As I write this I am unaware of how may of you read the articles in Canada’s Financial Post newspaper. The Small business section on Monday June 1, 2009 contained three great articles that I felt were worth discussing because the messages have significant value.
1. Business plan can unlock your growth potential.
2. Do not make knee-Jerk calls.
3. Credit for those who know how to ask for it
Lets first talk about the relationship between how a “Business plan can unlock your growth potential” and the link to the second article “Do not make Knee-jerk calls”.
It is pretty obvious that we all tend to live and work in an environment that expands and shrinks sometimes at a rapid place and sometimes at a slow pace. We also know that some small business owners tend to fly by the seat of their pants and make decisions based on Gut feel while others are well informed and tend to make tactical decisions. So which of the two type is best? Many studies have been done that indicate 85% of a businesses success is related to being able to make tactical decisions. In doing so we set ourselves up to win because all the chaos associated with change, can be better managed and controlled.
So if this is true how does it relate to the second article? In the second article they begin by talking about how the down turn in the economy is both an opportunity and a threat. An opportunity because it allows us to seriously evaluate what is important to the business. The evaluation should be a written plan that enable you to be more tactical.
It can also be a threat because short term cash flow issues can cause you to make knee jerk cut backs that affect long tern goals. An example would be cuts in the budget to develop yourself or your employees. Image for a moment the owner of a sports team cut back on coaching and left the coaching to the team captain. He did save money that particular year but the team did not make it to the finals. For sure all the players knew how to play game but the elimination of the coach was a knee jerk reaction. Similarly in another case the orchestra cut back on the conductor. Everyone can still play music but it is more noise then harmony. So in conclusion having a plan and Milestones will keep you on track, unlock your potential and keep you from making knee jerk decisions that could affect the longer term results.
Let’s talk about the third article about credit for those who know how to ask for it. Contrary to common belief the banks and other institutions are still loaning money. One of the important comments made in the article is that you should “cultivate your relationship with a banker long before you need the loan. Remember the first rule in sales? “People do business with people they like trust and respect”. So it is critical to take the time to build those key relationships with your banker, accountant, attorney and financial advisor if you have one. If you do not, you should start because in business it is important to have your team ready to play when you need them. I have done this for myself and for my business and it has been well worth the time invested.
I trust that the views shared were of value and I look forward to your feedback.
Expect the best Ken (514) 668-2320
Thursday, June 11, 2009
Monday, February 16, 2009
The Chess Game of Outsourcing
By Ken Ingram
Cost reduction is no longer the sole reason to outsource. Outsourcing itself has changed. In the past, companies had all the talent, skills and abilities needed to reach the businesses goals and objective. However in today’s constantly changing environment, our capacity to maintain those skills has become scarce.Organizations are evolving at a much faster rate than in previous years in order remain competitive and the most compelling reason to outsource may be for survival and business performance.
When I became a black belt in Six Sigma, many of the employees looked at the new methodology as a strategy not for the purpose of becoming more efficient and competitive, but as strategy to eliminate jobs. Those of us who saw it as a methodology to improve cost and to become more competitive while increasing customer satisfaction were able to increase our value to the organization. By getting involved in the process we became a catalyst and were recognized as change agents.
If a business is not constantly making adjustments and corrections in all areas of the business, it becomes complacent. Complacency leads to extinction even for businesses that have been around for decades. One area often overlooked is the workforce. Unless a consistent effort is made, even people will depreciate. We have to constantly challenge the status quo or risk becoming a part of history.
When you have great people, cross-training can be a solution to the changing business dynamics in lieu of outsourcing. You may already have the right people in your organization but they might lack the knowledge and know-how to become the absolute best that they can be. They may resist change and you may resist change because of the investment. In Quebec, the government offers subsidies of 50% of most mandates to keep your business and its people running at optimum.
Peter Drucker’s ‘Management Challenges for the 21st Century’, he describes how the old paradigms will need to be replaced by new ones. In the book ‘Good to Great’, Jim Collins talks about why some organizations make the leap and others do not.
What is important in all of these concepts and ideas, is that you put them into practice. More than any year in the past, your leadership, teamwork, sales and business development skills will be put to the test.
There are now several things that your organizations may want to achieve and cost reduction is one of them, but it may not be the most important goal anymore. You may be looking for ways to bridge the gap by providing additional capacity and skills that are in scarce supply.
When I became a black belt in Six Sigma, many of the employees looked at the new methodology as a strategy not for the purpose of becoming more efficient and competitive, but as strategy to eliminate jobs. Those of us who saw it as a methodology to improve cost and to become more competitive while increasing customer satisfaction were able to increase our value to the organization. By getting involved in the process we became a catalyst and were recognized as change agents.
If a business is not constantly making adjustments and corrections in all areas of the business, it becomes complacent. Complacency leads to extinction even for businesses that have been around for decades. One area often overlooked is the workforce. Unless a consistent effort is made, even people will depreciate. We have to constantly challenge the status quo or risk becoming a part of history.
When you have great people, cross-training can be a solution to the changing business dynamics in lieu of outsourcing. You may already have the right people in your organization but they might lack the knowledge and know-how to become the absolute best that they can be. They may resist change and you may resist change because of the investment. In Quebec, the government offers subsidies of 50% of most mandates to keep your business and its people running at optimum.
Peter Drucker’s ‘Management Challenges for the 21st Century’, he describes how the old paradigms will need to be replaced by new ones. In the book ‘Good to Great’, Jim Collins talks about why some organizations make the leap and others do not.
What is important in all of these concepts and ideas, is that you put them into practice. More than any year in the past, your leadership, teamwork, sales and business development skills will be put to the test.
There are now several things that your organizations may want to achieve and cost reduction is one of them, but it may not be the most important goal anymore. You may be looking for ways to bridge the gap by providing additional capacity and skills that are in scarce supply.
Monday, October 20, 2008
What would people say about you if they were asked?
By Ken Ingram
“The ultimate measure of a man is not where he stands in a moment of comfort and convenience, but where he stands at times of challenge and controversy."Martin Luther King Jr
“The ultimate measure of a man is not where he stands in a moment of comfort and convenience, but where he stands at times of challenge and controversy."Martin Luther King Jr
Like most of us, our parents gave us a base set of values and principals for us to grow and development as individuals. One of the key principals was integrity and it formed a significant part of their verbal and non verbally communication and was more often than not, generally in alignment with what they did and who they were. I said generally because sometime we act before considering our integrity and a compromise takes place.
Many family businesses across Canada were started out of very modest facilities and have grown to multimillion-dollar companies based on the integrity of the founder. One of the common issues is that the high level of integrity of the founder is not always practiced by all family members and employees. This is why much like our parents as the business owner you need to practice setting the tone and standard for others to follow. I have mentioned in past articles that people do business with people they like trust and respect, why? maybe because your business has one more important quality, Integrity.
In today competitive environment, your reputation is everything, but of course, you already know that. Customers buy into your brand because of your beliefs and how you have communicated those beliefs. My father always shopped at Eatons when I was growing up because of their Integrity and belief that you should be 100% satisfied. Everything the customers purchased came with a money back guarantee. Why because they stood behind every product they sold no questions asked. What would your business look like if every family member and employee shared your core values and if not what are your strategies to bring this back into balance. The creation of a code of ethics for your business along with clearly identified consequences may be a solution.
In the end just about everyone has an opinion or has written something about Integrity but what is most important is how you define it for your business.
Growing your business - intelligently! - http://www.tac-coaching.com/
Thursday, September 4, 2008
Do you - Remember how to test your limits?
I recently watched the movie Rent. What a thought provoking opening song. “Five hundred twenty-five thousands, six hundred minutes. How do you measure a year in your life”? If you are like most of us, we tend to go through life no longer thinking about many of the actions or interactions that take place during the 17 hours that we are awake. The activities have become repeatable habits overtime. Each day we typically repeat the cycle that is both positive and negative until the need to reflect on “what we want to do, need to do and ultimately can do”!
I recently observed a group of skate boarders aged from 7 to 10 years old and thought how daring they were and what remarkable talents they had. The next group was somewhat older and seemed just as remarkable but then a switch happened. The 20 to 30 year olds became the coaches/mentors and they were now working with the younger group on ways to improve their skills and test their limits. As adults, what I find remarkable is that as we age, we pull back to a more secure position and stop testing our limits. We no longer question what we do, why we do it, or what we need to do. It all changes.
When recently working with one of my clients it was interesting to learn how they were avoiding risk and are no longer pushing the limits in their personal or professional lives. Nick Boothman, author of Fully Connected in Business believes that we came into this world with super powers. These super powers allow us to do a multitude of things. However, over time we stop using them as effectively as when we were younger.
So what are these super powers? Enthusiasm, curiosity, the ability to process information and empathy. We draw on these supper powers to survive. How many people do you know who are less enthusiastic, less curious, fail to process information and are no longer empathetic? One of the reasons for coaching is to bring people’s super powers back into alignment.
So can you, as a Coach do this effectively? Let start back at the beginning. Imagine for a moment the question was ‘How do you measure a year in your life both personally and professionally?’ Then reflect on the same question with your coachee.
This question gave me food for thought and had me reflecting on 2007 / 2008 and what I had achieved personally and professionally and what our TAC-Coaching clients had achieved. Are we as a team testing our limits and did we enable our clients to push their own limits? Let’s face it, many of us get lost in the day-to-day business of life. In fact, we are so busy running around working in the business that we forget to work on the business.
Part of the improvement process is about measuring and tracking the key success factors that are important indicators of how we are doing or what we are not doing? I am happy to report that even in the current economic climate as a team we have succeeded and so have our clients. However, we are still pushing the limits. We cannot afford to rest on our laurels. It is all about continuous improvement, striving for platinum and not stopping at gold. So how did we do it? How can you do it?
The first question is to define what you want to do, need to do and can do!
Therefore, in conclusion the first step in testing your limits is a commitment to measuring a day, a week, a month or even a year in your life in order to have a clear understanding of those key parameters that drive your results and the results of your coachee. Be prepared to make adjustments needed to push the limits. In the end, it all boils down to one thing Results and you get results by understanding where you as a coach need to optimize your super powers and where your clients need to optimize theirs. This is how you will have a great five hundred twenty-five thousands, six hundred minutes. in your personal and professional life.
I recently observed a group of skate boarders aged from 7 to 10 years old and thought how daring they were and what remarkable talents they had. The next group was somewhat older and seemed just as remarkable but then a switch happened. The 20 to 30 year olds became the coaches/mentors and they were now working with the younger group on ways to improve their skills and test their limits. As adults, what I find remarkable is that as we age, we pull back to a more secure position and stop testing our limits. We no longer question what we do, why we do it, or what we need to do. It all changes.
When recently working with one of my clients it was interesting to learn how they were avoiding risk and are no longer pushing the limits in their personal or professional lives. Nick Boothman, author of Fully Connected in Business believes that we came into this world with super powers. These super powers allow us to do a multitude of things. However, over time we stop using them as effectively as when we were younger.
So what are these super powers? Enthusiasm, curiosity, the ability to process information and empathy. We draw on these supper powers to survive. How many people do you know who are less enthusiastic, less curious, fail to process information and are no longer empathetic? One of the reasons for coaching is to bring people’s super powers back into alignment.
So can you, as a Coach do this effectively? Let start back at the beginning. Imagine for a moment the question was ‘How do you measure a year in your life both personally and professionally?’ Then reflect on the same question with your coachee.
This question gave me food for thought and had me reflecting on 2007 / 2008 and what I had achieved personally and professionally and what our TAC-Coaching clients had achieved. Are we as a team testing our limits and did we enable our clients to push their own limits? Let’s face it, many of us get lost in the day-to-day business of life. In fact, we are so busy running around working in the business that we forget to work on the business.
Part of the improvement process is about measuring and tracking the key success factors that are important indicators of how we are doing or what we are not doing? I am happy to report that even in the current economic climate as a team we have succeeded and so have our clients. However, we are still pushing the limits. We cannot afford to rest on our laurels. It is all about continuous improvement, striving for platinum and not stopping at gold. So how did we do it? How can you do it?
The first question is to define what you want to do, need to do and can do!
Therefore, in conclusion the first step in testing your limits is a commitment to measuring a day, a week, a month or even a year in your life in order to have a clear understanding of those key parameters that drive your results and the results of your coachee. Be prepared to make adjustments needed to push the limits. In the end, it all boils down to one thing Results and you get results by understanding where you as a coach need to optimize your super powers and where your clients need to optimize theirs. This is how you will have a great five hundred twenty-five thousands, six hundred minutes. in your personal and professional life.
Thursday, July 17, 2008
Recharging Your Batteries
Written by Ken Ingram
I feel this summer has been great because it has not really been too hot at least where I have been. On the other hand, we have all heard news about the increase in the bug population in some areas. Bugs are like competition in your business - an annoyance. Would it not be great if we could immunize our clients with Musk-oil and keep our competitors at bay? I am sure we would all line up for this product. That being said summer is a great time to clean-up, throw out, and recharge your batteries. It is also a great time to re-energize your business. I always find that business owners have more time in the summer to meet with me. They are new ways looking for ways to ramp-up for the fall. My suggestion to you would be create a balance by taking sometime off but do not ignore the opportunities. Your competitors, like those annoying mosquitoes, are buzzing around and if you take too much time off one of them will suck blood.
Here are a few ideas for the summer of 2008.
Believe in your idea! Casually talk about your business with passion and conviction at BBQ.
Analyze. What you are good at, where are your limitations, where are your opportunities and what is holding you back.?
Build a support group. Create your own confidential board of directors. You will be amazed at how many people at a family event will want to help make your idea happen.
Pay it forward. Helping others is a good business ethic and habit to adopt.
Expand you network. At golf game, build relationships and contacts.
Spread the word. Send out press releases to newspapers. Try talking with a journalist. They can help you share your experiences with others who can benefit from your successes.
Keep learning Take relevant business training, find a good coach and make sure you take advantage of government subsidies available to all business.
Make a budget and save money whenever you can. You will find plenty of time to spend latter. Make sure you get a good accountant because they can be worth their weight in GOLD.
Be realistic. It is better to start small than to grow beyond your capacity to deliver.
Seize opportunities. You may never feel ready to launch your product or service, so share your ideas people you meet on a camping trip. You have a captive audience.
Embrace your mistakes. This is part of the learning process and experience. You are stronger than you think.
Recharge your batteries effectively, and work towards creating your own Buzz.
Thursday, May 22, 2008
Monday, May 19, 2008
The Lightning Power of Zap or creating energy and Engagement
By Ken Ingram
For many businesses, employee engagement can be one of our biggest challenges. The question we often ask is, “How can I improve quality, productivity and employee satisfaction?”
The emphasis is on the ‘I’. It is up to you to create the environment. Interestingly enough the answer is simpler than many of us think. In the book Zapp by William C. Byham he shares some ideas on the answer to this question. Byham believes the answer is empowerment.
Most managers are policing for failure, which results in robbing employees’ energy and creativity. Imagine for a moment, you could create a critical mass of employees that are Zapped! What kind of results do you think you would get? Now this is very important. We’re not talking about using a cattle prod to Zapp employees. I’m talking about encouraging responsibility and creating an environment where employees feel they own their jobs. John Miller also wrote an interesting book called the Question Behind the Question, or QBQ. Mr. Miller asks “Could we actually find a way to eliminate blame, complaining and procrastination?". Many managers and business owners would be very surprised to find out that the response is yes. Equally, many managers are looking to change the employees but not themselves.
Change starts at the top. The old adage ‘Do as I say, not as I do’ will not enable you to create the kind of environment that will result in the kind of win-win conditions needed to get that slight edge over your competition.
Michelangelo said “I saw the angel in the marble and I chiseled until I set it free”.
Imagine for a moment we could look at our employees as our personal work of art and coach them until we have succeeded in releasing their full potential. We would in effect be applying the principals of Zapp and the QBQ. In doing so we could pursue any number of business goals or challenges. Did I here you say wow?
Do you want to learn how to Zapp employees or how to find that leader in all of us? Would you like to learn more about the Question Behind the Question? Give us a call at www.tac-coaching.com
For many businesses, employee engagement can be one of our biggest challenges. The question we often ask is, “How can I improve quality, productivity and employee satisfaction?”
The emphasis is on the ‘I’. It is up to you to create the environment. Interestingly enough the answer is simpler than many of us think. In the book Zapp by William C. Byham he shares some ideas on the answer to this question. Byham believes the answer is empowerment.
Most managers are policing for failure, which results in robbing employees’ energy and creativity. Imagine for a moment, you could create a critical mass of employees that are Zapped! What kind of results do you think you would get? Now this is very important. We’re not talking about using a cattle prod to Zapp employees. I’m talking about encouraging responsibility and creating an environment where employees feel they own their jobs. John Miller also wrote an interesting book called the Question Behind the Question, or QBQ. Mr. Miller asks “Could we actually find a way to eliminate blame, complaining and procrastination?". Many managers and business owners would be very surprised to find out that the response is yes. Equally, many managers are looking to change the employees but not themselves.
Change starts at the top. The old adage ‘Do as I say, not as I do’ will not enable you to create the kind of environment that will result in the kind of win-win conditions needed to get that slight edge over your competition.
Michelangelo said “I saw the angel in the marble and I chiseled until I set it free”.
Imagine for a moment we could look at our employees as our personal work of art and coach them until we have succeeded in releasing their full potential. We would in effect be applying the principals of Zapp and the QBQ. In doing so we could pursue any number of business goals or challenges. Did I here you say wow?
Do you want to learn how to Zapp employees or how to find that leader in all of us? Would you like to learn more about the Question Behind the Question? Give us a call at www.tac-coaching.com
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