Tag: Business

5 Investments You Should Make in Yourself Today

On By Joe DeRosaIn Leadership1 Comment

books

Your mind and body are indeed your most valuable assets.  Most people would say their home.  And while on paper that may be true, without your mind and body nothing else matters.  Here are 5 investments you should make to strengthen both:

  1. Read – Your brain is the most important organ in your body, controlling all bodily functions including your muscles and other organs.  Reading, especially fiction, improves your brain connectivity and function according to a recent Emory University study.  In addition to the health contribution reading has on your brain, it also helps in developing your thinking skills, perspective, and decision making skills by filling your brain with more ideas and insights.
  2. Exercise – Study after study, year after year, we know that exercising each day produces huge benefits for the body, mind, and soul.  According to WebMD, the body’s release of endorphins caused by exercise increases self-esteem, reduces the perception of pain, and creates a positive feeling in your body. Knowing this, how could anyone argue against the value of exercise?  If you’re working out now, great job.  Continue.  If you’re not exercising now, start with just 30 minutes, 3 days a week.  A walk, a jog, push-ups, whatever you chose but start.
  3. Pay it Forward –  Time is your most scarce resource.  Some people horde it.  Others squander it.  I’d suggest you invest it in others.  I spend hours each week with people in my network.  I’ve helped countless friends and associates with resumes, interviewing tips, sales strategies, branding practices, and other areas where my expertise can add value to them.  I am most excited, most engaged, most rewarded when I know I’ve helped someone improve and develop themselves.  For me, paying it forward creates a feeling of pride, improves self-confidence and raises self-esteem.
  4. Clothing – Here’s a tricky one. Remember the saying, “dress for the job you want”?  Whether you like it or not we’re a society of first impressions.  That means that what you wear does matter.  You don’t need to break the bank for a good look.  Guys, you don’t need a dozen suits in your closet.  You can alter the look of one suit with ties.  One black, or blue suit, has endless possibilities by changing your tie.  Ladies, same thing for you with the exception of accessories.  Pins, necklaces, blouses can quickly change the look of a single suit.  If you’re working in a more casual environment dress “crisply”.  Pressed shirts, nice jeans or kakis, etc. Remember, work is still work, not a party, not a social gathering.
  5. Accessories – Everything from glasses, watches, briefcases, portfolios, pens, earrings, jewelry (not too much), pocket squares, cuff links, and shoes.  This is another area where investing in just one or two accessories can make a big difference.

Your Doctor May Be Your Best Sales Coach

On By Joe DeRosaIn SalesLeave a comment

doctor

In my previous blog post I talked about a selling strategy that helps to eliminate lost sales.  Lost due to a disconnect between the prospect and the sales person.  A communication miss fire on either end is responsible for every sale not made.  If the sales person is communicating and observing the prospects response, or reaction, there should be no last-minute surprises of lost business.  In fact, if you were really honest about it, most of the time you knew deep down that sale was going nowhere.  But the sales gods have been clear for decades that you never give up, never walk away, always be closing, and never take no for an answer.  If you’re into self-deprecation that might be exactly the approach you’re looking for.  But for those of us who are interested in transcending the age-old image of a product pusher to one of a true sales professional, looking for the “no” is how you should approach each sales opportunity.

For years I have taught and coached sales teams across a variety of different industries to approach a prospect as a doctor approaches a patient.  Curious, thoughtful, prescriptive and honest.  Here’s how:

  1. Curious.  The first thing a doctor does when he/she enters an exam room is begins asking questions.  What’s going on?  When did it start?  Is it like this, or like that?  Do the symptoms increase in intensity during certain times or are they constant and unchanging?  The doctor is beginning to diagnose your problem.  Asking questions, no matter how uncomfortable they may be, is the first step to a proper diagnosis.
  2. Thoughtful.  In my experience (and to be completely honest I believe I have the world’s greatest doctor) great doctors never provide knee jerk responses.  They go through their diagnosis phase and take a moment to process the information they’ve just gathered.  Sure this process step may take seconds, but in most cases pay attention the next time you go to the doctor and watch for that “medical processing pause”.  This refers to the time it takes for the doctor to thoughtfully provide their assessment and prescribe next steps.
  3. Prescriptive.  Depending on the assessment of what’s wrong with the patient the doctor may have one to many different prescriptions to offer the patient.  The prescription may not be solely medicine related.  A doctor may prescribe physical therapy, or eliminating a specific food from your diet.  He/she may also prescribe a mobility aid such as crutches or a walker, or even a sling or splint depending on the injury.  The point is that in many cases there are a variety of paths forward and the doctor presents these options in the form of prescriptions.
  4. Honesty.  This element of the doctor-patient relationship is the most important.  No matter how good the doctor is, if there is no trust that exists between him/her and the patient the above 3 ingredients are useless.  By the time the doctor gets to the prescription phase of the patient examine, he/she is presenting options along with their personal choice.  How many times have you heard a doctor say, “if you were my son”, or “when my mom went through this we decided to do…” The trust and honesty that exists between a doctor and patient – their ability to communicate transparently with one another – is the ingredient that results in the patient’s ability to improve their condition.

The relationship between a doctor and patient exists for one of two reasons:  to fix something currently broken, or to avoid something breaking in the future.  Isn’t that the relationship between you and your prospect?  The prospect has either agreed to meet with you because something in their business is currently broken or because something may be changing that may cause something to break that they’re trying to avoid happening.  Regardless of whether it is a current problem or future, follow the 4 steps above and you’ll find a more engaging, trusting, and action-oriented relationship develop between you and your prospect, soon-to-be customer.

Are You Losing Sales? It’s Probably The Last 3 Feet.

On By Joe DeRosaIn SalesLeave a comment

table

Successful outcomes are the result of many different elements including preparation, practice, and skill.  With every action comes a reaction and the intensity of that reaction can be linked to the effectiveness of the originating action.  If you walk at a slow pace for exercise it will take longer to work up a sweat as opposed to a brisk walk or even a jog where you will sweat much quicker.  Action versus reaction.

How often have you left a sales call wondering where things went wrong?  You didn’t get the business.  The prospect seemed on board but decided to go in a different direction.  That reaction, whether we’d like to admit it or not is the direct result of an action we took at some point during the sales process.  In fact, the primary action that results in lost sales is communication.  Clarity of communication, followed by the ability to process that communication, is where many sales people fall flat.

In his book Exceptional Selling, Jeff Thull talks about “the last three feet” as being the distance that separates a prospect from a sales person sitting across a table from one another.   How often have you felt you’ve done everything right and in your final meeting – in that last three feet – with the prospect, you learn they decided against doing business with you?  It’s happened to us all at least once.  If you have been selling for years it’s most likely happened hundreds of times.  But why?

The main reason for this disconnect centers around a miss fire in communication.  You either said something to the prospect that turned them off, or you said the right thing that disqualified them as a prospect but you were too stubborn to see it.  We’ve all been taught to never walk away from a sales opportunity.  Further we  have been told for years that everyone is a prospect.  These ideas are just flat-out false.  Not everyone is a prospect and the quicker you find out who presents a real opportunity the better you’ll become at selling.  Remember your time, money, and energy are only of value to you so protect them.  The faster you can sort the real opportunities from the imaginary the better.

Watch for my next blog when I’ll present a sales strategy I have used with great success that eliminates the risk of the last three feet.

 

Start Innovating: The One Question to Start the Discussion

On By Joe DeRosaIn Business, MarketingLeave a comment

Question

Is your business stuck in a rut? Are sales slow, stagnant, or even declining? Is your product commoditized or becoming irrelevant? How should you move forward?

The answer for most companies is obvious…innovate. The problem is not in the what, but in the how. Innovation is a challenge for even the very best and impossible for the newbies to the game of innovation.

Mature companies that produce known products or deliver staple-like services are the most prone to the innovation dilemma. They’ve done what they’ve done for so long that the mere test of time suggests they know what the markets need and what their buyers want. Arrogance and complacency drive their strategies and plans, and often times they are able to putter along treading water, buying time for “things to change”. They are not change leaders but change followers.

Here’s a simple question you can ask those you work with to get an innovation discussion going: What would Amazon or Google do? If Jeff Bezos owned this company, or Sergey Brin, what would they do to change things?

It’s quite possible the owner or other executives will balk and provide sarcastic responses like, “he’d probably dump the business”, or “if we had Amazon’s brand recognition we’d be in the clear”, or even “they’ve got millions to spend to do whatever they want we don’t.” Try to keep them focused. Remind them that each of these companies began as a dream and then moved into the realm of small business. They didn’t start out as the financial behemoths they are today. Each time their businesses got comfortable they broke them and started working on something new…consciously. If you had to break your business today how would you do it and what would you focus on next?

Innovation is not easy. It’s scary, unpredictable, uncertain, risky, and can be terrifying. To not innovate can actually lead to all of the same emotions. So if that’s true isn’t it better to be in control than to be controlled.

Ask that question today.

What It Means To Lean In

On By Joe DeRosaIn LeadershipLeave a comment

Trapeze

Life happens.  We have ups and downs, good times and bad, successes and failures.  It’s easy to be positive and happy when all’s going well but the reality is that nothing goes perfect forever.  Eventually even the best of us, the hardest working among us, and the most optimistic will be tested.  That’s life.  How we deal with those tests determine our success, state of mind, and fulfillment.  Notice I said fulfillment and not happiness.  Fulfillment in life comes from experiencing all life has to offer including the good and bad.  We learn and grow far more from our failures and the bad stuff than the good.  It’s during the times we are tested the hardest that our character comes to light and we grow as human beings. So how do you handle the bad times?  How do you deal with some of the tests life throws your way?  You lean in.

Years ago I was working through a rather difficult period in my career.  I was running Sales for a company that was in turnaround mode.  The company had experienced some success but was on the ropes with just about everything seeming to go wrong.  Sales and service were both failing and cash was tight.  Our employee morale was withering away to nothing.  With each stumble there were layoffs and cutbacks which led to a growing distrust across the employee population.  I had never seen anything like it before, and what had worked for me in the past wasn’t working now.  Frustration was running high and doubt was setting in.  That’s when I talked to Jeff.

I shared my thoughts and concerns with Jeff, a Board member and mentor.  I walked him through my plans, my thought process, and my confidence level relative to making the turnaround.  As a hugely successful entrepreneur, businessman, and corporate CEO, Jeff listened, sat back and said, “You’ve got all the right pieces. You’ve thought everything through.  Now you’ve got to lean in.”  This was the first time I had heard this phrase.  It certainly sounded good coming from Jeff but I needed to understand exactly what he meant by it, so I asked.

Leaning in, is about positive momentum.  If you’re on your heels self-doubt and second guessing quickly set in and you’ll surely fail.  You could have developed the best plans possible but failure will still visit you because you lacked conviction. Fear of failure causes us to lean back.  Failure makes us second guess ourselves and those around us.  It makes us focus on the wrong things.  When we lean back we’re looking for a way out, an excuse, someone to blame. We often get caught up in worrying about how others will perceive us should our plans not work out.  Fear that our personal reputation will be tarnished. And by leaning back we don’t fully commit.  We have one foot in and one out.  We’re the trapeze performer with a safety net under us.

In listening to me Jeff sensed I was leaning back.  He knew I had put a great deal of thought into the plan I developed.  He knew I identified the most probable risks and put plans in place to mitigate them.  But I was still leaning back.  He stressed the importance of leaning in.  He said, “Imagine you have no safety net under you.  What would you do?” And then he said the one thing that all great leaders don’t just say but demonstrate…he said, “Joe, I support everything you’re doing.”  Those words, backed-up by my faith and trust in him as a leader, gave me the added strength I needed to lean in.  To commit and not look back.

So when tough times arrive, or when everything seem to be going wrong, lean in.  Way in.  Imagine not having the safety net and that’s when you’ll realize that failure is not an option and you’ll make a bad situation into a good one. And most importantly find your “Jeff”.  A mentor is an absolute necessity to help you navigate the stormy waves of life.

10 Things a Leader is NOT

On By Joe DeRosaIn LeadershipLeave a comment

Badleader

Remember that bad boss you had a couple of years ago?  Every interaction caused stress, disappointment, and sometimes regret.  Here are some characteristics NOT found in great leaders.

  1. Selfish.  Great leaders make it all about their teams.  There’s no “I” in team and the leader knows that and embraces it.
  2. Mean-spirited.  Strong leaders lead with dignity.  They understand that even when corrective action is required every employee deserves to be treated with dignity.
  3. Know-it-all.  The best leaders are continuous learners.  They do not claim to have all the answers nor do they believe they themselves are the only ones capable of generating great ideas.
  4. Placating.  Successful leaders understand the need for honest and direct communication.  They do not shy away from conflict or pander in order to win popular opinion.
  5. Narcissistic. Effective leaders have an inner confidence that allows them to operate without ego.  Not so say they don’t have an ego but they are able to keep it in check.  They don’t have a need for others to know who they are, what they have, or how important they believe themselves to be.
  6. Micro-manager.  Accomplished leaders know that they must have the details but cannot micro manage.  They give trust to their teams and provide opportunities to people to take risks and practice their decision-making skills.
  7. Disingenuous.  Thoughtful leaders know the importance of service to others.  They have a strong moral compass knowing that others can see clearly who they are and likewise can feel their authenticity.
  8. Thankless.  Purpose-driven leaders understand the importance of gratitude.  Being gracious for a job well done separates a good leader from a bad leader.  There’s nothing wrong with expressing your gratitude or thanks to an employee who did a good job even though a good job is what’s expected.  It’s often the smallest acts of kindness that embolden a team to its leader.
  9. Ignorant.  Learning leaders recognize all things change including their products, their markets and their customers.  They can’t afford to be caught with the short end of the intellectual stick and are constantly working to educate themselves and their teams.
  10. Indecisive.  Enduring leaders know that making decisions are required for leadership longevity.  Those that shy away from making decisions, difficult or easy, don’t last long as leaders.  Indecisive leaders are some of the most difficult leaders to work for.

And one bonus characteristic that ALL leaders DO possess…ownership.  All great leaders embrace ownership.  Ownership of their teams, their decisions – good or bad – their plans, strategies, ideas, and opinions.  These great leaders never look to place blame, often times to a fault.  They are able to shoulder great weight and responsibilities with a sense of ease and grace.

Are you a good leader?

Critical Insight When Making Tough Decisions

On By Joe DeRosaIn Business, Leadership1 Comment

decision

If you need to make a difficult decision make sure you understand your surroundings as much as you understand the facts and details of what it is you’re trying to decide upon.

I recently had lunch with a colleague to discuss some key decisions that I need to make in our business surrounding strategy.  I presented my facts, beliefs, and experience with great passion.  My plan was both logical and well thought through.  I knew however that some of my decisions, while believed by the team the correct ones to make, would create some discomfort.  Why?  Because while we can all understand logic, and positive correlations, we are after all human beings, and human beings dislike change no matter how sound, logical, positive, or necessary that change is.

My colleague, who has years of experience and incredible wisdom said to me, “be aware of the issues that are not part of the issues.”  This statement perplexed me.  I didn’t understand.  When I asked her to explain she provided this wonderful story that provided the clarity to what she was saying.

For years she had her hair cut by the same stylist.  Through life’s many trials and tribulations, ups and downs, good times and bad, this stylist cut her hair and listened to her stories.  As times changed she wanted a new hair style but the stylist was unable to provide the cut she wanted.  She knew she had to make a change but her feelings and emotions of abandoning this stylist were strong.  She is an intensely loyal person and the thought of ending this long-standing relationship was quite troubling.  Her head told her it was the right thing to do but her heart was most certainly conflicted.  So while the issue at hand was achieving a new hair style, the emotional issue tied to her sense of loyalty came to the forefront of her making the decision to go elsewhere…hence the issue (emotional), not part of the issue (new hair style).

Bottom line:  It’s critical to understand emotions when making a decision. Your emotions as well as those of the key stakeholders involved in that decision are paramount to effective decision-making.  Emotional history, sometimes referred to as baggage, can play a major role in decision-making.  Being aware of these issues, that are not part of the actual issue being decided upon, can help you frame your approach.  Your decision is your decision.  It’s the “how” (the approach) you present your decision that can often times become the difference between effective decision-making and holding the status-quo.

 

Why Failure is Your Friend

On By Joe DeRosaIn LeadershipLeave a comment

Failure

Years ago I read the book Failing Forward by John Maxwell and it had a profound impact on my life. I grew up in an ultra competitive home where me and my sisters were raised to believe that failure was not an option. As I entered the workforce and began my career I carried this belief with me only to learn, in short order, that failures can happen regardless of the actions taken.

From bad bosses (you know who you were), to poorly run companies (you know who you were as well) to jobs I simply didn’t like, failure began to approach my doorstep uninvited. I worked hard, pressed forward, acted with persistence and determination and still experienced my share of failures.  I’ve missed sales numbers, hired the wrong people, and had sales and marketing campaigns fall flat.  Yup, I’ve seen my share of failures.

Sometime after turning 40 I began to view things differently. For the first time I was able to look back at my failures not as failures but as critical learning events that took place at a moment in time. I’ve been battle tested, failed at times, yet have come out stronger each and every time.

We learn when we fail. In fact I’d argue the quality of education we get from failure is vastly better than the education we get from success. Success is simply the culmination of multiple failures. If at first you don’t succeed, try, try again. The greatest inventions ever were the result of countless failures. Many of the world’s most deadly diseases were cured only after countless failures while looking for a cure. Thomas Edison once said he it took more than 10,000 tries to invent the light bulb.  What if he gave up at 9,000?  I’d hate to think I’d be writing this in the dark.

The point is that we learn from our failures…if we allow ourselves to.  Here are 3 things that failure helps to improve:

  1. Decision making.  Making decisions is a tough business.  It requires speed, thoughtfulness, intuition, and experience.  Experience comes through both failure and success.  The more you have of both the better decisions you will make.
  2. Mental health.  The sooner you embrace failures as your friend and not your enemy the quicker you’ll be able to look at failure for what it is…a teacher.  You fall off your bike and you know it’s not the end of the world so you get back on.  You get laid off from a job and find another so now you know that losing a job isn’t a life sentence.
  3. Leadership.  Personally I want to work for someone who’s failed…at least a few times.  I’m much more willing to march into battle behind a battle-tested leader than someone who is entering their first rodeo.  Leaders who have lived the highs and lows are typically more stable offering a steady hand in times of stress as they’ve seen it before and know they can navigate through it.  While it may sound odd to say, failure is one of the biggest ingredients to building confidence.  The more you know you’re capable of handling the more confident you will be in yourself.

So rethink your opinion of failure.  It really is your friend if you let it be.

5 Ways To Make Your Meetings More Effective

On By Joe DeRosaIn BusinessLeave a comment

Improve

Another meeting?  Most days start with meetings and end with meetings.  We spend our days running from one to another, whether in person or via the infamous conference call.  Some companies can’t operate without having a meeting to discuss even the smallest of decisions or topics, while others work hard to minimize the number of meetings they schedule. It’s not that meetings are bad, it’s just that most of them are an ineffective use of time. Little is accomplished during these meetings other than wasting the time spent being in the meeting itself, as well as the time spent preparing for that meeting.

So how can you increase your level of meeting effectiveness?

Here are 5 things you should do before scheduling a meeting:

1. Create and include a clear meeting objective. Provide a brief summary of the purpose of the meeting. Be sure to state whether this meeting is meant to inform, solicit feedback, or make a decision.
2. Invite the right people. The key word here is “right”. Don’t get caught up inviting the entire company to make sure you’ve CYA’d yourself. Have the right people there. The type of meeting you have set will determine who you should invite.
3. Be clear on your time. If you need an hour then schedule an hour. If you believe that your topic may go over an hour then plan accordingly. People hate to attend meetings that consistently run over. You don’t want to create the perception that you’re a poor planner.
4. Provide materials in advance. Many people feel that meetings should be somewhat of a surprise. I can’t stand that approach. Time is valuable for everyone. Why wait until the meeting to drop a 20 page deck on people. Give them time to read through it and absorb it. Having the ability to formulate questions, thoughts, and opinions prior to the meeting is key to running an effective meeting.
5. Schedule critical meetings during the day before 4 pm. The fact is that human nature is such that most people find getting invited to a meeting that starts at 4 pm to be annoying. Hey I know you have to be in the office until 6 pm anyway but still in all, people look to the end of their day to wrap up items that were opened during the day. Many 4 pm meetings become nothing more than place holders to reschedule another meeting when people are prepared, ready, and engaged.

Try taking these 5 actions before scheduling your next meeting and see how much smoother your meeting runs.

Stop Trying to Fit In and Start Being Remarkable

On By Joe DeRosaIn LeadershipLeave a comment

remarkable

Everyone wants to fit in. To be a part of the crowd. Some people go to extremes to remain invisible whether at school, the office, the gym, or anywhere else in pubic. Blending in is part of our culture. Why do you think brand names like Nike, Levi’s, Coke, Asics, Hollister, and Target are so valuable? They represent the main stream. Sure they offer quality and value but they also offer a strong emotional connection to safety. I’m safe if someone sees me wearing Nike, shopping at Target, or buying a Diet Coke.

But success doesn’t come to those who play it safe. Success isn’t for the faint of heart, or those who want to be part of the crowd. No. Success usually comes to those willing to take chances, to challenge the norms of society, to stand out and be remarkable.

Are you remarkable? Do you stand out at work or are you one of the crowd? Do your co-workers look at you as a thought leader? A progressive thinker? Or are you one of the many doers that get things done but not the one “cutting the edge?” Do you invest in building your personal brand? Are you working to create awareness around your ideas and opinions or are you silent, laying back, waiting for the next set of directions to come your way?

History is a great teacher of the correlation between remarkable and success. Thomas Jefferson, Steve Jobs, Donald Trump, and The Beatles all were remarkable for their time. Dimon, Reagan, Lincoln, and Gates made bold decisions, often unpopular, but remarkable in ways that led to great discoveries, financial stability, and peace through power.

We all have the ability to be remarkable. We may not all be Thomas Edison’s or Michael Dell’s but we each possess unique characteristics that if amplified make us remarkable. A great sense of humor, the ability to provide calm during turbulent times, or being able to rally people together for a common cause can be remarkable characteristics. What makes you remarkable?