Posts tagged "commitment"

Consistent Communication

“To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.” Anthony Robbins

We have all come across businesses where senior management says one thing, middle management says another and the customer service representative says something completely different. Another example, marketing slogans promote 24/7 customer support yet, there is no one to answer the phones at 3 am in the morning. When there is inconsistency in communication, building trust will be an arduous task. As younger startup companies, we have to instill the importance of consistent communication, from the beginning of our operations. Such a culture will act as a catalyst in the development of trust and creating a level of loyalty to your product/service. Failure to do so will have a detrimental impact on your business as a whole, and it will be very difficult to retain and nurture existing customers. 

Several key areas where consistency of communication is of utmost importance are:

1. Senior Management: This group of individuals is responsible for the creation of a culture where candor is promoted through the ranks. They need to lead by example by keeping their word, and being upfront and honest with all employees, vendors and customers. This is manifested in the little things, how many times have you told your secretary or colleague to make up an excuse when you don’t want to speak to someone on the phone? If one promotes honesty and consistency in the organization such actions clearly conflict with the message that you are sending to your employees and colleagues. Inconsistency of communication is usually the result of a breakdown from senior management. This group needs to be extremely vigilant of their actions and words. 

2. Customer Service: How many times have you called a support department and felt like slamming the phone down because of the level of service you received? I know I have wanted to do so many times. This is the result of the gap in communication between middle and senior management. When this level is not clear about the level of communication the organization stands for, what their role is, or why it is important that they act and behave in accordance with the principles of the organization, they will not be able to communicate this messages to the end customer. I understand that in todays world, doing this while outsourcing these activities to third party vendors is going to be a difficult task. However, it is of vital importance that creative solutions to this problem be developed to facilitate the trust building process.

3. Marketing: Seth Godin wrote an interesting book called “All Marketers are Liars”. It uses various examples to drive home the point that the most successful corporations are the ones who have consistent and honest marketing. Today, we are bombarded by millions of advertisements, many of them use deceptive tactics to stir curiosity. I am sure many people click the pop up banner which says you have won a million dollars. Often a company will promise features and capabilities which they may not possess. Most of these companies will never be able to develop any trust with their target customers. As a startup, use marketing as a tool to tell a compelling story, which is rooted in honesty. 

Consistency of communication must be developed through the entire business. When mistakes are made do not attempt to cover them up and embellish the truth. It only takes a single act of inconsistency in your message to destroy any trust which may have been developed between your partners, vendors or customers. 

Competence

“A competent leader can get efficient service from poor troops, while on the contrary an incapable leader can demoralize the best of troops.” John J. Pershing

Competence is a pre-requisite for the process of trust building. An individual or business is deemed competent in a particular skill set when they have proved themselves adequately. However, for a new startup, without a track record, this is often a very challenging task. Competence needs to be communicated through actions in a younger team. For example, take two startups, both aiming to develop similar ebay replicas in a virgin market. Both teams have identical skill sets in terms of technical capabilities. One of the team, actively looks for individuals with prior experience in this sector, and adds them to their advisory body. Along with this, they get a major courier company to sign up with them as well as a reputable payment processor. A customer evaluating which website to use, will clearly choose the team which has put in extra effort in developing weaker areas of expertise. 

This example goes to show that younger startups need to think creatively about areas of competence and work pro-actively on weaker aspects. Areas of competence must be clearly communicated to their target audience. Some areas which can be emphasized for younger startups are:

1. Education: Many startups comprise of young team members who may still be at university or have recently graduated. Emphasis on your team’s specialized educational background to show they have adequate technical, managerial or marketing skills required by the business is an asset. Any other certifications or external program qualifications of team members can also be added when relevant. 

2. References: References from established members of your target industry whom you or other team members have worked with, can be very helpful. This serves as a validation of your skill sets and capabilities. This is particularly handy when a team is involved in raising seed funding at an early stage of the venture, from angels, friends or even family. 

3. Talent: All of us have some particular talent which makes us unique. Some may be good at public speaking, sales, programming, art, writing, sports or another talent. When your talent pool adds direct value to the business you are embarking on, it is advisable to highlight them. They add depth to your overall profile and provide keen insights into team member’s skill sets. For example if you were a swimming champion throughout university, it shows that you have discipline, and thrive on competition and high endurance levels. Many valuable characteristics can be extrapolated from that one talent.

Once credibility has been established, the display of competence becomes a lot easier to communicate. We all know that google is by the far the best search engine today and that it’s team is highly competent at creating algorithms which continually improve the product. A new startup wanting to challenge google will have a very difficult and challenging task to communicate that level of competence. Developing competence levels within your business is a constant work in progress. Set goals, and keep developing the team’s capabilities in strategic areas, to ensure that long term trust can be built with your customers.

Integrity

“Have the courage to say no. Have the courage to face the truth. Do the right thing because it is right. These are the magic keys to living your life with integrity.” W. Clement Stone

Integrity is a foundation block of building trust, in both life and business. Our integrity levels are built upon our value and belief systems. It is these systems which define us as individuals and businesses. Ensuring that the core values which define us as individuals, are in congruence with the values we want our business to be defined by, is vital. A mismatch between these two creates substantial friction. Therefore, it is essential when building your team, to get individuals who have similar values and beliefs. Integrity however is not something which is developed overnight. An individual or organization needs to work hard and consistently to develop an image of integrity. 

Our integrity is based purely on actions and decisions we make in life. They reflect who we are and what we stand for. Listed below are a couple of integrity benchmarks to help gauge integrity levels:

1. Congruence: This is an essential sub component when evaluating integrity levels. Complete congruence is when we think, speak and act in an identical fashion. However in this day and age, this is becoming increasingly difficult. Organizations want to make money, to achieve this they embellish their services with words which are not actual representations of what they provide, finally, they provide customers with sub par services to achieve their primary goal. Such an organization will find it impossible to build a loyal customer base, and will probably not be around for very long. We have to ensure that are actions are in congruence with our thoughts and words both as individuals and organizations.

2. Commitment: Promises made by individual or business must be honored. If your business guarantee’s 99% uptime of your services, make sure that there is an adequate infrastructure in place to support that commitment. I am sure we have all come across individuals who promise us the world, but when it comes down to getting things done, they rarely deliver. Such individuals get labelled as big talkers and cannot be depended on. Therefore, be very careful when making bold statements and promises to customers. 

3. Courage: In life, at some point or other, most of us will find ourselves at a crossroads of opportunities where taking the easy way out goes against all our principles and beliefs. It is at moments such as these that an individual’s integrity is truly tested. This is specially true where money is concerned, and we have seen many public cases where senior management compromised their values for short term monetary gains. Many businesses turn a blind eye to sweat shops, below quality products and poor service.  Not standing up for your principles and beliefs makes developing a reputation for integrity a very challenging task. 

I hope these benchmarks will get one thinking about personal integrity as well as that of the business. Without this crucial element, we could have the next killer product, service or idea, and yet not succeed. One needs to be constantly vigilant about what our thoughts, words and actions are communicating. An immediate exercise one can do with our teams is value identification. This will help clarify the team’s and businesses common value systems as a whole. This list can help measure actions against them, to gauge the sort of image being projected.

5 Steps on How to Make a Decision

“When you cannot make up your mind which of two evenly balanced courses of action you should take – choose the bolder.” William Joseph Slim

Over the course of this last week I have talked about the decision making process. This process can help us in making difficult decisions. The process forces us to take action and to move from one step to the next in a continuous flow. Standing still has to be avoided at all times. From a business perspective, not being able to make critical decisions or to keep delaying them, will eventually lose you any competitive advantage you may have had. The world unfortunately does not wait for us to find the right time or right opportunity to make a decision. Listed below is a methodology I use for decision making:

1. Objective Clarification: The first step when making a decision is to look at the larger picture. Decision making is not an isolated process of just meeting specific needs, it is one in which broader goals and aims have to be taken into consideration for the future. It is only after clarifying what we hope to gain or learn from the decision we take, do we move to the next step. To learn more on how to clarify objectives behind a decision please click here.

2. Data Collection: The second step involves getting all the facts and figures required to make a decision. This could include, research, surveys, feedbacks or any other form of data collection which would provide us with information to help make a decision. The truth is, it is not possible to have all the facts and figures specially in a time bound situation. Life is about making optimal choices based on, often incomplete information. One must not let lack of data hinder us from making decisions. To learn more about data collection please click here.

3. Listing Options: Once we have adequate data about decisions we have to make, the next step in the process is to develop a list of alternatives. The purpose of this list is to put down on paper different options available.There will always be several possible alternatives available when one has to make a decision.Making an endless list of possible alternatives is not wise, and frankly, will waste a lot of time. Be specific in what you want and develop your alternative list accordingly. To learn more about developing an option list please click here.

4. Evaluating Options: I use a simple model which helps rank options according to our objectives and weight-ages given to specific factors. This enables us to rank each option in an unbiased manner and helps to gauge how they compare against each other on a holistic level. This model is developed on the basis of the prior 3 steps discussed. To learn more about the model and how to use it for your decision making process please click here.

5. Making a Decision: After successfully completing the four steps outlined above, we reach a point where we should have enough information to make a decision. Most of the time, we will not have all the information required, life is all about making optimal choices based on incomplete information. We should not let this affect our decision making process. Once a decision has been made, one needs to take responsibility for it and ensure follow through. To learn more about the final step in the decision making process please click here.

If one were to look back at life, there are bound to be decisions which, in retrospect were not the correct one. The important thing to remember is not the fact that one made a wrong choice, but whether we learned from the mistake or not. We should not let past failures inhibit us from making similar decisions in the future. If one were to take such an approach,  very little progress forward would be made. As mentioned earlier, life is short, we need to have the courage of our decisions, confidence to trust our gut instincts, and keep moving forward. I wish you all the very best on all your life decisions in the future.

Can you make a decision?

“In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.” Theodore Roosevelt

After weighing all possible alternatives, a decision making point is reached. This stage in the decision making process is where many individuals face problems. Some of the reasons I come across quite regularly for this are; there is inadequate information, I have received mixed reviews from feedback which has further confused me, I want to put this decision off for a while to think about it more, I cannot make this decision alone and, what if I make the wrong decision? These are all valid reasons to put off making a decision. However, if this becomes a recurring pattern in life, then, very little progress would be made when a difficult problem arose. 

Once our homework is done, and we believe we have adequate information about the decision at hand, we have to take a leap of faith. Waiting for the perfect situation, the perfect business opportunity or the perfect partner will invariably hold you back. We have to be proactive and want to move forward, this not only increases confidence, it provides invaluable experience and feedback. It is in moments of decision that we find out who we really are, and what we are made of. Use these opportunities to showcase your skills and abilities rather than shying away from taking responsibility. 

Once a decision is made, the next most important aspect of this entire process is, follow through. We have to be a 100% committed to the decision we make, and take full responsibility for it. This is not a time for excuses or getting cold feet. We must prove to ourselves, as to those affected by the decision that we have what it takes to execute the decision. If one makes a habit of changing one’s minds after taking a decision, this reflects poorly on character and value systems. In business, such a person would be deemed unreliable, and lacking the confidence required to take responsibility. Hence, next time you are put in a position to make a decision, do your homework well ,and when ready, make the decision and follow through. As an added benefit, the feeling one experiences after making a correct decision is amazing, and should be the end goal every time!

5 Steps to Patience

“Patience is waiting. Not passively waiting. That is laziness. But to keep going when the going is hard and slow – that is patience.” Anonymous

When we read about the lives of great men and women, we find a common thread in their stories. That thread is patience. In today’s day and age of instant gratification, patience levels are at a steep decline. Too many people are moving too fast, too soon. Their lives are checkered with dissatisfaction and frustration. Lack of patience has a definite impact on the entrepreneurial journey as well. If wanting it all yesterday is a priority, this path does not have what you are looking for. Patience is a virtue which cannot be learned through text books or courses, it is acquired through experience. We are all constantly placed in situations where our patience is tested, the manner in which we choose to react to these situations, determines our patience tolerance level.

Listed below are five steps to understanding situations where patience is tested, and sequential consequences if patience is not exercised:

1. Strategic Indecision: Instant success for entrepreneurial start-ups is a rare anomaly. If you embark on this journey, make sure you realize it is for the long haul. It will require remaining committed to your strategy, and to constantly adapt it to market demands. Inability to adapt and change will give rise to growing impatience which will impact negatively on your business. To read more about patience and strategic indecision please click here.

2. Marketing Results: The secret behind companies who 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 you send out and ensure you send them out regularly. Once the messages are out there, be patient, results will follow, in time! To learn more about marketing and patience please click here.

3. Handling Customers: Prospects and customers have an uncanny ability for getting under your skin, often driving you close to insanity. It is important to learn to keep one’s composure when dealing with difficult customers. There are several strategies which can be employed to help relieve some of the frustration, these include correct identification of prospects, using CRM software and having disqualification processes. To learn in greater detail about customer handling strategies please click here.

4. Employees: Managing employees effectively requires great levels of patience. They can be a handful, specially when the organization is growing rapidly and micro management is not an option. To help develop  patience levels for this, learning to set realistic expectations and providing continuous feedback is vital. To learn in greater detail strategies for management of employees please click here.

5. PRICE of Impatience: The price of impatience is, pain, regret, irritation, close-mindedness and becoming emotional. Each one of these can have a defining impact on your business, team and relationships. By not developing adequate tolerance levels to handle the complexities of business, reaching one’s goal can be a challenging process. It is important we learn to ask ourselves “Can I afford the price of my impatience?”. To learn more about the price of impatience please click here.

Developing a high threshold of patience, helps make the difficult challenges we face daily, more manageable. It enables us to enjoy life in a more fulfilling and satisfied manner, which in turn helps us to go on to achieve great things. Everyone will have moments, when lack of patience gets the better of them, keeping these incidents to a minimum, and being vigilant and pro-active about such lapses is essential. It is only when we become aware of patience thresholds, can we work to keep increasing them.

The Price of Impatience

“One moment of patience may ward off great disaster.  One moment of impatience may ruin a whole life.” Chinese Proverb

This week we discussed several scenarios where patience is tested on the entrepreneurial journey. For the last post of this series I will focus on the ‘price’ we pay for lack of patience. Understanding the price of impatience is as important as developing patience. All of us have experienced instances where our patience gave way, and we did or said things which impacted negatively on our life and caused regret. What is important, is that we learn from these temporary lapses and ensure they do not occur again. If we don’t, we run the risk of always being angry, upset and dissatisfied with the progress of our growth. 

Outlined below is what I define the PRICE of impatience to be:

1. Pain: Whenever we lose patience, we cause pain to both affected parties. Often, this is embedded in our subconscious and a recall of that memory, can be a painful experience. There are times when a degree of pain helps us realize all that we should be grateful for. Too much pain however, can be the cause of major instability in life.

2. Regret: Sometimes during lapses of patience, we find ourselves doing and saying things, we would never do ordinarily. It all happens so quickly, and we only begin to understand its impact after everything is said and done. That is when the regret sets in, and if we fail to move forward at this point, it has a domino effect on the self. Regret about something which happened in the past is definitive only by the lesson we learn from it, we must learn to avoid acting in a similar manner again.

3. Irritation: Patience and irritation are negatively correlated, when patience is on the decrease we experience a heightened level of irritation. Nothing and nobody seems to be right anymore. It is like a virus that drains energy out of a team. We have to keep this emotion in check constantly when we are running low on patience, it is one of the easiest ones to give into. 

4. Close-minded: When we lose patience, it is like a switch goes off and blocks everything around us. We become increasingly selfish in our outlook and begin to believe that only we know how to do anything right. This is a dangerous path to tread, the price we pay for this attitude is a serious one. 

5. Emotional: We lose our patience and suddenly, all logic and rationale goes out the window and we find ourselves making emotional decisions. These are usually clouded with the false notion that we know best. This also triggers our saying and doing things that have the ability to cause pain and suffering to those around us. Is a lapse in patience really worth destroying something you may have spent a lifetime nurturing? 

Whenever you find yourself in a position where your patience is wearing thin, ask yourself the following question: “Can I afford the price of my impatience?”. It is important to take into account the larger picture. If we do not, our outlook will remain selfishly restricted to me, myself and I. Is it really worth it?

Employees and Patience

“The five steps in teaching an employee new skills are preparation, explanation, showing, observation and supervision.” Bruce Barton

Two characteristics often found in entrepreneurs is, the need for perfectionism and control. When teams are small, this works to their advantage, however, when business expands, these characteristics tend to be more disruptive by nature. For example, when the business starts to grow, it is inevitable that more resources will need to be hired to keep up with growth. The selection process itself is a difficult process for start-ups with limited experience. The real fun begins when you have these new resources on board and most of the time, they don’t know what they signed up for. Earlier on, I expected the same work ethic, dedication and sacrifices from them as I did of myself. That didn’t go so well, I soon found myself getting impatient as I had set unrealistic expectations. My perception of the scenario was biased, in the process I lost many good people. I learned a thing a two about patience during this time.

Some of the key things to keep in mind next time you feel your patience wearing thin are:

1. Set Realistic Expectations: To expect the people who work for you, to make the same level of sacrifices that you may be making is not correct. From the word go, we have to temper our expectations and more importantly, outline them before you start the selection process. This way, while recruiting there will be more detail, which will help the prospect to make a more informed decision. Keeping broad guidelines for what you want from an employee, will result in both sides being negatively effected.

2. Holding Hands: The on-boarding process takes time, this is the time to help the employee make necessary adjustments to fit into the organization. Bring them up to speed with the projects they will be working on and acquaint them with all the set processes. It takes an average of 1-2 months to bring an employee up to speed, till they start contributing to their potential. Make sure you help them as much as possible to speed up the process.

3. Feedback: We are all human and we all make mistakes sometimes. Instead of coming down hard on an employee regarding their work ethic, performance or behavior, provide feedback on steps to take to bring about positive change. Doing this effectively takes time and a lot of patience. Even when they mess up the proposal, don’t do a good job at that presentation or keep coming late to work, provide them with timely feedback. 

These are simple steps to take, to help become more patient with your employees. Incorporate them into your organization and see increased performance results, calmer working environment and a motivated workforce. Along the way, you will develop the patience required, to scale the business further and help manage people all over the globe. Remember, it is not possible to do everything ourself. Learn to sacrifice a little bit of that perfectionism and control, it will go a long way, in the larger scheme of things. 

Related Articles:

5 Steps to Hiring Better

Are customers testing your patience?

“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.

A Marketing Secret

“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!