When starting a business, an entrepreneur will put his or her heart and soul into creating it.  It often begins
with an amazing idea, one that wakes you up and night and excites you.  The vision begins to be formulated, shared, and modified into something that actually could be.  It is without question that it will have the characteristics and passions of its creator, and that it will be personal.

I find myself wondering when so much of oneself is put into the idea and creation of the entity if is it possible to exclude ones spirituality? Whatever your faith or practice, I say the values and beliefs you hold most dear cannot help but be transferred to the business whether consciously or not.  The question for me is what would happen if they were included deliberately? By design?  If all that we put out into the secular business world were inclusive of our deepest, dare I say it, 'religious beliefs', would it make a difference?  And what is the place for ones faith in the business mix?  How do you integrate it?

When I look at a company's vision or mission statement, I look beyond the words and try to understand the deeper meaning. I believe a vision is formed from deep within, and by giving it words, we create our mission. 

What do you think?  Do business and spirituality mix? Has it worked for you? Or not? 

From the time we are very young, we are taught lessons about success and failure.  We’re taught that success is good, and failure is bad; that success is the result of hard work and failure, the result of laziness.  We are rewarded for our successes – prizes, parties, trophies, food, and money.  But if we fail,
there are no rewards.  We are left with our bad feelings, our negative judgments of ourselves and others, and often without hope.  We are told that we should learn from our failures, persevere and the next time we will succeed. 

As I mature and grow in business (an un-ending process), I realize how important and valuable failure is, and how imperative it is to ones success.  Failure is a daily occurrence, and that gives us the gift of knowing where things are compromised or not working as designed.  In the world of science, failure is not viewed as a barrier, but as a tool for discovering the ultimate solution.  Without failures we can’t know what really works, or experience true success.   It has been said that winning without struggle is not really winning.  It has no depth, no meaning, no value – for it is in the struggle that we grow and expand ourselves, becoming more than we ever imagined.

I recently experienced a failure in business that one might say is significant.  It afforded me all the self criticism and judgment one could imagine, along with guilt and shame.  But it also gave me gifts – a gift of humility, a gift of allowing someone to help me, a gift of being told that in spite of the failure (which by the way, is done and over), I am a remarkable, talented and successful business woman.  It gave me important lessons for my future, as well as hope for what is to come.  I learned that I am not defined by the failure, but rather that the failure is just a part of the mix.

Today, and every day, I embrace my failures.  The opportunity as I see it is to strengthen and support the processes and systems I use so that I may ultimately achieve the success I desire.  With each failure, with each risk I take, I get a little closer to that achievement. The road is filled with many bumps, turns, and occasionally a road block.  But bumps can send us flying out into the sky, on a fabulous journey, which we only begin to understand when we land.

How have your failures enhanced your business?  What successes have you had that you can attribute directly to earlier failures?

It’s check-up time for your business plan.

Many companies – large and small – have gone through the teeth-mashing experience of writing a business plan. Maybe it’s a strategic business plan, a business strategic plan, or perhaps you called it your marketing and strategic business plan as sort of a catchall. Whatever the term, you have probably taken the time at some point your business to write out the pearls of wisdom that would be the guide for your organization…then you placed it in a file somewhere and that was that. Now, during this economic crisis (yes, it is a crisis) you find that your business is struggling or your marketing just isn’t attracting new customers or vendors.

But look on the bright side, you and your company now have the time to reinvent and restructure your processes in order to survive. 

It is time to bring out that business plan, dust if off and review your business principles. Restructuring is as difficult as the start-up process because you must understand which elements are working and which are obsolete. Questions concerning customer retention, talent retention, technology updates, sales and marketing strategies, as well as leadership are all subject to evaluation. Are these elements still working, are they in sync with the current economy, is the pricing competitive, is our marketing attracting the right customers? In other words, a systematic review of every aspect of your plan – including your vision and mission statements – is in order.

I can attest to the fact that there are literally thousands of websites and books dedicated to the mechanics of structuring and restructuring a business plan. Most have excellent suggestions and procedures that facilitate your needs. But, a simple place to start is the tried and true form of SWOT (strengths, weaknesses, opportunities, and threats). It is easier to decide what kind of restructuring you need and which plan format is appropriate once you have an idea of these four elements within your business.

Basically, planning and restructuring are about using assessment tools to help you understand how your company’s internal operations are functioning within their external markets. The SWOT analysis is a well-tested form of assessment; however, there are many tools and formats to use in order to evaluate your current structures. Whichever you choose to help in the review of your business plan, the important step is that you are actually reviewing your business plan. As painful as that may be, it is necessary to the continued success of any business.

Please share you questions or comments concerning assessment or restructuring plans, we’d be happy to jump in and help you take your business to the next level.
 

Do you have a comfy or cliquey organizational culture?

Have you ever had the feeling that you were the only one wearing brown shoes at a black tie event? Do you feel like you’re the one person in the office your boss doesn’t like? Does it seem that you are not let in on the jokes or the conversations about last night’s program? As a manager, do you notice some team members not participating or contributing to your projects?

We have all had these uneasy feelings of rejection and ostracism in our lives, including at school, social events and work. Employers and managers must realize the effect these feelings make on the bottom line of your organization’s output. The perceptions or actual occurrences of ostracism can have a significant impact on your team’s ability to work together to achieve a specific goal. Psychologists have studied how humans are conditioned in nature to perceive even the slightest hint of such behavior as a defense mechanism in order to change or confront the behavior.

We no longer have to worry about maintaining our place in the cave society to survive; however, now we are concerned about our position in the organization as it relates to our superiors and colleagues. As a manager, it is very difficult to build and maintain cohesive teams, especially in a volatile economic environment. Work cliques that form at the expense of another employee compound this difficulty. Even the slightest off-hand or unintended comment can define how an employee perceives (real or imagined) his/her relationship with a manager or colleague.

The manager’s problem arises when the work output of the employee that experiences these feelings of rejection or exclusion is compromised. Employees may even resort to sabotage, inefficiency, passive/aggressive behavior, non-contribution or anger and resentment. The importance of recognizing these issues and defusing them quickly is vital to building a tolerant work environment.

It’s not realistic to curtail friendships or formation of groups, but it is realistic to set the tone and cultural tolerance for the company by example and policy. A manager can:

• Ensure that company behavior is sensitive to all multicultural groups and genders
• Write policies to reflect current labor laws
• Plan social events to be inclusive of all employees.
• Ensure every employee receives fair and equitable treatment, not matter their position in the company.

Remember, even the slightest perception of exclusion can result in an unhappy or anxious employee.

With the right examples and policies that are instigated by the leadership of an organization to the entire group, a company can do a great deal to ensure everyone feels a part of the team and continues to work towards the mutual goals set by management.

Please share your experiences with companies that either where proactive in creating a comfortable work environment or where negligent in addressing exclusion issues…

Managing your company’s time when it seems like it’s getting away.

When I started my third company I realized it was time to truly get organized! Balancing the obligations of business owner, wife and mother is not always easy, and sometimes I feel like I’m running in three directions at once.  So, I sat down, met with my employees and we created a timeline. Our timetable had project descriptions, assignments and deadlines. We scheduled weekly meetings to discuss progress and redefine deadlines as needed. By doing this, I could see when my employees and I were going to start, evaluate and finish projects. The companies began to run like well-oiled machines and life was grand.

But what happens when something pops up that’s not on the timeline? When new business prospects would like a proposal written, or current clients need a little extra TLC? Well, if your timetables are too rigid your deadlines can crumble like a house of cards. The trick is creating buffers into your realistic structure to ensure that everything gets done in a timely, prioritized manner.
   
Rule #1: Keep the ship sailing. As a business owner, executive or manager it is your responsibility to keep your team focused when the plan gets thrown out the window. Even when things are hectic, by utilizing a timeline you can monitor progress at all times. Then, make sure employees know what their priorities are and provide realistic deadlines for when things must be done.

Rule #2: Don’t make promises you can’t keep. We all want our clients to be happy, but you have to know where to draw the line. If you have existing projects where deadlines cannot be altered, honor those deadlines and resist taking on new projects or obligations that could overburden you and your team, compromising current business.

Rule #3: When all is said and done – get back on track. It’s not uncommon to get off track and to stop using the timeline as your business tool. Timelines can be revisited and revamped after they have been put on hiatus. If you get in the habit of setting and meeting deadlines, you will begin to see success. Once you’ve created this level of structure for yourself and your employees, keep it up.

I am not suggesting rigidity, or that you detail every day to the minute. You and your employees need some freedom to create and the flexibility to work. But, detailing projects and assigning tasks to members of your team with (and I can’t stress this enough) REALISTIC deadlines is the easiest and most effective way to get the job done. Just remember to build in some flex space and learn how to prioritize for when an unexpected storm blows through the office.
 

Perfecting your 30-second sales pitch.

Have you ever been to a dinner party or networking event and someone asks, “So, what do you do?” Now’s your chance! You have a captive audience and an opportunity to engage them in your company’s story and potentially bring on a new client.

“I’m a consultant,” you say. And just like that, the chance to be interesting and engaging has passed you by. Or, maybe you’re the type that starts with, “I was born in a hospital in Florida…” and proceeds to share your life story that ends with, “I’m a consultant.”

Either way, you probably flubbed the opportunity. When you have the chance to inspire people with what you do – take it! But you must keep some important concepts in mind to be effective and empowering.

1. Time is not on your side. Try to keep your pitch to 30 seconds. It’s what we call the ‘elevator pitch.’  If you can tell someone about yourself and what you do during an elevator ride, you’ll garner success!  If people want to know more, they’ll ask. But, as long as you’re clear and concise you’ll be surprised that you can tell the entire story in that time.
2. Speak to your passion. Tell people what it is about your work that really excites you and the value clients get from working with you. Make sure you tell people the things Do you love about your work (and not just that it pays the bills). Make sure you include the details and answer the questions before you have to be asked.
3. Practice makes perfect. Your pitch should come naturally and fluidly. Start by writing it down on paper. That way you can see if anything is missing. Once you have your pitch developed – memorize it and own it.  Finally, practicing in front of the mirror (as crazy as you’ll feel doing it) is a great way to get comfortable with your story.  Make eye contact with yourself, so you can get used to relating to yourself as others relate to you!
4. Keep it simple. Chances are the people you meet are not experts in your field – so don’t talk to them like they are. Be conversational and avoid terms/topics that might be confusing.

Keep in mind – you are your own expert. People are only going to know the things you share with them. So, if you can’t explain what your company does, how can you expect others to understand your product or service enough to hire you?

At Pick My Brain, we can help you develop a pitch that is sure to bring your company new clients. Contact us at 310.771.0665 for more information.
 

The value of a good business reputation.
According to Fortune, Apple is the world’s most admired brand. What gives this brand and others like it such stellar reputations? And, more importantly, how can your company achieve such accolades? Well, Fortune bases its rankings on eight key business attributes:

• Innovation
• People management
• Use of corporate assets
• Social responsibility
• Quality of management
• Financial soundness
• Long-term investment
• Quality of products/services

Overall, I believe that these eight key business attributes can fit into three major categories that should be of the highest importance to your business: quality, customer satisfaction and fiscal responsibility.

Quality
Customers want the most innovative and high-quality products and services for their cash. Period. So give the people what they want. Don’t spend all of your time and money talking about it and advertising it, the companies with the best reputations do it.

Customer Satisfaction
We’ve all had the experience of finding a brand (whether it be clothing, cars, electronics…) that we love but dread the purchasing experience. Even if you have a high quality product or service, people should want to buy from you. Make the decision easy for your clients. Manage your employees well and make sure that customers are always satisfied. Listen! Don’t try and tell people what they want, listen to them and give them what they want, without question or exception.

Fiscal Responsibility
So your customers are satisfied with you and the quality of your company’s product/service. Now you need to make them feel confident in your future. Three of Fortune’s key attributes revolved around the company’s assets. You don’t have to be the biggest player in the industry, but people want to know that your company is being managed effectively and that you’re practicing smart business. People also want to know that you are contributing what you can to your community.

So if you want to be the Rolls Royce, Google or Apple of your industry, keep these business elements in mind. Who knows? Maybe one day you’ll be topping Fortune’s lists.

We love to hear from you - let us know what you've been doing to better your reputation. Or, if you've had struggles getting past something and would like help finding a way. Posting comments gives others a way to learn from your examples and allows you to get invaluable feedback from colleagues.