Is Your Purpose Powerful Enough?

Building Sustainable Business

Idea Go FDP 2014

A strong purpose provides a major component of your businesses foundation.  It is at the base of any successful visionary business. Some believe it might be the most important component and I happen to be one of them.

It is a fact the greater your sense of purpose, the more powerfully and energetically you will be driven by vision, and less swayed by inevitable setbacks and detours.

The details of marketing and running a business are important. However, you need to incorporate those details and skills over a strong foundation of compelling purpose. What may happen when that foundation is not there, the temptation to walk away when things get difficult – or even just slack off when there’s boring work to be done – can be overwhelming.

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4 Favorite Business Questions I Ask

Courtesy artztsamui & FreeDigitalPhotos - Questions for Growth

Courtesy artztsamui & FreeDigitalPhotos

It is standard knowledge that in the coaching and consulting world, the best people are known by the questions they ask to solicit constructive responses.  While we won’t build a whole session on only 4 questions, they actually become door openers that will allow you to dig deeper with your clients. Business owners can also use these questions to examine their own businesses.

When we deal with companies of all sizes the core data and driving principles should be the same except they will vary in volume.  To discover the overall health it is best to focus on the core areas to determine if the company is needing assistance, solid or is poised for growth. The areas we focus on deal with employees, customers, processes and finances.  Getting a pulse from only four questions can be difficult if you don’t ask the right questions or you aren’t listening to the answer.

So, what can help you as a business owner, consultant or coach? Concentrate your questioning around these key issues. If you don’t have these four questions built into your repertoire, MEMORIZE THEM!

1. Do you measure employee engagement? If no, then why not? If yes, then how often do you do it, and what do you do with the results?

2. Do you measure customer satisfaction or loyalty? If no, then why not? If yes, how often do you do it, and what do you do with the results?

3. Do you proactively use the results from 1 & 2 to effect improvements in your business processes and offerings? If no, then why not? If yes, then how often and how deep do you dig into the data?

4. Do you examine current cash flow on a regular basis? Does it allow you to return cash to shareholders, pay down debt, and/or borrow more to grow faster? If not, how much do you need to do so?

Here’s a brief explanation of why these 4 questions can make a big difference in examining any business whether as an owner, consultant or coach.

Employees

No company, regardless of size, can remain competitive and be sustainable in their chosen market without employees who believe in the mission and know what they need to do to achieve it. It’s critical for all companies to measure the level of employee engagement at least once a year … anonymously.

Senior management should be looking for more relevant data than finding out if they like the coffee in the employee lounge or are they happy with the current office colors. In fact, neither of those questions should be included in any employee survey! The value of employee engagement surveys lie in asking meaty questions that people deal with every day and may or may not communicate with leadership.

Here are some samples:

  • How do they feel about the leadership of the organization?
  • Do they know and understand the strategic objectives of the owner or executive team for the next five years?
  • How do they feel about the people processes and opportunities offered by human resources?
  • Do they feel they personally impact the company’s business results?
  • How comfortable they are with the way the company establishes and reviews rules and processes?
  • Do they understand and support how the company develops knowledge and data for future growth?
  • How comfortable are the with company processes when it comes to interacting and supporting customers?

Customers

Customers are the next link in every “successful company”. Do you know if you’re providing the products your customers need and are servicing them in the way they expect? To find these answers, ASK, of course! Don’t just ask your good customers; ask the ones who haven’t ordered in a while or the ones who don’t order at the volume they did previously. Asking them one simple question, “How likely are you to recommend us to a friend?” will speak volumes and help the company with defining the business direction. Asking more in-depth questions will uncover other opportunities, IF leadership is open and creative in listening.

Processes

Every active business will have processes and rules that drive interactions between employees, customers, vendors and service providers so understanding the nature of the current processes can open a whole different perspective into the stability or volatility of the company.

Sometimes, when you are a business owner, the processes have been in place for so long that it is second nature to everyone but are those processes still current and effective or have they become burdensome for everyone. Many times people will do things out of habit and not even think about the benefits or costs of that activity.  For example, I have seen operations where they will process invoices for less than $1 due to principle but not recognize that it costs them $35 to cut and collect that $1.

Dealing proactively with your employees and customers will definitely provide insights into the value or lack thereof in your processes but what you do with that information is critical to making your company grow and contribute to the community.

Finances

Lastly, there are finances. If you ask any business owner how they measure their finances and cash flow, they’ll have an answer for you, for sure. But be sure they’re specific about the definition of cash flow. Most profit and loss numbers have been massaged through the accounting process, depending on the package or processes they use. They need to be looking at true, raw cash flow and how it moves through the company.

So, how can all of that help you as a business owner, consultant or coach? Concentrate your questioning around these key areas.

Asking these questions, employing proper assessments to ferret out more information, applying processes to effect a change, and measuring the results will help YOU grow your business or for consultants or coaches it will help you develop repeat and referral business because your clients will be both healthy and happy with their results!

If you have any questions, we can help you develop questions, processes and change management for your specific situation.  Please call us for a free evaluation or to answer any questions at 630-935-3326.  Check out our Transformative Leadership Group website.

5 Culture Movements That Are Permeating Your Company

courtesy of Stuart Miles at FreeDigitalPhotos.net

courtesy of Stuart Miles at FreeDigitalPhotos.net

Since well before the start of the Industrial Age, companies have existed by a command and control leadership culture model and hunkered themselves down behind corporate walls of silence.  It worked well, in many peoples minds, until we entered the Internet Age.  Since then there have been a number of movements that have affected that structure and they are actually starting to change those antiquated processes and rules.  Now, some will say this is a disruptive change that is not a good movement however this author believes it is the next evolution of the global business world.  We are going to look at five of those movements so you can see how well you have adapted your company or not!

As we progress through this period we must realize that many companies have a major disconnect between their brand, business, marketing and contemporary culture.  These companies must learn how to use the reconnection as a lever to increase their brand, business and marketing.  Our companies are no longer islands unto themselves, able to drive demand of customers and command employees without respect and a global passion for doing the right thing at the right time with the right people. Continue reading

To Grow; Make Yourself Uncomfortable!

Kromkrathog FDP 2014

Kromkrathog FDP 2014

Those of you who have known me for some time know that I love to read and learn.  Many times this process has left me feeling rather uncomfortable because I ran into something that I was either doing and shouldn’t be doing or not doing when I should be doing it.

If it wasn’t so painful this could actually be a funny scenario.  Sounds like it should be fairy tale doesn’t it.

Well,

Once upon a time there was an Old Boss in a country far, far away.  He loved being a Boss because he was able to see people expand the profits of his company by telling them to learn and do new things. He thought he was successful but over time profits began to sag and sales slowed.

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Why Influence is Important!

Today’s world is a confusing one for our personal and career planning?  First of all, we don’t do enough planning and when we do, it is perceived as self-centered and negative for others in our area of influence.  We are influenced a thousand or more times a day and there is some level of backlash occurring in the market today. This is a graphic that represents the 12 companies that vie for our attention.

12 Brands with most influence 2014

Advertisers attempt to convince us to buy products or services daily in print, on TV, radio and the internet. Many times we feel this is a burden or an invasion of our privacy but the fact is that we need influence to help us understand the things we don’t have an immediate knowledge of regarding a purchase, career or service.

For example, many families are dysfunctional enough they cannot make a decision of what to do for a vacation, so many times they are ignored or engaged in a combative dance for a week or two. What happened to influence in this situation?  Well, generally it was ignored because everyone had an opinion and they would only settle for their own opinion being recognized.  No one entered the conversation with an attitude of WIN-WIN as recommended by virtually every self-development guru I know.

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