Category: Planning

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Network Your Way to Business Success

 

If you’re an aspiring entrepreneur, growth is a key factor in your business start-up’s success. Networking is a great way to immerse yourself in the world of business and can help you develop a base following from which to grow. ITB Business Partners – Management Consultants can be a valuable resource when it comes to providing high value-added solutions to your most pressing challenges.

What Is Networking?

Networking is basically an opportunity to connect with other people as a way to establish or advance relationships, identify potential areas for collaboration, and meet prospective clients and customers. Networking is a term used to describe everything from attending business functions to how you follow up with people you’ve been connected with or introduced to through others. As the term implies, your goal with networking is to build alliances, meet new people who can help you advance your business, and amplify your connections. It requires a sincere approach, so if you’re a hard-sell personality, you might need to temper yourself during in-person networking situations.

Why is Networking Important

While there are certainly many ways you can go about marketing and advertising your business, developing relationships, requires a more personal one-on-one touch leading to more robust business relationships. For example, if you’re in a networking event and meet somebody who provides printing services, which you need, you’re more likely to feel comfortable with someone you’ve met and spoken to than somebody you’re found online. These personal connections can be long-lasting and profitable. Your goal should be to establish mutually beneficial alliances. Once trust is established, the relationship can grow and business opportunities will follow.

Where to Network

So where are the best places to network? According to Copper Chronicles, there are a surprising number of places to network once you’re in a networking frame of mind. You can connect via online or in-person business functions offered by small business development centers, chambers of commerce, and Rotary clubs. You can also attend conferences, trade shows, and business networking events specifically designed to connect business leaders. You can also network at volunteer events, particularly those that are associated with your line of work or your Industry. Virtual networking is important too, – you can start with LinkedIn and your social media platforms. Don’t forget non-traditional yet effective methods – talk to other parents at kids’ sporting events, go to charitable events and fundraisers, join your local PTO, and if you belong to a house of worship, serve on a committee and arrive before service for coffee and connecting.

Preparing to Network

Before you start seriously networking, make sure your business is well-positioned. This means having a website, social media presence, and a business card that has your business name, your name, your website, contact information, and potentially on the back, a few bullets, or a brief overview of the products and services your company provides. To make a memorable impression, consider looking for a way to design your own business cards. Using a premade template for your cards allows you to customize your work by adding images, text color, and the fonts of your choice. Make sure your card matches your company brand so you make a notable impact.

Maintaining Networks

In addition to building networks, maintaining them is also important from a customer relationship management perspective. Don’t consider the people you’re connecting with as just “leads,” but rather, as people you can learn from and build a foundation with. In other words, develop a relationship in which you stay in touch, get coffee or lunch, offer support where you can in the form of referrals, and take an actual interest in them and their business. Establishing trust and learning about one another’s business goals can aid in finding ways to collaborate. According to Business News Daily, giving more than you ask for is another great way to establish solid connections.

While there’s nothing new about the concept of networking, digital marketing has allowed us to connect in a number of different ways, some of which will require different approaches. Be strategic in your approach to ensure you’re getting connected to the people most likely to help you build and grow your business. Click To Tweet

ITB Business Partners – Management Consultants help business managers solve their problems by matching them with high-quality independent management consultants who are experienced leaders, discipline experts, and project managers. Visit the site to learn more, sign up for the company newsletter, and reach out directly for more information.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

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Starting Over: Building a Business After the Pandemic

As the United States emerges from the COVID-19 pandemic, many people are deciding it is time to chase their dreams and work on starting their own business. According to research, this happened many times during state shutdowns. If this is your first time venturing into entrepreneurial aspirations, learn about what you can do to get started on the right foot with this guide from ITB Partners.

Finding a Business Idea That Works

Before doing anything else, it is crucial to find a business idea that works. It doesn’t necessarily have to be complicated. Consider your experience, skills, and education, and what you would like to do.

Perhaps you already have skills as a hairdresser and want to work for yourself. Maybe you have lots of experience with animals and would like to begin a dog walking and boarding business. There are plenty of business possibilities to help you get started.

Setting Up and Making It Legal

Once you decide what your business will involve, decide on a name for your company and begin the process of setting it up. You may choose to make it a sole proprietorship, an S-corporation, or a limited liability company.

If you choose an LLC, know that there are many benefits associated with this, such as limited liability, less paperwork, certain flexibility, and even advantages when it comes to taxes. Depending on the state you live in, there are different regulations when it comes to setting up an LLC, so make sure you research those first. If you want to outsource the paperwork and avoid dealing with an attorney, you can use a formation service to help you.

Networking and Meeting Other Professionals

No matter what stage your business is in, make it a priority to network with others. Click To Tweet This will help you find your new clients, introduce you to professionals to help build your business, and make it easier to get referrals and reach out via word of mouth.

Look for events such as Network After Work. You should also start talking to people you know, even if the last time you were in touch was high school or college. There are plenty of online tools that can help you find contact information so you can reconnect again, allowing you to build your circle.

Creating a Marketing Plan for Your Company

All businesses need a marketing plan. Start putting together ideas of how you want to reach your client base. This can include using social media, direct mail marketing, having a website, going to trade shows, and using promotional materials, to name a few.

If you plan on adding images to your company’s marketing materials or you are working on an image with a graphic designer, you may find it easier to compress JPG files so you can email them with ease. However, compression can sometimes degrade the way the JPG file looks. To combat this, use a JPG-to-PDF converter, which can allow you to make your JPGs into PDFs while keeping the same quality. You can even do this with more than one file at once.

Creating Space and Enlisting Services

In getting your startup off the ground, you want to ensure that you’ve got a designated space at home where you can work. If you go as far as upgrading an unused room to a home office, you may even improve your home’s value. Just make sure that you’ve got the privacy and resources you need.

You’ll also want to set up a great website for your business and see to it that your cyber security is looked after. Online threats are growing ever more numerous and widespread, and they can threaten both your business and your customers’ information. Make sure you are all protected with a comprehensive plan.

Getting Support From a Mentor

Running a business can be hard. Rather than try to go through it alone, get help and support from a mentor. Business mentors can give you ideas on what problems you might run into and provide advice when you aren’t sure what is best for your company.

No matter what your reasons are for starting a business, it is possible to get the support and guidelines necessary for success, as long as you take everything step by step.

This article is brought to you by ITB Partners, a consortium of independent management consultants providing high value-added solutions to your problems. Our consultants are experienced leaders, discipline experts, and project managers. Our industry expertise ranges from consumer packaged goods and manufacturing to supply/chain,  logistics, and the service sector.   Additionally, we have depth in consumer services franchising, specifically restaurant, hospitality, retail. For more information, please contact us today!

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

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5 Start-up Mistakes To Avoid

Image via Pexels

Starting a  business can be a roller-coaster experience. Even the most seasoned entrepreneur has ups and downs when starting a new company. As a new business owner, your best strategy is to plan for mishaps while avoiding as many as possible.

There are many missteps you should watch for, but some are more common than others.

    1. Failure to use the Right Business Structure

You have several choices for registering your business. Some of the most common are:

      • Corporation
      • Limited liability company
      • Sole proprietorship
      • Partnership
      • S corporation

One of the simplest entities to set up is an LLC. It has various benefits for your company, such as flexibility, limited liability, tax advantages, and less paperwork than a corporation. If you decide an LLC is the best structure for you, check the rules in your state before moving ahead. States have different regulations regarding LLC formation. If you’d prefer to let someone else handle the upfront work, you can save on lawyer fees by using a formation service.

 

    1. Failure to Plan a Product Rollout

A new product rollout can be a risky venture. At the same time, it may be vital to your growth. With so much at stake, it’s worth taking time to get it right. You could face a launch flop if you rush the process along or fail to plot each step.

Try using an online product roadmap template to make your product unveiling a success. This tool can help you outline your strategy and the steps to create a product roadmap. It can also organize each team member’s assignments. A template simplifies the process. You can:

      • Assign priorities to tasks
      • Create themes
      • Set deadlines and goals
      • Understand customer pain points

 

    1. Failure to Lead

Not everyone realizes the number of executive decisions you make as an entrepreneur — even without employees. Your company’s fate often lies solely in your hands.

Assess your weaknesses and strengths. Determine if you have some of the essential leadership abilities:

Consider taking online courses or hiring a consultant from ITB Partners specializing in leadership development.

    1. Starting a Business With Family and Friends (Without Thinking It Through)

For some families and friends, going into business together works well. However, that’s not always the case.

Opening a “mom-and-pop shop” doesn’t have to be a recipe for failure. Before you do so, ask yourself a few tough questions, including:

      • Do you have compatible business values?
      • Do you have clearly defined roles?
      • How would it affect your relationship if your enterprise failed? According to statistics, about half of all new companies survive the first five years.
      • Are you capable of overriding your emotions when you need to make impactful decisions?

Finally, keep in mind that the market fluctuates. Along with it, your business may experience inconsistencies. These factors can change the dynamics of your working relationship as the balances of power or responsibility shift.

    1. Underestimating the Competition

Even if you have a unique offering, consumers have alternative solutions. They can choose another product or just buy nothing. Tips for getting their attention include:

      • Providing a customer-centric experience by making your business about them, not your product
      • Establishing your credibility by being transparent and following through on promises
      • Highlighting why your product is different than others or why your customer can’t do without it

If you can learn from your mistakes while avoiding the big ones, you can successfully get your company off the ground. Preparation combined with some training can be your best bet as you set off on your entrepreneurial adventure.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

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Leverage Your Time and Grow Your Business

Over the holidays, I was able to catch up with my friend and colleague, Stan. He often calls me when he is on a road trip. This time, he was traveling through Kentucky to work with a client in northeastern Ohio. As with most of our conversations, this was wide-ranging, including personal and business-related topics. We talked a little about Covid-19, politics, scotch, and cigars, and of course, Football. When we talk Football, it’s NCAA Football in general and the SEC.

Eventually, the conversation turned to our respective businesses, which occupied the remainder of our time. Stan’s business is booming! He is unique among Independent Consultants as he doesn’t suffer the feast or famine cycle. He has a strong network that feeds him new business regularly. That is the good news. The bad news is that he would like to retire. The revenue has been exceptional, however. So good that it has crowded out any recent consideration of retirement. But now, the workload is starting to take its toll. Also, he has other interests he wants to pursue. So, we chatted about him getting serious about making a transition toward retirement.

I asked him if he’d ever thought about taking on a protégé or two. It wasn’t the first time I raised that issue with Stan. He’s never been too keen on the idea, however. He believes that his network refers business to him because they know his capabilities and the quality of work he delivers. I agree with him in that assessment as far as it goes. But I seriously doubt that anyone expects Stan to do all the work himself. I told him that I believe he is laboring under the mistaken belief that his referring agents expect him to do all the required work himself. I am not buying it! Although the client expects results, they are not so concerned about how he achieves those results, assuming there is minimal disruption to their daily routine. Click To Tweet I would wager that if Stan asked his network, they would agree with my assessment.

Leverage Your Consulting Projects

    • Employ Subcontractors
    • Train Subcontractors to become protégées
    • Offload lower value-added work assignments
    • Provide quality control and oversight
    • Expand the business while working the same hours or less

The apparent solution to Stan’s dilemma is to find subcontractors to perform the work under his direction. Employing subcontractors would give him more free time. Early on, Stan may be required to train these folks to complete the job to his expectations. However, once trained, Stan can work with the subcontractor to plan the scope of work, then let them execute the plan. Of course, Stan would provide oversight and direction.   He would be the account manager, providing supervision and quality control.

Another way to approach winding down would be to divide the workload between high and lower value-added activities. Stan could assign the lower value-added activities to a subcontractor or protégée while taking on the more significant value-added workload. Again, he would free up his time while developing a resource to aid him in his transition.

Most independent consultants would be delighted to have Stan‘s problem. Instead, many fight the feast or famine cycle, trying to smooth out the peaks and valleys while growing their business. Often, these folks are not marketing themselves at the most basic level. However, they can still benefit by developing protégés or subcontractors to help them leverage their time during the cycle’s peaks. Better yet, they should consider marketing their services to someone like Stan, who needs help. They should consider growing their business by seeking work as a subcontractor.

Summary and Conclusion

The fundamental question Stan must resolve is, does he want to retire and close his business entirely, or does he want something that continues to generate income throughout his retirement? Then he must determine how to transition from one state to the next. Stan has an enviable position. He can afford to close his business and live comfortably. On the other hand, if Stan could maintain the business with minimal effort, there would be an additional source of cash flow to enhance his balance sheet. Furthermore, he would have an asset to sell or leave to his heirs. Stan has some exciting prospects to consider.

For more reading on growing your independent consulting business, check out these links.

https://www.mbopartners.com/blog/how-grow-small-business/how-to-grow-your-independent-business/

https://www.mbopartners.com/blog/how-grow-small-business/how-to-grow-your-independent-consulting-practice/

https://www.mbopartners.com/blog/how-grow-small-business/how-to-stay-competitive-as-an-independent-contractor/

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

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Before You Start a Business, Consider This!

So, you want to own a business.  You have an idea for a product or service that the market needs. You want to be rich.  You have studied other successful startups and understand the factors for success.  You have moved past friends and family who have tried to dissuade you from your goal.  You have the funds and a plan to get your business off the ground. You are confident of success.  But have you considered everything you need to know?

Many successful entrepreneurs begin by forming a Board of Directors.     An Advisory Board will provide a broader perspective, improving the effectiveness of your decisions.   The advice you receive will minimize costly mistakes which could otherwise doom your business. Board members may receive a stipend, or they may be volunteers. Voluntary advisory boards have become commonplace for many startups. Talking with organizations like Score and finding a mentor are additional resources to consider.

Find Low-Cost Ways to Advertise

Now Hear This!

Getting the word out about your business doesn’t need to cost much money. Begin by establishing an online presence. Potential customers will want to visit your website.  Be proactive.  Provide answers to common questions, making it easier to convert their interest into sales.  If you have not done so already, create social media channels for your brand. Facebook and Twitter are popular places to start. Depending on the demographics of your target market, you may want to try others, too. If you are targeting older individuals, a direct mail campaign could be the most cost-effective solution.

Consider Running a Special

 To increase the probability of generating a sale, offer a special one-time deal, like a two-for-one promotion or a gift. You might do the same for current customers who refer friends or family members. When someone purchases your product or services, please give them a reason to continue trading with you.  Consider offering discounts for future purchases. These sales tactics can kickstart your business and give you the financial boost you seek.

Determine Which Functions to Outsource

 Savvy entrepreneurs know that managing labor is a critical component for success.  They live by the principle of “do what you do best and let others do the rest.”  We are fortunate to live in a time when we can contract relatively inexpensive outside resources.  To ensure accuracy and minimize risk, outsourcing financial management and payroll is advisable. Outsourcing recovers time to focus on more urgent tasks. Using an automatic payroll solution provides other benefits, like automatic calculations and paying taxes. Payroll apps are  available for both iOS and Android. Taking on too much responsibility can lead to burnout and costly mistakes. Think about outsourcing to reduce stress and improve your productivity.

 

 Improve Your Business Acumen

 As your business grows, your focus will shift to your management and leadership skills. Taking college-level business courses or earning an MBA could be a difference-maker. Unlike a traditional college experience, online degree programs make it easier to maintain your business while you learn.  Continually update your skills to ensure long-term success.

Adjust Your Business Plan as Needed

Although business plans look good on paper, actual results seldom unfold as envisioned. You must monitor your results consistently and adjust accordingly. Click To Tweet Be flexible and willing to take steps to keep your company on track.

Financial setbacks can happen to anyone.  They can be incredibly distracting when you are trying to establish a new business. You may feel discouraged and lose confidence in yourself. Well-meaning family and friends may pressure you to get a traditional job and forgo your dreams altogether.  Don’t let setbacks discourage you from pursuing your dreams of entrepreneurship.  Expect to suffer difficult situations.  Build contingencies into your plan to weather challenging times.

New Century Dynamics provides excellent executive search and management consulting to the service industry. To learn how New Century Dynamics can help your business, contact James E. Weber at JimWeber@newcenturydynamics.com.

Derek Goodman

derek.goodman@inbizability.com

Image via Pixabay

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

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Build for Success

This week I had an interesting conversation with a senior executive recently released from a major brand. Let’s call him John. He has the benefit of an Outplacement Program, which will be helpful as he has not had to look for a new job in a very long time.  He reconnected with me to discuss his situation and to seek my help. John was interested in my opinion of his goals relative to the current market for his skill set.

John gave me the background on his separation, saying that it related primarily to the COVID-19 pandemic.   His former company is restructuring to better adapt to the competitive situation, eliminating his position.  He went on to say that their culture has deteriorated. He said it had reached a point where he no longer felt comfortable working there.  He was upbeat about his prospects, however.

John’s recap surprised me as his company has executed a successful re-positioning program. It has been rocking the market.  I was disappointed to hear about their current situation. I had thought their culture was far stronger given their recent success.

When I ask job seekers to describe the ideal situation they seek, I usually hear the same response. People are looking for a growing brand with products they respect. They want to join a company that is a good corporate citizen with a healthy culture that rewards excellence.  You know, utopia.  More precisely, a major brand like the one they just left, only better.  John was not an exception.  He is looking for the same thing. However, he will soon learn that his opportunity is with emerging brands, not established companies.

The demand for people like John is with companies that can only aspire to his ideal at some future date. Even before the effects of the pandemic, employers were more focused on maintaining their competitive position and profitability than building a culture for long-term success. These companies are struggling to remain relevant.

I do not mean to say that no one is trying to create a great work environment. I have several clients, albeit mostly startups and emerging brands, that are making an effort to build distinctive cultures.  They are following established models that support standard management practices.  I applaud their wisdom and enjoy helping them staff their team.

Other clients have become spectacular failures, in part because they did not make it a priority to create a culture supportive of their ambitions. In some cases, the culture was rotten at the very top of the organization. In one situation, the Executive Team was so out of sync regarding strategy and execution that they inadvertently created a chaotic environment. The result was Chapter 11 reorganization and, ultimately, liquidation of the business.  I could write a book about that situation, but the short story is an excellent concept destroyed by incompetent leadership.

Maintaining a culture to support success through each stage of a company’s life cycle is not easy. Click To TweetOften, the people who helped you through startup, for example, are not viable as you move into rapid growth employing professional managers. Some people will be able to adapt to the challenge, but others won’t. How do you tell an employee that helped the brand achieve the initial success that they cannot go to the promised land? All you can do is make their separation as positive as possible, recognizing them for their contribution to the company.

Having completed a bit of research,  I found a rich bibliography for your consideration. Much of what I found describes how to build a culture of excellence.  I have provided links at the end of this article if you are interested in further reading.

Healthy cultures do not just happen.  It requires a concerted effort.  I have seen the powerful effect of a rigorous focus in this regard. Companies that build their cultures enjoy the benefits of sustained success, including a definite recruiting advantage.  If you believe you have a competitive product and an effective strategy, ensure success by focusing on your culture.  This effort will probably require the help of outside resources.  There are many firms to consider that will enrich your process with credibility and expertise.  Their experience will help you proceed at a quicker pace while avoiding common mistakes.  If you want to build a culture of excellence, I suggest you get started immediately and reach out to professionals for help and guidance.

https://www.hrexchangenetwork.com/hr-talent-management/articles/7-tips-for-creating-a-culture-of-excellence

https://medium.com/@andrewsenduk/how-to-build-a-culture-of-excellence-c9689b852d30

https://www.firedupculture.com/culture-of-excellence/

https://www.fingerprintforsuccess.com/blog/culture-of-excellence

https://www.bizjournals.com/bizjournals/how-to/growth-strategies/2014/04/3-key-steps-for-building-a-culture-of-excellence.html

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

 

 

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Matching

“But pattern-matching doesn’t equal comprehension.” Peter Watts

Stephen H Dawson, DSL

The thought of finding a perfect job applicant to fill any role in any organization seems impossible. It seems impossible because it is impossible. It is impossible because people are imperfect. They are imperfect as they tend to change over time.

We are working on developing your leadership skills by working on the need you have to swap out some people in your organization. The need is formed by your strategic planning work being behind schedule where you identify it is neither a workspace nor worker skills problem. We discussed last week how to approach the assessment work of job applicant credential packages. We discussed a few weeks ago the linear relationship between worldview, ethics, morality, and virtue. Today, let's talk a bit about determining if a suitable match exists between a job applicant you have and each role you need to be filled in your organization. Click To Tweet

The matching work at hand involves much more than only considering a suitable match between the job applicant and each role you have to fill. It also involves considering the match between the job applicant and the organization. Remember, your organization includes any matrix-supplied folks involved in doing work with your people, your customers, your strategic partners, and your supply chain network. The job analysis we discussed last week may not have included these attributes. However, they need to be in there. If they are not, then the job analysis must be revised to include them as applicable.

OK, let’s proceed from the point of having a satisfactory job analysis as we consider job applicants to see if you have a viable candidate for each role you need to fill. We need to first look at some terms before looking at applicants. These facts may seem harsh, but they are a crucial part of your assessment work.

ORGANIZATION ANTIBODIES

An antibody does the work to neutralize either a pathogenic bacteria or virus. The intent of the pathogenic is to help, but it instead causes harm. An organization antibody is a person who does not want to follow your leadership. They resist your leadership either passively or actively.

Nicholas Evans described how an antibody could suffer the pursuit of innovation. Evans cited an article by Mitra Best, who described antibodies in a corporate setting. Both Evans and Best provided recommendations about how to remediate each antibody form. What they did not do address in their writings is why an organization antibody has so much power over their boss.

Think about the folks in your organization who have been there a long time. They have not been promoted to a senior role because they have either a character deficiency, a skills deficiency, or both. They hold the belief they know it all and tell anyone who will listen to them they know it all. This person is an example of an organization antibody. Deep down, they believe they are running the organization. They believe they are doing what is best for the organization. They refuse to listen to reason. Therefore, they have no ability to have cognitive awareness to know they are causing harm. They are as cancer is to the body.

Antibodies

CANCER

Cancer is a disease defined by abnormal cell growth. It is possible cancer could be misinterpreted as a nodule, a small bump. A small bump could occur due to one of several conditions. The indication of a cancer being present does not appear until cancer grows to be a problem. Untreated cancer spreads in a condition known as metastasis. Early testing for cancer helps to overcome cancer unawareness. The value of proper testing here is beyond measure.

I shared several weeks back, “I cannot say a person is evil, as I do not believe it is possible. I can say their actions are or are not evil.” I maintain this position. I shared a few weeks later about evil. The attributes of organization antibodies and cancer have considerable overlap with one another. They both have no ability to have cognitive awareness to know they are causing harm. They both consume a massive amount of resources as they spread. They both spread through the host, either the body or the organization, in a progressive manner. The rate of spreading is inconsistent, so not relative to objective analysis. They both have a high mortality rate, both literally and figuratively.

An organization member allowed to mature into an organization antibody is an event that does not occur overnight. It is without question the presence of an organization antibody is the result of a failure by leadership, human resources, and learning & development. Note I do not identify either a manager or a team leader as responsible here. I hold this position because their roles are not able to have an overarching view of the organization. The reasons for such failures are endless, but the leadership, human resources, and learning & development staff hold collective responsibility for the damages caused by an organization antibody.

I hold the position the only way to treat an organization’s antibody is to remove them from the organization and place their leader on a rapid performance improvement plan. If I do not see substantial adherence to the performance improvement plan by their no-longer leader in my eyes, then their no-longer leader is no longer a part of my organization. The corrective action to address the human resources poor performance is to replace the human resources business partner serving my organization immediately. The corrective action to address the learning & development staff performance is to replace their leader serving my organization and place all learning & development staff on a rapid performance improvement plan. All activities and I mean all activities, performed by the learning & development staff for my organization cease until there is credible evidence they are each qualified to perform learning & development work. The support necessary for the human resources and learning & development staff corrective actions may require support from your boss. You should be able to get it without difficulty since you have credible proof of the harm caused to the organization by their respective failures to deliver quality work.

SKILLS

The term credential is the combination of work experience, education, degrees, certifications, and licenses earned and held by an individual that each has relevance to each role you need to fill in your organization. These individual credentials then feed into forming organization credentials. All aspects of any credential must be validated during the job application process by your organization. You must hold, without a doubt, a clear understanding of the abilities each job applicant holds today. What credentials they held in the past may be nice to know, but that was then. You are evaluating now.

Gaining credentials from a source that is not accredited is possible, but the validation process becomes much more costly to accomplish. It may not be possible to validate a credential that is not from an accredited source. A non-validated credential is termed as hope but not a credential.

No alt text provided for this image

PERSONALITY

We discussed last week the value of third-party testing. The cost of testing each applicant may not be worth the expense. The need is still present to know the personality of each applicant. If you do not have the ability to fund personality testing a job applicant you advance to candidate status to know if they are a viable candidate, then your ability to advance applicants through your evaluation process is reduced. How much of a risk can you afford to take at this point in the assessing-to-matching process?

You have rooted out those job applicants who do not hold the skills necessary to fill each role you need to be filled in your organization. You know you cannot afford to interject harm to your organization by bringing in an organization antibody. You are wondering if you can afford to measure a personality without an objective third-party test. The answer is you cannot. You will have to bear the risk of going forward without measuring personality should you chose not to use third-party personality testing. This risk will have to be managed as any other risk.

WORLDVIEW

We discussed worldview a few weeks back. You are wondering how the applicant’s worldview matches both your worldview and the worldview held by those in your organization. You can get this information from the screening call. I addressed last week how to go about this action during the interview you conduct with them. Specifically, you are looking for their position on social and political matters. You must follow fair employment laws to be a credible leader. So, how do you get this information?

You get this information by asking three questions. One question focused on a social aspect. One question focused on a political aspect. Then, one question overlapping both a social and political aspect. Use three different aspects in these three questions. Write the questions to be as figurative as possible. Look for timeless topics common across all cultures, present in all points of history, having reasonable belief they will be present in the future. These answers will provide you enough information to know if you have an applicant that can advance to a candidate.

RECOMMENDATIONS

If you are matching applicants without a third-party personality evaluation, then you must accomplish this evaluation in the next step of your interviewing process. You cannot experience success in finding a suitable candidate without performing a clear personality evaluation. Prepare for the costs of third-party personality evaluations.

Record all screening calls. Have the calls transcribed. Read the entire transcript. Listen to the parts of the audio recording you find interesting by way of the transcript.

Match the notes of the person conducting the screening call to the call transcript. Identify any mismatch in what the caller observed in comparison to the response of the applicant. This mismatch will help you understand if there is a personality or worldview mismatch with your organization. It will also help you qualify the work of the person conducting the screening call. This collective understanding will arrive because you have a satisfactory job analysis, you wrote the questions for the screening call, and you placed boundaries on the screening call. This reasoning is found in the plan we discussed last week.

I recommend you take time this week to consider the impact of an organization antibody in your organization. Prepare your screening call questions based on the material we covered this week. Finally, look for providers of counseled results interpretation to assist you in selecting applicants to become candidates based on the plan we discussed last week.

So, I ask you: where do you want to go? I hope your answer is to develop the plans necessary to accomplish the strategy you know you need to achieve to arrive at your desired destination. If this is the case, then let’s get to work. If not, then I wish you the best of everything.

I hope we will see each other here next week. Email me if you need to talk before then.

COMMENTARY CATALOG

http://www.shdawson.com/commentary/

Dr. Stephen H. Dawson, DSL

Executive Strategy Consultant

Stephen Dawson is an executive consultant of technology and business strategy, serving significant international organizations by providing leadership consulting, strategic planning, and executive communications. He has more than thirty years of service and consulting experience in delivering successful international business development and program management outcomes in the US and SE Asia. His weekly column, “Where Do You Want To Go?,” appears on Thursdays.

Dr. Dawson has served in the technology, banking, and hospitality industries. He is a noted strategic planning visionary. His pursuit of music has been matched with his efforts to lead by service to followers. He holds the clear understanding a leader without followers is a person taking a long walk alone.

Stephen has lived his life in the eastern United States, visiting most of the United States and several countries. He is a graduate of the Regent University School of Business & Leadership. Contact him at service@shdawson.com.

Thank you for visiting our Blog!

Jim Weber – Managing Partner,  ITB Partners

Jim Weber – Managing Partner, ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

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Power

“Don’t be afraid to give up the good to go for the great.” John Rockefeller

Let’s talk today about you as a leader. You seem to be a good leader who is looking to become a great leader. You are not operating in fear. You are working to accomplish your strategic planning, but it is not going so well. We have discussed at length you have decided you need to swap out some of your people to have the work finished with excellence. Your power as a leader is about to be challenged in a way that you may not be prepared to handle. It will be challenged because you are implementing a construct to your leadership style that involves loving your followers. My friend, prepare to be soon hated by more people than you realize now.

Love, hate, power. These are big words that will take many conversations to cover appropriately. Today, let’s focus on the term power.

There are many types of power. You know this is true, or you would not be in a leadership role now. The essence of power is possessing some form of harnessed energy. We need to focus our conversation about power on the aspects of social combined with political and then economic. Let’s have a conversation today based on the power attributes of supply, demand, and outage.

You have plenty of room in this landscape to realize success even though others around you may not be operating in either humility or love. Click To Tweet

SUPPLY

You supply leadership to your followers through three components. First, whatever higher power you may have helping you do whatever it is you do to live this thing called life. Second, you possess concise, tangible, relevant skills transferable to many roles to do endless amounts of work. Finally, the enablement assigned to you by your boss is commensurate with your role in your organization. You then take these components and do your work as a leader. All components are not equal among all people, as not everyone has the benefit of the same higher power, obtained the same skills, and have the same enablement assigned to them. Therefore, all leaders are not able by this construct to be as effective. Some leaders may be more effective than others, while other leaders may be less effective.

Note I did not say you need an office, telephone, a budget, or any other tool necessary to accomplish your role as a leader. These items are conditional based on the state of your work environment. What you need is a suitable combination of skills and choices applied to your leadership role. The higher power and enablement parts are not from you, as they are delivered to you.

The doing part of your role is the manifestation of your leadership components. Doing your leading by way of humility encapsulates the power components in a manner greater than any combination I know of to accomplish leadership. There may be a more effective combination out there, but I have not found it.

How does humility fit into the power aspect of leadership? Compare the definition of humility with the definition of power. They are both nouns. A noun is accomplished through a verb. So, what verb to use to accomplish both humility and power? I recommend doing what we discussed in the verb of love. There is no prideful act of love, only a humble act of love. So, our conversation today will match power, humility, and love in accomplishing your role as a leader.

Preparing your humility to deliver love could be a larger effort than a single discussion will suffice to accomplish. You need to tell me about your humbleness for me to know how to best equip you for success. I leave it to you to tell me about your humbleness.

Power Supply

DEMAND

I shared a few weeks ago you are now in organization design mode as you move to replace some of the people in your organization. You will find out quickly who in your organization wants to do their work by way of the plan you have shared with them to use love to accomplish the strategic planning work, along with all of the other work performed in your organization. I make this statement based on the social and political power struggle present in many nations today. If you need me to cite some examples of this struggle, then I doubt you would be in the leadership role you fill now.

The demand for your leadership by followers could come as acceptance, rejection, or conditional acceptance. The acceptance-rejection-conditional combination is the same layout as the love-hate-ambivalence combination we discussed a few weeks back. You will find leading and loving people are an inseparable pair. Note I did not say leadership. A leader may be successful or unsuccessful in their leadership. A successful leader always leads. An unsuccessful leadership effort means the leader is not leading.

Your leadership power supply is being refused by two of these three options. Take the actions I shared with you recently to resolve any refusal by your followers. The rest of your folks want the leadership you are supplying, as they have accepted your Love Action Items list. Furthermore, they processed effectively your communications involved with you teaching your people the four definitions of love. This group is now your organization. The folks who have either rejected or accepted conditionally your new construct to your leadership style that involves loving your followers are on the way out of your organization. They are trying to usurp your leadership with their power, per their choice not to follow you any longer. This condition does not exist in a productive organization. It is at this point your hope of finding suitable applicants for the roles you wish to fill becomes larger than it was before you realized who else must leave your organization.

Sure, it is great to look for replacement people without telling anyone. This approach is both unrealistic and not advised. The power held today by text messaging, instant messaging, and social networking is greater than any individual ability to stay ahead of such communications. Do not try to overcome either of these powerful forms. I encourage you to execute the plan we covered last week.

Finally, be prepared to have healthy demands placed on your leadership that you did not expect to occur. The demands could come from either your people or people outside of your organization. Preparation for this likelihood is best accomplished by having a qualified executive leadership team ready to assist your leadership efforts. Remember, you may need to be more humble during this unexpected demand to help those needing your leadership to be sustained while you move to supply them the leadership you did not expect you would need to deliver.

Power Demand

OUTAGE

The loss of your leadership supply by demand for anything more than you can supply in terms of either quantity or quality results in a leadership power outage. An outage can be either intermittent or sustained. Your people during a leadership power outage are unable to work because they have no leader supplying them the power they need to do their work, all while doing it humbly through love. The means to overcome this outage is to add more power to your Love Action Items list. This outage condition could occur for several reasons. It is not a skills problem, as you acquire the skills you need before you need them to serve as a qualified leader…don’t you?

I am not saying a leadership power outage means you are bankrupt as a leader. Neither am I am saying your leadership is unequivocally a toxic debt held by your followers, your organization, or your investors. I am saying that those in demand of your leadership power are having to wait to take delivery of your leadership power supply. They may be able to work for a while in the absence of your leadership power supply, but they will not be productive for long without your leadership power supply to them. If they could last without your leadership power supply, then you are no longer needed in your leadership role.

I discussed the topic of leadership power with my strategic partner David Daniels. Dave shared judicious insight on the topic. “I have been in situations where over half of my leadership team needed to go. Now, I didn’t feel that it was prudent to let them all go at the same time, so I had to prioritize my decisions and approach. I rarely found that demotions worked, so I tried avoiding this tactic at all costs. However, I did find some people a fit for other positions if they shared my values and goals.” Dave went on to say, “I would insert strong external leaders who share my vision and values. I would not place them in any position right away, as I would want them going through a thorough onboarding process over a couple of months that would allow them access to every aspect of the business. The input that you would receive from this group will prove to be invaluable when assessing your final executive leadership team make-up.” Dave and I agree the executive leadership team is a crucial resource for any leader of an organization.

JUDGMENT

Sure, the best-case scenario is to have your leadership power supply in balance with the demand for follower leadership power consumption. We see this balance in just-in-time manufacturing, teaching, and learning. The Wall Street Journal reported recently the automotive industry has abandoned this half-century methodology due to present economic climate turbulence. However, this balancing is rare in the practice of leadership. It is best to plan for leading an organization that needs help to stay balanced due to unforeseen obstacles introduced to your organization.

The realization of fame and fortune by leadership occurs after doing the work of leadership, as do all forms of payment for accomplished work. The social and political power struggle present in many nations today not only impairs your ability to lead by adding more voices to consider, but it also makes your work much easier to accomplish. It is easier to accomplish because love delivered through humility during the practice of leadership encapsulates the three identified power attributes of supply, demand, and outage in a manner greater than any combination I know of to accomplish leadership. You now have greater clarity of your leadership work than in recent years due to this social and political power struggle.

The world is forming to a great struggle of one side versus the other for the acquisition of power for almost all aspects of humanity. Humanity has seen this before, and it will most likely see it again. This time it is a different struggle, as there is the presence of significant information technologies assisting each side. This struggle is not going to be an easy experience for anyone. Use the energy concept we covered a few weeks back to leverage the social and political struggle to your advantage. You have plenty of room in this landscape to realize success even though others around you may not be operating in either humility or love. If you are sold this combination is the best means for you to succeed, then now is the time to use them as the form of power you need to wield to realize success as a leader. Finally, since there is no reason to stop being humble or to stop loving people, this combination comprises the bulk of your leadership strategy henceforth.

I encourage you to spend time this week completing your materials summary, your Love Action Items list and schedule the first meeting with your boss based on the plan we covered last week. Also, spend some time thinking about how those both in and those working with your organization want to gain power over you as a leader. Finally, think about how you can defeat such attempts to overcome you by responding with love. Remember, there are four definitions for the term love. Use all of them as appropriate to lead with excellence.

Balancing Power Supply and Demand

So, I ask you: where do you want to go? I hope your answer is to develop the plans necessary to accomplish the strategy you know you need to achieve to arrive at your desired destination. If this is the case, then let’s get to work. If not, then I wish you the best of everything.

I hope we will see each other here next week. Email me if you need to talk before then.

COMMENTARY CATALOG

http://www.shdawson.com/commentary/

Dr. Stephen H. Dawson, DSL

Executive Strategy Consultant

Dr. Stephen H Dawson

Stephen Dawson is an executive consultant of technology and business strategy, serving significant international organizations by providing leadership consulting, strategic planning, and executive communications. He has more than thirty years of service and consulting experience in delivering successful international business development and program management outcomes in the US and SE Asia. His weekly column, “Where Do You Want To Go?,” appears on Thursdays.

Dr. Dawson has served in the technology, banking, and hospitality industries. He is a noted strategic planning visionary. His pursuit of music has been matched with his efforts to lead by service to followers. He holds the clear understanding a leader without followers is a person taking a long walk alone.

Stephen has lived his life in the eastern United States, visiting most of the United States and several countries. He is a graduate of the Regent University School of Business & Leadership. Contact him at service@shdawson.com.

Thank you for visiting our Blog!

Jim Weber – Managing Partner,  ITB Partners

Jim Weber – Managing Partner, ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

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One Must Have Options

There is an old Chinese curse, “May you live in interesting times.“  2020 was a difficult year, surreal even.  We were challenged in ways we never imagined.  Without a doubt, we have been living in interesting times.

Suffering life challenges can be difficult, notwithstanding your financial situation. Issues of life and death are a primary example. The burden of many challenges, however, is relative to one’s financial situation. One’s ability to easily navigate adversity depends upon how you have structured your life and prepared for predictable challenges. Click To Tweet  The more resources available, the better you can weather a surprise. You can mollify a crisis or avail yourself of opportunities.   Do you have enough physical and financial resources available if required?  It is good to have options.

This past week I was confronted with a non-life-threatening situation which is, nevertheless, a disruption.  I learned that my favorite ride, my Nissan 350 Z Roadster is kaput.    It is a sad situation as it is a well-maintained, clean machine.  The body is in excellent condition, with no dings or scratches, and new tires all around. I must admit, it was fun to drive, and it complemented my image.

The problem is the transmission. It requires repairs that cost more than the fair market value of the car. To be honest, this wasn’t a total surprise as it is a 2005 model, with 175,000 miles of drive time. Other components need to be replaced, as well, including a new AC compressor, and a motor for the retractable top.  I am happy that I deferred those repairs.   They would have been a total waste, throwing good money after bad.  Even so, I expected to enjoy the Z a few more years.  After all, as a two-car family, it was driven less than 11,000 miles per year.

If this had occurred earlier in my life it may have caused greater concern. Fortunately, I have flexibility and options.  Neither my wife nor I must commute to a job requiring each of us to have a car.  We are both entrepreneurs managing home-based businesses.  That fact alone moderates the temporary loss of one car.  Yes, we need transportation to meet with clients, vendors, and colleagues.  However, as we control our schedules, we can work around that issue.  We do not have children at home, especially teenagers who need transportation.  If so, I would be a bit more stressed.  Today, we have additional options such as Uber and Lyft.  I can even contract a short-term car rental.  Clearly, I have options to cope with the situation.

The loss of my Z is a minor inconvenience.  We have a lifestyle that reduces our dependence on automobiles, and the resources to recover.   It can be instructive, however, for businesses and families especially with the Covid-19 pandemic fresh in our minds.  We have heard about companies hammered by the lock-down because their business models could not adapt.  Conversely, other businesses were perfectly situated to thrive in the lock-down.  Still, others adapted with minor adjustments.  Understand, the pandemic and related mitigating factors were not a complete surprise.  Prominent people had predicted that a pandemic was an imminent threat.  Even so, I have not heard of a single company that took the warning seriously enough to develop contingency plans.

As you have deduced by now, this post is not about the loss of my Z.  It is about the way we organize our personal and professional lives to cope with risk.  Life’s challenges are unavoidable and come at you fast.  Fortunately, most are predictable.  Given recent experience, you may want to perform a risk assessment.  Maybe even segregate risks by time frame, i.e., one to three years, three to five years, and over five years.  Then, determine the actions required to minimize those risks and their associated costs.  With that information, you can determine the funds to set aside.  If the risk is insurable, you will know how much insurance to buy.  At the end of this process, you will have the framework of a disaster recovery plan.

It is good to have options!  I will miss my Z.  Life goes on.

Thank you for visiting our Blog!

Jim Weber – Managing Partner,  ITB Partners

Jim Weber – Managing Partner, ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

 

 

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Can I Afford NOT to Research? The Tale of Art and Bart

Art and Bart were college buddies at the University of Georgia (Go Dawgs!). They both graduated from the school of Landscape Architecture and went on to work at various companies to gain experience and knowledge. In 2014, they each embarked on opening their own Landscaping business, Art on the Northside of Atlanta and Bart on the Southside of Atlanta. Each started slowly, but by the end of 2018, through hard work and talent, they had each established very successful businesses with the following financials at the end of 2018:

 

  ART’S LANDSCAPING BART’S LANDSCAPING
Revenue 2018 $4,800,000 $4,800,000
Number of customers 2018 500 500
Revenue per customer /month $800 $800
net adds / churn per month* 0.5% 0.5%

At the beginning of 2019, a large landscaping company, Grass R Us, established 4 new franchises in the Atlanta area with a heavy advertising campaign and an initial price offering 10% lower than Art and Bart. This resulted in a change of net adds/churn to -2.75% per month. Through the end of June, Art and Bart had each lost about 75 customers and over $60,000.

Art felt confident that he knew his business and knew the market. He had anecdotal information from some of his crew that the lower prices offered by Grass R Us was the issue. So, as of July 1, Art lowered his prices across the board by 10%. This did have an immediate effect of decreasing net adds/churn to -1.5% per month. The overall result for Art’s business at the end of the year was a loss of about 114 customers and over $90,000. He wasn’t happy about the outcome, but by swiftly lowering his prices, Art believed he had averted a much larger hit on his business.

On the other side of town, Bart was faced with the same issue. But Bart remembered another old friend from UGA, Suzanne, who was in the Master of Marketing Research (MMR) Program. Suzanne was now working for a small research agency in Atlanta. Bart called Suzanne and asked her if she could help him with his problem. Suzanne designed a marketing research study for Bart to identify the core issues causing his customers to move to Grass R Us. Although the cost of the research was $30,000 and would take 6 weeks to complete, Bart felt that having good information would help him make a better decision.

The research was executed by Suzanne’s company, and the results indicated that the most important issue was NOT cost. Bart’s customers were satisfied with Bart’s service and pricing but were drawn to Grass R Us by fancy marketing and a highly promoted 100% guarantee. Bart decided, that, unlike his friend Art, he would not lower prices, but started to promote his own written 100% guarantee in September.  Not only did the loss of customers stop, but net adds soared to +4.0% per month! By the end of the year, Bart had lost only about 32 customers and just over $25,000. Including the cost of the marketing research, Bart lost about $15,000 less than his buddy Art!

Projecting out to the next year, if everything remains equal, Art will continue to lose customers at a rate of about 5 per month and will lose an additional $50,000+. Bart, on the other hand, will gain about 20 customers per month and increase revenues over the year by over $200,000!

Although this is a hypothetical example, we are left with two important lessons. First, the cost of doing marketing research is justified by the savings in cost or increases in revenue experienced through better, data-based decisions.  And second, whenever possible, hire a graduate of the UGA MMR program to lead your marketing research!

Carl Fusco

Carl Fusco is an accomplished Marketing Research Consultant who helps businesses more effectively solve problems by applying research techniques and data-based insights.  For more information, email him at carl_fusco@yahoo.com or call him at 770-364-7160.

 

 

Thank you for visiting our Blog!

Jim Weber – Managing Partner,  ITB Partners

Jim Weber – Managing Partner, ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.