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The Big Picture of Business – Business Moving Forward From the Dirty Side of the Recession

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The economy and business climate are now on the dirty side of the recession. Recognizing the damages done results in healthier run companies for the future.

This is comparable to what is called the ‘dirty side’ of a storm, hurricane or other weather created disaster. During those clean-up periods, the infrastructure rebuilds and optimistically moves forward by correcting certain damages done by the storms.

Signs are that our economy has somewhat recovered from the second worst recession in history. Many companies kept their heads in the sand during the economic downturn, fully intending to return to business as usual.

What happened in the recession was that many businesses went under. In my professional opinion, 25% of those that faded away probably should have. A great many frail companies were not on firm foundations and had abdicated their abilities to improve and serve customer bases.

As fallout from the recession, many people were thrown into the workforce. Many fell into jobs for which they were not suited. Many downsized and out-of-work people were forced to reinvent themselves.

Many became ‘consultants’ of one sort or another. Many fell victim to frauds and scams. Services and websites sprung up to capitalize upon the avalanche of new entrepreneurs. Some sites offered the platform to become a consultant with a national firm by paying them subscription fees. The already inflated world of ‘reputation management’ websites lured people into buying advertising in order to create the facade of being a ‘consultant.’

Distinctions must be drawn into three consulting categories (and percentages of their occurrence in the marketplace):

  1. Vendors selling products which were produced by others. Those who sell their own produced works are designated as subcontractors. (82.99%)
  2. Consultants conduct programs designed by their companies, in repetitive motion. Their work is off-the-shelf, conforms to an established mode of operation, contains original thought and draws precedents from experience. (17%)
  3. High level strategists create all knowledge in their consulting. It is original, customized to the client and contains creativity and insight not available elsewhere. (0.01%)
      4. As one distinguishes past vendors and subcontractors, there are six types within the 18% which constitute consultants (with their percentages in the marketplace):

      1. Those who still lead in an industry and have specific niche expertise. (13.5%)
      2. Those who were downsized, out-placed or decided not to stay in the corporate fold and evolved into consulting. (28%)
      3. Out of work people who hang out consulting shingles in between jobs. (32%)
      4. Freelancers and moonlighters, whose consultancy may or may not relate to their day jobs. (16%)
      5. Veteran consultants who were trained for and have a track record in actual consulting. That’s what they have done for most of their careers. (2%)
      6. Sadly, there is another category: opportunists who masquerade as consultants, entrepreneurs who disguise their selling as consulting, people who routinely change niches as the dollars go. (8.5%)

      Clients are confused and under-educated, not able to discern the ‘real deal’ consultants from the hype. That is why those of us who are veterans write these articles, speak and advise on best practices. Enlightened clients hire real consultants and get great value, as opposed to companies who fall prey to under-prepared resources.

      There are five generations in workforce, more than any time in our history. Each generation has different working styles and must be considered according to their attributes. Age discrimination for workers over 40 is rampant and cruel.

      Workplace illiteracy is higher than ever before. 50% of employees in the business world are considered functionally illiterate.

      Society must not be lulled into a false sense of security right now. The recovery phase of the recession has been steady and real. Much of the damage was done and will take years to fix. This could cause the next recession.

      I believe that small business is resilient and will try its best to stay on firm grounding. Wise entrepreneurs will bring in qualified mentors, as opposed to wanna-be consultants. Cool heads will prevail, and small business will recover and prosper.

      Small business has learned many lessons from the recession. While some will still fight change and adhere to the same processes that got them into trouble, I see great opportunities for forward-focused businesses.

      Paying attention to quality can realize:

      • Lower operating costs. Research shows they can be cut in half.
      • Premium pricing for preferred goods/services.
      • Customer retention.
      • Enhanced reputation.
      • Access to global markets.
      • Faster innovation.
      • Higher sales.
      • Higher return on investments.

      The biggest source of growth and increased opportunities in today’s business climate lie in the way that individuals and companies work together.

      It is becoming increasingly rare to find an individual or organization that has not yet been required to team with others. Lone rangers and sole-source providers simply cannot succeed in competitive environments and global economies. Those who benefit from collaborations, rather than become the victim of them, will log the biggest successes in business years ahead.

      Just as empowerment, team building and other processes apply to formal organizational structures, then teamings of independents can likewise benefit from the concepts. There are rules of protocol that support and protect partnerships, having a direct relationship to those who profit most.

      Professionals who succeed the most are the products of mentoring. The mentor is a resource for business trends, societal issues and opportunities. The mentor becomes a role model, offering insights about their own life-career. This reflection shows the mentee levels of thinking and perception which were not previously available. The mentor is an advocate for progress and change. Such work empowers the mentee to hear, accept, believe and get results. The sharing of trust and ideas leads to developing business philosophies.

      About the Author

      Hank MoorePower Stars to Light the Business Flame, by Hank Moore, encompasses a full-scope business perspective, invaluable for the corporate and small business markets. It is a compendium book, containing quotes and extrapolations into business culture, arranged in 76 business categories.

      Hank’s latest book functions as a ‘PDR of business,’ a view of Big Picture strategies, methodologies and recommendations. This is a creative way of re-treading old knowledge to enable executives to master change rather than feel as they’re victims of it.

      Power Stars to Light the Business Flame is now out in all three e-book formats: iTunes, Kindle, and Nook.

The Women’s Economy Starts Here

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For the first time in this nation’s history, women are now the majority of the work force and what a force that is. As the number of entrepreneurial women rises, it is clear that this country’s economy can begin to move in the right direction as long as these women begin to be treated equally; however this isn’t the case. Just recently, the pay equity bill failed to pass that would ensure equal pay for women. On average in this country, women make $0.85 on the dollar compared to men- and that’s Caucasian women, it drops dramatically when you look at other Ethnic groups. This is a trend that we have to focus our efforts on to change.

According to “JOBENOMICS, A Plan for America” by Chuck Vollmer, small businesses are the backbone of the US economy. With more and more female entrepreneurs, it is vital that they are equipped with the tools to be successful. Vollmer shows that small businesses “generated 64% of all new jobs over the past 15 years…employ more full-time people…and are far less likely to outsource jobs overseas.” But small businesses are still suffering, even as the economy is recovering, which is why women play such a vital role in this turn-around. If female-owned businesses were to have access to more resources and tools, this would in turn have a massive effect on the state of the nation. Vollmer also explains “Several common misperceptions about small business are that they do not produce as many jobs, and are more likely to fail relative to big business. Neither is true.”

Women are also the most influential consumers. Contributing to the total $7 trillion in consumer and business spending in America, women influence 85% of all purchasing decisions, including half of products that would seem more oriented to men, such as automobiles, home improvement items, and consumer electronics. The impact that women have on this country’s market alone is substantial. For products related to home life, it’s been reported that moms represent a $2.4 trillion market. These statistics make women the key target audience for any successful business.

With such a large impact, women are truly becoming the leaders of the U.S. and as leaders, it is vital to be prepared, educated and equipped for the task at hand. This is why events such as the California Women’s Conference are such an essential part of helping women network, grow and be inspired to succeed in their ventures. Being a business owner can be a risk and risk is scary for most people.

Five important keys for women to remember:

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About the Author

Michelle PattersonVisionary and lauded business accelerator Michelle Patterson is President of the Global Women Foundation and The California Women’s Conference – the largest women’s symposium in North America that has featured esteemed First Ladies, A-List Hollywood celebrities, and high caliber business influencers. Michelle is also the CEO of Women Network LLC, an online digital media platform dedicated to giving women a voice and a platform to share their message. Michelle may be reached at WomenNetwork.com.

Take Charge of Your Meetings!

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Meetings are essential for any business. They give everyone an opportunity to share ideas and be kept up-to-date on important information. However, all too often, poor communication can turn a meeting into a drawn-out, ineffective waste of time. There are several techniques that you can master to transform your communication skills and conduct your meetings like the effective business leader you are. Here are five tips to help you transform your meetings from a waste of time to an effective meeting of the minds:

  1. Speech skills matter! It doesn’t matter how intelligent or innovative your ideas are if no one can understand you. Many people speak more quickly when they’re excited or nervous, which decreases the clarity of their speech. Keep tabs on your rate of speech and make sure you’re not running your words together. Also, enunciate all of the letters in each word, especially the sounds at the ends of words. Missing the final sound of a word can change the meaning entirely and cause confusion.
  2. Speak up: One of the biggest issues in a group setting is miscommunication. If you don’t fully understand someone’s point or miss part of what has been said, speak up and ask questions. Even if it doesn’t seem critical at the time, misunderstandings can be a big waste of time and energy in the long run, and odds are if you are confused, so is someone else. Asking questions and requesting clarification can go a long way towards avoiding long-term misunderstandings.
  3. Remember the two ‘C’s: When speaking in a business meeting, don’t forget to be clear and concise. Remember that the main point of a meeting is communicating information, not trying to impress your colleagues with your oratory skills or large vocabulary. Before you speak, think about what you are going to say and make sure you’re making your point in the shortest, most direct way possible.
  4. Make sure no one dominates the conversation: Everyone has different communication styles and different levels of comfort about talking in a meeting environment. Unfortunately, this can often lead to one or two outspoken individuals dominating the meeting, causing an imbalance in the conversation. While you don’t want to discourage open speech, it’s important to maintain some balance for an effective flow of communication and ideas. If you feel someone has dominated a topic, politely move the conversation along by saying something like, “It sounds like you have some great ideas, and I’d love to chat about them later, but unfortunately we’re a bit short on time right now so we need to move on.”
  5. Be a good listener: Often people are so focused on how they can contribute to the conversation and sound intelligent, they spend their time internally planning what they want to say instead of listening to the person who is actually speaking. This can result in missing key information and misunderstandings. Not only is it essential to really listen, but also to visually communicate to the speaker that you’re listening. Sit up straight, look directly at the speaker, and maintain eye contact. Never fiddle with your phone or check your e-mail or messages; this is not only rude, but gives the impression you’re mentally checked out of the meeting. Now and then, nod to show that you understand. These are all ways to let the speaker know that you are really listening. Remember, you listen with your whole body, not just your ears!

About the Author

Jayne LatzJayne Latz is an expert in communication and CEO of Corporate Speech Solutions, LLC. She has worked as a speech trainer, coach, professional speaker, and has co-authored two books titled, Talking Business: A Guide to Professional Communication and Talking Business: When English is Your Second Language. She was recently featured in The Wall Street Journal and on The TODAY Show.

If you are interested in learning more ways to improve your business communication skills, contact Jayne at [email protected] or visit www.corporatespeechsolutions.com.

Is your weight loss tied to your sales gain?

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Everyone knows that as a nation we are somewhere between overweight and obese. This is not good.

I tell my audiences, “we are so overweight as a country, if we were invaded by enemies, we couldn’t even run away.”

The reason I’m writing is not to tell you what I plan on doing, rather it is to tell you what I have done, what I’m doing about it, and how I will continue this process.

For the past five years I’ve weighed somewhere between 205 and 209 pounds. That’s not good for a kid who weighed 160 in college. Granted that was some time ago, but it’s no excuse to be 50 pounds over college weight.

Much like you, I lamented it instead of doing anything about it. I wrote about, and bragged that I was on my way to losing weight. I never did. I bragged that I was sick and tired of being overweight, and I was going to go on a major weight loss program. I never did.

Loyal readers sent me messages of encouragement, diet plans, MLM pill plans, chocolate plans, coffee plans, and assorted health options. I never did any of them.

But silently and secretly, I began losing weight. Now that I’m down below 190 (almost a 20 pound loss), I can come out of the closet (or should I say come off of the scale), and begin to talk about it.

Besides the weight loss, I firmly believe that sales and health go hand-in-hand. I believe that my physical well-being will improve my sales well-being, while enhancing my mental well-being.

I also found that losing weight is not just about watching what you eat. It’s a combination of thinking healthy, eating healthy, and exercise.

Here is what I have found to be true to lose the first 20 pounds:

Thinking: you have to have a DAILY mindset, and a mental awareness of what you’re doing at all times. Especially about what you eat. Two keywords are: eat less. Two more keywords are: eat healthy. And the final keywords are: weigh yourself. Thinking leads to shrinking.

Eating: No secret formula or diet or pills here. Here’s what I did: I’ve switched to club soda or water. No other drink. When I drink club soda, I add a squeeze of fresh lemon and lime. I eat as much raw fruits and vegetables as I can. I limit bread and all other empty carbohydrates. That’s it. I sacrifice very little. And if I occasionally feel like having some kind of pastry or candy, I eat it, or should I say, I eat half of it. I learned that moderation is the key to weight loss. If I order something at a restaurant, I eat half, and push the rest away.

Exercising: Enter CYBEX. More than an exercise machine, it’s a healthy alternative to being a couch potato. I have a Cybex machine in my home. Exercising for 20 to 30 minutes three or four times a week has made me feel fit and firm. No, I don’t have a lot of muscle, but I do have a good feeling every time I finish (even though there are many days when I’m reluctant to start). For me, exercise is a bigger discipline than diet, but now that I’m actually losing weight, the desire to keep up the habit is nearing the stage of compelling.

I should also add losing weight at my age (68) is a hell of a lot harder than it is if you’re in your 20’s, 30’s, or 40’s.

Okay so I’m down almost 20 pounds. I’m a little more than halfway home. I intend to drop down to somewhere between 170 and 175 pounds. I believe that’s my healthiest weight, and also my best selling weight. And as a public speaker I believe it will increase my credibility significantly.

This will be my first in a series of articles about the importance of mental success and physical success. Every person who has ever written about anything having to do with human success and all personal development books at their core, stress the need to combine mental health and physical health. I will be no exception.

With 20 less pounds on me, everything is a bit easier. Even the mundane things like putting on your socks and tying your shoes are noticeably easier.

But the best part about having a few less pounds is how I feel about myself when I look in the mirror in the morning. Okay, I’m not the prettiest specimen in the world, but I love my new look. I also love weighing myself.

Some mornings I can’t believe how far I’ve come, but my incentive is to keep going until I reach my desired outcome.

Yes I have a support system, and yes I have an exercise machine of my own, but the key to my success has been my own self-discipline and my own desire to keep my healthy process moving forward.

And please be aware, I’m not bragging about what I’ve done. Rather I’m sharing information about how to get and stay healthy, and hopefully inspire you to do the same. Odds are you have 10 or 20 extra pounds on you that you wish you didn’t have. And you can’t will it away.

Come on dude, wake up and smell the pop-tarts – just don’t eat them.

Reprinted with permission from Jeffrey H. Gitomer and Buy Gitomer.

About the Author

Jeffrey GitomerJeffrey Gitomer is the author of The Sales Bible, Customer Satisfaction is Worthless Customer Loyalty is Priceless, The Little Red Book of Selling, The Little Red Book of Sales Answers, The Little Black Book of Connections, The Little Gold Book of YES! Attitude, The Little Green Book of Getting Your Way, The Little Platinum Book of Cha-Ching, The Little Teal Book of Trust, The Little Book of Leadership, and Social BOOM! His website, www.gitomer.com, will lead you to more information about training and seminars, or email him personally at [email protected].

Corrective Action Program Best Practice 13 – Formally Defined Reporting Criteria

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StrategyDriven Corrective Action Program ArticleEffective corrective action programs support achievement of the organization’s vision, mission, values, and goals. Consequently, adverse conditions and trends as well as performance improvement opportunities entered into the program must be aligned with these stated outcomes lest the program’s resource be diverted to non-value adding issues and its effectiveness be diminished. Formally defining corrective action program reporting criteria helps ensure the desired alignment is achieved and program effectiveness maximized.

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About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.