An important lesson I have learned from past experience with launching new businesses is, that before you go all out and invest lots of time and effort into the development of a business concept, to first run a pilot and test it at it’s most basic scale. I still have trouble doing this because I want that whatever I put out there, to be as good as it can according to ‘my’ standards. After having burnt my fingers a few times, I have realized that surprisingly, most people do not really care for ‘my’ standards, and most of the time we have to adjust strategy according to the customer’s needs is what is required.

If you are starting a new business or company, make sure to scale your service down to it’s absolute core. What is the core value proposition for your target segment? If it is convenience, in the form of  software, then develop the functions that provide the value they expect. There is something really special when you bring your product/service to your customer for the first time and they start providing feedback. One needs to be able to handle this, in whatever shape or form it is given to you. When they tell you that you service is truly amazing, ask them “What can I do to make it better?”  When they tell you that your product does not provide the level of the value they expected, ask them “What can I integrate to help you achieve that level?” One needs to remain flexible enough to adapt to the customer’s needs and requirements.

As entrepreneurs we often have a great level of self confidence in our abilities, this is what separates us from the rest. We truly believe that we can do things that will make the world a better place, and in the process, benefit ourselves as well. However, we should not let that level of self confidence become a crutch. We start businesses for the benefit of a certain target segment. As far as we are concerned their feedback and experience must transcend all other opinions. Don’t wait until your product/service has all the features you think your target market needs. Release early and regularly, keep updating your service to make it into something that both you and your customer can be proud of.

I am sure most entrepreneurs who have been in the business for a while have had to go through this ordeal at some time or other. The first time is always the hardest to get over. It just hurts in so many ways. As a startup we are dependent on a limited number of revenue generators initially. When we lose one of these primary contributors early on in our development cycle, the loss paralyzes the team. Morale drops, gloomy clouds begin to hover over everything and serious thoughts about whether we are going to make it begin to surface. I remember the first time we lost a major client in my initial business venture. A lot younger, and without the experience I have today, I did not take it very well. To the extent that I remember ending the relationship with the client on a bad note. Not the smartest of ideas. However, one tends to say a lot of things in the heat of the moment that we do not actually mean. In the world of business those words are never forgotten and chances of ever re-opening that account are slim at best.

Today however I have a very different approach when we do lose a customer. Now, when we lose a client I organize a debriefing session which covers:

1. Asking for Feedback: When a client discontinues their business with us we always send them a standard feedback form asking them the reasons for discontinuing the relationship. It is a comprehensive form that covers pertinent questions and asks them to benchmark us on several scales.

2. Objective Re-Evaluation: Revise the primary objectives that were outlined as performance indicators or benchmarks. These are what the client was measuring you with. Break down each objective and analyze whether they were specific, measurable, attainable and realistic. Then  go into each objective and measure what the client feedback was and where you over promised or under delivered.

3. Execution Challenges: Next, analyze in great detail where you experienced the greatest challenges in executing your strategies. Break down each execution error to its root cause and develop strategies to deal with them in future. Be very specific in this and identify exactly where the problem originated. Was it miscommunication or a lack of discipline from the sales team?

4. Lessons Learned: What did the business as a whole learn from managing this account. Were there areas in the feedback form where the client praised certain aspects of your business processes? What were they? Can these be transferred to other accounts to improve their experiences? What were the root causes of the break down? What can be learnt from these break downs? Spend time understanding this loss from a holistic point of view and make sure it is covered from all angles.

5. Motivation: Losing a client or a big account can be devastating for a startup or small business. It is a rude wake up call for any business. In such a scenario it is essential for the senior management to provide their employees and partners with moral support to help them through these trying times. This is one of those times when the leader needs to step up and infuse his/her passion and belief into the rest of the business. If one does not do this, the business could find itself on a slippery slope which only leads downwards.

Losing a key client can sometimes be the wake up call that a business needs when it becomes complacent and takes the client for granted. In today’s world with an ever increasing level of competition, a small business or startup needs to do whatever it can to support its key clients. Having open channels for feedback, providing excellent customer service and most importantly, understanding your customer and their needs is essential. The minute we take them for granted we open the door for our competitors to step in.

What did you do when you lost a key client? What were the strategies that you employed to make sure it did not happen again? How did you motivate your staff and partners?

I would greatly appreciate it if you share your stories and experiences.

What rating would you give yourself on personal productivity? Do you have a systematic plan for improving your effectiveness in your daily work? Superachieving business people and athletes know what it takes to motivate themselves, maintain focus in the face of obstacles and drive forward to the completion of their vision and dreams. They take charge of their work by being aware of their personal patterns of behavior and by then adjusting and experimenting with new ways of being.

Imagine if you could quickly recover from fatigue, mental setbacks, surprise problems, overloaded task lists, not enough time and all else that can stand in your way from working near optimum levels. Top achievers begin the process by carefully noting what is and what is not in their control. They then ONLY focus on those things over which they have control and let go of those things which are out of their control. If you list all the things you must do in a day and all the roadblocks that might fall in your way, you will quickly realize that the only thing you have true control over is…yourself.

So to improve productivity and effectiveness, begin by focusing on yourself. Focus on your attitude, your thoughts, how you feel, how you react to problems, how you prepare to succeed, how you review your performance and how you set and go after realizing your goals. Let’s look at the superachiever’s tips for improving personal effectiveness.

1. Review your major values and life goals daily. Use this as a springboard for heightening motivation and for building focus that can carry you through your day.

2. Plan your work and then work your plan. This is an old bromide, but it contains simple wisdom. You have to know where you want to go before you get there. Be clear about what you want to accomplish the night before or in the morning and then execute your plan.

3. Remember, “Mile by mile it’s a trial, but inch by inch, it’s a cinch”. If you look at everything you must do it can seem overwhelming, but if you break down each project into tasks and objectives and just focus on these bite-size portions, you will be amazed at how quickly the little things combine to complete major tasks. Take care of the little things and the big things will take care of themselves.

4. Ask yourself, “A month or a year from now, will this matter?” If you get mired in trivia, get distracted by surprises or get sidetracked by things that “feel good to complete, but that are “off-task”, then ask if what you are doing now will have any impact on your future goals. This will keep you focused on what is truly important.

5. Set deadlines and make timetables for executing each objective that takes you closer to your goal. It is amazing how a future due date drives current behavior. Keeping records of tasks completed gives you proof that you are making progress. Having a deadline creates some urgency to complete the task.

6. Post and consult your priority list multiple times every day. This will keep you on track through those crazy, unpredictable days. It is SO easy to lose site of what is important and to begin putting out fires when you should remain focused.

7. Review your day and ask yourself “What were the top 3 things I accomplished today?”. This makes you accountable to yourself and helps you measure how well you stayed focused on your priorities. It will also help you set-up the next day.

8. Clean up the tasks and projects that annoy and frustrate you the most. This might be office clutter, not being able to find things, paper piles and messes, a sloppy hard-drive on your computer or anything else that bothers you every time you look at it or think about it. Conquer it and free your energy.

9. Celebrate your successes. We go through our days and weeks barely congratulating ourselves for our good deeds and accomplishments. We tend to only focus on what we lack or on what we still have yet to complete. Give yourself credit for jobs well-done and for wading through the many tasks you finish each day.

10. Continually reset new goals once you reach each goal. This is one of the true secrets of the superachievers. They continually readjust strategically as each goal is met. They endlessly create new goals to fuel the fires of motivation and to take themselves closer to their potential.

Maintain self awareness, make adjustments and execute like top business and sports performers and you also can become a superachiever at personal effectiveness.

Circle #1

The first circle asks you the question: what are you good at? There comes a point in our lives where most of us know what we are good at and what we are not good at. I have the ability to break down complicated matters into much simpler language either through visuals or words. I am also able to handle multiple tasks at the same time without losing focus. On the other hand, I am not very good at the operational side of running a business. Detail oriented work such as tabulating accounts is something I do not handle very well. It is important that we be completely honest with ourselves in this circle and identify those capabilities of ours that we excel at.

Circle #2

The second circle asks you a much more challenging question. To answer this question one must identify times when doing something is almost effortless. When time loses meaning and you could go on forever. Was it when you were playing an instrument, teaching a child, painting, leading a group or cooking? There has to be this aura of complete ease and enjoyment in the doing of that particular activity and the awareness that in that moment everything is just how it is meant to be. Looking back in my case, this occurs when I am leading a team or a group. Whether it be one person or more I always find myself performing not just optimally but thoroughly enjoying it as well.

Circle #3

The last circle asks you a very pertinent question. Usually most of the things we really enjoy doing such as surfing the web, twittering, reading or listening to music are things most of us will not get paid to do. So we have to be realistic with ourselves here and identify the skill sets we can get paid for. For instance if you are good at reading and writing and find that when you write, time seems to stand still and you could go on writing forever, this is obviously something you are passionate about. You then have to figure out a way to monetize your writing, to earn a living. Things you could do include, copy writing, journalism, writing reviews or things along those lines to find ways to get people to pay you for your inherent skill sets.

When you merge all the three circles together you get this:

The purple section at the intersection of the three circles is where one needs to continue moving towards. If we leave out any one of the circles from this equation, a major component will be missing from our lives. We could then end up doing something we are good at and which makes us a lot of money, but do not get any satisfaction from. We could also just go along doing something, never aiming to excel at it because we lack the needed passion and drive. Therefore it is important that we keep all three circles in perspective when choosing what we really want to do in life. When we are able to find that sweet spot in the middle, life becomes more fulfilling and meaningful and every day is a new day to look forward to. I am still figuring out all the three circles, and coming close. The closer I get, the more I can feel my life becoming energized in each and every way.

I would really like to hear from readers about their experiences so far. Have you managed to reach that sweet spot? If you have, what were some of the challenges that you faced along the way. If you have not found that sweet spot what are some of the challenges you are currently facing? I look forward to your comments and thoughts.