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What Gets You Up in the Morning?

In keeping with the theme of Leadership, the following is an article published in Strategy-Business.com on March 28, 2016, written by Sally Helgeson, author, speaker and leadership development consultant, discussing positive leadership, asking the question, “What makes me leap out of bed in the morning?” rather than “What keeps you up at night?”

What keeps you up at night? It’s a question we’ve heard posed in nearly every panel and senior leader interview conducted in recent years, and as a result, it has become tiresome and rote. But I believe the effect of this query is more pernicious than simply boring — stay awake long enough to think it through, and you’ll recognize its essentially negative nature. The question assumes that leaders are in the habit — indeed, that they have a responsibility — to let worry pervade their every hour, even those precious few required to refresh, balance, and sustain human effort.

That’s why it was bracing to hear the chief economist of a global bank describe how his CEO responded to this question at a recent meeting of senior employees. “I’m sick of that question,” the CEO had said. “Besides, it misses the point. More important is: What makes me leap out of bed in the morning?

The CEO then told his listeners that “the terror of missing an opportunity” impelled him to get up every day. Within 24 hours, the bank’s shiny new headquarters became known throughout the company as “the tower of terror.” That’s hardly the most positive vision. But if we focus on the invocation of opportunity rather than terror, we’ll recognize that the CEO made an important point: It is vastly more productive to spring out of bed eager to spot new opportunities than it is to greet the day in a defensive crouch brought on by post-midnight agony fests. And it is a far more powerful way to lead an organization.

In other words: In an economy in which the harnessing of human knowledge offers the chief — and perhaps only — competitive advantage, the need to engage human talent has become paramount. And just as leaders on the lookout for opportunity can build and stimulate engagement, they also can undermine engagement by exuding negative energy.

Beverly Kaye, founder of Career Systems International, an engagement and development consultancy, is coauthor of the engagement classic Love ‘Em or Lose ‘Em: Getting Good People to Stay, now in its fifth edition (Berrett-Koehler, 2014). She has been examining the sources and advocating for the importance of employee engagement longer than anyone I know. “One of the first questions we asked people when doing our original research on engagement in the 1990s was what about their work motivated them to get out of bed in the morning,” she told me. “If you understand that, you can understand what engages people.”

People want a few basic things in their work, Kaye pointed out: “They want to feel valued, they want to be able to use their skill sets, and they want to be challenged by new ways to exercise and build those skills.” If jobs don’t give people the opportunity to fulfill these basic needs, many employees will leave — and the best are often the first to go. “And those who stay will often check out mentally and simply disengage, which from an organizational point is probably worse,” she said.

Over the years, Kaye and her researchers have also asked thousands of people why they left their organizations. “What we hear usually comes down to some variation on their not being able to see any opportunities in their job,” she said, which is why a focus on opportunities is critical in a leader. “People’s experience at work is determined by their manager, and the experience of managers is determined by those who manage them, going all the way up to senior leaders….Leaders who are optimistic about what their people can accomplish, and see challenge through the lens of opportunity, inspire confidence throughout the organization.” Optimism cascades down.

By contrast, leaders who worry excessively — the up-all-night types — can set a cautious or even frightened tone that spreads discouragement. In Kaye’s experience, “worried leaders tend to fail their people in one of two ways. They may be distracted and overlook signals people send about what they are capable of. Or they micromanage, either because they don’t trust their people or as a way of managing their own anxiety.” Both approaches inhibit morale and make it impossible to build a culture of engagement.

Over the years, Kaye and her researchers have also asked thousands of people why they left their organizations. “What we hear usually comes down to some variation on their not being able to see any opportunities in their job,” she said, which is why a focus on opportunities is critical in a leader. “People’s experience at work is determined by their manager, and the experience of managers is determined by those who manage them, going all the way up to senior leaders….Leaders who are optimistic about what their people can accomplish, and see challenge through the lens of opportunity, inspire confidence throughout the organization.” Optimism cascades down.

By contrast, leaders who worry excessively — the up-all-night types — can set a cautious or even frightened tone that spreads discouragement. In Kaye’s experience, “worried leaders tend to fail their people in one of two ways. They may be distracted and overlook signals people send about what they are capable of. Or they micromanage, either because they don’t trust their people or as a way of managing their own anxiety.” Both approaches inhibit morale and make it impossible to build a culture of engagement.

It’s interesting to note that the CEO who pushed back on the original question — “What keeps you up?” — had been chief risk assessment officer at another large financial institution. A former member of his executive team who heard about the pushback observed that the answer showed how much the CEO had grown as a leader. Worrying about what could happen, Kaye observed, is practically a job description for risk managers. “If you don’t have a few sleepless nights, you may not be doing your job,” she said. “But a CEO has a different brief. He or she needs to prepare the company for the future, which is all about seeing the opportunities in the larger picture.”

Jim Kouzes and Barry Posner, my gurus in all things leadership, note in their classic work, The Leadership Challenge: How to Make Extraordinary Things Happen in Organizations (Wiley, 1987), that successful leaders always “challenge the process.” That is, they look for opportunities to go beyond the status quo and innovative ways to improve the organization. Kouzes and Posner are clear that doing so always requires some degree of experiment and risk, as well as a willingness to accept the consequences when a risk does not pan out.

In a highly uncertain environment, that’s a pretty good prescription for what most of us can do. And recognizing it might bring us to a renewed recognition that wakeful worry does not a good leader make.

If you need help with any of this, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.


7 Habits of Masterful Managers Who Their Teams to Coach Success

In keeping with leadership, I’d like to share the following article published in Entrepreneur.com on 9/19/16 written by Sherrie Campbell, a psychologist, author, and speaker:

Managers are the quarterbacks and coaches of their teams. Managers with great reputations for producing the most successful teams are those who have cultivated the habits of success and leadership designed to keep their teams cohesive, motivated and driven. There is nothing more powerful than a leader who has faith in their team. Like children, the last thing any of us want to lose is the faith our parents have in us, and this dynamic plays itself out from team members to their manager. To follow are the seven habits that masterful managers utilize to guarantee team success.

1. Collaborative.

Managers who collaborate rather than command create team cohesion and positive morale. Collaborating doesn’t put anyone down. Commanding managers are arrogant, emotionally violent and secure results through the production of fear and game-playing. These types of managers may see results, but their team members and customers will show high turnover, producing only short-term successes.

The most lucrative and stable path to getting results is through collaboration. There is something deeply bonding when working together to secure common goals. Team members learn to model the collaborative vibe of their manager and apply it amongst each other and also with customers. Great managers know that collaborating in any endeavor, inside or outside of the company, produces the most worthwhile results.

Related: How Complaining Rewires Your Brain for Negativity

2. Relationship oriented.

Great managers, manage people not numbers.  Although numbers are important, the purest method to get employees to work hard is for them to work for and receive approval. Approval is the greatest form of payment. Numbers are non-emotional. They have no lasting impact on self-worth because there are always going to be higher numbers to meet.

Under a relationship-oriented manager, where approval and encouragement are woven into the fabric of the relationship, team members become unafraid to reach for higher quotas. They come to believe they can meet them, and to keep the faith of their manager, are more motivated to do so. The more relationship-oriented a manager is, the more team members are willing to perform because they are receiving the guidance and encouragement the need instead of fear and punishment.

3. Give credit.

Great managers give credit wherever and whenever credit is due. They do not have the selfishness or arrogance to need to take credit for the success of their team to feed their own ego. In fact, managers who are collaborative prefer that team members receive the credit for their results. When the team gets the credit, it cultivates a deeper drive within them to work hard to earn that type of credit again and again. This makes work a pleasant and fun place to be.

People who enjoy work and the dynamics they share with upper management, are those who feel good about sacrifice and working hard because there is purpose and reward driving them internally. When teams are given credit it allows them to experience the fruits of their labor, providing them with a deep sense of passion and satisfaction for what they are doing.

Related: 6 Ways to Work Less but Get More Done

4. Equal treatment.

Cohesion on any team is the x-factor for success. For this reason, great managers treat each individual team members according to their unique gifts. Wise managers avoid playing favorites; only preferring to work closely with those members who get their numbers. Equal time and equal treatment are vital to the development of team cohesion, as it rids teams of destructive emotions such as jealousy, which can be hugely destructive.

When managers play favorites, the team is fragmented by the divide and conquer approach set by the manager, creating animosity between members. Animosity inevitably leads to people trying to cheat and or undermine others on their own team. While managers will naturally work better with some members more easily than others, differential treatment goes directly against any formula of success. Equal treatment doesn’t take away individuality. Each team member is coached individually based on the strengths and weaknesses the manager identifies. Equal time given to all members creates positive morale between team members and their manager.

5. Open.

Effective managers are humble, not know-it-all’s. Rank doesn’t always reflect knowledge, especially in a world that is on the fast track of change with the continual advances in technology. Those who manage well, listen and learn from their team members and take in what they bring to table before advising or directing them. Great managers are open to learning and also open to receiving feedback from their team on what more they may need from them or others in management.

Know-it-all managers see themselves as perfect and above their team, instilling a great divide between themselves and their connection with team members. No one wants to approach a know-it-all with a problem, out of the desire to avoid confrontation or condemnation. Hence, more mistakes are made in the know-it-all environment because communication is low, not always forthright and stress is high. Managers who are willing to listen and learn succeed and get results because the issues in need of discussion are comfortably on the table for analyzation.

Related: Deepak Chopra’s 7 Ways to Reduce Stress and Anxiety

6. Sensing.

Successful and well-liked managers are like a “players coach.” They are sensing people who pay attention to both immediate data from their five senses and data from their own direct experience. They develop understanding from conscious thought, rather than trusting their subconscious and are happy to dig into the fine detail of the situations they are in with their team. In other words, they focus on what is immediate, practical and real, and manage in a reality-based framework supportive of their team, rather than trying to change what is not under their control.

Sensing managers are grounded in logic and manage in practical and realistic ways. They like to pursue things with a well-devised plan, having the details worked out in advance. These types of managers are phenomenal because they serve to ground the more emotionally labile moments experienced by team members in uncertain situations. Team members can come to their manager to calm down and gain perspective, giving them the ability to be rational and think things through intelligently.

7. Intuitive.

Masterful managers are able to be sensing and intuitive in tandem. They are able to process data rationally while also following their gut feelings when risk is necessary, or when their gut feeling is so intense that it is the only correct decision to make. Although they often trust and rely upon patterns and practical data, they are also great at predicting or intuiting patterns of behavior and market trends, allowing them to get out of the detail and into a higher level view.

Being intuitive takes managers out of the practicality of the now into a more future-focused mindset.  A future-focused mindset is the driving force of innovation amongst a manager and their team. An intuiting manager encourages team members to dream and imagine, provoking all members out of their comfort zones into acquiring new skills and towards the development of news ideas.

Related Book: No B.S. Ruthless Management of People & Profits, 2nd Edition by Dan S Kennedy

Masterful managers show a high degree of sensitivity to team members, and encourage them to operate with a high degree of respect and sensitivity to each other. When equal-treatment is the management style all members have equal voice where each has the chance to speak and express their ideas. Equal treatment leads to a collaborative environment where everyone feels important. Mangers who create teams with the foundation of these elements are successful in the short and long term. Great managers believe in their purpose, their individual team members and all that it takes for everyone to feel satisfied, happy, motivated and successful. The morale created by these elite mangers guarantees personal and professional success and esteem.

Exclusive Business Resources

We hope you master these 7 habits to lead your team to success. If you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.


6 Things to Learn From Apple’s Marketing

apple_bite

 

This month I’d like to focus on Marketing.  The following article was written by Rhett Power, Co-founder of Wild Creations, and published on September 19, 1016 in Inc. discussing how Apple’s success teaches us to build a better image.

The most important thing Apple’s success teaches us is not how to build a better product but how to build a better image. Apple’s innovation is more in how it conceives and markets itself than in its products.

Apple didn’t invent the PC, MP3 player, smartphone or tablet. They took existing concepts and used a different approach or added polish to make them desirable. With the iPad, for example, Apple joined Microsoft and other companies dabbling in the tablet market. Cutting down hardware for desktop software was never successful. Finally, Apple conceived making the tablet as a larger, more powerful smartphone, enhancing existing technology.

So if marketing is Apple’s unique contribution, what can we learn from Apple’s marketing? Here are six areas to consider:

1. The Product.

Although Apple’s most important contribution isn’t what they build as much as it is what they communicate around what they build, product is still important. You don’t need to invent something totally new. You can take existing technology and visualize it differently, put it into a new package. Make certain that everything works smoothly and looks great so users are proud to own the product and enjoy using it.

2. The Mission.

Create a clear sense of mission and communicate it to anyone who works for the company. Steve Jobs decided early on “that the company’s mission was to change the way people interacted with technology…” he wanted “to make technology so easy to use that it would become a prominent player in the way we, as humans, interact with each other.” A clear sense of mission allows clear purpose and direction within the company and clear communication to the world outside.

3. The Narrative.

Keep it simple and meaningful. Apple tells people that they stand for something, and they stick by those principles in action. The idea of “enriching lives” is big for Apple along with interactivity. Employees carry a credo card to remind them of how important these principles are. Play rooms for customers’ kids, the Genius Bar, salespeople not working for commission so they can better focus on the customer, are all part of that credo. From top to bottom, the business tells its story, clearly and simply.

Apple’s well-told story, like any good story, involves drama. In addition to simplicity and clarity, Apple includes villains in its tale, first IBM, then Microsoft, then Google and its Android operating system, with Apple “the only hope” and “the only force that can ensure…freedom.” It’s a story that keeps secrets and builds mystery, and it plays on emotions. Apple’s marketing “hit their consumers where they really live — not in the pocketbook…but in their hearts.”

4. The Visuals.

When you can go with a visual instead of words, choose the visual. Like the verbiage, keep the images simple. Consider Apple’s well-known logo, a simple shape of an apple with a missing chunk. If you saw a picture of a real apple, just a couple of well thought-out words would probably connect you very quickly to the world of Apple technology, not a natural link had Apple not made it so.

5. The Community.

Apple users form an enthusiastic community, from top executives to employees to customers. Common words that refer to this community are “evangelists,” a “cult,” or a “tribe.” All imply a group of people engaged with the products in such a way that they are happy users and promoters. They interact with others in the community seamlessly and persuade others to join the community. Apple users are happy to review products, and Apple leverages these reviews.

6. The Experience.

Apple provides a well-integrated experience for its customers, from the way employees receive and interact with them in a shop, to the product packaging, to the seamless connection between products, to the way members of the community connect with each other. Apple’s mission speaks for itself at every level of the experience.

So…a great product, a clear mission, a good story told simply, briefly and with drama, touching the emotions, simple, thoughtful visuals, an enthusiastic community and a seamless user experience — easy, right? But as Winston Churchill once said, “If I had more time I would have written you a shorter letter.” Simplicity and brevity are hard work. They take time. But they are well worth the effort.


Are You Always The Decider? That’s No Way to Grow

For this week’s Blog, I’d like to share an article by Peter Economy published in Inc. focusing on teaching your employees how to sharpen their decision-making and you’ll reap many rewards, including a better workforce.

Every day, you and the people who work for you need to make decisions. Many decisions. As the leader, you may take it upon yourself to make the most critical ones,but for the company to thrive you have to be sure that the people who work for you develop this essential skill. One of the best decisions you can make, therefore, is to devote time to helping your team improve their decision-making. Here’s how.

1. Encourage autonomy

If you have delegated authority to your employees and solicited their input, avoid dictating to them how they should do their jobs or micro-managing their approach to problem solving. Instead, spell out the goals or desired outcomes and then let them decide how to achieve them. When your employees know what is expected–and you give them the autonomy to develop their own solutions–they will become adept at making good decisions, even if that inevitably entails learning from bad ones. As your people learn how to make better decisions, they will build confidence and autonomy.

2. Be a good role model

The rapid demands of day-to-day operations often require managers to respond on-the-spot, but whenever possible take the time to make informed, intelligent choices.Model for your employees the way in which you arrived at an informed and timely decision by gathering facts and assessing the available data, always focused on what you think is best for the organization. If in doubt, or if the situation permits, make it a group exercise–and don’t be afraid to ask for plenty of input. But never lose sight of the fact that what you want to model is the importance of a confident, timely, well-informed decision.

3. Provide reality checks

As your employees learn and become more autonomous, offer timely feedback on the quality of the decisions they’ve made. Avoid the temptation to wait until you feel feedback is warranted, or to ignore it altogether (easy to do if the decision proved wise). Always be coaching. If the feedback is positive, tell them what went well and why you want to see more of it in the future. If decisions were less than optimum, educate them of the full consequences of their choices and ask them how they might do things differently in the future to avoid the same results.

4. Foster a sense of security

The whole point of encouraging your people to make decisions is to provide them with an environment in which they can learn how to think for themselves, and to take risks when necessary. If you don’t do this then your employees will constantly rely on you for direction. Your time will be under even more pressure, and your employees won’t be growing in their positions. When your people can make good decisions themselves, you win more time to do other things for your business and your employees become more responsible and more effective.

5. Reward the behavior You want

Get in the habit of praising employees when they make decisions. Be specific about how their efforts fixed a problem and benefited the organization. If they decided to reach out to a customer with an additional order update, for example, and you feel that that decision strengthened the customer relationship, let them know that they made a very good call. Virtually every act of initiative can be seen as a decision, so be alert to chances to praise good choices. When you do, you’ll see many more of them being made.

If you need help with making the most of your time and helping your team improve their decision-making, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.


cutting the red tape

Cutting the Red Tape

Cutting the Red Tape with Big Companies

In the last post we talked about how to bring the big-company mindset into your business and your team. This will help you overcome the mental obstacles that will keep you from being successful. Now, that you’ve learned how to overcome that, we’re going to talk about who your fish is. It’s important to know about the fish you are looking for before you put a plan together. We’re also going to take a moment to talk about the cutting the red tape that you may encounter along the way.

The most important thing to know about your fish is their purchasing habits and procedures. There are four main things you need to work on in order to be successful:

  1. Responsibilities: You need to know who has influence over purchasing, who does the actual buying and who can kill a deal if they want.
  2. Get on Their List: You need to know how to get on their list of people to buy from. Your name needs to not only be on the list, but at the top of it and in as many categories as possible for the more interaction. Ask about a procurement program and what you need to do to go through the application process.
  3. Lingo: You need to learn the company’s unique language and communications methods. These could include report names, buzzwords and even the nicknames they have for their employees.
  4. Fiscal Budgets: It’s essential you know the fishes fiscal budget, so you know exactly when they are planning their expenses for the year.

Now that we’ve talked a little about what you need to know about your fish, let’s a quick look at cutting the red tape.

Bureaucracy might as well be a four-letter word with the emotions it stirs in all of us. “Red tape” is a necessary evil, but one you can use to learn from. There are two ways to learn from their system:

  1. Analyze their activity.
  2. Review their correspondence.

Being an outsider looking in can have its advantages too. If you hate dealing with the “red tape”, imagine how their employees feel dealing with it. If they need to crunch some numbers, offer to do it. If they need more info, make sure you are giving it to them in a user-friendly way.

The things we talked about in this lesson will help you prepare for the big approach. If you need help with cutting the red tape, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.


find large clients

Find Large Clients

How to Find Large Clients

There are a number of factors to take into consideration when prepping yourself and your company to find large clients for you to work with.

Today we’re going to start with a brief look at the three paths every business faces and show you which one is the path to success. Then we’ll talk about the mindset it takes to attract the big fish.

There are three major paths a business can take when trying to find large clients:

  • Snail Speed
  • Shooting Star
  • Catch the Big Fish

Snail Speed

Most business owners ended up working themselves into the ground without much reward or success. This is what happens when you fool yourself into thinking you will find quick success. You may also find yourself following this path when you are afraid of change.

Shooting Star

This describes a business that shoots to the top so fast you are overwhelmed and don’t have the right resources in place to adapt. This can also happen from being overwhelmed by small clients and not taking the time to find large clients, which will sustain your business after the small client sales slow.

Catch the Big Fish

This is the path that allows you to build at a steady pace that you can manage by not allowing your customers to outpace you. You can do this by putting these tips to work:

  1. Attract, keep and lock in big clients.
  2. Integrate “big business” culture into your company and employees.
  3. Acquire the expertise you need to grow.
  4. Have the courage to make changes as you grow.

Now we are going to transition a bit and talk about the “big fish” mindset. It may sound easy to just find and catch that big fish, but if you are stuck in the small business mindset, you may find it harder than you think.

Think of all the benefits of aiming at bigger clients:

  • Inexpensive
  • Highly Profitable
  • Longevity
  • Security

In order to find large clients, you need to believe your company can make a difference with their business. It’s easy to get into the thought that a large company doesn’t need anything from a small business like yours, but this is entirely wrong!

Once you take a look at how big companies operate, it’s important to know which ones are the best fit with your company. One of the best ways to get in the door is by knowing someone on the inside who can put in a good word for you.

If you’re not sure where to start and feel a little intimidated about catching big fish and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.


position your business

Position Your Business for Big Clients

Position Your Business as the Perfect Bait for the Big Fish

You need to position your business so that it is the perfect bait for your biggest fish. In the last post we talked about how to learn about your big fish and prepare for the first contact you’ll make with them. This first contact is essential to your success. You need to instill confidence in them. They need to know you can fulfill exactly what you are offering on time, at a good price and at the quality you promise.

Today we’ll actually go through the big approach and how to make that perfect first impression. Before you put together your approach plan, you need to choose with big fish you’re going after. Take a look at your notes and the research you’ve done about prospective fish. Then decide which one will be the easiest approach to start out with.

There are a series of things to go through in choosing which fish to start with. They are:

  • Position Your Business
  • Compile Your Hit List
  • Select the Best Target

Position Your Business

You need to position your business to make the first move by listing your revenue streams, id and list your operational procedures, where your fish is initially positioned, your big-customer research, and putting it all together.

Compile Your Hit List

Start with a list of all the companies you’ve been considering. Then narrow it down to the ones who know could use your products or services. Don’t overlook obvious choices, whether they are big or small. Even small companies could be big fish in the future.

Select the Best Target

Once you’ve got your list narrowed down, you need to decide which one is the best fish to start with. You need to consider a couple of things:

  • Which have the most purchasing resources to spend?
  • Does their company vision compliment yours?
  • What are their employee incentive programs as they relate to your products/services?
  • What’s the company’s real need for you?
  • Will the partnership lead you off-course?

Now you should have a target in mind to start with. It’s time to plan your approach and execute that plan.

Here’s the step-by-step plan to help you make a good first impression:

  1. Build and analyze your database. Divide your leads into three different categories: hot leads, great fits and secondary leads.
  2. Send out introductory mailings to your target to introduce yourself, your company, services, products, and vision. They need to be short, clean and concise.
  3. Follow up with your first phone call 2-3 days after they would have received the mailings. During the phone call find out whom you need to be speaking with in the future and try to set up a meet with the right person.
  4. Follow up your phone call with another mailing that thanks them for taking the time to speak with you and offer more details about your products/services. Use this letter and opportunity to set up a meeting to do a presentation.
  5. Follow up the letter with another phone call a couple of days after they would have received the letter. This phone call is to help you further develop your relationship with the prospective client. You should also be able to set up a presentation meeting with them.
  6. Call again a week later if they haven’t agreed to a meeting or presentation. Ask if they received your creative letter (the second one) and if they have a minute when you can stop by and introduce yourself in person.

Now, don’t be upset if you don’t seal the deal right away. Some people simply take a little longer to woo. This can all be a little intimidating at first, but when you know you are offering a quality product/service, you can’t go wrong.

Once you’ve gone through this process and make first contact (and hopefully a good first impression) it’s time to put your best face forward, which means sending the right salesperson to seal the deal.

If you need help putting together your approach and make a good first impression, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.


maximize your business

Maximize Your Resources – Part 2

Maximize Your Business

Today we’ll look at how to maximize your business as a resource. Last time we talked about the first three areas to work through in maximizing your current resources. They were:

  • Recognize the obvious
  • Unconventional breakthroughs
  • Face the facts

Today we’ll cover the next three, which are:

  • Reveal your business’ soul
  • From breaking even to breaking the bank
  • Stand up and stand out

Reveal Your Business’ Soul

Every business has a soul and you likely felt it the strongest when your business was just starting. It’s that passion, newness and momentum you had at the very beginning. Sometimes that can get lost along the way as your business gets stagnant and set in its ways. You have to break out of that rut and get back to your business’ true soul and use it to maximize your business.

The philosophy of putting your client’s needs above your own is the true key to success. You need to serve your clients not sell to them. They want to build a relationship based on trust, not a used car. Add to these responsibilities your ability to solve problems, handle special situations, be a friend to your clients and focus on offering valuable, high quality products/services. Only then will you get back to the basics and find you have more resources than you thought.

From Breaking Even to Breaking the Bank

One of the classic and most used ways to attract clients is to offer them a ridiculously low price on their initial purchase and lock them in for future purchases. You see this approach with movie or book clubs and even credit card companies who offer lower interest rates for the first six months.

Essentially, you are offering them a deal on their first purchase and then you offer them back-end and add-on products along the way. These are naturally higher prices and will bring them in to more of an intimate relationship with you and your company.

Stand Up and Stand Out

You need to stand out from the pack among your competitors. They only way you can do this through consistency and value. You do this by discovering what your USP (Unique Selling Proposition) is and perfecting it. Here are some tips to help you find and develop your USP:

  1. Look for unfilled needs in your industry.
  2. Use preemptive marketing.
  3. Use a technique that is clear and to the point.

This wraps up this post. If you need help with any of these areas or to learn more about how to maximize your business, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.


maximize your resources

Maximize Your Resources – Part 1

Maximize Your Resources to Increase Your Profits

Over the next few posts we’re going to talk about how to take a hard look at your current resources and get the most out of them. This can help your capital go further and increase your profit margin. Today we’ll cover three different ways to maximize your resources with what you already have. These include:

  • Recognize the obvious
  • Unconventional breakthroughs
  • Face the facts

Recognize the Obvious

Sometimes when you are too close to something, you can’t make out the big picture. You need to step back and really take a hard look at the resources you currently have in front of you. You are surrounded by opportunities that can boost your career and help your business become more successful.

Unconventional Breakthroughs

Don’t sit around waiting for breakthroughs you need to create them yourself. You will not be able to maximize your resources if you sit around waiting for breakthroughsyou need to create them yourself. A breakthrough is merely a new way of doing things or finding a new thing to do for the same or better results. You should be having regular brainstorming sessions and encouraging your team to come forward with breakthroughs or ideas any time they have them.

Some great examples of breakthroughs are:

  • A health and beauty company discovers a side effect of a product that can be re-marketed and sold.
  • A company creates a roll-on deodorant inspired by the shape and size of a ball point pen.
  • The founder of Nike poured rubber onto a waffle iron and created the most innovative and successful running shoe ever.

When attracting or strategizing for a breakthrough there are some key objectives you need to keep in mind. They are:

  1. Look for the hidden opportunity in every situation.
  2. Look for at least on cash windfall for your business every three months.
  3. The more value for your client, the better your breakthrough.
  4. Create multiple streams of idea to find the best breakthroughs.
  5. Effective breakthroughs remove all risk or resistance.

Face the Facts

Before you can put your breakthroughs to work you need to face the facts of the processes and systems that are not working for you and work to correct or get rid of them. System analysis is a good way to do this. Once you have a listing of your strengths and weaknesses, you need to compare those to the strengths and weaknesses of your competitors.

There are some great questions you can present to you and your team to get a handle on where your business is right now. They are:

  1. Why did I first start this business? Why am I in this industry?
  2. What products/services did I offer then? Which were the most popular?
  3. Why are my customers/clients buying from me right now?
  4. How did I generate new customers/clients then?
  5. Which of my marketing efforts were bringing in the best results?

Once you’ve got some answers to these questions, you’ll know better how to approach your weaknesses.

These three areas we’ve gone over give you a jumping off point for how to maximize your resources. If you need any help with your strategic or systems analysis, and you are in Chicago, Oak Brook or surrounding areas, contact us today if you feel you need some coaching on this topic!

Greg A. Lee is also available on Advicoach.


turning prospects into customers

Turning Prospects into Customers Overnight!

Today I’d like to talk about turning prospects into customers and retain them for future marketing to. While, your marketing is doing its job, you need to be working on turning those prospects into customers. There are a few key ways to draw them in and seal the deal. You need to be:

  • Inviting
  • Informative
  • Enjoyable

The biggest fear of most new customers is the dread buyer’s remorse. You want to avoid this at all costs and this should be mitigated if you’ve provided a quality product/service that delivers on the marketing claims you’ve made.

However, this can still occur. There are two ways to deal with this:

  • Offer to refund money-no questions asked
  • Offer a bonus they can keep even if they return the product

These offers alone will also mitigate buyer’s remorse because the customer will trust you more, just for offering these things.

There are number of other ways to turn a prospect into a customer:

  1. Offer a special price as an opportunity for you to test the market.
  2. Offer a lower price with the reason of pushing inventory to pay a tax bill, for your kid’s’ braces, or another tangible reason. Customers love that this makes you feel so much more human.
  3. Offer a referral incentive.
  4. Offer a smaller, more inexpensive product first to build trust.
  5. Offer package deals.
  6. Offer to charge less for their first purchase if they become a repeat customer.
  7. Offer extra incentives-longer warranties, free bonuses if ordered by a set date.
  8. Offer financing options, if applicable.
  9. Offer a bonus if they pay in full.
  10. Offer special packaging or delivery.
  11. Offer “name your own price” incentives.
  12. Offer comparative data or other comparison tools.
  13. Offer a trade-up or upgrade to something they already have.
  14. Offer additional, educational information to help them make the decision.

The options really are as limitless as you make it. You can use these or other ideas to find what works the best for your business, products/service and target market. Remember this…

“By making it inviting, easy, informative, non-threatening, educational, inspiring and fun to do business with you, you’ll loft your company above the competition.” Jay Abraham


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