest white paper on how to recession proof your sales team in the next 90 days from http://www.salestutor.com.au/Content_Common/pg-Salestutor-Tools-and-Resources-Articles-and-Whitepapers.seo

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