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How to Move Your Business Forward

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For any business, there can be times when your market starts to slow down. There could be a number of reasons why this happens, but the important thing is what you do as a business to keep your company moving forward. If you are a new business, it can be a scary experience, especially if this is the first time and you haven’t put a strategy in place. However, here are a few ideas that can help you to focus on the important things and encourage you to keep going.

Fight Your Fear

Seeing the market slow down can be a worrying time for any company. You want to do things to try and boost your exposure, but you are wary of doing something that will cost money. While being cautious is a good thing, you need to weigh up your options and see where your opportunities are. Instead of becoming too fearful, try to analyze things objectively and decide the best way forward. If you find trying to be objective difficult to do, ask a friend in business to take a look for you.

Do Your Research

Before you can start to do something about your company growth, you need to know what areas you have to target. That is why you need to do your research not just on your customers, but also on your competitors. You should also be thinking about what has caused the slowdown in your market. Is it anything that you can work against? Is there a way that you can use it to your advantage? See where your competitors are going and see if there is an area they aren’t currently occupying. That might be the angle you need to start your company moving forward again.

Researching your customer’s feelings are also a good way to see what’s changed. Send out a survey on your social media accounts or try to email your existing customers. Their feedback could be the key to finding out which way to go.

Look Within Your Company

At these times, it can be a good thing to take a look at your operation to see if anything can be changed or improved. Assess and decide if there are any processes that can be managed in a better way or if there are members of staff who would be more efficient in other areas. It doesn’t mean you have to release any staff; it just gives you the opportunity to take stock of the company. It can also be a good time to look ahead and see if there are any ways you can save money, just in case things don’t improve. Look at your suppliers – are there any that could renegotiate their arrangements? Are there any contracts that are losing your company money? If there are, you might have to consider stopping them and putting your resources elsewhere. It also means that if you manage to save a little money without losing staff, you can then reinvest that money in marketing.

Have a Strategy

Once you have done your research, you should be able to think about how you are going to keep your company growing. Why have your customers stopped using your company? Is it the same for your competitors? If your competitors are doing better than you currently, then try to see why that is, what are they offering that your business is not? It may be a simple thing that you can do which will start to grow your customers again, or perhaps you can offer a different service where you see a demand. Try to devise a strategy that can be adjusted to suit a variety of conditions. For example, set limits on the amount you spend on bonuses or overseas trips, these can be raised or lowered depending on how well the company is achieving.

Consider New Approaches

Part of your review of your company may have shown that you need to think about offering a new approach to your customers. If you have always dealt with them in person, then maybe offering an online service would entice them back. Perhaps you need to offer some new additional services that have become popular with other companies. For example, if you are a law firm, then maybe using a Practical Planning System estate program to help people with their will and power of attorney will attract some additional clients. Perhaps you can take advantage of new technology to do more interviews and meetings via video conference instead of traveling to them. Not only will it save you money, but it will also enable you to arrange meetings quickly and increase your productivity.

Change Your Marketing Strategy

Another way that you may be able to get the jump on your competitors is to refocus your marketing strategy. There may be nothing wrong with what you are currently doing, though by adjusting it to other areas, you may increase your reach and obtain more leads.

Take a look and see if there are any areas that you are not currently advertising. It could be that you have never placed an ad on television before, but it might be a good idea, especially locally. This is where you need to be brave and think about the long-term benefits of advertising. Try a limited run, to begin with, and see how many new leads it generates.

Another good idea is to email your old clients and see if they need your services. It might seem unlikely, but there may be people that have been putting something off until the time was right. Your email might be the nudge they need to get it done.

It can be easy to think the worst and try to downsize your company when the market begins to slow down. Though that can be a good way to save money, it doesn’t help attract new customers and drive the market once again. If you begin to panic, it’s important to think about all the things you haven’t done yet and give them a try, but be decisive, because the sooner you get moving, the quicker you will see the results.

Strategies for Success in a Dematerialized World

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Are you prepared to get vaporized? During the past twenty years I’ve worked with companies all over the world, big and small, helping them to craft a strategy so they can transition from the old world of producing physical products to a new world in which most things tangible – products, devices, stores, and even companies – will simply disappear forever to be replaced by invisible software.  I call this getting vaporized.

My motto is “Whatever can be vaporized will be.” That means any part of your business or product that can be replaced by pure digital information almost certainly will be.

You can’t stop this transformation process because dozens or even hundreds of other companies are already working on it. They are catering to the two billion consumers wielding smartphones who demand instant access to apps and services.

For start-up ventures with no stake in the old physical economy, this poses no particular challenge – just a wealth of opportunities.  But for old-school bureaucracies, it’s a scary new world that requires managers to rethink the basic principles that govern established businesses.

From health care to handbags, no industry is immune. At least some portion of every firm’s activity will be transformed from the old-school physical industrial process into a vaporized state of information available on demand. You won’t be able to stop this process, but if you react soon enough, you will at least have the option to determine how and when you will respond.

The secret to success when technology is driving change rapidly in an established industry is to envision possibilities that many consider unthinkable: to make an effort to envision what a disruptive change might look like, and how it will transform the entire business process. That’s easier said than done. To do so, you have to set aside everything that made your company a big success and focus on the changes that will wipe all of that success away. This is not an easy exercise for anyone.  To get started, ask yourself the following questions:[wcm_restrict]

  • How might software provide a substitute for your company’s product or service?
  • What happens if it is provided free of charge? What if the software is provided free in exchange for usage data? Who wins and who loses in that scenario?
  • Can software replace even a single part of the product made by your company?
  • How might that undercut your current pricing? Could it unravel the bundle of value that your firm offers?
  • If your company provides services, how might these be delivered digitally? Is there anything stopping a startup venture from providing this service on demand via a mobile app? (If not, there are probably several ventures working on it already).
  • Is mobile software considered a vital strategic priority in your company? Or is mobile app development considered peripheral and non-essential? (If your firm outsources mobile app development to an agency or design firm, there’s your answer).
  • Are you aware of any startup companies in your industry that focus primarily on reaching customers on the smartphone?  How seriously do you take this competitive threat?
  • Who is in charge of rethinking your company’s entire business model and operations? Does anyone in your company have such a broad mandate?  Or, like at most companies, are the senior managers incentivized to do the same thing in their departments that they did last year?  Is anybody steering the ship?
  • Does your company rely on barriers such as proprietary technology, arbitrary business rules, regulations or litigation to stifle competition? How well do you expect this defense to hold up against an overseas rival that provides free software in the form of a downloadable mobile app?
  • Are you aware of any startup company in your industry that focuses solely on getting the job done with digital or mobile software? What does it do differently? What can your company learn from the competition?

In the past five years, we’ve witnessed a host of new companies gleefully reinvent traditional categories, from ride-sharing services that undermine entrenched taxi cartels to free messaging apps that wiped out the most profitable segment of the mobile telecom business to free-to-play mobile games that reversed the business logic of the videogame industry. Now as computing power and network connectivity are embedded in a broad range of devices, appliances, vehicles and buildings of all shapes and sizes, this process is extending from media into industries that produce durable goods and tangible products. Entire industries are up for grabs as the value gets siphoned from the physical product into digital software.

Startup software firms are even rethinking the purpose of corporations. If the company mission can be expressed as a set of inviolable business rules encoded in software, why not replace the whole firm with a virtual automated corporation that exists in the cloud?

There’s a whole world out there ripe for reinvention. Pick a topic, any thing or institution or company or product or service or tradition, and ask yourself: how might I replace that with software? You can do it if you want to. All you have to do is jump in.[/wcm_restrict][wcm_nonmember]

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About the Author

Robert TercekRobert Tercek invents the digital future. He has launched satellite TV networks, the first video on mobile phones, multimedia games, and live interactive learning programs. He provides strategic insight to Turner Broadcasting, InterPublic Group, PBS, and other firms. He previously served in executive leadership at MTV, Sony Pictures Entertainment, and most recently as President of Digital Media at OWN: The Oprah Winfrey Network. And is the author of VAPORIZED: Solid Strategies for Success in a Dematerialized World, For more information, go to: http://www.roberttercek.com/

Do You Know What Your Boss Wants From You?

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As an executive coach, I’ve worked with hundreds of people in all types of organizations. Each person has their own story, of course – a unique narrative that includes their skills, experience, strengths, weaknesses, and relationships. While every engagement is different, these people all have one thing in common; their boss always plays a central role in the story. That’s why my first coaching question is “what does your boss really want from you?”

Now, some of my clients have great bosses, so we discuss the relationship briefly and move on. However, a lot of my clients don’t work for a great boss. They’re not clear about his views, or don’t understand what she really wants… and all of this is impacting their engagement, performance, and happiness.

[wcm_restrict]The Unexpected Solution

I’m talking about the unknown expectations; those hidden motives that may drive your boss’s behavior – the real reasons behind her agenda. If you don’t understand what the boss wants from you, you’ll likely be worried, frustrated, and disengaged; you certainly won’t be delivering your best work.

I wish there was an easy solution to this problem. The first thing my clients want to know is: “how do I change my boss?” Do you know what I tell them? Forget about changing him. That’s right, the hard truth is that all of your efforts to improve, fix, or convert your boss won’t work. The solution is changing your own approach to interacting with the boss; the transformation has to be one you undergo… in your awareness, attitude, and behaviors.

The Power of Insight

I believe the secret ingredient to improving your boss relationship is insight. Insight allows you to understand what makes your boss tick – his underlying motives. To help you recognize his motives, I’ve developed 10 questions that will give you the insight you need to figure out where your boss is coming from; I call this first step in the process “study your boss.” The resulting insights will help you explain his work style, behaviors and motives.

Next, you must look objectively at the relationship from the boss’s vantage point; I call this step “consider the boss’s perspective.” In this step, I’ve created five questions for you to answer… does the boss view you as an asset or a liability? Finally, you have to turn all of this insight into self-awareness and behavior change. In short, you have to take responsibility for the relationship. If the first two steps are about gaining awareness, this step is about turning those insights into action. In this final step, you have to adjust your attitude, commit to modifying your boss story, and adopt new behaviors designed to improve your relationship with the boss.

Your Most Important Work Relationship

Look, your relationship with your boss matters – a lot. It’s the most critical factor in your engagement and enjoyment of the job. If you have a great boss, he’s motivating you to work hard, develop your skills, and thrive in the role. However, if you have a bad boss, he’s likely the cause of your frustration, disengagement and stress, and he probably isn’t getting the best out of you.

I believe you need to be the catalyst for improving this relationship. You don’t have to be a victim – you can proactively change your attitude and behaviors. Start by studying your boss to really understand his motives. Next, take an honest look at how she sees you, and be prepared to incorporate that perspective into your plans for change. Then, armed with these reflections, rewrite your story and adjust your attitude. Try new behaviors, and stop destructive ones. The point is to figure out what your boss really wants from you, and try harder to make it all work. You can do this; you can change your relationship with your boss. But you have to make it happen. I know you want the boss to change, but I wouldn’t sit around waiting for that miracle. He’s not going to change or adapt to your style; you need to adjust to his. You must look at this relationship differently, and take responsibility for improving it. You can make a more enjoyable work experience for yourself, one where you’re working more productively with the boss. But you have to put in the work, and really take ownership of the relationship. If you follow this simple process, I’m confident you can a build a better relationship with your boss![/wcm_restrict][wcm_nonmember]

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About the Author

Steve Arneson is one of America’s top executive coaches and corporate leadership speakers. His follow-up to the best-selling Bootstrap Leadership is What Your Boss Really Wants from You. Both books are available at Amazon and Barnes & Noble.com.

How to be an Effective Manager

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Effectively managing people, processes, or both is in many ways a balancing act. Some would even describe it as an art form. There are many variables in play simultaneously which determine if somebody will ultimately be successful in a leadership role.

Before a manager begins to understand all of these nuances they must learn one of the major underlying principles if they are going to recognize their full potential as leaders. They must learn to walk the tightrope between being personal and professional at the same time. It is important to be personal and on good terms with your team members because this is the only way to ensure teamwork and peak performance, but you must also be professional to be respected and trusted. Be too friendly and you may be taken advantage of or not taken seriously, be too buttoned up and ‘professional’ and you risk coming across as uncaring and stubborn.

[wcm_restrict]The key to mastering these seemingly contradictory traits is to build a strong foundation of trust by earning the respect of your team. Earn their respect and your interactions with the team will be looked at more favorably and you are more apt to be given the benefit of the doubt. One of the easiest ways to do this is to learn the basics of their particular jobs, why they do what they do and how they do it. If you already understand their jobs or maybe even rose through the ranks and did their jobs previously it may be a good idea to spend a few hours and relearn the nuances. This is important because they will value your opinions and trust your judgment more if they know you truly understand the roles they in particular play.

The next step is to understand that a manager can be both professional and personal at the same time. These two concepts can coexist. For example, if it is noticed that an employee is falling behind in their day-to-day tasks, a manager whose presenting in a manner that he/she believes is professional may say to the employee, “You are falling behind and I expect you be caught up by days end.” This approach lacks empathy and is one sided. The manager who is most concerned with being seen as nice might say, “I noticed that you are falling a bit behind, do you think you may be caught up at some point?” This approach suggests that this manager prioritizes being liked and non-confrontational above actual performance. The appropriate response should be, “I noticed that you have fallen behind. Let’s talk about what is happening so we can implement a strategy and quickly get back on track to meet our objectives.” This interaction shows empathy while also making it clear that the work must get done timely.

If a manager makes a commitment to having more than a high level understanding of the role each of their team members play and they are committed to exemplifying professionalism and a personal connection through accountability and empathy they are on their way to a successful and fruitful career.[/wcm_restrict][wcm_nonmember]

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About the Author

Gabriel Bristol, president and CEO of Intelicare Direct, is one of today’s most versatile CEOs, having led remarkable turnarounds for several large corporations as well as helping establish rapidly growing start-ups. Gabriel’s success has been well documented, with features in Forbes and other publications throughout the country. To read Gabriel’s complete biography, click here.

Three Strategies to Synchronize, Backup and Protect Your Business Data

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Virtually every type of company generates valuable data that must be updated, retained and safeguarded, including ‘secret sauce’ information on company products, employee data and sensitive customer information. As a company leader, it’s your responsibility to create and implement a strategy to make sure your information is synced to enable collaboration, backed up to ensure retention and secured to make sure data doesn’t fall into the wrong hands.

If your company started out small, it may have seemed easy at first to manage your data. Maybe you saved it all on a server, and only a few employees had access to it, so you felt you could keep an eye on it easily. But as companies grow, they get more complex. And these days, more and more businesses store information on the cloud so they can scale their infrastructure as they expand and enable employees to access data on the road or from multiple locations.

Syncing data is critical if you want to make sure everyone has access to up-to-date information, which is especially important for companies that manage mobile workforces. Otherwise, you’ll end up with different versions of the sales data or data silos will develop on separate hard drives that result in only certain employees having access to information that everyone needs.

Synchronization needs to encompass all types of devices, including tablets and mobile phones, laptops, desktops, servers and external drives. The type of data sync approach your company should pursue depends on your unique business needs, your workforce and your technology assets. Broadly speaking, there are three different categories of data solutions to choose from; here’s a brief overview of each:[wcm_restrict]

  • Enterprise workstation solution: With an enterprise workstation solution, your IT team can easily backup and sync files from workstations to a destination of your choice. You can configure the solution to synchronize multiple workstations to one another or to a cloud storage site to facilitate collaboration.
     
    If you’re interested in this type of solution, make sure the provider allows rapid data syncing on and off the cloud and operates in multiple environments. You’ll also want to be sure the system features an effective user interface and can be deployed without disrupting your users’ workflow.
     
  • Enterprise server solution: A well-designed enterprise server solution enables companies to keep server files current while improving data access. A sync solution that integrates users via Group Policy and Active Directory streamlines administrative workloads while allowing rapid data access. It’s also important to make sure the solution allows storage of files in native formats for quick search and recovery.
     
    An enterprise server solution should make it simple to handle sync size and bandwidth usage issues with block-level Delta synchronization. It should also enable collaboration via a location that allows syncing of numerous workstations to support sharing documents, and it should provide recovery points to enable data replication at other server sites while maintaining Windows permissions and settings to preserve security safeguards.
     
  • Management console solution: This option allows you to manage backup, synchronization and security from a central web interface. It’s a great alternative if you need to grant administrator access and oversee user activities across multiple locations. A good management console solution can streamline creation and distribution of sync jobs with grouping functions and enhance analytics with reporting tools.
     
    With an effective management console solution, IT professionals can distribute and run jobs without affecting user activities, and no user training is required. A robust solution will also identify issues and automatically send alerts so that IT will be aware of any problems that occur during data syncs. A system that accepts a range of authentication methods and provides IT with reporting and management tools is ideal.
     

These days, business operations revolve around data to a greater extent than ever before, so finding a solution that allows you to synchronize, backup and protect company information can help you improve your competitive position. Given the realities of the highly mobile workforce, it’s important to find a solution that enables syncing across multiple devices and infrastructures, including the cloud, desktops, laptops, tablets and mobile phones.

To choose the right solution for your business, take a look at your unique needs, your workforce configuration and your advanced analytics and control requirements. Once you have a clear picture of what you need from a data synchronization, backup and protection solution, you can choose one that best fits your company’s style and start using data to your best advantage.[/wcm_restrict][wcm_nonmember]

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About the Author

Bill Carey is Vice President of Marketing & Business Development at Siber Systems Inc., which offers the top-rated RoboForm Password Manager software.