Tuesday, May 20, 2008

The Milkshake Moment

Copyright © 2008 Steven S. Little


What I've come to learn is that growth leaders are distinctive not only in their actions, but also in their attributes. These specific attributes are more like personality traits than true management skills, and they ultimately build trust:


  • Timely
  • Realistic
  • Unscripted
  • Sensitive
  • Transparent

Timely -- Every day I deal with people who say they want to grow their company, community, or association. And I know they truly mean it. Often one of the key factors that impede their progress, however, is how they choose to allocate their time and that of others. When I look at how they actually spend their time, I find that they revert back to their default setting -- what they know best. They fill their days working on the tasks they are most comfortable completing.


In contrast, successful leaders devote the majority of their time to those areas that truly need it. They make timely decisions as often as decisions are needed -- no more and no less.


Time is not something to be filled with activity for activity's sake. Leaders understand the nature of time and are skilled at prioritizing it to make an impact. They understand that being timely does not come from Day-Timers, longer hours, or an increasing workload. For some, this prowess is innate. For others it is a skill that must be honed through experience. Yet make no mistake about it; it is impossible to lead a growth charge without mastering the importance of time.


(Most managers simply get up and do what they want to do. Growth leaders get up and do what needs to be done.)


Realistic -- Many joke that reality is overrated. It certainly is easier to don our rose-colored glasses and see only what we want to see. What distinguishes growth leaders is their unrelenting focus on what really is and what truly can be. While positive thinking has its place, delusions are dangerous.


"Our product is the best." "Our team is superior." "Our customers love us." "Our cause is more important than any other." Really? Let's can the empty slogans, take down the banners, and throwaway the T-shirts. Today, it takes a pragmatic realist to separate the true picture from the conventional groupthink.


Facing reality isn't merely a good idea; it's an imperative. Your organization is depending on someone to challenge the organization's most closely held beliefs today. Why couldn't that be a leader like you? Too often, closely held beliefs are kept on our shelves long past their expiration dates. Growth leaders seek only the truth and welcome any and all reality checks.


Unscripted -- Today our world is filled with skeptics. People are simply jaded, and why shouldn't they be? Over the past 50 years we've lived through disgraced presidents, dubious armed conflicts, pilfered pensions, and "new and improved" products that are clearly neither new nor improved. We live in a world where much of what comes at us from organizations is spin, propaganda, and distorted half-truths. It should be obvious to any twenty-first-century leader that many people are reluctant to believe anything. Everyone's bullshit detector has become finely calibrated.


What we long for is authenticity. We want leaders who speak plainly and from the heart, not from talking points. We want bosses who reject corporate mumbo jumbo. We want professionals who don't cloak themselves in a blanket of CYA-speak.


In order to lead, it is critical to master the authenticity. Reject the tired clichés, lose the latest buzzwords, and say what you mean and mean what you say.


Sensitive -- This is a loaded term. While it has many definitions, here I mean perceptive. Sensitive leaders are acutely aware of their surroundings and are keenly observant. They have an intuitive knack for understanding the motivations of others. They are able to feel the barely perceptible winds of change long before the actual storm. They have the uncanny ability to gain insight from seemingly disparate data.


How well do you read others in complex social situations? How much do you trust your gut feelings? How well do you handle displays of emotion in yourself and others? How easily do you move from perception to action?


Most growth leaders are naturals at these types of skills. Others need to regularly extricate themselves from day-to-day activities to work on them. Either way, being sensitive is an attribute that gives leaders another arrow in their organizational growth quiver.


Transparent -- It's human nature not to trust those who attempt to hide things from us. For instance, when an organization gets into trouble and spirals downward because of a public relations crisis, it nearly always has something to do with not being transparent. Most of the great corporate and political scandals of the modern age have had more to do with cover-ups than with the original act of wrongdoing itself.


In contrast, people and organizations that are transparent in their actions are the ones that consistently grow and come out ahead in the long run. Those who are forthcoming with information -- good and bad -- can more effectively lead a team to accomplish great things.


An organization itself can and should be transparent, but to be so it needs leaders who are transparent in their actions. An active beehive hanging in a tree looks to me as ominous as the Death Star in a Star Wars movie. I definitely don't trust it. But have you ever seen a cross section of a beehive? By placing it behind glass we can see the fascinating inner workings of an efficient organization. Somehow, knowing what each of those busy bees is up to puts my mind at ease.


Employees, customers, vendors, and shareholders know what to expect from transparent leaders. Fostering transparency takes commitment and confidence. It can be tempting to hide problems, but the transparent leader knows that the truth eventually slips out anyway -- and often looks worse than it did originally. As an ancient Eastern adage says, "Three things cannot be hidden forever: the sun, the moon, and the truth."

Saturday, May 10, 2008

The Who, What, When, Where, Why and How of Joint Ventures

Copyright (c) 2008 Christian Fea



What is a Joint Venture?



When two entities enter into an equal partnership, this is a joint venture. The essential defining factors of this union are equal risk and equal reward. That means that each party will divide the costs evenly, and will also share the profits. The parties may enter into a legally binding agreement that covers the responsibilities and expectations of each. Later, we will discuss the different forms a joint venture can take. First, we will get a more complete understanding of a joint venture.



When is the right time to partner?



You will have to take a good honest look at your company. Consider the timeline of your success. Where did you begin? Where are you now? Where do you see your company in 5 years? In 10? After grasping that perspective, explore the key components needed to get you to your short term goals, and then your long term goals. Finally, if what is needed could be supported by partnering with a company who does or has what you need, then now may be the time to form a joint venture.



Why a Joint Venture?



Entering into a joint venture has some known benefits. The first and maybe most appealing of them is the concept of spreading the liabilities between the two parties. Most parties are willing to put in their share of equity, feeling assured that the other party is equally invested. As the saying goes, people follow their money. Because of this, entering into a joint venture is a more secure form of partnership, as both have shared the risk. Both parties' reputations and profitability depend upon their doing their part to succeed.



Where do I find the right company to align with?



You'll have to ask yourself what parts of the country or internet you'd like to reach. Or if part of your company's vision is to become international, then a joint venture may be required. Many US companies must form a joint venture with an international one in order to do business in that country. The US company must partner with the foreign one in order to be legal.



Who should I JV with?



At times, choosing the right entity to join with can seem overwhelming. After all, you have a company to run. If you have your own research and development team, they can help find the company whose partnership will help your company develop into its next level of success. However, consider that there are joint ventures brokers who can do this job for you. After collecting information of your company's vision, they can help you find the best match for you particular goals.



How do I form a Joint Venture?



A joint venture will most commonly take the form of a corporation, a limited liability company, or a limited liability partnership. Many things should be considered when choosing which is right for you. Each of these have different tax implications, and it is recommended to consult a tax professional is deciphering the best fit for both parties.




Christian Fea is CEO of Synertegic, Inc. A strategic Collaboration Marketing consulting firm. He empowers business owners to discover and implement Integration, Alliance, and Joint Ventures marketing tactics to solve specific business challenges. He demonstrates how to create your own Collaboration Marketing Strategy to increase your sales, conversation rates, and repeat business.

Contact: christian@christianfea.com

http://www.christianfea.com

Help Your Employees Build Their "Confidence Muscles"

Copyright (c) 2008 Pat Brill



Have you found when managing your employees that they bring different levels of self-confidence to their work? We know that the more confidence an individual possesses the more efficient and productive they can be in meeting their goals. If you view your role in managing employees as a mutual working relationship, then you would want to be part of nourishing their confidence.



I would suggest the following important points to use as a guide in providing support and guidance in increasing your employees "confidence muscles."



-Listen for your employee's current level of confidence as it may change given the specific project they are working on. Each person brings their personal beliefs about their capabilities to the job. As you monitor their level of performance, you can observe how they handle different situations. In managing employees, you have so many opportunities to be part of their success.



-Accentuate the Positive - If there is one booster that increases an employee's confidence it's focusing on their knowledge, skills or past contributions. Managing employees by their strengths build their confidence and in turn, adds more to the overall success of the department. Encourage your employees to acknowledge their contributions to the team. Try to use the 80-20 rule...spend 80% of your time with an employee addressing their strengths and 20% helping them handle any issues that are hampering their performance. Why...because you receive the most value from their strengths.



-Set clear direction and expectations around performance so your team members know what is expected. The clearer they are about what they need to do, the more confident they will be in implementing their work.



-Train - give employees the chance to succeed by providing training. Even if you hire talent with experience, they still need to learn.



-Plan - help your employees create and stay focused on their goals. Their planning skills should cover yearly, quarterly, monthly and daily. Each day they need to stay focus on what is important and not get swayed by interruptions and reactivity.



-Proactive - encourage your team members to be active in increasing their level of confidence. Some ways are to take on new projects, reading business or industry information, and CDs or lectures on self-confidence.



-Recognition - take the time to recognize an employee who has done excellent work. This spot acknowledgement adds to the employee's confidence and they will continue to perform. Don't assume they know that their work was great...tell them.



-Encourage your employees to take risks...either by making suggestions or trying something different.



-Follow up on a regular basis with your employees. It would be great if you could meet monthly, but at least on a quarterly basis.



==>Final Thought



Start the whole process over by listening. Your ability to listen will boost your own level of confidence as well as the confidence of your employees.




Pat Brill is the author of the blog "Managing Employees" http://www.ManagingEmployees.net . You can reach her at pat@TheInfoCrowd.com.