Michael Phelps 1st photo
Saturday, August 30, 2008
Joke of the Weekend XIX
Everybody, Somebody, Anybody, and Nobody
This is the story of four people named Everybody, Somebody, Anybody, and Nobody. There was an important job to be done and Everybody was asked to do it. Anybody could have done it, but Nobody did it. Somebody got angry about that, because it was Everybody's job. Everybody thought Anybody could do it, but Nobody realized that Everybody wouldn't do it. Consequently, it wound up that Nobody told Anybody, so Everybody blamed Somebody.
This is the story of four people named Everybody, Somebody, Anybody, and Nobody. There was an important job to be done and Everybody was asked to do it. Anybody could have done it, but Nobody did it. Somebody got angry about that, because it was Everybody's job. Everybody thought Anybody could do it, but Nobody realized that Everybody wouldn't do it. Consequently, it wound up that Nobody told Anybody, so Everybody blamed Somebody.
Friday, August 29, 2008
Boosting Morale on a Budget
Boosting Employee Morale is an important ingredient for success. I have always remembered a statement that my mentor once said. The difference between a great company and good company is that a great company has people motivated to do a little extra (whether productivity, an extra phone call, an extra thank you . . . ). One way to do that is create a positive environment. In a startup or small organization, there are ways to boost morale that are not very expensive. Here is an article on boosting employee morale on a budget.
How To Boost Employee Morale On A Budget
www.forbes.com
Jane Applegate
http://www.forbes.com/entrepreneurs/2008/08/28/small-business-morale-ent-hr-cx_ja_0828boostmorale.html?feed=rss_entrepreneurs
How To Boost Employee Morale On A Budget
www.forbes.com
Jane Applegate
http://www.forbes.com/entrepreneurs/2008/08/28/small-business-morale-ent-hr-cx_ja_0828boostmorale.html?feed=rss_entrepreneurs
"Money can’t buy happiness" is not a cliche when it comes to boosting morale around the office. In these uneasy times, when many entrepreneurs are pinching every penny, knowing how to reward employees without spending a lot is crucial.
"You can do things for employees that don’t cost anything, but are worth a million dollars,” says Bob Nelson, author of 1001 Ways to Reward Employees, now in its fifty-second printing. Better yet, "small businesses can do [these things] because they aren't constrained by a 500-page policy manual."
Stop fretting about not being able to shower your employees with cash, says Nelson, who runs a consulting company based in San Diego. For his doctoral dissertation, Nelson conducted a landmark survey of 2,400 employees in 34 companies.
Greenbacks are nice, of course, but barring those, Nelson discovered that most employees crave communication, involvement and autonomy. While a hearty pat on the back always feels good, extra attention and sense of ownership feel even better.
"Every employee should be given the chance to determine how best to do their jobs, as well as increased authority and leeway in the handling of company resources," says Nelson.
Arbill, a Philadelphia-based workplace-safety consultancy, takes that observation to heart. The company boosts morale by giving the troops more responsibility. "We created employee committees to do things like set up a health fair, a food co-op and other [projects]," says chief executive Julie Copeland.
But the extra work doesn't just make people feel good. "Watching how employees manage these committees helps us create a great bench of leaders for the company," says Copeland.
Taking an interest in your employees also means investing in their future. That's why training and development opportunities are energizing perks. Check out the local community colleges and university-extension departments for affordable classes, and foot part or all of the tuition for eager employees.
Company picnics? Chuck them. Employees don't care--in fact, they find them a burden. Better to grant the flexibility for personal time to handle family obligations. Four-day work weeks are becoming popular (though they come with their own complications). If possible, consider letting people work from home one day a week--with gas at $4 a gallon, that savings will feel a like a holiday bonus.
In a very small company, rewarding just one employee can make a huge difference. Take it from Sari Gabay-Rafiy and Anne Marie Bowler, two lawyers who left a large firm to start their own Manhattan practice two years ago.
When Myrna Greenfield, their 60-something, part-time legal assistant, was feeling a bit blue, the partners decided a makeover was in order. So, they booked an appointment at the Sparkle Beauty Studio, a trendy salon on Charles Street in Manhattan’s West Village.
Myrna left with a chic razor haircut and a smile on her face. After the salon visit, they continued their “girls’ day out” with cocktails and dinner. "We can’t give our staff thousands of dollars in bonus checks, but we can do little things for them," said Gabay-Rafiy.
Kathy Taggares, chief executive of K.T.’s Kitchens, a Carson, Calif.-based maker of frozen pizza and salad dressing, needed a cost-effective way to thank her overworked staff for winning a multi million-dollar grocery account. The previous year's glitzy, five-figure Los Angeles harbor cruise with open bar was too expensive to repeat, so she booked a nearby go-kart track for a Friday afternoon.
"We mixed up people from production, quality control and maintenance," she says. The drivers ranged from 20-something women to a 74 year-old manager; non-drivers got into the act as cheering "pit-crews." The afternoon ended with a feast of Mexican food and gooey cake served in the party room at the track. Price tag for the 35-person celebration: about $2,000.
"It was a great team-builder, because people from different departments are often at odds with each other," says Taggares, who handed out trophies to winning drivers. "You would have thought people were winning Oscars. Everybody was just thrilled."
Thursday, August 28, 2008
Going Global
Over the last few months, I have met and worked with many organizations who are taking their US-centric businesses to the global marketplace. One of the initial mistakes in their thought process is building business with two segments: US and Global.
However, as a global leader, you need to think differently. US is part of the world, i.e., global.
A few Things to do in moving global:
- organize globally
You might not be able to do that right away, but you need to be moving in that direction if you really want to be a global unit.
- focus on customer segmentation
Just because you sit in the US, does not mean that you only want the US product/service. Some will have US domestic responsibility, while others will have global responsibility. These are two distinct segments which have different needs and requirements. A customer with global responsibility who sits in the US will have similar issues/needs as another customer with similar responsibilities sitting in the UK. So, its global versus local.
- have a global mindset but remember local differences
Going global does not mean take what you have in one country and sell it globally. You need to have a global platform (mindset) but local flexibility. Coca Cola is an excellent example, same brand, platform, but the taste of coke varies in different geographies based upon local preferences.
From my experiences, working globally is very rewarding. However, you do need to think differently than you have in the past.
However, as a global leader, you need to think differently. US is part of the world, i.e., global.
A few Things to do in moving global:
- organize globally
You might not be able to do that right away, but you need to be moving in that direction if you really want to be a global unit.
- focus on customer segmentation
Just because you sit in the US, does not mean that you only want the US product/service. Some will have US domestic responsibility, while others will have global responsibility. These are two distinct segments which have different needs and requirements. A customer with global responsibility who sits in the US will have similar issues/needs as another customer with similar responsibilities sitting in the UK. So, its global versus local.
- have a global mindset but remember local differences
Going global does not mean take what you have in one country and sell it globally. You need to have a global platform (mindset) but local flexibility. Coca Cola is an excellent example, same brand, platform, but the taste of coke varies in different geographies based upon local preferences.
From my experiences, working globally is very rewarding. However, you do need to think differently than you have in the past.
Wednesday, August 27, 2008
Family First
You work hard. I work hard. Most people want to do a good job. Some work hard because there is fear of losing their job.
How do you balance working "all the time" and family?
Now, I might not be the best to advise on this because in the past, I was one of those doing extra work so I could "succeed" or at least not get fired. I was a workaholic. There I said it.
My priority advice to others has always been:
1. GOD (or any other higher authority that you believe in)
2. FAMILY
3. WORK
In this area, "I did not do what I preached". I had the priority in a different order.
Family will always be there in good and bad times. Work might be there in good times, but when bad times . . . (the social contract between worker and employer has changed dramatically over the last few decades).
Times change. People are renewed. I am one of those. I now follow my own advice that I have been giving to so many people. I have made decisions that put family first (this week example, I wanted to walk my sons to the bus stop on their first day of school but a meeting was set up in another state . . . I moved the meeting . . . I would have not done that in the past, I was addicted to work).
Am I perfect? No.
However, I am making positive strides. I have a better relationship with my family. I work around family priorities much more than I "family" around work priorities. The other benefit is that I feel less stressed, my blood pressure has never been better, cholesterol count is below normal, my heartbeat was registered at 39 beats a minute (I know all of these as I recently had to visit a doctor for new life insurance policy). My new role has provided the flexibility to make this happen and I appreciate the opportunity to my personal needs. I know some do not have that flexibility but try your best (with telecommuting, etc, it might be easier than you think) . . . it has made a positive difference in my life, too bad I did not follow my own advice years ago.
Try Family, you might feel better overall (and end up having a better and happier life)!
How do you balance working "all the time" and family?
Now, I might not be the best to advise on this because in the past, I was one of those doing extra work so I could "succeed" or at least not get fired. I was a workaholic. There I said it.
My priority advice to others has always been:
1. GOD (or any other higher authority that you believe in)
2. FAMILY
3. WORK
In this area, "I did not do what I preached". I had the priority in a different order.
Family will always be there in good and bad times. Work might be there in good times, but when bad times . . . (the social contract between worker and employer has changed dramatically over the last few decades).
Times change. People are renewed. I am one of those. I now follow my own advice that I have been giving to so many people. I have made decisions that put family first (this week example, I wanted to walk my sons to the bus stop on their first day of school but a meeting was set up in another state . . . I moved the meeting . . . I would have not done that in the past, I was addicted to work).
Am I perfect? No.
However, I am making positive strides. I have a better relationship with my family. I work around family priorities much more than I "family" around work priorities. The other benefit is that I feel less stressed, my blood pressure has never been better, cholesterol count is below normal, my heartbeat was registered at 39 beats a minute (I know all of these as I recently had to visit a doctor for new life insurance policy). My new role has provided the flexibility to make this happen and I appreciate the opportunity to my personal needs. I know some do not have that flexibility but try your best (with telecommuting, etc, it might be easier than you think) . . . it has made a positive difference in my life, too bad I did not follow my own advice years ago.
Try Family, you might feel better overall (and end up having a better and happier life)!
Monday, August 25, 2008
Co-opetition
Can you be #1 in every business line and all segments?
It is very difficult to do. You have limited resources and other competitors might have a head start or some level of strategic control. In addition, in these times, disruptive technology can make it difficult on the industry leaders, i.e., it is hard enough to stay ahead of the competition in the markets you are strong.
This is why some successful firms are turning to co-opetition whereby do you really need to be #1 at everything or is a better strategy to partner with someone who can serve a niche that is difficult for you to penetrate. The surprising thing is that more and more partners are actually competitors. Oh no, dog and cats living together, no way!
I have always had a view that when it makes business sense it might be the right decision to partner with a competitor. Yes, this means conceding a segment but they might just be better at that segment. Following this strategy, it could prevent additional competitors from entering the marketplace. If the partnership works well and best interest for the shareholders, co-opetition could lead to a merger down the line
Instead of fighting an uphill battle in a particular marketplace, you may want to partner with a competitor and then place your resources on areas that have a higher possibility of return and specific areas of strategic control (you have a captured customer based). Remember, don't continue to beat her head against the wall if there is a door a few steps away. Some times, your enemy could be your best friend.
It is very difficult to do. You have limited resources and other competitors might have a head start or some level of strategic control. In addition, in these times, disruptive technology can make it difficult on the industry leaders, i.e., it is hard enough to stay ahead of the competition in the markets you are strong.
This is why some successful firms are turning to co-opetition whereby do you really need to be #1 at everything or is a better strategy to partner with someone who can serve a niche that is difficult for you to penetrate. The surprising thing is that more and more partners are actually competitors. Oh no, dog and cats living together, no way!
I have always had a view that when it makes business sense it might be the right decision to partner with a competitor. Yes, this means conceding a segment but they might just be better at that segment. Following this strategy, it could prevent additional competitors from entering the marketplace. If the partnership works well and best interest for the shareholders, co-opetition could lead to a merger down the line
Instead of fighting an uphill battle in a particular marketplace, you may want to partner with a competitor and then place your resources on areas that have a higher possibility of return and specific areas of strategic control (you have a captured customer based). Remember, don't continue to beat her head against the wall if there is a door a few steps away. Some times, your enemy could be your best friend.
First Day
Today was my sons' first day of school. As expected, they were nervous, new teacher, new classmates, new school room, etc. Walking them to the bus stop this morning, I was nervous for them (why is it that we get nervous for them? it is because we think back to our first day of school?).
Several times in my career, I was hired into a leadership role from the outside when I did not know much about the staff. Those first days were the toughest of my career. First days are stressful anyway, but be in a new role in a leadership capacity adds to that stress. You show up and every one and every thing is new (feeling out of the element), but you are the one "in charge". While some staff will be looking for a sign of brillance in the first hour, others will be questioning why we hired this person in the first place.
Here are some learnings from my "first day" experiences:
1. Recognize the First day is only one day and its a long road.
2. Take your Time; You do not need to know everything and everyone the first day
3. Be Yourself; this is what got you into this position in the first place
4. Take Charge; send a signal that you are the new leader whether by a staff meeting, quick conference call outlining what your overall plan is for the next few months
5. Communicate; Set the foundation for what you want to have done during the first 90 days
I advised my sons with the first three (did not think they needed a 90 day plan) and told them to take a deep breathe and all will be fine. However, as the bus drove away, I still had those butterflies in my stomach and hoping their first day goes well!
Several times in my career, I was hired into a leadership role from the outside when I did not know much about the staff. Those first days were the toughest of my career. First days are stressful anyway, but be in a new role in a leadership capacity adds to that stress. You show up and every one and every thing is new (feeling out of the element), but you are the one "in charge". While some staff will be looking for a sign of brillance in the first hour, others will be questioning why we hired this person in the first place.
Here are some learnings from my "first day" experiences:
1. Recognize the First day is only one day and its a long road.
2. Take your Time; You do not need to know everything and everyone the first day
3. Be Yourself; this is what got you into this position in the first place
4. Take Charge; send a signal that you are the new leader whether by a staff meeting, quick conference call outlining what your overall plan is for the next few months
5. Communicate; Set the foundation for what you want to have done during the first 90 days
I advised my sons with the first three (did not think they needed a 90 day plan) and told them to take a deep breathe and all will be fine. However, as the bus drove away, I still had those butterflies in my stomach and hoping their first day goes well!
Saturday, August 23, 2008
Joke of the Weekend XVIII
My boss...
1. My Boss has learned to be cautious. Failure taught him that.
2. My Boss isn't a total failure. His Boss helped too.
3. If ever we need to simulate a problem, we invite my Boss to the meeting.
4. Normally we don't except sloppy work, but we make an exception for my Boss.
5. If my Boss was a energy plant, he'd be a 'power failure'.
6. As hard as it is to believe, my Boss has a will of his own. His attorney wrote it.
7. My Boss recently completed 'Excel for Dummies". Now, the rest of us are reading "The Dummy Unleashed."
8. My Boss returned from his evaluation looking very sad. He said "I can't figure out why my Boss hates me. I haven't done anything."
9. My Boss' business philosophy is "You can fool enough of the people some of the time."
10. My Boss doesn't mind work. Its thinking that scares him.
11. Comments on the first day from my new Boss "Over the years I've trained 3 people who eventually became my Boss. I guarantee that's not going to happen to you."
12. My Boss canceled the weekly status meetings on a project long overdue. She said "Every week its the same thing. Let's wait until something happens, before we meet again."
13. I interviewed with a company and then didn't hear back for over a month. I had written them off, and was surprised to get a phone call from my Boss-to-be, asking if I was still interested in the position. When I said, "yes," he said, "good, because our first two choices got better offers."
14. In their absence, management left my Boss in charge. They wanted to see the 'worst case scenario.'
15. My Boss recently joined my car pool. I now know, I can lead my Boss to work, but I can't make him think.
16. "Yes, I've read your proposal, but I can't support concepts before management's review." Typical political maneuvers by my Boss.
17. "I really love that spreadsheet. I did 10 what-ifs and I liked them all." Comment after seeing his pie-in-the-sky sales forecasts.
18. Management posted a flyer, on the employee bulletin board, supporting a $0.00/hr minimum wage. They claimed that even an employee earning $0.00/hr, benefits from the experience of work and the learning process. Frankly, I earn a salary and I don't see the benefit.
1. My Boss has learned to be cautious. Failure taught him that.
2. My Boss isn't a total failure. His Boss helped too.
3. If ever we need to simulate a problem, we invite my Boss to the meeting.
4. Normally we don't except sloppy work, but we make an exception for my Boss.
5. If my Boss was a energy plant, he'd be a 'power failure'.
6. As hard as it is to believe, my Boss has a will of his own. His attorney wrote it.
7. My Boss recently completed 'Excel for Dummies". Now, the rest of us are reading "The Dummy Unleashed."
8. My Boss returned from his evaluation looking very sad. He said "I can't figure out why my Boss hates me. I haven't done anything."
9. My Boss' business philosophy is "You can fool enough of the people some of the time."
10. My Boss doesn't mind work. Its thinking that scares him.
11. Comments on the first day from my new Boss "Over the years I've trained 3 people who eventually became my Boss. I guarantee that's not going to happen to you."
12. My Boss canceled the weekly status meetings on a project long overdue. She said "Every week its the same thing. Let's wait until something happens, before we meet again."
13. I interviewed with a company and then didn't hear back for over a month. I had written them off, and was surprised to get a phone call from my Boss-to-be, asking if I was still interested in the position. When I said, "yes," he said, "good, because our first two choices got better offers."
14. In their absence, management left my Boss in charge. They wanted to see the 'worst case scenario.'
15. My Boss recently joined my car pool. I now know, I can lead my Boss to work, but I can't make him think.
16. "Yes, I've read your proposal, but I can't support concepts before management's review." Typical political maneuvers by my Boss.
17. "I really love that spreadsheet. I did 10 what-ifs and I liked them all." Comment after seeing his pie-in-the-sky sales forecasts.
18. Management posted a flyer, on the employee bulletin board, supporting a $0.00/hr minimum wage. They claimed that even an employee earning $0.00/hr, benefits from the experience of work and the learning process. Frankly, I earn a salary and I don't see the benefit.
Friday, August 22, 2008
Compliments
Compliments come from surprising places and sometimes those are the best.
As I mentioned in an earlier posting, I was teaching Statistics this week (it is a two day course on basics of statistics but includes applied regression analysis and modeling) I teach this course three times a year and have been doing this for 18 years (yikes, long time).
There was a 22 year-old student who just graduated from university in June and just started working for an organization's HR department (in compensation). Usually, the students in this class are older and have been out of university for some time. At the end of the course, she approached me and said "you would make a great professor" and we had a good discussion for a few minutes on why, etc. (it was relevant because I would like to teach more regularly in a college or university setting in the future). I have to tell you, as I was leaving, I felt really good about that compliment even got a few butterflies in my stomach (maybe she was just being nice, who knows), but it gave me such a lift after an interesting week.
My point to this posting is that the smallest compliments (from unexpected places) can go a long way. As leaders, it is easy to forget how a few nice words can impact people or a pat on the back. As for those future leaders, remember that those in leadership positions also like those compliments (if deserved, but dont overdo it, dont want to be known as a brown-noser). Compliments are not expensive, they don't directly affect the P&L statement, but they do have a powerful impact on those receiving them! Use them, but use them wisely.
Thanks for reading this blog!
As I mentioned in an earlier posting, I was teaching Statistics this week (it is a two day course on basics of statistics but includes applied regression analysis and modeling) I teach this course three times a year and have been doing this for 18 years (yikes, long time).
There was a 22 year-old student who just graduated from university in June and just started working for an organization's HR department (in compensation). Usually, the students in this class are older and have been out of university for some time. At the end of the course, she approached me and said "you would make a great professor" and we had a good discussion for a few minutes on why, etc. (it was relevant because I would like to teach more regularly in a college or university setting in the future). I have to tell you, as I was leaving, I felt really good about that compliment even got a few butterflies in my stomach (maybe she was just being nice, who knows), but it gave me such a lift after an interesting week.
My point to this posting is that the smallest compliments (from unexpected places) can go a long way. As leaders, it is easy to forget how a few nice words can impact people or a pat on the back. As for those future leaders, remember that those in leadership positions also like those compliments (if deserved, but dont overdo it, dont want to be known as a brown-noser). Compliments are not expensive, they don't directly affect the P&L statement, but they do have a powerful impact on those receiving them! Use them, but use them wisely.
Thanks for reading this blog!
Thursday, August 21, 2008
Weird Week
You know those people who have only two speeds, neutral and sixth gear . . . well, I am one of those. Due to that or lots going on, I have had one of those weeks. We all have them . . .
1. Earlier this week, I leave my laptop in my hotel room. Yes, leave my laptop which has everything on it that I need to survive on an island! I am at the business meeting and realize my laptop is not in briefcase (yes, I have checked out). Luckily, I called the hotel and they got the laptop. With limited time between end of the meeting and the flight, I rushed to the hotel and sped on way to airport to catch my flight in time. Obviously, I had too much going on in my head to realize that my laptop was left in plain site on the table. Yikes.
2. I leave my blackberry on a plane. I know . . . I know . . . but it was a long taxi (plane taxi that is) ride to the gate and reviewed all my messages and then placed into the seat pocket and just plain forgot. Luckily, I had not made it to baggage claim when I realized and ran back to gate to get my blackberry (as the flight attendants were just leaving the plane). The time was midnight so it would have been tough to track someone down if I had realized a little later.
3. I am teaching a two-day statistics course in Boston this week. I put on my shirt and as I button up my shirt, not just one but two buttons break (I need to find a new cleaners as this happens way to often, well, one button usually breaks). No worries, I am wearing a tie so that will cover it up . . . little do I realize throughout the class (which I am standing 95% of the time), my shirt wants to continually be wide open (the broken buttons were next to each other). So, here I am looking like becoming incredible hulk (but the only thing expanding on me is my waist). I end up using a safety pin (after poking myself once, so much for safety).
What does this all mean(and its only thursday morning), not sure, rather get these things out of the way at once? However, I must say, while weird, there was a positive resolution to all of them. So, if you find something not going your way, try to look at the silver lining (i.e., the positive), and just laugh it off, life is way to short. At least in these cases, no harm was done and if you really think about, all of those are easily replaceable.
Hope your week is going better!
1. Earlier this week, I leave my laptop in my hotel room. Yes, leave my laptop which has everything on it that I need to survive on an island! I am at the business meeting and realize my laptop is not in briefcase (yes, I have checked out). Luckily, I called the hotel and they got the laptop. With limited time between end of the meeting and the flight, I rushed to the hotel and sped on way to airport to catch my flight in time. Obviously, I had too much going on in my head to realize that my laptop was left in plain site on the table. Yikes.
2. I leave my blackberry on a plane. I know . . . I know . . . but it was a long taxi (plane taxi that is) ride to the gate and reviewed all my messages and then placed into the seat pocket and just plain forgot. Luckily, I had not made it to baggage claim when I realized and ran back to gate to get my blackberry (as the flight attendants were just leaving the plane). The time was midnight so it would have been tough to track someone down if I had realized a little later.
3. I am teaching a two-day statistics course in Boston this week. I put on my shirt and as I button up my shirt, not just one but two buttons break (I need to find a new cleaners as this happens way to often, well, one button usually breaks). No worries, I am wearing a tie so that will cover it up . . . little do I realize throughout the class (which I am standing 95% of the time), my shirt wants to continually be wide open (the broken buttons were next to each other). So, here I am looking like becoming incredible hulk (but the only thing expanding on me is my waist). I end up using a safety pin (after poking myself once, so much for safety).
What does this all mean(and its only thursday morning), not sure, rather get these things out of the way at once? However, I must say, while weird, there was a positive resolution to all of them. So, if you find something not going your way, try to look at the silver lining (i.e., the positive), and just laugh it off, life is way to short. At least in these cases, no harm was done and if you really think about, all of those are easily replaceable.
Hope your week is going better!
Wednesday, August 20, 2008
Talent shortage
There will be a talent shortage, not a people shortage but a talent shortage (people with the right skills at the right time at the right location). There are many consequences of this shortage but I would like to address two of them. As a leader, it will be your main responsibility to ensure that retention is at the highest rate possible as you cannot afford to lose the talent you have. We are in a knowledge economy and you cannot let your intellectual capital walk out the door. Here are three ways to help retention (remember one of the most critical factors in people leaving is their relationship with their supervisor).
1. Inspire your team with a clear vision and mission for the business
2. Innovate around talent issues, think outside of the box, be different. Keeping the knowledge workers who might be retiring will be key (so think how you can provide some interesting avenues that these retiring workers can "ease" into retirement, so often, retirement is immediate and ends)
3. Develop staff by ensuring that you put into place trainings, seminars, mentoring programs (and don't cut these at the first sign of financial distress).
Now, on another note, for those that are in the HR field, talent shortage is positive news. When I meet with organizational heads, their most critical business issue is understanding their talent issues and future workforce planning needs. They are information rich, but intelligence poor, i.e., they have a tremendous amount of information on their staff but it is not aggregated which cannot provide insight. As an HR professional, you can be the true business partner that can have an impact on the business results. A firm that can help the organizational heads and HR professionals identify talent issues proactively and provide impactful insights will be very successful one.
Here is a quick blurb on the talent shortage.
Talent Shortage Looming
With baby boomers poised to retire, employers need to start planning for the future, experts say.
By: Ana Patricia
http://www.inc.com/news/articles/2008/08/retirement.html?partner=rss
1. Inspire your team with a clear vision and mission for the business
2. Innovate around talent issues, think outside of the box, be different. Keeping the knowledge workers who might be retiring will be key (so think how you can provide some interesting avenues that these retiring workers can "ease" into retirement, so often, retirement is immediate and ends)
3. Develop staff by ensuring that you put into place trainings, seminars, mentoring programs (and don't cut these at the first sign of financial distress).
Now, on another note, for those that are in the HR field, talent shortage is positive news. When I meet with organizational heads, their most critical business issue is understanding their talent issues and future workforce planning needs. They are information rich, but intelligence poor, i.e., they have a tremendous amount of information on their staff but it is not aggregated which cannot provide insight. As an HR professional, you can be the true business partner that can have an impact on the business results. A firm that can help the organizational heads and HR professionals identify talent issues proactively and provide impactful insights will be very successful one.
Here is a quick blurb on the talent shortage.
Talent Shortage Looming
With baby boomers poised to retire, employers need to start planning for the future, experts say.
By: Ana Patricia
http://www.inc.com/news/articles/2008/08/retirement.html?partner=rss
Employers need to start planning for a looming workplace talent shortage as legions of baby boomers approach retirement, according to the Life Options Institute, a New York-based retirement planning group.
"The coming talent shortage may force employers to overcome their age bias and introduce new opportunities with which to utilize this powerful asset," Joan Strewler-Carter, the group's co-founder said in a statement.
That includes encouraging retirement-age workers to remain on staff on a part-time basis to help train new employees, Strewler-Carter said. She cited a Merrill Lynch Retirement Study released in 2006 that found a growing number of baby boomers were willing to work past retirement.
Baby boomers are currently the fastest-growing segment of the U.S. labor force, according to the Labor Department. By 2014, about 20 percent of the workforce will be made up of workers over 65, estimates show.
Among other challenges, Strewler-Carter said employers will have to learn to adapt to the different needs of working retirees in the years ahead.
Tuesday, August 19, 2008
Integrity
Several years ago, I was interviewed by an MBA student about the core success value of a good leader. I immediately replied "integrity". Integrity has many attributes, e.g., honesty, trust, making consistent and fair decisions, etc.
This is the definition of integrity on dictionary.com:
in·teg·ri·ty Audio Help /ɪnˈtɛgrɪti/ Pronunciation Key - Show Spelled Pronunciation[in-teg-ri-tee] Pronunciation Key - Show IPA Pronunciation
–noun
1. adherence to moral and ethical principles; soundness of moral character; honesty.
2. the state of being whole, entire, or undiminished: to preserve the integrity of the empire.
3. a sound, unimpaired, or perfect condition: the integrity of a ship's hull.
Everything starts with integrity! Leaders without integrity might be able to achieve short term success, but not a long term sustainable and successful business.
This is the definition of integrity on dictionary.com:
in·teg·ri·ty Audio Help /ɪnˈtɛgrɪti/ Pronunciation Key - Show Spelled Pronunciation[in-teg-ri-tee] Pronunciation Key - Show IPA Pronunciation
–noun
1. adherence to moral and ethical principles; soundness of moral character; honesty.
2. the state of being whole, entire, or undiminished: to preserve the integrity of the empire.
3. a sound, unimpaired, or perfect condition: the integrity of a ship's hull.
Everything starts with integrity! Leaders without integrity might be able to achieve short term success, but not a long term sustainable and successful business.
Monday, August 18, 2008
Inspirational Leadership
All of us have managers, but have you had an inspirational leader before? I have and their are certain qualities that make them an inspirational leader. As a leader, are wanting to be just a manager or a leader that inspires your team to achieve extraordinary success? I found these ten roles of an inspirational leader; many of these roles I have discussed on previous postings. Do you inspire? Does your manager inspire?
Why Inspirational Leadership?
By: Vadim Kotelnikov
Inventor and Founder
Ten3 Business e-Coach
http://1000advices.com/guru/leadership_inspirational_10roles_vk.html
Why Inspirational Leadership?
By: Vadim Kotelnikov
Inventor and Founder
Ten3 Business e-Coach
http://1000advices.com/guru/leadership_inspirational_10roles_vk.html
Do you want to encourage extraordinary performance from your people? Do you want them to do great things?
If yes, then you must create an inspiring corporate culture that inspires, empowers and energizes them.
People do what they have to do for a manager, they do their best for an inspirational leader.
To inspire, you must both create resonance and move people with a compelling vision. You must embody what you ask of others, and be able to articulate a shared vision in a way that inspires others to act. You must offer a sense of common purpose beyond the day-to-day tasks, making work exciting, advises Steve Farber.
10 Roles of an Inspirational Leader
1. Provide an inspiring vision and strategic alignment, launch a crusade
2. Help people connect their personal goals to business goals
3. Make relentless innovation a religion
4. Encourage entrepreneurial creativity and experimentation
5. Involve everyone, empower and trust employees
6. Coach and train your people to greatness
7. Build teams and promote and teamwork, leverage diversity
8. Motivate, inspire and energize people, recognize achievements
9. Encourage risk taking
10. Make business fun
Saturday, August 16, 2008
Joke of the Weekend XVII
When I take a long time I'm slow
When my boss takes a long time he's thorough
When I don't do it I'm lazy
When my boss doesn't do it he's busy
When I make a mistake, I'm an idiot.
When my boss makes a mistake, he's only human.
When I do something without being told, I'm overstepping my authority
When my boss does the same, that's initiative
When I take a stand, I'm being bull-headed
When my boss does it, he's being firm.
When I overlooked a rule of etiquette, I'm being rude
When my boss skips a few rules, he's being original
When I'm out of the office, I'm wandering around
When my boss is out of the office, he's on business
When I'm on a day off sick, I'm always sick
When your boss is a day off sick, he must be very ill
When I apply for leave, I must be going for an interview
When my boss applies for leave, it's because he's overworked
When I please my boss I'm crawling
When my boss pleases his boss, he's co-operating
When I do good, my boss never remembers
When I do wrong, my boss never forgets........
When my boss takes a long time he's thorough
When I don't do it I'm lazy
When my boss doesn't do it he's busy
When I make a mistake, I'm an idiot.
When my boss makes a mistake, he's only human.
When I do something without being told, I'm overstepping my authority
When my boss does the same, that's initiative
When I take a stand, I'm being bull-headed
When my boss does it, he's being firm.
When I overlooked a rule of etiquette, I'm being rude
When my boss skips a few rules, he's being original
When I'm out of the office, I'm wandering around
When my boss is out of the office, he's on business
When I'm on a day off sick, I'm always sick
When your boss is a day off sick, he must be very ill
When I apply for leave, I must be going for an interview
When my boss applies for leave, it's because he's overworked
When I please my boss I'm crawling
When my boss pleases his boss, he's co-operating
When I do good, my boss never remembers
When I do wrong, my boss never forgets........
Friday, August 15, 2008
Years Go By
I am old. I don't feel old, but I am (although age is a relative thing). This is a good thing! I have "experience".
As many of the readers know, I have two sets of children: Two daughters who are attending university, and two sons that are in elementary school. Last week, I met with my oldest daughter (she will be a senior, woo hoo, no more tuition payments) and we had a couple of glasses of wine. It was a great time, we just talked and talked.
Last night, I spent a dinner and show with my youngest daughter and her friends. Again, we had a wonderful time. My cheeks are still hurting from constant laughter.
As I was running today, I thought about my little girls are no longer little and are real adults (yes, guess I am slow). Where did all those years go? Time should does fly by (and for some reason each year goes by faster, what's up with that?)
The point to the blog, as leaders, don't forget what is important to you! You can balance work and family, but you have to "work" at it.
As many of the readers know, I have two sets of children: Two daughters who are attending university, and two sons that are in elementary school. Last week, I met with my oldest daughter (she will be a senior, woo hoo, no more tuition payments) and we had a couple of glasses of wine. It was a great time, we just talked and talked.
Last night, I spent a dinner and show with my youngest daughter and her friends. Again, we had a wonderful time. My cheeks are still hurting from constant laughter.
As I was running today, I thought about my little girls are no longer little and are real adults (yes, guess I am slow). Where did all those years go? Time should does fly by (and for some reason each year goes by faster, what's up with that?)
The point to the blog, as leaders, don't forget what is important to you! You can balance work and family, but you have to "work" at it.
Thursday, August 14, 2008
Think About It
I have shared a few quotes on this blog. Consequently, several people emailed a few quotes. ust remember, some of the funniest quotes are not by famous people but your friends, colleagues, or families (I know I have tons and they still crack me up when I think about them). My favorite is the first one.
Some cause happiness wherever they go, others whenever they go.
Oscar Wilde
Character is that which can do without success
Ralph Waldo Emerson
In Aristotelian terms, the good leader must have ethos, pathos and logos. The ethos is his moral character, the source of his ability to persuade. The pathos is his ability to touch feelings, to move people emotionally. The logos is his ability to give solid reasons for an action, to move people intellectually.
Mortimer Adler
No one can possibly achieve any real and lasting success or "get rich" in business by being a conformist.
J Paul Getty
To be great is to be misunderstood
Ralph Waldo Emerson
Some cause happiness wherever they go, others whenever they go.
Oscar Wilde
Character is that which can do without success
Ralph Waldo Emerson
In Aristotelian terms, the good leader must have ethos, pathos and logos. The ethos is his moral character, the source of his ability to persuade. The pathos is his ability to touch feelings, to move people emotionally. The logos is his ability to give solid reasons for an action, to move people intellectually.
Mortimer Adler
No one can possibly achieve any real and lasting success or "get rich" in business by being a conformist.
J Paul Getty
To be great is to be misunderstood
Ralph Waldo Emerson
Wednesday, August 13, 2008
Get out of the Way!
It happened to Steven Jobs (although he has returned). . . and many others. An entrepreneur builds a business from scratch, drives growth and then . . . . At some point in time, the entrepreneur needs to hire an Operations-oriented leader to drive the business to the next level. The startup business is no longer in startup mode but a viable unit. The skill set needed for building the initial business is very different than operating a growth business. The leader needs to delegate responsibility, listen to your staff, operationalize decision making and sometimes, get out of the way!
Here is an article from Forbes.com on the topic.
Getting To The Next Level
Nice Little Business--Now Get Out Of The Way
Dale Buss
Here is an article from Forbes.com on the topic.
Getting To The Next Level
Nice Little Business--Now Get Out Of The Way
Dale Buss
Business is starting to take off, and beyond the window is nothing but blue sky. Just one problem: you. Despite what your ego says, you probably aren't capable of piloting your small business to the next level.
That's why Stephen Lowit, co-founder of iSymmetry, handed the controls to someone who could. Back in 2005, after six years in business, the Alpharetta, Ga.-based IT-services firm had plateaued at about $20 million in revenues. That's when Lowit and his three partners, all family members, brought Bruce Culbert, a former senior executive at BearingPoint (nyse: BE - news - people ) and Salesforce.com (nyse: CRM - news - people ), on board--first as a consultant, then later as chief executive. Culbert, they believed, had the management chops to catapult the company to the $100 million mark.
Sure enough, Culbert shook up iSymmetry's organizational structure, eliminated redundant roles and focused Lowit on what he did best: dealmaking. "Now we have an outside shot at smashing $40 million in revenues already this year," says Lowit. "And that's just within 18 months."
In stepping aside, Lowit has plenty of illustrious company. Take Howard Schultz, founder of the now ubiquitous Starbucks (nasdaq: SBUX - news - people ) coffee chain. After an already scorching run, in 2000 Schultz handed the reins to Orin Smith, who managed to more than triple the number of locations to 8,500 before retiring in 2005. Web-auctioneer eBay (nasdaq: EBAY - news - people ) was ready for a public offering just three years after it launched in 1995, yet founder Pierre Omidyar was smart enough to know he couldn't take the company through the IPO and beyond. Enter CEO Meg Whitman, a Hasbro (nyse: HAS - news - people ) general manager who never even heard of eBay but who knew how to manage for growth. EBay's current market cap: $45 billion. And then there's Herb Kelleher, co-founder of Southwest Airlines (nyse: LUV - news - people ). After battling regulators to establish an industry iconoclast, Kelleher in 1978 installed Howard Putman, who tripled Southwest's revenues and profits in three years.
"Most entrepreneurs end up being in their own way, being stubborn and ignorant, not knowing what to do or what they don't know," says Murray Smith, founder of OneCoach, a Toronto-based consultant to start-ups.
Indeed, letting go is something that many entrepreneurs--often a controlling, egocentric lot--find hard to accept. "The biggest mistake founders often make is that they see their company as a way of getting in charge," says serial entrepreneur Treb Ryan, founder of OpSource, a Santa Clara, Calif., manufacturing-software outfit. "If you just want to be in charge, get an MBA and work your way up through an organization."
Then there's that whole nagging feeling of parental attachment. Last month, Adam Bold, founder of the Mutual Fund Store, an Overland Park, Kan.-based investment-advisory firm with 54 offices nationwide, turned the keys over to David Byers, a senior manager at H&R Block (nyse: HRB - news - people ). While Bold knew that stepping aside was the smart move if he ever wanted his firm to join the ranks of Fidelity and Merrill Lynch (nyse: MER - news - people ), he admits letting go was tough: "[The company] was my baby," he says. "I nurtured this thing from the very beginning."
Tougher still is finding good help. Of course you want someone with proven experience in managing growing companies, preferably those in your industry, but where to find those people?
Dave Driggers, founder of Verari Systems, a San Diego-based computer solutions firm, went shopping among the members of his advisory board. In order to take his $100 million (sales) company to $250 million, he knew he needed leadership in two key areas: sales-channel development and service support. David Wright, former chief of Amdahl, a supercomputer company, had joined Verari's board in late 2005 and had loads of marketing experience. By mid-2006, Wright became chief executive. The other comforting thing about the appointment, says Driggers: "It would have been much tougher to hand it over if David weren't already connected to the company."
The final challenge when stepping aside: Where do you go?
John Frank--founder of MetaCarta, which sells geographic search software--went back to what he did best: technology. After hiring a new chief executive in 2003, Frank got out of management completely and plunged back into improving the company's mapping solutions. He also enrolled in graduate school and worked out of a field office in Washington State, far from the headquarters in Cambridge, Mass.
"If you don't find some way to step out deliberately, you can't emotionally let go," Frank says. "The thing to figure out is which decisions I still really have to be there for."
Tuesday, August 12, 2008
Enthusiasm
Enthusiasm is key to success of anything you do (whether leading a business, accomplishing a project, playing a sports match, teaching an education event, etc.). If you are not liking what you are doing (i.e, nonchalant), I am sure you will not reach optimality. When I have hired, I prefer hiring enthusiastic people even over a smarter or more skilled individual. When I want to be on a team, I want to join a team that has the most enthusiasm. You know those enthusiastic people, they are the ones that you want to report to or ones where you want to join their lunch table.
To do something at your best, you need to be enthusiastic! So, jump in with both feet, be passionate and have fun.
I found this quote by Edward Butler:
"Every person is enthusiastic at times. One person has enthusiasm for thirty minutes - another person has it for thirty days, but it is the person who has it for thirty years who makes a success in life."
To do something at your best, you need to be enthusiastic! So, jump in with both feet, be passionate and have fun.
I found this quote by Edward Butler:
"Every person is enthusiastic at times. One person has enthusiasm for thirty minutes - another person has it for thirty days, but it is the person who has it for thirty years who makes a success in life."
Sunday, August 10, 2008
Growing from $25MM to $100MM
As I review the landscape for acquisitions at varying size ranges, I find organizations around $15MM to $25MM are interesting because they have achieved an impressive revenue level, have a good management team that knows the business, have scale, but have sometimes "topped" out and need some new ways of thinking to take to the next level. If you want to take a business from $25MM to $100MM, you need to think differently. Here are a few tips from Forbes Online.
http://www.forbes.com/entrepreneurs/2007/05/02/caliper-intuit-microsoft-ent-manage-cx_mc_0503growthtips.html?feed=rss_entrepreneurs
1. Embrace the identity crisis. Chances are you've already experimented with multiple product lines, price points and the like. But getting to $100 million means really having to think broadly about what businesses you're in--and be willing to cut loose underperforming lines and reinvest in stronger ones. "That's a big switch from early-stage companies, where it was about laser, single-minded focus," says Highland Capital's Maeder.
2. Ante up. Old-fashioned economies of scale (and lots of hard work) may have been enough to hoist you to double-digit revenues. To hit triple digits, chances are you're going to have to risk some serious capital--on equipment, real estate, marketing, whatever it takes. When Guernsey made the leap, he cringed at borrowing up to $8 million for extra storage space, delivery vans, tractor trailers and other distribution capabilities. "What I borrowed far exceeded my net worth," he admits. "It was scary, but we needed a new level of sophistication to serve larger customers in order to grow." Note: Scaring up that capital means having a clear vision for how you plan to put it to use; without that, don't bother asking.
3. Go public. The investment to get to $100 million in sales may be far greater than either the cash generated by your business or what your lenders are willing to put on the line. One solution: selling shares to the public. Such financing comes at a price, however, so think long and hard before you decide.
4. Get global. Few will argue that being able to compete these days requires an international strategy--and not just because of cheap labor in places like China, India and Vietnam. Emerging markets are also a wellspring of consumer demand.
5. Take a hard look at management--again. Some people are start-up managers, others are later-stage managers and still others have the ability to think globally. By the time your company has reached $25 million in sales, it may be time to reevaluate the team. (That goes for your advisory board, too.)
http://www.forbes.com/entrepreneurs/2007/05/02/caliper-intuit-microsoft-ent-manage-cx_mc_0503growthtips.html?feed=rss_entrepreneurs
1. Embrace the identity crisis. Chances are you've already experimented with multiple product lines, price points and the like. But getting to $100 million means really having to think broadly about what businesses you're in--and be willing to cut loose underperforming lines and reinvest in stronger ones. "That's a big switch from early-stage companies, where it was about laser, single-minded focus," says Highland Capital's Maeder.
2. Ante up. Old-fashioned economies of scale (and lots of hard work) may have been enough to hoist you to double-digit revenues. To hit triple digits, chances are you're going to have to risk some serious capital--on equipment, real estate, marketing, whatever it takes. When Guernsey made the leap, he cringed at borrowing up to $8 million for extra storage space, delivery vans, tractor trailers and other distribution capabilities. "What I borrowed far exceeded my net worth," he admits. "It was scary, but we needed a new level of sophistication to serve larger customers in order to grow." Note: Scaring up that capital means having a clear vision for how you plan to put it to use; without that, don't bother asking.
3. Go public. The investment to get to $100 million in sales may be far greater than either the cash generated by your business or what your lenders are willing to put on the line. One solution: selling shares to the public. Such financing comes at a price, however, so think long and hard before you decide.
4. Get global. Few will argue that being able to compete these days requires an international strategy--and not just because of cheap labor in places like China, India and Vietnam. Emerging markets are also a wellspring of consumer demand.
5. Take a hard look at management--again. Some people are start-up managers, others are later-stage managers and still others have the ability to think globally. By the time your company has reached $25 million in sales, it may be time to reevaluate the team. (That goes for your advisory board, too.)
Saturday, August 9, 2008
Joke of the Weekend XVI
Ten great reasons to go to work naked
10. No-one ever steals your chair.
9. Gives "bad hair day" a whole new meaning.
8. Diverts attention from the fact that you also came to work drunk.
7. People stop stealing your pens after they've seen where you keep them.
6. You want to see if it's like the dream.
5. To stop those creepy programmer guys from looking down your blouse.
4. "I'd love to chip in... but I left my wallet in my pants."
3. It's an inventive way to finally meet that 'special' person in Human Resources.
2. You can take advantage of your computer monitor radiation to work on your tan.
And ... drum roll ... the Number One reason to go to work naked :
1. Your boss will never say, "I wanna see your ass in here by 8:00!" ever again.
10. No-one ever steals your chair.
9. Gives "bad hair day" a whole new meaning.
8. Diverts attention from the fact that you also came to work drunk.
7. People stop stealing your pens after they've seen where you keep them.
6. You want to see if it's like the dream.
5. To stop those creepy programmer guys from looking down your blouse.
4. "I'd love to chip in... but I left my wallet in my pants."
3. It's an inventive way to finally meet that 'special' person in Human Resources.
2. You can take advantage of your computer monitor radiation to work on your tan.
And ... drum roll ... the Number One reason to go to work naked :
1. Your boss will never say, "I wanna see your ass in here by 8:00!" ever again.
Friday, August 8, 2008
Organize to Innovate
Continuous improvement is no longer the name of the game for growth. Continuous Innovation is ... if you do not have an innovation agenda, the competition, especially new entrants will pass you by. You will see small changes at first, lower growth than previously, losing larger clients, turnover of key staff . . . I believe that innovation needs to be an integral part of the culture of an organization. As a Leader, you want to create an environment where you allow people to push the envelope (including allowing people to make mistakes, and that's okay) of new ideas, business models, products. I have heard leaders say "we want to innovate", but without action they become empty words. You must implement organizational changes and take actions that demonstrate and showcase that you back up your words you want innovation.
The following is a short excerpt from the recently released book, The Innovator's Guide to Growth by Scott D. Anthony, president of Innosight, Mark W. Johnson, chairman and co-founder of Innosight, Joseph V. Sinfield, a partner at Innosight, and Elizabeth J. Altman, a vice president of strategy and business development at Motorola. It is an excellent book if you really want to be a growth business.
http://www.forbes.com/leadership/2008/07/21/innovation-engine-procterandgamble_leadership_clayton_in_sa_0722claytonchristensen_inl.html
Rev Up Your Innovation Engine
The Innovator's Guide to Growth
The following is a short excerpt from the recently released book, The Innovator's Guide to Growth by Scott D. Anthony, president of Innosight, Mark W. Johnson, chairman and co-founder of Innosight, Joseph V. Sinfield, a partner at Innosight, and Elizabeth J. Altman, a vice president of strategy and business development at Motorola. It is an excellent book if you really want to be a growth business.
http://www.forbes.com/leadership/2008/07/21/innovation-engine-procterandgamble_leadership_clayton_in_sa_0722claytonchristensen_inl.html
Rev Up Your Innovation Engine
The Innovator's Guide to Growth
“Organizing to innovate” is no small task. It goes beyond providing one team with resources and autonomy to pursue a specific idea. It is about creating an environment in which carefully chosen resources can reliably examine, prioritize and develop an array of new growth opportunities.
It is also important to note that “organizing to innovate” is different from “organizing for research and development.” Innovation goes beyond research and development. A properly structured innovation engine considers new business models, creative financing approaches, unique partnership strategies and, of course, more traditional technology levers.
Is your business about to be torpedoed by a "disruptive attacker?" Click here to stay ahead of the curve with Clayton Christensen's Strategy & Innovation newsletter.
There are innumerable ways to organize to innovate. At one extreme you have Procter & Gamble's (nyse: PG - news - people ) FutureWorks division, a fully staffed team that is chartered with identifying, developing and seeding new growth platforms for the corporation. At the other extreme, you have the Learning & Development unit within agrochemical giant Syngenta (nyse: SYT - news - people ). The small unit’s goal is to build the innovative and leadership qualities of the company’s executives and managers. Large companies oftentimes--appropriately--have multiple innovation structures working simultaneously.
Our belief is that there is no one-size-fits-all way to organize for innovation. Rather, in order to pick the most appropriate structure (or structures), companies need to assess the strategic goals of their innovation structure and the degree to which active management is required to achieve those goals.
Picking a Strategic Goal
The mission of an innovation unit may encompass all, or only a piece of, the overall innovation activity in a company. Some units simply enhance the “innovative mindset” of an organization. Others seed the broader organization with good ideas. Still others drive the organization’s growth and profitability. In essence, however, senior management can choose to pursue one of four fundamental goals.
1. Stimulate innovation by broadening awareness and building skills. Companies that choose this path typically believe that their organization has the right basic infrastructure to support innovation. However, they believe that managers and teams need help solving practical innovation problems, developing new mindsets or gaining exposure to important external developments.
2. Shepherd innovation by championing innovation efforts and removing obstacles that would otherwise limit the potential for innovative ideas to succeed. This is a more hands-on approach that helps to nurture and safeguard innovative efforts but still relies on the rank and file to drive individual initiatives.
3. Spearhead innovation by providing the resources and environment to take ideas from concept to commercialization. This more resource-intensive approach seeks to build new growth initiatives. Companies that follow this approach generally believe that “business as usual” won’t allow them to meet their innovation objectives.
4. Source innovation by borrowing, acquiring or participating in innovative efforts outside the organization. Companies that choose this path do so because they wish to participate in innovative efforts well outside of their core, see little promise of internal innovation or are looking for ways to augment internal efforts without distracting the core.
Thursday, August 7, 2008
Social Networking and Business
Many of us are using LinkedIN, Facebook, etc. but how can you use this as a business opportunity. Web 2.0 is growing in interest for businesses (e.g., social networking, collaboration). I found this article on the Business Week site. As a leader, these sites can connect you with other leaders, prospects and customers. Social networking is new and I recommend trying it as you never know who you might just meet or re-engage a previous colleague.
Are Social Networking Sites Useful for Business?
To get the most out of social networking sites, small companies should look past the hype, set concrete business goals, then start experimenting
by Karen E. Klein
Are Social Networking Sites Useful for Business?
To get the most out of social networking sites, small companies should look past the hype, set concrete business goals, then start experimenting
by Karen E. Klein
Social networking online seems to be exploding: Facebook, LinkedIn, Twitter, Digg, and so on. When I ask how these sites can help my business, the answers can be vague. I am trying to relate it to face-to-face networking, which includes sharing ideas, information, and resources with other businesses. Are these sites useful for those goals? There is only so much time in my day and I need to use it effectively. —B.H., Scarborough, Me.
You are correct that social networking is a rapidly growing, headline-grabbing phenomenon. The question for entrepreneurs is how to tap into this trend as a business opportunity, rather than simply a way to connect—or reconnect—with people, says Peter Delgrosso, strategic vice-president for corporate communications with Web.com (WWWW).
"For the most part, these social networking sites should be viewed as complementary to your online presence. Think of it as a nice-to-have, not a must-have," he says. "When used properly, it is something that can gain your business some attention. However, you need to realize it shouldn't be seen as a replacement to your traditional online presence."
Greg Sterling, of Sterling Market Intelligence, considers social network sites primarily for meeting people, asking for advice or referrals and, carefully, doing online marketing. The uses vary by application or site, he notes: "Sites such as LinkedIn can be helpful in connecting with people you want to meet for one reason or another. Twitter and Facebook can be helpful when you're trying to notify a group of people about something you want to promote or about a happening of some kind."
Find Your Networking Niche
Take a few minutes—it doesn't have to be extensive—to look over the top sites and experiment to see what works for you. Even an hour or two a week can help you figure out which sites you like best and are most effective for your particular business. "The viral nature of social networking is quite extraordinary and something that can garner a lot of attention to your efforts in a hurry," Delgrosso says.
He thinks the best site for both networking and human resources purposes is LinkedIn. "The site requires some résumé creation, then offers the opportunity to link in to other like-minded professionals. When used selectively, it can be a very powerful tool for identifying new business partners, new employees, or simply building your personal or business presence," he says.
For gaining exposure to larger audiences, he recommends Facebook: "Consider establishing or joining a network on Facebook based on your business or industry category to tap into people's affinity for the topic. By doing this, you'll cut through the clutter and clearly establish your niche, keeping the interaction focused on the specific subject matter."
Rick Julian, CEO and chief creative officer of Quo Vadis, a startup brand communications agency, says he's getting a positive return on his investment from using social media sites for the past year. "It puts a human face on your business and allows people to get an impression of what a relationship with you would be like. When all things remain equal, people want to work with people they think they'll have an interesting relationship with," Julian says.
His firm is represented on five major social networking sites, including YouTube (GOOG) and his blog, and a couple of smaller ones.
"Geometric Extension" and Search Optimization
It sounds like a full-time job, but Julian points out that you can cut and paste some of your content from site to site. "If I put up a YouTube video to create awareness, I might have some discussion on YouTube with the responders and then also put it on my blog, on my Facebook company page, and promote a link to it on Twitter. Just by generating that single asset, I've populated all those networks with content without having to come up with an original piece of content for each of them. There's a geometric extension of your reach," he says.
Robert Jenson, CEO of the Las Vegas-based realty firm the Jenson Group, takes a strictly corporate approach to social networking. "Rather than blogging stream-of-consciousness opinions or using the venue as a diary of sorts, I educate visitors on important, universal industry matters. I try my utmost to ensure the content I post is not just applicable and of interest to those in Las Vegas, where I operate, but also to any real estate consumer nationwide," he says.
He puts bylined articles he's written on his own blog and on social networking sites and uses them to establish his credibility as a real estate expert. "This serves as a 'risk reliever' for both prospective consumers and business affiliates, while also increasing my chances for media coverage by establishing myself as a reliable expert source," Jenson says.
Last, but definitely not least, is the value of social networking sites to search engine optimization (BusinessWeek, 6/20/08). The more sites that include your name and link back to your Web site or blog, the higher your profile rises in search engines, where more and more of your customers are likely to find you, Jenson says.
Wednesday, August 6, 2008
Leadership Gap
IBM recently released a Human Capital Study 2008, a survey of 400 leading HR Executives in 40 different countries (it is a good study, if you have time to review it, just go to their website and download). IBM does some terrific studies.
I found the figure below rather interesting (among many discussing the leadership gap).
Figure 9. Which are the most significant capability-building challenges facing your organization today?
Building leadership talent ~80%
Fostering a culture that supports learning and development ~40%
Rotating leadership talent across business units/geographies ~38%
Passing on knowledge from older to younger employees ~30%
Forecasting skills needed in the near future ~28%
Cross-training individuals needed in other parts of the organization ~27%
Rapidly getting new employees up to speed ~25%
Developing basic skills across the employee base ~18%
Measuring the effectiveness of learning and development activities ~15%
Please note that Leadership talent was the issue in two of the top three challenges. As I have said before, leadership is a key competency and it is extremely important that you retain your leaders and spend considerable time building leadership talent. This is critical for the future success of your organization. Leaders do not grow on trees, they are made one at a time.
If you are a leader, this is a great opportunity for you. If you want to be a leader, spend time investing in yourself . . . skills, career, interesting projects, also try to find a role whereby you can lead which will gain experience and hopefully with a solid track record, you can continue to take on larger leadership roles.
I found the figure below rather interesting (among many discussing the leadership gap).
Figure 9. Which are the most significant capability-building challenges facing your organization today?
Building leadership talent ~80%
Fostering a culture that supports learning and development ~40%
Rotating leadership talent across business units/geographies ~38%
Passing on knowledge from older to younger employees ~30%
Forecasting skills needed in the near future ~28%
Cross-training individuals needed in other parts of the organization ~27%
Rapidly getting new employees up to speed ~25%
Developing basic skills across the employee base ~18%
Measuring the effectiveness of learning and development activities ~15%
Please note that Leadership talent was the issue in two of the top three challenges. As I have said before, leadership is a key competency and it is extremely important that you retain your leaders and spend considerable time building leadership talent. This is critical for the future success of your organization. Leaders do not grow on trees, they are made one at a time.
If you are a leader, this is a great opportunity for you. If you want to be a leader, spend time investing in yourself . . . skills, career, interesting projects, also try to find a role whereby you can lead which will gain experience and hopefully with a solid track record, you can continue to take on larger leadership roles.
Tuesday, August 5, 2008
Being Happy
I graduated from a small high school (graduation class of 69 students) . . . to extend the graduation ceremony (otherwise, it would have been over in . . . oh . . . thirty minutes or less, that's no fun), you were able to provide a quote that would be read as you walked across the stage.
My quote was:
Happy are those who dream dreams and are ready to pay the price to make those dreams come true!
Bottom line: Happiness and making our dreams happen are up to all of us as individuals!
My quote was:
Happy are those who dream dreams and are ready to pay the price to make those dreams come true!
Bottom line: Happiness and making our dreams happen are up to all of us as individuals!
Monday, August 4, 2008
Stay with your Core
This weekend, I attempted to wakeboard (for those that might not know, this is basically snowboarding behind a boat). Years ago, I was a decent water skier, but this is 2008 and wakeboarding is very popular. A family member (my sister's husband's sister's son . . . yes, we have lots of family in Central Texas) invited us on Lake Austin. After watching him wakeboard (he made it look easy with all sorts of tricks, etc.), he asked if I wanted to try . . . so, I said, why not, I can waterski, this does not look that hard . . . of course, I was not thinking he was 20 years my junior.
After many attempts and drinking two six-packs of Lake Austin, I called it quits and never got up.
Why talk about this on a leadership blog? Well, it reminds me that some leaders review the business landscape and see that some companies are performing well in a particular space, so they say "that is a good opportunity, we can do that too". They place significant resources on a new business initiative . . . only to never have success after many attempts.
The learning is to stay with your core business competencies. If you must branch out to new areas, focus on opportunities that are smart adjacencies to your existing business so it is a natural expansion, i.e., leveraging your strengths. Otherwise, you might wake up the next morning, sore and bruised, aka an old guy who tried to learn a new trick!
After many attempts and drinking two six-packs of Lake Austin, I called it quits and never got up.
Why talk about this on a leadership blog? Well, it reminds me that some leaders review the business landscape and see that some companies are performing well in a particular space, so they say "that is a good opportunity, we can do that too". They place significant resources on a new business initiative . . . only to never have success after many attempts.
The learning is to stay with your core business competencies. If you must branch out to new areas, focus on opportunities that are smart adjacencies to your existing business so it is a natural expansion, i.e., leveraging your strengths. Otherwise, you might wake up the next morning, sore and bruised, aka an old guy who tried to learn a new trick!
Sunday, August 3, 2008
Joke of the Weekend XVb
Ten best things to say if you get caught sleeping at your desk
10."They told me at the blood bank this might happen."
9."This is just a 15 minute power nap like they raved about in that time management course you sent me to."
8. "Whew! Guess I left the top off the white out. You probably got here just in time."
7. "I wasn't sleeping, I was meditating on the mission statement and envisioning a new paradigm."
6. "I was testing my keyboard for drool resistance."
5. "I was doing a highly specific Yoga exercise to relieve work-related stress. Do you discriminate against people who practice Yoga?"
4. "Why did you interrupt me? I had almost figured out a solution to our biggest problem."
3. "The coffee machine is broken."
2. "Someone must have put decaf in the wrong pot."
1. " ... in God's name, Amen."
10."They told me at the blood bank this might happen."
9."This is just a 15 minute power nap like they raved about in that time management course you sent me to."
8. "Whew! Guess I left the top off the white out. You probably got here just in time."
7. "I wasn't sleeping, I was meditating on the mission statement and envisioning a new paradigm."
6. "I was testing my keyboard for drool resistance."
5. "I was doing a highly specific Yoga exercise to relieve work-related stress. Do you discriminate against people who practice Yoga?"
4. "Why did you interrupt me? I had almost figured out a solution to our biggest problem."
3. "The coffee machine is broken."
2. "Someone must have put decaf in the wrong pot."
1. " ... in God's name, Amen."
Saturday, August 2, 2008
Joke of the Weekend XV
Dilbert's Words of Wisdom
1. I can please only one person per day. Today is not your day. Tomorrow's not looking good either.
2. I love deadlines. I especially love the swooshing sound they make as they go flying by.
3. Tell me what you need, and I'll tell you how to get along without it.
4. Accept that some days you're the pigeon, and some days you're the statue.
5. Needing someone is like needing a parachute. If he isn't there the first time you need him, chances are you won't be needing him again.
6. I don't have an attitude problem. You have a perception problem.
7. On the keyboard of life, always keep one finger on the escape key.
8. I don't suffer from stress - I'm a carrier...
9. Everybody is somebody else's weirdo...
10. Never argue with an idiot. They drag you down to their level then beat you with experience.
1. I can please only one person per day. Today is not your day. Tomorrow's not looking good either.
2. I love deadlines. I especially love the swooshing sound they make as they go flying by.
3. Tell me what you need, and I'll tell you how to get along without it.
4. Accept that some days you're the pigeon, and some days you're the statue.
5. Needing someone is like needing a parachute. If he isn't there the first time you need him, chances are you won't be needing him again.
6. I don't have an attitude problem. You have a perception problem.
7. On the keyboard of life, always keep one finger on the escape key.
8. I don't suffer from stress - I'm a carrier...
9. Everybody is somebody else's weirdo...
10. Never argue with an idiot. They drag you down to their level then beat you with experience.
Friday, August 1, 2008
Providing Workarounds
Sometimes it’s the little things that customers appreciate. Here are two events which display some thinking outside box on customer service. These real-life events show how inferior products can be used to achieve superior customer support. When did you last see this in action? And more importantly, what do clients value more, superior product or superior support?
[CASE #1] The office coffee machine was broken. The repairman came in the morning to fix it. It’s one of those fancy types which can make a coffee/expresso/cappuccino at the touch of a button. He wheeled in his equipment, and the first thing he did was to take out a little old Mr. Coffee machine (you know the kind your parents used to have). He started his work by brewing up a pot the old-fashioned way for people to use while he’s working. With Mr. Coffee perking away, he started in with his tools to get the fancy machine repaired. Even though he delivered inferior product to them (Mr. Coffee), he delivered superior customer support.
[CASE #2] A database administrator messed up a report delivery for a large client. The client had been waiting four days for the report to be corrected. The client was frantic for the data. It was a complex issue that the database administrator was not able to resolve, and the customer service person was worried that this delay would put the account in jeopardy. In desperation, the customer service person talked to the DBA and instead sent the client a spreadsheet with the report data straight from the SQL tables in a raw format. It was not very pretty to look at, but it was the data the client needed to get their analysis done. And instead of being angry that a report was broken, the client was thrilled that they had the information they needed to do their work. So again, we see an inferior product used to provide superior support. And instead of losing an account, the company was able to strength the relationship with the client.
Neither solution is ideal. But both work. And in both cases the client is happy with the service. The clients feel like they are getting special treatment when in fact they are getting an inferior product. It is the little things that retain clients. Leaders need to highlight examples like these so that it becomes second nature within their units.
[CASE #1] The office coffee machine was broken. The repairman came in the morning to fix it. It’s one of those fancy types which can make a coffee/expresso/cappuccino at the touch of a button. He wheeled in his equipment, and the first thing he did was to take out a little old Mr. Coffee machine (you know the kind your parents used to have). He started his work by brewing up a pot the old-fashioned way for people to use while he’s working. With Mr. Coffee perking away, he started in with his tools to get the fancy machine repaired. Even though he delivered inferior product to them (Mr. Coffee), he delivered superior customer support.
[CASE #2] A database administrator messed up a report delivery for a large client. The client had been waiting four days for the report to be corrected. The client was frantic for the data. It was a complex issue that the database administrator was not able to resolve, and the customer service person was worried that this delay would put the account in jeopardy. In desperation, the customer service person talked to the DBA and instead sent the client a spreadsheet with the report data straight from the SQL tables in a raw format. It was not very pretty to look at, but it was the data the client needed to get their analysis done. And instead of being angry that a report was broken, the client was thrilled that they had the information they needed to do their work. So again, we see an inferior product used to provide superior support. And instead of losing an account, the company was able to strength the relationship with the client.
Neither solution is ideal. But both work. And in both cases the client is happy with the service. The clients feel like they are getting special treatment when in fact they are getting an inferior product. It is the little things that retain clients. Leaders need to highlight examples like these so that it becomes second nature within their units.
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