It Does Not Have to be Lonely at the Top (in fact it shouldn't be!)

Today's post is written by Bob Dodge, Sr. Partner at The Alternative Board - Denver West.

As a business owner, you have no doubt experienced how lonely it can be at the Top. It doesn’t have to be lonely, though. Even the Lone Ranger had Tonto to talk with. You don’t have to go it alone; in fact, there are several reasons you should involve (listen to) others.

Talk with your employees to find out:

1. if they understand why you expect them to complete critical tasks. If they are not motivated, no amount of training will help! The must have the desire to do so.
   
   
2. if they have the capabilities (time, tools, skills and resources) to accomplish what is needed for the organization. Telling your team to “just do it” if they lack these capabilities will only frustrate them, and eventually you. You and your entire team will benefit from discussing your vision and priorities; providing opportunities for employees to learn. Demonstrate to your employees through your actions that you are committed to these critical success factors.
   
   
3. if they know the consequences of their actions or lack thereof. If employees don’t understand what is in it “for them”, they’ll never perform. Be prepared to provide those (positive as well as negative) consequences to avoid problems down the road. In short, walk the talk.
   
   As a result, you might hear some great ideas to improve the business! After all, they are the ones actually doing the work!
   
   

Talk with your customer to jointly consider how they experience your product or service:

1. Maybe there are additional services you might provide that customers would value (and pay for). These are opportunities to capture additional revenue.
   
   
2. You might discover that your company is currently spending time, money or other resources on activities and features that your customers don’t value.
   
   At least they’ll appreciate the gesture to at least look at the business relationship from their perspective.
   

Talk with your peers:

You might be surprised that other leaders face similar challenges as you. Regular conversations with these executives provide a safe way to explore ideas and learn from one another.


Talk with your coach:

Consider getting a coach to help you explore and accomplish taking your business to a new level. A good coach will help you listen to yourself!

These examples of communicating are all actually acts of listening. Most business leaders can and do inform, motivate, sell, and convince. Effective leaders have also mastered listening! How could listening to your employees, customers, peers or coach affect your business? Would you feel like less of a Lone Ranger?

Are Things Really as Bad as They Say?

In a recent Board meeting (consisting of small business owners) we had a conversation about the state of the economy. The question on the table was “are things really as bad as “they” say”? While the news out of Washington and most everything else in the press is negative the Board found reasons to be optimistic!

In spite of everything, small business owners find ways to grow their businesses and become financially successful. This economic swing is no different. Yes, business is run differently and won’t go back to the “old ways” but there are people out there making money in a down economy (including these Business Owners).

The economy will come back! What it will look like remains a question but it will come back. While unemployment is “high (9.7%)” compared with what we have seen in the past, the fact is we still have a lot of people working – 90% of the population!

At the end of the day, it is about remaining optimistic and looking for opportunities. While you need to keep on top of the economic news, there is no need to blame the economy. Find new and innovative ways to run your business. Small business owners (and Americans as a whole) have always persevered during difficult times.

Here is the message from one group of very successful business owners – focus, focus, focus!

Share your thoughts.

Are You Challenging the Process?

As leaders we seek challenges and accept opportunities to test our abilities, to exceed our limits. At least we should. Challenge is the opportunity for greatness. Many people are at their best when there is a chance to change the way things are done. Maintaining the status quo breeds boredom and mediocrity for individuals and organizations.

We need to encourage innovation. We should be looking for ways to improve our work and our organization. We must be open to listening to the ideas of others.

Challenging the process means experimenting and taking risks. Mistakes will happen and that is okay, as long as we learn from them. When we try something new, there will be added stress and uncertainty. Help yourself and others through these challenging times. Reward people for taking on stressful and important tasks. Stay upbeat and acknowledge your successes--not just the liabilities. And ensure your people are empowered to make change by demonstrating you’ll work with them rather than going around them or over their heads.

“There ain’t no rules around here! We’re trying to accomplish something!” Thomas Edison

Where Do New Ideas Come From?
Most of us can identify when things are working well, however, figuring out how to change something isn’t always simple. Or is it? Most of us are convinced that our problems are unique to our business, our industry, etc. Truth be told, the probability that someone else has experienced the same or similar problem in your industry, or in an entirely different industry, is extremely high. So where can you find those new ideas and solutions?

• Look beyond your office. Get out and talk to customers, employees, and suppliers, attend networking events that are industry specific, or speak to a group of your peers.

• Step outside of the boundaries. It is easy to let the daily routines get in the way of seeing a great idea. A fresh perspective from a different view can often turn on the light bulb.

What Can You Do To Challenge the Process?
Here are a few ideas to help you get started.

• Choose one routine task, and do it as if for the first time. Ask yourself: Why am I doing this? Does it have to be done this way?

• Find something that is broken and fix it.

• Encourage everyone to set up little experiments in improving their work. Start a “wacky idea of the week” award and give it to someone who made an interesting experiment (even if it failed) and who learned something.

• Collect new ideas from everyone. Start an idea club. Ask everyone on the team to come with one new idea to improve the teams’ performance.

• Reward risk takers. Praise them. Give them silly prizes. Have them share their experiences and lessons.

• If you don’t understand a policy or process, ask why. “Just because …” is not an acceptable answer. If there isn’t a good explanation, change it!

• Tell everyone about the worst mistake you ever made and what you learned.

It Can’t Be Done!
Challenging the process means initiating change and often means taking on some things that others believe are not worth the time or energy. A few examples include

• This “telephone” has too many shortcomings to be seriously considered as a means of communication. Western Union internal memo, 1876.

• A cookie store is a bad idea. Besides, the market research reports say America likes crispy cookies, not soft and chewy cookies like you make. Response to Debbi Fields’ idea of starting Mrs. Fields’ Cookies.

• The wireless music box has no imaginable value. David Sarnoff’s associates in response to his urging them for investments in the radio.

Now this may sound difficult but the rewards are significant. Clients of mine that have "challenged the process" have found great rewards, particularly during the current economic climate. They have found new and complimentary markets, found ways to improve productivity, find cost savings, and get the right people in the right roles within the organization. I'm not saying that this is easy, most change isn't, but challenge yourself and your company. You'll be glad you did. Let me know about your changes!

Customer Advisory Board

Regardless of the economic climate, it is always easier and cheaper to keep customers rather than go find new ones! If you are a “market-driven” company, then you will want regular feedback from your customers. One way to solicit input and have an on-going dialog from your customers is to have a Customer Advisory Board. A Customer Advisory Board is typically made up of “strategic” customers and/or partners and key members from your staff. You will want to have a set of customers that represents a broad segment of your market – different industries, segments/markets and user types. Establish a meeting on a regular basis (perhaps quarterly or twice a year – depending on your business). Ideally you want to be face-to-face. If that isn’t possible there are a number of technologies that you can use. Consider mixing it up –maybe face-to-face meetings twice a year and then video, conference calls, webinars, etc. for other dialogs.

Topics for your Customer Advisory Board can include product direction (new markets, products or features), getting feedback on marketing messages, documenting service/support requirements, or testing out new pricing and/or packaging ideas to name a few. Another key topic will be to continue to keep your pulse on your customers business and how the economic and political climate is impacting them. These can be some important early indicators for your business, especially to gage when they feel that they are heading out of the recession.

The Advisory Board will often have topics for you too! When I ran Customer Advisory Board’s, customers always came up with new ideas that hadn’t been thought of. The Customer Advisory Board is there to provide you with inputs, ideas and validation. Your customers will benefit as they often get to see/hear about what is coming next before everyone else and you are continuing to build a strong relationship with them by making them an integral part of your business. Make sure you have an agreed upon agenda prior to each meeting that states what you will cover and what you want to accomplish during the meeting so that everyone walks away with value. Your customer’s time is valuable (as is yours) so make sure there is something in it for them too (WIIFM – what’s in it for me).

When you are selling your product/service, you can tout that you value the inputs of your customers so much that you have a Customer Advisory Board to provide on-going feedback to the organization. Be prepared to be amazed at what you will learn from your customers, not to mention that they will be feeling your “love” knowing that you pay attention to them.