Have you ever driven your car on an icy road?
What happens when you jam-on the brakes?
That’s right, you slide off the road and maybe end-up in a ditch or worse.
That is exactly what is happening to many people today. They are spending entirely too much time watching, reading, listening and talking about how BAD things are in this economy. They are focusing on blaming Bush or Obama or the Fortune 100 CEOS or whoever. As a result, they can’t help but react with fear by jamming-on the brakes.
My winters in Chicago taught me that when I was driving on icy roads and I would hit the brake it would not “prevent” an accident but rather “cause” one to occur. When we blithely slash expenses, lay-off our best and often highest paid people, discontinue investment in technology, marketing, training or improvement programs we are actually RE-ENFORCING our worse fears and jamming on the brakes. I can assure you that this will cause us to end-up in the ditch. Getting out of the ditch will not be easy and in many cases will end-up costing us more than we save.
Instead, I want to encourage entrepreneurs to certainly drive carefully and more diligently. To continue the analogy, we may need to slip into low gear but maintain that steady forward motion. This challenging economic environment is presenting new opportunities (devalued technologies and businesses), the opening of new markets (Green and sustainable areas) and allowing us to access resources which have not been as readily available when times were good (there’s more great talent on the street). This is a fabulous time for small businesses to grow and prosper. My most successful clients are now investing more into growth and expansion opportunities than ever before! We are taking our own advice and investing in the release of my new book, The Rules of Attraction, the release of our new Small Business Radio weekly show and in hiring several new consultants!
Just like navigating a treacherous stretch of icy road, it requires careful planning, quick reaction time, precise execution and a healthy risk tolerance. I plan on safely arriving at my destination on time and ensuring our clients do as well. Our positive mindset, practical skills, and sharp wits will permit us to do so. Won’t you join me?
Your action plan for this week:
Turn-off the news!
Cancel the daily paper!
Stop talking about how bad things are!
Don’t buy-in to the FEAR mentality!
I predict just 18 months from today, you will look back and be happy that you did.
Have a great week!
–Mark Deo
The Power of Combined Training and Coaching
Before I go on with our business update this week let me just take a moment to welcome a new member to out consulting staff. His name is Sean Griffith and he is a new Senior Business Consultant with the SBA Network. Sean is also an attorney and Financial Consultant. Don’t hold that against him. With over 10 years of experience he has been helping clients to achieve their goals. Send him an e-mail and introduce yourself. |
Companies spend over $375 billion every year on training and even more on coaching. Yet according to the American Society for Training and Development about “42 percent of the knowledge that professionals use to get their jobs done actually comes from their co-workers. This is called prairie-dogging–workers pop out of their cubicles to solicit information from the local expert. When a worker is consulting another worker, both workers lose productivity.”
We won’t even address the fact that many of these “company experts” are actually spreading the incorrect methods or techniques and that just adds to the dysfunctions that permeate many organizations today.
What if you could provide the skills that workers need to increase their performance without adversely impacting productivity?
There is. It can be accomplished by combining training with coaching.
It is easy to confuse the purpose of training and coaching. I suppose misconceptions arise due to the need for change in performance and the fact that each of these disciplines can discretely increase performance. To demonstrate the difference in a more concrete way, let’s take a look at the intent of training vs. coaching in most applications:
- Training
- Satisfies the knowledge gap
- Typically performed in a group setting
- Learning can occur from other participants
- A forum for harnessing enthusiasm and team motivation
- Content is based on a specified single topic
- Delivers instruction of methods and techniques
- Established period of time
- Classroom-based
- Pre-established pacing
- Coaching
- Satisfies the skills gap
- One-to-one interactivity
- Typically Learning cannot occur from other participants
- A forum for harnessing enthusiasm and team motivation
- Content can be based on varying topics
- Assists participant to put methods and techniques into action
- Varying period of time
- On-the-job
- Flexible pacing
There are probably many other advantages of training or coaching when viewed as separate disciplines, yet consider the combination of providing training with coaching. When these forces are combined we are able to create an environment where habits can be changed much more rapidly.
We deliver the methods and techniques in a training environment and then ensure that they are put into practice with on-going coaching. The coaching allows team members to adapt their training experience to their specific challenges on the job. This supports effective skill-building, increases confidence and solidifies habitual change.
I am proud to say that our organization has been associated with Dale Carnegie Training for over 15 years and we have seen first-hand what combined training and coaching can do to increase the performance within an organization. You can find out more about our coaching programs at http://www.sbanetwork.org
Have a great week!
–Mark Deo
No Time to Plan
It is not often that I find myself without words. I usually have plenty to say about any topic imaginable. But recently when speaking with a CEO who had asked my advice about how to deal with a particular challenge in his business, I was rendered speechless. This CEO had recently lost a key supplier to the competition thereby disrupting his supply chain and causing production and delivery problems.
As we discussed his challenges, the CEO seemed forthright and was open to hearing ideas of how to handle this. So I told him about several other clients that had experienced the same problem and how they created a foolproof method for avoiding such circumstances in the future. I suggested he engage in some planning to create a network of suppliers with contingencies for those that fail to maintain loyalty. I suggested that in the future, he should try to avoid depending too much on any one supplier unless there was an exclusive arrangement in place. I told him that the key was doing some careful planning to identify competitive suppliers and play one against another.
His response both stunned and surprised me. He said. “Wow, that sounds like it would take a LOT of time. I don’t have time for planning!” I asked him if he now had time to find a new supplier. He answered a sheepish, NO and went on to tell me about how he was working 60+ hours per week just trying to manage all of the details of his business.
I think this is a fairly common problem with business leaders today. We spend so much time working IN our business that we fail to work ON the business. Peter Drucker said that on the average one hour spent planning is worth 5 hours of execution. Are you spending enough time planning? Do you need to take a step back and look at the big picture and identify some contingencies?
This might be the very time to do just that. For more information on planning and planning resources, check out our library of articles.
Mark Deo and Cory Halbardier, as well as other SBA Network consultants are available for keynote presentations and other type of speaking engagements. Contact Cory Halbardier at 310-320-8190 to ask about availability.
-Mark Deo
mark@markdeo.com
Global Business
I want to make everyone aware of an upcoming radio show that we are doing this Friday at 4pm – PST with one of the most interesting business authors I have spoken with in a while.
His name is James Hemerling and his book is called GLOBALITY: Competing with Everyone from Everywhere for Everything. Hemerling states that the old global business model (centralized, top-down, process-driven, with influence running from West to East) will recede, perhaps vanish. It is inadequate for a world in which every global company is forced to compete: in every market, with everyone, from everywhere, all the time, for resources and market share.
Unlike developed-market leaders, emerging-market challengers have evolved new management and governance structures that are ideally suited to this new competitive landscape. In addition, it has enabled them to undercut, outthink, outwork, out-innovate, and generally outfox some of the biggest, most powerful names in global industry. What are these upstart challengers doing? How are they winning?
Imagine companies that:
- Innovate at the rate of one new product development every 12 hours.
- Give up the notion of “headquarters” in a drive toward global expansion.
- Do away with titles and committees in an effort to improve staff development.
- Expand into 50 countries by satisfying global demand that no one else could see – at the lowest, cheapest end of the market.
- Hire thousands of people to staff assembly lines, instead of automating, to be more efficient, flexible, and profitable.
- Achieve such high efficiency that they can give away 60% of their services and still make a profit.
- Retrain workers by the tens of thousands to build a world-class capability, in less than a decade.
Again, listen to my interview with James Hemerling this Friday at 4pm – PDT. Just go to www.markdeo.com and turn-up the sound. It’s that easy!
-Mark Deo
mark@markdeo.com
Fuel for the Economy
I remember my 1966 Mustang. I sold it for $600 in 1976 before going to grad school and I’m still kicking myself over that! Everyone loved Ford in those days. But it’s not easy to believe in Ford these days. The auto giant has lost over $15 billion, closed factories, shed tens of thousands of jobs, sold-off Jaguar, Land Rover and given-up the No. 2 position in sales to Toyota!
Their new Chief Marketing Officer, James Farley, formerly with Toyota, was rehearsing for his speech to dealers, stockholders and company leaders. As the lights dimmed, Mr. Farley didn’t calmly announce his future plans or quote statistics. Instead, he spoke from the heart, revealing a depth of passion for Ford that turned the room dead silent. He became swept up in the emotional power of the moment. “I believe, in many ways, the future of Ford is the future of our country,” he said. “The work here is simply more important than the work I was doing at Toyota.” When he finished, the dealers rose for a standing ovation that left Mr. Farley momentarily stunned. After the applause died down, he savored the reaction. They were waiting for someone to believe in.
Computers, automation and mobile connectedness has had a strange impact on people today. It has caused a desensitization of emotional response. We want to quantify and analyze everything. It is draining the passion and heart from all that we do. I would like to encourage business leaders today to let their true emotions show. Cry real tears, quake with true laughter and shake with anger if you must. Don’t downplay the power of REAL EMOTION. Your team is depending on your genuine emotional display to motivate them. It is the fuel for their continued belief and a precursor to talking action!
Have a great week!
–Mark Deo
Turning the Economy Around
This is an interesting time. The recent layoff of 80,000 American workers has resulted in all of the financial gurus spouting their drivel about the global economic crisis we are facing. I have even heard some say we are entering another depression. Just a few days ago, I appeared on FOX TV and discussed this with business expert Neil Cavuto. He asked me how I thought this was affecting small business owners and what they could do about it. My comments were that maybe we should put some of these gurus on the firing line of small businesses and see how they do. Their demise would be quick and final. Because as I told Mr. Cavuto, the most important asset that entrepreneurs have today is their attitude.
Without a positive attitude, we are doomed regardless of how well or how poorly the economy is doing. Many of us perhaps have heard the Serenity Prayer – “We must accept the things we cannot change, have the courage to change the things we can, and wisdom to know the difference.” Surely, we cannot individually change the economy but collectively it is certainly possible. We can do this by focusing on the critical business issues at hand like, delivering a higher level of customer satisfaction, creative product development and line extensions, smart financial management, getting longer terms on payables, building customer loyalty programs and penetrating new markets. We do have the ability to turn this economy around but we must first look in the mirror and begin the change within. Do you have the courage to take that challenge? I sure hope so. All of our jobs might depend on it.
Click the Fox Business logo below to view my latest appearance:
Have a great week!
–Mark Deo
How beliefs affect your Sales Team
It’s 10 am on Monday morning at Hal Company. Everyone knows it’s time for the sales meeting run by Jay, the sales manager. Jay begins by describing the company’s successes over the last week. He mentions that Martin gained commitment from a new client. Everyone claps for Martin but he’s not there. As Jay continues to talk about the company’s goals, he notices Sam disengaged, reading through what appears to be a contract. Adam and Valishia are always upfront. They thrive on these meetings. Jay knows that they both rely too heavily on excitement to keep their sales up.Jay has a problem, but it is hard to see.Now, let’s investigate the real issues.Martin is at his desk working on a proposal. He doesn’t see the need to attend the meeting. From his experience at a large company, he found meetings to be a complete waste of time. In addition, he and his old compatriots would frequently joke about tactics they each used to escape meetings. This cemented the belief that “Meetings are useless, so I won’t attend.” Jay has experienced difficulty changing this behavior. He has pulled Martin aside on several occasions and requested that he attend the meeting. When he doesn’t, Jay permits it to slide because Martin is bringing in more sales than anyone else.Jay notices that Sam is consistently disengaged in various settings. In other meetings and trainings, Sam usually has something to distract him. While sitting with clients, Sam spends more time talking than listening. This prevents him from attaining a high level of sales. He believes that what he has to say is more important what others have to say. This gets in his way.Adam and Valishia learned once-upon-a-time that sales is an excitement game. They believe that if they stay excited, they will close more sales. Because of this, they attend every meeting, event, internal and external training, and industry meeting. The problem is they spend more time meeting people and very little time selling.From the article, “How Beliefs Affect Your Resiliency” we know that beliefs can’t be changed directly and aggressively. They must be changed through coaching. We recommend professional coaching because changing beliefs is difficult, but permanent. In lieu of using a professional coach, we would recommend that Jay sit down with each of them, explain how beliefs work (from the article mentioned above,) and asked questions that get to the heart of their belief. Asking questions such as, “You didn’t attend the meeting, this was the behavior. What was the expectation behind that?” He may say that he expected no value to come from the meeting. Then ask him, “What belief creates this expectation?” He may say something like, “I believe that all meetings are a waste of time.” Then ask him what would need to happen at a meeting to make it valuable for him to attend.Once you know, ask him that if you incorporated this new concept into the meeting, if he would attend. Then ask why he would attend. His answer builds emotional value into the meeting.Follow a similar format with the other individuals.This article was written by SBA Network Consultant Cory Halbardier.SALESPERSON: If you are a salesperson, receive a FREE copy of our audio program Being More Productive by sending an email to me at cory@sbanetwork.org with the name and email address of your sales manager. We will send him this article along with a special audio program titled Motivating Your Staff. SALES ADVANTAGE: We are starting the next session of the Dale Carnegie Sales Advantage class. If you are a salesperson who wants to learn the structure of effective sales, or just to improve your skills, the new class starts March 17th. Sign up today by contacting Aaron Kent at aaron_kent@dalecarnegie.com or 562-426-8327 x210.Have a great week!-Cory Halbardier (cory@sbanetwork.org)
Will Anyone Be Saved by the SBA’s New ARC?
Just a few days ago I wrote another article for Entrepreneur Magazine which was picked-up by Reuters and and several other publications. See the entire article here http://entrepreneur.com/money/financing/article202382.html
It references the new America’s Recovery Capital (ARC)loan program. The ARC loan is a $35,000, interest-free, deferred-payment loan, fully guaranteed by the Small Business Administration and available to established, viable, for-profit small businesses suffering “immediate financial hardship.” This program is meant to be a savior for small businesses in touble but it seems to be nothing more than a publicity stunt by the current administration. There are 30 million small businesses in this country yet only 10,000 loans available. Huh?
I spoke to several of the supposed “participating banks” and they are quite nervous about the fact that they will be required to issue funds without receiving any of the loans’ principle from the SBA for a full year. In addition, the SBA is offering a lower interest rate than other loan programs.
The Coleman Report, a newsletter for banks, states that “the ARC loan program is already being positioned to be a failure, and lenders are going to be the key players behind that failure.” Even the SBA says it expects ARC loans to default at a higher rate than its other programs.
Is this the best our government can do to help small businesses to survive in this difficult time? As America’s small businesses continue to “take on water,” the jury is still out on whether the ARC loan program will be a lifeline to thousands of small businesses.
Why Google AdWords Is So Important: And How it Can Give Your Business a Huge Competitive Advantage
This is all about getting in front of people who are looking for what you sell right this moment and getting them to respond. It’s about understanding your audience, refining your sales message, perfecting your sales process and determining your Return On Investment, faster than ever before in the history of marketing – and doing all of this for a very modest sum of money. When you use the simple process I’m about to show you, you’ll achieve the dream of “Marketing on Autopilot” faster than ever before! |
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Let’s Put This in Historical Perspective
Direct marketing has been around since the late 1800s when mail order marketing began. Back then you would run an ad in a magazine with an order form, and the reader would have to cut out the ad, write a check, enclose it in a letter and mail it. Four to eight weeks later, if the vendor was honest, you’d get your stuff in the mail. Advertisers quickly discovered that they could “key” the order forms with a code, according to which magazine, which advertising copy and offers were used, etc., and get enormously different responses. Within a few decades this became a rigorous science, and some of the very best books on direct marketing were written almost 100 years ago. The guys who did this lived and died by their ads!
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Web Site Presence
So…you’ve just created your first website and Boy, It’s Real Pretty! It has your name and phone number, some blinking logos, flashing banners, loaded with lots and lots of information..yeah, really pretty!!
Hey, everyone knows the internet is where you’ve got to be. You’re going to make money and there are millions of surfers every day on line..and after all, with a site as nice as yours, you’ll be raking in the dough real soon.You wait. A week goes by. You check your site once more – 14 hits on the counter – all yours (you check in twice every day to admire what a great site you have and see if anyone has stopped by). OK, OK, it takes time for your site to be listed in the search engines… and when that happens…whooh, look out traffic! After all, your site’s real pretty and it’s packed with information and features, features, features!Two weeks go by. Then three. No difference. Your saddened, discouraged. This Internet stuff is a crock you tell yourself.Welcome to the real world! What you have done up till now is akin to putting up a billboard in the middle of the forest. Given time, a hunter will stumble by, take a look, and continue the hunt – hardly a way to make money!I’ve spent time looking at quite a number of sites. Most are woefully lacking in both traffic and ways to market their products or business to surfers who do happen to stumble by. If you want to make money with your website, this has to change. A mentor of mine says that one of the definitions of insanity is to keep doing what you’ve always done and expect to get different results. Yet that’s
what many, many website owners do every day.A successful web presence requires:creative design concept
relevant, useful content for your target audience
gives a reason for people to return often and consistently
exceptional domain packages
proper website design
secure website service
enabled for E-Commerce
automated credit card processing and check verification
a hosting service that allows you to EASILY and QUICKLY make changes yourself
fast and easy navigation
banner ad exchange programs
search engine placement and improved rankingI hope this helps you to learn some new ways to create a strong web presence.