 |
Archive for the ‘performance’ Category
Monday, August 23rd, 2010
The game of golf continues to grow in popularity. I personally enjoy the game and try to play often. I love competing against myself and the game makes me be better both physically and mentally. Whether I play it on my own or with someone else, I always find a motivator to make me want to do my best. I track my effectiveness on a scorecard provided by the clubhouse. It lets me know how well I’m doing.
Some scorecards are very detailed and can inform you about the unique design of the course and about each hole so that each golfer can play to their own abilities. Scorecards in golf provide a lot of beneficial information. The score is the ultimate measurement of your ability as a golfer, but that is just the beginning. I have also seen golfers use score keeping to track not only their score, but track every single stroke they make. The serious golfers track the tee-shots ended in the fairway, how often they reach the green in regulation, how close to the hole their “approach shot” lands, and how many putt’s they make on each hole. There is plenty more, but the purpose is to evaluate and improve their game.
In the exact same way that scorecards are used in golf, they can be used in business – to improve your game! A personal score card in business is the perfect way to track an individual’s performance and contribution to the organization. Let’s draw some lines between the two.
Golf:
At the end of a golf round, I know if I am shooting above par, at par, or if I played really well, then I’m hopefully under par. If I’m under par, I’m winning.
Business:
Much like golf, at the end of the day in business a personal scorecard tells me if I’m winning and how I have contributed to the bottom line. It will tell if I’m making money for the business or if I am spending it.
Golf:
When I track all of my strokes in a golf round on my score card, I know where to focus my attention the next time I go practice at the range.
Business:
When I track my individual performance at work, I can see where I need to focus my attention the next day, week, or month in order to be more successful. If you are not tracking strokes at work, how can you improve your long or short game? You must have a personal score card that speaks to you. You need to know how many strokes you are taking to get your work done. Just as you need to know if your tee-shots are hitting the fairway. You need to know if you are hitting your goals or not. Remember, the least amount of strokes in golf means you are getting the most out of each stroke. There is the same focus in business….do more with less!
Golf:
A common phrase in golf is you “drive for show and putt for dough.” (Dough is referring to money or cash). This means the winners don’t just hit the ball far, but they also have a refined skill to make the precision shots that are so important to their game.
Business:
In business, you have to know if you are “putting for dough.” You need to know what it is that you do that creates profit for your business. Developing your business acumen and using a scorecard is critical to individuals and organizations that are looking to up their game.
Tags: balance scorecard, balanced scorecard concept, scorecards, scorekeeping in business
Posted in bottom line results, performance, scorecard, scorekeeping | No Comments »
Friday, June 25th, 2010
Every one of us likes to see results; whether it’s in the work we do, our investment portfolio, or other activities, good results make us want to celebrate success. Bill Gates has been consistently ranked as one of the world’s wealthiest men. It’s hard to argue with his track record in business or philanthropy. Regardless of his approach, philosophy, or business style you can’t argue with the effectiveness and success he and his organizations have had.
At a recent Town Hall forum for MBA program students at Columbia University, a Masters student asked Bill Gates the following question:
Student Question: My name is Erica and I am a second-year student. My question is for Mr. Gates. What is the most important thing you do every day?
Bill Gates Answer: Well, I do a lot of variety. I think reading a lot, you know, and continuing to learn. I’m in a lot of new areas in the Foundation, education, health. And I love reading a lot. So I think, you know, arming myself with that knowledge and sitting down with people who live the topic and brainstorming with them, that’s what helps me back the right people and make sure I know what’s going on. So I guess I’d say learning is what is the key thing.
 “Arming” yourself and your employees with knowledge is so important. What would organizations look like if we “armed” people to be results based leaders who understand how to increase profit and drive bottom line results? This can be done, by exploring and discovering what really matters and how to properly measure results. I’m not talking about more reports, more charts, more graphs, to bore people with. I’m talking about engaging individuals to measure and do it in a way that speaks to them as individuals. It is about how I fit and why I matter.
Whether you’re looking to drive key results of your business or looking to simply educate employees on finance for non financial managers, arming your people with knowledge to be prepared for battle will ensure more focus around winning as an organization. It’s hard to argue with results.
Posted in Mini-MBA, bottom line leadership, bottom line performance, bottom line results, business acumen, performance | 1 Comment »
Wednesday, July 22nd, 2009
 The Decorator Crab is found in various parts of the ocean, and has a lot to teach us about the way the workplace can affect performance. As all living things have predators of sorts, the Decorator Crab survives and avoids its predators by camouflaging or blending into its environment. This crab will collect items found in its habitat, such as corals, anemones, sponges, and various algae, and attach them to their shell using a hook appendage. Their collection will eventually grow attached and permanently change the look of the crab. When I began thinking about how this species relates to the workplace, I had two totally separate insights that I think are valuable lessons. As such, this blog will be presented in Part One: Finding a Positive Work Environment, and Part Two: Standing Out at Work.
Part Two: Standing Out at Work
There are employees in the work environment who, like this crab, act in a survival mode. They are worried about being laid-off or given extra assignments and responsibilities, and don’t want to challenge the status quo. They too, try to blend in and act in fear of change or challenge. I’m sure you can think of someone just like this right now! The downside of this scenario is they are quickly passed up when opportunities arise. Literally, the chances float right by! What every work environment, and organization for that matter, needs is people who are willing to stick it out through hard times, get noticed, and take risks. While the Decorator Crab can only win from blending in, we can only lose.
Tags: being the best, how to keep my job, positive employee qualities, standing out at work
Posted in accountability, character, continuous improvement, individual strategy, performance | No Comments »
Wednesday, July 15th, 2009
Impressions of The 4-Hour Workweek by Timothy Ferriss.
While the title of this book intrigued me (only four hours of work a week), I just didn’t get around to reading the best seller until a couple of weeks ago. It’s a fast read and well articulated. I really liked Mr. Ferriss’ first concept that “Time is Money.” For me this view is right on. Too often, we are so busy trying to make a better income, we forget just how much it really costs us. Three main elements in the book caught my attention. I feel they are well worth considering if not incorporating into your life: Elimination, Selective Ignorance, and Outsourcing.
Elimination
As we age, we naturally reach a point where we begin an elimination process in our lives. We not only cut back on material possessions, we also begin to eliminate unfulfilling activities. Mr. Ferris is simply moving this process from the autumn years to the spring years of life.
Selective Ignorance
 One person cannot know everything about everything, and yet we all know people who will not, maybe cannot, say, “I don’t know.” Selective Ignorance, according to Ferriss, is the process of deliberately ignoring topics that may not be relevant or will take too much time to explore. I agree that it is important to limit our focus to what we can handle realistically, but it may not always be to our best interest in doing only those things we enjoy. Think about the first time you were on a bicycle; can you honestly say you enjoyed falling off that two wheeled contraption? Yet, today you may be an avid bicyclist.
Outsourcing
Asking others to do jobs that are outside our expertise is a no-brainer. However, I have two main concerns about giving our tasks we consider time wasters, to others. First, outsourcing will not guarantee that what you get will be what you wanted or needed. Simply put, no one sees the world like you do. Second, by giving your time wasters to someone else, are you adding more hours to their work week. You must ask yourself, “What’s the cost? Is your time more valuable than theirs?” Rather than outsourcing time wasters, let’s go back to the concept of Elimination. Get rid of them and make everyone more efficient.
Summary
What concerns me most about Mr. Ferriss’ book is the impression he gives that you should simply stretch the rules of the game to fit your needs so that you can win the prize. Example, early in the book he talks about using loop holes in rules to win an international sports competition. He drastically reduced his water weight to weigh in at a lower weight so later he would outweigh his opponent. And because he didn’t have the skills, he used another loop hole in the rules to win by pushing his opponents off the mat. So, okay, he won the prize. Strategy and tactics aside, what about ethics! What about to the personal satisfaction in acquiring the skill to compete? While winning is important, the pride in developing the skill is often more satisfying.
Tags: 4 Hour Workweek, efficiency strategies, leadership skills, saving time at work, Strategic Thinking, time is money, Timothy Ferriss
Posted in achievement, continuous improvement, performance, planning, strategy, time management | 1 Comment »
Monday, May 4th, 2009
Hard to believe we are so far in the year already. Looking back, when was the last time you actually looked at or considered this years goals, objectives, and priorities? Is your business plan on track? Are you achieving the results you expected for this year? How are you doing with the S.M.A.R.T. (Specific, Measurable, Aligned, Realistic, Time-bound) goals you set?
Today we live in an era when managers and employees want to exercise more accountability. With accountability comes increased responsibility and a duty to self-evaluate and measure one’s progress. Having worked with over 1,000 sales representatives and managers, setting SMART goals was a key part of the annual planning process.
Even with the planning and the desire to be more accountable, only the TOP performers (top 20%) routinely review their annual goals, making sure they are on target with these goals, and making necessary revisions in order to meet their goals. Too many wait until an annual or a semi-annual performance review to evaluate their goals.
As you take time to review your S.M.A.R.T. goals, the following questions may help you improve your overall performance. Spend a minute or two to really think about:
- Are you demonstrating a sense of urgency, focus, and priority in achieving your goals?
- Are you holding yourself accountable? If you are a leader, are you holding others accountable?
- Have you evaluated and selected effective strategies that will help you achieve your objectives, goals and priorities?
- Are you reviewing the environment and adapting your strategies to maximize opportunities and reduce challenges?
- With your customers – internal and external – are you part of the solution, not part of the problem?
- Are you developing effective business strategies based on the changing market environment and customer’s needs?
- Are you learning and implementing better and more effective ways to serve, impact, and empower customers?
By routinely reviewing your S.M.A.R.T. goals, you will ensure your strategies and tactics are helping you achieve the results that will put you on top in 2009.
Tags: goals, setting goals, SMART Goals, strategies
Posted in goals & goal setting, performance | No Comments »
Wednesday, April 29th, 2009
When we hear the words, Customer Service – it can either put a smile or scowl on most people’s faces when recalling their latest experience. We expect the saying, “The Customer is always right” to be fulfilled and when things go wrong, we seem to look for someone to blame and usually unload a multiplicity of emotions on the first person we talk to. Books are written each day with ways to encourage and provide a “fix-all” when it comes to Customer Service issues. The current trend may say that all it takes is a nice sounding voice on the other end. Sometimes, it takes just a little bit more…
 syndrome made it his own personal mission to fulfill that goal. Each night he would find a thought of the day, make copies and sign his name on the back of the card. The following day, he would put his “thought of the day” into each bag of groceries and thanked the customer for shopping. A month later the Grocery Store Manager found Johnny’s line was three times longer than everyone else’s. It was not that the store was lacking in people to bag groceries; everyone just wanted to be a part of Johnny’s line. Many customers disclosed they were coming into the store multiple times a week, for miscellaneous items, just to get Johnny’s thought of the day.
The end result was amazing and the effect was contagious as departments in the store found their own personal way of providing Customer Service. Each way as unique as the individual and all were contributing to the bottom line. By treating the customer like a guest, how they wanted to be treated, extraordinary Customer Service was exhibited.
Consider the following tips I took away as I read the story of Johnny and the change he made in the lives of others through his personal customer service:
- The most important component for providing outstanding customer service is the attitude of the customer service provider. Unfortunately, you cannot teach a person how to be nice, but you can have competencies that you would like your employees to possess. Hire the right people for the job. Treat employees appropriately, lead by example and the goal of customer service will be realized by the entire team.
- Align your employees with your organizational goals. A colleague of mine often says that every organization is perfectly aligned for the results it gets. Empower your employees to think outside the box to create calculated decisions and then as management support those decisions.
- Embrace and follow a new adage, “Do as I say AND as I do”.
As you implement this criterion for better Customer Service, you will be able to solve problems without an escalation. Your team will contribute to the bottom line in a big way. Sometimes we need to take a minute and remember the “Johnnys” of the world, be a bit more teachable and remember we can all make a difference.
Tags: customers, custormer services
Posted in customer service, performance | No Comments »
Monday, April 6th, 2009
In today’s world of instant communications and lightning speed decision-making, establishing one’s credibility is becoming more challenging. However, establishing your credibility quickly and effectively will make a big difference to your success. Keep in mind that your credibility is based on how you are perceived. Perceptions are “what people see and think”. They drive people’s attitude and ultimately what they believe and feel about you. So what can you do about your credibility? Remember, every personal and business interaction is an opportunity to establish and build on your credibility. Take advantage of every one of them by preparing ahead of time. Think through and plan for interactions with the people you want to influence.
Here are six simple steps you can take:
- Learn something about the people you are trying to establish credibility with. What are their goals, challenges, and needs?
- Constantly seek to understand the people you interact with, ask good questions, get to know as much about them as possible. It will come in handy for steps 3-5.
- Leverage your understanding by sharing a “theme” early in an interaction that indicates you’ve “done your homework” before meeting with them. (e.g. “I read”, I noticed”, or ” I, like you, believe in…”)
- Communicate the “potential value” you offer this person in a simple, concise way. (Think of it like an “elevator speech” something you can give in 1 minute or less)
- Your message should answer 3 questions at the same time (what you do, how you do it, and what value is potentially in it for the other person)
- Be prepared with examples to support your message and position your experience and expertise.
Credibility has a very short life span. It needs to be nurtured and refreshed constantly. The steps above should be used over and over again with practice and perseverance.
Tags: business credibility, corporate credibility, establish your credibility, initial credibility, leadership credibility, personal credibility, professional credibility
Posted in bottom line performance, character, credibility, performance | No Comments »
Monday, March 30th, 2009
The English poet Shakespeare once said, “To be, or not to be — that is the question.” Given our current state of the economy there are many companies who are now asking themselves a similar question, “To train, or not to train? While organizations consider this question, I think it is important to keep the big picture in mind. What do I mean? Well, let me explain.
 While times are tough and budgets are under the microscope, it would be wise for organizations to take a strategic and thoughtful approach vs. a reactive one. Determine what the most valuable assets are that will keep the business going long term. Arguments can be made for technology, more infrastructure, more resources and equipment, or more systems and processes. Of course, all of these things are important; however none of them will perform well without people to put them into action. People still remain and will always remain to be an organization’s most important resource. When the chips are down and dramatic changes are needed, it won’t be your computer to get it started, especially when it is the culture and environment that might need the most attention. There isn’t a technology available that can openly capture the level of motivation or disappointment that is going on within an employee’s psyche. So, how can an organization get through it all?
Let’s use the analogy of the stock market to help us consider a potential solution. While many people watch their 401K or other investments dollars declining, their gut reaction is to “stop the bleeding” and sell. However, an important formula called Dollar Cost Averaging exists that an investor needs to consider. While the share price may be getting slimmer and therefore account value is dipping, a key component is that you are buying more for your current dollar. It’s like a sale at the clothing store buy one (i.e. $50) and get the other half off ($25). Who doesn’t like to see 50% off the MSRP. The Dollar Cost average would be $37.50 each. We all like this. So many say, just keep steady and keep on investing, eventually the share price will rise, and as you have more shares, your total investment will increase. So is the same with training, but let’s not call it training, because it is actually development. If you want to see your business grow, keep investing in the development of your people especially when they may be looking for that reassurance from the company. The more you put into them, the more they will be put back into your organization. Call it a “stimulus package” that will spark renewal, commitment, and creative effort by your people to do more for the benefit of their team and the organization. Everybody wants some job security right now. Those organizations, that are willing to provide some investment, will retain their people and, in addition, drive a deeper level of partnership and collaboration from their employees.
We often hear that it’s hard for organizations to take time away from work to “train” their people. Well, here’s some everyday strategic thinking. If business is slower, there are less projects happening, so your people probably have more downtime and are therefore able to break away from work and go be “trained.” So, isn’t this one of the better times to get your staff ready? How is that for breaking the paradigm of it’s too time consuming to develop our people!
Another argument might be that training is too expensive. Yes . . . everything has a cost, some are obvious, and some are hidden. But you will run a bigger risk in not developing your people – which has all sorts of hidden costs that ultimately impact the organization’s profitability and success – vs. not spending money for people development and losing valuable experience. Keep in mind the stock market analogy….it’s easy not to spend money and think we’re doing a good thing but is this a good thing? If you stop investing in your people, won’t they provide you a much lower ROI in the long run? The strategic thinker will invest for the future.
This reminds me of one of the principles taught in university marketing classes. The best time to market is in a slow economy so people see your name; they build brand awareness and brand loyalty and confidence. These same results apply to people development. Put your budgets to work and sharpen the skills of your employees. Make them better tools of the trade to not only get you better results now but in the future. So, if you are asking yourself this question, “To develop people or not to develop people?” The answer is 100% yes, and invest more now and get more “shares” for better ldeveong-term results.
Tags: developing employees, employee development plan, employee training and development, employee training plan, employee training programs, training employees
Posted in management, mentoring, performance, train the trainer, training others | No Comments »
Monday, March 23rd, 2009
 It has been interesting, if not disheartening, to watch businesses close, thousands of people losing jobs, and bailouts to keep some companies upright. As a survivor of one such company, I can relate to the frustration, fear, and fury many of these people are feeling. At the time I experienced this, I was with a company that had been in business for over 80 years. I really thought that if I did my job well, my position was secure. Nevertheless, the company went through some tough times and finally was forced to file bankruptcy. It was devastating to the 30,000 employees nationwide who were terminated and worst yet those who put all of their 401k monies into the stock of that company.
Reminiscing, I can think of five areas, other than financial ethical practices, I feel had a major effect on this company’s failure. Consider these points, as they might help salvage your department, team, or organization.
1. View all employees as having a stake in the future of the company. This seems elementary, but you would be surprised at how many managers look at their people as simply a resource, commodity if you will. However, a successful leader knows that each team member can contribute greatly to the success of the team. When a team is working at 100%, processes are streamlined, costs are reduced, and creative solutions are the norm.
2. Keep the communication lines open. I don’t know how many times a boss has told me, “I have an open door policy” and then been surprised later by something that affects my tasks or position. People will be more receptive to change and will respond more positively if they know of an impending opportunity or crises. Realize that most people already have an acute sense of the organization climate and will know when you are keeping things from them. This creates fear.
3. Hold yourself and others on your team accountable for their commitments. You will accomplish two things by sticking to this concept. First by being an example, your team will know they can count on you and in return you will be able to count on them to be committed to the task or goal. Second, it sets the parameters for excellence. The title of the book by Dr. Steven Stowell and Stephanie Mead says it all, With Teamwork Anything is Possible.
4. Set policies that everyone adheres to – not just certain groups. For example, if a policy is that no one accepts gifts from vendors, the President or Chief Financial Officer should also adhere to that rule. Simply put, leadership should walk the talk.
5. Finally, be open to the other people’s opinions and accept that they may not carry-out the task the way you would do it. If you do allow others to take the ball, don’t undermine their efforts. Give them room to excel. People are going to make mistakes, but don’t bully them or attack their character. Coach, rather than chastise. People become defensive when they feel attacked, creating resentment and lower performance. Coaching more often creates a willingness to change for the betterment of the group. General George Patton was correct when he said, “Never tell people how to do things. Tell them what to do and they will surprise you with their ingenuity.”
These may seem basic and you may be committed to practicing these already. Just remember, under the increasing pressures of daily tasks, and especially in a crisis, it is very easy to forget these areas. Unfortunately your employees won’t and some may become hurt or even angry. Either way, productivity will go down.
Luckily, I have discovered that when these points are followed, people will support you and your organization in ways you would never imagine.
Posted in bottom line performance, bottom line results, organizational change, performance, profitability | 1 Comment »
Tuesday, January 20th, 2009
A week ago, the Los Angeles Times printed an article about Barack Obama’s desire to postpone the United States federally mandated switch to digital broadcast television.
When I read the first few lines, I thought “Why postpone? Haven’t we been aware of the switch for years?” Haven’t we been bombarded by media making us aware of this transition, the approaching deadline, and what we need to do? This makes me think of holding people accountable.
 The Government created a program where individuals could request a coupon that would allow them to purchase a new digital antenna box for their T.V.’s at a low cost. According to this article, there are 1.1 million coupon requests that cannot be filled due to a lack of funding. Furthermore, as the article stated, 8 million households rely on antennas and are unprepared for the switch.
When I read this, my thought went back to the concept ACCOUNTABILITY. These 1.1 million people obviously waited until just a few months before the antenna box was required, rather than being proactive. They knew of the transition, they knew what was required of them, and they knew the deadline was February 2009.
From my perspective, these 8 million people need a little tough love and a lesson on accountability. The government shouldn’t be required to take care of every need or every issue facing society. Especially when it comes to funding the availability to sit in front of a television set. Shouldn’t these people either make do, or do without? What about your organization. Have you developed processes to have them put off or ignored?
Here are a few thoughts on accountability:
- Unaccountable behavior is costly for your organization. How much is it costing you?
- As a leader, you have a greater challenge when it comes to accountability. Not only do you need to model the behavior yourself, but you need to instill it in those you manage.
- People with integrity and accountability do make a difference in the organization’s performance which will translate to bottom line results.
- A culture of accountability will shift people from being reactive to more proactive.
- Accountability can be summed up as acting in a responsible way and following through on your commitments.
This article in the Los Angeles times is a great example of a lack of accountability. It reminds me of the woman who spilled coffee on herself while at a major fast food chain. She sued the organization for a few million dollars because she didn’t want to be accountable for her own foolish actions. What’s next? A 50 billion dollar Ponzi investment scheme? Let’s start holding people accountable for their own actions. If you have a good example of accountability or lack-of, post it into our comments section below.
Tags: accountability, management
Posted in accountability, management, performance, trust | 1 Comment »
|
 |
