business coaching

Successful business owners aren’t lone rangers – they seek out best practices, savvy shortcuts and mentors. They have someone ‘pulling them into their future’ and a team who ‘has their back’. Always. What about you? Who is helping you get to where you want to be? Who is helping you guide and build your team? Who is helping you to build your business? This is no time to ‘do it yourself’.

Business owners typically don’t like to do employee reviews. They can feel overwhelming to prepare. Some of the businesses I work with use systems that score performance in a variety of categories. Others want me to let them off the hook to do them (I don’t let them, I promise), others try to postpone them as long as possible, and some just don’t know where to start. Start here: employee reviews and compensation increases do not go hand in hand! Unfortunately, in many companies, the review happens once a year and occurs in tandem with compensation increases. But what happens when because of your business conditions, the economy, the employee’s performance or for any other reasons, there will be no increase. Does this mean that you don’t do a review? Of course not. Feedback is important – your employees need to know how you think they are doing. If you evaluate there are performance issues, the annual review shouldn’t be the first time an employee hears about it. But we’ll save that topic is for another day. As important, you need to know how they think they are doing. You can skip a long list of categories to rate by using this 4 question format. Ask your employee to answer these questions prior to the review and give to you. Then, when you answer the questions also, you can use their answers as a baseline and create the framework for your discussion:

• How are you doing?
• What are you most proud of since your last performance review?
• What is your biggest challenge right now?
• How can I help you?

Your employee will identify his/her own strengths and weaknesses and in many cases will be much harder on himself/herself than you would ever be! This makes it easier to provide your input. You’ll be coaching to get the behavior you desire rather than criticizing.

The first time you try a process like this it might seem as though it is too simple to be effective! But after a few times, it will become a low-stress, high-return habit (you’ll be growing as a leader). And you’ll notice the benefits immediately. You’ll both have more clarity about your company goals and how they need to be achieved.

Remember, you are providing feedback to your employees because you want them to succeed. I bet you’ll find this format manageable enough to use on a regular basis to give and get performance feedback from your employees. Let me know how it goes!

Ever wonder why some businesses continue to grow and seem untouched regardless of the economy? In fact, I bet you know of a few business owners who have consistent bottom-line improvement, regardless of the market. What do they have that you may think you don’t? Nothing. They simply follow a few key principles consistently. If you’ll consider doing the same, you can begin outperforming your competition immediately. Are you ready?

Stay Positive
There are dozens, if not hundreds or thousands, of books and audio CDs on the subject of the importance of keeping your attitude and mindset positive. Think from the end. What do you want? What steps do you need to get there? Focus on the action – you have to do a bit more than just keeping positive thoughts. The action brings forward motion. Action is the bridge from thoughts to results. You may be wondering how you keep a great attitude all the time? Frankly, you can’t. We all have upsetting or distracting events occur throughout the course of our business lives. The trick is to catch yourself and deliberately turn your attitude around to one that is more helpful to you.

Have a Plan
You do have a plan, right? Start with one year and break it down into quarters. Then break that down into months and weeks. After you do that, think about what your company (or career) will look like in 5 years! Just imagine how powerful it would be for your company if every employee had a clear understanding of the company’s goals and what activities they must deliver on each week to help get there! You now have everyone moving in the same direction.

Understand your Numbers and Manage Them
Many business owners do not understand the most important numbers of their business, their bottom line. Are you selling at a profit? Is your spending within your means? Do you even know what you are spending your hard earned dollars on? In challenging times it helps to get proactive and creative. Is your landlord open to negotiating the lease on your building? Is your credit card interest rate climbing? Any early payment discounts offered from your vendors that you should be using? Are you paying for overtime because of poor time or project management?

Marketing with Purpose
There are two targets for your marketing efforts: one is focused on getting new leads or prospects, and the other on retention of your existing clients. Far too many business owners focus 98% of their time and resources on pulling in new customers.
Considering the fact that it’s six times more expensive to get new clients, shouldn’t we spend considerable time and effort on keeping the ones who already like us, trust us, and buy from us? The answer is a resounding yes! When you are ready to pursue new business, make sure you have a great system in place to track every lead that comes into your company.
Your marketing budget could be better focused when you have the data to know which marketing strategies are successfully feeding new business your way and what is keeping your customers with you.

Have a Sales Process
What is the sales process you are using? ‘Winging it’ is not an option when you are in front of a prospect. Find out what their business pain is and then figure out how you are going to solve it. Track sales activity and the results. Take the action you need to keep you and your sales people focused and producing the results you expect and must have to support your business.

Take Care of Your Customers
Now more than ever, you must delight and amaze your customers. If your customers aren’t saying WOW after an experience with your company, you aren’t there yet!

Be a Continuous Learner
Many professions require ongoing training and education. Make it your priority to read, attend seminars and workshops. Cross-train your staff. Create a culture that values professional education. Keep up on best business practices. Learners are adapters and that is the key to business growth.

Seek Professional Advisors
Imagine the satisfaction of building a business that runs without you! Is it possible, really? Surround yourself with a team who will help you get there – your CPA, attorney, and financial advisor. And many business owners understand and are finding great value in working with a business coach – someone who will help them build the plan and keep them accountable to it. Sometimes it’s difficult to stay focused. A business coach will keep you on the path that you have designed. This can be critical to your success.

Apply these ideas to your business with each decision you make, challenge you face or success you celebrate!

1. Let’s Trust Each Other – I want us to be able to trust each other. Without that, we won’t have the solid foundation to weather all that’s ahead of us. I accept the fact that I need to earn your trust and will work to do so. Please demonstrate to me that my trust in you is well placed.

2. Be Fair – In two major areas, compensation and accountability. I expect to be fairly compensated. And maybe you do have your favorites, but we shouldn’t be able to guess who they are (especially if it isn’t me!). Just be sure to hold everyone to the same standard of accountability and I’ll be satisfied.

3. Be Dependable – As my manager, I need to know I can depend on you. For lots of things. Will you provide me with the access to info I need when I need it, or will I have to ask again and again? Will you have my back when challenged by others in the company or are you looking out for yourself regardless of what is happening? Most importantly, do you do what you say you’re going to?

4. Involve me – I’m not expecting to be involved in every decision or aspect of the company, but I try to be the expert in what my role is here. Ask me! Let’s collaborate! Will you genuinely include my opinions or thoughts in your decision making process, or will you solicit my opinion and consistently ignore it? I will catch on to what you do and react appropriately.

5. Teach me – Introduce me to new ways of thinking, learning, understanding and doing my job. I want to grow with the company and grow into a new and more challenging role. I’m not asking for expensive week-long training on theory, but the world is changing faster and faster, and each day, I should be learning something new. The problem is I think I don’t have time so you need to nudge me in the right direction. I want interesting work, and I know one way to accomplish this is to keep my perspective fresh and open to new ideas.

6. Give me feedback - Not just on my annual review, but on a regular basis. No, I don’t mean you have to pat me on the back for everything I do, I just want you to confirm I’m on the right track, or that something I accomplished really made a difference to you and the company. On the days when things don’t go so well, be tactful. Please review the problem with me in private rather than at the staff meeting. I’ll be more open to the lesson learned, and can save face if I need to.

7. Respect me and my time – I really do want to feel valued and appreciated and hope that my actions reflect that. Please read the reports you ask me to compile, respond to my emails, return my calls, and let me finish my sentence after you’ve asked me a question.

8. Share your vision – I want to be part of something bigger and like the idea that we are on the path of a well thought out plan. I want to make sure I am working on the right things and taking the action that makes a difference. I know we’ll have to adjust and adapt that plan along the way, but making sure we understand where the company is going will build the loyalty and teamwork we need to get there.

9. Resist Micromanaging – Give me the result you are looking for, get agreement from me for what the “deliverables” and timetable need to be, and then let me do it!

10. Be real – I know you are busy, may feel stressed, and have to deal with many things that I don’t. But once in a while, the real you is great to see.

Business owners want to start strong in 2011 and here’s how employees can make a difference:

Top 10 Boss Messages for Employees in 2011 (and in 2012 and…)

1. Please be on time – When arriving to work and to meetings. I know you have many things to take care of in the morning and things feel kind of crazy and overscheduled during the day, but we count on you to be on time.
2. Be dependable and be prepared – I’ve hired you in this role because everything I know about you so far says you can do it. Give me evidence every day that I made the right decision.
3. Consider my responsibilities - Maybe you think I change things for change’s sake. I don’t. I’m working hard to keep our organization successful to protect our jobs. My responsibilities include being aware of what’s happening in our industry and sometimes that means we have to change the way we do things. Remember, it affects me too!
4. Take care of your personal business on your personal time – That means take or make a personal call only when it is absolutely necessary. And please, no posting your Facebook status, tweeting or texting during the day. Stay off EBay and surf the internet when you get home. We need, expect, pay for and deserve your full attention and dedication while you are here.
5. Be enthused! – I want you to love what you do and be the best at it. Remember it’s always ok to ask for help. If you need training or some other resource to be more effective, please let me know! Will you be willing to learn on your own sometimes? I can’t promise I can always give you exactly what you need, but telling a co-worker instead of me won’t get you very far. And we’ll both get frustrated otherwise.
6. Be a leader to those around you – I’m not asking you to take charge all the time (unless you want to!), but be a positive force on your team and help keep everyone moving in the same direction. When you are encouraging to others, it creates a better environment for all of us.
7. Listen – To each other, to our customers, to our vendors and suppliers, and to me. We all have ideas, comments, opinions and thoughts about this business. Let’s stop and really listen to each other. I promise to do the same.
8. Dress the part – pay attention to what’s appropriate for our work environment. Please don’t make me have to bring this to your attention. But I will.
9. Take responsibility – for the good and the bad. Share your successful results and we’ll celebrate. Skip the blame game when things don’t go so well. Most everything can be corrected. Do what you say you are going to do within the time frame you gave me. You are part of our culture of accountability.
10. Understand I do value you – your contribution makes a difference.

And what do employees want to tell the boss? That list later! What do you think?

“Wait? Wait for what?” asks George Bailey. One of the greatest conversations about taking action takes place between Mr. Potter and George Bailey in It’s a Wonderful Life. Frank Capra. James Stewart. 1946. George passionately asks Mr. Potter what people should be waiting for when he suggests to George they should be waiting longer before building a home. Makes you think doesn’t it? Waiting for the perfect time. How often do we get caught in the trap of waiting for the “perfect time” to: revise our business plans, attend a networking event, launch a new idea, hire or fire an employee, make a change in our personal life, read a book or ask for a referral? Perhaps the “perfect time” is another myth to add to my list – just like ‘time management’ is a myth! Both are about managing events and actions to bring about the results you want.

Put first things first. No, I don’t mean putting together another to do list, but rather, determine your priorities and actions based on your purpose, value and focus. This is the time of year to reflect back on last year and use that information to shape what you want this year to be. Take the time to write down your goals and objectives for 201. And no, having them “in your head” is not the same thing as writing it down. Right now is the perfect time! Send me a note letting me know when you’ve completed this.

When we keep learning, we keep growing. Sometimes, as business owners or executives, we think there are some ideas that are ‘all set’. And we never revisit the belief to see if it still works. To grow as leaders, we may need to consider ‘unlearning’ a few of those things. Here are a few leadership thoughts to get over that I’ve adapted from Stephen Wiehe, Sciquest:

1. Leadership is a process. Leadership is a behavior, not a process. We lead people and manage their activities. A process implies a routine set of repeatable steps, but true leaders continually lead others by what they do in any particular circumstance —not by what they say. Stop worrying about choosing exactly the right words, and think about how you act. Everyone’s watching.

2. A leader needs to always be ready with the answer. Better to be ready with a great question and be far more productive. Questions allow for clarification. Asking for input doesn’t make you weak – it gets you closer to what you need to know!

3. Great ideas come out of debate and conflict. Here’s my take on this – healthy conflict is a myth. Conflict creates situations where people take ‘sides’ or ‘positions’ and then all communication stops. Asking questions will drive more positive interaction than having to protect your ‘turf’. Asking questions gets you closer to finding out what you need to know, remember?

4. A leader needs to maintain power and authority. Wrong. Give power and authority away every day. Isn’t this the most liberating news you’ve heard today? One way to give away authority is to ask for feedback (here’s the asking questions idea again). If you as a leader are willing to receive that feedback, you’re teaching others how to receive it. Remember actions speak louder than words. (Everybody is still watching!)

5. A leader mandates change. Only in a crisis – but at all other times, it’s a slow, process of gaining buy in by asking questions, allowing questions to be asked, and dealing with that change openly and honestly. Let people understand the ‘why’ behind the change and then get out of their way while they implement it.

Simply start by ‘unlearning’ today!

Business management by the numbers. As a business owner, your company’s numbers are talking to you everyday. Are you listening? I know, you are probably going to tell me you are too busy to fuss over ‘the numbers’. And you might also tell me that if you are staying ‘busy’ then the numbers will take care of themselves. Really? Your business success is all about paying attention to and acting on relevant numbers. But are you paying attention to the right numbers? I’m not talking about cash flow or your P&L (that’s another day!). Today is paying attention to the basic numbers of your daily activity. How do you track that? Your ability to select and focus on improving them is the key to your success.

Here are some questions to ask yourself:

1. List 3 ways that you generate prospects – how could you generate more? Once you find your prospect, what percentage convert to becoming clients?

2. What is your sales process (you do have a process, right?)? How long is your sales cycle?

3. What is the average dollar amount of your sale?

4. How many prospects do you have in your ‘pipeline’ today?

The answers to these questions help you to forecast your sales each month. The more accurate your answers, the more accurate your forecast will be.

You may tell me this is fairly elementary stuff. But would you really be surprised to know that many business owners never take the time to go through a process like this?

Have you done this recently? Take the time today and let me know what you found out!

Ever wonder why some businesses continue to grow and seem untouched regardless of the economy? In fact, I bet you know of a few business owners who have consistent bottom-line improvement, regardless of the market. What do they have that you don’t? Nothing. They simply follow a few key principles consistently. If you’ll consider doing the same, you can begin outperforming your competition immediately. Are you ready?

Keep a Positive Mindset

There are dozens, if not hundreds, of books and audio CDs on the subject of the importance of keeping your attitude and mindset positive. Think from the end. What do you want? What steps do you need to get there? Focus on the action – you have to do a bit more than just keeping positive thoughts. The action brings forward motion. You may be wondering how you keep a great attitude all the time? Frankly, you can’t. We all have upsetting or distracting events occur throughout our day. The trick is to catch yourself and turn your attitude around.

Have a Plan

You do have a plan, right? Start with one year and break it down into quarters. Then break that down into months and weeks. After you do that, think about what your company will look like in 5 years! Just imagine how powerful it would be for your company if every employee had a clear understanding of the company’s goals and what activities they must deliver on each week to help get there!

Understand your Numbers and Manage Them

In my experience, many business owners do not understand the most important numbers of their business, their bottom line. Are you selling at a profit? Is your spending within your means? Do you even know what you are spending your hard earned dollars on? In challenging times it helps to get proactive and creative. Is your landlord open to negotiating the lease on your building? Is your credit card interest rate climbing? Any early payment discounts offered from your vendors that you should be using? Are you paying for overtime because of poor time or project management?

Market with Purpose

There are two targets for your marketing efforts: one is focused on getting new leads or prospects, and the other on retention of your existing clients. Far too many business owners focus 98% of their time and resources on pulling in new customers. Considering the fact that it’s six times more expensive to get new clients, shouldn’t we spend considerable time and effort on keeping the ones who already know us, like us, trust us, and buy from us? The answer is a resounding yes! When you are ready to pursue new business, make sure you have a great system in place to track every lead that comes into your company. Your marketing budget could be better focused when you have the data to know which marketing strategies are successfully feeding new business your way.

Have a Sales Process

What is your sales process? ‘Winging it’ is not an option when you are in front of a prospect. Find out what their business pain is and then solve it. Track sales activity and the results. Take the action you need to keep your sales people focused and producing the results you expect.

Take Care of Your Customers

Now more than ever, you must delight and amaze your customers. If your customers aren’t saying WOW after an experience with your company, you aren’t there yet!

Be a Continuous Learner

Many professions require ongoing training and education. Make it your priority to read, attend seminars and workshops. Cross-train your staff. Create a culture that values professional education.

Seek Professional Advisors

Imagine the satisfaction of building a business that runs without you! Is it possible, really? Surround yourself with a team who will help you get there – your CPA, attorney, financial and advisor. And lastly, many business owners understand the value of having a business coach – someone who will help them build the plan and keep them accountable to it. It’s difficult to stay focused. The business coach will keep you on the path that you’ve designed. This is critical for your success.

Apply these ideas to your business with each decision you make, challenge you face or success you celebrate!

It’s About Time!

The big question in your business life is this – “What can you and only you do in your business that if done well will make a real difference?” This is a great question to ask yourself when you want to improve your overall effectiveness. The next question to ask is what are your highest value activities? Again, it’s about spending time on the things that matter most, not items that live on your ‘to do’ list. Rather than making a ‘to do’ list, consider making a ‘what matters most list’. Expect changes in how you look at what you think you have to do when evaluated this way. A final question to ask is what is the most valuable use of my time right now? This keeps your priorities in check and the low value activities off your list.

Answering these questions keeps you moving toward your goals and objectives because they help keep you in control of what you do.