Managers change how people behave; leaders change how people think. No matter what economy we’re in or how a company is structured, the need for management and leadership will never go away. What will change are how we manage and how we lead, as well as the tools we use to perform those functions in a better and more efficient way.
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Posts Tagged ‘Communication’
The Role of Today’s Manager Includes Leadership
Smart Phone Security and The Future
When most people think of the term “computer,” an image of a cell phone does not come to mind. However, today’s smart phones (such as the iPhone, Blackberry, and Droid) are indeed computers. Not only do they have an operating system and storage capabilities, but they also have their own software applications – called “apps” for short. Once users understand that smart phones are actually mini computers, those who are charged with keeping corporate computers safe have some serious planning to do.
The Next Generation of Email Marketing
Junk mail is good mail that went to the wrong person. For email marketers, the same concept is true. What one person considers spam is the perfect message for someone else. The key is to make your email message highly relevant so recipients don’t dismiss it as junk.
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Listen To Your Documents
A new scanner can turn any document into an audio document quickly and easily. Called BookReader, it scans books, magazines, or other documents, and then employs character recognition and text-to-speech software to play it back on your computer or portable audio device with an exceptionally human-like voice.
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Fiber Optics For Your Home
As consumer electronics (including televisions, computers, audio systems, and other peripherals) become more interconnected, the amount of data being transferred over home networks is increasing dramatically, especially in the form of high resolution images and video.
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VIDEO CAN STRENGTHEN RELATIONSHIPS
A major challenge today is that many companies are going into crisis mode. Because air travel and gas costs are high, they’re using video and Web conferencing, as well as the new high-end videoconferencing called telepresence offered by Cisco and HP, to save travel money and meeting costs. However, if their only motivation is to save money on travel, rather than the more important goal of enhancing communication and collaboration throughout the enterprise, then they’re simply creating another fad. Video conferencing has evolved tremendously over the past few years, and companies need to use the technology of today to pave the path to future profits, all of which hinge on relationships.
To add fuel to the fire is the fact that rising gas prices and travel costs are not cyclical this time; they’re permanent. Major social changes are taking place worldwide in such places as China and India, and the increased global energy consumption affects everyone. In other words, fuel costs will fluctuate but will not go back to the low levels we once enjoyed.
Therefore, smart companies are changing how they think about meetings and the new video conferencing technology, and they’re realizing that it offers business something more powerful than they’ve had in the past. These companies are thinking in terms of “visual communications” rather than simply video and Web conferencing.
Visual communications heighten the bond you have with someone when you cannot see them face-to-face. It’s about adding dimension to the communication. There’s a reason why you shake someone’s hand when you meet them: The more senses you involve, the higher the connection. Those companies that can enhance their communication, both internally and externally, are the ones who can cause change faster and stay competitive longer.
Despite the current conditions of gas prices, transportation costs, and airline cuts, the need to meet, share knowledge, and develop relationships will not only continue, it will accelerate. Therefore, successful interactions will depend on your ability to master the concept of visual communications and develop guidelines that leverage both old and new tools to build trusting relationships that foster greater communication, collaboration, and community.
7 FAILURES OF BUSINESS GROWTH (PART III)
Over the last two months I have covered five of the seven failures of business growth: #1 Failure to anticipate, #2 Failure to communicate, #3 Failure to collaborate, #4 Failure to innovate, and #5 Failure to pre-solve problems.
In this issue, I’ll share the final two failures of business growth and the strategies needed to grow your business for years to come.
#6 FAILURE TO DE-COMMODITIZE
Any product or service can be de-commoditized. Unfortunately, many companies don’t take the initiative to make their product unique. They come up with something new, and make that their main product. But other people copy the product. Margins get thin. Sales slow down. And they end up competing on price. The key is to take your product and put a service wrapper around it. Here’s an example: In the electricity industry, the utility provider cannot increase prices without permission from ratepayers. To de-commoditize themselves, one electric company created what they called “digital electricity.” They told their customers, “If your company runs a lot of expensive computerized equipment and you don’t want the electricity coming into your office to ever turn off or fluctuate in current or voltage, then you need digital electricity, which will cost more.” Many big companies signed up for the more expensive service, and in the near future, homeowners will have a similar interest because they will have multiple computers streaming audio and video in their home. This electric utility took a product and wrapped a service around it so they could charge more. Look at your product or service and think of ways that you can wrap a service around it to add value. But don’t stop there. Keep adding value to it every year so you never become a commodity again.
#7 FAILURE TO DIFFERENTIATE
Over time, too many companies become just like everyone else. They don’t continue to stand out. Even though they do strategic planning, it’s usually just financial planning in disguise. True strategic planning needs to be more than numbers-based; it needs to focus on how you can differentiate your company and products from your competition instead of being and doing more of the same. So how do you differentiate? Simple…you stop doing all the failures of business growth just discussed. You start anticipating, communicating, collaborating, innovating, pre-solving problems, and de-commoditizing. Realize that you can infinitely differentiate your company if you have the courage to do the things your competition isn’t doing.
BUSINSESS SUCCESS IS ON YOUR HORIZON
A weak economy doesn’t have to limit business growth. When you know the failures to avoid and the strategies to combat them, you’ll be well on your way to creating an organization that continues to grow despite outside conditions. So learn from these failures and rethink the way you do business. It’ll pay off for years to come.
7 FAILURES OF BUSINESS GROWTH (PART II)
Last month I covered two of the seven failures of business growth: #1 Failure to anticipate, and #2 Failure to communicate.
This month I would like to share some additional insights on the failures of business growth. When you know the failures to avoid and the strategies to combat them, you’ll be well on your way to creating an organization that continues to grow despite outside conditions.
#3 FAILURE TO COLLABORATE
The majority of people tend to cooperate, which is very different from collaborating. Even though we often use the word “collaborate,” we’re really just cooperating, which is a lower level function. Cooperating means, “The pie is only so big, and to make sure we both get our fair share, I won’t get in your way if you won’t get in mine. Maybe we’ll even work together…if we have to.” Such an approach produces results but certainly not outstanding results, because it’s based on a scarcity mentality. Collaboration, on the other hand, is based on abundance. It occurs when we put our heads together and ask ourselves, “How can we create a bigger pie for everyone?” That’s the secret to getting competitors to work with you and not against you. Remember that today’s technologies allow us to collaborate in new and amazing ways. Make sure you’re using them properly.
#4 FAILURE TO INNOVATE
When asked what their last big innovation was, most companies have to go back five or ten years to cite something meaningful. Why? Because the majority of companies innovate once, come up with a great product or service, form a company around it, and then they let it ride. They don’t continue to innovate and create new products and services. Instead they spend a great deal of effort asking themselves how they can be more efficient…how they can do more with less…how they can reduce staff and overhead…how they can use technology better. Those are all good questions. However, you also want to ask yourself how you can use technology and your people to create new products and services that will increase the sales of your old products and services. The more time you devote to innovation, the more profitable and efficient you’ll ultimately be.
#5 FAILURE TO PRE-SOLVE PROBLEMS
Some people say that a problem is an opportunity in disguise. Nonsense! A problem is a problem. A problem is only an opportunity before you have it. Realize that most of the problems our customers and our company experience are predictable. In today’s world of rapid change, if you ask customers what they want and then give it to them, you’re missing the real opportunity. Why? Because your competitors are asking the same question, getting the same answer, and providing the same solution. Instead, you need to think a level higher and ask yourself and your customers, “What problems are we about to have?” Then you can develop new solutions based on the answers you receive. At that point, you can base your product development on your customer’s future problems and deliver the product or service right when the problem becomes a reality.
A WEAK ECONOMY DOES NOT HAVE TO LIMIT BUSINESS GROWTH
By implementing the strategies needed to overcome these business failures you can grow your business for years to come. Next month I will share the final two failures to avoid and the strategies to combat them.
7 FAILURES OF BUSINESS GROWTH (PART I)
If you want to truly stand out in today’s marketplace and lead your company to new heights of success, you have to work smarter and not harder. For many leaders and managers, that’s easier said than done. Despite their best intentions, they get snarled in the glaring failures that derail business growth and stagnate profits.
In order for you to avoid the most common traps that stifle business growth, you have to be aware of the top failures and know the strategies to combat them. The following will help you turn failure into success and enable your company to exceed growth projections.
#1 FAILURE TO ANTICIPATE
Most companies react to the changes that are taking place right now. They react to customers, react to the economy, and react to government legislation. Instead of merely reacting, you need to anticipate future changes and plan for them. The fact is that you can anticipate a great deal in your industry. For example, are cell phones of the future going to have a high definition screen with high definition video? Most people think so. In the future, will we have better bandwidth for both wireless and wired Internet connections? You’d be hard-pressed to find someone who says “no.” In the future, will we have more storage in our computers? Of course! Apparently you’re certain about quite a few future events. Therefore, instead of being a crisis manager and reacting to change, anticipate changes so you can drive growth from the inside out. To do that you have to spend one hour a week not thinking about the crisis of the moment, but rather thinking about the predictable opportunities that are waiting for you. Make a list of all the things you’re completely certain about. Then look at your strategies and base them around that list. Only then will you become more of an opportunity management organization.
2. FAILURE TO COMMUNICATE
There is a big difference between informing and communicating. Informing is one-way, static and seldom leads to action. Communicating is two-way, dynamic and usually leads to action. Ironically, we have all these fantastic communication age tools, but we’re using them in an information age way. Realize that the information age is not our friend; it’s our enemy in disguise. Ask yourself, ‘In our organization, are we better at informing than communicating?” For most people, the answer is “yes”. And if you can’t communicate internally with your staff, how can you communicate externally to customers and shareholders? This is not to say that you should stop informing people. However, you do need to tap into the true power of communication. When you focus on maximizing two-way communications, you can create a communication-age organization and accelerate positive change.
JUMP-START YOUR COMPANY’S SUCCESS
As the word “recession” appears more frequently on the news, avoiding costly strategic mistakes is becoming more crucial to long term growth. Next month, I will share additional failures to avoid and the strategies to combat them that will pay off for years to come.
