BizSense by The Right Team

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Wed, 08 Sep 2010 05:53:00 GMT

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Business Metrics

Wed, 07 Jul 2010 02:35:00 GMT

What Are You Measuring?

Once upon a time I used to be surprised when I found that many a business owner does not know the key numbers regarding their business. Yet I have come to accept that this is part of the typical business landscape.

That is, that many a business owner, due to the frantic pace of business, does not know the key metrics of their business. And why some are doing less well than they can or should be despite the economic environment.

Sometimes they do not know because they are just too loose, ignorant or lazy to take the time to find out and so are flying their business somewhat by the seat of their pants.

Or sometimes they are measuring so many things that they are lost and confused in a maze of numbers and analysis which is often not used correctly; and sometimes they do not know the KEY or principal numbers of their business because they are measuring the wrong things.

Whatever the reason for the lack of intimate knowledge there is really no excuse that will stand up under scrutiny since it is crucial to the success of any business to know “how to keep score” and “what the score actually is”.

To illustrate, I am reminded of a certain business (no names to protect the innocent?) that was involved in a B2C service industry. They were doing okay but nothing like what they could be doing and they weren’t sure where things were going wrong.
After some analysis we identified a range of issues. One that I want to discuss for the purposes of this article is the metrics they were keeping around their sales process. It was very revealing.

In essence they were only keeping statistics of the number of quotes they did that converted into sales.
However, clearly this is not the total picture of the sales cycle for this or indeed for any business.

What other aspects should they have kept statistics on?

Well, for a start, they needed to know:

• How many incoming enquiries (phone or walk-ins) were occurring each day/week.
• How many of these were “price shopping” (how the business was handling the “price shopper” is a whole other discussion – and, by the way, they were NOT doing it well).
• How many enquiries converted to appointments to quote on site/present.
• How many quotes converted to sales (business written).

As the company began to keep details of the number of incoming enquiries it became obvious that they had an issue that until this point had gone undetected.

Paul, what issue was that you ask?
Well, traditionally, they had a 85 per cent or better conversion rate of quotes/presentation to sales (business written). However what they did not know was that they had a shocking conversion ratio of enquiries to appointment to go out on site and quote/present/close the business. In fact it hovered around 20 per cent.
Of course, for a number of years the business owner did not know this because he was not keeping records of the number of incoming enquiries.

He was under the false assumption that the business was doing well because of the appointment to sales (business written) ratio being 85 per cent or better. The sad reality was that, yes, they were doing well with one aspect of the sales cycle, but they were letting themselves down badly through ignorance of the front end of the sales cycle (number of incoming enquiries).

Once the business owner grasped this it was clear that we needed to develop a script (yes, all successful businesses use scripts) for their receptionist so that she could properly qualify an enquiry and improve the conversion ratio of enquirer to quote (or better still firm booking to do the job).

As a result of these important tweaks in this franchised business they went on to boost their revenue by some 20 per cent of their year-to-date sales within the four weeks subsequent to implementing the new and simple systems. Read that again just to make sure you got it.

Yep, a 20 per cent increase in YTD sales within a 4-week period.
This story illustrates the importance of knowing the key numbers in your business, otherwise you are in danger of making decisions based on false or at best inaccurate information. (Now I know we don’t have perfect information but you certainly don’t want to sabotage your efforts through sloppy business practices do you?)

So your homework/take away from this article should be to ask yourself:

1. Am I sure that we are measuring the right things to get the right result?
2. Are we covering all CRITICAL elements of the business process in question?
3. Are there too many or too few dials (metrics) that I am monitoring and can I simplify the business “dashboard”?
4. Are my staff aware of what the key metrics are and why I am measuring them? (If not why not? Perhaps you need to run a workshop to educate them further on these issues.) Need help?

Then this is a shameless plug … give us a call to discuss your requirements in complete confidence.

So, as you start the new financial year, I encourage you to take a good long and hard look at your business and the metrics you are keeping. Do they need refinement or tweaking to adjust to new market conditions?

I can’t stress the importance enough of thinking deeply and carefully about these questions and your answers and then having the presence of mind to act quickly to ensure that you and your whole team are suitably educated and aware of how and what it means to keep score in your business.

Hint: Done correctly this will help further align your individual staff goals with the corporate goals and objectives to maximise the synergy and effectiveness of achievement.

Can I build your list for you?

Wed, 17 Feb 2010 07:42:00 GMT

We all know how important it is to have an email list for internet marketing right?

How would you like to have thousands of other people building your list for you?

Well, normally that was impossible... until NOW!

I want to GIVE you a FREE website that will also get other people to build your list for you! It's a VERY powerful concept - go watch this quick video ( 2-3 minutes) to see how it works:

http://bit.ly/cuk0o3

Thanks again
Paul

P.S. - I've never seen a listbuilding tool this viral before. I still can't believe he isn't charging anything for it.

Monkey’s Are Paid Peanuts!

Sat, 04 Oct 2008 03:43:00 GMT

What about You?

This week I have been sorely troubled by conversations I have had with business owners and retired business owners regarding their businesses and their return on investment on their businesses and their other investments.

With the world financial market’s being impacted day by day with developments in the USA it is topical to talk about return on investment.

One retired business person I’ve spoken to has seen over 50% of the initial capital he invested 18 months ago vanish in unrealized losses. To say he is not happy is an understatement. And yet I am sure that others would have their own stories to tell.

It’s not my intent to preach doom and gloom but rather to make the important and yet often overlooked observation that with the promise of greater returns also comes a greater risk.

The risk vs. return equation is one that investors overlook at their peril.

That said different individuals have different risk profiles or tolerances.

Also let’s understand that as a person’s financial literacy improves what used to be risky (due to lack of understanding) becomes less risky and/or more tolerable because one has the financial literacy to make informed decisions about one’s financial affairs.

What about you?

Here’s a couple of questions to mull over.

How would you characterize your risk profile?

Do you consider yourself financially literate?

If not are you willing to educate yourself so at least you can ask informed questions of your advisors and make intelligent choices?

Do you have good financial advisors on your team as part of your personal and business wealth creation plan? If not why not?

But I digress…

Back to the main point of the article.

Here is a challenging some might say confronting question:

What return on investment are you currently achieving from your business?

What is your hourly rate of pay? (Your weekly wage/Average hours worked per week)

Is it 10%, 20%, 30% or more on your investment?

Given the commercial risk and the effort that you put into your business what do you think it should be?

If you said at least 25-30% or more you would be on the money.

If you said, or worse still are accepting less from your business you are doing yourself a disservice.

You have a choice

1. Continue as you are – earning peanuts (not good)

2. Engage external assistance to review where your business is at and map out a roadmap for the way forward (This is one of our specialties – we can do a comprehensive Business Analysis to identify, locate and retrieve untapped profits from your business)

3. Activate your exit/succession plan (you do have one don’t you?) and invest the proceeds into suitable investments and fund your lifestyle from the cash flow generated from the investments.

Please do take a moment to consider your current situation. Continuing to do the same thing over and over and expecting a different result is the definition of insanity.

The good news is there is hope.

You can take positive action to achieve a better return from your business.

Don’t procrastinate and put it off.

You may be coming into a busy period and that is all the more reason to ensure your business is running optimally so you maximize your return throughout your busy time.

Don’t fall into the “fuzzy thinking” of I’m too busy, I’ll wait till after Christmas, since in our experience if your business turnover at least $500,000 p.a. it will probably cost you at least $250 - $500 per day in profit leakage from your business everyday that you delay in taking action. (Larger/Smaller businesses will typically have profit leakages that are multiples or pro rated respectively).

Do the sums for your business – what does that mean for you?

To find out more drop me a line at PeanutsNoMore@rightteam.com.au

Property Prices

A sensible look at the future of real estate

When it comes to prices, we forget (or ignore) the obvious. We forget that the value of an asset should sensibly be measured by what that asset can pay us. It's called dividends. Yield.

For property investors, that means rent.

It doesn't make sense to invest in assets that pay small (or near-zero) dividends.

Oh, don't be silly, say the modern investors. "These days, we invest for capital gain not yield."

Well, that's just an admission that we've all lost our senses.

If the reason we buy something is because we think fools who've lost their senses are going to come along and pay us a bigger price at a later date, we are truly fooling ourselves. At best we are high-risk gamblers. At worst, we are complete mugs.

Jonathan Pond author of Your Money Matters writes,

"Any property that is selling for much more [italics added] than seven times the annual gross rental is probably not going to be a particularly good investment."

So, grab your calculators and work out your own investments or the investments that some spruiker is trying to sell you. Guess what? It doesn't make sense, does it?

Extracted from recent article by Neil Jenman.

To read the full article go to http://www.jenman.com.au/news_article.php?id=244

Wise words in challenging times

In times like these it’s good to heed the counsel of great minds. John Templeton, who lived to 95, is one of the most famous investors of all time. He said:

“We have never been able to predict business cycles and we have never been able to predict stock market cycles… and we have never found any person whose predictions on this are right more than 60% of the time. But we say to our clients, “Don’t worry about it. Prepare yourself. You know there’s going to be a bear market. And you know there’s going to be a business recession. You just don’t know when.”

And:

“You prepare yourself psychologically so you don’t get so frightened at the wrong time that you sell out foolishly. So if you are fully prepared and know you are going to live through bear markets and recessions, you can regard them not only without worry, but also as opportunities…”

I find these words extremely comforting in these present volatile times. What about you?

Searching For Greater Productivity?

Sat, 20 Sep 2008 01:00:00 GMT

How stressing less (not more) will help solve those complex issues

Dr Archibald Hart, Clinical Psychologist says, “we live in a body that responds to stress and a world that produces it. The potential for stress is all about us – in our friends, families, work, in every part of our life. Our bodies are intricately designed to respond to stress in such a way as to help us deal with it, at least initially….Whenever we are threatened physically or psychologically, a chain of responses is set in motion to prepare us for what has been described as the “fight or flight” response. Behind it all is [the] adrenal system with its complex assortment of hormones.” ¹

So what you say – there’s no earth shattering revelation here.

Let’s examine this a little further.

The adrenaline that is released into our bodies to prepare us for action required by the stressful situation causes our blood pressure and pulse rate to rise. So while there is nothing wrong with short bursts of adrenaline response it is the constant, relentless state of pressure with its resultant continual hormonal high that has serious effects on the cardiovascular system.

But here’s the kicker…..

Adrenaline rush even in short bursts, will cause an equal and opposite reaction in the body, known as “post-adrenaline depression”. Symptoms include irritability, negativity, weariness and fatigue. (hmmm….sound familiar?) This reaction is a “friend” to the body.

What is needed is recovery time…time to relax or chill.

Do you give yourself time to recover…..or do you keep pushing yourself and wonder why your body is not keeping up?

The danger is that because of the adrenaline induced high you feel good (perhaps even very good) & so you find yourself saying “This can’t be doing me harm. I feel so good.”

The key is to understand what your body doing and what it is telling you. You ignore its messages at your peril.

Hart suggests five steps to managing stress:

1. Find a sensitive method for monitoring stress levels e.g. take your pulse rate, check hands to face to see if cold (often a sign of stress)

2. Think conservation. Put adrenaline-lowering strategies in place in your life e.g. always build in rest times after very active times.

3. Learn some relaxation techniques

4. Set boundaries on your life so you are able to say “no”.

Tip: So your family or personal time does not get eroded by other pressures put it in your diary just like you would that important business meeting. Then stick to it.

5. Improve the quality and quantity of your sleep, preferably – for most people – eight to nine hours. [And if you snore like a freight train…do yourself and your partner a favour and see a sleep specialist for a check up as sleep apnea may be the issue and getting it addressed may save your life. Trust me I know from personal experience!]

When are you the most creative?

For some it’s lying in bed at night, or in the bath or shower, or perhaps on the golf course or out on the boat fishing.

Ever wondered why that is?

Well there is a Law known as the Yerkes-Dodson Law (developed in 1908) which states that:

At low adrenaline arousal we are not very effective in action but very good at thinking creatively;

At medium arousal, we become more effective in action and less in creative thinking;

At high arousal, our efficiency in both action and thinking drops off again.

Tip! Visually picture a “bell curve” with the horizontal axis being “arousal” & vertical axis being “performance” and you’ll get the idea.

So another good and very practical reason to lower your stress levels is so that your creativity (that’s best ideas; solutions to that complex business problem etc) will flow.

The time you take out to “chill” may be the most creative that you have.

Warning: Initially you might get a little frustrated that while you are trying to rest lots of thoughts come to your mind. Have a pad & pen handy – write them down & store them for later action. Resist the temptation to run off and begin immediately without giving yourself time to rest or enjoy.

¹ Dr Archibald D Hart, Adrenaline & Stress, Nashville, W Publishing Group, 1995

Adapted from How to Survive and Thrive As A Church Leader, Nick Cuthbert, Monarch Books Oxford UK, 2006

Do you enjoy reading Your Business?

If yes, you may like to subscribe to our BizSense E-Newsletter by going to

www.rightteam.com.au and then click on Subscribe to Newsletter

Check out the September 2008 edition here.

http://www.rightteam.com.au/BizSense%20E-Newsletter/archive/Sept2008

The content is highly relevant to business owners – although as you will see it is different to what you will see in Your Business.

I like to refer to it as your monthly dose of “business vitamins”.

Check it out and see for yourself.

Win A Dinner for Two (2) at a flash Restaurant of your choice – no matter where you are located

Every time we do business with someone you refer us to you will receive a $120 GIFT Voucher. So for example, if you refer 3 business owners and we do business with two (2) of them, you will receive two (2) Gift Vouchers of your choosing.

Printed Advertising Directories

Sat, 13 Sep 2008 09:36:00 GMT

Getting a Better Bang For Your Buck

Over coming months you will have the opportunity to confirm your advertising intentions for the 2009-2010 Yellow Pages Directories.

Many businesses literally waste their money and the Advertising Consultants for these printed directories become the people that they love to hate.

If you feel this way it’s probably because you:

· Are taking advertising space to keep up with the Jones’ (i.e. your competition). There is a myth that the bigger the ad the better the response. This is not necessarily true The reality is the bigger the ad, the more profits that the Printed Directory make, after all they are essentially selling space.

· You know that you are getting some response from the ad but are not sure how much and what it’s worth to your business

· It may have crossed your mind to not advertise in the Directories but thoughts of business and financial ruin flash through your mind. Remember the “not happy Jan ads”

· You have not been happy with the content of the ad but have not known where you can go to get professional copywriting assistance.

So what can you do about it?

I am not saying for one moment that you should definitely not advertise in a printed advertising Directory. Although for some businesses it may well be a waste of time and money. This should be assessed on a case by case basis.

12 Steps to Getting More Bang For Your Buck from your Printed Directory Ad

However things you can do to get a better response if you choose to make a printed Directory a part of your marketing plan:

1. Make sure your advertising has a benefit driven headline

2. Make sure that your advertising contains benefit driven copy

3. Make sure your ad tells your potential customers what they need to do next (don’t assume they know what to do)

4. Consider offering an appropriate incentive for those that buy from you as a result of the ad

5. Make sure you are tracking the responses (you need appropriate systems in place in your business to do this so you can make informed choices about your return on investment)

6. Don’t assume the advertising Consultant is the best person to advise you on the content/layout of your ad. Remember they are selling space and they want to make their jobs easy.

7. Don’t fall into the ego trap of having your company name up in lights as the major focus of the ad. It may do your ego good but let’s face it; your customers in reality care little about the name of your business. They care a LOT about the result (benefits) your product/service provides.

8. Remember that your ad is your salesperson in print. You would not send a sales rep into the market place with the company name, phone number and a couple of bullet points about your product or service features and expect them to write business. Don’t do it with your ad

9. Don’t listen to your mates in the office or down the pub – yes it’s true they’ll have an opinion if you ask…but opinions are like armpits everyone has at least two and they don’t necessarily smell that good J

10. Get professional advice from a business coach/consultant with knowledge of copywriting (that’s me) that can help you write an ad that will improve your response rates & ROI.

11. Ensure that your Directory Advertising (or indeed any marketing that you do) is a planned, coordinated part of your businesses overall marketing plan. (After all you do have a marketing plan – don’t you?). If not well….you really are leaving your business success to chance and should consider asking for help.

12. Speak with the team at www.youronlinecommunity.com.au to discuss how they can complement your Printed Directory Advertising. (And for the cynics out there…..The Right Team does not receive any payment to promote them to you)

Do you enjoy reading Your Business?

If you do you may like to subscribe to our BizSense E-Newsletter by going to

www.rightteam.com.au and then click on Subscribe to Newsletter

Check out the September 2008 edition here.

http://www.rightteam.com.au/BizSense%20E-Newsletter/archive/Sept2008

The content is highly relevant to business owners – although as you will see it is different to what you will see in Your Business.

I like to refer to it as your monthly dose of “business vitamins”.

Check it out and see for yourself.

Win A Dinner for Two (2) at a flash Restaurant of your choice – no matter where you are located

Every time we do business with someone you refer us to you will receive a $120 GIFT Voucher. So for example, if you refer 3 business owners and we do business with two (2) of them, you will receive two (2) Gift Vouchers of your choosing.
Read more www.rightteam.com.au/ReferandWin

Reaping the Harvest You Have Sown

Tue, 09 Sep 2008 07:21:00 GMT

The importance of sowing, reaping & having a purpose

Have you ever felt like life, work and business is just “more of the same” dull, routine and lacking in the challenge, excitement, mental stimulation and purpose that you know deep down inside that it should have?

Or perhaps you feel like there must be more… and you think to yourself

Yes my business is providing great products and/or services to my customers;

Yes my employees enjoy being part of my team and we have fun together,

Yes I am making a good living from what I do

Yes I have the respect of my peers and the community in which I work and live

Yes….(you insert what applies to you and how you feel deep within)

BUT there must be more!

Well the good news is there is more.

It is true that as a business person you have the awesome privilege and responsibility of serving your fellow citizens and in exchange for that you receive money or some other form of compensation.

As a result of the commercial success that you achieve you have the opportunity to choose how you will act, live and contribute to the benefit of society overall.

CHOICES

You can be like a reservoir that has been permanently plugged so that the water is stagnant and cannot flow to surrounding areas

You can be like a mighty river flowing rapidly and irrigating the low lying lands along its path bringing essential nutrients and clean fresh, life giving water in which the fish and wildlife flourish.

In other words, the blessings and commercial success that you enjoy and the consequent positive impact on others can be inadvertently stopped much like the reservoir – where the water stopped flowing and became stagnant or you can purposefully choose to impact the lives of others.

I trust that you will choose to purposefully impact others with whatever it is that you do.

In recent times I have found myself challenged greatly in this area and want to encourage you, my fellow business person or employee to be grateful for the many blessings that you enjoy each day (for example, Hey you’re alive and above ground…..it’s gotta be a good day hasn’t it?).

I find it refreshing to think about what opportunities might come my way today to brighten the life of someone I may meet even if fleetingly and to do it without any expectation of a return.

I can guarantee that if you will take your focus off yourself and your own problems (yes it’s true we all have them) and look for ways to brighten the day of someone else, then life will take on a new perspective - one of anticipation of the good that’s going to happen to day along with the pure joy of giving or helping cause you can and want to.

I encourage you to try it…..

You’ll like it…and you’ll find that a sense of life giving purpose will be restored to your soul – which in turn will restore a sense of life and purpose to all you do.

At this point I can hear someone say, “That’s all well and good Paul, but isn’t that insignificant in the scheme of things?”

No my friend, it’s not. Especially to the person that is on the receiving end of what we might call your random act of kindness. For them it will be hugely significant even though they may not tell you so.

Now, for the cynics reading this I want to be very clear.

I am not saying that you cannot live a great life and enjoy the fruits of your labor through great homes, cars, boats, vacations or whatever is your thing.

However I challenge you not to live a purely self-indulgent lifestyle. After all you can’t take it with you. (The Egyptian Pharaohs’’ tried with all their buried treasure only to have it stolen by grave robbers)

You can live well AND be a blessing to others AND increase the family/business fortune so you can continue to give and give and give.

Seems contradictory doesn’t it?

Yet if you think about it we all know this principle from farming.

If you sow tomato seeds you know that you are going to get a crop of tomatoes (not bananas). If you don’t sow, there will be no harvest.

Each seed will reproduce after its own kind.

So…the question is what sort of seeds (financial, relationship etc) are you sowing?

Or perhaps even better

What sort of harvest are you expecting? And is the seed you planted in alignment with the harvest you want?

You cannot expect to sow one type of seed and get another type of harvest.

That would be against the laws of the universe established in the beginning.

And don’t make the mistakes of

Only sowing to get a harvest. (It is not unreasonable to expect a harvest but it should not be your only motivation)
Expecting the harvest before its time. (Imagine planting tomato seeds today and running out tomorrow expecting your crop. Ridiculous.)
Don’t forget to look after the seeds – watering them and keeping way the worms of negativity, doubt and fear.

Hmmm…still not convinced…..

Let me change pace and bring into focus the application for your business.

If you are not getting the harvest of sales and profits that you want from your business then you need to consider the quantity and type of seed you are sowing and where you are sowing them.

For example:

Need more customers? What marketing seeds are you sowing?
Need better sales conversion rates? What sales training seeds are you sowing?
Have staff issues? What sort of seeds are you sowing?
Have productivity issues? What seeds of reward for effort are you sowing?

You can apply these principles to all manner of business processes with a view to identifying and addressing the core issues.

Remember to say that you know and yet do not DO, is to really demonstrate that you do not really know.

Are you getting the harvest you want from your life and business?

If not then perhaps it’s time to take a good hard look at the seed you are sowing before it’s too late.

To that end you may want to check out our

Profit Opportunity Wealth Calculator

Go to www.rightteam.com.au/pow and follow the instructions.

Now for a laugh:

A thief in Paris planned to steal some paintings from the Louvre.

After careful planning, he got past security, stole the paintings, and made it safely to his van. However, he was captured only two blocks away when he ran out of gas.

When asked how he could mastermind such a crime and make such an obvious error, he replied, 'Monsieur, zat is ze reason I stole ze paintings, I 'ad no Monet to buy Degas to make ze Van Gogh'.

.... and you thought I wouldn't have De Gaulle to send this to you! Well, I figure I had nothing Toulouse.

Smile!!

Method In Madness

Tue, 09 Sep 2008 07:27:00 GMT

Those of you who have visited JB Hi-Fi may question how we can equate systems with the chaos in the typical JB store.

David James’ BRW article on JB Hi-Fi innovation published last month captured their systems with words and phrases such as:

The very antithesis of bling
Authenticity Unique Handwritten signs
Fittings are gone
Designed our own look and feel
Yellow for CDs, purple for DVDs blue for games
A lot of science
Go in for one product and come out with six
Retail is not about one thing we do better—it is a combination of a whole lot of little things we do well

And what do you think their biggest challenge is? Here I will quote again:

Systems! ‘That is senior management’s biggest challenge. The threats to retailers come from within, not without.’

Does JB have a system? Sure they do. we would call it "chaos by design".

When we get our systems right we start to get traction towards our vision. The apparent chaos of a JB store is subjected to continuous incremental system improvement.

Method In The Rhythm

There is rhythm to the system in the huge retail warehouses used by Ikea. Pristine displays with carefully coded order tags allow us to take delivery on the spot then take these great value flat box furniture products home with us. Once home the clear instructions and simple design allows us to complete the redecoration process with a minimum of tools and expertise.

What a contrast to the cluttered chaos of a JB Hi-Fi store!

These are two extremes of system design chosen to illustrate that success can come in many system designs. The key is that it is by design. It does not happen by chance.

Have you obtained the benefits from having good formal systems in your business? These include:

Peace of mind
Team motivation
Ability to have time off—for everyone including the boss
More profit
Less waste
Better sale value of the business
Happier team/customers/clients/suppliers/bosses/owners.

So why wouldn’t you? Too hard perhaps?

Well now there are no excuses because we has got a system to help you be more systematic.

Why don't you call us 1300 66 44 89 (within Australia) or drop us a line by email

WIN A Dinner Out For 2

Those that know me well know that we like good food.

So for all the “foodies” or if you just want an opportunity to have a romantic meal with your special someone, well this could be your opportunity.

All winners will have receive a $120 gift voucher for use at the Lagoon Seafood Restaurant; Addison’s Shellharbour or a restaurant of your choice

What Do You Have To Do To Receive Your Gift Voucher?

All you have to do is provide us with the name, phone number and email address of one or more business people in your sphere of influence and if as a result of us talking with them we do some business together – then you will receive your Gift Voucher for a lovely meal with our compliments. A tangible way of us saying thank you J

Let me be clear. Every time we do business with someone you refer us to you will receive a $120 GIFT Voucher. So for example, if you refer 3 business owners and we do business with two (2) of them, you will receive two (2) Gift Vouchers of your choosing.

So get cracking and Refer and Win by completing the simple webform here J

Integrity

Thu, 28 Aug 2008 22:22:00 GMT

Relevant in Our Throw Away Society?

Integrity is defined by the Macquarie Dictionary as 1. honesty, uprightness; 2. the condition of being whole; 3 perfect condition

In the context of business the first meaning of honesty and uprightness is perhaps the most appropriate and well best known or understood.

However, in our throwaway, disposable society it is my observation that many individuals (& therefore the businesses run by them or the boards they sit on) adhere to relativistic value systems) have their own definition of what is or is not a matter of integrity or honesty to suit the “economic or commercial imperatives” of the company.

What about you?

Do you have a fluid (dare I say corrupted) idea of what is or is not a matter of integrity in your business (& indeed your personal) life dealings.

At this point I expect that you are nodding your head in heartfelt acknowledgement that whilst you are not a “saint” it certainly is not your intention or desire to conduct your business dealings in a manner that lacks integrity.

Fantastic

And yet let’s consider the broader issue.

In a society that more and more does not want to accept any standard of absolutes and therefore accepts relativistic standards we are bound to encounter challenges because if everyone is doing “right in their own eyes” and not following some immutable standard what happens when person/business A defines honesty in one way and person/business B in another.

Clearly there are going to be issues.

These issues will span the spectrum and business and personal life.

For example, let’s do a reality test:

When you say you will ring someone back – do you? Or is that your way of just getting “rid” of the person.
When you are negotiating supplier or customer contracts do you look to negotiate a genuine win/win or do you give that concept lip service because you really believe that for someone to win the other party must lose (and well that’s not going to be you!)

Yet have you considered that your view of the world may be incomplete.

Instead of having thinking bound by scarcity which in essence reinforces the win/lose concept there is an alternative way of thinking – “abundance thinking”.

Abundance thinking in essence reinforces the view that the desired cake is not a

fixed size (meaning if I get a bigger slice, you get a smaller slice) rather we can grow the cake (so that we can all get a bigger slice of a bigger cake).

How do you approach you business and life in general – with scarcity or abundance mentality?

When you promise your kids that you will be at their sports carnival and then some business matter comes up….what decision do you make?

But you don’t understand Paul, that business meeting was REALLY important….uh huh…what about your family or loved ones aren’t they important also?

Yes I know this is confronting and yes it does take some intestinal fortitude to ensure that you keep the commitments made to yourself, your family as well as your business. It should not be a case or one or the other….I did not say it would be easy….however it is possible.

If you have supply contracts in place and are the supplier….do you deliberately invoice your customers at prices above the agreed supply contract knowing that they are busy and perhaps don’t have the internal controls in place to check all supply invoices against agreed contract prices?

If you quote jobs do your quotes include prices for “A” quality or genuine parts when in fact you have every intention of supplying non-genuine or “A minus” quality parts? What’s the problem you ask – they still meet or exceed specifications. If that’s your rational lie, I mean rationalization then you really are walking around in the fog of self-deception. The issue here is what did the customer pay for and what they are expecting versus what they will receive.

I can here someone say, “Paul, you’re not being reasonable; you don’t understand how competitive our industry is?”

Competition is not the issue. Integrity is and I dare say that there are strategies you can employ that will enable you to keep your contract, your customers and your integrity.

In fact if the only way you can do business is “without integrity” then I would not want to deal with you. And if a particular industry is so corrupted that it does not generally recognise integrity or ethics then you either choose to maintain your integrity in face of adversity (what a great USP) or you get out and find a better industry and business.

6. Do your management team and staff recognise you as a person of your word?

If not why not? Perhaps there are matters of integrity or broken promises that cloud their view of you and your business.

7. If you supply goods/product by weight are your scales (or other measuring devices) accurate and regularly tested so that customers are not overcharged?

So how did you go? (or if you are an employee – how did your employer go?)

Are there management or business practices in place in your business or place of work that are commonly accepted and which you know if you apply an objective standard of integrity fall short of the mark?

If there are what will you do about it? And when?

Will you allow it to continue unchallenged and by default become an accomplice or will you stand up for what is right and challenge the status quo (being wise as to how this is done of course)?

Finally, for the skeptics – this matter of integrity is not about being moralistic. If you think that you have missed the point. For my part it is about doing what is truly right – not just right in your (my) own eyes and being willing to be held accountable.

Accountable to whom – well at the very least your business partners, customers; suppliers and employees.

Why you might ask? Well that’s a whole other story…yet suffice to say, I believe that one day we will all be judged eternally according to what we were called to do and not just what we did/did not do and let’s just say that this judge has laser clear focus and no trouble cutting to the heart of the matter. For my part I want to make sure that I am ready. What about you?

Your Help Needed – Success Oriented Sales People Sought

If you are (or someone you know is) success and results oriented sales person with experience in making B2B sales in the SME business sector then this may be the challenge you are looking for.

You will be responsible for managing the complete sales cycle through to the initial sale.

The successful candidates will be well versed in consultative B2B sales with key decision makers in the SME business sector with turnovers in excess of $1 Million p.a.

If you enjoy helping people, have an “abundance mentality”, are self motivated, ethical, disciplined (as you will be working from home), success oriented, have your own phone and car and would like to be part of a growing team that assists SME businesses identify and retrieve untapped profits, sales, cash and productivity from within their businesses then this opportunity may be for you.

Positions with flexible working hours/days (to accomodate those that want to work during school hours) are available for the right people in the following areas:

Northern Beaches

Parramatta – Inner West

Hills District

Sutherland Shire

Illawarra

Southern Highlands (Bowral, Moss Vale, Mittagong)

Shoalhaven

ACT

To arrange a confidential chat in the first instance, email salesperson@rightteam.com.au with your name and contact details & your professional profile or call me direct on 0413 266 515 this Wednesday between 3 & 5 pm or Friday (between 7 am & 9 am) .

Remuneration is structured to attract the best. with on target earnings in excess of $230K p.a. (or pro rata if working part-time).

Are You Protecting Your Business?

Thu, 28 Aug 2008 22:13:00 GMT

I can almost see you nodding your head and saying well of course I am, Paul.

However it’s my observation that as business people we can become myopic in our focus and not seeing things that clearly need attention for the health and well being of the business.

Sure they may not be pressing or urgent but their impact on the business can be catastrophic if something were to go wrong or indeed if these areas are left unattended.

What do I mean you ask?

Well let’s take for instance the areas of the security of your buildings, equipment, cash valuables, business records and theft.

Are you sure you take appropriate measures to protect your business against these risks in the course of running your business?

Why don’t you print this article now before reading further and circle one: YES NO

Or perhaps you have become complacent. YES NO

Well now let’s do a reality test and ask you some practical questions.

Have you had security experts assess the security of your premises recently?
Do you, at regular intervals, inspect the following:
- Fences
- Walls
- Doors\
- Locks
- Windows
- Skylights
- Roof
Have you installed an alarm system?
IF YES, do you test it frequently?
Are rear doors locked between deliveries?
Have you recorded the serial numbers of all valuable equipment?
Have you marked all valuable equipment?
Do you have a safe?
Is it correctly installed?
Are combinations changed when staff with access leave the business?
Do you store the combination off site in case of fire etc?
Do you precisely who has keys to your office/shop/factory?
Do you replace locks when any keys are lost, or employees holding keys leave?
Are all your staff handling money trained in appropriate routines?
Do all your staff know how to handle cheques?
Are your money handling functions performed away from public gaze?
Do you bank cash frequently?
Do you vary the route and time that you/your staff go to the bank?
Are all your vehicles secured?
Do you remove expensive, valuable items from windows at close of trading?
Have you checked your insurance policies to ensure they give you full coverage?
Are your premises well lit at night?
Are your staff trained what to do in case of armed robbery?
Do you have nominated staff responsible for night locking up?
Do you store important legal papers off site, or in a secure appropriately rated fire proof safe?
Do you store computer records off site, or ins suitable fire proof safe ( for paper and disk/back up tape)?
Do you ensure important working papers are shredded or destroyed beyond readability before being disposed of?
Do you back up your computer records at appropriate intervals?
Do you store back ups off site?
Have you issued instructions to staff concerning safety of records during emergencies? (fire, flood etc)
Do you know what records should be kept by law and for how long for taxation purposes?
Do you make all employees aware of their responsibilities as far as theft is concerned?
Do you conduct security checks on job applicants for employment?
Do you ensure staff don’t take home stock without paying?
Do you monitor sample stock and manufacturer’s gifts?
Do you record lent items to employees?
Are you sure that staff don’t pocket cash register “over rings” or surplus petty cash?
Have you established a system of internal controls?
Do you check outward delivery dockets at irregular intervals?
Do you watch for “friends” in the business?
Do you check you rubbish bins for “stolen” merchandise?
Do you irregularly check employees’ personal packages on leaving your business premises (being mindful of their rights and your rights)?
Do you have shoplifting problems?
Do you ensure that your front end is always staffed?
Do you have mirrors to help staff see hidden corners?
Do you have anti-theft signs around the store?
Do you lock, chain. Secure small expensive items?
Are all entries and exits covered by staff or closed with fire escape locks?
Are your staff aware of how to (or not to) apprehend shoplifters?
Do you check price tickets to ensure they are firmly attached?

How did you go?

Did you do as well as you expected or worse? Would you change your initial answer that you gave before reading the questions?

If you did what are you going to do about it?

Who in your business will be responsible to undertake a review and get your procedures up to date and by when?

These questions are an extract from one small section of the Business Review Checklist that The Right Team Business Growth Specialists has available for use with our clients.

Other areas that are covered include: You, Your Trading Structures, Your Legal Matters, Your Employees, Your Product, Your Marketing, Your Advertising, Your Selling Techniques, Your Image, Your Records, Your Financial Matters, Your Overhead Expenses, Your Taxation and Your Future.

So if this article has been eye opening for you and you would like to have a conversation for possibility concerning your business send an email to businessreview@rightteam.com.au or call 1300 66 44 89.

Your Help Needed – Success Oriented Sales People Sought

If you are (or someone you know is) success and results oriented sales person with experience in making B2B sales in the SME business sector then this may be the challenge you are looking for.

You will be responsible for managing the complete sales cycle through to the initial sale.

The successful candidates will be well versed in consultative B2B sales with key decision makers in the SME business sector with turnovers in excess of $1 Million p.a.

Positions are available for the right people in the following areas:

Northern Beaches

Parramatta – Inner West

Hills District

Sutherland Shire

Illawarra

Southern Highlands (Bowral, Moss Vale, Mittagong)

Shoalhaven

ACT

To arrange a confidential chat in the first instance, email salesperson@rightteam.com.au with your name and contact details & your professional profile or call me direct on 0413 266 515 this Wednesday between 3 & 5 pm or Friday (between 7 am & 9 am) .

Remuneration is structured to attract the best. OTE in excess of $230K p.a.

Getting From There to Here

Thu, 28 Aug 2008 22:07:00 GMT

The Impact of Your Thoughts, Words & Actions

Paul Harvey tells a story of a young artist who had just been commissioned to paint a portrait of a local builder. The artist was so excited, feeling so good, since it was his first major commission. He went down to his favorite café to enjoy a glass of wine & celebrate. While sitting there, he looked over a saw a newspaper lying in a chair at the next table. At the top of the front page in bold letters were the words “Hard Times Are Coming.” The more he looked at it the more uptight and worried he became.

The restaurant owner came by in a moment and said, “Shall I get you another glass of wine or something to eat?” “No,” he said, “Just bring me my bill. I must go right now.” The owner replied, “Is something wrong?” The artist said, “Hard times are coming, and this is no time for me to be frivolously spending my time and money. I must get to work.”

The artist left and the restaurant owner began thinking, “Hard times are coming?” And the more he thought about it, the more uptight he became. He picked up the telephone and called his wife and said, “Sweetheart, that new dress you ordered for the annual banquet is awfully expensive for something that you are only gong to wear once. I believe hard times are coming, and maybe you should call them and put the dress off for now.”

She reluctantly said, “Well, all right.” So she called the local dress shop and said, “I know you’ve already ordered the material for my beautiful new dress, but my husband said that hard times are coming and we need to pull in our purse string s and be more frugal. I’m going to have to cancel the dress.”

The proprietor said, “Well, I certainly hate to hear that but I understand.” The dress shop owner began thinking about it and the more she thought about it, the more uptight and worried she became. She called her local builder and said, “I understand that hard times are coming. It’s a bad time for me to be doubling the size of my dress shop. I can’t take on that type of obligation right now.”

The builder thought about what she had said. And he picked up the phone and called the young artist. He said, “Hard times are coming and this is no time for me to be spending money on a portrait. I’m going to have to cancel it.”

The young artist understood. It was just what he had anticipated. Feeling rejected and sorrowful he went, you guessed it, down to his favorite café to drown his sorrows in a bottle of wine.

As he sat there drinking he looked over and in a chair about ten feet away he saw the newspaper with the headline that said, “Hard Times Are Coming.” He walked over, picked it up and examined it very closely. The dateline was ten years old. Someone had left the newspaper their when they were unpacking dishes for the restaurant.

The thought that the headline conveyed had infected the thinking of many in the community. They began preparing for the worst for no real reason at all, except that they let their unfounded negativity create an undesired reality.

The preceding story is about the power of thoughts in your life and how your thoughts, words and actions bring the reality of your mental world into your physical world.

Thoughts, words and actions are like powerful magnets that attract the circumstances of your life.

To create the future you desire you must start by controlling what you think. Your thoughts lead to words spoken and result in actions (including the action of inaction)

It’s a bold yet true statement that your thoughts, words and actions are the root causes of problems you may be experiencing or of the successes you may be enjoying.

That’s why your greatest return on effort comes from learning to control your thoughts.

You choose…whether to employ faith filled thoughts, words and actions or fear filled thoughts, words and actions.

Faith or fear? What will you choose? Both are creative forces and in fact are opposites of one another. In other words fear is “negative faith”.

Not convinced about the power of your thought life? Let me put it to you plain and simple.

Companies (perhaps even your company) are spending large amounts of money to produce advertising campaigns that will influence our thinking. They would not do that if they were not getting a return through influencing people’s thoughts and subsequent (buying) actions. [Of course it’s another matter entirely as to whether that return is being optimized – and that’s one of the areas The Right Team helps businesses in]

You may have heard the saying, “People often buy things they don’t need with money they don’t have to impress people they don’t like.” Sad but often true.

People who are centered and in control of their thoughts, think before they respond. They deal with the negatives of life while they are in snowflake form and never let them turn into a snowball or avalanche. They in effect fire a small retro-rocket, make necessary adjustments, and move on with their life. They quickly get back on course.

They don’t let negative thoughts turn into big negative circumstances.

What about you? What do you do?

From There to Here

Most people in life seem to be trying to get from “here to there”. They may not even really know where “there” is (big problem), but they feel they will be happy, peaceful. successful and prosperous when they get “there” someday.

Yet an important principle to recall is:

Regrets keep you in the past
Desires keep you in the future

To fully live “now” one must be fully “here”, fully in control of your thoughts with a positive expectation that something good is going to happen TODAY, in your life, relationships and business.

I am not taking away from the need to plan and make informed business decisions. However it is critical to your overall success in life and business as to what you believe, think about and inevitably act upon.

This is even more so the case in times of rising home ownership costs and fluctuating consumer sentiment and…

What will you choose to believe, think about and act upon?

Are Hard Times Coming?

Will you begin or continue to succeed and thrive no matter what others (media, RBA, Federal Reserve; Government, unions, petrol prices etc) say.

“There is nothing so wretched or foolish as to anticipate misfortunes. What madness is it in expecting evil before it arrives.”

Lucius Annaeus Seneca

Time Management:

This is an issue that we all have to get a grip on. For my part I have found it very helpful to recognize and accept that I cannot manage time. I can only manage my activities or actions that consume time as it passes.

Therefore it can be extremely helpful and more logical to break your day down into something you can control – your own activities.

For some the subtlety of the difference may be sublime, however it is very important.

Think you’ve got it all under control – take our Stop Procrastinating Quiz

by visiting http://www.ribi.biz/quiz/procrastinate/DoYouProcrastinate.htm

How’d you go?

Good, better or worse than you thought?

If you could recover 1 -2 hours each day what would that mean to your life? Your business?

Could you get another sales call in? Or would you go home and see your family at a reasonable hour? Perhaps even have dinner together instead of eating alone? Or maybe even get to see the kids sporting or school events instead of always making excuses about how you have too much to do…and well of course you are really doing all this for them!

Remember, if you keep doing the same thing over and over and expect a different result…..it is insanity.

So….how about being real with yourself….pick up the phone and call 1300 66 44 89 (within Australia) or + 61 2 4297 5305 to book a confidential conversation for possibility – we have proven systems that will help you manage your time better.

Are You Working Too Hard For Too Little Return?

Thu, 28 Aug 2008 21:58:00 GMT

Small Business Survey Results

The Right Team, Business Growth Specialists is a member of the Results in Business Institute (RIBI) - a network of independent business coaches and consultants in Australia and New Zealand. RIBI provides member coaches with world class tools, systems and programs that I use to structure and guide my coaching or consultancy work with our client family.

There's a point to this, trust me. RIBI conducted a survey in 2007 of more than 300 businesses across Australia and NZ and I thought I would refresh your minds on the results – since I believe they are still relevant.

The survey highlighted how tough some small business owners are doing it and how many of us are paying a high price for our independence.

More than 60% were paying a staff member more than they were paying themselves and more than 60% felt their salary did not justify the time and effort they put into running their business. This was despite more than half being tertiary qualified and more than half having spent money on self improvement or business training.

The three top issues for business owners were:

1. Finding, motivating and retaining staff
2 Cash flow
3. Marketing / finding clients

Ross Hancock, the CEO of RIBI was quoted in the press as being shocked but not surprised at the results of the survey - "many business owners are not really reaping the fruits of their labours when they have to factor in the high costs of just being in business"

If this sounds like you - you are not alone! That's not much consolation, I know but it perhaps tells you that you are not necessarily completely incapable - it really is difficult.

Now some of you may have spotted this coming but...................a business coach will work with you to find a way to change this (that's me!)

OK, sales pitch coming, block your ears if you don't like them.

The Right Team, Business Growth Specialists uses the proven and excellent business management systems from RIBI to coach small to medium business owners to improve their business's performance. We focus on the drivers of profit - that's Turnover (sales and marketing), Productivity (your effectiveness, your management and the process and systems in your business) and Costs (cost of goods and overheads).

We'll work with you to make change within your business and we'll focus our attention on those areas.

Coaching only works if you want to be coached and if you want a process and a person to hold you accountable for making the changes in your business, so only call me if that applies to you

I will give you a free 1-hour coaching session if you call me on 1300 66 44 89 or reply to this email - I try very hard to add value in these sessions and you are not obliged to take me on as your coach.

Email me on paul@rightteam.com.au

Referral Request

As a small business, operating locally, The Right Team Business Growth Specialists, like many other businesses, is keen to grow.

Over the last two and a half years or so I have been writing Your Business column weekly and my desire has and will continue to be to add value to my fellow business owners. I want to thank the those of you that have provided feedback throughout this time either via email or when we’ve met in person at networking events in the Illawarra, Sydney, Parramatta or beyond.

Your feedback is appreciated and helps me to judge whether I am hitting the mark.

That said I understand that you may or may not be considering working with a business coach right at this moment.

Some of you may even have had a less than satisfactory experience with a business coach. Just don’t make the mistake of casting aspersions on “all business coaches” as that would be faulty thinking. After all pick any profession you want and we all could name professionals we trust and would recommend, along with those we would prefer were no longer in business.

So as an encouragement to consider coaching, I'm offering a free coaching session so you can try it out (see the sales pitch above)

If you're not considering it, you might know someone who is or who could benefit.

Please pass this article on to them and encourage them to take up the offer of a free session - it really is free and I really try to help them out. Or, send me their details and I'll ring them to explain myself and who sent me to them.

The type of businesses that benefit most are:

keen to grow or change
already have a good business and you want to make it better
prepared to invest in that growth
ready to use external tools (like coaching) to help them achieve their goals
and finally...able to afford it!

Next week:

As a business owner you are (or at least should be) rightly focused on getting (good) a return on investment (ROI) from your business activities.

So I will be sharing an insightful story around why your greatest return on effort (ROE) comes from learning to control your thoughts.

For the moment I’ll leave you with this quote,

“We make the world we live in and shape our own environment”

Orison Swett Marden

20 Great Customer Service Replies

Thu, 28 Aug 2008 10:36:00 GMT

Don’t let your staff inadvertently torpedo sales opportunities

You can make sure that this doesn’t happen to your prospective customers by getting your staff to understand that customer service is not a department but an attitude.

At any time of year poor customer service is inexcusable. It really ticks me off. However when the economic times are tight, some might say tough – well it can be absolutely disastrous for your cash flow and profits.

Here are a few winning expressions which, when uttered in a genuine way, will build the positive feelings that prospects might feel about your business. Why not go through the list and identify the ones that you believe have application in your business and industry. Then, get the staff to begin using them … maybe $2 as an on the- spot reward from management to encourage their use will get the program off to a good start.

1. How can I help you today?

2. I’m happy to do that for you.

3. What is most convenient for you?

4. I’m sorry there is a problem. We’ll make it right.

5. What do you think would be fair?

6. Is that all right?

7. Let me make sure I have this correct.

8. Thank you for being so patient.

9. I’ll get right back to you.

10. We value our customers’ input.

11. I’ll pass your comments on.

12. Let me find out for you.

13. I know exactly what you mean.

14 Would you like me to review anything with you?

15. Absolutely!

16. You’re welcome.

17. Do you have any questions?

18. I’ll take care of that right away.

19. Is there anything else I can do for you?

20. We appreciate your business. Please call again.

Without doubt, the right response from your staff can convert prospects into customers and can keep customers coming back!

And just to make sure you have somewhere to go with this issue,

here’s a customer-service checklist you might like to adapt to your circumstances.

ü Smile before answering each call.

ü Greet the customer warmly. Give the name of your company or

department followed by your name and a cheerful “How may I

help you?”

ü Listen attentively without interrupting.

ü Write down important information. Double-check phone numbers

and spelling of names and addresses.

ü Summarise a customer’s question or complaint to make sure that you heard it correctly.

ü If a customer has a complaint, apologise sincerely for the

inconvenience and work to fix the problem.

ü Let the customer know about special offers or bargains.

ü Speak clearly.

ü Ask if there are any questions or anything else you can do.

ü Close with a genuine “Thank you for your call” or “Have a great day!”

Final point: Get staff to appreciate that every customer deserves the best, for they are either buying from us or educating us – or both!

A “Must Ask” Question For B2Bs

How can we work with you to assist you to sell more?

For business-to-business suppliers this is a great question to ask of your customers –

Formally this is called “partnering” … I simply call it “smart business”, because in doing so, both businesses (yours and your client’s) can have greater leverage in the marketplace.

Now here’s where the “rubber hits the road” if your are a supplier when was the last time you asked your customers this question?

I suggest that you start with your top 30% of customers by dollar sales value. Of course I recognise (& so should you) that a customer that is not yet in your top 30% may just need a little nurturing and assistance. The offer (& follow through) of assistance from yourself may be just the thing that will get you a greater share of their business.

Now I recognize you may not have the resources or expertise to assist your top 30% of customers in this way. The good news is The Right Team does. Call or email us to arrange your confidential discussion. T: 1300 66 44 89 (within Australia) E: partnering@rightteam.com.au

Are You A Market Maker OR Market Follower?

Thu, 28 Aug 2008 10:20:00 GMT

The Importance of the right mindset is critical to your success

How’s your business confidence?

Does this excerpt from a conversation between two business people (BP1 & BP2) sound familiar to you.

BP1: How’s business?

BP2: Ok, but you know it’s a bit quiet at the moment

BP1: Really? Well you know we’ve found the same….

BP2: Is that right. Funny you should say that, everyone I talk to is saying that business is a bit quiet….

Do you recognise this conversation?

Perhaps you were either BP1 or BP2 somewhere, sometime recently.

Regardless…stay with me…there is a major point to this article.

Both BP1 & BP2 are in danger of missing an opportunity and just being market followers.

Why? Because they are receiving signals from the market place that may or may not be accurate or relevant.

What do you mean Paul?

What I mean is this.

Sure it’s important to keep abreast of what’s happening in the economy locally, statewide and nationally and sure it’s important to get a sense of how others are doing…..

However if that is the extent of your market and competitive analysis and associated planning then you are kidding yourself and consigning your business to less than optimal performance.

You may ask, “Aren’t you being a bit harsh Paul?”

Well frankly No!

Consider these matters:

Even if BP1 or BP2 know each others industry or even businesses intimately it does not necessarily qualify them to diagnose issues with the level of business that each is obtaining.

Given birds of feather flock together – it’s hardly scientific to base any form of decision making on a straw poll of limited sample size from within your own circle.

On closer inspection the rationalization behind conversations like the one between BP1 & BP2 that are happening all over the country is that everyone likes to feel that they are “normal” and that what they are going through is “normal”. In essence people and companies that do this are market followers.

Hello, wake up…

If “normal” means underperforming, with lack luster sales and profit figures or even average or good – who wants to be “normal”? Not I and I hope not you.

I trust that you will aspire for your business to be exceptional rather than settling for mediocrity or worse.

If you want to be an effective “market maker” it’s CRITICAL to protect your mind and attitude because they will, whether you like it or not, have a direct influence on the sales and profitability of your business.

Market Makers have the courage of their convictions and often act in ways that are counter-intuitive or counter cyclical to the general market. They promptly and fearlessly make decisions recognizing that they need to keep moving – after all a fast moving target is harder to hit.

You can choose to be an eagle who soars high above the clouds (of circumstances) or you can continue to cluck around with a lot of other “turkeys” who validate their lack of performance through excuses and blaming external factors (e.g.: the upcoming Federal election; rising interest rates and changes in business or consumer sentiment).

Did you note that even in nature both the “turkeys” and the “eagles” are subject to the same external factors (wind, rain; drought etc) however the eagle is much better prepared because it can, among other things:

See for long distances – even at night
Take advantage of wild wind currents
Move and adapt quickly to changes in the environment
Enjoy the freedom and security that others only wish for

Whereas the turkey:

Has functional yet limited vision
Is largely earth bound
Is (compared to the eagle) unable to move with great speed
Is unable to soar above the clouds and so is subject to the brunt of the weather & surrounding circumstances
Is relatively easy prey (good eating) for others on the prowl.

There is much more that could be said about turkeys and eagles and what we can learn from their respective characteristics. I encourage you to take some time and think through the analogy and how it applies to your business.

How would you honestly categorize your business – turkey or eagle?

How would your employees categorize your business?

Are the two answers the same or different?

And if your business is a turkey that dreams of being an eagle – what are you going to do about it and when?

Of course if your business is a turkey and you are comfortable that it’s a turkey – well that’s ok – just don’t kid yourself that you will enjoy the freedoms and benefits of an eagle.

Finally, I like learning from the lessons of others who have been successful. One such fellow is an interesting character called Vince James. To find out more click the following link

http://www.paulwright.biz/recommends/lessonsfromVincentJames

Oh and for a bit of fun I recommend the following two movies

The Devil Wears Prada
The Last Holiday

Apart from the entertainment value of both movies, it was great to be able to find a movie that I could watch with Reina that we would both enjoy. Guys, you know what I mean, some chick flicks just don’t do it for me – however with these two movies it was different. And for those of you that can’t switch off from work then if you follow the movies carefully there are some great underlying messages such as the application of the “Book of Possibilities” from The Last Holiday. Everyone, including your kids should have one of them!

The Art of Negotiating (Part 6)

Thu, 28 Aug 2008 10:13:00 GMT

An Attitude of Heart

Throughout this current series of articles I have written you about some of the mechanics of the art of negotiating.

As a quick recap, to date we have covered:

Myths About Negotiating
Characteristics of Good Negotiators
The Importance of Structure
Who’s Got the Power
Games People Play

While each of these is important, there is another area that is often overlooked.

That is the attitude of heart of the negotiator.

What do you mean, Paul? I hear you ask.

What I mean you need to examine your heart attitude as you approach the negotiation.

Stay with me…this is important.

You can know all of the things we have covered to date in this article series; however, if your heart attitude is not right you will not optimise your results.

Yes I know that for some of you….this does not compute.

For you negotiating is all about how you can get the best deal and while you may give lip service to the concept of WINI WIN…..in reality it’s all about you, your business and what you want.

“Hey wait a minute Paul….that’s not me”, I hear you protest.

Well let’s find out shall we.

Right now….take 10 minutes to do the following:

Step 1: Identify the last six (6) deals you negotiated

Step 2: Review each deal and ask yourself if you truly believe the outcome was a

genuine WIN WIN for all parties.

Step 3: If they were great!. If they weren’t what about the deals would need to be
different for them to be a genuine WIN WIN?

Step 4: What will you do differently in future deals with those parties?

The point here is to value the relationships and the people you are doing business with.

After all PEOPLE do business with PEOPLE on behalf of their companies.

Don’t become so blinded to what you believe are the economic imperatives that you forget to take account of the other party to the negotiation and what they want.

After all, you should be in business to DO BUSINESS.

This really is a matter of heart.

Unless you are a psychopath you cannot fake this. It will come through in your voice (words and tonality) and your body language.

Are you looking for a quick “buck” and to “screw” people into the ground? Or are you looking for sustainable long term relationships?

If you are really looking for sustainable relationships, then you actions will demonstrate this.

Make it a habit to listen to what people say and then watch the direction of their feet.

Are their words and actions congruent? Or incongruent

Are you words and actions congruent? Or incongruent?

What are you going to do about it?

Now this isn’t the full story……you see for people of FAITH….there is another dimension we can rely upon.

“What do you mean Paul?”

Well, talking straight, what I mean is that as a Christian, I see Jesus as the senior partner in my business(es).

I invite and look for his input into my planning, decision making; marketing; strategising and in fact, all areas of business.

I believe this gives me a competitive advantage in the market place; after all I want to make sure that I do business with people of integrity.

I look to discern this. I look for the opportunity for God to give me insights into my client’s businesses and lives.

In terms of negotiations, God can give his servants discernment, through the operation of the gifts of the Holy Spirit of what the real, perhaps unspoken wants, desires, motives, drivers of the other party are and how to best to structure an acceptable WIN WIN.

(Or to not do business with that party for such and such a reason).

After all, as sons and daughters of God we are called to be leaders in our respective spheres of influence.

If you are Christian reading this – may it stir up the gift that is within you so that you may stand up and be counted, rather than being a spectator.

If you are reading this and don’t understand matters of faith or perhaps are atheistic or agnostic then you have a choice to make. You can continue down the path you are on or you can begin to consider that the God whom you don’t know or believe in – is actually interested in you, your challenges, hassles, hurts, the pressures you are under in business.

You cannot sit on the fence. Not making a choice is choosing to not make a choice.

You may recall the classic Chris De Burgh song from the 1980’s “Don’t Pay the Ferryman”

“Don't pay the ferryman,

Don't even fix a price,

Don't pay the ferryman,

Until he gets you to the other side;

Don't pay - the ferryman”

In terms of your soul and your eternal destination the negotiations have already been concluded.

The terms of the deal have already been cut on your behalf.

You can choose to be party to the deal that has been cut on your behalf (by Jesus) or you can choose to pay yourself (not recommended, yet it is your free will choice)

What will you choose?

How will you choose to pay?

Accept that Jesus paid the necessary price on your behalf, or
Pay yourself

I encourage you to seriously consider your decision. It is the biggest DEAL of YOUR LIFE.

For some this may be confronting…….

So be it.

After all my clients value my input into their successful businesses because they know I don’t mince my words. I tell it like it is both in terms of business matters as well as matters of faith.