Business leaders around the world each have their own secrets to business success – traits and skills they hold as being of the highest importance when it comes to running a successful business. Most of these can be categorized under:

T.L.C – Time, Leadership and Communication

I’m going to address each of those characteristics in a three-part series – starting with time. In order to be a successful business owner, or even a successful employee, you have to be able to juggle multiple projects, tasks and clients. Simply, you have to be a great time manager.

Time management is absolutely vital because it’s the only resource we have that’s genuinely limited. We can train to acquire new skills, we can make more money, we can gain more experience – but when the clock strikes 12, that’s it. Time is the scarcest resource and, unless it’s managed, nothing else can be managed properly.

Here’s the master key to effective time management:

• Do not major in minor things.
• To be a great time manager, learn to separate major projects from minor ones.
• Do not focus on minor problems.
• Don’t stress over minor issues.
• Do not dedicate time to minor tasks.

It’s important to learn to not confuse movement from achievement and activity for results. To make good use of your time, you have to identify what’s most important and then give it all you’ve got. And sometimes you have to trust others to handle your smaller tasks.  Too often we as owners, managers and executives get caught up in the clutter of the day-to-day and forget to focus on the 20% of our activities that generate 80% of the return on our investment of time, energy and resources. If focusing on the big issues in your business is difficult or if delegating smaller tasks seems impossible– We can help.

--- END POST ---

Every business owner has their own tricks of the trade for business success, but the essential skills they all need to master fall under:

T.L.C. – Time, Leadership and Communication

In my last piece, I looked at the challenges and solutions involved with time management We talked about the importance of identifying minor tasks and trusting others to help you manage small jobs. This week, we’re going to talk about what it means to be a leader.

Business leadership is more than being able to effectively manage your staff and the growth of your business. A true leader’s fundamental role has been – and shall continue to remain – making people capable of joint performance through common goals and values. The key to being a great leader is not to get people to do what you want them to do. It’s about getting those people to WANT to do what you want them to do.

Some of the best ways to inspire that personal growth in your team is to:

• Make them feel appreciated
• Learn to praise in public.
• Include your staff in the decision making process.
• Develop a set of common goals, common values and clear objectives.

Business Leadership’s Role Today

It’s critically important today more then ever to let our employees know that they are appreciated and valued for their work. As leaders we should learn to praise often and in public and, if necessary, reprimand only in private.

By including your staff in the decision making process they will feel vested in the company and know they are valued. When individuals are a part of the decision making process for your business they will have buy-in to the success of what ever it is you are trying to achieve. As leaders we should be developing a set of common goals, shared values, clear and unifying objectives to which everyone in the organization can commit.

When your employees and team members feel like they are part of the success of your business and that their decisions make a positive impact on the company, they are more likely to put their best into their work every day. If you are a larger organization, it’s also important to inspire your managers to be great leaders. If that’s an area where your team could use a little help, contact me to discuss The Growth Coach’s strategic manager program.
If you are struggling in any of these areas or would like to take your company to the next level, we can help you. We have a proven process to help your company grow.

garyfurr@thegrowthcoachportland.com

503-312-3145

--- END POST ---

Over the course of the last two Growth Coach articles, we’ve been looking at the T.L.C.s of successful business management – Time, Leadership and Communication.

We’ve talked about how time is a truly limited resource and how successful business leaders delegate minor and de-prioritize minor tasks. We’ve also addressed that great leaders focus on ensuring that team members want to do what needs to be done to make a company more successful. The final element of TLC is Communication.

3 Speaking Traits of Great Communicators

Speak to Express Not to Impress

Being a great communicator is really like being an artist and the key is speak with the purpose of expressing instead of impressing. We all know the individuals that just love to talk. They speak in terms which are often vague and sometimes meaningless. You can ask these people for the time of the day and suddenly you’re in the middle of a 30 minute lecture on how to build a watch. Speaking to impress builds gaps, speaking to express builds bridges.

Speak From Experience

Additionally, great communicators make sure they have earned the right to speak on any particular subject matter. It’s difficult to consul someone on a broken heart if you’ve never had one. It’s difficult to offer business guidance if you have never actually managed a business.

Speak With Passion and Care

When communicating with your staff, subordinates, superiors, etc., remember that communication does not begin with being understood, but with understanding others. Properly chosen words are a powerful tool and, if you can communicate those words with true passion, that’s more powerful still. Your audience may not remember everything you said, but they will remember how you made them feel.

It has been said that the real art of communication is not only to say the right thing in the right place, but to leave unsaid the wrong thing at the tempting moment. Always make sure the things you say are said the way you mean them to be heard.

Learn to Be a Great Communicator

Not everyone is born a great communicator, but everyone can learn to be one. If you’re having trouble being the communicator of your business, consider one of our group workshops.

Gary Furr, MBA
503-312-3145

--- END POST ---

       The Essential Steps to Business Success – Step One

The Essential Steps to Business Success: I don’t know a single business owner who doesn’t want to grow their business, take it to the next level, and make more money. That’s what being a business owner is all about, but sometimes we get tripped up on the how to. In the next few blog posts I will outline the nine steps to developing a successful business, because each step is critical to growth and your bottom line.

STEP ONE: Know What Business You Are In

This sounds basic, but it is the foundation upon which your business is built. Take some time to answer the following questions about your business.

• What business are you really in? Dig deep to find the answer. Keep asking the question and drill down to find out what business you are really in. Often it is not the first answer that comes to mind. Think about it from the perspective or your customers/clients.
• What do you do for your customer/client? Too often business owners focus on the mechanics of what they do, not the benefit and results of what they do. People are not interested in the mechanics; they want to know what benefits and results they will receive from doing business with you.
• Where do you see your business in five years, three years, and one year from now? Clarity of direction is one of the most important aspects of a successful business. If you don’t know where you are going, you can’t chart a course to get there—and you won’t know when you’ve arrived.
• If your prospective customers or clients are not buying from you, then who are they buying from and why? What does your competition do or provide that you do not? Know thy competition.
• What are the most important reasons your customers or clients buy from you? You need to know why your customers do business with you. If you don’t know, ask them.
• How is your product or service positioned in the marketplace? High-end, mid-tier, low-end, or price leader? Where do you stand in the marketplace?
• Do you and you and your employees know your vision, mission, and values? You can’t maximize performance unless everyone is on the same page.

Need help understanding what business you are in and how to maximize your results? Give us a call. We can dramatically improve your individual and organizational effectiveness, maximizing your bottom line revenue. http://www.garyfurr@garyfurrconsulting.com

 

--- END POST ---

Benefits and results is the language of customer orientation. Too often business owners focus on the mechanics of what they do, not the benefit and results of what they do. Potential customers/clients are not interested in the mechanics; they want to know what benefits and results they will receive from doing business with you, which leads us to the second step in essential business success.

Step Two: Know Your Customer

• It is critical to understand your customers—in depth. You need to know about their likes and dislikes, and you uncover those by asking questions with the intent to understand. It’s about them, not you. It is common to listen with the intent to reply, not understand. But understanding is what will allow you to give your customers what they really want. You can ask your customers what motivated them to start their business, what they are struggling with, and how you can help them to be more successful. What would an entirely different way of meeting the needs of your customer look like?
• Create a customer-focused culture within your organization. That culture is all about what the customer thinks and what they want as well as the value you provide. Do your team members understand the value they provide the customer? Can they articulate it? Do they believe it?
• The commitment to know and understand the customer must permeate your organization from the top to the bottom. How do you align your organization to provide maximum value to your customers?
• Develop an open communication channel with your customers and communicate with them often. You cannot over-communicate as long as you are bringing value to them with every contact. Revenue growth is about effective communication.
• Develop yearly surveys, audits, and questionnaires to better understand your customers. I have heard owners express that they did not want to know this information because they were afraid of what they might hear. Wouldn’t it be better to know how your customers are feeling so you can make corrections and adjustments rather than finding out they were unhappy after they have fired you as a vendor or supplier? I think so! Ask your customers questions like these: What is your favorite thing about doing business with us? How has business improved as a result of working with us? Companies that ask these questions have increased customer loyalty and increased sales.
• Your organization should be intently focused on its customers. Knowing your customer is what allows you to deliver what they truly want and to continue to innovate and grow your business. Your ability to focus your value and align your employees will create greater rewards for your organization and improve your customer relationships. It takes constant vigilance and intentional focus on the customer. Remember, it’s about them, not you.

If you missed Step One of Business Success, Know What Business You Are In, click here: https://garyfurrgtp.garyfurrconsulting.com/the-essential-steps-to-business-success-step-one/.

If you want to dramatically improve your success in business, take your business to the next level, and make more money, contact us.

--- END POST ---

How do you compete with the guy across the street or in the next town over? What makes a customer seek you out as opposed to the competition? Most likely your business has a lot of competition in the same space. Standing out in the crowd can be difficult and you don’t want to be the low cost supplier just to get business. That is a fast road to the bottom. We must differentiate ourselves from the competition, we must stand out or we will be ignored. Hence the third step in The Essential Steps to Business Success.

Step 3: Differentiate Your Business

In Seth Godin’s book Purple Cow he describes driving through the French countryside with his family and how enchanted they were by the storybook-like cows grazing on picturesque pastures beside the highway. They drove for some time marveling at how beautiful everything was. But then in about twenty minutes, they started ignoring the cows. The new cows were just like the old cows, and what was once amazing was now common. In fact, they were worse than common—they were boring. But then he thought, a purple cow, now that would be interesting. The essence of the purple cow is that it would be remarkable and stand out in the herd. It would get their attention.

Due to the enormous volume of stimulus bombarding each of us every day, we have become skilled at filtering out whatever is common or boring. Our businesses are subject to the same phenomenon, and to be successful we can’t just be “better,” we must also be different:

• Do you know your unique value proposition? Or are you jumping on the bandwagon of fads (the road to failure)? If you think you should be like the guy down the street, you will never stand out in a crowd. You’ll just be one of the herd.
• What are your vision and values for the organization and do you have the right people engaged to help take your business to the next level? Often the primary difference between you and the competition is you and your management team. Your vision and values give your organization personality and character and can make the critical difference.
• Where is your focus? Is it on the customer? Is that true for your entire staff? When your staff is customer focused, continually anticipating and meeting customer needs, you are collectively creating a business that stands apart.
• How can you provide more value than anyone else in your industry? You can’t do it without understanding who you are, what business you are really in, and what your customers want. What dramatic and quantifiable value will you create for your customers? What is your competitive advantage?

How will you paint yourself purple to stand out from the herd? If you need help differentiating your business from the competition, call us. We can help you find your true color, making a dramatic improvement in your success and bottom line revenue.  garyfurr@garyfurrconsulting.com

--- END POST ---

In today’s business environment, talent alone will not ensure success. You must also learn the skills that help create a successful business, and essential to that undertaking is knowing your competition. Do Olympic athletes train in a vacuum, oblivious to what they will face when the competition begins? No. They exploit their talents, train hard, and know the competition they’re up against.

Step 4: Know Your Competition

Chances are good that you’re not the only business of your type marketing in the area. If you have not differentiated your business, you will not stand out in the crowd, and you can’t differentiate without understanding what your competitors are bringing to the table.

Competitive research needs to start at the top of your organization. Leadership needs to be involved to signal to everyone that this is a priority. The good news is that it doesn’t have to be expensive or difficult to conduct. Ask your employees about the competition. Shop the competition. Some basic questions and first-hand experience can provide a lot of information.

Next, conduct a SWOT analysis. Many business owners have heard of a SWOT analysis, but few have conducted them. Have you conducted an analysis of your business to determine your strengths, weaknesses, opportunities, and threats (SWOT)? If not, now is the time.

Look at a SWOT analysis as an opportunity to grow your business and excel beyond your competitors. The comparison of how you stack up against your competition is where the value lies. Ask yourself these questions:

• How can we use our strengths to excel beyond the competition?
• Where can we improve on our weaknesses so that they are no longer a weakness when compared to the competition?
• How can we capitalize on our competitors’ weaknesses?
• What opportunities exist within these strengths and weaknesses?
• What are the threats to our business from inside and outside our organization?
• How can we eliminate the threats to your business?
• Does our competition even consider themselves to be competition?

I was working with an organization recently and by conducting a SWOT analysis we discovered that what they considered their strengths were actually on par with the competition, so, in fact, they did not have the distinct advantages they thought they did.

Don’t fool yourself into thinking you are better than your competition. Know where you stack up. Do the research and use the results to strengthen your game. Knowing the competition will only help to make your business stronger and improve your bottom line.

--- END POST ---

As we continue the discussion of the keys to business success, no business can survive without excellent customers. At the same time, no business can be all things to all customers. Success demands that you know who your ideal customers are. Here are some critical questions to ask yourself:

 

• Who is your current customer and who is your most ideal customer?
• Are they one in the same?
• Are you serving that market?
• Are you providing more value then your competition?

Success always comes down to the customer, which is why focusing on the customer is the next step in business success.

Step Five—Focus on the Customer

You are in business for one purpose only: To supply something that your customers perceive has significant value. Most likely there are other businesses in your same space competing for the same customers, so you out-perform and out-sell your competition by doing the following:

• Knowing what your customers/clients want.
• Providing massive value to your customers.
• Remembering that you get paid for results and meeting customer needs—not for effort or good intentions.
• Taking responsibility for the entire value chain.

How do you know if you have met the needs of your customer or not? You have to ask. You must not only discover if you have met their needs, but if you have done so in a timely, efficient, and hassle-free manner.

You can’t be all things to all customers, but all customers are looking for suppliers who make it easy to do business with them. All customers are also looking for you to be honest and to do the right thing—always. Make it fun to work with you and that’s the cherry on top.

If it sounds like a tall order, it is. But focusing on the customer like this is how you will stand out from the competition. How do you accomplish all of this? By first understanding who your ideal customer is and what they want. Your assumptions aren’t enough here; you have to do the research to find out.

Initial research isn’t enough either. Ongoing communication with existing customers is what keeps profit growing. You have to uncover whether you are indeed meeting customer needs by supplying what they want, when they want it, and in the condition they expect to receive it. The only way to know this information is to communicate with your customers regularly and to ask the right questions.

If you want your business to grow, then quit avoiding your customers. Rather than obsessing over what products and services you have to offer, obsess over your customers.

We can help you to grow your business by leaps and bounds without capital expense. Give us a call.

--- END POST ---

Marathon runners know the fuel their bodies need to go the distance. No one attempts a long-distance run without the right energy to burn. For business owners, and their employees, that fuel is purpose—our sixth step in business success.

 

Step Six—A Higher Purpose or Cause to Believe In

Meaningful work or something to believe in is a powerful motivator for not only business owners but also the individuals they employ. We spend most of our waking hours working, so our work should be something we believe in, and something that will make a difference in our lives as well as the lives of our employees and our customers.

Human beings are wired for purpose and meaning. Once we get past Maslow’s basic needs on his hierarchy—food, clothing, shelter, and safety—we get to the need for connection and meaning. In order to have connection and meaning we need to be involved with an organization that creates an environment with common vision and purpose, or something bigger than ourselves, to believe in. Yes, individuals in our companies want to make money, but they also want to make a difference. When a business can answer this need for meaning and connection, employees win and the business wins.

What makes a business work is the why—the higher purpose and cause. Why we do what we do gives us the fuel to get through the inevitable ups and downs. It also provides fuel to our employees to persevere and compete at a higher level. Any business can work as long as everyone in the organization has the passion and intensity to keep going even in tough times. Since running a business takes tremendous energy, we need that vision of something bigger than ourselves to give us reasons and energy to scale the obstacles we face along the way.

What are your vision, mission, and values? Do they create something bigger than you and your organization to strive for? How will you make a difference?

If you are struggling with creating an empowering vision of the future, one that staff and employees can strive for, we can help you.

garyfurr@garyfurrconsulting.com

--- END POST ---