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Monday, 19 October 2015

I Quit!







If you’re a good (or even just halfway decent) manager or leader then you probably already know most of this,

1. Be dishonest.
Integrity matters. Most good employees – and all great ones – have integrity. So, lying to them, to their co workers, or to customers / suppliers is sure to turn them off. Even just “little white lies” are all sure to catch the private ire of those employees who can best help you and your organization succeed. Don’t think they don’t notice; they DO.

2. Don’t say “Thank you.”
It’s a small thing, but it really does make a difference. Even small gestures of appreciation, complements on good work, acknowledging that someone stayed late / came in early help keep talented people motivated and engaged. A small gift card, permission to leave early for the day or work from home the day before a holiday (if work is getting completed), a kind word, an email, all of these things cost very little but go a long way. I suggest making a point of doing them.

3. Forget the values that made your organization a success.
I’ve been part of organizations that truly lived their core values. We all knew what they were. We all agreed they were important, or at least accepted them as such. I have been in companies that barely even mention their values – and really, what that says is, “Our core value is to make more money for our owners, whatever it takes.” Not exactly compelling, but that’s what is being conveyed.

4. Don’t take time to listen (to their concerns).

Good people almost always actually want what is best for the organization. They may have differing opinions on what that is, but they can be passionate, even fiery about it. If you’re dismissive of their concerns, you’re headed down the road to losing top performing people. Just what kind of weak, arrogant, incompetent, narcissistic leader doesn’t want to hear things anyhow?

5. Ignore their personal and professional development.
Note that there are two dimensions to this – professional development and personal development. I would include leadership skills, street-smarts, maturity, self-awareness, EQ, general health and well being all as part of this. Leaders only follow stronger leaders, so be sure you are mentoring them. Let them learn from you; telling good stories from your experience can be a great way to do this. Help them become better professionals – and better people. Additionally, don’t delude yourself into thinking that their career growth is their problem. It isn’t; it is your problem so make a point of investing in it and top notch people will likely repay you for this with good work.

6. Don’t be selective who you hire in the first place.
We all know that hiring people who really fit and are highly talented is tough. We know that the repercussions of a bad hire are awful for everyone. Make sure people really will fit into your organization. Let’s face it, a half hour “get to know you isn’t really enough to get to know a prospective employee well enough to make a truly informed decision. Talented people often don’t mind a tough (within reason) selection process because they are usually competitive people who thrive on challenge. Invest the time needed to really explore what makes a person tick before you hire them. Oh, and by the way, talented people want to be around other talented people.

7. Micromanage.
Do I really need to go here? Yes, unfortunately. It’s not just classical micromanagement either. I’ve seen truly exceptional people who excelled in their role end up with their jobs “dumbed-down” to cater to the lowest common denominator, and to the point they were no longer challenged or motivated. Needless to say, it wasn’t long before they were looking for an opportunity somewhere else.

8. Set the bar low.
Great people will get discouraged and either leave or adapt to mediocrity if that is what they perceive is deemed acceptable. I’ve seen mediocrity accepted, rewarded, applauded, and even promoted! The impact of this on team morale (and on the highest performing team members) was palpable. Set the bar high and then become a cheerleader – even if people don’t make it over the high bar, point out how high the bar was set and how high people did get, and celebrate the success they did have at the right level. They may just make it over that high bar the next time.

9. Be cold and uncaring (to them and to their co workers).
People are human. Why do we seem to forget this so often? They have personal struggles, ambitions, families, crises, etc. One of my favourite bosses from the past was a gentleman who knew my wife’s name, my son’s name, my dog’s name, and more. He didn’t go beyond appropriate boundaries, but I really knew he cared about me as an employee and as a person. I knew I could talk to him and he’d help me out however he could. He got a lot of loyalty from me in return. I should also point out that talented people watch how you treat other people, and they take note of it.

10. The “usual” things (under-pay them, intrude into their personal lives, harassment, etc.)
Yes, the “usual” things will usually get a good person out of your organization as fast as they can possibly find an opportunity elsewhere. Incredibly, I’ve seen organizations under-pay very good people. One executive even said to me, in private, “Well, just what are they going to do? Leave? They have no place to go. This was disappointing to say the least, and I lost a lot of sleep over it. Plus, it wasn’t long before people actually did have someplace else to go, and go they did.

Monday, 12 October 2015

What It Really Takes To Be The Boss






Many of us aspire to big roles at work — we want to be the boss. Of course, once we get there, it’s not always as glamourous, or as easy, as we had imagined it would be. That’s especially true for entrepreneurs.




The secret to excelling at being in charge are subtle, but important. It’s a topic several LinkedIn Influencers weighed in on this week.


Here’s what two of them had to say about what it takes to be an entrepreneur and the head honcho.


Richard Branson, founder at Virgin Group


“I’m often asked, ‘What does it take to be the boss?’ It’s a hard question to answer,” wrote Branson in his post What Does it Take to Be the Boss? Managers Versus Leaders. “In my opinion, there are two types of bosses: managers and leaders.”


A leader’s role, he wrote, is to work with people “to change the lives of others for the better”. Management, on the other hand, is “about maintaining processes, disciplines and systems. Where managers keep the rules, leaders have to be willing to break them, or at least find creative ways around them”, Branson wrote.


Both are important in business and to being a boss, but “it’s critical that you possess leadership qualities”, especially if you want to go into business for yourself, he wrote. The key, he wrote, is to have both types of people in a company for the best chances of success. “The business world needs both managers and leaders to fill the role of the boss,” Branson wrote.


“When you believe in something, the force of your convictions will spark the interest of others — helping you recruit people that share your vision and are motivated to help you achieve success,” Branson wrote. “And passion is not only just a handy recruitment skill; it will also help you strike up meaningful relationships and partnerships with other entrepreneurs and business people. Many of these… will likely be great managers who can help your business grow.”


Ron Shaich, founder, chairman and chief executive at Panera Bread


“Say the word ‘boss’ and most people imagine a well-heeled executive, jetting between meetings and bellowing directives that a faithful group of employees dutifully carry out,” wrote Shaich in his post Want to be the Boss? Better Know Exactly What it Means. “Not exactly.”


“To me, being the boss… has meant solitary hours contemplating challenges,” he wrote. “It’s meant sleepless nights weighing options before making hard decisions that no one else wants to make and knowing that their success or failure is ultimately my responsibility. It’s meant sweating the details.”


Shaich offers what he calls “the harder truths about calling the shot”. Among them:


“Usually, the business owns you; you don’t own it,” he wrote. “Building a business is all-consuming — as in, it consumes all of your waking hours and many of the ones you should be sleeping. It’s with you in the car, the shower and on vacation. Most people who build businesses can neither turn off nor throttle down their commitment to their pursuit.


“You’ll have many opportunities to make decisions because a boss’s challenges are never-ending.


“As long as that business is your responsibility, you will need to think long term. You will need to innovate, iterate and improve.


“Ironically, if you are successful, you will not be beholden to fewer constituencies; you will be beholden to more.”


If it sounds daunting, Shaich wrote, it’s still something he’d never trade for something easier.


“While being the boss can feel at times like a long and lonely journey, there is a payoff — and it’s not power or money,” he wrote. “For me, it’s the joy of solving problems no one else can. It’s seeing opportunities others miss and developing strategies others can’t imagine. It’s building a venture from the ground up.


“Being the boss is infinitely rewarding when you truly understand what you are working toward.”

Monday, 5 October 2015

Great Business In Bad Weather !




The exploration of weather's influence on sales reveals that inclement weather often influences retail sales negatively. Retailers can predict some of these trends using long-range weather data along with sales by month across several years, and reduce profit loss even when the weather is undesirable.
Weather influences in a number of ways. Inclement weather keeps foot traffic away from brick-and-mortar stores driving customers to online retailers, which can reduce sales as much as 10 percent. Bad weather also prevents traveling and closes stores.
Not all retail stores are negatively affected by bad weather. Retail pharmacies, for example, sell necessities such as prescription and over-the-counter drugs, and the resulting sales are stronger than other retail segments. While it seems counterintuitive that people would shop for optional items during bad weather, highly popular clothing stores and those that cater to teens can experience growth during a bad winter, at least more than other stores. Sales are partially dependent on what customers consider a necessity. The fact that inclement weather's influence does not reduce sales across the board suggests that retailers can plan effective strategies to cope with weather.
Managers can cash in on these trends in weather by paying attention to when customers tend to buy certain items in response to weather and then stock stores accordingly. A leading auto company did this by noticing that older automobile batteries tend to die after a few days of below-zero weather. Following such a spate of weather they advertised the batteries. A second way to monetize weather's influence in the retail sector is to make staffing decisions based on weather reports, calling in fewer employees during bad weather when fewer customers are expected to shop.
Making money from thoughtful decisions about the weather's influence and the resulting sales can be bolstered by data analysis. Relevant data can include long-range average temperature in bad weather months and other weather data, sales during those months. While large companies have in-house analysts, tools exist on the web that allows people without specialized statistical training to plan effectively around weather events.
The weather's influence can drive profits up or down; depending on how carefully you plan for handling bad months. These strategies may not directly increase profits but they may effectively reduce loss, saving the company from financial hardship.



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