Posts tagged as:

Business Basics

Bad times can make you bitter or better

July 23, 2009 · 2 comments by Terry Lauter Comp

in Business Strategies, Economy, Leadership, Management, Performance Management

I have long been a fan of the “Wizard of Westwood”, Coach John Wooden. The legendary UCLA basketball coach’s phenomenal achievements in basketball probably pale in comparison to his contributions as a teacher and developer of young mens’ character. Wooden still to this day uses maxims or “Woodenisms” to teach important principles of life. One seems particularly fitting for the current economic condition in our society:

“Bad times can make you bitter or better.”

NCAA CONVENTION Doesn’t this capture one of the inherent truths and ultimate “silver linings” that will likely spring up from the downturn of 2008 – 2009? In simple terms, we are personally and as leaders challenged to get better – to improve organizational performance by creating and leveraging improved individual performance. As individuals, we are challenged to make some tough choices and take actions that may have been easier to avoid or ignore in the past. The easy fixes haven’t worked. Giving employees an “E” for effort is simply not effective. Apathy is no way to retain good customers. Low performers are not being helped by allowing them to do and be less than they are capable of.

It’s 2009 and America is in the midst of a recession that has created an unemployment rate nearing double digits. We have two choices: Get bitter or get better. As leaders, we are called to dig deeper, tackle our fears, and do the hard work that others won’t or can’t do. To survive now, and thrive after the recession is over, the choice has essentially narrowed to this: Get better.

Recession or no recession, every day that we’re alive, we must improve, grow, advance. Bitterness and defeat is not a viable choice, is it?

{ 2 comments }

“Getting Real” in Today’s Economy

June 24, 2009 · 0 comments by Terry Lauter Comp

in Business Strategies, Economy, Employee Communication, Management, Supervisory/Leadership Training

comm We’ve all seen the headlines, and heard the very real reports of salary freezes, forced time-off, and 401(k) matching “vacations”, not to mention lay-offs and closures. Clearly, many companies and their employees have been significantly impacted by this current recession. While we are beginning to see light at the end of the tunnel, experts say that we can still expect some months before the employment picture improves significantly. Still, there is no better time than NOW to start thinking about lessons learned this time around, and how we can be better positioned for economic downturns in the future.

What have we learned? One lesson that comes quickly to mind is that most organizations have simply not prioritized educating their employees about the financial realities of their business and their compensation and benefits costs. Organizational leaders may have any number of compelling reasons for this omission, but the truth is that they are all excuses. Sacrificing the urgent for the important usually catches up with us, and catch up it has.

So… better late than never! Here are a few things you can do in 2009 to start turning the tide. A well-informed workforce is not only important because people will be less apt to complain, it is essential because these are the people who will provide the engine for your turn-around. In this era of reality-entertainment driven by a hunger for authenticity, it’s time to get real. Take the time to clearly and honestly communicate:

Your short-term financial goals for the business
The specific things individuals in different roles can do to drive goal achievement
Where you have made significant cuts in expenses, and why
Why you are continuing to invest in people via your compensation plan, and how much money you spend in that plan annually
Why you are continuing to fund Benefits, and how much you spend on those programs

These are just a few of the facts that employees definitely need to learn. Unfortunately, it wasn’t urgent until now. What else is more important than ever before? Take the time this year to “get real” with your team. It’s that important!

{ 0 comments }

Working Smart: Focusing on the Vital Few

May 22, 2009

We all see so much wasted time at work, that I am always amazed to hear that the U.S. is one of the most productive nations in the world. Busy-ness seems to be replacing effectiveness as people go to endless meetings and spend hours sending and receiving emails.
Every once in awhile, I have to remind [...]

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What is Your Unmatched Customer Value Proposition?

May 21, 2009

Have you noticed that it is getting harder and harder to compete in today’s marketplace? As customers demand and expect more, we must ensure that we offer an unmatched value proposition to our target customers. In the book, “The Discipline of Market Leaders,” the authors explain that there are 3 key value proposition models and [...]

Getting Everyone on the Same Page

May 15, 2009

Over the years I have noticed that most companies do a pretty ineffective job of strategic planning. We all know how important strategic planning is to the long-term viability of an organization, but what’s really going on here? Well, many organizations never seem to get around to tackling this critical function. Others take a handful [...]

Peter Drucker Nailed It!

May 13, 2009

Several years ago, I had the privilege of hearing Peter Drucker, the “Father of Modern Management,” speak. At the time, he was already very old and nearly deaf, and didn’t seem to realize he was almost speaking in a whisper. The audience, however, was in total awe…and you could have heard a pin drop. I’ve [...]

Unlearning Lots in A Brave New World

May 11, 2009

You could easily accuse me of being a bit “over the top” about lifelong learning. I practically live for new books, new ideas, stories and concepts that I’ve never been exposed to before. Truly, I belong to the “cradle to grave” school of philosophy about the importance of continuously taking your education to a new [...]

Be a Value Builder

May 8, 2009

Several years ago, I was reviewing some Audio Tech Book Summaries and learned that organizations tend to fall into 4 operating profiles. These profiles are largely influenced by the Chief Executive.
The first profile is Underperformer and this is the worst. In this case, the organization lacks adequate focus on revenue growth or cost savings.
The second [...]

Key Business Strategies to Fuel Your Growth

May 6, 2009

Some organizations seem to operate without a business strategy, while others have way too many. We have guided many of our clients to focus on a half dozen, specifically:

Focus on profitable growth. Seems pretty basic, but it’s amazing how many companies experience declining profits, while their businesses are actually growing!
Start with the market and work [...]

What Can the Grateful Dead Teach Us About Business?

May 4, 2009

Each morning, when I turn on my computer, I am greeted by a new inspirational quote. Most of these are thought-provoking and I have saved hundreds of these gems over the years.
Surprisingly, one of my favorite quotes comes from Jerry Garcia of the famous 60s Rock Band: The Grateful Dead. I’ve seen a number of acts over [...]

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Business Basics

Bad times can make you bitter or better

What is Your Unmatched Customer Value Proposition?

Peter Drucker Nailed It!

Unlearning Lots in A Brave New World

What Can the Grateful Dead Teach Us About Business?

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