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Courier-Mail Newspaper: Executive Wisdom Q&A September 2012 Posted Friday, August 31, 2012 by Ric Willmot
Here is the September 2012 edition of my Q&A column in the Brisbane Courier-Mail newspaper. Send your questions to ric@executivewisdom.com and we will ask the newspaper to publish your questions. We do not have editorial control and cannot guarantee that your particular question will be published.
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© Ric Willmot 2012. All rights reserved.
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Ric's Thought for Today No.3 Posted Friday, August 31, 2012 by Ric Willmot
Writing articles and blog posts will only succeed in helping your business if the objective is clear: Write about solving problems that matter for your readers. Not what you want to sell them.
 © Ric Willmot 2012. All rights reserved.
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Last-minute e-gift certificates for Father's Day Posted Friday, August 31, 2012 by Ric Willmot
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Friday Redux No.14: Looking for leadership in all the wrong places Posted Friday, August 31, 2012 by Ric Willmot
I had been captain of many of the sporting teams at school and college. I had captained club teams after graduating and been elected to leadership positions in community groups as well. So, later in life when I became a CEO of a HR & Recruitment firm, I thought I knew a great deal about being a leader, leadership traits and how to identify other leaders. After all, hadn’t my reputation proved this?
As I turned around this organisation from being mediocre to something all stakeholders could be proud of, the need to create another tier of leadership underneath became too much to ignore. Even though my belief was in flat structures, collaboration and consensus (I hadn’t yet read Victor Vroom or Phil Yetton), the decision was made. One of our most successful Business Development people had, what I thought, were the necessary skills, abilities and traits. Plus, she was well-known and respected by the entire company for her results. Over lunch, the two of us discussed this opportunity and established goals, KRAs, KPIs, and a commensurate increase in her remuneration for the additional responsibility. The deal was consummated with a fine Australian red wine. Transforming an exceptional sales performer into a manager made perfect sense to me. After all, if I could have the rest of the team emulating her success the business would continue on the growth curve we had been able to establish. Plus any problems the team might have, surely this person would have already encountered them and know exactly how to handle the situation, leaving me free to do more strategic work. Under the new manager sales declined over four months, morale plummeted and we had three resignations. What was her problem? What was she doing and why? I sought counsel of two great minds that I had worked for in the past and soon learned that I needed to work on myself, not on my newly appointed manager. As a CEO and leader, I hadn’t given her any guidance, mentoring or coaching for her to step up to the mark as a manager and leader herself. The fault was all mine. I had let her down. I was looking at the symptom rather than attempting to uncover the cause. Once I realised this and took the appropriate action to be a good leader myself, things changed for the better and we were back on the way up. Here are three things you might consider:
__________ Ric Willmot 0
Ric's Thought for Today No.2 Posted Thursday, August 30, 2012 by Ric Willmot
A “No” today is not a “No” forever. When a prospective client says no to you, don’t walk away angry. Ask permission to stay in touch. Send something of value about 30-45 days later such as an article, a white paper, a case study, research results, etc. In 90-120 days, telephone the prospective client when you’ll be in their neighbourhood and ask if they might have coffee or meet briefly with you. Maintain the relationship!
© Ric Willmot 2012. All rights reserved.
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Stop talking and start listening to win more business Posted Thursday, August 30, 2012 by Ric Willmot
Arthur Miller’s, Death of a Salesman has Linda responding to Willy as he bemoans that he talks too much: “You don’t talk too much, you’re just lively”.
Guess what? Most professional service providers talk too much! Why? Because they are so good at what they do. Because they’re experts and they’re assiduous in displaying this expertise believing that this will win over the prospect to engage their services. Why We Talk Too Much a) A need to display expertise: If you show why you’re the smartest they’ll engage you rather than the competition. Of course, there needs to be a visceral connection, as well. Logic will enable the client to think, but emotion with force them to act. b) Liking the sound of our own voice: Compare these two propositions: Would you like to see my holiday photos? Can I see some of the photos from your holiday? You may like the sound of your own voice but so does your prospect like the sound of their own voice. c) Nerves: Why might you have nerves? Lack of confidence in your own ability? Is it a lack of understanding of the client needs? Are you concerned about how much the prospect might be willing to afford? It’s imperative to discover why you’re nervous and then invest in yourself to correct the issues. d) Ill-prepared: When you commence a conversation with a prospective client regarding the utilisation of your services, and you don’t have a plan or an objective the conversation will never end with a clarity of purpose or helpful next steps in the relationship. e) Just lively: Be dynamic, be bright, be personable, just do it in small amounts so the client can appreciate your liveliness without being overcome by it. If you can learn why you talk too much, you can develop a personal plan to eradicate the soliloquies.
__________ Ric Willmot 0
Ric's Thought for Today No.1 Posted Wednesday, August 29, 2012 by Ric Willmot
When managers talk, there’s more than mere factual information being shared. Communication is more than words. And the value of the communication is in how it is received not by how it is sent. Wise managers, therefore, take notice of their interpersonal behaviours and the messages those are sending, as well.
© Ric Willmot 2012. All rights reserved.
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What professional firms need to know about their people Posted Wednesday, August 29, 2012 by Ric Willmot
People who work in professional services are different. They are knowledge workers. And, they’re unique!
They are the means of production. They own it, because it is them. The office is their servant not their master. They don’t need to be in the office to do their work. Effectiveness is more important (to everyone) than efficiency. The business (employer) needs them more than they need the employer. You never know how long they will stay with you. It’s easy to do what they do elsewhere. What are you doing to attract knowledge workers to your firm? What are you doing to retain the knowledge workers who are with you at the moment?
__________ Ric Willmot 0
You can choose your customers Posted Wednesday, August 29, 2012 by Ric Willmot
You can choose your customers. You do not have to accept every customer who says they will do business with you. You might think you have to because the mortgage needs to be paid next month – but there are downsides. A poor prospect never makes a great customer. If you think the prospect is difficult during the engagement dance, imagine how much trouble they’ll be when you are engaged. It never gets better!
Poor customers frustrate you and your staff. They sap your enthusiasm. They take an inordinate amount of time to service and satisfy (if they ever can be satisfied). They take you away from marketing for A-Class customers that you would be delighted to work with. You can choose your customers by the way you price your products and services. You can choose your customers by the way you market and promote your business, your outreach and your product/service line. Consider this:
It’s not a matter of who can benefit from what you sell. It’s about choosing the customers you’d like to have.
__________ Ric Willmot 0
You have to ask the right questions Posted Tuesday, August 28, 2012 by Ric Willmot
In order to be an effective business leader, you need to become a better problem finder, not just a better problem solver. Organisational breakdowns and collapses tend to evolve over time, beginning with small errors that are compounded and eventually gained momentum. We need to become hunters who venture out in search of problems that might lead to disasters for our businesses.
The sooner we can identify and reveal problems, the more likely it is that we can prevent a catastrophe. As business leaders we must discard the notion that we have all the answers. We must focus on shaping and directing an effective decision-making process, marshaling the collective intellect of those around us. We need to focus on process, not just content. As Peter Drucker notes, “the most common source of mistakes in management decisions is the emphasis on finding the right answer rather than the right question.”
__________ Ric Willmot |
   
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