Thursday, January 27, 2011

Friday's with Bentley

Monday, January 31, 2011.

As part of a succession plan, I have not worked on a Friday since September and we have put bright, young tigers in place to help lead our business to the next level.  What has it been like so far with every Friday off??

Bentley in the woods
Bentley on the trail
First I take Bentley, my two year old, frisky, funny, beautiful Springer Spaniel, on long, brisk walks alongside the Burlington Beach.  This beautiful, long path goes on for miles.  What is weird is that I didn't even know it was there, only ten minutes from my house, and I have lived in Burlington since 1973. "What" you say??  I've been busy working for forty five years, you know, highways, planes, meeting rooms, boardrooms...always another meeting to go to... always building something, a business, a team, a customer relationship, a financial portfolio.  That's how entrepreneurs are!

In Winter, when it is too cold by the water we, walk in the woods that are part of the magnificent 1000 mile long Bruce Trail.  It is invigorating and fun watching Bentley run enthusiastically in the woods.  He loves the snow.  After an hour and a half or so, we go to Jake's Boat House Restaurant in Burlington owned by my friend Jamie.  This is a great establishment with excellent food and service.  Here I meet up with a bunch of old business friends.  For the past 30 years this Motley Crew has been meeting there (usually after tennis).  What do we talk about??  We discuss our life after business, taxes, travel, family, what is going on in our lives, and eventually, new business opportunities.  Why would we talk about that?  We can't help it, we are wired, rigged, structured to be business opportunists.

This is what keeps us juiced.  It's amazing to hear this successful bunch describe how to succeed.  I wish I had their savvy throughout my 45 year business career, but I guess life has another plan.  We seem to have to learn from experience, take risk, pull the trigger on deals even when they aren't perfect and go with a vision and a plan.  Lose some, win some, but overall it is important to enjoy the roller coaster ride - the excitement of building something.  It is really humorous to hear the mistakes and inspirational to hear their victories.  Entrepreneurs are a little nuts but I believe they all deserve to go to heaven.  (I'm Irish so I get an automatic ticket.)

The staff at Jakes' Boat House always find a way to sneak som
Bentley
Bentley
e premium, left over food out to Bentley waiting patiently in the car.  In the summer and fall, he sits right next to us at our patio table and seems to enjoy the meetings as well.  After lunch, Bentley and I head to my grand
children's school where we pick up Taylor who is 13, take her home to change, and then off to dance.  She is amazing and gorgeous.   Then we take Shalayne (what a beautiful name), who is almost 12 and also gorgeous and sweet, to guitar lessons.  Then we pick up Taylor again and take her home, and so on.  There is also Caelen who is perfect in every way and 8 going on 18.  She is a real girlie girl, and my hockey player, Liam who has to put up with all these women, Keenan the terror, and baby Tristan who is always happy and funny.  I know there are quite a few but guess what.... My son Kevin Robert has another on the way in February....another Grandson.  Who could get so lucky???  Talk about 'juice'.  Today, everyone of my business lunch friends would drop any meeting for a little time with their grand kids.... A double dose of 'juice'.  OK, now back to business.

Building a business, finding business opportunities, knowing how to capitalize on them, building a life with all the other things that give us meaning that are important to us, makes for a great life.  Entrepreneurism is the great source of all that.  All the rewards are there for innovative entrepreneurs and professional people whether you work for a small business, own one, or work for a multinational corporation.  All of us need the 'juice' that comes from entrepreneurial thinking.

Entrepreneurial thinking is about doing the very best job you can with what you have and not accepting those limited resources as a license to practice the cowboy capitalism of ready, fire, aim.  On the contrary, you know what you are good at and where you can create and communicate a business strategy where every system and person makes it work.  You build a strong, intimate relationship with customers; you listen and know what turns on your market; you create the innovative solutions your customers need to support their wants; you map out all the opportunities available; and most of all, you pull the trigger on the best ones.  It is pulling the trigger that officially makes you an entrepreneur.  Simple to describe.   Winners make this happen most of the time.  Who doesn't need more of this entrepreneurial thinking in their business?

It's there.  It's inherent in every group. You simply need to allow it to flourish through conversations and meetings with a team.  The entrepreneur is the most important player in the re-building of our economy and the 'juice' they get, is deserved.

ACTION

Take a few minutes and go into a mental dark room with yourself.  How about you?  What are you building?  Can you articulate what it is and what your business strategy is to help you get there?  Does your team see it, feel it and know how their role connects?  What new opportunities are you evaluating?  Which is your best opportunity?  When are you going to pull the trigger? 
What's Your Next Step?? 

Are you consuming, showing up, or producing?  We need a culture of producers.  These are exciting, new times.  Every Friday with Bentley I get more 'juice' and more spirit.  I hope you find your way to get more of it as well.


Have a great week!

Monday, January 24, 2011

IT'S A NEW YEAR..... starting all over is an option.



It is interesting to see how sports franchises start over every year.   Of course they have to create the team, on the field.  They have to have strong community involvement and presence; market and sell tickets; make good financial decisions; have a positive impact on the media;  scout, hire, and develop future players.  And they do this one year at a time.  In the end, all that matters is the scoreboard... wins and losses.

Wow, this must take incredible focus, work and alignment of a great number of elements to produce success.  The policies, budgets, and job descriptions must pull everything together on behalf of the strategic plan.  Now if you have a great brand like the Toronto Maple Leafs or an NFL franchise, it helps in guaranteeing financial success.  But few teams are like the Maple Leafs or Saskatchewan Roughriders or Green Bay Packers where business success is almost guaranteed because of the passion in their communities and their TV deals.  For most sports franchises everything, and I mean everything, has to come together every year for the business to succeed.

It sounds like regular businesses could take inspiration from this yearly focus.  In the non sports world, we have the same need to put the right, spirited and competent team together; have community presence; market and sell a compelling; relevant offering; have an impact on the media, and of course win over our competition.  Our wins and losses are measured in market share, ROI to shareholders, budget attainment and many other financial variables.  The number of new customers, increases in size of sales, more and bigger sales to repeatable customers also tells us how we are doing.

It must get tiring yet exciting for the management of a sports team to start over every year, often with new management, new coaches, players, and many other changes. (Who said people can't handle change?)  Regardless, all the elements of what it takes to succeed never change.   Some put it all together, some don't.  What can make a difference is the spirit, sense of urgency, alignment and togetherness of the team whether it is sports or regular business.  Although owners care about the financial and customer wins the most, employees remember and appreciate the relationships and the teamwork. It provides, for them, energy and momentum.  You can cement those two business desires together in your plans and meetings.  Whether or not you have a strategic or operations plan, I suggest you get a team together to do the following:

  1.  Review what is actually going on.  Can your talent take you to the next level?  The same with your management -   can they help you go where you want to go?  Do you have fresh leadership who will rally around the vision, the ideas, strategies, and the planning it takes to start anew?  How is your offering?  Are you adequately matching up with the trends and motives in the marketplace?  Is your involvement in the community adequate enough to be seen as a recognizable brand?   Does your marketing tell a compelling, relevant story in everything you do?  This may sound elementary but, are you aware of the set budgets, have you read the job descriptions to see if changes should be made to reflect the present business strategy and everyone's role in it?  How about the policy manual, what needs re-working?
     
  2.  Decide on the new plan, new goals.  You could be driven by problems and circumstances and make incremental changes that you need to fix again in a year or two when the tension and attention is off them or you can begin your planning by truly creating the business you want.  You do this by designing the desired state of your business or department with all the elements in place.  Turn each outcome into specific goals and begin your action planning on how to get there.

Man-FocusBegin the year this way.  You will be changing your thinking, you will be motivated to learn, develop, work hard (what's new?), work strategically, and to put in place the alignment and organization required to take you from where you are (your assessment) to where you want to go.  Do this and you will have a 'sports team like' sense of urgency.

It's a new year.  My e-mails to you in January are about analyzing, re-thinking, and planning to begin the year to make 2011 and the next couple of years great.  

ACTIONS
Preferably with a team, take an hour and:
  1. Make an assessment of talent, management, leadership, community involvement, numbers you measure, offering and story to the market, etc.
     
  2.  Take out a piece of paper and write what is the desired state of your area of responsibility (business, department, role) Be sure to state the clear outcomes you want.
     
  3.  Begin to plan and organize what it will take to go from your assessment to where you want to go this year.

'Just do it' could be your theme this week.  Sports teams have no choice but to do this every year.  You have the choice, so you will need some 'fire in the belly' leadership to get going.  You can handle it, believe me.

Have a great week!

Thursday, January 13, 2011

It's tough enjoying the scenic boat trip when you have to bail the boat to survive!

Monday, January 17, 2011.

Designing a Business that works
I often write you about designing your business to succeed and give you many real life examples of people and organizations who do. Your design should begin with your aspirations for the business.  Instead, many people plan by adding to last year's numbers and goals, and by looking at all the problems of the business and trying to fix them.  This becomes their 'business design'.  This problem-solving mentality leads to temporary solutions but as soon as the pressure is off, we notice that we are back to fixing problems again.  This leads to being about grabbing the flavor of the month solutions that eventually go out of favor and have nothing to do with aspirations.   

Problem solvers are driven by a fear of imaginary, negative circumstances.  Anything that is driven by fear becomes worry, and worry is not constructive and is usually made up in our psychological, emotional heads.  Problem solvers become control freaks.  Measurements, bureaucracies and protocols become more important than actual outcomes desired. 

Everything then becomes about reacting to circumstances.  It's as if people believe they cannot have what they want so no sense trying to create it.  Look how ridiculous we think government is when they act this way.  It's as if no one really thinks.  As my son, Kevin Robert reminds me, at least one third of us will always operate from a fear of imaginary negative circumstances and are more concerned with having everything in order rather than creating what they want.  It's not just governments that think this way.

Man at computerEventually, if you never get around to designing the business, career or life around what you want, you could one day feel very shallow and wind up with a mindless existence or business that doesn't work.  We are meaning makers and we respond to what gives us meaning.  You really see that when people are close to retirement.  They start choosing to do things that are important to them with the time they have left.   More time with the grand kids, families, friends, travel, hobbies and their community. 

As my friend Robert Fritz, author, consultant, coach of structural thinking and how to create the business or life you want, says, "Structure gives rise to behavior."  You and your people are acting a certain way in response to the structure you have. You can restructure/design.  This begins with determining what it is you really want.  You have a tremendous opportunity to create a successful business and life.

I know the world is in a bit of chaos.  No one knows where all of it is headed.  Your margins, offering, brand could be challenged.  Customers are tighter with their money and more picky and you might feel you are more fixated on bailing the boat than enjoying the scenery.  You could be thinking, "I wish I could design my business, career or life around what I want versus reacting to problems all the time, but now is not the time."  And you do need to focus on what is important now.

Have you ever seen a movie or TV plot, or seen in real life, divorced parents who are focused on reacting to each other causing a continuation of their miserable lives rather than determining what is important, such as the health and well being of their children?  In movies that are driven by happy endings, the parents figure it all out and finally wind up, even in all their frustration and distress, focused on what they truly want, typically they then put in place all the things, schedules, etc. that could cause everyone to win.

Even in tougher times, I suggest that, while you are reacting to the problems, think from what you want and then put in place all the steps, systems and policies to make it happen.  You have problems, but think from the big picture at the same time.  For example, you can demand more payments from your customers to fix your receivables problem but, while doing so, figure out what customers really want so your offering creates more value and they are more willing to pay.  Be more about what makes your customers lives change as you are about collecting
your payments.  You do want to be a hit in the market don't you?

So my big suggestion for 2011 is:

Let's embrace chaos, a world of not knowing, and focus on what is important to the business, our career and lives and begin to create it. The universe may surprise us.

Who really knows what is possible for our business, career, or life so why not just go for it 2011?

Have a great week!

Thursday, January 6, 2011

Four ways to improve your business in 2011

Monday, January 10, 2011.

Boardroom
  1. Don't neglect talented people who represent the guts and soul of the improved productivity, business and creativity that is needed in a tighter, more competitive economy
     
  2. Put in adequate time into improving the systems and secondly, most processes by which all activities and work flow through the company. Systems need to be aligned with an improved business strategy, offering and story.
  3. Build enough collaborative partners with vendors and customers when our economic landscape could depend on it.
  4. Focus on achieving first class performance of your team based on the unrealized potential of people, not their historical trends.

How to face these issues head on in 2011
1) Competing in a value-driven world does not mean your employees are more expendable.  On the contrary, the more commoditized things become the more important your people are to help you become more differentiated within an improved offering.  One of our clients, a big box retailer, is creating a sincere answer to "Why you should do business with them", by taking an employee first attitude.  They see that if their managers treat their employees better, pay more attention to them and their needs, their employees will pay more attention to their customers.  Stocking shelves used to win the day, now paying more attention to customers is taking some market share.  In this economy every customer is precious.  They are working on ways to measure how managers pay more attention to their people.

Another client, a world-class travel company, is using our services to assist their teams to thinking and behaving from an "others" orientation. It's amazing what happens to the business and to them when this occurs.

Other ideas:
  • Don't start meetings with financial reports all of the time.  Martin Luther King didn't start with, "I have a strategic plan or budget". People need to know how they contribute to customers and the team, so talk about that first.
  • Block time to visit your people in their space.
  • Develop the habit of asking questions regarding personal interests at the beginning of conversations.
  • For goodness sake, find out what employees want to contribute to and care about. Don't assume  - listen and you'll find out.
  • Get employees talking about the market, opportunities and where the business is going.
  • Show them their future and how they can grow within it.
These are simple things, yet the balance sheet is normally more important. The balance sheet is only a snapshot of the business at any given time. It offers no context whatsoever concerning the status of the guts, heart, soul and the engine, which are the people who created the earnings.

2) Everything inside a company that produces results and profitable action is tied into structure and processes.  It's virtually impossible to improve the business unless you examine the systems, processes, and structure that give rise to the behaviors and the results you are getting.  For example when a process is designed around internal, political or bureaucratic needs, you usually find that customers suffer.  So determine what the business is about and how you can change your customer's lives.  and then, examine if you have the systems and measures in place to support it.  If you don't, intentions or goals won't help your business grow.

Efficiency is another matter.  Projects, tasks and initiatives should flow effortlessly from input to output with no obstructions, hindrances or problems.  We wish!  In the real world, effort is usually rerouted and progress is impeded.  Start messing up some white boards with flow-charts - see the reality of the flow and compare it to what you want. Examining a process flow chart can unlock the points that cause the chaos and disorder.

3) Treat your suppliers and customers as real people.  Partner with them.  Ask them what they are working on.  Tell them you'll both benefit by working together during a slower economy. I'm reminded of our work with Hatch, a large engineering firm based in Mississauga, who had a mandate to partner with clients as a business strategy.  They grew from 500 to 8,000 employees.

Tell your suppliers that most "so called" advances in business these days, including enhanced profitability, come at the expense of partnerships and eventually everyone pays.  Tell them you don't want that.  Ask them how they want to be treated - and listen.  Build loyalty.  Simply ask, "What do you want?" Listen and then say exactly what you want, and then ask, "What can we do together?"  Partners support each other during good and bad times - be one and ask them to be one with you.  Vendor partners understand the need for lower pricing and can offer recommendations on ways to realize reduced costs.  Allowing them a chance to be part of the dialogue pays dividends.  As well, acknowledging your customers as partners can cast an entirely different light on business conduct. By following a similar asking-and-listening process as you would with a vendor, you can keep in the game with customers whether they are struggling right now or not.

4) Foster a people-centered culture by turning your formal performance reviews into opportunities to build your people? Kathie Mather, our head coach of our Leadership Training for Managers project, in Ontario, reports that most reviews her clients use prior to her coaching are not about truly building people.  They rarely provide insight into meaningful employee development that is aligned with business initiatives.  Now, the thousands of managers she has coached to be coaches spend 80% of their time on the future, what employees want, and what the business needs and their current plan is to go from their present reality to higher goals. Her appeal is, "Free your people by coaching them." Also, you can realize the potential of your business and sustain performance when you invest in your people.  Provide some coaching and training. It should provide a 3:1 return on your investment if it's a good training process - a no-brainer!  It's a cheap way to build a company's capacity to achieve larger goals and it helps in engaging and retaining people.
 
In 2011 - Summary

Spend more time with your people and review your processes to make sure you are improving productivity and efficiency while achieving the business strategy you want.  Make your vendors and customers partners, and conduct performance appraisal interviews that build your people and the business. Coach and train people.

Actions To Take in January, 2011- Choose ONE of the following
  • Block off an hour to get into your employees' space, and get to know them better.
  • Review your business strategy and then begin to look at the present systems, process flow, and while you are at it look for impediments. Re-do the flow with a small team to make sure you are structured to do what you want.
  • Call a supplier or visit a customer and explain how you want to partner with them and why you can both win especially during these interesting times.
  • Conduct a performance appraisal by spending 80% of your time getting your people to tell you what they want, what is their current reality in relationship to what they want and have them tell you the top 5 things they need to do to get there. You will be surprised (they want a lot of what you want).

Wish you a great week and a terrific 2011!

Monday, January 3, 2011

Time To Push the Reset Button

It is that time of the year again when people set new goals.  For example, loose ten pounds by working out four times a week and not eating after 8:00 p.m.  We all know that sometimes traditional goal setting works and sometimes no matter how we try, it seems real life, real day to day needs and wants, and mindless habits get in our way.  Nothing much changes, including the results.

This is especially true in business.  We want the business to grow, yet the way the business operates doesn't really allow it.  Operations seem to overpower good ideas, even those big ones led by passionate employees or teams.  "The way you are is not always the way you can be".

You can wait out the tougher, economic times, keep showing up and see what happens. This might work if the marketplace warms up, or you can decide what you need to focus on this year, press the reset button and begin again.  That's what all those who have 'fire in the belly to compete to win' do regardless of the tougher, economic climate and the challenges of boosting performance, making  change happen, and trying to give their company strategic direction.

Looking back at my Monday e-mails to you here are a few count-ons.  Yes, the marketplace has changed for a lot of you and it will again whether you decide to adjust to the wants, motives and needs of the markets you serve, or not.  So, in 2011 you either get serious and committed to listening to your markets, seeing trends, seeing what's possible as an offering, engaging customers and actually asking what's going on, or you will have very little, strategic direction and a weak business strategy.  Hope is NOT a strategy, and the 'operations bully' wins again.  Expect tougher margins in 2011.  Steve Jobs said recently, "The way to killer profits is to have killer products/services."

There are simple actions you can take in 2011 to ensure your business is strategically designed to succeed and grow.  In our MMM's in 2011 we will review how to rethink your business.  I'll provide the questions, you provide your own answers.  If you are a C level executive, a manager or owner, then follow the Monday Morning Mentor religiously.  (3 - 4 minutes a week)  Another action is to join our monthly Strategy Huddle of business people at our office.  It is complimentary, but you do need to ask about attending.

If you realize that change is imminent and you are transitioning the business, then you can count on the fact that most changes, whether restructuring, cost cutting, new product/offering rollouts, IT transformation,  require people to fundamentally change the way they work.  Despite the inherent challenges, most people will change if they believe that doing so will make a real and positive difference in their lives and those of their customers.  In 2011, I will share with you our list of success factors in designing and implementing change management initiatives.

All those people who want to make a difference in the execution, attitudes and everyday actions of everyone and are tasked with delivering the desired state of the business and making it an enduring reality, should read our Monday Morning Mentors this year.  Nearly 60% of supervising executives agree that a successful transformation program is due more to the way you handle the people initiatives than other elements.

For those who need to help others, or yourself, deliver on the business objectives of change, possibly taking on new behaviors, responsibilities and competencies, or just being flat out more of a producer so the business or team can boost performance, we will spell out ways to lead, sell, present, engage people, coach, train, control our attitudes, and other capabilities to be more productive business people.

 Our organization will share our research, experience and principles from almost 100 years in business.  I will in as practical and common sense way as I can, give you my 45 years savvy in helping clients grow and in running my own business.  Why not make 2011 the best year for growth, learning and profitable action.  Life gives us a New Year, new beginning.... Let's take advantage of it.



ACTIONS:  New Year Thinking...What area needs your focus this year?

·  Strategic Direction:  Is it necessary to give your business more strategic momentum or direction?

·  Make Change Work:  Do you need to help your organization transition to a new desired state, possibly implement new offerings, succession or management plans?  Do you need to execute it  through the engagement and co-operation of your people?

·  Boost Performance:  Do you need to boost the present performance by building your team or the individual competencies, skills and attitudes of your people?

Which of these three areas is of importance to you?

Why?  What could it do for the business and for you?

What could happen if you don't act on it?

Have a great 2011 and a strong first week.