Building Shareholder Value Through Your People
March 13, 2010
Increasing shareholder value is the most important driver for organisations in the modern business world. Shareholder value is built through growing profit and building confidence in the organisation, which moves share prices upwards. Shareholders like this!And the employees of an organisation have a crucial part to play in both elements of this.
They contribute to sales by selling more, both to new and old customers. They build the customer base by word of mouth from existing customers. New customers are pre-filtered because your existing customers tell them exactly what you do, so more customer interactions are converted, with less wasted time. This means that your costs are kept down.
Your people buy better because they build great relationships with suppliers - so they get the best deals. Both sides win, so the relationship blossoms.
Great people in your organisation work hard to keep costs low, because they are enabled to do so. They have freedom to be creative. They get very focused on the ‘Does it create value?’ question and work together, with the best results as their only goal.
With all this positive activity, the organisation looks and feels strong to it’s customers, suppliers and shareholders. With this and a great profit performance, confidence grows.
How to Make a Difference Every Day
March 4, 2010
Every day, everyone can make the world a better place. It’s simple; it’s quick and it is free. All it requires is a recipe containing you (yes, that’s YOU!), awareness and a natural disposition to be brave enough to change the day of everyone you come into contact with in a positive way.Appreciating what people do for you, whenever you come into contact with them is the first step. It may not sound much, but saying a sincere ‘Thank You’ means much to many people - it is not what they experience normally. This can be a ‘Thank You’ to someone who holds a door open for you to the guy you buy your morning paper from. It can be to an employee who you manage, for something, for goodness sakes, for anything they did well - in the moment, sincerely.The next step, when it is comfortable for you, is to explain what it was they did that was great. So, as an example, it could be to an employee who you manage,‘Thank you for that piece of work, your effort has made such a difference to it’.It could be a ‘Well done’ as you stand in front of a display of merchandise‘What I especially like about it, is how you made such a great impact with the cornflakes’Outside your place of work, you buy a sandwich,‘Thank you - can I just say what a great job you did putting that together for me; I truly appreciate it’.Sharing positive observations that people might not see in themselves, because there is not enough positive feedback in the world creates positivity.You can make a difference to literally dozens of people every day and makes their lives brighter. And how do you think they will respond to the next customer; and the next. Research shows that they will be buzzing for the next 5 interactions with others. Maybe they will ‘Pay it Forward’ as in the film. (Not seen it - do so!). This is about small things that you can do every day. And if you can’t do it consistently? Just do it sometimes and that is much, much better than never at all.You may never know the positive difference you have made to someone you spend a little time, a little courtesy with - but you will have to live with that delicious ‘not knowing’!Tip? Set yourself a target of doing this five times a day - and if you do, give yourself a pat on the back! This works in business and the real (:-)) world too!
Are You Prepared for a Disaster?
February 26, 2010
Yesterday I look at my calendar and saw that my newsletter was on my calendar for today. I wondered what I would write about. By the end of the day, I had my topic. Back-up and Recovery System.
Are you prepared for a disaster? Around 2pm yesterday I looked up from my computer and saw a reflection of smoke. I knew right away someone’s home was on fire. Thinking it was one of the homes behind me I stepped out my patio door. It was the house right beside mine that had caught fire. I immediately went out front to find two members of the family in shock. I found out 911 had been called and no one else was at home. The fire department was there within moments and started fighting the fire. I, like a lot of my neighbors, stood outside and watched with sympathy as this single mother with five children lost everything they owned.
It always happens to somebody else, right? Not all the time. One minute my neighbor’s house was on fire, the next, a whole opened up in their attic and the most amazing ball of flames shot directly towards my house. It was at that time I realized that I could also lose my home. I went in, grabbed my purse and my dog and was back out in the driveway. As I stood there I realized I didn’t follow my plan.
Middle Managers Behaving Badly ? How To Stop This Damaging Your Results
February 18, 2010
More and more I hear and read about a looming crisis of leadership at the middle management level and the inevitable resulting increase in, poor performance, accidents and production mistakes and hence declining profits.
I’m afraid to say these observations are not just rumours. In my own work as a management consultant I’ve noticed a distinct increase in negative behaviours in many middle managers in all sorts of companies.
In this short article I’ll explain what I mean by "negative behaviours" offer suggestions on what senior managers can do about it.
Over the past four years I’ve noticed the following kinds of behaviours from many middle managers:
· Increasingly using harsh, abrupt language: "Don’t be so stupid". "I don’t care what the problem is just get it fixed"
· Becoming more dictatorial (unwilling to listen) "Yes, I know all that now do it this way"
· Putting time pressure on people by continually asking when jobs will be completed and why things are taking so long
· Losing tempers and insulting others when things go wrong
· Unwilling to take the time to read, seek advice and think things out carefully
Nine Vital Lessons For Avoiding Training Fads That Waste Time, Money and Enthusiasm
February 10, 2010
Unfortunately, at least two thirds of much of the training and development effort undertaken by organisations to develop their people is wasted.
This is such as shame isn’t it? Waste of money is bad enough but even more serious is the waste of human energy and enthusiasm. I’ve witnessed organisations and their people suffer for weeks and months under the latest management fad only to find they’re no further forward ? or worse off.
Here are nine vital lessons from hard experience that will help senior managers plan and buy better training interventions.
1. Start at the "coal-face".
Ask people in specific departments, projects and teams what they need to help them do even better. This "bottom-up" approach encourages people to offer their own suggestions for better training, better systems and better communication. Allowing people to express what they see as the solution is motivating because it is "not management dictating" and because they see a chance of some action! This bottom-up approach often reveals problems and bottlenecks that have been around a long time ? hindrances people have got used to. Remember, most organisations don’t have a mechanism for everyday problems to filter up to top management.
Avoid Outsourcing Pitfalls in the Injection Molds and Stamping Dies Markets
February 4, 2010
When looking to outsource overseas for Plastic Injection Molds or Stamping Dies there are many things to consider. Usually price is the first thing to be looked at, that’s probably why you’re looking overseas for a new mold or die source-to save money. One of the first places to come to mind is Asia. Large labour forces and low wages can get your job done quickly and cheaply. Or so you think.
When doing business in Asia you may encounter several common problems:
*communication problems: language barriers, different terminologies, engineers with little or poor English skills
*cultural differences: East and West business practices can be very different which often leads to misunderstandings, mistakes, poor quality, and delays.
*empty promises: sometimes the shops you will find can’t deliver what you need when you need it, they just don’t have the technology or resources to provide you with the quality you are looking for, many countries have poor infrastructure with communication failures and can’t make the delivery as promised.
*most shops in Asia are small and cannot do a wide variety of jobs, they may not be able to do everything you need for all your projects, you’ll end up looking for other shops for each different project. They may not be able to provide you with after sales maintenance and services.
People Literacy
January 27, 2010
Every Manager has experienced the frustration of not understanding why one management approach that works beautifully with one employee is ineffective with another. That’s because what we think would be motivating isn’t always motivating to someone else.
The same principle applies to client and co-worker relationships. We "click" or connect with some individuals and understand each other. But we also work with individuals who approach things differently. Research shows there are four different behavioral style dimensions. Understanding their characteristics can help us become more effective in our interactions with each other.
Four Dimensions
The Personal Profile SystemÒ is an instrument that helps identify how we tend to behave. It identifies four different behavioral dimensions: dominance, influence, steadiness, and conscientiousness. Although we behave with all four dimensions, we tend to use one or two most often.
Dominance. People who demonstrate the Dominant ("D") behavioral style are usually fast-paced and task-oriented people. They thrive on the challenge of solving problems. Those with the "D" behavioral tendencies are quick decision makers. They don’t wait to be given authority; they take it. Don’t bog these people down with fluff or details-only results interest them. "Ds" are most comfortable when they can control their environment. They work best when they are free from controls and supervision. They overcome opposition to get the job done.
Hiring Productive Employees: A Checklist for Assessing Their Appeal
January 21, 2010
The characteristics of job applicants have a strong influence on whether or not they get hired. Their characteristics also indicate the level of their productivity. If you are about to hire employees, consider the characteristics listed below in checklist form. The candidates who possess them are probably the ones who will be readily accepted by your staff. This acceptance plays an important role in the team-building process and the productivity of the staff.
( ) Appearance: An applicant whose physical characteristics, dress, and presence are pleasant, neat, and attractive sets a positive influence. Caution: Overemphasis on his or her appearance may be a cover-up of some vital shortcomings. Avoid being sidetracked and distorting the evaluation process.
( ) Self-confidence: An applicant who demonstrates self-confidence, who appears sure of himself (or herself), who professes a full competence about the job, or who projects his assurance to others, will probably impress the interviewer and is likely to be secure in his feelings about himself and his ability to do his job. Caution: This display is just an indicator; the true test comes during the probationary period.
Setting a Pitiful Example: Twenty-six Warnings to Heed *
January 17, 2010
TO: All Parents [and Employers and Managers]
From: Your Child and/or Employee
Date: The present time
Re: Don’t Spoil me; Teach Me
1. Don’t spoil me. I know quite well that I ought not to have all I ask for. I’m only testing you.
2. Don’t be afraid to be firm with me. I prefer it; it lets me know where I stand.
3. Don’t use force with me. It teaches me that power is all that counts; I will respond more readily to being led.
4. Don’t be inconsistent. It confuses me and makes me try harder to get away with everything that I can.
5. Don’t make promises you cannot keep them. It will discourage my trust in you.
6. Don’t fall for my provocations when I say and do things just to upset you. Then I will try for more such “victories”.
7. Don’t be too upset when I say, “I hate you”. I don’t mean it, but I want you to feel sorry for what you have done to me.
8. Don’t make me feel smaller than I am. I will make up for it by behaving like a “big shot”.
Take Your Firm to the Next Level
January 9, 2010
So you did such a good job in 2003 at bringing in new clients to your firm that you’re swamped with business, your firm is large and growing, and all parts of your marketing system are in place and running smoothly? Congratulations - you’re off to a great start for 2004!
If you can confidently answer “yes!” to the following metrics, then you’re ready to take your practice to the next level (and if your answer is “no,” get back to basics at http://www.turningpointemarketing.com)
* Is your firm’s mission perfectly aligned with your market?
* Do your marketing efforts create exactly the relationship your customers most want and need?
* Are your services well packaged, presented with a What’s In It For Me? punch, and priced at various levels?
* Do you know exactly where and how to promote your firm’s services?
* Does your marketing system routinely and predictably create the kinds of new customers your business requires?
