Questions Business Owners Ask Me and the Answers I Give Them

As a Business Intermediary, these questions and answers within this article hit home for any perspective business owner thinking about selling in the short or long term timeframe. Here are some key points that I have used continuously throughout my career with my clients. I find that LISTENING, UNDERSTANDING AND EDCUCATION my clients goes a long way in my relationships and a successful selling process.

  • The price a Buyer offers you that you are willing to accept
  • Do not allow your business to be too dependent upon you
  • Stay focused and operate your business as if it will never sell
  • Have job descriptions, policy and procedure manuals

Never sell the business to a person or business you feel will not treat your employees, customers, and vendors properly

Please read full article: Questions Business Owners Ask Me And the Answers I Give Them

Can We Get More Done in Our Lives or is This Just a Myth?

The key question from this article is “Are you treating every minute of your day equally”?

The article explores and asks each one of us if we treat the minute we crawl out of bed differently than the minute we take on a challenge.

Do we stretch minutes or do we rush minutes?

As a business how and why do you expand your workforce? With that workforce expansion do we track if there is an actual increase in the work that is done?

Although academia, government and business may find the analysis beneficial and worthwhile, it is the personal side that benefits the most! The reason being one person can be held accountable if they are true to themselves over a much larger contingent of participants.

Please read full article: Get More Done by Applying This Obscure Economic Law

The Future of Talent Development

The short article, The Future of Talent Development, is very informative for any organizational leader or an aspiring leader. I took three very important sentences from the article that I have either witnessed or been challenged with in my career.

  1. “The growth and development of people is the highest calling of leadership.”
  2. “The future of talent development is developing the entire person.”
  3. “You must develop an employees soft skills as well, which enables them to live a more fulfilling life.”

Throughout my career of Manufacturing Leadership and Consulting it has become very evident that leadership of any kind requires understanding and adapting to the workforce society has presented you. Unlike in the past you could motivate workers differently because of the work ethic and loyalty that existed during that timeline.

Today, the employees no matter what level within an  organization have numerous aspects of their life (work and personal) playing out throughout their career. It has become apparent to me that when an employee is in the work setting, their attention span or focus is challenged with the many issues (work and personal) that are part of their daily life.

Why the need for all organizations to truly sympathize with the environment each employee faces and to develop the whole person they employ. As much as this may go against the culture, it must occur to get more leadership within your organization.

Please the full article: The Future of Talent Development

 

Achieve What You Want With the Right Plan & the Right Talent

I pulled out a few notes from the article I would like to comment on:

  • “You can achieve anything you want in your business and life with the right plan implemented by the right talent.”
  • “Right plan has a vision, goals and an action plan.”
  • “The talent on your team is based on the strategy of the organization.”
  • “The plan drives what talent you need to achieve it.”
  • “The team that has the right people in the right positions to get it done.”

“Without strategy your talent is not focused and without talent your plan is not implemented.”

In my years in manufacturing we did it the complete opposite and thought by bringing in the talent they could help construct the strategy and eventually implement it successfully. As I think back, unless you have the vision, goals, and action plan strongly in place, how can you actually find the talent to carry out the strategy.

Many organizations struggle with spending year after year looking for talent and creating a strategy, but are unsuccessful in their attempts because they did not plan which led to profits.

Please read the full article: Achieve What You Want With the Right Plan & the Right Talent

Sources of Existential Angst

Suicide is not a topic any of us really want to talk about, but I found this article that attempts to take on the subject. Most if not all of us have been touched by suicide. These are what I believe important statements within the article:

I will start with Faith, Family and Friends!

  • A satisfying and purposeful life
  • The digital age has removed any barrier to entry when it comes to making one’s voice heard
  • Rather than showing the heights to which a person may soar, it shows the depths to which a person can descend
  • You can’t help but wonder how your own life measures up. More and more we see ourselves from outside ourselves
  • One’s “personal photo album” is open to hundreds of onlookers via social media. There is more pressure to perform – to edit the film of one’s life to show only the best
  • Distorting the contemporary landscape into something more threatening, more dangerous – more compelling – than it is!
  • You can pretty much do whatever you want, short of breaking the law, and endure minimal social repercussions
  • Social media exposes us, in full stylized, living color, to every other lifestyle option as well

This all leads me back to Faith, Family and Friends, Values, Traditions, and Practices which helps me withstand social and life challenges that are forced upon on me every day.

Please read full article Sources of Existential Angst

The 1 Secret to Employee Retention

The article, The 1 Secret to Employee Retention, hits upon some key points to talent retention in organizations. What I came to realize early in my career was the need to communicate clearly and often with all employees.

You will never find out what each employee’s hot buttons are or what motivates them without open and true listening discussions with them. The discussions have to be done frequently and must be done with focused understanding from both sides. If each side is not honest can also be a detriment to the discussion.

Team is often overused in the business world, but being able to identify motivating characteristics of all of your employees will bring a team atmosphere that will be challenging and beneficial for individuals as well as the organization.

Please read the full article HERE.

Learning from Mistakes

When a decision is made to move a career into a whole new direction, you can find yourself exposed to new traits of your chosen profession.

When that elected calling is in sales, you are constantly taking an introspective read on a daily basis. The reason may be knowledge based, research, or possible a need for self-assurance.

Although sales may look like the primary responsibility, providing consulting with wisdom to clients is the ticket to get the needed trust and respect established and a strong lasting relationship started.

As the learning process moves forward, you learn more about who and what your current and potential customers may be thinking or feeling.

  1. The need to understand and feel the customer’s pain. Forget about your needs. Listen and most importantly understand the needs of the client.
  2. The financial reward should not be the goal. Best to serve the client or customer and the money aspect will work its way out.
  3. The thought and approach to seeing sales as just a job. After closing a deal, immediately start on the next one. The job becomes part of life in so many ways.
  4. Letting yourself get upset over small things. Rejection and being told no is part of the job. As difficult as it may be, carrying a positive attitude 100% of the time is a must.
  5. Preparation, preparation preparation! Do your homework and do the research well. Know not only the answers, but the questions clients may ask before you enter into a meeting or discussion. Practice until your confidence is present.
  6. Treat everyone, no matter who or what they do with respect. Before you can gain anyone’s trust, there has to be mutual respect.
  7. Relationships take work, effort and do not happen overnight. Over time, relationships grow but you must understand each relationship requires different nurturing elements.
  8. Spot opportunities, potential improvements, and ask questions.
  • What would a customer want to improve?
  • What could the client be doing better if we could help them?
  • What small problems a client has that could grow into bigger ones?
  • What slows the client’s work or makes it more difficult for them?
  • What aspects of their business do they often fail to achieve?
  • What is frustrating and irritating your potential or current client?

It is important to get into the habit of asking and looking for these things with your clients. You want your clients thinking of you not purely for sales but also the mentor or consultant when things go wrong and they need to turn to that someone!

10 Things Successful People Never do Again

10 Things Successful People Never do Again

I had a recent business scenario that took me in, and when I look back I  realize I was ignorant of many of the 10 things mentioned in this article.

  1. Trust someone or something that appears flawless – For me, the situation and the process moved at a rapid pace, and rather than being observant of potential red flags, I continued driving the process forward.
  2. Take their eyes off the big picture – I was too focused at the end game, and I did not see how each of the smaller non-fitting pieces failed to fit the bigger picture.
  3. Neglect to do due diligence – The initial due diligence appeared to be fine. As the process moved on, additional due diligence was potentially required but was not followed through on.
  4. Fail to ask why they are where they find themselves – Something that I should of asked with more frequency throughout – even the though the pace was hurried.

Although the outcome financially was saved, the overall personal impact will never be forgotten on many fronts. Many things were learned from this experience, but most important is that each of us must understand our role and act in that role to the best of our abilities! This may mean asking for help, asking questions, asking “why”, and slowing down efforts even when others want to move faster.

Read the full article 10 Things Successful People Never do Again.

An Excuse to Be Lazy? What You Can Learn From Ben Franklin’s “Lost Virtue”

I am sure some of you will remember how you got your first car. My first car memory is still vividly with me and something I will never forget. Definitely a grandchildren story!

The article within may bring both some early years and current content for you. I highlighted some points that sure hit home for me and may for you as well. Please read on…….An Excuse to Be Lazy? What You Can Learn From Ben Franklin’s “Lost Virtue”

The 7 Habits: Think Win/Win

Stephen Covey was a great writer and human and we lost him far too soon. I read a number of his books and found them to be true to life and contained many excellent paths a person can and should take in their personal life. This particular article hits home on the “4 paradigms of relationships”.

  • We must get your own life in order
  • You have to be an individual yourself
  • You have to know who you are
  • Always remember “it’s a lifelong process”
  • Success in life in not purely an individual effort
  • #1 Win/Win – Everyone feels like they benefit from the relationship
  • #2 Win/Lose – You get what you want while the other party feels like they got the short end
  • #3 Lose/Win – They let people walk over them
  • #4 Lose/Lose – If you are going down, everyone else is going down with you
  • Of course the Win/Win is the one we should all strive for

Please the full article: The 7 Habits: Think Win/Win