Bill can’t understand why his people are discouraged and frustrated. After a couple of slow years, the company is busy again so there’s plenty of work. No fairness or compensation issues have been raised. He is keeping everyone aware of their progress and communicating his expectation that goals must be achieved to accelerate their progress. So why do many in the company seem so negative? Peter Drucker and other gurus have been credited with saying: …
In their book, Tuned In (Stull, Myers & Scott), the authors use the term “distinctive competence” to define the unique value produced by an organization for their customers. This is not your core competence but rather an outward looking principle that is more profound than what your company does well and more vital for your sustainable growth. Customers choose to work with companies that solve their problems better than anyone else. You earn this preference by gaining a comprehensive understanding …
We all recently relived the horrific events that seared the date of September 11th into our memories. It was a tragic day, but it provoked in us a realization of common purpose that many had forgotten. Do you recall the pride and energy that our shared purpose aroused in us? There are days when you feel like your business is under attack. Meeting rapid fire challenges drains the energy in your organization and can cause …
One much revered principle of people management is that you should treat everyone the same if you want all to feel that they’re being treated fairly. But this approach is unproductive. Equal pay for equal work is a vital management parameter. Employees are constantly watching to see if someone is getting a better deal than they are. Sustaining fairness in compensation is mandatory to building trust and motivation. But once compensation issues are resolved, what …
Judy’s company produces a high quality water container serving the recreational market. When I arrived, Judy and her Sales Manager, Bill, were brainstorming about new product concepts for their served market. To achieve their growth goals, they needed to launch a new product that would capitalize on their success and be distinctive enough to appeal to their market. One of their employees had recently told Bill about his friend who was using their key product …
Prevailing wisdom states that the unmet needs of your customers are the most productive source for “New Business Opportunities” or service ideas. Others claim that relying on existing customers for your innovations can lead you to chase those customers “down the rabbit hole” of worthless concepts. Customers are always a valuable source for potential innovations. Your relationship enables the sharing of unmet needs that are typically viable for their served markets – ideas you might …
A recent Gallup poll finds that 7 out of 10 workers are “actively disengaged” at work – they’ve checked out and are only going through the motions! Customers have more options than ever before. They can acquire materials from numerous places at low prices. Technology advantages are fleeting. Your people can be your sustained competitive advantage – if they are engaged in your business. Most businesses need all hands on deck now. Engagement is contagious …
You do many things to make your business successful…provide superior customer service, produce good quality products, build a strong leadership team, engage your employees, promote innovation and more. In the process of juggling all your plans and actions, there’s one factor above all others that will determine your success and it’s the excuse you must avoid. “Lack of focus is the excuse you must avoid.” Business circumstances are ever changing. Knowing what’s important at any …
Last summer I met with the CEO of a small but solid consumer financial services company. He’s a super salesman and has a team of like individuals. We prepared a modest proposal to replace his website with one that reflected his firm’s huge commitment to customer service and flexibility and to help begin to get business online. At the presentation, he told me his firm could not get customers from a website. I had already …
Andrew had just received feedback on his proposal from a new prospect when I arrived. He had followed their instructions when submitting his proposal via their Excel spreadsheet, including the requirement to offer one specific price proposal. So he was surprised to learn that his proposal was considered to be too narrow and inflexible. Andrew’s prospect uses an Excel spreadsheet proposal process to make it faster and easier for them to compare the submitted proposals. …