Posts tagged "motivation"

Advice Leadership

Providing Vision and Focus

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I believe an important first step that needs to be taken by a startup leader, is providing a vision for the business as a whole. I am not referring to something formulated at a resort at a weekend retreat or some other offsite activity. Formulation of a solid vision requires detailed analysis about why your organization exists, the strategies you plan to use to reach your goals, and the underlying values which will help you get there. This needs to be a collaborative effort and should involve the entire team. In some of my earlier ventures, I disregarded vision as being a fruitless exercise, which involves just talking about goals and objectives without any solid foundations. A vision was something that needed to be put on the website to communicate a message like “We aim to revolutionize the creative designing industry by using state of the art technology and delivering maximum return on investment to our customers.” 

When new members joined the team they probably read the vision statement because it was framed and hung in the office entrance. They probably never noticed it after that. What then begins to happen (this process is accelerated at startups) is that team members begin to lose focus, and attention is diverted from the intended goal to something completely opposite. The business eventually starts to lose its footing, and struggles to find direction. The team becomes frustrated with the lack of progress, and motivation takes a nose dive. While all of this is happening, the leaders blame bad market conditions and increased competition for the loss of business. This is when they all need a reality check.

As a leader, it is your initial responsibility to create a vision with your team, one which is strongly rooted in SMART goals. The team must feel and think that the vision is achievable, and know what action steps need to be taken to reach it. Next, the leader has to infuse every member of the team with the spirit of this vision. It will get repetitive, as also really irritating at times to go on and on about something, but this is a vital and important responsibility. It is only when a vision statement becomes more than a piece of paper, will we actually see a boost in productivity of the overall team. One begins to see an increased level of focus and a tangible feeling of direction. If you are in-charge of a startup team or, any other team, start with creating a vision, and aggressively infusing your team with it!

 

Advice Inspiration

5 stories relating life to business

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“You never have an idea of what you might accomplish. All that you do is you pursue a question. And see where it leads.” Jonas Salk

Life is a fascinating journey and every morning I get up and look forward to the new challenges that I will have to face and learn from through the course of the day. You need to keep that perspective to live life fully. Over the course of this week I have talked about 5 recent personal incidents. They were instrumental in giving a different perspective to my usual business approach.

1. Sales & Relationships: An encounter with a street merchant helped me understand the importance of building a deep relationship with key clients . It enhances and improves the selling process when the person you are selling to, trusts you. To read the entire story please click here.

2. Squash & Strategy: This story is another affirmation of why the tortoise won the race. When embarking on a new journey take time out to study what you are getting yourself into. You should have a clear idea about goals and time frames and should build your strategy around this foundation to maximize your true potential. To read the entire story please click here.

3. The Gym: This story talks about the value of partners in our life and the instrumental role they play in helping us reach our true potential. By selecting your partners carefully you increase your chances of achieving your goals. To read the entire story please click here.

4. Different Perspectives: This story is about two individuals in the same setting and their completely different perspectives on how to go about life. It talks about flexibility and viewing life from multiple perspectives to get a better understanding. To read the story please click here.

5. Crossing the Rubicon: This story talks about crossing the point of no return.This applies to setting up a business, deciding on a career path or even selecting a life partner. We have to ensure that we make these decisions after careful thought and for the right reasons. To read the story please click here.

This week I have thoroughly enjoyed writing this segment on life and business. I may just make this a regular feature to keep things an open perspective on matters. I hope all of you enjoyed this series too, I look forward to your comments and feedback.

About Me Advice

Crossing the Rubicon

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The Rubicon, is a river in northern Italy which Julius Caeser crossed in 49BC from which point it was not possible to go back. Crossing the Rubicon hence refers to passing through that point from where return is no longer possible. This may be due to a host of factors, such as, it being physically impossible to turn back, too expensive to go back or that the path is too dangerous. Working with startup companies I find it a most exciting part of the journey when that point of no return is crossed . However, please make sure that before crossing your Rubicon you are doing so for the right reasons.

When I setup this blog on the 1st of January 08 I crossed a point of no return. I let all my readers know that I was going to spend the next year updating this blog on a daily basis with advice and insights on entrepreneurship and life. I did so because I felt that I had a little experience which could help others who are in the process of setting up a company or working at a startup for the first time. From that day onward I had a responsibility to everyone who was reading this blog to make sure that at the end of every week I gave some advice which could be potentially helpful. It doesn’t make a difference if I have one reader or a million, my responsibility remains the same. Eleven weeks later writing my blog has become one of the most fulfilling part of my week.

If you are on the verge of starting your own business, deciding on a certain career path or even getting married, the one thing which you keep in mind before making these big decisions is “do it for the right reasons”. You shouldn’t let anyone force you into such decisions Look at them from all perspectives, align them with your value and belief systems and when you make up your mind ,cross your Rubicon without a whisper of a doubt.

Advice

Different Perspectives

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“Humans have the ability to shift perspective. We can experience the world through our senses. Or we can remove ourselves from our senses and experience the world even less directly. We can think about our life, rather than thinking in our life.” John J. Emerick

I meet a fair number of people daily, for business or on a personal basis . I find it most interesting that all of us have uniquely different ways of looking at the same thing. Over the last week I have had some interesting experiences showcasing how two people in the same boat can be looking at the picture in totally different ways.

I was coaching a team whose performance had been lagging in the last couple of quarters. During our one-on-one feedback sessions, one of the team members was constantly blaming external circumstances being the primary reason for his not operating at an optimum level. He blamed the organization for not providing an environment in which creativity and performance was fostered. He had hence decided, that he would stop giving his 100% and was just ‘making do’ in his current role. Another team member however, realized that even though the environment was not the best, he would not let it affect him negatively, instead he took on the responsibility to be the change he wanted to see in this environment. He started with his own team and department. Jim Collins refers to these as “pockets of greatness” (Audio).

There is no doubt this is an uphill task when one person is up against 9 others who share a different perspective. However he took up the challenge and after our coaching was completed he became a role model for the team and productivity and morale soared. Management began to take notice and some structural changes were made.

The lesson I learned was, each one of us has a unique perspective on life according to our inbuilt value and belief systems . Sometimes these systems are so strong that they cloud our judgement and refuse to let us look any other way. Being part of a startup or a multi national it is your responsibility to remain open and flexible about the view points of others. Don’t judge them, nor deliberately criticize them or blindly embrace them. Take time out to look at it from their perspective, what you see, may just pleasantly surprise you.

Advice Partnerships Teams

The Gym

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I recently started going back to a gym after a long break. Why is it that some of us get these spurts of energy to go to the gym which wears off soon enough after that initial boost of energy and enthusiasm? This is not an unusual trend for the gym, you set yourself enthusiastic new year resolutions to get into shape and 3 months down the road you quit for some reason or other. I did some research on this and found the following statistics:

  • “50 percent of all new health club members quit within the first six months of signing up, according to the International Health, Racquet & Sportsclub Association.” Source: Wayback Machine Archived Webpage
  • 1 in 5 club members use their club at least twice per week. 40% of those who join health clubs stop going soon afterwards. Source: Health and Fitness Website
  • In the article Time Management Facts and Figures by Dr. Donald E. Wetmore, it says that 90% of those who join health and fitness clubs will stop going within the first 90 days.
  • The first quarter of the calendar remains the key period in the year for new member acquisition for the club industry. Link

There is a lot of evidence supporting those claims. I then looked back at all the times I have joined a gym or a health club and actively used their services regularly for at least an year. The one common denominator for when I had gone regularly, was with a gym partner. It is strange but true how the dynamics change when you have someone to spot you, talk to and even benchmark yourself to.

This got me thinking of the posts I have written about teams and partnering, and how essential that aspect is, not only from a business point of view but overall in life. This applies to whether you are choosing a life partner, a gym buddy or a mentor to help you along the way. Through partnering we can achieve extraordinary goals and greatly impact productivity and morale. All you have to do is choose your partners carefully.

Advice Strategy

Squash and strategy

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“All men can see these tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.” Sun Tzu

I started playing squash around a year ago with a lot of enthusiasm. Like all sports, on the surface it looked like a simple game. Four walls, two players one ball; first person to miss the ball loses the point and the game is played up to 11. I was like, how hard can this game actually be. So I started off with a coach who taught me the basic rules, how to hold the racket and basic squash etiquette. That took around 3-4 lessons and by the end of the 4th session I was like “Bring it on”. However, he told me at this point that there was a lot more to learn regarding the game and it would take at least another 3-4 months till I got some basic strategy pat down such as serving, placement, running and steps.

That didn’t sit well with me so I told him that I would learn along the way and we should just start playing games and he could monitor my progress. He told me this wasn’t advisable but in the end agreed and we started playing. I noticed another guy who had started at the same time as me and who was getting regular coaching . I made a mental note that I would play him in a couple of months to test how well our two different routes had turned out. Fast forward to 3 months later, my coach told me that I had made good progress and was getting better. So I asked him to set up a match with the other regular. It was setup shortly thereafter and we decided to play a best of three. I sort of crushed him in the first game 11-5 and remember thinking this was going to be a cinch. Sadly I ran out of gas in the middle of the second game and lost the remaining two matches.

With my ego fairly bruised I spoke to my coach and he pin pointed the areas where I was handicapped. My opponent had learnt his steps correctly which directly impacted stamina as you use less energy to move around the court correctly, he had also learnt how to use less power in his shots to get the same impact I was getting, using the greater force I was generating. It was apparent I had a lot of catching up to do and a year into training I am still unlearning all the bad habits that I picked up earlier on.

This holds a very clear analogy to startup businesses. We start off thinking we have got the next best idea after google and begin to pursue it without getting the groundwork settled. We start with a vague or no business plan and without a clear short term or long term strategy. We face competition in our sphere very soon and others appear to be moving faster, more effectively and efficiently as compared to us and we wonder why. Its all about strategizing and getting those foundation blocks right. Don’t just push yourself to get into the game as fast as you can, take a step back and get a better idea of where you want to go and how. Plan diligently and follow it with perseverance. There is no short cut to success.

Advice Sales

Sales and relationships

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“Pretend that every single person you meet has a sign around his or her neck that says, ”Make me feel important.” Not only will you succeed in sales, you will succeed in life.” Mary Kay Ash

A couple of days ago on my way to a meeting I was stopped at a traffic light junction when a disabled man came to my car window, he was selling car cleaners . I didn’t need any, so he passed me by after asking. Moments later another disabled man who was selling the same came up to me. This was a man who has been selling similar merchandise at this traffic junction for the last 15 years and over the course of time he has sold many members of my family who pass this traffic crossing daily. He came up to my window,greeted me and condoled my grandmother’s passing away 2 months ago. The fact that he knew caught me totally off guard. He followed with casual chit chat regarding the health of the rest of my family and never once during this 5 minute exchange once mentioned whether I wanted to buy anything. You have to realize that we were at a traffic light crossing and were in a time sensitive situation. However, at the last moment, he casually asked whether I needed anything, I obliged and bought a fair share. Later on during my drive to the clients I began to think about what had just happened.

Sales is a very personal process, you are always more comfortable buying from or through individuals whom you trust or have a relationship with. Here was this man who had spent a large part of his life building a meaningful relationship with passer byes at traffic light junction . This continuous interaction on a relatively regular but short time frame basis had enabled him to build a relationship through which he could sell irrespective of whether you needed it or not. It wasn’t solely because he was handicapped otherwise I would have bought from the other vendors who attempted to sell me the same. It was only because of our relationship.

If you are running your own company or working at one where sales falls in your job scope I do believe the key to success is relationship building. I know it may sound somewhat cliched but just how many of your clients do you really know well. Truthfully, I need to do a lot more work in this area and this minor incident just showed me how strong a proposition you can build once you develop a meaningful relationship with your clients.

Advice

Life and Business

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“A business that makes nothing but money is a poor kind of business.” Henry Ford

Over the course of last week I have come across some interesting incidents which I documented in personal off topic posts. This week I decided I would share 5 of them so that we could all get a different perspective as compared to the traditional views on business and entrepreneurship I have taken in the past.

Life is a fascinating journey and every morning I get up and look forward to the new challenges that I will have to face and learn from through the course of the day. You need to keep that perspective if you want to live your life fully. I keep telling everyone that life is too short for us to take things for granted. I often hear some of my investment banker friends telling me that they look forward to the time when they can actually stop doing what they are doing and start living. I could empathize with that view a couple of years ago but now it seems not to be the most optimal way to live life. I realize many people have responsibilities and valid reasons for sometimes sacrificing certain things early on in life to enjoy life afterwards. Just make sure that whatever you do it is something you feel deeply passionate about and you wake up in the morning looking forward to the day. You are one of the lucky ones if that is the case.

The same applies for business when you are selecting or working on ideas make sure your value and belief systems are correctly aligned with what it is that you are working on. Money is a valid driver but it shouldn’t be the only one. You must have other drivers which force you to push yourself harder and further. You have to choose to do something which you truly believe in and let it take its course. My last couple of posts talked about losing balance in your life in the early stages with startup ventures, make sure the sacrifice you are making is worth it. It should really be more than just money. Also if you are going to have an imbalance temporarily in your life make sure you have as few responsibilities as possible. When you have a life partner, children or a girlfriend/boyfriend your actions have a direct impact on someone else’s life. That is why I advocate getting into business as early as possible because you have a lot less to lose.

I look forward to a lot more comments and feedback during this week’s blog as the topics are a lot more abstract. A lot of us have very different perspectives on the topics which are going to be written about and I would really like to hear from as many people as possible.

Inspiration Leadership Teams

5 ways to get you and your team motivated

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“People often say often say that motivation doesn’t last. Well, neither does bathing – that’s why we recommend it daily.” Zig Ziglar

Getting and staying motivated requires you to have the desire and faith to achieve remarkable things. It needs you to push yourself harder, test yourself, take risks and believe that impossible is nothing. We all have days which are far from being ideal. Such days test that intense desire to achieve what you have set out to get. The following lists methods to continuously sustain your motivational level and increase it when it begins to dip.

  1. Everything starts with you: Whether you are leading a team or are a part of it, it is your responsibility to bring your A game to work everyday. Identifying what motivates you to get out of bed in the morning is essential. Once you have identified these factors you will become a source of motivation for the rest of your team. To learn more about how you can identify your motivations please click here.

  2. Challenging goals: Creating smart goals for yourself and your company is critical to keep motivation at a high level. When you do not challenge yourself hard enough you tend to stand still. That is about the worst thing you could possibly do for yourself. To read more about setting challenging goals please click here.

  3. Progress motivates: Momentum has the ability to inject life into any project or venture. It is this remarkable energy which infuses teams with the ability to achieve the impossible. Motivational levels hit the roof when a venture has momentum on its side making it a key metric to be monitored continuously. To read more about generating momentum please click here.

  4. Motivational environment: Surrounding yourself with highly motivated individuals in an environment which caters to open communication and creativity is a sure way to keep the motivational levels in check. The environment and the people you work with have a direct impact on your productivity levels. Making sure you carefully monitor this metric will result in higher productivity teams, to learn more please click here.

  5. Rewards and recognition: A well planned rewards and recognition program can do wonders for the motivational level for yourself and your team. You first need to recognize what it is that motivates your team members and tailor a rewards and recognition program likewise. To read more about how to develop a rewards and recognition program please click here.

These are a few ways which have helped me keep track of the motivational level within myself and the teams I have worked with. I hope it helps others develop a framework for their own ventures and companies. Even though the ways outlined are very straight forward we need to continuously monitor them and see where we are lagging behind. I look forward to others adding to this list of ways they keep themselves and their teams motivated.

Inspiration Leadership Teams

Rewards and Recognition

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“No man, who continues to add something to the material, intellectual and moral well-being of the place in which he lives, is left long without proper rewards.” Booker T Washington

Rewards and recognitions are key motivational factors for teams. In the past, I thought rewards were primarily financial rewards. As I explored this topic more I discovered that different individuals required different types of rewards to keep them motivated. All that some needed was recognition by their boss for their contribution, others needed some affirmation from their team mates while others felt satisfied with their year end bonus. Your job as a team or project leader should be to find out what sort of rewards and recognition your team mates are looking for.

The tricky part with a rewards and recognition (R&R) program is to formulate it in such a way that is both fair and balanced. A badly constructed program could work against the organization and foster complacency and unhealthy competition among team members. When constructing an R&R program I usually involve all the individuals who will be affected by it to contribute their ideas and suggestions. Rather than constructing a standard bonus ladder you should aim to have a more dynamic program which keep things interesting while keeping the goals clearly in focus.

At a startup company, especially at the beginning ,when finances may be tight it becomes essential to structure an R&R program which gives team members necessary rewards and recognition and keeps the motivational level high. Some of the techniques which I have used have been providing training and development budgets, recognition awards and stock options, these have been helpful when working on tight budgets. If budgets are tight you should focus on developing a lot more creative non-monetary rewards. Tailor them according to the personalitiesand motivations of your team members . Learn what motivates your team members today and tailor an R&R program accordingly.

Related article: Rewards and Recognition for teams