Author Archives: Kim Clark

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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

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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

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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

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Leadership Starter Kit

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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 PST. FREE! Register at http://www.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 02116. Register at  http://bit.ly/1bP4uw9  or call 617.267.4430 class ID# 10190.

Congratulations,  you have been named project leader of a prestigious assignment.  You are thrilled to the gills,  but also apprehensive.  You have practical experience,  creativity and enthusiasm,  but you are not quite accustomed to such a front-and-center role.

You’ve scheduled a meeting to bring everyone together for the project kick-off,  where roles and responsibilities will be discussed,  timelines established,  milestones identified and important success factors and potential stumbling blocks will be acknowledged.  You know this is where you establish your bona fides and stake out your claim as the leader.  You are in charge and ideally you will project good natured authority and not arrogance or insecurity.  You are 20 years younger than several project team members.  How do you get this right ?

Introduce yourself

Welcome the team and thank them for participating on the project.  Express that you are very happy to work with such a talented and experienced group of professionals.  Without bragging,  state your professional experience as it relates to the project,  to let the group know that you are qualified and that they have every reason to trust your judgment and expertise.

Team introductions

Invite team members to participate in the standard round robin of introductions.

Confirm the project deliverables and due dates

Establish the expectations and begin to assign roles and responsibilities,  milestones and timelines.  Encourage team members to have a say in this process,  as they know more than you about how departments interact,  unspoken protocols and overall how to get things done.  Be secure enough to accept their suggestions,  as it will promote your credibility and earn you respect.

Ask questions

Pose questions that allow team members to contribute to the decision-making process and telegraph that you value their expertise.  Let team members share their knowledge.  Avoid being a know-it-all.

Listen carefully

Make team members feel heard and you will earn their confidence,  respect and loyalty.

Be humble

Team members must believe that you are qualified to lead the project,  but take care to portray yourself as a team player and a leader who wants to make everyone involved look successful.

Be empowering

Champion good ideas that are presented by team members,  and not just your own perspectives,  and you will build the team’s enthusiasm for and commitment to the project.  Respect and value the perspectives and recommendations that deep experience and long tenure bring.  Some ideas may fall by the wayside when explored in detail and others may turn out to be brilliant. Your tenured team members have the ability to make the project successful. Whatever happens,  empowering team members builds respect and loyalty and makes you look like (and be) a good leader. Remember also to be publicly generous with compliments.

Thanks for reading and Happy Thanksgiving,

Kim

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Business Planning for Nonprofit Organizations

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A successful nonprofit organization requires not only a vision and mission that resonate,  but also a good business model and well thought out operational,  marketing and financial plans.  There must be a sufficient number of constituents in need of programs and services that the organization would provide.  Planning to ensure growth and sustainability into the future must be carried out.

Over the last 5 years or so,  foundations that make major grants to nonprofit organizations have begun to require that aspiring recipients submit a business plan in the application materials.  Apparently,  a proliferation of grant requests has prompted many deep-pocket foundations to demand evidence of viability and responsible leadership and management in nonprofits they agree to fund.

The goal of nonprofit organization leaders is to ensure that all programs and services offered by the organization reflect its mission and are expertly delivered.  The organization must attract a desirable number of constituents,  be fully staffed and operate at optimum capacity.  Good relationships with donors must exist and sources of reliable funding must be in place.  The leadership team should have reason to be optimistic about the organization’s ongoing viability and relevance within target constituent groups.  A business plan (and strategic plan) will see to it that nonprofits put those building blocks in place.

Business plans differ from strategic plans in that the focus is on finance.  A start-up nonprofit organization in search of initial funding,  or an existing nonprofit that has plans to expand or upgrade programs,  services,  capital equipment or office facilities will find that developing a business plan will better demonstrate the organization’s viability to potential major donors and strengthen the case for financial support.

When preparing to write the business plan,  the leadership team will take a big-picture 360-degree view of all aspects of the organization,   including the social and economic environment in which it operates,   target constituents groups,  the business model as it relates to the mission,  the financial health of the organization,  specifics of the proposed expansion or upgrades,  the funding request and details of how funds received will be utilized.  The business planning process will also encourage leaders to:

  • Connect the dots between the mission and programs and services delivered
  • Acknowledge operational efficiencies and strengths
  • Establish performance metrics for programs and services offered
  • Clarify the profile of the constituents and identify emerging needs for services and programs
  • Update and refine marketing and communication strategies and channels
  • Identify short and long-term funding needs and identify where funds will be designated

In small organizations,  the Board of Directors,  along with the Executive Director,  will write the business plan.  In larger organizations,  the Development Director,  Operations Director,  Finance Director and other senior staff share the responsibility.

The business plan for your nonprofit will compel the leadership team to acknowledge and address critical questions that face the organization and demonstrate to potential major donors that plans are underway to overcome challenges,  exploit opportunities,  improve constituent services and more fully express the organization’s vision and mission.

For more information on business plan writing tailored to nonprofit organizations,  please tune in to Writing Wednesdays on Wednesday December 4 at 3:00 PM EST  (2:00 PM Central, 1:00 PM Mountain, 12:00 PM Pacific)  http://www.writingtomakeadifference.com/archives/4007

Thanks for reading,

Kim

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The Price Is Right

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Pricing is an art and a science and pricing intangible services is especially challenging.  Setting the right price for a product or service is a critical step in building a profitable business.  Quite simply,  you must charge enough money to not only cover your production or procurement costs,  but also reflect the value of the product or service provided and the value of your brand,  i.e.,  what clients will pay for the confidence derived from doing business with you.

But pricing a service is tricky and unless you are for some reason privy to what others may charge for similar services,  you are in the dark.  You probably do not know what competitors are charging,  so benchmarking is impossible.  The price that clients will pay you hinges on what they feel the job is worth and what they feel that you are worth.  Your mission is to avoid being perceived as a commodity,  vulnerable to the cynical bargaining down of your price points.  There are guidelines to follow when creating a pricing strategy.

Step One is understanding how clients perceive the value of your services and of your brand (reputation).  A “cost-plus” pricing strategy,  which is tied to what it costs to produce or purchase at wholesale the product or service to be sold is inadvisable,  according to pricing experts.  If customers are willing to pay $100.00 for a product or service that costs $10.00 to provide,  then charge what the market allows.

Step Two is understanding how the client wants to purchase your service.  Much will depend upon the type of services you provide and whether this is a one-off project,  or an ongoing retainer arrangement.  Whenever possible,  avoid charging an hourly rate and instead  “bundle” products and services into a project fee.  Do not give clients who are so inclined the ammunition to nickel and dime you by scrutinizing duties that you invoice and arguing over how long it should have taken to perform them.

Step Three is establishing different levels of service available: basic,  upgraded and premium.  Jean-Manuel Izaret,  a partner at the management consulting firm Boston Consulting Group,  insists that it is always best to give clients a choice,  whenever possible.

Step Four is targeting clients who value your brand and your services and are willing to pay a premium to do business with you.  The size of your available market will shrink, but each client will be worth more money to you.  It will also be easier to make the sale,  because this group of prospective clients values you and what you can do.  Access this group through networking and self-promotional activities: those who have heard your webinar,  read your blog or newsletter,   have received a recommendation from a trusted referral source,  have read a favorable article about you in the press—here is where your PR and relationship building activities can pay off.  This group of clients will have faith in your expertise and will agree to pay premium (but fair) prices at contract signing time.

Step Five is knowing your competitors.  It may be impossible to learn what they charge,   but you can learn the value of their brand.  Are you swimming with powerful fish,  or those about your size and strength?  That could impact your pricing strategy,  but only if clients are familiar with what the big fish charges.  It is unwise to price your services low in the presence of a competitor with a strong and well-regarded reputation.

Step Six is to benchmark against competitors in different parts of the country by checking the MOBIS contract prices offered to the federal government.  This is a useful way to get a credible ballpark number for setting prices.  Further,  you will see what types of services are being offered and how they are bundled.  http://www.gsa.gov/portal/content/245439

Thanks for reading,

Kim

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Year End Tax Planning 2013

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Lo and behold it is the first week of November and time for you to begin your year-end tax planning.  If you have an accountant or bookkeeper,  pick up the phone and make an appointment.   If you perform these functions yourself,  then take action now,  before Thanksgiving and Christmas ambush you.  Your mission is to minimize the tax bill payable in April 2014.

Let’s start with your place of business.  Do you work from home?  Then consider taking the home office deduction.

Next,  take a look at revenue generated in 2013.  If this was a lucrative year,  you are advised to push income into 2014,  especially if you expect next year to be less flush.   Study the matter before you invoice late 4th quarter projects.  Call clients to confirm that it will be OK to invoice in January.  Many are not on a January – December fiscal year,  so deferring payment until January may not be a problem.

If you expect no substantive change in revenue generated from 2013 to 2014,  consider investing in your business and creating additional tax write-offs this year,  rather than next.  Remember also  to make a contribution to your Solo 401K,  IRA or Roth retirement account.  Freelancers who have already celebrated their 50th birthday are eligible to make a maximum $22,000 tax-deferred catch-up contribution to their Solo 401K each year,  on money generated from self-employment only.

Further,  those who’ve had a good year and hold a Solo 401K may deposit up to 25% of their income into the account.  The tax-deductible and tax-deferred income limit is $49,000 for those under 50 years and $54,500 for those aged 50 years and older.  See my post https://freelancetheconsultantsdiary.wordpress.com/2010/11/09/the-self-employed-401k-plan/  for more information.

The Affordable Healthcare Act must now be factored into your year-end tax strategy.  Freelance soloprenuers who qualify for a health insurance subsidy (approximate income maximums of $45,000 for a single person household and $94,000 for a family of four)  need not worry about the subsidy being treated as taxable income.  However,  if your insurer refunds to you a portion of premiums paid,  that refund will be taxable and a 1099 will be sent.

Healthcare Act subsidies function to limit out-of-pocket  monthly insurance premium costs for those who generate revenues below a certain threshold.  The subsidy may be requested as follows:

1. Premium assistance credits, to reduce the monthly cost of health insurance

2. Up-front lump-sum payment

3. Tax credit on Form 1040, to reduce any taxes owed and perhaps create a refund

A statement that documents any subsidy will be issued and there will be an annual reconciliation.  If you underestimated your 2014 income,  you will be required to pay back a portion of your subsidy.  If 2014 income was overestimated,  then a refund will be somehow issued.  Visit the website of either your state or federal health insurance exchange to obtain information about how to estimate your 2014 income.

YOU will be responsible for monitoring your annual income and ensuring that you receive the correct subsidy.  Ben Tallman of Tallman Tax Service in Atlanta recommends that Freelancers monitor revenues and expenses at least quarterly and contact their health exchange and get themselves re-certified in the event of a large increase in income generated,  to reduce the chance of facing a subsidy claw-back at tax time.

Thanks for reading,

Kim

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Post From the Trenches: Cold Calling

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Even experienced sales professionals wince a little at the thought of dialing up an unknown person and attempting to persuade him/her to entertain the idea of doing business.  Those who perceive themselves as busy often never answer their phone.  Those who are reached usually decline the offer.  Yet if by some stroke of luck you reach a VIP,   prepare yourself to both deliver a pitch that will keep the prospect on the phone and hit a single to keep the inning alive.

Cold calling is prospecting and it is not the time for selling,  but rather for determining whether there can be an opportunity to sell.  Hitting a home run is not on the agenda.   During the call,   confirm whether the prospect perceives a need for your product or services and ask for a meeting.  In advance,   you will have researched the company and will be able to anticipate basic information that may be requested.

But first,  one must reach the prospect.   We all know this is increasingly difficult,  but 8:00 AM and 5:30 PM are good times to call: there are usually fewer distractions at those times.   If you have the prospect’s mobile phone number,  text a concise and tantalizing sentence about how your offerings might help the decision-maker to achieve an important goal and request a time to talk,  in person or by telephone.   If you do reach a warm body,  here are some hints that will help you execute a successful cold call:

Write a script

Identify yourself and your company.  State your product or service.   Confirm that you’ve called at a convenient time.   If told that your timing is not good,  as for a better time to call.   If told that you’ll be given a minute,  thank the prospect and say that you will be brief.  State an outcome achieved  (or problem avoided)  when using your product or service that is relelvant enough to intrigue your prospect and entice him/her to keep listening and ask for a couple of details.  Concisely fill in with a couple of pieces of information.   Ask how the need in question is being fulfilled now,  so that you can position your product/service.   Ask the prospect what  specific information would be appreciated and if he/she can see how what you are selling might be useful.   Ask permission to extend the time limit on the call and also offer to schedule a time to speak in person.

Speak with the decision-maker

In general,  there is no reason to speak with a gatekeeper,  unless that individual is able to facilitate access to the decision-maker or provide accurate information about competitive products and services that the decision-maker is now using.  Ideally,  you want to speak only with the person who has the authority and budget to green-light your presence.

Pursue prospects with big-money potential

Active pursuit of small budget clients is a waste of time.   Because they have little money,  small clients agonize over budgets and will do whatever possible to limit your billable hours.  Unless your goal is to gain experience,  let the small clients come to you.

Name drop

People usually trust those with whom they share a common relationship.  In other words,  if you are trying to get in the door somewhere,   obtain permission to use the name of a person whom the prospect trusts and respects.  Also, ask the referral source to speak on your behalf should the prospect want to check you out.

Make your cold call a dialogue,  a two-way conversation.  Listen to your prospect and respond to questions and objections.  Be pleasant and professional.  Even if you don’t do any business,  that prospect might refer you to a colleague.

Thanks for reading,

Kim

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Presentations: Impromptu and Prepared

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In June of this year,   I became president of a local membership organization that is primarily social.  I’ve been a member for 12 years and a board member for 8 or 9 years.  I find the experience to be very gratifying.  I’ve made friends.  I’ve continued to develop and refine leadership skills.  I am fortunate to preside over a board that is comprised of top drawer members who are committed to the organization and who work diligently to develop strategies and plans that will sustain the organization over the short- and long-term.  I do whatever I can to create conditions that enable board and committee members to do their best work and then get out of the way and let them do it.

To become an organization leader is to become its public face and unifying symbol to its members.  Public speaking is part of the job.  It is often necessary to offer words of inspiration and encouragement and verbally demonstrate that you embody the vision,  mission and values of the organization.  There are impromptu speaking  “opportunities”  that arise when you are half way through a second glass of wine and surprise! someone asks you to say a few words.  How do you successfully make an unrehearsed speech and manage to sound reasonably eloquent (and sober)?

There are also impromptu speaking opportunities that are professional in nature,  where one must speak ex tempore about business.  These speaking obligations are unscheduled but they are not completely unexpected,  since one attends certain events with the desire to meet and greet peers and prospects and talk business.  Finally,  there are scheduled speaking opportunities,  when one presents information to prospective clients.  Three types of speaking opportunities:  how can you stand and successfully deliver?

I.  Let’s start with the easiest,  the business meet and greet.  This is where your elevator speech is delivered.   You must decide which version you will roll out.   Are you being introduced to someone and asked what you do?  Keep your elevator speech conversational and limited to what the business provides,  your role or title and the name of the organization.  If someone asks what you do while in conversation,  give a vague but accurate description of the outcomes or benefits of the service you provide or products you sell.  Formulate a sentence that describes the business function and your role,  with a focus on benefits and outcomes.  In either scenario,  provide more information only if the person seeks more information.  Make the encounter a dialogue by asking questions of your own,  to establish whether this individual has a need for your products and services,  or is just making conversation.

2.  Twice,  I have been unexpectedly asked to address members of the organization for which I serve as president and twice I did a good job.  How did I do it?  Primarily,  I was fortunate to have a very good set-up introduction and I was smart enough to listen and pick out a phrase on which I could launch a quick little speech.  In the first,  I found a good tag line that I still occasionally use.  In the second,  I was able to find a theme and spin it into a good three-minute talk.  The moral of the story is,  a leader must anticipate public speaking obligations.  Keep your antennae tuned for anecdotes or observations made by organization members or others that can be used to develop an inspirational mini-speech.

3.  I pass along to you my interpretation of a Power Point presentation template developed by Bahar Martonosi of Princeton University.  You may find this template useful when auditioning for a prospective client or delivering a report of findings during a consulting assignment:

Your name and business name   (1 slide)

Project outline: work that the prospect would like performed   (1 slide)

Rationale: why is the project or problem important to the organization    ( 1 – 2 slides)

History: what has been done before   (0- 2 slides)

Method: your firm’s approach to the project or problem   (1 – 3 slides)

Results: this is the body of the talk.  Present the key results and findings. Do not present all results or findings.  (2 – 6 slides)

Summary:   (1 – 2 slides)

Back-up:  prepare slides that answer expected questions   (1 – 3 slides)

Keep things simple and focus on a few key points.

Repeat the key insights.

Know your audience and adjust the presentation as needed.

The post-presentation informal Q & A is very important.

Make eye contact,  be approachable and it’s OK to smile  (but this is business, not social, so know your role).

Make your audience want to learn more.

Thanks for reading,

Kim

Business Strategy , , , , , Leave a comment

Achieve Business Objectives With Facilitated Strategy Meetings

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Attracting and retaining customers and ensuring that an organization remains competitive in the marketplace are the primary responsibilities of for-profit and not-for-profit organization leaders.  Organizations run on revenue,  regardless of tax classification.  Every three to five years,  savvy leaders review their organization’s current state and the environment in which it operates,  the organizations’ customers,  the delivery of products and services,  the competitive landscape,  obstacles and threats to success and apparent opportunities and use that information to identify and prioritize goals that will set the organization on a path to a sustainable future.

It is imperative to create the conditions for a successful strategy planning or process improvement retreat/meeting.  The world has changed and there is no time to waste on possibly unproductive  “brainstorming sessions”  that may have sufficed in the past.  More than likely,  the results of the planning retreat are vital to the organization and it would be unwise to allow the winds of fortune or internal politics to control outcomes.

Engaging a professional meeting facilitator to guide your strategy planning or process improvement retreat will guarantee that participants will identify goals and objectives that are SMART  (specific,  measurable,  attainable,  relevant and timely)  and earn the support of mid-level managers and other key staff.   A facilitator allows all stakeholders to fully participate in the meeting,  rather than confining a key decision-maker to the role of meeting overseer and time-keeper.

The facilitator creates a positive meeting environment for the participants and lays the groundwork for teamwork and productivity.  He/she  keeps participants focused on the topic and momentum flowing.  Should a strong personality attempt to high-jack the agenda,  or if  the meeting somehow drifts off topic,  the facilitator employs techniques to re-establish focus without offending or squelching participant engagement and creativity.

A skilled facilitator knows how to bring forth the wisdom in the room.   He/she knows that most leaders already have the answers to the challenges their organization faces because they are its leaders.  They only need the right flow of energy to bring wisdom and good ideas to the surface.  If the group gets stuck,  the facilitator will help participants to consider the questions that should be asked,  which is another way to access the right answers.

One competency at which your meeting facilitator will be particularly adept is building consensus around a common vision and  priorities,  even if interpretations of these matters are divergent.  Helping opposing camps to listen to the reasoning behind the concerns and choices of the other side can lead to the discovery of a  “third way”,  alternatives that incorporate the key strengths of each viewpoint,  address what is important to each camp and allow the group to coalesce around this new hybrid approach.

Identifying long- and short-term goals that when implemented will grow market share;  overcoming business challenges;  improving service delivery and other process systems;  creating or more effectively utilizing competitive advantages;  and improving  bottom line profitability over the approaching 3 – 5 years is how organization leaders fulfill their responsibilities and behave like good stewards.  Contracting with a professional meeting and strategy planning facilitator ensures that leaders will meet these obligations and dispatch them appropriately.

Thanks for reading,

Kim