A sample text widget
Etiam pulvinar consectetur dolor sed malesuada. Ut convallis
euismod dolor nec pretium. Nunc ut tristique massa.
Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan.
Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem,
suscipit in posuere in, interdum non magna.
|
You have managed to survive the visiting relatives, endless parties, and office “sugar buffets” without losing your temper or gaining to much weight. Now is the time to focus
 Alter your business practices strategically on 2014 in your personal life and business. Pressure from society instructs us to set goals, create resolutions, and change behavior simply because of a change in a year digit. This philosophy is doomed to fail. Look back over the last 10 years and ask yourself how many “New Year” changes did you incorporate into your daily behavior. Not many is my guess.
Is change necessary?
Why make changes at all? This question masks the reason for any change initiative – perceived benefit. If a shift in behavior, practice, or process doesn’t result in quantifiable results, the alteration will not stick. Many small business owners attempt to reorganize their resources because of a pain response. Examples include cost cutting, hiring or firing employees, product changes, and targeting new markets. At face value, these are all solid ways of making changes to the fabric of their business. The problem is the decision-making process within the business model.
Process versus result
Basing success on the assumption that any long-term change to the business has to demonstrate a measurable benefit helps to limit the scope of potential changes. The first step in the process is to define all potential areas of concern and outline a prioritized list of changes with respective benefit. From that list specific projects can be developed with set parameters, defined participants, and expected outcome(s). Sounds great, doesn’t it? Unfortunately this process is as hard to implement as New Year resolutions, because benefits, typically, are not clearly communicated and results are partially measured, or not at all.
Fixing the problem
The solution lies in building a process for change that acts as a continuous framework to build on rather than attempting to make alterations to the business as a “one-off”. This method will sustain communication, lead to collaborative goals and expectations, and create the necessary value to make changes permanent. To start, the process should be a simple template that answers the following questions:
- Why the change is necessary?
- Who is affected and who needs to participate?
- What will it cost and how will it be implemented?
- Where is the benefit and how will it be communicated?
- When can it be completed and how will success be measured?
Once completed, create one small project and see how the process works. Make necessary adjustments and roll it out.
Breaking it down for use
Okay, you agree with the idea of the process and can answer the questions if cornered; but the real question is, how do I start? Begin by stimulating value in yourself and your business. Assess your areas of weakness and decide if any possible change would help. List them in order of priority and focus on one fundamental area.
For example, there is an issue with collecting receivables. What would the benefit(s) be of a better collection process? Decide on potential options to fix. These could include outsourcing, rolling out policies, creating new payment methods, restructuring debt, or building customized communication. Measurement of success may include change in revenue, change in customer satisfaction, increase in short-term cash, decrease in processing costs, etc. The goal is to create a problem/solution relationship that is quantified and sustainable.
If you need help or have questions regarding building templates and optimizing your business structure, contact us for an appointment.
January is traditionally a time of reflection, cleaning out the old to make way for the new, and  evaluation of personal environment. Many of us attempt to define personal goals, set agendas, and reach for the stars. The problem lies in creation of realistic habits and not failed attempts. By nature, humans use trial and error to learn about themselves, life, and impact of their environment. Each of us is a collection of individual experience, thoughts, ideas, and beliefs. This makes us individual and special. Any personal changes should keep that in mind.
Rule 1: Be on time
If nothing else in the coming year, change the way you handle time. In business punctuality is a simple rule to follow and builds intangible value by creating credibility, trust, professionalism, and accountability. Don’t be defined by “5 minutes late,” rather focus on preparation, execution, and opportunity. Easy to talk about but difficult to enact or else it wouldn’t be the first rule to follow. The key to punctuality is awareness of time and understanding how to maximize benefit through strategic planning. Start with a review of the coming week and establish a realistic “time cushion” to make sure appointments, tasks, and projects are completed on time. If you are unable to do this, reduce the number of events and focus energy on a smaller list. Remember creating a habit of punctuality doesn’t happen overnight and will take time, planning, and thought.
Rule 2: Create an agenda
Attempting to manage time has created an endless ocean of books, practices, methods, training, software, and specialists attempting to force feed individuals and organizations with their version of a secret sauce for success. In my mind, it simply comes down to expectation. Knowing what you want for a given amount of time will stimulate the necessary thought for preparation, execution, and evaluation leading to the second rule. Create an agenda by starting with three items/tasks/goals for everything you do. No software, forms, or books are necessary. Simply write down or dictate to yourself three things to accomplish. Simple, direct, and measurable. When you achieve your objectives success is guaranteed. The process will become part of your core competencies. Start with appointments, projects, or tasks that will occur in the next seven days and detail measurable agenda items for each. If the task seems too daunting, simplify and focus on a smaller list to begin the process.
Rule 3: Stimulate value
Building a relationship between objectives and results comes from understanding value. The first step is identifying personal value and defining ways of building value in others. This leads to the third rule: stimulate value in yourself and others. Value creation starts with introspection and validation of self. In business this means knowing your value proposition, creation of a monetary unit (how much is your time worth), development of core competencies, and managing communication methods. The next step is application of key value concepts to relationships finding points of commonality. Become a great listener and interact with others on their terms. Once common ground is reached value management can begin and set the foundation for human capital development.
Applying these Rules
It is great to read about punctuality, agendas, and value management but what is the best way to accomplish them without too much disruption and still have realistic opportunity for success? The answer is to start small. Concentrate on the next seven days and develop the techniques and strategies mentioned above. Start today by listing three objectives for an appointment, event, or task tomorrow. Write out your value proposition and calculate your monetary worth. Get in touch with three of your closest business contacts and find out three things you didn’t know about them before. Write them down and compare them with your value creation. This will lead to the first areas of commonality.
Return to Top...
|
|
