Posts tagged "Change"

Advice Customer Service Sales Strategy

Are customers testing your patience?

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“You can’t just ask customers what they want then try to give that to them. By the time you get it built, they’ll want something new.” Steve Jobs

Prospects and customers have an uncanny ability of getting under your skin, often driving you close to the verge of insanity. It all begins when you begin to identify potential prospects for your target segment. Those first couple of cold calls, emails and introductions set the wheels of the sales cycle into motion. Then it begins, the non responses, the transferring of your calls all over the company, being on hold for ages and even some rude responses. At this level you need to be somewhat thick skinned, you should then not have a problem getting through this stage with a list of higher probability prospects. It is during the next couple of stages when you have initial meetings, send proposals and quotations that your patience really begins to get tested. This stage differentiates the sales people who succeed, and those who just get by.

Over the last couple of years some tips that helped me during this period are:

1. Prospect Selection: In today’s market place, no one really cares for the generalist anymore. It is slowly becoming a market where niche specialists have a marked competitive advantage. I would therefore suggest you tailor your sales strategy to focus on a particular market segment and cover it extensively. If your prospect list selection covers any and everybody the number of mild leads will drive you insane. Be selective and choose your segment wisely. Next build a prospect list specific to that segment and start to make inroads.

2. CRM Software: If you are not using one for your sales development and pipeline monitoring, I would strongly suggest you look into one for your organization. If you haven’t used CRM software before, start by using simple systems such as the ones available at 37signals.com. These help tremendously in making correspondence with prospects structured, efficient and professional. It also allows you to get a dashboard view of what is moving in your pipeline and what is not.

3. Disqualification: Customers who are not interested or ready for your product/service at the present moment should be disqualified from your list. These are clients who gather information from you, and then become dormant. I suggest you develop certain time quotas, after which, if the prospect does not respond they should be disqualified from your qualification process. If this step is not done it will drain a lot of your time without necessary results. 

4. Contracts: Once you have signed up a customer for your product/service, make sure you sign comprehensive contracts with them, these must cover exactly what you will be delivering to them. Failure to do this will result in some customers asking for more than promised and you will find yourself in a difficult position. There are few things more irritating than a customer who continues to ask for changes, reviews and modifications during the delivery process. 

I don’t completely agree with the statement that “the customer is always right”. There are some situations when you will have to draw the line. Difficult customers end up costing the organization a great deal. They increase the level of frustration within the team and decrease morale. Constantly review your prospect and customer list, I use a rating system in some of the companies I work with. This lets the entire team know which customers get priority over others. Focus your energy on those leads and customers where you have the greatest ability to cross sell and develop deep relationships with.

Marketing Strategy

A Marketing Secret

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“Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish.” John Quincy Adams

The secret to getting the most out of your marketing plan is to remain patient. It is not as easy as it sounds however, and I have broken this rule many a time in the past. This lack of patience is due largely to the fact that most startup organizations have fairly loosely defined marketing plans. If you allocate $X per year on “marketing” activities, the chances of earning substantial returns on your investment is wishful thinking. Therefore, before beginning any marketing activity please map out your marketing plan in detail and allocate appropriate funds and metrics to the plan. Having a marketing plan is one thing, sticking to what you have charted out is a completely different ball game. 

I would like to clarify a couple of false notions that people have about marketing,

1. Instant Results: One should not expect a TV ad campaign which was screened over the weekend to help achieve quarterly target sales. Marketing is not a magic pill, which will the generate the results you want instantly. It takes time, effort and most importantly consistency to get the results that one is looking for.

2. Marketing is a Cost: I like to treat marketing as an investment, made into your organization. If one treats marketing as a cost, unfortunately it becomes one of the first things to get cut during tough times. Like any investment made in technology, infrastructure or talent, marketing must be treated similarly, to get maximum return on investment.

3. Marketing is not Advertising: I get this one a lot during discussions. A core fact is, advertising is just one tactic which can be used in a total marketing mix. Restricting your perception of marketing solely and totally to advertising will not get the required results .

The secret behind companies who are able to market themselves successfully is patience. Once they formulate a strategy, they remain committed to carrying it out to the end. Do your best to remain consistent in the messages that you send out, ensure you send them out regularly. Once the messages are out there, be patient, results will follow!

Advice Strategy

Strategy + Patience = Success

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“There is no royal road to anything, one thing at a time, all things in succession. That which grows fast, withers as rapidly. That which grows slowly, endures.” Josiah Gilbert Holland  

Instant sales, results and profitability seem to be the mantra of today’s marketplace. It seems to be so deeply ingrained into our subconscious, that to think otherwise is blasphemy. However, in this mind blistering tizzy we seem to be losing an important component of the success formula, patience. The sad reality of business is, that instant results are often short lived without adequate planning and strategy. Sure, everyone would like to accelerate the speed of achieving targets. However, we have to keep in check what is on the line for this short term acceleration. Very often we forget to look at the bigger picture, lose patience and ultimately throw in the towel if we do not see the result we want. Is this an optimal strategy? I think not. 

From the onset you have to realize, that the startup route requires long term outlook. Looking for great short terms gains usually results in disappointment and disillusionment. For a long term perspective, we need to develop a strategy accordingly. Many a time during your journey, things will not go as planned. If you fail to adjust your strategy accordingly, growing impatient with the lack of momentum is inevitable. This is a situation that needs to be avoided at all costs, as it can bring your startup to a very abrupt end. 

There are a couple of pointers that help me through tough times when my patience is being severely tested:

1. Take a break: If your startup has been through a couple of challenging quarters, I suggest you take a short break from the routine. A break could be a short holiday, catching up with friends, taking a course or doing some community work. This helps to clear the mind, and see things from a different perspective. It is like hitting the reset button when the base memory is full and slowing everything down.

2. Adjust strategy: This is something I have done repeatedly in some of my past ventures. It requires looking at your current strategy statement, and comparing it with feedback that you have received. Is the market asking for something else? Are we selling to the wrong market segment? Is our market positioning correct? What are our successful competitors doing differently? Take a comprehensive snapshot of where you are and where you want to be. Is there a disconnect somewhere? If you find a gap, adjust your strategy to make sure you fill it.

3. Accepting change: Lets face it, if you have spent the last year building an organization which has not gathered the momentum you expected, changing your strategy is going to be a challenge. Talk things over with your team, investors and mentors. Make sure everyone on the team buys into a new direction. You may lose key people at this juncture, this is unfortunate, but something you must take in your stride and remain focused on the end goal.

4. Analyze yourself: It is during tough times that the true character of individuals is revealed. Take this opportunity to see and gauge how you manage your actions and emotions at this time. Are you more vocal? Do you participate less in discussions? How does your mood affect the rest of the team? In the end you can only take responsibility for your attitude. Make sure that it is not negatively affecting everyone around you.

5. Asking for feedback: Get feedback from your clients, distributors, suppliers, mentors, investors, friends and family. Receiving feedback from a diverse group of individuals will help you see the forest for the trees. I find this process rejuvenating as I get affirmation for what I am doing, it also helps me look at situations from different angles. 

Instant success for entrepreneurial startups are rare anomalies. If you plan to embark on this journey make sure you realize that it is for the long haul. It will require you to remain committed to your strategy, and constantly keep adapting it to what the market wants. As an entrepreneur you can never find yourself standing still, if you do, losing your patience will be inevitable.

Advice Teams

5 Ways To Be a Better Team Member

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“In the end, all business operations can be reduced to three words: people, product and profits. Unless you’ve got a good team, you can’t do much with the other two.” Lee Iacocca

“Are you giving your best to the team you are working with?” All of us, who are part of any team, must ask ourselves this question periodically. It forces us to look at the larger picture, and how our actions affect it, for better or for worse. This is vital for our own personal development as well as the team’s progress. Having worked with many teams, I know first hand how easy it is to play the blame game. Team member X is not giving enough time, member Y is not bringing the value he/she is supposed to, a myriad of such thoughts constantly float in your head. We need to make a fundamental shift in our thinking, and focus on giving 100% to the team. We cannot compromise our commitment because other individuals on the team are not pulling their weight. What we can do, is become more proactive in helping other members of the team grow, as well as ourselves.

Listed below are five ways to become a better team member and help the rest of your team follow suit as well.

1. Playing to your Strengths: Understanding and playing to your strengths is a process that takes time. It is important that we start this process as early as possible. There is  much trial and error involved in this discovery process. Often, we realize our choice is not showcasing our true potential. No problem! Use the experience as feedback and move forward. To learn more about playing to your strengths please click here.

2. Being Action Oriented: Team members, customers, suppliers and investors look for people who can deliver what they commit to. This trait is common in successful people, they do not over think things, they, just do it. The concept of “Ready, Fire, Aim” is one I believe in, it has has served me well over the last couple of years. It certainly accelerates the learning process, helps you add tangible value to business, and gets you the reputation of being the guy who gets things done. To read more about becoming action oriented please click here.

3. Giving and Asking for Feedback: The art of successfully giving feedback comes with experience and time. By providing feedback you add value to the team and all of its members. There will be times when feedback will be uncomfortable and these are situations you need to learn to manage. Suffering in silence is not a smart strategy, it is one where both the team and individual lose out. To learn more about giving and asking for feedback in an effective manner please click here.

4. Being Sensitive: Being sensitive is commonly associated with weakness and insecurity in business. I do not believe this, I believe, this is an essential personal characteristic, specially one that entrepreneurs must possess. Being sensitive to the feelings of others, situations and circumstances allows you to focus on larger issues in a more comprehensive manner. Highly effective team members understand the need for sensitivity when dealing with issues which impact the entire team. To learn more about sensitivity in team dynamics please click here.

5. Paying the Price: Every team member has to pay a price when he/she becomes part of a larger entity. For a team to work effectively together, they need to reach a stage where there is price equilibrium. This creates a situation where everyone on the team has similar vested interests and are fully committed to its success. The price of being a team member consists of many elements, two of the most prominent ones are, time and sacrifices. It is critical that all team members find a balance to maintain stability within the team. To learn more about the price of being a team member please click here.

Being the best team member that you can be, is each team member’s responsibility. We have to continuously focus our energies on bringing increasing value to our organization. This may, sometimes be at the cost of your own personal goals, time and other opportunities. When you make a commitment to be part of a venture, remember, to identify the price of entering into the agreement beforehand. This is something to keep in mind when embarking on any entrepreneurial journey. Usually the price for entry is steep, by the same token, so are the rewards. Success is the result of consistent action towards identified goals. The better you perform as a team, the faster you can reach those goals.

Advice Teams

Paying the Price

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“There’s a difference between interest and commitment. When you’re interested in doing something, you do it only when circumstance permit. When you’re committed to something, you accept no excuses, only results.” Anonymous

Every team member has to pay a price when he/she becomes part of a larger entity. For a team to work effectively together, they need to reach a stage where there is price equilibrium. This creates a situation where everyone on the team has similar vested interests and are fully committed to its success. Reaching such a level is a difficult process, because “price” is relative. If a team consists of 2 junior partners along with 2 senior partners should each member be paying the same price? If a team consists of 3 partners out of which 2 have sacrificed their social life should the third follow suit? I have debated this topic with a lot of people and am always surprised when I hear unique responses to some of the questions asked above.

At the end of most discussions however, there is a consensus that “price equilibrium” needs to exist in every team, it just varies according to the circumstances. Two key aspects of the price one needs to pay, to be part of a team are:

1. Time: Time is a vital and required input into an organization, majors rifts are caused in the team if this is not done seriously. Team members need to dedicate the time they have committed to. For example, if you have a partner who is assisting you while keeping his day job, it is his/her responsibility to be contribute to the team during nights and weekends. When one of the team runs multiple businesses, it is essential to demarcate time commitments according to your level of involvement. Without contributing time an individual is causing a disequilibrium and it usually has nasty consequences.

2. Sacrifices: When you embark on an entrepreneurial venture, get ready to make serious sacrifices. Building a business is not an easy task, it requires all members of the teams to sacrifice their own personal goals for team goals. Many find this difficult to do, some have lifestyles which they want to maintain and others may not be ready to give up personal goals. The fact of the matter is, if you are not ready to sacrifice your time, money and opportunities, do not join a startup. If you are part of the team and you are not sacrificing, in comparison to other members, it is time to step up.

In order to become a valued and key member of your team, it is essential that you are willing to pay the price required. If you find the price too steep, let all your team members know. It becomes challenging to keep paying out and not receiving anything in return during the early stages of your organization. Therefore it is critical to find out more about the team you want to join, before, you sign up. Find out what sort of price you are going to have to pay and whether you are going to be willing to do so. Doing this will make both your life and those of the other team members a lot simpler.

Advice Teams

Being Sensitive

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“It is… axiomatic that we should all think of ourselves as being more sensitive than other people because, when we are insensitive in our dealings with others, we cannot be aware of it at the time: conscious insensitivity is a self-contradiction.” W. H. Auden

The topic of discussion today is not a subject you usually find on business blogs. Being sensitive is commonly associated with weakness and insecurity in business. I do not believe this however, I believe this is an essential personal characteristic, specially one that entrepreneurs must possess. Understanding this, is the result of interactions with my mentors, who have constantly impressed upon me the importance of being sensitive to your team members, customers and suppliers. I have seen and experienced this in my own interactions of working with several teams over the last couple of years. Being sensitive to the feelings of others, situations and circumstances allows you to focus on larger issues in a more comprehensive manner.

Being a team member will inevitably result in times when the situation requires compromise and taking action in ways you may not always be comfortable with. Reactions to such situations can often be the ‘make or break’ factor for some teams. The key factor in all of this, boils down to balance. Being either overly sensitive or insensitive, bring their own share of difficulties. Maintaining a balance between both extremes requires discipline, an open mind and flexibility. I have worked with several people who have had trouble maintaining this composure, it has invariably led to difficult situations. 

Highly effective team members understand the need for sensitivity when dealing with issues which impact the entire team. Some areas requiring sensitivity are:

1. Dealing with conflict: The manner of handling conflict is a telling sign of whether balance can be maintained between extremes. For example, an individual is in a conflict with another team mate for not contributing adequately to the team. If you were the person who brought up this issue with your team member, your tone, rationale and way of handling this issue is critical.

2. Dealing with change: Whenever an organization undergoes a structural change process, substantial friction is created. This could be when individuals are required to move out of their comfort zone. As an effective team member, it is our responsibility to ensure that everyone on the team is given enough support during this transitional period. Focusing selfishly on yourself or how this change process will impact you alone, is not a winning attitude.

3. Dealing with loss: Every organization has its share of ups and downs. It is during down periods that a team is required to come together and figure out how to fix the situation. I have learnt, dealing with organizational loss tends to bring out the ugly side of people. The fact is, no one likes to lose, but it is a part of life. The success of a team comes down to, how we react to such situations and whether we are able to handle it well collectively as a team.

I agree entirely that some people are more sensitive than others. It is important however, that everyone on the team does their best in dealing with difficult situations and individuals, with an open mind. This attitude will not only help create stronger bonds between all team members, it will also make you stronger as a person. The next time you find yourself in a difficult situation, do your best to understand where the other person is coming from as well. Always remember to treat others in the same manner you would like to be treated yourself.

Advice Change Inspiration

5 Steps to Change a Habit

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“When you sow a thought you reap an action, when you sow an action you reap a habit, when you sow a habit you reap a character and when you sow a character you reap a destiny.” Anonymous

Embracing change poses a challenge to most of us. Our comfort zones have the ability to make us feel just that, comfortable and at peace. Stepping out of these zones is a frightening experience, at the best of times.  Venturing into spaces where you need to find your bearings all over again is daunting . The task is arduous at the onset, it doesn’t get much easier along the way either, however, when you have successfully enlarged that comfort zone, the feeling of accomplishment is unparalleled. This week, I talked about a couple of steps which can be used when wanting to change or develop a new habit. I felt it was important to talk about this, because being an entrepreneur requires you to be flexible and open to change. It requires you to change limiting habits and beliefs, which may be pulling you back. Listed below are five steps which may be of help in this process:

1. Identification: Before we commit ourselves to “change”, we need to make sure our unconscious desires connect with the conscious ones. Clarity about what you want to change is essential. Asking yourself what you want to change about yourself is a powerful question, use it to crystalize your thoughts. To read more about identification of limiting habits/beliefs please click here.

2. Ask yourself why: Once you have identified the change you want in your life, the next question is, why do you want to change? This discovery process is essential, to grasp the fundamental reasoning behind the change you want to see in your life. Without this process of understanding , you may discover that you approached change in a particular habit, for the wrong reasons. You may discover that you never really wanted to change this particular habit, hence, you had not found a strong enough reason to motivate the change. To read more about asking yourself “why” please click here.

3. Make a plan: To successfully start a transformation process, you need to outline a plan. One which will be documented, and have clearly marked time lines. It is important you take into account any triggers which may lead to lapsing back to old habits.  To read more about making successful plans for changing  habits please click here.

4. Taking action: We can plan all we want, in the end, it all boils down to taking action. This step requires courage, determination, and above all, belief in your capabilities to bring about change. Life is too short to expect those around us to change, or, to stand still and hope that things will become better. The first step towards wanting to bring in change, is to take responsibility for your life. It boils down to you, and how committed you are, to wanting change in your life. To read more about taking action please click here.

5. Maintaining change: Once we have taken that first step towards bringing change into our life, we have begun a journey. To help us maintain the change that we have brought into our lives some of the things which can help us are, keeping a daily log, developing a support system and rewarding ourselves whenever we reach small milestones. These activities will help keep you motivated when the going gets tough. To read more about maintaining change please click here.

Time is the most precious asset we possess. Everyday is an opportunity for you to bring about the change that  you want to see, in your life. In the end, it boils down to your level of determination and persistence to be the change you want to see. I love the Adidas quote “impossible is nothing”. Maybe that could be a mantra for your next habit change? Best of luck!

Advice Change Inspiration

Maintaining Change

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“We are what we repeatedly do. Excellence then, is not an act, but a habit.” Aristotle

Once we have taken that first step towards bringing change into our life, we have begun a journey. Like most journeys, this one will have its share of ups and down. There will be times, when you will want to go back to the way things were, and there will be others when you feel lost and alone. Embracing these feelings for what they are, is an important step on this journey. If we let our emotions hinder our capabilities to move forward, we will find ourselves trapped, and unable to bring about the changes we want to see in our life. There is no doubt, we will fall many times, to fall is only human. What matters is whether we have the courage to pick ourselves up, and keep moving on.

Listed below, are a couple of pointers which have helped me carry on, when the going was tough:

1. Keep a daily log: This simple activity does not require you to write pages of detailed specifics. Its primary purpose, is to help you understand the transformations which are taking place in your life on a daily basis. As a secondary purpose, it serves as an outlet which allows you to express your thoughts and emotions.

2. Support systems: When we are undergoing drastic changes in our life, we need to identify an individual or a group of people, to rely on to help you through this period. Better yet, taking someone on board who also wants to change or inculcate the same habit, is ideal. This way there is someone to identify with, who also understands what you are going through. This emotional bond sometimes creates a force strong enough to overcome just about any obstacle.

3. Reward yourself: This is a tip I use a lot when going through change. It provides incentive to push yourself further. The sense of accomplishment when you are rewarded for your efforts, is a great boost as well. This also helps create a momentum that is infectious, and soon you find yourself hitting goal after goal. Choose your rewards carefully,  they play a major role in motivating you to go further.

Sustaining change is a challenging task. We have to constantly keep reminding ourselves why we want to change, and what we hope to achieve, once we have changed. The rationale behind the reason for change must be based on solid foundations. Without this base, reverting to older habits is more likely, and no one likes to admit failing. However, after having said that, there will be times, when although the reasons for change are based on the strongest of foundations, we still fail. At this point, it is best to go back and understand the reasons again. Was a trigger missed ? Does the plan need changing ? The minute we start blaming our inadequacies, is when we lose hope. Look for reasons , not blame.

Remember there is no such thing as failure only feedback!

Advice Change Inspiration

Taking Action

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“Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires courage.” Ralph Waldo Emerson

We can plan all we want, in the end, it all boils down to taking action. This step requires courage, determination, and above all, belief in your capabilities to bring about change. Life is too short to expect those around us to change, or, to stand still and hope that things will become better. The truth is, once you sit on the fence for too long, it becomes comfortable, and taking a decision becomes a lot harder. In my own life, there have been times when I have been guilty of such behavior, we all have. However, what has happened in the past remains there, what is important is, that we don’t make the same errors today. If you have decided that something in your life needs changing, and have figured out what it is, and how you plan to change it, then you need to do, just that.

The first step towards wanting to bring in change, is to take responsibility for your life. It boils down to you, and how committed you are, to wanting change in your life.  For example, we are constantly bombarded about the side effects of smoking, in Singapore, they even have gruesome photographs on cigarette packs of what it could potentially do to you. The mind however, is such a powerful thing, that these images are subconsciously blocked. By remaining undecided and continuing to sit on the fence,  it may well be too late when you decide to take action! I accept that it is lot easier for me to say such things because I don’t smoke, I realize that giving it up is a very difficult process and one which requires a lot of discipline and determination. I believe however, that to find courage to take action, sincere and convincing arguments need to be understood with an open mind. Fully comprehending the negative impact of this habit is vital.

Along the way, curved balls will be thrown at you undoubtedly. Certain triggers will appear repeatedly, the urge and need to revert back will often be too strong to resist. However, if you have been strong enough to take that first step, with all the right reasons and intentions, half the battle has already been won. The theory of “Ready, Fire, Aim” is one which I believe in completely, it forces you to take action. There will always be fears and doubts regarding the outcome of an action, the important thing is, that you have taken that first step. Once you have begun to take consistent action, it is now, only a matter of maintaining a momentum to help you reach your goal.

Advice Change Inspiration

Planning to change?

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“Reduce your plan to writing. The moment you complete this, you will have definitely given concrete form to the intangible desire.” Napoleon Hill

After we have identified the change we want to bring in, as well as the reason for it, we need a road map on how to implement this change into our lives. This is another critical process which requires substantial time. It is easy to wake up one day and tell yourself, you are going to change from tomorrow. This is easier said than done, whenever I have used this technique, it takes around 3 days to go back to old ways. What your mind needs, is direction. It knows the reasons to change, it also needs to be told how to get this change going.

 An effective plan for habit change, is better for the following steps :

1. Documented: A transfer of ideas and plans onto paper is essential. This is an obvious first step, however, most of the time we neglect to do so, thinking it to be trivial. Before starting any change, write down what you want to change and why you want to do so.

2. Time Specific: Setting yourself targets spread over extended periods of time (months, years) is not an effective strategy. Commit yourself to a realistic but challenging timeline, to help you start seeing results.

3. Identify Triggers: Most habits are triggered by specific activities or emotional states. Do your best to identify these triggers as soon as possible. Once you have list of triggers, you will need to compile a list of alternative actions that need to be taken in place of this habit. For example, if your smoking is triggered by the completion of a meal, replace the cigarette with some nicotine gum or green tea. This is a key component in developing your strategic plan.

4. Create Mini Goals: As humans, we need to be constantly motivated, to continue moving forward. Therefore your plan may be broken down into mini goals, which can be rewarded when acheived. This will help keep your motivation at a higher level.

Using these basic components, plan how to go about your day. This doesn’t need to be very detailed, it just needs to be specific enough, so you can monitor your progress. By developing a plan, you will have a guidance system, which helps keep you on track, and provides you with the necessary motivation to wake up the next morning, fully aware of the steps you have to take, to change that habit!