 I moved from working in my business to working on my business!
Jim White, Founder Savor Dallas http://www.savordallas.com |
 I found a community of business leaders who make being in business a lot more fun and less lonely.
Jeannine Sandstrom, CEO CoachWorks International, Inc. http://www.coachworks.com |
 I now have a place to be open about my business success and future challenges.
Debbie Mrazek, CEO The Sales Company Author The Field Guide to Sales http://www.the-sales-company.com |
Posts Tagged ‘president’
Every good SEO program begins with keyword development and monitoring.
Keeping track of where your website ranks on Google for important keywords and keyword phrases can be a full time job. Although many tools exist for monitoring search engine position, properly evaluating SEO performance requires a disciplined approach.
There are a variety of ways to measure search engine rankings for your website. Popular website tools like SEO Elite and Web CEO include search engine ranking tools that can track where your site ranks for identified keywords. But what if you don’t own SEO software?
To evaluate search engine rankings, you simply need a means of measuring rankings on a regular basis. Follow these simple guidelines:
Create and maintain a spreadsheet of your rankings. Having a document that you continually update can help you see weekly changes as well as trends over time. Be sure to keep it updated at least once a week so that you are always aware of how you rank for keywords and keyword phrases you are watching.
You can choose your keyword list based on the keyword phrases you’ve selected as important, those your competitors rank well for, or individual phrases identified by SEO software. If you want to get a jump start, you can identify which keyword phrases your site is ranked for in the top 20 on Google using SEOdigger.com. This tool provides a listing of which keyword phrases your site ranks within the top 20 Google search results for and can be a great tool to identify your competitor’s keyword rankings.
- Record changes in search engine result placements simply by entering each keyword term in to Google or using SEO software. You can also find free tools online to report your rankings like CleverStat or GoogleRankings.com.
- Continue to make changes, build links, and record your results. This step will never be completed but rather is an ongoing process. You should strive to become number one on all your SERPs and get so far ahead that none of your competitors will be able to compete. This requires constant and never ending consideration to building links and creating more and more reasons for other sites to link to you.
- Consider reciprocal linking, link acquisition, as well as adding free tools to your website, valuable content, and helpful downloads. Access to these tools is ideal if you want to attract links to your website. Once you’ve added these valuable tools, make sure to let others know that they exist. Consider a free press release, email campaign or promotion.
- Expand your keyword list. As you improve your overall rankings on major search engines, consider adding other keywords phrases that may be relevant to your website, products or services. Focusing on an expanded keyword list can result in more traffic and broader appeal.
Monitoring and managing your search engine rankings, especially on Google is necessary if you wish to increase the organic traffic to your website. This begins with basic monitoring and evaluation of your rankings on key search engines. Once you’ve developed your spreadsheet, update your rankings each week with free tools or SEO software. - Continue to focus on your rankings and developing inbound links through free tools and resources on your site as well as proactive link requests. Over time, as you improve your rankings for key terms and phrases, expand your list. Improving your rankings is a never ending process, but an important one. Stay the course and you’ll experience the results you’re looking for.
Michael Fleischner is an Internet marketing expert and the President of MarketingScoop.com. He has more than 12 years of marketing experience and had appeared on The TODAY Show, Bloomberg Radio, and other major media. Visit MarketingScoop.com for further details and more marketing articles including tips on how to improve search engine rankings for your web site.
Today more than ever, consumers are overwhelmed with choices, and distractions. The cost of attracting users to your website continues to increase and keeping them engaged is more important than ever.
Engagement doesn’t end with an individual browser reading content or clicking on an ad. Rather, engagement is an ongoing process that results in loyal customers who come back again and again, becoming more vested in your web site.
How can you make sure you’re engaging and keeping customers?
In order to create a loyal following, there are some basic principles you need to consider. From first impressions to life-long membership, put yourself in the shoes of your browsers and make their experience a valuable one.
- Reduce Clutter. How many times have you visited a website only to be overwhelmed and confused? What is this site about you may have asked yourself. Or perhaps you found yourself asking, ‘Where is the information I’m looking for?’
Don’t ask your browsers or potential customers to figure this out. Make your site clutter free and create a visual priority that emphasizes the information, resources, or actions your browsers want. By reducing obstacles you build trust among new web site visitors and allow for simple decision making – which benefits everyone. - Make Navigation Intuitive. There are many ways to navigate a web page but intuition rules the day. Don’t try to get fancy with your navigation or overuse java script. Basic navigation that follows current convention is the best way to lead individuals through your web site to the information they’re looking for.
- Make The Initial Site Interaction Relevant. When a browser reaches your web site, you have less than seven seconds to get them engaged. Making your initial site interaction relevant to what individuals are looking for is essential for keeping them interacting long term.
If you are promoting your web site with Google Adwords, or any pay per click advertising for that matter, be sure to create customer landing pages that are truly relevant to the individual who clicks-through your ad. Once you’ve established relevancy, you can move them deeper into your content, tools, and resources. - Ensure That Your Content Is Up-to-date. Web site content that isn’t up to date does not serve your audience and browsers are likely to move on. One way to ensure that information is timely is by providing a feed of relevant news or information. If including static text on your web pages, try not to include specific dates. However, if you must publish dates, be sure to update this information on a regular basis.
- Start An Interaction With Your Users. Each time a browser views your web page, you have an opportunity to interact with them. Don’t let this opportunity pass you by. One great way to interact is to offer something of value at no cost. This can be a white paper, access to an exclusive list, or simply a 30 day free trial. Be sure to capture an individual’s valid email address and include them on your mailing list. An auto-responder is best if you wish to engage these individuals on an ongoing basis.
- Provide Plenty Of Support. Don’t hesitate to offer support right from your home page. Prominently display your 800 number, support email address, and additional information for your prospects and customers such as mailing address. This information is viewed favorably by search engines and also creates a sense of legitimacy. Contact information builds trust among prospects and elicits interest in your company.
- Make Sharing Easy. Once you’ve made your web site easy to use, don’t hesitate to offer browsers the ability to share your web site with others. This can be in the form of a simple widget that allows users to bookmark your page, subscribe to an Rss feed, or submit your content to popular news sites like Digg.com.
Individuals are much more likely to visit a web site based on a friend’s recommendation versus some other type of marketing initiative. Leverage the power of viral marketing with easy sharing tools.
Your web site can be your greatest asset. Unfortunately, many marketers and website owners are so focused on increasing traffic that they lose site of the audience that’s already visiting their web pages but are simply not converting.
Don’t make the same mistake. Improve the quality of you site through relevant content that is up-to-date and easy to find. Once you’ve engaged users, encourage them to share. Doing so will make your site perform better, increase conversions, and deliver value for all involved.
Michael Fleischner is an Internet marketing expert and the President of MarketingScoop.com. He has more than 12 years of marketing experience and had appeared on The TODAY Show, Bloomberg Radio, and other major media. Visit MarketingScoop.com for further details and more marketing articles including tips on how to improve search engine rankings for your web site.
Dixie Yonkers Special To The Business Review
Getting some outside advice can make the difference between going it alone and going under, or making an idea work. For small businesses, this translates into soliciting advice and guidance from a board of directors or advisors. Some are trying it and finding the results more than worth the effort.
Kathleen Godfrey, sole proprietor of Kathleen Godfrey Financial Planning of Colonie, was in business four years when she heard about the idea of assembling an advisory board. She invited five professionals whom she knew and respected from various fields to serve for one year. They would meet once every two months and listen and comment while she presented her marketing plans and financial statements. In turn, Godfrey committed to donating one-quarter of her net profits at the end of the year to a charity of the advisory group’s choosing.
"When you are on your own, it is so easy to procrastinate, to get sidetracked, so your business isn’t growing the way it could be," Godfrey said. "They gave me someone else to be accountable to. I couldn’t risk losing credibility in the eyes of people I really respected."
That accountability did the trick. Godfrey’s bottom line increased 37 percent in the year since the advisory group began. On May 9, she handed a check for $2,500 to the Legal Project, a nonprofit group that assists victims of domestic violence.
"It’s been a wonderful experience," she said. "I get a lot of good ideas from the group. They’ve seen potential problems before they actually became problems or [have] seen things from another angle."
Godfrey has made it easy for the group to help her, said David Rollins, marketing manager for Plug Power Inc. of Latham, a member of the advisory group. "It has served a great purpose for her. Not wanting to waste the group’s time or embarrass herself has been the glue that holds it together," he said.
While it has been difficult to report her progress at times, Godfrey said the group has helped her to view herself more objectively.
"You have to be able to be a critic of your own business," she said.
Rich Bollam, a partner in Bollam Sheedy Torani & Co. LLP CPAs in Colonie, also has seen the value of outside advice. While his firm has not established a standing advisory board, it has on three occasions invited advice. Eight to 10 of the firm’s most valued clients came together for three hours to respond to a prepared agenda. No executives from the firm were present, said Bollam, just the clients and a tape recorder.
"The idea is to get some good clients in a room and get a high-quality information exchange," he said. With no company employees present, the conversation is candid and objective.
Though the investment is nominal, the feedback is very valuable, Bollam said. The firm has found out what it does well and what clients would like it to do in addition. It has gotten leads for potential new clients and direction for future marketing. The client advisory boards have also helped spread the word about the quality services the firm does offer.
Bollam Sheedy’s client advisory boards have met about once every two years, he said. The firm has arranged one meeting for a client’s firm as well, and would like to offer this type of service more.
"To me, with very little effort and a little organization, you can get a lot of low-cost information from folks around town," Bollam said. "Anybody should do it," he said. "It’s almost like, `Should I plan?’ Everybody should plan."
Still another take on the use of outside boards is that of Taconic Farms Inc., breeders of laboratory rats and mice in Germantown. Though the company has recently grown past the small-business category, it has remained a family-run business for the past 49 years. From its earliest, even as a very small company, an outside board of directors was in place. Now, with three brothers collectively running the business and their mother chairing the board, that board continues to provide accountability and expertise.
It has been important not to have those who run the company on the board, said Joseph Phelan, co-owner of Taconic Farms with his brothers Sam and Richard.
The Taconic Farms board consists of six members, some of whom have served for many years. They bring business, legal and financial expertise, as well as technical expertise in veterinary pathology and nutrition, to the company’s decisions, Phelan said. The board meets twice a year, and individual members are called upon between meetings as needed.
Getting the three brothers to agree can be difficult at times, said Phelan, and then there’s the board to answer to. Phelan said his mother, now in her 80s, is just now figuring out that her sons have a pretty good idea of how to run a business.
That family dynamic that Taconic has somehow been able to keep positive is often the weak link, said Stanley Simkins, president of Menands-based Management Advisory Group and director of the Siena College Family Business Institute. Small or family-run businesses often make the mistake of putting inside people on the board. The board then fails to give objective advice.
"The idea behind a board of directors or advisory board is to get accountable, objective expertise, structure and discipline," Simkins said. "But if the implementation is to bring in your buddies, what have you gained?"
Though advisory boards and boards of directors can be a valuable thing to a small business, it matters how they are established and run. In Simkins’ view, it is a rare small company that has done it well.
Simkins’ word to the wise is, "Proceed with caution."
Most people answer this question with an immediate "YES", until they actually sit down and try to write a script. It appears easy to write a script… when you first think about it. However, when it comes down to developing the actual strategy, positioning, subtleties, interaction, closing, and formatting (not to mention the objections and rebuttals), the ease of scriptwriting turns more complex than first anticipated.
Here are some things to ask yourself before you definitively answer the question: Can I write a telemarketing script?
- Do you have the marketing "know-how" to keep people on the phone from the outset of the call?
Do you know how to incorporate "interaction" into the script so that it doesn’t sound forced and prospects will provide an honest response? And will this interaction lead them to a "yes"? - Can you "close" the prospect with such subtlety that they know they’re buying a product or service (or setting up an appointment) and yet you haven’t broken the flow of the call?
- Can you format the script so that it reads easily (hyperlinks, correct succession of Presentation, Explanations, QTC, etc) and flow is not broken?
- Do you know how to position your product or service so that prospects see it differently from all similar products and services?
These are only a few of the questions to ask yourself before trying to write your own script. There are many others, but if you answered yes to at least 3 of these, you’re on your way to a great script.
After you have decided that you can write a telemarketing script you need to put yourself in the mindset of your customer and focus on their needs not your product. Your product will come naturally after they believe that you can solve their problem. The most important thing out of the gate it to get their attention so that you can release the distraction, or anger or whatever they might feel when you call. I have been calling on CEO’s for a couple of months because of some partnership deals I am working on for a client and right from the beginning I stress that we are looking for a mutually beneficial relationship. I have had not one hang-up or angry "who are you?". They have all said "tell me more about what you mean" or "what exactly do you mean."
I then educate them on how I think we can help each other do what we do best and be more successful while making higher profits at the same time. If you are calling on a customer it is the same way. Instead of saying, "I am mike selling car wash equipment." you would say something like "How would you like to wash your car once a month and have it look showroom clean the whole month?" That gives you a way in to give more information about how your product is going to fulfill their need.
They may ask "how that would work", or "are you kidding"…anything that gives you an opportunity to get a step closer to allowing them to buy your product is what you want. I was in a business group that we go to each month where a a sales guy in the group said he started saying, "This is a sales call do you want to hang up?" At first we all laughed, but then he started talking about having a very high success rate. Why it may sound crazy it is another way to snap the person out of their daze long enough to listen. He would always follow that up with fulfilling their need. How would you like to make more money next week or whatever that may be. Below I have provided a simple telemarketing script to show you how it works.
This is an example of Cold Calling For Partnership
Gate Keeper
Hello ABC Company, Lynn Speaking
Yes my name is Jim Wilson President of Jim Wilson Enterprises, I was wondering who I would speak to in your company about your products, services, and partnership opportunities.
Hmmm. What type of business are you again?
Lynn, we specialize in software control systems for ABC. I believe our products would enhance your product offering and increase your profit.
You Know I think the best person to speak to would be our CEO his name is Big Bob. Let me put your call through. He may be out of the office.
Thank you so much Lynn for your time. I appreciate your help, have a wonderful afternoon.
CEO
This is Bob
Good Afternoon Bob my name is Jim Wilson President of Wilson Enterprises. Lynn thought I should speak to you about how my products may enhance your service offering and increase your profits.
So what does your company do exactly?
Bob we specialize in software control systems for ABC that your product directly connects to.
Well we are in the hardware business, we don’t do software.
That is correct Bob, but there are companies out their that make millions of dollars connecting to your system. Wouldn’t you like to have part of that money in your pocket for not much more work.
Hmmm. well how do you fit into that picture.
Well Bob, we have been in the software business for a long time and want to continue to specialize in what we do. We believe that being successful requires focus and finding partners that do the parts of our business that we don’t love. We love what we do but don’t love what you are great at. From our research you already have a very successful sales team and support staff. They are considered world class in our industry. We are considered world class in the control systems we develop but are heavily leveraged with engineers. This causes us to waste valuable research and implementation time calling on the same customers that you call on for different products that connect together. Imagine how much money can be made when you control the hardware and software of a system.
You know, what you are saying makes a little sense. You want to focus on software and R&D which is your expertise. We currently are researching ways to grow as well and how to utilize or sales and support staff more.
The benefit we get by working together is being able to both do what we are good at while at the same time decreasing our turnaround times and sales cycles. This will allow both of us to increase our profits and utilize our resources better. We will also be able to act faster than our competition who has to manage two full companies. I know of one of your competitors looking to build an enterprise system like I am talking about right now.
Let me get some time on my schedule so we can meet and discus the possible revenue from a partnership. We are in the acquisition process right now to grow our business. Are you only looking for partnerships or acquisition as well?
We are looking for a mutually beneficial relationship with a company that has the same values that we do and eye for success. We are always open to all discussions. I will work with your assistant to schedule a date.
Ok, look forward to speaking with you in person.
The main idea is to get in person for this example. When you meet you want to be to the point, have all of your facts together, including the numbers you expect the partnership to generate. Always talk about partnership and mutually beneficial and mean it. Never come from only I need this or I only care about this. It will put people off and ruin a quick in that you got from your call. Please remember that in small business you have a chance to get the CEO or president much easier than you do in Fortune 500. You may have several gatekeepers in Fortune 500. Remember to be nice and respectful of each one you meet whether
they are a manager or an admin.
Ever wonder what a single page sales letter looks like dissected from top to bottom. In this blog post we have used a simple outline you can find all over the Internet and filled in example text to show you line by line what makes up a single page sales letter.
Single Page Sales Letter Anatomy
- This is the pre-head – it "calls out" to a targeted audience.
Attention Small Business Owners!
- The headline grabs your prospect’s attention
"Finally! A Marketing System Guaranteed to Increase Your Sales in 14 Days or Less or Your Money Back!…………………."
- The sub-head adds more information to gain interest
Our Marketing System Brings in More Customers, Increases Sales, and Saves You Money!
- The salutation zeros in on your audience
Dear Small Business Owner,
- The first paragraph of the body is called the lead paragraph and is where you want to entice the reader to keep reading.
If your sales are down or you have wasted thousand of dollars on marketing programs that don’t work, I’ve got good news for you.
- The body tells the story and gives details.
My name is Mark Ferguson and I have seen companies waste money on Marketing Programs for over 17 years! Time and Time again they fall for a sales pitch from some slick firm using key words that get them to buy, only to be left later with huge debts, unhappy customers, and with no new sales. After seeing the aftermath over and over again I knew there had to be a better way. I knew my clients were getting results for less money!
That’s when I set out to build a Marketing System that Works Guaranteed for less money, less time, and less work from you. I spent years with my clients researching, designing, and perfecting one system after another. Finally I have consolidated my system into a simple straight forward process that anyone can use. My program has been proven by top small businesses in the US and more than doubled the revenue of many small businesses.
Within 14 days my clients were increasing their revenue, getting more customers, all for less money. I haven’t seen a single client who is ready for growth not get results. Best of all my simple program works anywhere, without huge amounts of money or resources. Simply start the program follow the steps and you are on your way. It’s so easy – you never have to worry about where your business is headed again.
Customers will flock to your door because the program aligns all of your potential customers to buy and trust your business. Once they’re in there’s no escape because they will never consider doing business with someone else again. I call it Customers For Life.
- Bullet points – Are is a subject and an art all by itself. Many copywriters list features and leave it at that. Others translate features into benefits.
Why should you grab the Marketing System right now?
Increases your sales in 14 days or less – guaranteed so you’ll never have a revenue problem again.
- Easy so that any Small Business Owner Can Get Started Today
- Increased Sales in 14 days or Less Guaranteed
- Will save you thousand of dollars on your business marketing year after year
- The program attracts the right customers that stay with you for life
- Your revenue problem will be gone in 14 days or we’ll send you a refund for every penny – including shipping!
- Testimonials offer social proof
I had already experienced one business failing that resulted in bankruptcy and was facing another one when I met Mark at a conference. I knew something good was going to come of our meeting, I just didn’t know what. After six months on the Marketing System, my struggling publication that was about to shut down, grew 50 percent larger, I increased my revenue 300 percent, and attracted some of the most well-known names in our industry. I can’t believe all of this happened so fast. I know without a doubt that without the Marketing System I would not be in this place today.”
Josh Wilson, Houston, TX
- This trial close introduces the guarantee
I know it sounds too good to be true, but what can I say? This Marketing System really works! I’m so confident it’s the best, the only Marketing System you’ll ever need – I back it with my own, personal 100% lifetime no-hassle guarantee!
- The guarantee takes the risk away from the prospect
100% lifetime no-hassle guarantee!
If you’re ever not satisfied with my "Marketing System" for any reason, simply return it and I’ll promptly refund every penny. I’ll even pay for return postage.
You’ve got nothing to lose except your revenue problem. So how much does the "perfect marketing program" set you back?
- The offer tells what they get for how much and why they should buy right now. It also asks for the order!
Order today and I’ll ship your Marketing System by Priority Mail for only $1999.95! Remember you’ll be making more money in 14 days or less or your money back!
Can’t wait? Have your Marketing System FedEx’ed to you for Next Day Delivery. Order before Noon EST and I’ll ship it out today! (You will be billed for the extra shipping charges.)
- Call to action – usually accompanied by an order button
Don’t delay! Order Now.
- Closing identifies the seller.
Sincerely,
Mark Ferguson, President Creative Strategy
The one80group, Inc.
- The P.S. Strengthens the deal in some way.
P.S. Order right now and I’ll include one half hour of Executive Coaching with Marketing Guru Tina Ferguson at NO CHARGE! That’s a $1250.00 VALUE. Please know that this is a very limited offer and may be removed at any time! There are only so many hours in the day!
From billion-dollar corporations to small businesses, open book management (OBM) delivers results that take companies that are struggling or merely surviving … to thriving. In theory, OBM sounds like a business owner’s worst nightmare because the thought of sharing the financials can leave them feeling a little, well, exposed. Beyond vulnerability, however, is a road populated with incredible numbers of courageous companies who opened the details of the company to employees.
Perhaps the most well-known OBM success story is Springfield Remanufacturing Corporation (SRC), a division of Navistar. Before OBM, the company was a long-standing, money-losing division. After the OBM injection, company revenues exploded to $100 million. Small companies reap the rewards, too. Accounting firms report increases of 60 percent or more the year following OBM implementation. Some staffing firms have shown a sales gain of almost 80 percent in just one year. In short, OBM works.
But how does it work?
Simply stated, open book management places the responsibility of the company’s success on every person in the organization. From the janitor to the president, all are focused on increasing profits. The company’s goals become each employee’s goals, who realize that building a better system, maximizing productivity, reducing defects, cutting costs and increasing efficiency not only is good for business, but also good for them.
The basics of OBM include:
Financial literacy – If employees don’t understand the way their behaviors affect the bottom line, they can’t make smarter choices for the company. The first step to OBM is to “open the books” to all employees. Some companies choose to post scoreboards in the break room, others post financial information on the company intranet, and both meet at “all-hands” meetings to ensure everyone is on the same page.
Accountability – OBM makes every employee accountable for the company’s success. Whether an employee is a forklift operator, administrative assistant or CEO, each person is expected to first be a business person looking out for the financial well-being of the company. Owners and executives build in accountability by teaching employees how they can increase the bottom line.
Incentive – The ‘What’s in it for me factor?’ is strong in most business settings, but in OBM it is a critical element of success. Employees learn very quickly they get a piece of the pie when the company meets or exceeds set goals. More often than not, OBM offers higher-than-expected results. Company owners are only too happy to share the increased profits.
Paradigm Shift
Skilled business performance consultants realize it is not enough to show people how OBM works. The key to lasting success is developing the desire to make it work. Employee motivation comes from understanding that each person has a chance to make a difference. It’s a shift to empowerment instead of management. Owners and managers move from telling employees what not to do or how to do a task, to actually sharing with employees what they want the outcome to be. This empowers employees to be part of the solution. And all too often, those working closest to the process offer insights that lead to greater efficiency, increased cost savings and/or profitability.
Sign Me Up
So, you want to try OBM? You may be wondering how to actually implement open book management. There are four major steps:
Share Company Information – This goes back to unveiling the critical data needed to improve the bottom line. For a manufacturer, you may want to take a look at pieces manufactured per hour and explain how a small increase impacts the bottom line. If you are in a business where your returns are higher than industry average, discuss the reason with employees. Remember: it’s not enough to simply say what needs to be improved, and ask employees to do it or find ways to do it. Employees need to understand how their division or group’s numbers impact the company’s profitability. The more they understand their personal contribution, the more likely they will stick with the program.
Business 101 – Entrepreneurs seem to be born with a business gene. They tend to have a knack for company basics. On the other hand, most employees have no idea how the business operates or what matters affect profits. Today, many college graduates don’t understand how a business works. What if you could teach every employee to think like an owner? You can. Teaching employees the “game” of business brings company issues to life, and ignites the entrepreneurial spark inherent in all of us. Employees go from thinking the owner is taking home all the dough, to questioning wasteful practices and implementing efficient systems.
E-M-P-O-W-E-R Your People – If you think business owners squirm at the thought of turning over the financials, they get equally as nervous at the idea of turning over power to employees. Many management philosophies went the way of the dinosaur because they didn’t work when applied. OBM isn’t lip service. Company leaders must enable people to make decisions that affect their group or department, and be willing to accept the consequences of those employees’ decisions. Experience shows us that people learn quickly and often make smart decisions. To do otherwise would adversely affect their personal pocketbook. Now who would do that?
Make it Personal – Profit sharing plans have been around for years, but they aren’t like true open book management since employees know very little about how their actual actions impacted the bottom line. Just like any astute business owner, employees start the year with a goal or target. They can monitor their group’s or department’s success – or failure – on a weekly, monthly, quarterly or annual basis, and know right where they stand at any given moment. Knowing the bonus ahead of time has an incredible effect on motivation. If employees know their share of the pie is 10 percent of profits and they can see profits steadily increasing all year, they know the payoff is worth the extra effort.
OBM makes your business your employees’ business. The results can be awe inspiring, but it takes courage to try something new. Those who have done it say it has transformed their businesses. Those who haven’t don’t know what they are missing.
Every day, millions of employees in today’s business marketplace go home frustrated because “the boss” has seemingly called them on the carpet for something they either didn’t do, or in many cases, didn’t do very well. Not everyone’s perfect, but the way the boss, a co-worker, team member or anyone else delivered the criticism can make or break morale.
Put yourself in the other person’s shoes. Would you want to be demeaned for underperforming? Most supervisors or managers don’t intend to deliver a harsh dose of negative feedback. More often, than not, they simply never learned the art of constructive criticism.
Can behavior be changed? Absolutely. With work and the understanding that when constructive criticism is applied – and applied with a purpose – supervisors can get exactly what they want while giving the employee exactly what they need to improve.
If you’re providing constructive criticism, try these tactics.
• Respect the person’s integrity by reacting to behavior or performance in private.
• Provide feedback that is specific and behavioral, rather than general and judgmental. Focus on the work, not the person. Point out the two missed deadlines, not the fact that you believe the person lacks commitment to the organization.
• Remain calm, and ensure you are in control before you deliver criticism. Any feedback that is perceived as “angry” won’t do any good when the person you’re criticizing hears your emotion – not your intended message.
• Limit feedback. Don’t point out too many issues all at the same time. Focus on relevant, important observations that will make the most impact in the shortest amount of time. Deal with details later.
• Identify the positive outcome of the desired behavior. Stressing the positives will go a long way to motivating an employee to change.
• Provide the right balance of the positive and negative. Use common sense to make sure you get your point across while aptly getting the end result you want.
We all have a boss. Even the company president answers to clients or a board of directors. Knowing how to receive criticism graciously is an art form in itself. If you’re on the receiving end of the criticism, follow these tips.
• If you want to be perceived as professional, separate emotions from the situation. Consider your body language. Are you tense? Are you wearing the weight of the message on your face? Remaining calm and steady is key to the situation, even if the person is unjustified in making the criticism or the criticism isn’t delivered appropriately.
• Don’t interrupt and don’t provide excuses. This is a red flag to the other person that you’re nervous and defensive. Let the person finish before responding. You may even respond by taking a break and processing your responses. If the critic is rational, s(he) will understand your need to take time to think.
• Use the criticism to your advantage. For example, it would be more beneficial for you to thank the person, accept the criticism and turn the situation around.
• Don’t take criticism if it’s unfair. If the person is unjustified in criticizing you, let the person finish speaking, then approach the feedback with what you think happened without tattling on the other person or pointing the finger.
The bottom line is respect. Can you provide constructive criticism and let the recipient know s(he) is still a respected member of the team or organization? If so, you’ve done your job well. If not, it’s time for a refresher course on human behavior. Your willingness to provide constructive criticism – and accept feedback from others – is paramount to long-term survival in the marketplace.
Think back to the time when you were young. Remember when you saved your allowance, did odd jobs or relied on Grandma to give you the money to buy that really special baseball card or polka-dot hair bow? Your parents probably were supportive, yet benevolently instructive when they stressed, again and again, the benefits of income and savings.
What they may have failed to mention were two words that complement the entire scenario – cash flow. If you had proper cash flow, you would have enough money ready to go and ready to spend, instead of reacting to a potential purchase by trying to come up with the pocket change.
Today, the way we manage our businesses really isn’t any different than this somewhat dated scenario, yet companies sometimes forget about cash flow. The results can often be disastrous.
Think, for example, of the dozens of failed dot.coms in 2001. So many businesses banked on venture capital funds, spent the money on inventory, assets, employee salaries and had nothing left in reserves. It wasn’t uncommon to walk into a hip and happening Internet retailer on the west coast only to find three people doing the job of one.
With so many rainy days dampening the sunny ones, these companies were forced to lay off staff and eventually close their doors, resulting in thousands of unemployed workers.
If these companies had relied, instead, on the cash flow process, they may have been able to survive, albeit without that extra espresso machine or rock climbing wall..
Increase the Speed
Cash flow refers to the movement of cash in and out of your business. Whether you sell widgets or windows – and are General Electric or a small- to medium-sized business – money comes into your business in the form of cash received from customers at the time of the sale. It also includes cash received from accounts receivable and income from other activities, including sales commissions.
If cash flows in, it’s got to flow out. Cash flows out of your business to finance everything you purchase to actually run the company: inventory, raw materials, payroll, expenses, rent, utilities, interest on loans, equipment lease payments and accounts payable on trade credit that other businesses have extended to your company.
The key to improving cash flow is an economic concept we all learned, but perhaps ignore: simply improve the speed of money flowing into your company while decreasing the rate at which money flows out. For the entrepreneur or small business, this may mean pre-billing for any work incurred, or delaying expenses until necessary. Larger businesses with employees may want to undertake similar tasks … only on a larger scale.
Paint by Numbers
The missing link, therefore, is timing. Mark Deion, president of Deion Associates & Strategies, Inc in Warwick, R.I., says you could go out of business waiting to get paid.
“For example, it costs you $100,000 to produce something and a customer is willing to pay you $1 million,” he says. “We would agree that $900,000 is a great profit margin, but what if you have to pay the $100,000 in December and your customer isn’t going to pay you until April?”
While there are many theories on how to achieve cash flow success, most financial advisors agree on a multi-step approach that encompasses a variety of simultaneous techniques. Here are six steps for consideration.
1. Establish a receivable process. You can improve your chances
of receiving timely payments from your customers by setting up
an A/R process to record sales, generate invoices and monthly
statements, and track your customers’ current and past-due
balances.
2. Forecast cash flow. Study your customers’ paying habits so you
can begin to predict when and how much they’ll pay. Analysts
say the amount you forecast should be within five percent of
your monthly receivables. If your predictions are dramatically off
schedule, a cash flow problem could be looming.
3. Track expenses. Each month, compare projected expenses to
actual expenses. This will help you anticipate the need for more
cash and react immediately. For example, if you unexpectedly
have to repair broken machinery, you can cut expenses
elsewhere or take an advance on a credit line.
4. Project sales. It’s easy to assume the demand for your products
and services will be high, but it’s safer to base your projected
sales on facts rather than assumption. When you project
accurate revenues for a specified period, you can spend
accordingly. It isn’t magic; just common sense. For example, use
past experience to project future sales, and talk to your
customers or clients to determine their future needs.
5. Track sales. Even after you’ve projected sales, monitoring
actual sales ensures you’re on the right track. If sales dip below
projections, the sooner you make adjustments, the better.
Adjustments include cutting expenses, extending credit or
borrowing money.
6. Prepare for cash flow imbalances. Nothing is ever 100 percent
steady, and for many businesses, it’s more than normal to
experience cash flow fluctuations throughout the year.
Anticipate when your sales are likely to drop, then ensure you’ve
put cash aside to cover your expenses during the lean months.
No matter what your company’s situation may be, the overriding advice from finance professionals is to seek help from those who know. If you don’t think you can manage your company’s cash flow yourself, hire a professional who can handle your cash flow needs. And, remember, cash flow isn’t about crunching numbers, it’s about managing your company so that you won’t find yourself in a cash crunch.
For Immediate Release
News Release
Contact: Candace Fitzpatrick
Phone: 214-535-1313 or 972-612-0413
Is Your Company Smarter Than a Sixth Grade Class?
Underperforming Colorado School Unites and Excels After Discovering Talents
(Plano, Texas December 28, 2007) – Last year Nathan Smith, the principal of Del Norte Middle School, knew there had to be an answer. The question was, “What do you do when more than 50 percent of incoming students are underperformers in basic math?” The district ranked 161st the previous year – just seventeen slots from dead last in the state, which landed the southern Colorado school on academic watch. To correct the district issues, the school board hired a new superintendent.
The bigger concern for Smith was how to help his new students plug into learning. His new boss, Michael Salvato, a turn-around artist for under-performing school districts, challenged Smith to see if plugging into student’s innate talents would lead to student academic achievement.
Through Salvato, Smith was introduced to a woman from Texas who was doing talent-based work with company employees, helping them increase productivity and improve interpersonal relations. Seeing the similarities between his school and the corporate world, he asked what he could do to bring this same tool to his students.
“Our teachers are top notch. They were already noticing patterns within the student body,” Smith says. “We just didn’t have the language and tools to identify and work with the dynamic we were experiencing.”
The first week of school, every 6th grade student was assessed and each one received a list of his or her top three innate talents. The question posed to Candace Fitzpatrick, president of Plano-based CoreClarity, was, “What’s next?”
Fitzpatrick quickly created a color-coded mapping system that allowed teachers and students to relate to each other based on their core talents. Two district employees were sent to Dallas for training in group facilitation methods developed by the Institute of Cultural Affairs. They went back to Colorado and held a focused conversation during which the students agreed their mission was to make sure that no child was ever left behind in the 6th grade at Del Norte Middle School. Then, through a consensus building workshop, they created their own seven point plan to make sure they accomplished their mission.
What came next was nothing short of miraculous.
During the first reporting period, more than 88 percent of the 6th graders were on the A/B honor roll. The others had no less than C averages. Throughout the school year, 75 percent were consistently earning As and Bs, the others were in and out of the A/B honor roll, but never with anything less than a C average. They brilliantly executed their plan.
The shift in the environment at the school could literally be felt not only at school but at home as many parents called to report changes they were seeing in their children.
The talent-identification tool, which is owned by Gallup, Inc., is called the StrengthsExplorer. CoreClarity works with the results of this tool to map and provide a system and language so simple that students easily incorporate it into their daily lives. The color-coding also highlights for teachers how individual children best learn so they can modify their lesson plans to create a positive learning experience for all.
Parent/Teacher meetings have changed tone from focusing on the student’s academic struggles (perceived weaknesses) to highlighting their innate gifts. Communication has improved at home, too.
Denise Benavides, 6th grade math teacher, says, “It has changed the way we view ourselves, our abilities and each other. Each child, as well as each teacher, has a map of his or her talents. Now, we relate to each other in a fundamentally different way. It’s been truly amazing.”
One of the resource children, after receiving his results, exclaimed, “It’s not blank! I have talents!” In this way, each child can focus on what is best about himself or herself, yet still learn to work with others who are better suited to other activities.
Another child who opened his locker and found himself overcome by the contents falling to the floor cried out, “I need an organizer! Where’s an organizer?” Two students who excel at organizing things immediately rushed to assist him.
“Our school has moved from a place that needed to be fixed to a place where individuals are celebrated and honored,” says Smith. “Bullying is down by 75 percent in this class. In all my years in education, I’ve never seen anything like this. These students will never forget this experience.”
For a baseline, the class was assessed using a national test in September 2006, then again in December and May. They not only excelled as a student body, progressing two or more years in science and language arts, and a full three years in reading and math; but in September 2007, the results confirmed that as a class, they retained 100 percent of what they learned last year.
Fitzpatrick’s corporate clients have experienced similar, dramatic and accelerated changes after utilizing the company’s proprietary program. From leadership groups to nonprofit organizations to Fortune 500 companies, CoreClarity has helped individuals unite under one mission, increase individual and team performance, and work together more harmoniously.
Clients who have experienced the program have called CoreClarity an “Excelerant” – because they accelerate the removal of years of accumulated personal debris and move individuals and teams quickly to excellence. This clearing allows the true essence and excellence of individuals, teams and organizations to shine through in both adult and student programs.
For information about Del Norte Middle School contact Mr. Smith at nsmith@del-norte.k12.co.us. For more information about CoreClarity visit www.coreclarity.net. CoreClarity is not affiliated with Gallup, Inc.