Businesses have to start thinking outside of the box. What other goals could a company have? Goals, Coaching, Accountability & Rewards, Productivity Pyramid ® Each executive, director, manager and supervisor should brainstorm with each direct report on three to six specific goals for their area. One additional goal should be a personal goal. For instance: read books, cook, exercise, weight loss or any personal goal.
A CEO of an Employee Assistance Program (EAP) reported that 20%-25% of all people are having some life issue right now. That means many employees are currently struggling with a life issue. What I would like you to think about, is a personal monthly COACHING session with your direct reports, where the above techniques are used to improve their work situation. If monthly coaching sessions are held, how easy do you think it would be to hold an employee accountable? Much easier than an annual review.
What to increase your leadership skills?“If you expect your team to work hard and produce quality content, you must lead by example. Whatever Your Career Ambitions, Your Leadership Skills Will Be Critical”. Read the ten top qualities Bernhard discusses in his article that leaders should master. The rule of thumb is if you lose an A performer, it takes you 3 years of salary to get them back. Having goals, accountability, and rewards for your team ensures that you keep your A performers because it’s a huge expense to get another one back.
Good Leaders are Good Listeners. But to Be an Exceptional Leader, You Must Learn to Listen Differently. Philip provides insight into becoming a competent leader by learning to be an effective listener. It is important that others are being heard and understood. Good leaders need to be fully present, engaged and resourceful. Listening, it requires the ability to focus your attention and engage your intelligence to understand. Good Leaders are Good Listeners. But to Be an Exceptional Leader, You Must Learn to Listen Differently. How good of a listener are you? How good of a listener are you?
Why do many merger and acquisition deals fail? Price goes over four additional topics on Mergers and acquisitions for his readers. He notes that “All things being equal, a well-run company with a consistent method and practice for developing, maintaining and executing multi-faceted strategic plans over several periods is more valuable than those that do not.”
What is a system or process? A series of steps that detail the process for any area. Sales, Marketing, Production, Customer Service, Accounting and any department can have a system.
Unclear about how to begin to sell your business? There are three things that are very important when preparing to sell your business. Do you want yourself or your clients to achieve their valuation needs and objectives with analyses, calculations and a report that stands up in court, to the IRS, to a buyer or any business value need? Or do you want to potentially lose $Millions?
Looking for points on Customer Retention to grow your business? In his article, 5 ways to focus on the customer to grow your business Joe states, “When asked about priorities for customer engagement, CEOs cited customer service as their no. 1 priority.“
When we think of accountability, we typically think of holding others accountable. One must have an Internal self-awareness. Internal self-awareness involves understanding your feelings, beliefs, and values — your inner narrative. One must also have an external self-awareness which involves understanding how our words and actions impact others. a small shift in one’s mindset will directly impact behaviors and can have a significant positive impact on an entire team. Take Action!
If you have implemented the “80/20 Customer Gold Program ® ” then there is a specific opportunity to proactively interact with key personnel at your customer’s companies. While you interact, please ask them “Why do you buy from us?” or “Why do you not buy from our competitors?”
“This is the generation that breaks up by text message, so in a professional context, to have to let someone down or give bad news was terrifying”. A look at how job seekers are juggling multiple offers at once; creating sticky situations for all involved. How well candidates manage job offers can shape their long-term career satisfaction and their professional reputations. When getting multiple interview offers from different companies, it can be slightly overwhelming. However, it’s important that the individual attends as many of these interviews as they can to help them make their decision about which company they want to work for.
Living and Learning Under Influence can your leadership reflect a more positive influence? Pondering the capacity that we have to influence, to be influenced by others, and yet, still stand for something true, even when voices around us are pointing in another direction. To stand on pure points, the saving-people-from-a-burning-house-without-hesitation kind of pure point.
Strategic Elements Part II: Proactive vs. Reactive Customer Service | The “80/20 Customer Gold Program®” works
Which is right for you? 2 different approaches to innovation. In his article, 2 different approaches to innovation, Joe discusses ways to focus on growth, and how to determine an innovative strategy for your business. He is clued into the difference in high-growth companies that are more engaged in innovation than no-growth companies. Yet he notes that small and midsize companies don’t all approach innovation the same way. “Innovation requires leaders willing to break the status quo to build a better business. The key is to figure out which approach is best for you and your company” ~ Joe Gavin
Valuation Metrics and Performance Dashboard Elements | Elements to Increase Company Value Financially | 12-month rolling metric tracking system. It is recommended that a business valuation be done every two years. With the author’s nine methods and calculations, it can be used as a metric for management performance.
So many companies are now using invoicing software to help them when it comes to managing their invoices, but how many companies have invoices at “NET 30 DAYS” or “2% NET 10”? SECRET: Invoice your statements with the date that is 10 days from the date of the invoice. For example: if invoiced on the 1st make the due date the 11th. THEN call between the 7th to the 10th and verify that they received your invoice. These two easy steps will reduce A/R collection from 40-50 days to 20-30 days and save you one-half month of lost monthly cash flow.
A productivity improvement program (“Productivity Pyrami®”) with a pay for performance program where there are company and employee goals with monthly coaching sessions should be implemented. This method can raise company productivity by over 400% and help you get those A performers.
If monthly coaching sessions are held, how easy do you think it would be to hold an employee accountable? Much easier than an annual review.
Many CEOs have asked why a revenue-generating project with a supposed high GM, that should be making money, is actually losing money. The reason is that the CM is not calculated, nor considered in the project proposal and is lower than the GM. then a magic number happens called the Contribution Margin (CM).
A graphical representation of cash flow is one of the most important tools for an executive and should be included on any performance metrics dashboard. Financial Performance Metrics Graphs – Examples. Financial Reporting Dashboard
the Rifle vs. Shotgun Marketing® that combines industry segment growth rates and gross margin for each segment. This is to help determine the highest value segments to concentrate on with a marketing program.
