Monday, May 5, 2008

Progress on Gary's Book

Just Ask: Greatness Happens When You Ask!

The research is complete. We conducted two focus groups, and in the first focus group we beat out the two bestselling books that we were compared to. In the second focus group we beat out one of the two bestselling books. Given ours was only in rough format, that's pretty exciting. David Brake, CEO of Content Connections (the firm that we are working with to improve the messaging of the book), says that we can expect a marketing plan any day now. I hope to report that the book and the marketing plan will be sent to Jonathon Lazear, one of the most respected literary agents in the country, by the next newsletter. Yahoo!

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How can I ignite imagination?

Dear Readers;

Gary Beck says that igniting imagination comes from rubbing minds together. With all of his leadership and marketing experience (as former President of FCB Database Marketing Group and former Executive Director of Database and Infrastructure for vehicle sales and services marketing at General Motors), he ought to know.

Naturally, questions are an integral part of bringing people (or minds) together. At your next strategic planning session, consider starting with personal accumulation: asking each group member to write down all the potential solutions that they can think of to a particular question. When pens come to a rest, ask group members to share one idea, then proceed in order around the room until all potential solutions have been voiced. In doing so, everyone will get heard, and group members will listen closely so that they don't repeat an idea.

Be sure to use open-ended questions that don't point responders to your opinions or cut off potentially creative avenues. Here are some you might ask:

• What is most important to the customer?
• What are clearly differentiable aspects of the product that we are trying to sell to the customer?
• How do we best communicate this particular aspect to our target customer?
• Who is our target customer?

Some group members may generate a ton of ideas—inspired either by the promise of getting their ideas heard or in a spurt of competitive energy. Some group members may not thrive under this time-pressured scenario, so don't cast judgment. They may well prove their worth in the development and support of others' ideas.

Not all ideas will be usable, of course, or worthy of extended discussion, but don't dismiss anything initially. The biggest impediment to creativity is having critics or skeptics in the room. The group will take its cues from you, the leader/moderator. Make it clear up front that all ideas are welcome—no matter how hare-brained or obvious or radical they may first appear. Those ideas may be the ones most easily missed—and perhaps most indispensable.

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Wednesday, February 27, 2008

Why you need a business plan!!!

Q:In last week’s column, you gave advice about starting a business, and you kept preaching about writing a business plan. I own a business, I don’t have a plan, and I’m doing just fine. What’s the big deal?


A: How do you know your business is doing “fine” if you do not have a business plan? This is like a runner stating that he is “fast” when asked his running pace. Quality and success cannot be measured without having benchmarks and goals. A business plan provides both, allowing you to compare your outcomes to your goals. Without a plan, it is all too easy to keep moving the bar for yourself.

In the words of Alan Lakein, “Failing to plan is planning to fail.” Business owners may neglect planning for a variety of reasons. They may dislike making decisions, or they may worry about how the plan will reflect their success. An owner may feel anxious about documenting (and making “official”) job descriptions, lines of authority, budgets, and marketing plans. An entrepreneur may dread such control measures, feeling that a business plan is just like having a boss! If you build a house without a plan, however, you may find yourself living in what looks like a child’s play fort. Every stage is based on a sudden inspiration, and your new home becomes “curiosity run wild.” A quality architect begins with his or her final product in mind. To build a secure business, you must plan. According to the Small Business Center at Bradley University, 70 to 80 percent of new businesses fail in their first year, and of those that continue past a year, only half survive to five years. Similarly, statistics from Dun & Bradstreet reflect that only 37 percent of businesses with fewer than 20 employees will survive four years, and only 9 percent will survive ten years. In light of such daunting statistics, it seems foolish to take unnecessary risks – like failing to plan.

You may still be thinking, “I can’t make a plan, because things change too quickly.” Although constant change is inevitable in any business, a good plan can be your key to dealing with change. As a sailor, I view a business plan as similar to a centerboard on a small sailboat. Thanks to its centerboard, the boat can continue moving forward, as the winds shift direction; without its centerboard, the boat would flail around and eventually crash. A good plan keeps you consistently moving forward – sometimes slowly, sometimes quickly, but without crashing!

While writing your business plan, you may feel frustrated. After all, you will be writing your goals, without taking immediate action to reach them. You must understand where you are and where you are going, before going anywhere. Writing a plan can be exhausting, too. I guarantee, however, your listless feelings will disappear, as your business transforms from “doing just fine” to “doing very well.”

I hope my response to your question is sufficient and gives you an understanding of why I believe a business plan is critical. Below are some questions to consider while developing your plan:

• Why do I want to start my own business?
• Have I found the right business for me?
• Who are my customers?
• What do these customers need that the market is not currently providing?
• How will I reach them?
• What will it take to reach them?
• How much will it cost to provide for their unmet needs?
• How much are they willing to pay to meet these need?
• Can I make money at this business?

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Leadership At the Top

Q: I lead a small company, and I manage it very tightly. In meetings, I find I am the only one offering ideas, while others do not contribute. Although my ideas have really worked to grow the company, I feel I am doing it alone. What should I do?

A: If you think you are talking too much, so does everybody else.

Growing up with movies like “Patton” and watching world leaders on the news every night has led to the illusion that leadership means repeatedly giving your opinions. The old school of “command and control” management has been around for decades, passed from one generation to the next. Some leaders may lack self-esteem, and the notion of controlling others may seem an attractive alternative to being controlled.

Remember: If you are not asking questions, you are making assumptions.

Mike, a former CEO and Chairman of a Fortune 100 company, would lead a meeting by first asking a question. He would then listen to the answers from each person present. Mike did not believe it was his job to give his opinion, but to listen to and observe the problem solving of others. He would monitor the room for how people were contributing and, if he noticed someone was not speaking much, he would be overly encouraging and supportive toward that person. This was true even when the employee’s comments were not on track with Mike’s agenda. Mike found that, by providing heavy doses of support over a course of five or six meetings, he could usually draw the employee out to be a fully functioning part of the team. Mike was clear that, if the employee continued to be withdrawn, it was likely he or she would have to move on.

When he encountered an employee who was talking too much in meetings, Mike applied a different strategy. Careful to avoid belittling the person in front of others, Mike would make a sharp comment or a non-verbal gesture that emphasized his desire to hear from everybody.

As a coach, I have been intrigued by Mike’s technique of asking a single question. I have witnessed other leaders use similar techniques, but found them to be somewhat limiting. A team often needs leadership, rather than just consensus. Mike demonstrated that his technique still provided leadership. If certain employee comments began guiding the discussion away from the company’s visions, goals, objectives, and values, Mike would simply ask, “How does this help us meet our goal?” or, “Is this in alignment with our vision?” He had a motto, which he taught to everyone, including me: “E3: Earnings, Earnings, Earnings.”

Mike tells the story of an analyst who asked him about his goals for the company. Mike’s answer was simply, “Earnings.” When asked if he had other goals, Mike said, “Oh, yes. Our second goal is earnings, and our third goal is earnings.” There was no need to ask about additional goals!

As a true leader, Mike ensured understanding. He had a clear message and a clear focus. Printed on company shirts, hats, and posters, E3 became the symbol for driving the corporation forward. When an employee’s comments were not aligned with E3, Mike set the employee back on course and made it clear to others that this was not acceptable.

Mike understands the value of asking questions and doing what all great leaders do – LISTENING. If you want to see change in your company, follow Mike’s example: Ask the question, then be silent and listen. The books on leadership speak much about courage. It takes courage to trust your team. It takes courage to believe your employees will deliver ideas and execute them successfully. Facing the fear of giving up control is what I call “Leadership at the top.” You may be surprised how much your people know and want to contribute.

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