Posted: March 26, 2012 | Categories: Management, Self-Improvement

One thing I love about coaching is the opportunity to get to what is most important.  In every conversation I have with clients and teams, they all start the same way.  It all boils down to focus and desired outcome.  What my clients are really saying is, “This is my “Here and now” and here is my “then and there”…How I get there?

The outcome of such a conversation always involves one or both of two components:  Building a new competency or skill and forming a new habit.

This morning I was talking to a client who was looking to connect with a person in a key position.  Jim had been thinking about calling the VP for several months.  He kept postponing the phone call.  So what was getting in the way?  Selling skills.  We did some role-playing practicing some key fundamentals, and at the end of the conversation Bill had both a commitment and eagerness to call the prospect.

Jim’s situation is one we can probably all relate to in some way:  When we are avoiding doing something that needs to be done, there is a reason.  If we can identify the reason, we can make the adjustment in our skill or habits to turn it around.  The other option is to keep avoiding the task, and we all know the definition of insanity.  Simply put, “If nothing changes, nothing changes”.

From this point on, as Jim and I continue to work together, he will become more and more competent in his selling skills.  As he does, sales will become easier and more enjoyable.  In time, what was once avoided will become a productive habit.  His skill and attitude will have changed, and making this new activity into a habit will be a natural evolutionary process.

Here is what we can do right now:

Ask ourselves:

1.  Am I where I want to be in my career and life?
2. What new habit or skill do I need to move forward?

Once we have  determined the key action we need to take, remember the 4 rules to build a new habit or skill:

1. Seize the first opportunity
2. Launch the strongest possible initiative
3. Keep the faculty of effort alive with daily practice
4. Never allow an exception to occur

It’s simple! (But not easy)

Posted: March 20, 2012 | Categories: Self-Improvement

If we are strong achievers, most of us have had the experience of being overwhelmed to the point where we say:

What’s the use?

I can’t catch up.

I am working around the clock with no end in sight

The irony is, most people I know who have achieved something they are proud of end up going through plenty of frustration.  If it were an easy achievement, we probably wouldn’t be that proud of it.

I was talking with a client last week who had reached a frustration point:  He was a regional manager, and was overwhelmed with constantly changing new policies and procedures in addition to taking assessments and getting new certifications.  He was required to get his team of 12 on board with the new mandates, and they were already overwhelmed with their time management challenges.   We put a focus on the problem.  First, we looked at his planning habits.  As pointed out in the planning blog last December, that is usually the first place to look when we want to manage our time better.  Bill (not his real name) was doing a good job of planning.  The next thing we did was look at time management goals.  A time management goals represents a new habit that we need to form.  New habits are the only way we can improve or time management skills.  After all, if it was a present habit, we would already be doing it!

I challenged Bill to consider what habit he could build that would help him.  In thinking through his situation, he discovered he worked more efficiently when he wrote up his reports right away after a meeting, rather than type them up after he got home.  He found that this habit kept him from bleeding in to his family time, and it also saved time, since the most efficient time to write the report was while his thoughts were fresh. All in all, he found he saved 30 minutes a day by building this new habit.  No big deal?  Consider this:  That is 2 ½ additional work weeks a year.  That is just from one habit. So how do you find what new habit would make a big difference for you?  Here are three steps I would recommend:

Do a time log and list all the things you do in your day

Ask yourself:

What can I combine?

What can I eliminate?

What can I delegate?

When you target the new habit, commit to tending to it daily until it is second nature.  This could take three weeks, or it could take six months.  Stay with it!

Posted: March 15, 2012 | Categories: Management, Self-Improvement

 There are some indicators that our economy is getting better, and you may be one of those whose business and profits are robust.  If so, here is some wisdom I will pass along to you courtesy of the late Peter Drucker:

“An organization should not grow faster than its ability to manage”

 That is the “what”.  Now we can turn to Ben Franklin to get a better idea of “how”.

Benjamin Franklin built his success on defining and living by clearly defined virtues.  He used these virtues every day to check the rightness of his actions or thoughts.  He originally had 12 virtues.  After a short time, he realized he needed to add one more – humility.  As he put it, “Every time I find myself getting very good at something, I start to feel too proud about it”

In his painfully helpful book, “How the Mighty Fall”, “Good to great” author Jim Collins analyzes five key phases in the decline of success.  Sears, GM, Motorola, and Circuit City are some examples he studied.  Here are the five steps as outlined by Mr. Collins:

1. Hubris born of success

2. Undisciplined pursuit of more

3. Denial of risk and peril

4. Grasping for salvation

5. Capitulation to irrelevance or death

He also emphasized that stage #1, “Hubris of success”, is the trigger that leads to the remaining steps of decline.

Let’s see how Webster’s Dictionary defines “hubris” and “humility”

Humility:  Refrain from boasting. Minimize personal accomplishments in favor or building others.

Hubris:  Wanton insolence or arrogance resulting from excessive pride.

Which word do you like better?  (I thought so)

Many businesses believe that their toughest challenge is generating more revenue.  In my experience, I find that the most stressful situation is when we are making tons of money.  There is a strong tendency to let our pride get out of hand, and when that happens, we can make some stupid decisions.

GM didn’t see foreign cars as a threat.  Sears didn’t take Wal-Mart seriously.  Motorola chose to be more engineering driven that customer driven.  As Mr. Collins puts it, “they lost sight of the underlying factors that created their success in the first place.”

So if you are at the top of your game, and enjoying profits beyond your dreams, take some time to do the following:

1. List the underlying factors that created your success

2. Determine which one needs the most attention

3. List and commit to one or two specific action steps you can do to improve the area of focus.

Have a “healthy discontent” with where you are at!

Posted: March 7, 2012 | Categories: Management, Team Building

Earlier this week, I was talking with a client whose company is substantially ahead their revenue goals for 2012.  That is exciting, especially considering we are not even finished with the first quarter.   You are probably asking how this is possible.  How did they do it?… Was it luck?.. .Did they just have the right product at the right time?…Was it good management and planning?  The answer:  All of the above.

You have probably heard the expression, “Luck is where opportunity meets preparation”.  Looking at what we can control, let’s take one of the most operative pieces of preparation:  CLARITY.

Clarity of goals:  This business owner (Jim) took the time to craft his 2012 business plan in November of 2011.  At the top of his plan in bold letters were his specific revenue goals and profit margin baseline.

Clarity of strategy:  If you were to ask Jim how he planned to achieve the goals, he would enthusiastically detail all the actions and categories of activity that would lead him to his goals.

Clarity of roles:  If you were to ask each of Jim’s team members what their role was, each of them could clearly tell you.

Clarity of responsibility:  Each role contains certain responsibilities in terms of desired results.

Clarity in tracking and accountability:  Everyone on Jim’s team clearly understands what is expected of them.  They all have an action plan with specific steps containing deadlines and benchmarks.  Each member does their best to do what they say they will do when they say they will do it. When they fall short, the group comes together to focus on the problem and agree on a plan of action.

Clarity in goals, strategy, roles, responsibility, and accountability can defeat finger-pointing and excuses and can enable a team to “advance confidently in the direction of their dreams”, as Thoreau once said.

To put these fundamentals immediately into play, check you clarity on the key areas mentioned.  If you find something fuzzy, take the time to make it clear.

Posted: March 1, 2012 | Categories: Sales

Ask the most successful salesperson you know about how they manage their pipeline.  They will know what you are talking about and they will give you your money’s worth.

So why talk about pipeline management?  To be consistent in our production and meeting our goal, we need a repeatable process with predictable results.

To start with, let’s talk about software.  Fancy CRM’s (Customer Relationships Management) like ACT or web-based Salesforce.com are nice.  They do require an investment.  Conceivably, you could use a simple Excel sheet for tracking and pipeline management.

Now we begin our sales activity so that we can “feed the system”.  Before going any further, I am assuming you have your business plan and sales strategy in place.  (If not, refer to planning blogs written on 11/28-29 of 2011)

Our strategy typically includes activities such as prospecting, cold calling, networking, public speaking, attending luncheons and special events, golf outings, generating website leads, and social media contacts.

Sales activity leads to conversations.  Conversations lead to face-to-face appointments.  Face-to-face appointments yield a certain percentage of customers.  This is our closing ratio.

While it is nice to have high closing ratios, it is even more important to crisply, honestly, actively, and relentlessly manage our pipeline.

In the pipeline, you will have two categories:  Leaners and long shots.  A leaner has said, “I want to do it”, but has not signed off on it yet.  A long shot has shown interest, but needs time to think about it.  Here are the percentages you need to know:

Leaners                    50% chance of closing

Long shots               10% chance of closing

Now we can project:  If I have 10 leaners and 10 long shots on my Excel sheet, that means I can count on 6 new clients.  Now I can forecast my income and be confident I can achieve it.

So how can you tell when someone is managing their pipeline well?  There is no fluff, no deception, and every prospect in the pipeline belongs there.  The pipeline is also full.  And what happens when they close?  They are both happy and restless, because they now have a vacancy in their pipeline and they must create a sense of urgency to fill it up.  Summing it up, good pipeline management means:

1.  Building a strategy

2.  Sales activity

3.  Create “Leaners”

4.  Advance long shots

5.  Keep your pipeline clear of “dead wood”

6.  Renew sales activity each time you close