Executive Advisory Services

Anyone that knows me understands that networking is a large part of my life. Since joining BNI (Business Networking International) I have learned many concepts and remember many more. I want to share some experiences from January and the teachings of Dan Rawls.

Dan sees the world differently than most of the people I know. He see opportunity to network in every advertisement, business card fish bowl, promotion, feature, billboard, bus stop bench, vehicle with a company’s name and contact information on it, in every conversation (ski lift, waitress, bus boy, neighbor, etc.), in fact, I consider him a networking blood hound.

After teaching some of his networking vision to a group of Salt Lake City business people we had lunch with him a few days later. As we were leaving the restaurant, one of the members of the group noticed a drawing to win a free makeover (Mary Kay) and a flyer for a local storage facility. Immediately the new sense of networking kicked in and the hunt was on.

A hands free call was made with a group of about 5 individuals on the phone calling the storage facility. They learned the flyers were left there by the former managers, and an invitation was extended to meet up with a realtor and a contractor who might be able to refer business to the storage facility (neither the realtor nor the contractor were present).

As Paul Harvey used to say, “Now the rest of the story”. The person who answered the phone immediately sent her husband to the restaurant to replace the flyers with updated flyers. The husband also showed up at the meeting (BNI chapter) the very next Thursday, explaining that his wife had sent him to check it out. He showed up the next week also, “Just want to check it out, one more time.” At the end of the meeting he submitted an application, not because he received a referral, but because he saw the value based on the referrals being passed and the value of thank you notes turned in.

This was just one of many similar incidents during the 10 day period that he was in town. The process was repeated and repeated successfully. Why? Dan Rawls looks to find referrals for the people he knows, connecting them at a time when he knows they will be present (a BNI meeting), never telling the prospective referral about BNI.

The motto of BNI is “Giver’s Gain”; Dan Rawls is a living example of the concept.

Now you have a choice, pretend you did not read this and continue life as normal or begin to open you referral eyes and look at your surroundings with “referral intent.” Do you have the courage and tenacity to change?

Dog in many vernaculars has derogatory however to me it is 100% positive. How can I say that? I have used DOG for years as an acronym for Detail oriented Guy (or Gal). The highest comment that can be given a business person is that they are a DOG.

So why is being a DOG a good thing in business? What is so important about being detail oriented? It is the details of almost any business transaction that provide for customer expectation being exceeded, employee expectations being met, contracts being acceptable or not, project completion dates being met or not, and so on.

A couple of real life examples:

Vendor - Customer

A vendor and a customer had been dealing with each other for a number of years on a variety of products and projects. The accounting became very confusing due to volume discounts, contract incentives and returns. Finally, it was agreed that they would come to an agreement to the balance as of a date certain and settle all accounts, before moving forward. The vendor presented the customer with open balance to which the customer quickly agreed. A formal agreement recognizing the outstanding balance was prepared by the vendor, signed by both parties and money was transferred,

Some months later the vendor discovered that an invoice had been “missed” in a significant amount. Approaching the customer to pay the “missed” invoice the agreement was used successfully to dismiss the invoice. It was clear that the vendor lacked DOGs on their side and the customer had DOGs on their side (the ethics of the situation not being addressed).

Employer – Employee

An equipment dealer was strapped when a mechanic located in a remote service site suddenly quit. The dealer had options look for a qualified employee in the remote site or move an existing employee from corporate. Employees were approached regarding relocating. One agreed to relocate with the understanding that they would be the shop manager and receive a significant raise. Exact dollar amounts were discussed but never put onto paper.

After receiving his first full paycheck in the new location his calculation of his pay did not match his expectations. Upon inquiry he was told that they could not give him the raise they had discussed but something smaller. Again, ignore the ethical issues, if one or both parties had been DOGs a clear understanding of the arrangement would dispel future troubles.

There is a downside to DOGs, they tend to be methodical and tenacious, pressing all around to understand and live by the details, sometimes spending vast amounts of time to understand the implication of situations. The upside is that they can save employers vast amounts of time and money, can exceed customer expectations and make you, the company look great.

You may be one of the business owners that seems to be chasing the dream that “I will do that when I have time.” You may also be in an industry that is experiencing financial difficulties (to put it nicely) and are doing more because you can’t afford to have the large staff, one man (woman), fifteen jobs.

STOP

You need to account for the time that you have. How are you using it, no, I don’t want an estimate of where your time has gone, I want an accounting, just like you woul epect from your attorney or accountant. Where, why and how much time are you spending doing what you re doing?

NOW

Ask yourself the question, “Am I doing that which matters most?”

How To Get There

1. Follow the advise contained in the article that can be found at: http://ezinearticles.com/?Time—The-Entrepreneurs-Friend&id=3123140 - Track your time for two weeks and be honest with yourself.

2. Make a “What Matters Most” list - This isn’t a To Do List, these are the things that have to get done today. Make it at the end of your day for the next day, review it before beginning the next day, making appropriate changes.

3. FOLLOW THE LIST -

4. If interrupted determine if it belongs in front of What Matters Most, if it does, do it, if not, don’t.

5. Immediately go back to the list.

6. If you have employees, stop answering there questions directly. Instead ask them what they would do if in your shoes? You will teach them to come to you with solutions, instead of problems. Be patience it takes time to change from the controlling boss to the boss who will listen and guide to a possible solution. This will save multitudes of time over the years, if performed correctly. The other benefit I have seen are business owners who can take real vacations without receiving a constant barage of cell calls or messages.

 “In the old days, people were required to observe a day of rest at the end of each working week. This day, known as the Sabbath, was used to relax, connect with family, enjoy personal hobbies or pursue spiritual activities. As a result, workers would begin the new week full of energy, zeal, and conviction, ready to face the challenges their jobs would inevitably provide. Sadly, this tradition has been passed over, for most people and hard-driving executives believe that nonstop work routines are the only way to get to the top. It is only when they are afflicted with ulcers, migraines, and early heart attacks that they wake up and begin to change the way they work and live. Unfortunately, by then it is sometimes too late. Believe me, my friend, I’m speaking from personal experience.

"So what I’m suggesting," continued Julian, "is that you designate a period every single week for some serious personal renewal. Time spent recharging your batteries is never a waste but a necessary aspect of any peak performance routine. Recreation is about re-creation. Time spent on genuine recreation makes you stronger, smarter and a better leader. Abe Lincoln captured the essence of what I am saying when he remarked, ‘If I had eight hours to chop down a tree, I’d spend six hours sharpening my axe.’"

Excerpt from:  Sharma, Robin. "Chapter Ten - The Ritual of Self-Leadership". Leadership Wisdom From the Monk Who Sold His Ferrari: The 8 Rituals of Visionary Leaders. Hay House. © 2003.

David G Thompson, Coach

801-938-6965

Posted via email from easi’s posterous

The truth is that what we think about our product or service and its value means nothing. The only thing that matters is what our prospects or customers think of our product or service.

I was in a coaching session early this week, part of the group provided a service for the rest of the group. The “customer” (internal customer) expressed a needed to the provider and very logical reasoning. The provider began to give excuses, I stopped him saying “I don’t care what you think or feel, your CUSTOMER is telling you what is needed.” The provider tried to offer an excuse, again I shut him down. It is so rare when we get feedback from customers to immediately provide an excuse is a sure way to convince the customer that you don’t care.

Drucker suggests that we ask yourselves three follow-up questions:

What do our primary customers and supporting customers value?

What knowledge do we need to gain from our customers?

How will I participate in gaining this knowledge?

David G Thompson, Coach

801-938-6965

Posted via email from easi’s posterous

Business Destroying Mistakes 

1. Business owners who don’t have a compelling Vision
2. Business owners who don’t have a Specific Target Market
3. Business owners who have Wrong expectations
4. Business owners who have no mentor and/or a lack of accountability
5. Business owners who have a lack of self and professional development
6. Business owners who don’t network
7. Business owners who don’t offer the right Products or Services
8. Business owners who refuse to change
9. Business owners who have the wrong people on their team
10. Business owners who don’t have the proper financial ability
11. Business owners who have not defined what Success really looks like
12. Business owners who wants to do it all because nobody does it as well (can’t pull themselves out of the day to day fires)( who THRIVES/brags about - 60-70 hours pre week)
13. Business owners who are bullies
14. Business owners who doesn’t need a business plan or budgeting process
15. Business owners that doesn’t understand the importance of being found online.
16. Business owners that can’t explain why they’re different than the competition.
17. Business owners who blames others (i.e. employees, partner, contractors, family, etc.)
18. Business owners who are not honest
19. Business owners who know everything
20. Business owners who are successful to early (sometime goes with the above)
21. Business owners who doesn’t know what functions need to be performed for success
22. Business owners who will not communicate
23. Business owners that don’t have any systems in place or never develop them
24. Business owners who don’t have great advisors (financial, tax, estate planning)
25. Business owners who don’t survey customers to insure that customer expectations are being met
26. Business owners who think that think they will ever treat their customers better that their employees
27. Business owners who do not have the ability to create opportunity for good employees

This list is in no way complete, merely the most common that we see.

Subscribe to the Executive Advisory Services monthly newsletter http://bit.ly/YOPii

Visit our website http://bit.ly/bqE52

Find a Licensed Professional Business Coach in your geographic area - http://bit.ly/PBCA_Find_A_Coach

David G Thompson, Coach

801-938-6965

Posted via email from easi’s posterous