Have you ever wondered what percentage of the wealthy actually wrote out goals, created a plan of action and diligently followed their plan through to completion?
Goals are like a little compass in your mind. They keep you going the right direction. Once your brain knows where it’s going, it has a better chance of actually getting you to your destination. But not just any goals will work; you need SMART Goals.
SMART Goals are:
Specific: Saying that you want to increase revenue in your business is an ambiguous goal, but it’s not a specific one. A specific goal is one that states you want to increase revenue by five percent this fiscal quarter by engaging in newspaper advertising.
Attainable: An attainable goal is something you can actually achieve; it is within your ability to accomplish within the time you allotted and within the framework specified. It’s a goal that won’t make you work eighteen hours a day, but it will be a challenge to reach.
Measurable: A measurable goal is one that is clearly visible; you know what you need to do and how to evaluate if you accomplished your mission or not. More importantly, your clients will also see or experience the benefit of you reaching your goal. Customers know when you’ve worked to improve your business and it often creates sense of loyalty within them.
Time-based: You need to accomplish your goal in a reasonable amount of time. For example, it shouldn’t take six months to add a phone line. If it does, you are either procrastinating or you need to find a new phone company! Establish when you want the goal completed and state a date or that you want it done tomorrow, next week, next month, etc.
When making plans, set goals using the SMART Goal system. Where do you see your business in 90 days? How about six months? Six years? Do you see yourself twice as big, or do you see yourself as twice as small? What goals need to be established to reach your business plans?
Why is it important to make goals? Why does this matter? Why go “goals digging”? An MBA survey a group of students compared their wealth over a span of 25 years. Of the students participating in the survey, 70% had no goals at all, 27% had verbal goals, and 3% had written goals. The last 3% had 98% of the wealth of the group. Now the question is, “When are you going to start planning out your own goals? Will you start today?”
What is an executive coach and why would I want one?
Advance a career.
Transform a company.
Achieve incredible results.
With Executive Coaching all this is possible. Plus more.
For executives who want to take their career to the next level – certified practicing executive coaching can get you there.
So why executive coaching for your organization?
In business, the only thing that really counts is results. Executive coaching promises to deliver results within a relatively short span of time.
High achievers continually deliver results and they do it by performing at their best each and every day.
In today’s dynamic business world, these high achievers also need the guidance, support and motivation of an executive coach to accomplish this.
Peak performance is based on a few key factors, and no matter what business you may be in, the fact is:
• High performing executives achieve more
• High performing teams deliver more
• High performing companies make more profits and enjoy more market share.
All this is made possible through executive coaching.
How can you leverage your current skills, experience and resources in today’s fast-paced economy? How can you stay competitive in an increasingly competitive business world? How can you remain a top performer in a top performing company?
The answer is simple –by using the services of an executive coach.
So how do I pick one? How do I know they can really help?
Here are 4 tips for choosing an executive coach:
If you have any questions – give me a call – I will help you find the right coach for you.
The critical impact of attitude is seen every day in the business world. What one business owner sees as a disaster, another sees as opportunity, and capitalizes on that opportunity. Those who have spent their lives in below the line thinking don’t even realize the impact it has not only on them personally, but their families, businesses, customers and potential. If their team is below the line, where did they learn it from? Most likely they learned it from the business owner. An owner who is below the line will hire staff who also first turn to blame, excuses and denial. It is someone else’s fault that the project is delivered late, someone else’s fault that the customer is upset. To change they will need someone to hold them accountable to point out where they are below the line.
As I work with clients on this concept, the tendency is to swing to a point where issues in the business are not discussed with the excuse (notice the tendency again) that the issue is below the line. This doesn’t give permission for a business to white wash issues in the business. What is does change is the ownership and responsibility for changing the issue at hand. If projects are late, that is a fact. The question is what must change in the business to ensure projects are not delivered late, that your customers have the experience stated in all the promotional material.
Businesses have lived for years in below the line thinking and attitude. They stay in business, they grow, they pay the bills and serve customers. What impact would the business make with an above the line attitude? Profits would increase. Less time would be spent on blame and poor productivity. Productivity would increase with energy due to the positive atmosphere in the business. The examples abound.
Yet, you must be ready to make the change. Your dissatisfaction with the results, profitability, long work hours, people avoiding you since they dislike being around negative, blaming people, etc., must be at a point where it is higher than your resistance to making the change. It is easy to live below the line. It may not be fun, but it is easy and there is a great deal of company. When I ask my clients do they want to be average, the resounding answer is NO. They want to be above average. To make that happen, your mindset must change to one of excellence—above the line thinking— and you will be amazed at the results.
Entrepreneurs and setting goals is a popular topic. Dan Sullivan had a perspective worth sharing in the May issue of Success Magazine. The concept is rather than trying to double or 2 times where you are– go for 10 times where you are. “WHAT?” I hear you all scream. “It is hard enough to achieve 2 times where I am, how on earth can I even consider a 10 X goal?” That is exactly the point.
A 2 X goal is really just pushing what you are already planning into the future (assuming you are planning). The ability to achieve the 2 X goal is a probable anyway. There really isn’t rocket science, you know the basics—hard work and you will achieve the 2X goal.
Now for the 10 X goal that starts pushing you out of your comfort zone. I can already feel the squirming. A 10X goal forces you to look at what is really going on in your business. It forces you to look at inefficiencies. It challenges you to think out of the box, to put systems in place to handle 10X, to understand your business, structure your business, and PLAN. You must now think differently, observe differently, plan differently and execute differently. Once you start thinking 10X you will notice opportunities, changes, and perspectives. Then you can start making the changes that are required.
Here are my perspectives and 4 ¾ downsides to this type of thinking:
1. Shooting for 10 X – you might not make it, you might only reach 5X.
2. 10 X thinking creates perspectives on your business and forces planning.
3. You don’t know how to think 10X? What better way to start looking at everything from a different perspective? Read, ask, get advice, reach out to others, be humble. Even if 10X is achieved, I guarantee your 3, 4 and 5X will be more profitable.
4. For 10X I need to look outside the box, and that creates FEAR. False Expectations Appearing Real – so what are your real fears? Figure them out, since they will probably keep you from achieving 2 X. There is no better time than the present.
4 ¾ Reality is I don’t see any downside to 10X type of thinking. The danger really lies in 2X thinking. Thinking too small limits your potential, who you can be, and can lead to my favorite quote: “Hell on earth is seeing the person I could have been!”
Embrace Conflict – it is good for you.
Conflict is part of everyday life. If you have a business, marriage, relationship without conflict then you essentially are an ostrich with your head in the sand, which is the equivalent to being a yes man – which means you agree to things even if you don’t agree to avoid conflict – which is in and of itself conflict. One class I would recommend every business owner take is a mediation or conflict resolution class. There are books on the subject. One is “Getting to Yes: Negotiating Agreement Without Giving In” by Roger Fisher. For me it was a hard book to read – but I really enjoyed it on audio. The sooner you learn how to deal with conflict the better off life will be.
One of my clients was engaged at the time. Life was sweet for both of them. They enjoyed being together, they were obviously in love with each other, yet trouble was brewing. Every time he wanted something and she disagreed, she caved in. This was very evident in the business environment. It had been his business; she was new to his business, yet was very accomplished on her own and actually has better business sense than he did. Yet, what happened every time she suggested something and he disagreed, she would back down, both in business and personal. He even stated that he wondered when she was going to stop becoming so agreeable. It will happen and for both of them it will be a time of rude awakening as neither had really learned how to negotiate. They hadn’t learned the art of give and take and how to move both their ideas forward without squelching the spirit of the other person.
Couple of points on conflict resolution:
1. It isn’t always about getting what you want – learn the art of compromise.
2. If it is all about you – then the “we” part of any relationship won’t be long term.
3. Make sure you get the complete picture – stop assuming – remember what assume means. If you don’t know – then break out the word assume into 3 syllables – you get the picture.
4. Life is about negotiating – learn how to do it well, then apply the same art within your business and within your family.
Emotional Intelligence is the ability to recognize, understand and use the power of emotions to facilitate high levels of collaboration and productivity. In essence, it is the ability to effectively manage emotions.
Effectively manage emotions ?!?!?!? For many employees, employers, business owners, families the business is run by emotions. Emotions are a God given gift, yet when those same emotions are used as stick the emotional climate of the workplace deteriorates. For many this essentially becomes workplace bullying. Unfortunately many school yard bullies grow up to be workplace bullies. They have not figured out how to utilize the power of emotions in a positive way. Nor have they learned to walk away from situations which create negative consequences.
The resulting affect to the bottom line profitability is absolutely huge – to a level of billions of dollars wasted each year addressing these issues.
Most of the emotions that cause employee performance and then also business performance is anger and fear. These feelings are intense and impact their ability to think rationally. Here are some impacts to the business from the lack of emotional intelligence in the business:
• Creativity shrinks as panic is the enemy of creativity and learning
• Employee turnover goes up due to unhappy employees
• Business growth potential plummets as people lose the courage to speak up
• Cost of recruiting goes up due to training and retraining of staff
• And the list goes on.
What is your emotional intelligence?
Part 2: Building a high emotional intelligent business is well worth the time and effort.
For a starter Being effective means:
• Understand when and what to say in certain situations.
• Knowing when to stay quiet (yes this is different than the above item.)
• Having empathy for the situation and/or individuals with whom you are dealing. That also means knowing the definition of empathy – so you can have empathy.
• Knowing and having a plan for WIIFM – what is in it for (me/them)
• Using diplomacy. There is a difference between being direct, diplomatic and being candid. Each of them has their place and time. My perspective:
o Being direct is telling it like it is without beating around the bush. There is no roundabout way it is straight through
o Being diplomatic gets the same point across, but there is a ramp up time, setting the stage, understanding where the other party is coming from BEFORE you deliver your message. Diplomacy is critical, yet sometimes the message gets lost in the process.
o Candid includes a level of openness, sincerity, not rehearsed. The message can be direct, yet it also takes into consideration the message and how it will be received.
Here are some practical tips:
• Ensure your leaders have the right emotional behavior
• Always be training on how to improve. You can’t improve your IQ, but you can improve your Emotional Quotient or EQ – so create a plan.
• Have a culture of continuous improvement and get buy in from everyone – or buy out (i.e., a path for them to leave the organization).
• Celebrate success which is the same for all aspects of the business. Too little is done to celebrate and too much focus is on what wasn’t accomplished. This will affect your EQ.
How does this affect profitability? According to John Maxwell, people leave people not companies. A company full of people with no EQ will be a revolving door. There will be a continual hiring process with no one staying long enough to be really good. Therefore profitability suffers due to lack of continuous improvement. One of my clients has had this issue and we continue to work on the impact the lack of EQ has on the organization. Staff is tired, demoralized and looking for opportunities that value them for their work, value them for what they offer and help them enjoy doing their job. If correcting that issues doesn’t improve profitability then give me a call, that is just the tip of the ice berg.
How well does your business understand EQ?
For the last few months I have been working on a book. The working name is: Running a “Successful” Family Business Without Destroying the Family.
The process has been fun, the compilation of information has been interesting the writing has been enjoyable. Here is a bit of the very rough draft of the introduction. Be looking out for more to come, many more stories and practical hints and the publication in Q1 of 2013. Let me know if you want to pre-order a copy, there are some additional bonuses for pre-orders.
The book focuses on the joys, challenges, opportunities and threats encountered in the family business… those many little realities you wish you’d known about beforehand. Your family, employees and the future of your business depend on your inter-relationships to each other and to the team in a charged, multi-generational environment. The outside worlds, i.e. your customers, win when your family business succeeds.
There is an old saying: Blood is thicker than water. This is usually true even when the families are not close and/or don’t get along. I may not like my brother, but you had better not pick on him, or I will come out fighting. Family ties are far stronger than normal relationships of employer to employee, friend to friend and even spouse to sibling.
Families are at the heart of most all societies. Statistics indicate there are more than 16 million small businesses in the US alone. Small businesses range from home based environments to structured operational businesses environments with employees and multimillions or tens of millions of dollars in revenue. Family business is at the heart of 80 % of small businesses in the US. Working for a family business – when you are not family can have great rewards and great challenges.
This book focuses on the joys, challenges, opportunities and threats encountered in the family business, both to the family, the employees and the future of the business. The inter relationships between the family members to each other, to the team, the generational environments and the outside world i.e., their customers.
The research from the book is based on years of up close and practical experience. Yes, there is research proven in standard research methodology, however most of the stories and research is from years of running businesses and business coaching. It is that real life experience that is mostly at play here. Volumes of research in standard research methods are critical, but don’t account for the up close and personal reality.
My journey in life has taken me through a number of family businesses. This starts with my Dad and being involved in a family business growing up – it was called a farm. Grandpa was the business owner, Dad and his 5 brothers were the employees, Grandma also ran the business from the house. Employees were hired during the busy season and they moved on during the slow season. Work needed to be done, crops needed to be harvested, bills needed to be paid and the future needed to be secured. It was a family business in all ways. Much was learned and from that family business 2 of the brothers continued in the tradition, yet in what is very common, it didn’t make it past the second generation. The brothers chose to sell that family business and either retire in one case and move on to a job in the other. The 3rd generation wanted no part of it.
What is your family business story? Let me know.
Being thankful for struggles???
There are so many articles, comments, posts on Thanksgiving that the thought of adding to the list almost stopped me from writing this. Then I stopped and realized all the things I am thankful for. The one you probably don’t expect is at the bottom of the page. Here is my short list:
• My relationship with God. He is the source of my strength, the peace which passes all understanding (especially mine) and my guiding light so I am never in darkness.
• My husband who is patient (you have to be when living with me!!) He teaches me patience and how to serve with a continual good attitude
• My son who is turning out to be a wonderful young man. Full of deep thoughts, challenging the thought processes of others (in a good way). He is articulate and more mature than many adults I know.
• My friends. Where would I be without them? The older I get the more I appreciate the value of true friendship and the loneliness that comes when they aren’t around.
• My family. We don’t choose them, but love them for who they are and what they teach us. Some good, some bad, but they are still family and we are entwined with each other
• My clients. They motivate me, encourage me, and challenge me. I love seeing their growth and I am thankful for the trust they put in me to coach them toward the growth they desire.
• My country. There has been much frustration lately through the election. I am saddened by the division I see and there is much I don’t understand. Yet, we can’t lose sight of what we have in this country. We must fight to preserve what we have and understand how to grow in a new world. I am thankful to be able to live in Colorado Springs.
• My struggles. Bet you didn’t expect that one. Without struggles I would not grow. Without struggles I would not appreciate the good days. I would be uprooted by the smallest issue without the daily challenges that life brings. Struggles/challenges what ever word you want to use become the core of what makes us strong. At each moment I may not appreciate the struggle, yet the refection allows me to learn, apply, grow and become who I am meant to be. Failure isn’t an event it is a process. When we were children and learning to walk we fell countless times, but had the perseverance to try again. We also learned how to fall which built up the strength in our legs and arms so walking would come more naturally. Embrace your struggles, be thankful for them – I am.
I have much to be thankful for and I am thankful. Every day is Thanksgiving Day – let’s start that habit right now.
Call or contact Janna Hoiberg online to schedule a free, initial consultation.
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