Monthly Archives: December 2013

Professional Development , , Leave a comment

Self -Discipline, the Secret of Your Success

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How do you build a successful life and business? Good fortune helps tremendously,  but it is possible to if not actually create your own good luck,  then create the drive needed to build the best life possible.  Business coach and strategy consultant Dan Kennedy advises that we develop self-discipline.  To help our understanding of the concept, he breaks self-discipline into four parts:

Will power

Will power is the core of self-discipline.  It’s like a muscle and if we want to develop that muscle and ascend to self-discipline,  then practice is required.  As with running or weight lifting,  start small and gradually build to more challenging work.   Making yourself vacuum and do laundry could be a good place to start,  if those tasks bring out avoidance behavior in you.   Speaking of exercise,  scheduling and completing a certain number of weekly workouts is another way to simultaneously build our will power and physical muscles.   Set up a rewards program when important milestones are achieved.  Massages and facials are nice relaxing gifts to yourself.

Awareness

Value and respect time and boundaries,  your own and that of others.  Cease immediately selfish and controlling behavior.  Appreciate that everyone has responsibilities that very likely must be completed within a certain time frame.  Calculate  in realistic terms how long it will take you to travel from point A to point B,  for example,  and give yourself the appropriate time to reach your destination at the appointed hour.  The pay-off to your reputation will be significant.

Decision

Kennedy notes that all achievement is fueled by decision-making.  If we acknowledge our priorities and then decide to make those priorities a reality,  then we will do what is necessary to ensure their creation and sustainability.   Self-discipline is integral to decision-making.  Refusing to exercise self-discipline has deleterious consequences.

Should we decide to not decide,  we table decision-making indefinitely and never become a responsible and productive adult.  If we are paralyzed by the process of decision-making,  we become trapped in a vortex and squander all opportunities to utilize or attract good fortune.  Such an individual becomes a wastrel.  Decision-making is goal setting and all self-disciplined individuals identify and pursue goals.

Action

Kennedy points to three kinds of action,  which I interpret as an arc: planning,  implementation and completion.  Once the decision is made,  a plan is then created,  to give yourself a road map and timetable to bring your goal into reality.  In business,  one would think strategy and action planning.  Next,   implement your plan and see it through to completion,  making any necessary adjustments along the way.

This is the point at which self-discipline becomes essential.   As we all know,   many initiatives are begun with great enthusiasm,  but not all are completed.  Give your self-discipline a fighting chance and set SMART goals for yourself:  specific,  measurable,  attainable,  relevant and timely and then create a strategy and action plans that make achievement of your goals a likely possibility.  If you anticipate obstacles,   build into your strategy a way to overcome them.

Self-discipline is the foundation of a successful life and it brings many rewards,  not the least of which is integrity and authenticity.  I would consider those attributes to be the most desirable personal brand.

Thanks for reading and Happy New Year,

Kim

Professional Development , , , , , Leave a comment

Eight Leadership Styles. Which One Is Yours?

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When assuming a leadership role,   one does what is required in that position at the time.   There is no road-map because leaders must respond to events as they occur,   as they simultaneously champion projects developed by members of their team,   push through selected personal initiatives and follow through with worthy projects that started before their regime.   Most of all a leader must be versatile,   possessed of good judgment and more than a little lucky.

Nevertheless,  we all have our strengths.   Some of us are super strategists,  or change agents.  Others are great with process and operations,  we intuitively know how to get things done efficiently.  Still others are master communicators: deal-makers,  negotiators or coaches.

How does one rise to leadership,  take the reins and succeed when certain key projects call for talents outside of the natural skill set? Good judgment will encourage the leader to recognize what is beyond his/her expertise and delegate such tasks to better qualified team members.   Further,  the leader is advised to acknowledge team members who step up,  because recognition builds loyalty and the productive can-do spirit of a high-functioning team.

Leadership development specialist Manfred F.R. Kets de Vries,   author of “The Hedgehog Effect: The Secrets of Building High Performance Teams” (2011),   has identified eight leadership competency archetypes for us to ponder.   Do you recognize yourself in one?

The BUILDER approaches leadership as an entrepreneurial activity.  This leader longs to create a tangible legacy.

The CHANGE AGENT loves to ride in on a white horse and clean up a mess.   Re-engineering is the preferred activity.

The COACH derives great personal satisfaction from talent development and knows how to recognize the strengths of team members and get the best out them.

The COMMUNICATOR,  like former presidents Bill Clinton and Ronald Reagan,  loves being on stage and knows how to influence people.

The INNOVATOR is able to sort through difficult problems and devise creative,  yet practical solutions.

The NEGOTIATOR is highly gifted at recognizing,  selling and bringing to the organization lucrative new business opportunities.

The PROCESSOR is an operations expert who will make the organization run like a well-oiled machine.  This leader will institute systems that support the organization’s objectives.

The STRATEGIST has the vision to recognize which goals and strategies the organization would be wise to pursue to ensure its future growth and sustainability.

Merry Christmas and thanks for reading,

Kim

Sales , , Leave a comment

Scalable: Add A Wholesale Distributor to Your Product Sales Channels

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Are you a Freelance solopreneur who has a tangible product to sell,  one that you feel is ready to get into the hands of many more customers? You have an efficient and reliable means of production worked out:  you may manufacture it yourself,  or have a great team working for you,  or you have a reliable wholesale source who sells to you at a competitive price.  You fulfill requests for product on time and seldom back order.

The product is sold on your company website and is also available in a network of local stores.  Sales are brisk and there are lots of reorders.  You come to see that without wider distribution,  you are losing money.  You conclude that it is time to look for a third sales channel,  a wholesale distributor .

Congratulations! Selling your product through a wholesale distributor is a big step,  a real validation of your business acumen.  Be a real pro and take a minute to understand what will persuade a wholesale distributor to include your product in their mix.

A distributor is a middle man who makes money from products he sells to a wide range of retail outlets,  so he will take on only those products that he expects to sell quickly.   Show that you are a good risk by demonstrating healthy product sales both from your website and at retail outlets.  Be prepared to sell your product to the distributor for less money than you sell to retailers.  The distributor needs to see a certain profit margin before he takes you on.  Moreover,  the distributor must buy inventory and so must invest in much more product than a typical retail establishment.

The advantage for you is that your product will be much more widely available.  Another advantage for you is that many more retailers will stock your product when it is available through a wholesale distributor,  because they prefer to purchase a wide array of merchandise from a limited number of vendors.  It is too time-consuming to deal directly with many small vendors,  interacting with numerous salespeople and invoicing each separately.

Distributors also prefer business owners who have multiple products,  because it is favorable to their administrative costs.  It is easier to sell several products from one company,  so the more products you manufacture for sale,  the more attractive you are to a wholesale distributor.

When your sales are strong and the time you spend selling individually to retail outlets becomes unwieldy,  it is time to contact wholesale distributors to see if you are considered a good prospect for them.  Ask the retail establishments to whom you sell who you should contact and ask for a reference.

Thanks for reading,

Kim

Survival Strategies , , Leave a comment

The Unwritten Rules of the Business Christmas Party

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It’s countdown to Christmas and you may have already been to two or three parties by the time this post is published.  I will have been to three and one was at a business association.  I had a nice time.  I met a few people,  found out a few things about what is on the horizon for the association and got to know the president a little better.

In other words,  the Christmas party went as planned.  When attending a business Christmas party,  plan is the operative word.  Whether the party is hosted by your company,  a client,  or a business or professional association,  relax and enjoy the event,  but remember that you are at work.  Focus less on revelry and more on building or renewing relationships.

Always remember that you are being watched and evaluated,  because Christmas parties have a long-standing reputation of providing a stage for outrageous behavior.  Assume that those in attendance are waiting for someone to obviously over-indulge on alcohol,  or maybe slip out of the door with someone other than her husband.  Walk in the door making a good impression by following the requested dress code.  When none is specified,  wear whatever business attire means in that organization.

Create an agenda for the business Christmas parties you attend and polish your elevator pitch.  Besides chatting with your contact at the organization  (or your boss,  if you are an employee),  make a list of two or three other presumptive party guests that you would like to speak with,  whether or not you’ve met them,  and questions you’d like to ask.  However,  do not try to consummate a deal at the party.  Aim to set up a time to follow-up at a later date.

Because alcohol is inevitably involved,  it’s best to implement your action plan while everyone is relatively sober.  Arrive early.  Get your introductions made and have important conversations as early as possible.  Have maximum one alcoholic beverage and then drink mineral water with a slice of lime or lemon,  so that it looks as if you are having a cocktail,  to prevent yourself from drinking too much.  Leave sort of early.

Along with your must-meet list,  extend yourself and meet others.  When you see someone standing alone,  walk up and introduce yourself.  Start a conversation by asking if they come to this party regularly.  Meeting and greeting are the essence of every party.

When Christmas party invitations arrive,  recognize them for their potential networking value.  Think of a business Christmas party like a conference that doesn’t have presentations,  where you can meet or maybe reconnect with colleagues,  meet a new strategic partner or clients.  Yet do not make the mistake of talking too much business at the party.  Career coach Kathleen Brady,  owner of Brady and Associates Career Planners,  advises that  at the party  “You’re trying to create on-ramps to build new relationships.”  Now go have a good time!

Thanks for reading,

Kim

Administrative , , Leave a comment

How to Delegate Successfully

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Christmas season notwithstanding,  I am busy this December and it feels so good! Catch my act on Wednesday December 4 when Dalya Massachi of  “Writing Wednesdays” and I talk about the benefits derived when nonprofit leaders write a business plan for their organization.  3:00 PM EST,  2:00 PM CST,  1:00 PM MST,  12:00 PM PST FREE! Register at http://writingtomakeadifference.com/writing-wednesdays

Readers in the Boston area may want to direct clients who are leaders at nonprofit organizations to get essential how-to information on business plan writing at my popular workshop “Become Your Own Boss: Effective Business Plan Writing”.  We’ll meet on three consecutive Wednesdays,  December 4, 11 & 18  5:30 PM – 7:30 PM at Boston Center for Adult Education 122 Arlington Street Boston MA 02116.  Register at http://bit.ly/1bP4uw9 or call 617.267.4430 class ID #10190.

Busy people must learn how to delegate if they intend to get things done.   Often,  there are not enough hours in the day to allow one person to do everything.  Productive people come to know that delegating is necessary if we are to move forward.  Productive people also know what can and should be delegated and how to accomplish that effectively.  What is outsourcing but delegating to a skilled professional tasks that we ourselves cannot complete,   from website design to public relations to cleaning our homes to preparing the food for a cocktail party?

It can be good for business profitability and healthy for organizational development to share the workload.  When time and energy are scarce,  or when we ourselves do not possess the required expertise,  it makes sense from both a time management and quality control standpoint to delegate that project and remove it from our plate and focus on items that only we can do.  If we hoard all the important responsibilities,  it can lead to real or perceived controlling behavior and that is counter-productive.  How to delegate successfully is an important skill and it begins with setting priorities.

Delegate responsibilities and not just tasks  Rather than merely assigning work to someone,  which limits the sense of ownership,  promote buy-in to the project at hand and loyalty to you and delegate the responsibility for leading an element of the project.  Allow that person to shine and display creativity,  analytical ability,  systems and operations talents,  trouble-shooting prowess and whatever else it takes to successfully manage that portion of the project.  You keep an eye on the big picture and do what is necessary to give that person the required resources and authority to do his/her part.

Accept that your way is not the only way   This could lead to some pleasant surprises and a better end result than you envisioned.  Everyone has a unique way of viewing and tackling a responsibility and you are advised to respect those different perspectives and approaches and trust the person to whom you’ve delegated.  Often, there is more than one road to the right solution.  Focus on achieving the desired outcome within the desired time frame.  Never micromanage.

Give clear instructions and sufficient information   Explain the big picture of the project and how the delegated element fits in.  Provide project specifications for what will be delegated and confirm that the person understands.  Make sure that the person has the authority to do what is necessary,  along with the budget, whatever staffing or other resources.  Be clear about milestones and the project due date.  Be available for help,  if necessary.

Teach yourself how to recognize when to delegate a project or elements thereof by first setting goals and objectives for your business,  backed by strategies and action plans that will ensure their realization.  Be candid about your strengths,  weaknesses and the time line.   Outsource/ delegate those responsibilities that you cannot do and focus on the end result.  Build a solid team that is ready to help you achieve your goals.

Thanks for reading,

Kim