Tag: Management

Where To Look When Customer Attrition Ticks Up

On By Joe DeRosaIn BusinessLeave a comment

UnhappyFace

You’re approaching another quarter-end and your customer retention numbers seem to be headed in the wrong direction. You look around and come up with some quick explanations as to why you’re losing customers. The economy, your competitor that’s selling on price, Obamacare, and lack of sophisticated systems round out the top of your list of excuses. Hey, I get it. Those are the easy ones to point to. The excuses that you can’t control and those that make the blame game so much more tolerable. But if you really want to know why you’re losing your customers start by doing the following:

1. Ask a few that have already left. It always strikes me how apprehensive business people are to follow up with a former customer to inquire as to why they left. Doing this provides an opportunity to reopen the door and establish some goodwill in the form of listening to what’s important to them.
2. Walk the floors. Many executives still hide behind their glass or wood doors. They isolate themselves from reality claiming to work on the “important stuff” as they develop strategies to grow the business. The problem is that many executives don’t know what the issues are and therefore will never be able to develop an effective business strategy. The challenges and opportunities of your business are well known to the “rank and file” employees – the ones interacting directly with your customers. Talk to them and ask them what’s going on.
3. Get in the field. Another tactical initiative that is required to build effective strategies. Meet your customers, your suppliers, referral sources, and partners. Get involved, ask lots of questions. Focus on THEM. Listen. Forget show and tell. It’s not about you.
4. Establish a customer advisory council. Put together a council consisting of existing customers of different industries and sizes. Create a charter that tasks the council with identifying problem areas and possible opportunities. Bring the council together twice a year if possible and two other times during the year by phone. Listen.

The fact is that it’s probably an obvious reason why you’re losing customers. For most businesses and their leaders they just don’t want to listen. It’s easier to blame characteristics that are uncontrollable. But those leaders that roll up their sleeves, get in the trenches, and ask the tough questions are those leaders that have the best chance of reversing poor customer retention numbers.

5 Ways To Make Your Meetings More Effective

On By Joe DeRosaIn BusinessLeave a comment

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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?

Losing Key Employees? Stop Making Excuses and Face the Facts.

On By Joe DeRosaIn LeadershipLeave a comment

wake up

I can’t believe he left! What was she thinking, it’s not gonna be any better there. You know the grass isn’t always greener on the other side.

These are some of the most popular reactions from companies who continue to lose key employees. And I stress the word “key” because mediocre employees never leave. Key employees, those defined as progressive thinkers, customer advocates, or challengers to the status quo will always have opportunities to go elsewhere. It’s the employers responsibility to create an environment that is so loved and appreciated that these folks never entertain leaving.

Okay, some reading this may say, “wait a minute, it’s not my job to make people love their job, after all I’m already paying them and that’s where my responsibility ends.” To you I say think again. Leave your “you’re lucky to be employed” feelings at the door. Look around you. Today’s top employers are winning by providing employees with work that is meaningful, purposeful and an environment that is respectful and fun. No it’s not just about having fun, but that’s a necessary ingredient that can’t be ignored. Like leaving brown sugar out of your chocolate chip cookies, fun left out of the work environment will lead to work that’s bland, boring, and even bogus.

In a recent Forbes article on the things make a company great to work for, the number one ingredient for a great place to work was a strong culture. People spend more time and energy working to improve and succeed in a place where they are challenged, supported, and trusted. When you work for a company that micro manages, does not promote professional development, and reserves decision-making just for the company gods, you’re likely to end up with a workforce that’s numb, unengaged, and just looking to get through another day. Meaningful work simply cannot be done in this type of environment.

So to the managers and business owners running your companies as if you’re the only one(s) with ideas, it’s time to open your eyes. Stop running and start leading. Stop micromanaging and start providing opportunities for people to make decisions. And perhaps most importantly, especially for those entrepreneurs that started their business, stop thinking everyone is out to get you. While some people subscribe to the belief that paranoia is something every business person should have, I believe that paranoia should be reserved for your competitors. Be paranoid that your competitors are out to get you because they are. But don’t be paranoid that your employees are plotting to take you down. Trust them. Trust is one of the most powerful gifts a leader can give his or her people. Trust empowers, and empowered employees make for remarkable results.

Great Mentors. The Difference Maker.

On By Joe DeRosaIn Business, LeadershipLeave a comment

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In my previous blog, 5 Important Differences Between a Coach and a Mentor, I provided clear differentiation between these two advisers. Both play a valuable role in your development but go about it in entirely different ways. Understanding your current circumstances and having semi-clear objectives – goals – is critical in knowing which, a coach or mentor, would provide the greatest value.

While most coaches tend to have very specific areas of expertise, mentors are completely opposite. Mentors bring a broad set of skills, perspectives, insights and opinions to your developmental party. If you are fortunate enough to have a real mentor in your life consider yourself blessed…and lucky…for they’re not all that common. Remember, you select a coach, a mentor selects you. Great mentors can come from a variety of areas in your life. A relative, a friend, co-worker, boss, or business associate can all be potential mentors. What are the ingredients that make a great mentor?

  1. Deep life experiences. These experiences do not need to be in the area of your specific profession. The mentor has been in and around many different situations that have provided them with incredible insight and perspective.
  2. Demonstrates a personal interest in you. The mentor takes a proactive role in wanting to help you by providing valuable feedback, and guidance. Often times they proactively reach out to check in with you rather than waiting for your call.
  3. Excited and passionate about your development. The mentor never makes you feel like you’re on the clock. Instead they make you feel like they exist specifically to help you. Their energy and authenticity is tangible and easily recognized.
  4. Honest in a positive and constructive way. The mentor provides hard-hitting, honest feedback and observations, but does so in a way that doesn’t put you on the defense, or belittles you.
  5. Teacher, Coach, Counselor, Motivator all rolled into one. The mentor has a natural ability to weave in and out of these roles effortlessly with a near “cloak of invisibility” as they do so. Their deep understanding of you allows them to take the role most effective for the situation at hand, with the genuine intent to aid in your development, while never lecturing or criticizing.
  6. Trust. The single most important ingredient for any great mentoring relationship is trust. A strong, trusting relationship with a mentor creates the bond that is necessary for free-flowing, honest, personal, and sometimes difficult feedback without the fear of embarrassment or intimidation.

Great mentors do all these things and more. Having the benefit of a mentor gives you the ability to make better decisions, broadens your perspectives, and often times provides the clarity you need to move forward. These unique and wonderful people grace us with their active presence in our lives, teach us in ways others can’t, and provide us with the strength we need during life’s most crucial moments. Great mentors are in fact the difference makers in a life full of success and personal fulfillment.

Your Leadership Style + Your Company Culture – Is There a Disconnect?

On By Joe DeRosaIn LeadershipLeave a comment

perception

Carrot and stick.  And so goes the age-old debate of how to achieve great business results.  Do you shower your employees with accolades and pats on the back?  Or do you focus on the consequences for under performance?  Is your tone one of optimism and assumed-success?  Or is your temperament such that you lead with a, “if we fail” mentality?

There are as many different leadership styles as there are leaders.  Our styles are born from our life experiences from childhood, up to and including, the role we currently occupy.  How you were raised is as important as how you were managed in the first several years of your career.  Most experts agree that the “formative years” for a child occur in their first 12 years of life.  Likewise, the formative years of someones career is their first 5 years in the workforce.

Human beings are natural-born observers.  We watch.  We absorb.  We learn.  We take what we learn and begin to construct potential outcomes for the scenarios we encounter later in life.  Like, cause-and-effect, we begin to build a mental inventory of outcomes based upon actions and reactions.  We learn how to alter outcomes by changing our actions or behaviors.  Yet we all learn in different ways.  Two people can experience the exact same event and have completely different views or perceptions of that event.  And herein lies the formula for how our leadership styles evolve.

Are you a positive motivator or negative?  How do you know?  Ask yourself the following questions:

  1. Do you work in your office all day with the door closed?
  2. When was the last time you sent a communication to recognize a team member?
  3. How often do you walk around the office making eye contact, saying hello, and simply engaging people?
  4. How many people on your team do you rate as a top performer, and if so, when was the last time you told them how much you appreciated them?
  5. Are you losing more than 20% of your employees each year?
  6. Do you hold regular team meetings or even informal get-togethers?
  7. Do you consistently meet, or miss, your numbers?

How you answered these questions may be an indication of your style of leadership.  On the other hand it may also be a reflection of the culture within your workplace.  Either way it’s worth your time to evaluate.  Why?  Because there are several reasons to have a true understanding of your personal style and that of the culture in which you work.  If you genuinely want to build lasting value – for your company or your client – the first step has to be the development of relationships.  In the absence of trusting relationships a company will not be able to experience sustained growth, and nor will you.

According to an article published earlier this year by Forbes, the number one reason people left their job was for stability reasons.  People leave when they don’t feel secure.  Insecurity is often the result of a bad manager.  In fact a subsequent article in the Huffington Post Small Business, it cites the number one reason employees quit is “Their boss sucks”.  Micromanagers and poor communicators topped the list of horrible bosses.  The negativity that flowed from these bosses infected the workplace so much so that people run for the doors.

According to the American Institute of Stress, the top 2 causes of stress in the workplace are work overload and people.  The AIS estimates that stress causes American businesses more than $300 billion each year in lost productivity with a major contributor being a negative workplace.  So how can you change it?  First change your behaviors.  Try doing these three things each day:

  1. Walk around the office at least twice a day and say hello to folks.
  2. Work with your door open (if you have an office) when you can.
  3. Look for the good things that are happening and recognize them.

These are all within your control.  If you’re working for a company that has a negative-tone culture you may need to reevaluate what’s most important to you.  Remember, jobs come and go, but your reputation stays with you no matter where you are employed.  Don’t let the dynamics of an organization define who you are and how you act.  If your belief system is in direct conflict with the office culture, you may need to make a change.  Great teams are built by great leaders, and to be a great leader you’ve got to recognize and acknowledge that your people are in fact your biggest asset.   Only by growing your workplace relationships, developing trust, and displaying respect will you be able to develop a high performing team.

No Promotion, Now What? Ask Yourself These 4 Questions.

On By Joe DeRosaIn BusinessLeave a comment

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It’s been a grind for months.  You’ve been working 12 – 13 hour days and weekends to prove you can do it and do it well.  All eyes are on you.  The project you’re in charge of is critical to your company’s future success.  It’s a big deal.  You complete the project and sit back ready to be showered with accolades and compliments by your boss and your peers.  Deep down you know this will be your defining moment…your own personal Mozart Concerto.  You wait…wait a bit longer…still longer…and nothing.

Wow!  What happened.  Your finished work was unbelievable.  You peers and other industry partners even commented on your end result.  Your boss seemed pleased along the way but hasn’t shown any real celebratory emotion.  Of course after all, aren’t you expected to deliver high-quality, near-perfect work?  This scenario is not atypical, but in actuality very common.

So what do you do when you hit this wall?  What actions should you take when the work you thought would seal a promotion turns out to do little more than generate a brief passing smile in a hallway at the office?  Do you quit?  Leave?  Complain?  Ask these 4 questions to help you determine your next course of action.

  1. Why did I expect to be promoted in the first place?  Perhaps you assumed that by delivering an amazing performance you’d somehow get that big title or bigger paycheck.  You may have even believed that your boss would just create a brand new position for you with the big title.  Maybe in a prior conversation your boss alluded to “big things” for those who step up and deliver a solid performance.  If the reason you expected your work to result in a promotion doesn’t contain a “this for that” in your explanation then you yourself have set yourself up for disappointment.  Learning:  If you take on a project, job, initiative that you expect will lead to advancement, be clear with your boss up front about this and get their reaction and their commitment before starting.
  2. What can I do to improve my performance?  This is a tough question to ask.  Most of us believe we’re already doing all the right things.  We sometimes confuse hard work with smart work.  High performers are constantly learning, constantly seeking knowledge, new ideas, perspectives, etc.  Focus always, on improving yourself first.  Personal development should never be weighed against a promotion.  Learning:  Adopt the attitude that you will be the best at your craft regardless of what happens in your work environment.  Even if you don’t get that promotion you can still have confidence in your ability to produce great results. And ultimately those results will be recognized even if by another employer.
  3. Is my boss my advocate?  Does your boss share success or does he take all the glory?  What happens when things go bad?  Are you hung out to dry or is your boss there to absorb a “team loss”?  Does she create situations that allow you to shine and be recognized?  Has he taken the time to introduce you to his boss to create an opportunity for interaction?  Learning:  A boss that lacks confidence or self-esteem will always be a barrier to your progress.  If you find yourself working for a boss that fits this profile…and progression is important to you…you may need to move on.
  4. What do my peers think of me?  This is perhaps the most overlooked area when dealing with promotions or lack of.  Many organizations have implemented performance programs that gather feedback from your peers to include in your annual performance review.  The ever-popular “360” became all the rage in the early 2000’s and still exists today with some variations.  A poor relationship, rapport, or perception of you with your co-workers can kill your career aspirations as quickly as those of a bad boss.  Learning:  Put yourself out there.  Build relationships with your peers as well as those above and below in the organization.  Most companies today place great value on workers who are proficient in influencing, bridge building and negotiating.

Especially in times when the outcome did not match your expectations, self-reflection is critical.  Taking an honest look inside will always help bring perspective to each and every experience you encounter.  Thomas Paine said, “The real man smiles in trouble, gathers strength from distress, and grows brave by reflection.”  Basically know…it’s okay to talk to yourself.