Month: October 2013

Charisma or Character…How To Tell The Difference

On By Joe DeRosaIn LeadershipLeave a comment

wolf

In life we encounter many different types of people.  Introverts, extroverts, funny, serious, loud, quiet, shy, and jocular.  These are all personality traits or characteristics of an individual.  They do not define or identify their character.  Many times we try to “read people” to determine if they have good intentions or selfish desires.  Confusing character with charisma is an area where most people struggle.  It also poses potential danger if misread.  So what’s the difference between character and charisma and how do you determine if the person you’re interacting with has great character or is simply charismatic?

Before you can determine character from charisma let us first establish a working definition for both.  Character is the way someone thinks, feels, and ultimately behaves.  Think of character as an individuals guiding light, or true north.  People of great character operate with authenticity.  They have strong self-awareness, and the likelihood of them doing the right thing under the most difficult of circumstances, is incredibly high…almost unquestioned.   Character boils down to doing the right thing when no one else is looking.  Character is hard-wired.  You can teach right from wrong, but you can’t teach character.

Charisma on the other hand is an appeal that attracts others to an individual.  It could be a specific talent or attribute.  Charisma, or charm, are qualities that are also hard-wired into a personality.  Many celebrities, politicians, and public figures have great charisma.  It’s a quality that has been developed over time and used to rally support behind a persons specific efforts.  In the movies, as in life, there are people who have enough charisma to make obnoxious characters likable.  Perhaps this is where the saying “wolf in sheep’s clothing” came into existence.  We are often times fooled in life by people who are very charismatic rather than supporting the individual with strong character.  People with charisma seem to have it all and it’s exciting to be around them.  But charisma is no substitute for character.

So how can you tell the difference?

  1. When talking with someone do they open up or keep things shallow or superficial?
  2. How willing is the person to roll up their sleeves and “do”, versus simply talking about “doing”?
  3. When interacting with others does the person focus on the material things or do they make human connections?
  4. What examples can be found where this person did something good for someone, or some company, for which they received nothing in return?
  5. How do they treat and interact with their family and friends?
  6. Do they keep their word even if doing so results in a loss?  Or are they quick to abandon their commitments and justify doing so with one reason or another?

Learning how to deal effectively with people throughout life will determine your success and happiness.  Being proficient in identifying people with character versus charisma will give you greater opportunities to align yourself with those who will truly add value to your life thereby create lasting relationships.  Focus on establishing relationships with people rich in character rather than charisma.  Remember, charisma is an outward sign whereas character comes from within.  Surrounding yourself with people high in character will bring you a lifetime of self-fulfillment and happiness.

The Human Equation – Building Relationships That Last

On By Joe DeRosaIn LeadershipLeave a comment

relationships

Human beings are emotional creatures. We long to connect, to be seen, heard, felt, and understood. We strive to make good first impressions because we know what’s at risk if a first meeting goes wrong. Acceptance and recognition are perhaps cornerstones of what makes us human. We want to be part of the pack, to run with the herd. We crave recognition for what we contribute, and how we perform. Every race, every culture, every civilization yearns to feel united.

In business or in our personal lives the relationships we establish and maintain will ultimately determine our level of success, happiness and fulfillment. Building relationships is hard work. Don’t let anyone tell you different. Know this…the best things in life take time and a lot of hard work. Healthy, productive, and positive relationships are no different. And also know it’s a two-way street. The best relationships are not just about you, they are about the greatness that is produced as an output of two people, parties, partners, etc, coming together. With all great relationships the sum of the whole is much stronger than the sum of the parts.

Two specific elements are necessary for all great relationship to take seed: trust and authenticity. Both are difficult to establish but for different reasons. Trust requires risk and is a gift given to others. Authenticity requires truth and is a gift given to yourself.

Lasting relationships are built upon trust. Both parties must trust that the other has their best intentions in mind and in heart. If there is doubt in either, then trust does not exist. If breached, trust is very difficult to re-establish…perhaps impossible. Taking advantage of someone is the surest path toward damaging trust. In the business world this might look like playing hardball with pricing, financial compensation, terms and conditions, or a legal but perhaps unethical use of leverage. Doing what’s right is not the same as doing what is legal. My first boss taught me an important lesson….”if it’s right for the customer, and right for the business, and assuming it’s legal, then do it.” Notice the legal aspect is a given. It’s like integrity…it’s a must…it has to be there. Assuming it is, then focus on doing the right thing for the customer, friend, spouse, partner, etc., first…everything else follows.

Trust also is a reflection of character – acting authentically. Doing what’s right when no one else is looking. In the business world it is often easy to confuse charisma with character. I’ll write more on this subject in a future blog.

Authenticity requires self-awareness. You may be thinking that you’re already self-aware and if you are that’s awesome. But for most people the exercise of becoming self-aware is ongoing. It’s not a one and done. It’s a continuous assessment of yourself, your goals, your ideals, your philosophies, and your priorities. As circumstances change you need to reassess yourself. This is how many people get lost in their circumstance as opposed to remaining true to themselves…being authentic. No place is this more visible than in business or in the world of celebrity. As people acquire more power, money, and material things, they risk becoming out of balance between their circumstance and their “self”. To remain in check ask these two questions periodically: what is the most important thing in my life, and are the things I am doing aligned with what I’m saying is the most important thing?

By operating from a truly authentic place, you will be able to develop long-lasting relationships. You will develop a reputation as being someone who is trustworthy, loyal, and committed to doing the right thing. Before long you will sought after for your insights, ideas, and relationships.

How To Improve Boardroom Decisions

On By Joe DeRosaIn Business, Leadership, MarketingLeave a comment

Council

Daylong meetings starting at 7:30 am behind closed doors. Continental breakfast with all the coffee you can drink. Lunch around noon…sandwiches or pizza…followed by early afternoon cookies, more coffee, and an occasional bottle of water. The day ends around 5:30 pm with a 30 minute break to “freshen up” before going out for a team dinner. Sound familiar? It does if you’ve ever experienced an executive, or Board-level meeting.

Many companies are currently knee-deep in 2014 planning sessions. Meetings like the one I’ve described above are taking place in different cities across the country…and the world. Lots of PowerPoint presentations, opinions, predictions, explanations, what-ifs, if-nots, and I-needs, fill hours upon hours of meetings. Interestingly enough one of the most important ingredients to building a successful strategy is missing from many of these discussions…the customer.

A fair number of companies execute their planning season with an inside-out view. They go into these sessions with closed minds, hindered by their narrow focus of what is, rather than what could be. This is not necessarily a purposeful or conscious approach, but it just seems to happen that way. We look at last year’s results, add 10% or whatever number we “think” sounds reasonable and build a plan around it. Again, sound familiar?

But companies that drive significant growth through innovation do it differently…they involve the customer.  Here’s some proof.

One of the best shows on television today is The C-Suite.  The show, and its host Jeffrey Hayzlett, focuses on getting behind the typically-closed-doors of some of the country’s biggest brands.  They dig around the executives thinking, ideas, philosophies and plans.  Hayzlett asks tough questions, the questions viewers would love to ask if they could – and he gets answers.

In a recent episode of The C-Suite on BloombergTV, host Jeffrey Hayzlett profiled the Seattle Sounders professional soccer team. He met with the owner and the executive leadership to understand how the Sounders have accomplished sell-outs (60,000+ seats) at every home game. In a previous episode he met with the executive team of Dunkin Donuts to have a similar conversation about what’s driving their growth. What was quite surprising and impressive is that while both these companies are in completely different industries their response was nearly identical…they both involve the customer.

Joe Roth, the majority owner of the Sounders, and Nigel Travis the CEO of Dunkin Brands, have both established customer advisory councils. The Sounders’ council consists of season ticket holders and Dunkin’s is made up of a group of their franchisees. Both councils provide ideas, thoughts, and reactions to their respective company’s strategy and plans. The Sounders go as far as involving their council members in discussions from ticket prices to player selection. They have given the brand to their customers and are reaping the benefits in a big way.  In fact their leap of faith has paid of five-fold.

It takes guts to listen to your customers.  Executive teams must also have the courage to act on what their customers tell them. Oddly enough the companies that have allowed their customers to “hijack” their brand have been extremely successful as profiled in the book Brand Hijack. Given their success it’s interesting to me that more companies don’t follow this approach. At the same time I find it unbelievable that many companies still don’t listen to their customers yet expect, or hope they continue to spend their money on their brands.

It’s great to see some companies really nailing the customer experience.  Asking, engaging, listening and acting upon what the customer says is so powerful.  Providing a forum for that exchange to take place is a best practice all companies should follow.  For many things in life there is no silver bullet.  But in business, knowing your customer is the best silver bullet you’ve got.  You simply need to do three things:  Ask, listen, and act.

Does your company do this?

Technology. A Blessing or Curse?

On By Joe DeRosaIn UncategorizedLeave a comment

phone

One of America’s most quoted writers of the 19th century, William Arthur Ward said, “if you can imagine it, you can achieve it; if you can dream it, you can become it.”  The truth in that statement is evident throughout the history of the world.  The capacity and capabilities of the human mind are impressive, and sometimes unbelievable.  Imagination creates ideas, which in turn drive inventions that lead to further innovations, and ultimately affect the evolution of our civilization.  Going back in time there are countless examples of how imagination led to major improvements in the quality of life for that generation and beyond.

Inventions like fire and the wheel, to penicillin and electricity, and more recently to the combustion engine and computer, the human race has traveled far since we first stepped foot on this planet 200,000 years ago.  We have dreamed big and accomplished much.  We have brought the world closer together with communication devices beginning with the telephone and television to cell phones and Skype, and now we’re about to see a new device that will combine all our communication and media needs into a watch! Finally, all those nifty gadgets that have only been available to James Bond will now be within reach.

But as we travel the technology highway leveraging new software, hardware, middleware and any other kinds of “wares” are we really evolving or are we digressing as a civilization? Not long ago we took pride in our ability to meet people and interact with them in the most human of ways…through speech. Even before the most popular languages of the world became official, humans communicated with sounds, noises, pictures, and touch. Leaders were identified by their ability to communicate and influence. These skills were learned and perfected over years of varying experiences. And one of the most powerful experiences that develop human beings is our ability to navigate successfully through conflict.

As I look at our children’s generation I wonder how effective they will be able to manage conflict in the future. Personal and professional conflict are challenging enough but world conflict is what I find more troubling. It’s unbelievable to me that as we near the end of 2013, email has become a bit passé.  Texting and instant messaging have become the communication tools of choice for the younger generation. Kids no longer sit on the phone for hours with their friends. In fact, if you have kids, when was the last time your home phone rang with one of your child’s friends on the other line? It’s far more likely that instead of talking live they have chosen to text one another.

I’ve watched good news, bad news, funny news, and everything in between be communicated through texting, and it’s left me wondering…

Human beings are emotional creatures if nothing else. How will we evolve in the future if all of the emotional aspects of our lives are synthesized into an electronic communication? Do we risk becoming desensitized? Where will this generation, and the next, find joy? What will cause their pain? As they become accustomed to receiving bad news from a device versus another human won’t they in fact become numb to bad news? How will they develop the coping skills required to grow and develop? Usually those skills come from interacting with other people by making a connection with one of our senses. If you can’t see who you are dealing with, nor can you hear them, or touch them how will those skills be learned. Perhaps they won’t.

Communication devices and tools most certainly serve a purpose. However, I would suggest that for life’s most important events, put the device down and engage the old-fashioned way…with speech, with sight, with human connection. Not only is this way more fulfilling emotionally but it allows our innate skills, our instincts, to flourish and continue to developing.

4 Behaviors That Will Improve Your Performance…Before 6 am

On By Joe DeRosaIn Leadership1 Comment

Sunrise

In studying many of the world’s greatest leaders, I have found a series of 4 common behaviors that drive each of them on a daily basis.  Whether a political leader, business leader, or a leader in the world of celebrity – Hollywood, or sports – great leaders display and demonstrate these behaviors on a consistent basis…daily.  What makes this all the more interesting is that all 4 of these things  take place between 4 – 6 am!  That’s right.  Great leaders are up and engaged well before the sun rises.  So what do all great leaders from Steve Jobs and George W. Bush, to Lou Gerstner and Bill Clinton have in common?  Here they are:

  1. Early risers.  Great leaders start their day early.  Many at 4 am.  They realize that by the time the rest of the world awakens they need to be ready to engage immediately.  Waking up early is the first step in their high-performance process.
  2. Exercise.  Many great leaders start their day by hitting the gym, getting a run in, a SPIN class, or yoga.  They understand that taking care of their bodies allow them to endure the stress and strain of their daily responsibilities.  The beauty of exercise beyond the obvious benefits is the release of endorphins.  This chemical reaction that takes place when exercising is what causes a “runners high” and overall great feeling of accomplishment when you’re done exercising that lasts well into the day.
  3. News.  A quick scan of the news is a common behavior shared by great leaders.  Not to get bogged down in the details but to have a high level understanding of what’s going on around them and how certain news may impact their business, customers, employees, etc.  There are a variety of apps available today that help gather news and put it in a format that allows the reader to view it quickly and efficiently.   Applications like Zite, Flipboard, and Pulse are known as personalized digital newspapers.  You select the general topics you want to be informed about and the application scours the internet for news on those specific topics, gathers it, and puts it into your digital newspaper.
  4.  Self-reflection.  Perhaps one of the most powerful performance enhancing activities is self-reflection.  Start each day with 15 minutes of self-reflection.  A time when you can take an introspective look at yourself, where you are, what you’ve done, what you’re doing, and where you’re headed.  If the activities you are currently doing are not aligned with where you’re heading, through self-reflection you can identify this disconnect quickly and make a course correction.  Self-reflection allows you to keep to your True North.

Try adding these behaviors to your daily routine for 3 weeks and see what differences you notice.  For something to become a habit you must do it 21 times.  One idea is to get a calendar and cross off each day…a countdown of sorts.  It will help you adjust and acclimate to this new performance enhancing ritual.  Let me know what you think.

“A manager is responsible for the application and performance of knowledge.” – Peter Drucker

How Great Is Your Company? Answer These 4 Questions.

On By Joe DeRosaIn BusinessLeave a comment

happyworkGreatness is determined on many levels.  Seldom is it one thing that defines a great company.  This year’s list of 100 Best Companies to Work for include: Google, SAS, CHG Healthcare Services, Boston Consulting Group, and Wegmans Food Markets rounding out the top five.  What makes these select few stand out among the millions of companies doing business every day?  Is it the free lunch that Google offers or the casual dress code at SAS, or the leadership development programs offered at Boston Consulting Group that make the difference?  More than likely it’s those things plus other less tangible things that have elevated these companies to becoming employers many people aspire to work for.  If you’re considering a move, or simply trying to decide if you should stay or go, look at the following 4 areas and answer the questions I’ve posed.  This may provide you with the insight you’re looking for to make your decision.

  1. Employee morale.  Some companies conduct regular surveys of their employees to measure morale and job satisfaction.  Poor morale can lead to many negative side-effects for a company and its employees.  Here are some signs you may have a morale problem:  increase in sick time, customer service levels dropping, longer than scheduled employee breaks, increase in personal phone calls, visible avoidance of senior management.  Typically low employee morale is the result of uncontrolled stress or strain in the workplace.  However, in companies with strong employee morale you see higher engagement, lower usage of sick-time, and perhaps most importantly a culture of innovation that leads to strong customer satisfaction levels.  Engaged employees offer new ideas, suggestions, and solutions for how to improve things across the business.  The key driver to making this happen?…managements ability and desire to listen and act in collaboration with their employees.  How is your company’s morale?
  2.  Creativity.  Positive energy generates positive thoughts.  Positive thoughts produce creative ideas and solutions.  When a company’s culture is negative or numb, it loses its ability to create new ideas, concepts, products, or services.  Creativity is a required ingredient for innovation and invention.  Without it, you will successfully secure your spot in the purgatory of status quo.  Companies that thrive in a highly creative and innovative world have mastered the power of creative thinking.  They have accomplished this by instituting a level of controlled, creative tension.  Management expects employees to generate new ideas and employees expect to be heard.  This dynamic of a two-way-street creates a steady stream of creative traffic that produces ongoing positive results for both the company and its employees.  Is your company a culture of creativity, what example can you give?
  3. Turnover.  Life is all about relationships and the workplace is no different.  According to a recent Dale Carnegie Training study, the #1 reason people leave their job is because “their boss sucks”.  People don’t leave companies…they leave to get away from other people.  Companies with high turnover, which I would define as more than 10% annually should take a deep look into what is driving their turnover.  Often times exit interviews and surveys are the relied upon methods for gathering feedback from a departing employee.  However, these tactics come after the fact…when nothing can be done to salvage a high-value employee who has decided to leave.  High turnover can also suggest a disconnect between the management team, the company vision, and employee goals or quotas.  What’s the turnover rate at your company?
  4. Transparency.  It’s either there or it isn’t.  You know as an employee how your work impacts the top and bottom line…or you don’t.  Management communicates a clear vision that includes the company’s goals, the timeframe for achieving them, and regular updates on the health and progress of the business relative to these goals.  Creating a culture of transparency requires time, commitment and most importantly trust.  Management must trust the employees with information, and employees must trust their management to provide this information with accuracy and honesty and hold it in confidence.  A breakdown on either side of this relationship ultimately leads to the elimination of transparency further leading to many of the above symptoms taking hold:  poor morale, turnover, and lost productivity/creativity.  How much do you know about your company’s goals and objectives?

Leadership lessons from a SPIN class

On By Joe DeRosaIn UncategorizedLeave a comment

spin

Years ago I was invited to join a SPIN class. Spinning isn’t for the faint of heart. It’s a grueling hour+ exercise class that pushes your boundaries…if you let it. Like any other type of exercise, you get what you put in. Sure there are people that go to a class and coast…literally. But then there are those who push their own limits to achieve new mental heights and physical accomplishments.  You test yourself to see what you’re made of, what limits you can blast through.  You learn a lot about yourself and what you’re capable of achieving.

So what does leadership have in common with Spinning? What characteristics can be borrowed and shared between the two? Consider the following:

Leadership, like Spinning, requires a huge amount of energy.  Endurance and stamina are also required, and the more you have of each the better your results.  In addition, great leaders, like great cyclists need rhythm, discipline, focus, desire, and most of all integrity.

  • Rhythm is extremely important to both leadership and Spin. You need to have a regular rhythm to running your business.  A normalcy for when you host meetings, when you communicate to customers and employees, how you recognize top performers.  Spin requires a steady rhythm as well.  Consistent pedal strokes are important to maintaining your energy levels so you can finish the race.
  • Discipline is something all leaders must have. It’s easy to share the good news, but challenging times requires a greater degree of discipline to maintain a steady flow of communication.  Great leaders know that staying disciplined will help them pull through the toughest storms.  Spin too requires discipline.  It’s not easy to get up at 4:30 am to get to a 5 am Spin class.  But with that discipline comes the benefits of better endurance, stamina and energy.
  • Focus is another requirement of great leaders and cyclists.  When leading  an organization an effective leader must have the power of focus.  Jack Canfield’s book The Power of Focus offers great insight into this critical element of success.  One specific chapter, “If You’re Feeling Swamped, Get Help!”  In Spin class when you feel you can’t do more, you’re simply out of gas, you rely on those around you to help you focus and get through it.  The Boardroom is no different.  Great leaders know what NOT to focus on as much as what TO focus on while collaborating with their team to achieve that focus.
  • Desire, or will, is necessary for all great leaders.  It is also required for surviving a SPIN class.  Having a strong will, or constitution as some call it, is essential to being an effective leader.  If no desire or will exists you will struggle with all the other elements required to be successful including the ones already listed above.  A strong will drives you through difficult business circumstances, much like how your will takes over 35 minutes into a SPIN class when you’ve hit a wall and giving up becomes a possible option.  It’s your will, your desire to finish, that drives you forward.
  • Integrity, the final element that shares a connection with leadership and SPIN, is perhaps the most important.  You can do all of the above perfectly but if your intentions lack integrity they simply don’t matter.  Integrity, like character, is defined as what you do when no one else is looking.  It’s making the right decision even when that decision may come at a personal cost to you.  In SPIN class when the instructor says “add a gear”, no one but you knows how much gear you’ve added, if any.  You’re tired, exhausted, breathless…do you add gear or fake it?  Integrity is about turning the dial up when the only person that knows is you.  In business you’re faced with tough decisions, some visible and some not.  Great leaders are consistent when making decisions in public as much as in private.  They do what’s right even when no one is looking.

3 Simple Ideas To Unite The States

On By Joe DeRosaIn UncategorizedLeave a comment

Flag

America’s history is filled with successful compromise.  That’s what makes our country so great.  People of different backgrounds, experiences, ideas, and  opinions coming together to debate and decide on the best path forward.  And while I’m not naive, or remotely suggesting that the big decisions we’ve made in the past have been easy, I am saying that we seem to have been able to place country first.  One of the most memorable quotes of all times that illustrates the importance of country first, came when Herb Brooks, the coach of the 1980 U.S. Men’s Hockey team said to his team, remember, “the name on the front (of the jersey) is a hell of a lot more important than the one on the back.”  If we start with that premise, believe it, and embrace it we can begin to work toward better outcomes.

Here are 3 ideas that could help us focus on getting big things accomplished that will help the United States move forward:

  1. Re-define essential.  A quick trip back to review our Constitution suggests that there are certain things our government must provide.  Use those items as the starting point in defining what must be considered “essential” when negotiating in and with Congress.  The only truly essential guarantee referenced within the Preamble of our Constitution “provides for the common defence.”  Defence is defined as “resistance against danger, attack, or harm.  The other five elements could be viewed as “best intentions” statements.  Words like insure and promote are not guarantees.  Given the brilliance of our Founding Fathers, I believe that if they truly wanted to guarantee Tranquility or domestic welfare they would have used stronger words such as ensure versus insure.
  2. Term limits.  Politics was never meant to be a career.  I’d suggest that prior to Franklin Delano Roosevelt (FDR), most people who entered political life held the view that they would serve for a period of time and move on.  In fact, at our country’s founding, many of our first leaders gave up significant riches to serve in America’s political arena.  Prior to John F. Kennedy’s presidency, U.S. Presidents paid for parties thrown at the White House out of their own pocket.  I’d propose setting an 8 year term limit across the board.  For those in Congress, it would provide 8 years should they have presidential aspirations to accomplish big things…it would create a sense of urgency to really showcase leadership and negotiation skills… required elements of our government leaders.
  3. Adjust corporate tax rates.  The United States has the highest corporate tax rate of any developed nation in the world topping out at 39.1%.  This level of tax rate results in U.S. based companies expanding elsewhere, foreign companies avoiding U.S. shores, and domestic companies parking huge sums of cash offshore.  Just look at Apple’s balance sheet as an example.  Currently Apple parks more than $100 billion dollars in offshore accounts.  To bring these dollars back to the states would result in huge tax assessments to the company that would have a negative effect on all of Apple’s stakeholders from employees, to customers, to stockholders.  This capital is sitting idle when it could be placed to work or deployed in ways that create new jobs, drive new innovations, and grow our economy.

None of these 3 ideas are completely new concepts to consider.  However, I’ve often found that during times of uncertainty when line of sight is obstructed, the simpler the idea is, the quicker the road to improvement.

What’s At Risk When The Government Shuts Down?

On By Joe DeRosaIn BusinessLeave a comment

Caution

Let me first say that growing up I learned an important lesson from my father…“don’t be part of the problem, be part of the solution”.  I’ve carried that philosophy with me throughout life and it has served me well.  That said, my blog today provides context on the problem as I see it with our Country’s current state of affairs.  Later this week I will post a blog that provides a solution, or at least a strong direction, that may be viewed as a starting point to making things better.

The U.S. government has now officially been shut-down for a week.  On Tuesday, October 1, 2013, after being unable to reach any agreement between the President, Republicans, and Democrats, the government was forced to shut down…at least partially.  From services required to fund small business loans, to passport processing services, and the suspension of Amber-Alerts,  many of the “Congress deemed non-essential services” have been stopped.  Unfortunately the one service that should have also been stopped wasn’t…paying Congress!  Instead, it is estimated that nearly 800,000 of the 3.3 million federal employees will be furloughed – the remaining employees being viewed as “essential”.

How did we end up in this situation again?  It seems we have reached this same impasse a handful of times over the past 5 years.  Gridlock and deadlock have plagued this 113th Congress and it shows in their “disapproval” rating which is currently hovering at 80+%.  Think about that…8 in 10 American’s do not approve of how Congress is acting…or not acting depending on your viewpoint.  Relative to the President, his approval rating is just a bit better at 50%…half approving and half disapproving.  No matter how you slice it, or which polling company’s data you prefer, it’s clear we have our work cut out for us as a country.

There are two issues looming on the horizon that will most certainly present additional challenges for the U.S.  The first being our debt ceiling, and the second being the implementation of the Affordable Care Act, more specifically the health exchanges.

Our debt ceiling is set to expire on October 17, 2013.  If no action is taken, what we risk, is the general default by the U.S Government to its bondholders.  And while the U.S. Treasury Department has some wiggle room as to prioritizing what and who to pay first, the reality is that because the numbers are so huge something or someone is likely to come out on the short end of the stick.  If forced to make a trade-off, the Treasury is likely to pay the bondholders before paying Social Security recipients.  Unfortunately there is no easy solution.  Some say just raise the debt ceiling…print more money, while others suggest slashing budgets and eliminating many of the current public or entitlement programs. It’s hard to believe that 536 (535 + 1) people can’t find some common ground that offers up a solution to benefit the country and its citizens.  This current win-lose philosophy if allowed to continue will only hurt us in the short and long-term.

Next up, the exchanges.  We saw this past week websites crashing, call centers overloaded, and millions of questions left unanswered.  To be fair, all new things have their bugs whether it’s Windows 8 or the new iOS7 platform.  We have grown accustomed to anticipating problems.  However, as forgiving as we typically are, there are some things that drive us to shop elsewhere.  As an example, many people I know are considering switching to a DROID-based phone after Apple’s recent iOS7 release that seemed riddled with problems.  Likewise, many folks still haven’t upgraded to Windows 8 as they are not pleased with Microsoft’s new platform.  But where will people go when not happy with the exchanges?  Perhaps a different exchange?  Maybe through their broker?  The fact is, it’s yet to be seen what choice we will really have if completely dissatisfied with the new way we need to secure our health coverage.

The next few weeks will test our patience, as well as, our prior held beliefs.  Those in favor of healthcare reform may have a change of heart and to be fair those opposed to its passing may find they actually like it.  Regardless, our government has some significant challenges it is facing over the coming weeks and given its recent history of being unable to work together toward a common outcome, the likelihood that we will actually get a solution to these big problems is slim to none.  Instead we’ll kick the can further down the road, place a temporary band-aid on our debt problem and more likely be forced to delay another aspect of the ACA implementation.

Perhaps the biggest risk of a government shut-down is psychological.  A loss of confidence, stature, and respect.  A shut down pushes us further away from our once-held position as the leader in the world, a country with great ideas, the best talent, and an unquenchable thirst for perfection and progress.  Shutting things down signifies giving up, and that’s simply Un-American.

The 7 Question Marketing Effectiveness Quiz

On By Joe DeRosaIn MarketingLeave a comment

Marketing

Whether a start-up or mature, large or small, restaurant or manufacturer, Marketing plays a vital role in the success of every business.  And while specific tactics may look different depending on your product or service, it’s important to have a clear understanding of the return on your marketing investment.  Setting up a Marketing dashboard is critical to providing you with this insight.  To get started you will need to have a thorough understanding of your business, your customers, competition, overall marketplace economics and trends.  Getting started requires time, focus, commitment and most importantly a complete acceptance of reality.   Take the 7 Question Marketing Effectiveness Quiz below to see how informed and prepared you are to lead your team to victory.

  1. Do you have a written definition of what a lead is?  Many companies have no clear definition of a lead.  In many cases a name alone represents a lead.  Marketing may generate a name and provide it to the Sales organization to contact leading to a false sense of demand creation.  A name is NOT a lead.  However, YOU need to decide what a lead is for your company and obtain the agreement to that definition from others on the executive team most importantly the leader of the Sales team.
  2. How many channels are you working to generate leads?  Is it just a sales team?  Do you use your website?  What about strategic partnerships?  A multi-channel marketing strategy provides greater possibilities to expanding your company’s reach and distribution.  Additionally you will find that certain channels present higher close ratios or stronger average sales prices.  While managing multiple channels requires resources, and subject matter expertise, you will find this approach yields better results as opposed to a single channel approach.
  3. What is your ROL by channel?  Do you know what your return-on-leads are by channel?  For example, you have a direct sales force, a website, and a strong accountant referral channel.  Each day, week, month, you generate leads through all 3 of these channels.  What are the close ratios per channel?  What is the average selling price of your product by channel?  What channel coverts the highest rate of leads to presentations, and how many of those presentations result in a sale?  Having insight into your ROL will help you focus on making the improvements necessary to grow your business.
  4. Does your website have lead-conversion capabilities?  Is your website static or dynamic?  Is it set up using responsive web design (RWD)? Do you have a mechanism in place to track the incoming visitors to your site and follow-up with the appropriate messaging and content?
  5. How much content do you have on your site and how fresh is it?  Do you have a content management strategy?  Do you provide free content to those that visit your site?  How do you decide what content to produce?  Who writes it?  How often is it refreshed?  What do you do with the feedback you get from prospects or customers that download your content?
  6. Do you have a blog?  Many businesses feel they don’t need to blog because their product or service is in a class of its own and doesn’t require blogging.  That’s simply not true.  Every company can and should blog.  There are always topics relevant to your potential buyers for you to be blogging about.  Whether you sell party supplies, automotive repair, or chimney cleaning, your target market is looking for content.  Blogs are a great way to increase your internet search results and get you found faster.
  7. Who is responsible for Marketing?  If you can’t answer this questions with a name, find one quickly…even if it’s you.  Think of it this way…if you pay the bills for your business and keep your own books, you may not have the title of CFO but you know who’s responsible for the finances of your business.  Likewise, if you’re the one doing the marketing, you’re the one responsible for the growth of your business too.  Someone has to be accountable for Marketing otherwise it simply will not get done.

Your answers to these questions provide the insight necessary to begin to develop your marketing dashboard.  Let me know if this was helpful.