Monthly Archives: April 2016

Great Leadership Quotes from Tom Brady

 

Good leaders get inspiration from a number of areas, some from popular books or Blogs, and many from everyday people.  I wasn’t planning on focusing on Tom Brady this week but the news cycle and Mr. Goodell convinced me otherwise.  Here are a few quotes from a leader I draw inspiration from that easily apply to what we are all trying to do, Quarterback a winning team.

Tom Brady on;

 

Excellence  –

I don’t care about three years ago, …….I don’t care about two years ago, I don’t care about last year.  The only things I care about is this week….

Focus & Execution –

If you don’t play to win, don’t play at all

Strategic Planning –

You want to know which ring is my favorite?  The next one.

Organizational Effectiveness –

Every quarterback can throw the ball; every running back can run; every receiver is fast; but the mental toughness that you talk about translates into competitiveness

Personal Leadership & Prioritizing –

I always try to do as much as I can do.  I’m never the person that does not enough, because I’d regret not doing enough and think I probably could have done more.  I probably go too far and then have to reel myself back in, which works in some things, and in other things, it doesn’t work….

Communication –

If I have to say something, I want it to be meaningful.

 

Any great quarterback can be used for this analogy, and I am admittedly biased for TB12.  Leadership is found in all shapes and sizes.  Using quotes from sports figures  resonates with staff better than quoting Maxwell or Covey, so perhaps these may help you.

C.S.Simon Consulting recognize the challenges to get everyone on your team to contribute to a common goal.   Focus, Execution, Planning, Communication, Prioritizing and Mental toughness are skills your people may need developed to achieve the goals.   Developing individual leaders with in your staff is an investment in your business and doesn’t need to be costly.

Consultants Tip –  I challenge you give on the spot feedback to someone demonstrating leadership by an action or behavior.
Few things are as appreciated as recognition & a “high five.”

Management has a tendency to focus on people’s errors.  While that is needed, it is also to spend dedicated time of finding an employee do something right.  Many explain they don’t have time to do that.  Positive reinforcement reduces turnover and decreases productivity lost during recruiting and onboarding.  From a financial perspective you are much better off developing a culture of Leadership in your staff (who then train other staff) then having a “revolving door” policy.  Wouldn’t we all like to have a Tom Brady on our staff? Where would Tom be without his coaches?

         Carpe diem!

 

Suppy & Demand’s role in Strategic Planning

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A question was submitted to address-

“…how to assess and compensate for Supply & Demand in a small business?”

Supply and Demand is one of the necessary factors a business needs to aggressively monitor due to its direct correlation to the businesses ability to generate revenue.  Supply & Demand is one of the 5 key components we look at when assessing the “Products Pillar” of any business.   While  the Laws of Supply & Demand would be considered economics and financial planning(most of which I place under the Operations Pillar), most of the control an organization has over it aligns with its products designs and features.

For example creating that “uniqueness” in your product line is one tactic you can Strategically Plan to increase the Demand for your product.

First some background – This question originated from a M.O.R.E Assessement ©  Our firm refers to the “4 Pillars of M.O.R.E.©” (Products, People, Operations, & Marketing) that all businesses need to generate revenue.  Depending on the scale or scope of your business and industry the method to assess each of these can range widely, but the importance of each of these Pillars is a constant.  When they work together, you generate more revenue.   So, assessing and developing each of the “Pillars” is vital  to develop your businesses ability to create revenue, so these 4 areas are always our starting point for assessments.LearnMore-Blue-Primary-16

 

Assessing Supply & Demand for your Product

Many businesses utilize purchased Business Plan tools (templates, software) or SWOT/PEST analysis methods when determining existing competition and direction, which is an important part of assessing Supply & Demand.  While these are good tools, they can become easily biased by whomever is completing them.  I have read many SWOT analysis that simply don’t represent Threats or Opportunities with in a company well.  Thus if a SWOT is the only format used, it can lead to poor or unwise strategy and false outcomes.  I always recommend more than one set of eyes create/debate outcomes when using this type of assessment.  I DO think they are valuable tools and our firm uses them, but in conjunction with other tools.

The process we tend to use frequently is referred to as a “Market Study”.  A Market Study is an in-depth, qualitative analysis process which employs many tactics.  Each “Study” is a relatively custom designed because every organization or brand is unique.  Brand development differs in every organization based on resources, skills and leadership. When performing a Market Study, the process is gathering information from key representatives of every key constituency possible that may create, utilize or experience that business product.  Perceptions are confirmed about the product/companies current and former character and user, and enough data is gathered to support future direction. Using an organizations vision and mission needs to be a focal point.  A Market Study provides holistic data (internal & external) to help answer: What niche(s) could the organization occupy and what is distinctive about its positioning?  Where as a SWOT is merely a component of a Market Study that is generally produced internally.  While there may be overlap, it is not as thorough.

Surveys are used in most Market Study’s and are an excellent way to collect data on a variety of topics and also works well for supply and demand studies.  A properly designed survey has the demographic data, customer preferences, and motivators data needed to help position your products correctly.  C.S.Simons Consulting performed a Survey in 2015 to determine why people hire a consultant, which significantly improved how and who we speak to.  Click on the Survey link to take our brief Survey!

Benchmarking is also a recommended step in a Market Study and involves competitive data and interviews to discover strategies or missed opportunities of similar businesses. Properly designed conversations will provide significant information you can use for Supply & Demand assessment.   Generally both companies gain from the experience and can also lead to improvements in Cost Containment & Labor Optimization.

Territory is another key consideration when determining Supply & Demand.  What is the radius for your product appeal ? (assuming a physical address).  This changes radically by product or service and by industry, but the key is to understand buyers preferences and motivators as it relates to what you sell.  How far will they go to find us?  While it sounds obvious or easy, it may not be.  The second part of that consideration is how many like “you” are there within this radius?  Competition is good to an extent, but how do you determine over-saturation?

Quick example;

Many people want Bankers, Lawyers, or Accountants close to where they are located but won’t think twice about traveling for a specialty doctor or upscale retailer.  Determining if you are a basic service or destination service in the mind of your customer is key to knowing the radius they will travel to give you their money.  Of course, the farther they travel the higher the expectations and the more you risk if they are unsatisfied.  But, most will easily justify spending more if you are a destination than if you are basic.  (Law of Supply)

How to compensate /correct for Supply & Demand deficiencies?

If you don’t have….

Location, Location, Location,

you need

Marketing, Execution, and Follow up

Marketing – Customers need to know  either 1) your name or where you are  AND 2) why they want/need you.  Tactics and Campaigns will come and go, but to maintain customer Supply & Demand, Marketing professionals may be your best bet.

Execution –  What ever the Marketers are saying you “do” or “sell”, you better make sure the people your customers encounter in your business or products they buy from you,… do it.  If you say you have great customer service, you need to make sure they encounter Excellent service, if your marketing says your product will help them loose weight or look sexier, it better or else it will effect your Demand.

Follow up – No matter what you sell, if you have customers, you should ask how they liked the product.  The number one thing you need to do once they have purchased something, is to get them (or their referrals) to come back and buy more!  I recognize this can be more difficult depending on what you sell, but the fact remains that you need feedback to help determine if you are executing what your Marketing says you are.  No feedback or not even asking for feedback can be very dangerous.

  • Ever go to a local restaurant where the food was so-so(or worse) and no one ever came back to ask “how is everything?”.  You leave less than impressed. Has your likely hood of recommending or returning gone down?  Maybe. But what if you traveled an hour to go to this restaurant you “heard about” and had the same experience.

What is your likely hood of going out of your way next time to return? 

There goes your Demand

 

Key times to RE-ASSESS your Supply & Demand

It’s important to note that Supply & Demand is just one of the 5 key factors our company looks at to assess the Product Pillar for revenue generation and therefore not the only consideration when assessing your products design and strategy.  Reviewing the Supply and Demand for your organization/product can be done at any point of the business life-cycle.

Key times to do this are:

  • At Start Up
  • Any time your business encounters a major change like new leadership
  • When planning Expansion/Relocation projects
  • Opening new locations – know WHY they find you, don’t assume they will
  • Considering new technology implementation
  • Creating a Strategic Growth Plan
  •  If it has been more than a few since you looked at this you may want to because of the rate of speed technology changes.

Internet Marketing is radically different than it was 3 years ago, thus HOW people are finding you IS different.  The internet has shifted buyers motivations in many industries, how has it effected yours? I always have a plan in my back pocket for a sudden change in sales (+/-) and I have many systems in place to tell me where or why people are finding me.  This data is reviewed periodically and is the basis for changes in Business Strategy.  I highly recommend this be given some thought by owners and operators.  I don’t have to tell you how quickly things change and your customers needs and loyalties are changing just as quickly.

This is only the tip of the iceberg on this subject and how to use the information for product development  and building your business.  Feel free to contact me if you would like to discuss this further or if I can help guide you to some Marketing professionals I work with to help.
LearnMore-Green-Primary-16

 

Carpe diem!

Setting Expectations

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Create a Habit of Setting Expectations

Arguably the most important trait of a leader is their ability to set clear expectations. It doesn’t matter if you are managing hundreds, thousands or just your self.  Setting expectations not only involves Vision to imagine a direction, but also includes a method and habit of clear communication. Our ability to set Expectations is responsible for what we accomplish, how we are viewed, and if others choose to follow us.  Expectation setting is critical when developing your “Personal Brand” or “Corporate Brand”.  It is important when you start out and imperative for you to grow.  It is literally where Vision and Communication intersect.  They are that important.

Like many of the things discussed in our blog, Expectation setting is not only a skill but it also needs to be a habit.  The deeper this is ingrained in someone, the more “natural” of a leader they appear.  Further more, instilling this skill/habit in your staff may be the single greatest thing you can do to build your organizations ability to generate revenue!

So many I have mentored have one of the two elements of this habit.  Many people have natural abilities to either envision how things need to happen to achieve “Success” or have a gift for communicating it, getting people to practice both elements simultaneously takes time and dedicated effort but is well worth it.

Establishing this habit will act as a catalyst for your team.  If you have been looking for something to kick start your group, you may have just found it! Supervisors or Managers that develop good leadership styles and habits have much higher productivity rates and lower attrition.  Managers don’t have to be leaders, they only need to hold people accountable and make sure the widgets get made (whatever your “widget” happens to be).  Leaders don’t have to be Managers.  Leaders are found in every position, at every age and skill level.  Leadership is a skill set that can be developed and enhanced, but they are also inherent and linked to ones personal value system.  Seldom do I find organizations value their internal leaders or even recognize them to a great extent.  Management is expected to be the leadership and the two are often confused.  Yet when an organization champions this leadership habit great things can happen.

Case study-

I have had a career of working with great leaders in their field and it was Lloyd Hill who told me personally that the key to Leadership in his organization was “the ability to set clear expectations”.  Mr Hill knew that employees WANT to contribute to their corporate environment and corporate health and that giving them the tools to do so would pay off in spades for any company that could assume this as a culture.

So what did he do?

He gathered a team to create the greatest recruitment, on-boarding and training tools (and teams)in his industry.  He created systems that allowed his Operational management teams the TIME needed to Train, Instill, and held accountable the employees to the expectations set through Training/On-boarding.  When I worked for him, I literally HIRED and FIRED by the Company Core Values(Expectations).  Performance is important, but is much easier to manage a group by broader expectations setting (clearly performance IS one of the expectations, but not the only one).  Managing this way creates the best outcomes for all involved.

When performance is the only expectation, culture suffers

When culture suffers you find increased turnover, higher costs and jeopardized loyalties (Customer and Employee). But put the right PEOPLE in the system and set the expectations and you are much less likely to have to Fire them!  This was NOT what most of that industry was doing at the time(early -mid 90’s).  I left that company 20 years ago and I can still name their Core Values!

Huge Results!

When I joined the company they were an “up and coming chain” they had about 500 Restaurants Nationwide, but when I left the company just 4 years later they had nearly 1400 Franchised Restaurants Internationally and were dominating their field.  Applebee’s International (A.I.I.) was forging new ground and everybody wanted to be a part of it.  I trained teams that went to Germany, Holland, Russia and Mexico to help establish this brand and it ALL came down to Setting Clear Expectations!

 

3 Keys to Setting Expectations

1.  Decide which is the most important thing to expect
  1. This starts with Business analysis– know your business, know your industry, determine difference and direction
  2. Utilize Strategic Planning to set direction
  3. Surround yourself with the right people to contribute and execute
  4. Knowing what went right (avoid over focusing on mistakes and repeat successes)

 

2.  Look for important “Opportunities” to Communicate these expectations
  1. Internal Communications – Not just in a drink the Kool-aid meeting, insure a consistently delivered message at all levels.  Repetition, written, branding(internal marketing) “Walk the Talk”
  2. Employee interactions – Interview, orientation, Training, reinforce daily (High fives) Employee group meetings, 1:1, terminations.
  3. External Communications – Corporate Marketing,  Social Media, & Advertising

 

3.  Understanding challenges in today’s work environment
  1. Location, location, location– Which is becoming more difficult with today’s changing workplace. Decentralizing posses a particular threat for modern leaders(more on that later)
    Employees thrive in situations of clear cut, well defined expectations of outcomes, behaviors, and processes.
  2. The right people – Unseasoned Management, unaligned management and selfish management will dissolve the expectation
  3. Reputation – media – bad corporations/companies are “greedy”, YELP reviews – culture shifts quickly now and your employees have a lot of outside influences
  4. TIME to do this!   Dedicated time to communication

 

I am sure you see the motif here, to set clear expectations there needs to be a plan, a communication plan, time and accountability for the actions that people choose once they have a clear understanding of what the expectation IS.  

Tip – Always question if an employee understood the Expectation before reacting to their actions.

 

If an individual is not meeting your expectations the root cause may be that;

  1. Your message didn’t make it to this person – check training/orientation
  2. The individual understands what is wanted and chooses not to follow
               (see our Progressive Discipline blog)

If multiple people are not meeting the expectations the root cause may be that;

  1. What you communicated wasn’t clear or achievable (Vision)
  2. Your team didn’t communicate well to their team (Grapevine)
  3. People don’t agree with the message (Culture)

Back to the drawing board!

              (see our Leadership Training Seminars)

In today’s business environment it is easy to assume because you said it, people are doing it. Right?  Your the boss, you say it and they do it!

It is important to understand the difference between ad-hoc and planned communicating. Planned communicating doesn’t need to be scripted but there should be at minimum a list of discussion points to insure all have been covered.  How many times have you said “I thought I told you that”!…??  Avoid miscommunication by writing key points ahead of time and sharing those lists with the listener, they will let you know if a point is skipped. While this may seem rudimentary it WILL insure everything gets said.  Doing this at an organizational level results in increased efficiency and effectiveness which all has a significant effect on your businesses ability to generate revenue.

Carpe diem!

 

Volunteerism is Good for your Business

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Volunteering time or resources to those in need can have a profound effect on your business. This week is National Volunteer Week and we wanted to encourage anyone reading to give of yourself AND to recognize those that volunteer both for and in your organization. There are a multitude of ways that you or your company can help to those around you, and there are misconceptions around how much of your time it actually takes. People I have spoken with say they can’t give a day a week or even fixed hours every week to a cause and therefore don’t volunteer. It is not that these people don’t want to help, they just feel it may take too much from other important aspects of their life (family, work, etc). There are volunteer opportunities that can fit almost anyones schedule and the trick is to find the right ones for you.

Why to do this & How this helps a business

  1. Emotional advantages – Volunteering feels good. Knowing that what you have just done is helping someone (or some organization) work out a problem, provide services, or help someone else often provides a natural boost to the giver.
  2. Financial advantages – If you operate a business it can also help you grow. More than ever consumers support companies that support other causes aswell. In recent years there has even been a new business classification for this, have you heard of “B Corporations” (in addition to “C” & “S” “LL”corps)?  B-Corps are “profit” companies that are formed to provide a “Benefit” to a group or cause.   If your business tells people about causes you believe and support, people that believe in the same thing(s) become your marketing force.
  3. Leadership advantages – If you volunteer, people and employees around you are more likely to volunteer.
  4. Workforce development advantages – Employees like it, it makes them feel good about their place of work, which helps keep turnover down.

Hopefully many of you make it a habit to regularly thank those around you.  Thanking someone for contributions they make is the most effective way to build loyalty and recognition.  Loyalty and recognition leads to repetitive actions and isn’t that what you want from employees and volunteers?

Ways to volunteer

Church group – This one you already knew. Good people doing good work, what’s not to like.

Civic groups – so many to choose from.  School groups, town boards, faternal groups, soup kitchens, etc.  All do great work for different groups and sectors, pick one near and dear and run with it!

One time events – most fundraisers need hands and advertise for help.  For 10 years my wife and I have helped with the Boston Marathon.  It is a 6-8 hr commitment once a year.  Great fun with lots of memories.

Mentoring –  Meeting with someone periodically to help provide direction or clarify goals is needed at all levels.  Big Brothers/Sisters organizations, local gentrification/employement organizations or even through academic affiliates.  Helping someone avoid errors feels great and it is the right thing to do.  All you need to do is talk to people about something you are good at, how hard is that? Depending on your industry, working with schools/colleges on internship type programs may get others in your business involved too.  These programs are usually well organized and require a dedicated amount of time that you can plan for.

Healthcare – So many possibilities! Contact hospitals or Managed Care facilities for formal programs but you can also help by speaking to neighbors or community groups.  Do elders need rides to appointments or errands?  Meals on wheels ALWAYS needs help.  Companionship programs always need help.  There is a growing problem in many communities with funding for programs for the elderly AND a growing population of “elder orphans”.  Start asking questions and you’ll be amazed at what might be happening in your county.  Obviously there is a bit more preparedness and background checking for this option, but the need is real.  For me personally, volunteering in this area changed so much of how I looked at things.

Skill base – So many Non profits and small businesses need help.  Contact your local Charities or SCORE to see if they have a need for your expertise.  Many can use both onetime project help or ongoing access to your expertise.

Business Benefits

Setting a culture of Volunteerism in your company is shown to improve employee engagement and decrease attrition, each of which can have major economic impact to your organization.  It can also be great for Team Building.  I recommend companies that can afford to incorporate this into their Benefit Strategy as well as weaving in into your Brand Management.  Yes, there are costs associated with this and there are tax benefits of doing so.  In many cases there can be a great return on investment to the business.  If your company utilizes social media at all, there can also be great Marketing/Branding benefits of not only the company doing this but its employees also.

Example;  My wife’s company had a campaign where different departments would take a half day and go clean up a local beach or park.  They had to rent busses, pay employees, provide lunch while doing so, but it was great public relations for the company.  Employees loved doing it and before you knew it, 50 people were all using social media to tell their networks what they were doing.  Between those that saw it happening, those that were involved in it, and those Marketing it, that companies name and values had a lot of looks from this event. Good stuff!

Managing Volunteers and Expectations

As mentioned earlier, this week is National Volunteer Week.  Larger organizations may provide a lunch or dinner for the volunteer population, smaller organization may only afford coffee and donuts.  It is important to do something calling out what this group has done for you and the impact they have made for other people.  That is why most people volunteer, because they want to provide impact.  The more you can point the impact out and quantify it for them, the more likely they will continue to do so.  If they feel what they are doing is not helping or being recognized, they are far less likely to continue.  Not unlike any employee engagement.

I have always challenged my clients to manage this workforce like any other workforce they have.  Both positive and negative reinforcement is needed and managing expectations are a must.  If you welcome your volunteers to work or thank them at the end of the day, then do the same for paid workers.  If you would correct a paid worker for doing something incorrectly, correct a volunteer for the same action. I am not suggesting cracking the whip to get more productivity from volunteers.  But nearly every organization that has spoken to me about issues around “managing volunteers” doesn’t hold them to the same standards, and that is where the problems begin.  Be diplomatic, be polite, add more training time, but maintain your standards or you’ll have problems down the road.  You will be REALLY surprised what an effect this has on your entire workforce.

Tip –  Most importantly, thank them for doing something right periodically and each will be more loyal to you.

 

C.S.Simons Consulting provided over 200 hrs of skill based volunteer work last year and I hope to increase that this year.  It feels great to contribute to and build more sustainable local organizations and we challenge you to do the same.

Thanks to all the volunteers!

 

 

Succession Planning – the How, When, & Why

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All businesses will use at least one form of “Succession Planning” strategy during its lifetime.  This phrase can mean many things to a business owner.  Succession Planning  is subject to scale and scope of a business,  and like any strategy, the most effective ones are developed over time and employ specially designed resources.  Transitions are part of a businesses DNA, and unfortunately some are forced on a business before they are planned for.

One key tool to ensure business continuity and continued success for your business is a well designed Succession Plan.

Succession Planning quite simply is planning for the future and continued success of the business.  It insures the continuity of services of the business entity itself and likely includes planning with in each of the 4 Pillars we commonly talk about in our blogs                                                     (Products, People, Operations, & Marketing) . 

If a business losses ability to generate revenue due to change in ownership, loss of key people or suppliers or lack of consistency in their products, clearly it is not as successful as it could be.  Proactive management considers multiple scenarios that may effect revenue generation.  Common risks a Succession Plan identifies & addresses may be a sudden loss of a key leader, preparation for sale or retirement, or even rapid business growth.

  • In this article we provide some very brief points on questions around the most common transitions Business owners may face.  Like many of our “Conversations Series” articles this is designed only as an overview and in bullet point fashion.  Future blogs will address these points more thoroughly or please contact me if you would like me to expand on specific points.                 LearnMore-Blue-Primary-16

 

Why undertake Succession Planning-

A good “Stress Test” for small business

Business growth has determined need to document processes and business knowledge

Improper hiring practices have created a gap in culture or brand execution

 

Succession Planning is..

  1.  A Leadership Development Strategy
  2.  A Risk Management Best Practice
  3.  A Sustainability Best Practice
  4.  Crucial for Knowledge Transfer

Types of Succession Planning

  •  Strategic Leader Development (Next Generation)
  •  Emergency or Interim Management (Sudden loss)
  •  Departure Defined (Sale, Retirement)

 

When is right to plan?

  • Business/Company is financially sustainable
  • Strategic Plan/Priorities are in place
  • Leadership and Management is involved and engaged
  • Performance appraisal plan is in place (pending scale)

When is the Wrong time to plan?

  • During a sudden loss (death/medical emergency, etc)
  • Ad-hoc leadership patterns are apparent
  • When economically challenged
  • Unstable labor base (high attrition, low engagement)

As mentioned the reasons why an organization may address this depends on there specific situation and needs.  We will outline the more common areas people have asked us for help.  The most proactive thinkers look for Leadership succession with in an organization.  Others are more Risk Management savvy and want to protect against a Leadership “Emergency”.  Organizations that find themselves in an Emergency situation often look for an  interim management (Outsourced) solution so here we point out keys to consider.  Lastly many are looking for a departure plan, “how to insure the ship will run when I retire”.  Here we give tips on what to considered and plan for.  If you are uncertain what your business needs are or where to even start, please reach out and C.S.Simons Consulting will be happy to provide some free direction to get you started.

Steps for Leadership succession
  1.  Identify future goals and challenges (strategic plan)
  2. Create model of needs, competencies, skills, experience
  3.  Identify potential successors and assess individual and organizational gaps to              determine developmental needs
  4.  Create individual and organizational development plans
  5.  Measure frequently and revisit models and plans as environment and priorities       shift
Emergency Succession Planning
  1. Identify critical executive functions and responsibilities
  2. Name and train a backup for each function
  3. Ensure that key relationships and contacts are documented
  4. Create and update a binder or digital file that includes key documents such as strategic /operational plans, annual and monthly calendars of organizational activities, etc.
  5. Create a board approved policy and procedure for Emergency Succession
Interim Management option considerations
  1.   Proprietary IP concerns/Legal concerns
  2.   Affordability
  3.  Knowledge transfer/Time to proficiency- Transition production curves
  4.  Minimum contracted time?  (3 months common)
  5.  Support structure with in business/company
Defined Departure issues
  1.   What are our vulnerabilities with departure of our Executive/Owner/Partner ?
  2.   Unique skills of this person … Can they be replaced?
  3.  The “Do-ability” of their job?/ Compensation needed for replacement?
  4.   Management Team strength?  Is an internal successor ready now?
  5.   Should we Consider a Merger/ Acquisition or Restructuring?

 

How to create a Succession Plan

  1.   Identify critical positions
  2.   Identify competencies
  3.   Identify Succession Management Strategies
  4.   Document and implement plan
  5.   Evaluate effectiveness

Some of these steps may seem overly simplistic (which is why they may be overlooked).   A Succession plan may be an insurance plan that is never needed (unplanned departure) or for a certain event like retirement that everyone works to achieve.  Planning to insure there is little interruption in the continuity of business functions, reputation and revenue will positively impact your current customer base, your employee population, and quite possibly your ability to sleep at night!

 

Carpe diem!