Archive for Innovation
Recognize and Embrace Your Passion
Posted by: | Comments
I have had many conversations with people who dream out loud what they really want to do with their life. In nearly every conversation they have something they are passionate about and rather skilled at. Their challenge is in pursuing it and believing they can do it.
Often they begin defining their passion in terms of a job description and struggle to figure out how they can monetize it. That thought process usually creates barriers, not opportunity. I advise them to go through a more strategic and creative thought process that allows them discover the options for turning their passion into a business, a hobby, a cause, or a service.
Instead of dealing with traditional roadblock thinking about your passion, I encourage the following thought process:
- Clarify your true passion.
- Define and articulate how others would benefit from this skill and energy.
- List options and opportunities as to how you might provide this to the world.
- Initially avoid the traditional thoughts about whether this would make money, require money, or fit into something easily described to others.
- Look at the options and decide which one best defines their interest and devise a plan for turning it into something.
- Then define how passionate you are about this opportunity by taking action and “owning it” or do nothing.
This approach takes people out of the “I have a dream, but don’t know whether it would work” mindset and facilitates a “what’s possible” interaction. For an example of this kind of thinking, read the article, “Don’t Miss That Aha Moment.”
When It Comes to Greed – Perception is Reality
Posted by: | CommentsWhat exactly is greed anyway?
Who gets to decide what amount of profit is greed?
Yesterday’s blog elicited some interesting commentary. The ones that captured my attention the most were the above questions. I decided to take a stab at continuing the dialogue on greed.
First, greed is subject to interpretation. Usually the person behaving in a greedy way never sees it that way or, has decided that they have earned some type of privilege that allows this behavior. Those that recognize or experience greed are usually the people effected by its behavior. For example, the banks that benefited from the various bailouts keep a tight reign on new loans, and declares record profits and bonuses appear greedy to the outside business world. Banks and those in high finance defend these behaviors as not totally accurate. To the rest, it sure looked like greedy behavior. Perception is reality.
Second, greed is an action that hurts or adversely affects other people. Profit taking or protecting behaviors that mollifies one party at the calamatous detriment to another party is greedy. Partners that stick it to their partners, employees who embezzle from the company, executives who have two sets of business and expenditure rules are all greedy behaviors. Either everyone benefits, plays by the same rules, or is minimally impacted or it is greedy. Perception is reality.
Finally, greed is narcissistic. As greed is subject to interpretation, greed can also be justified. Layoffs can be and often are a downside result of a declining business. However, massive layoffs to simply and swiftly manage to the balance sheet is greedy. There are always creative ways to manage, contain, and control costs; however, in the recent wave of layoffs the behaviors reflected one philosophy, react to a problem with a quick solution to protect the financial health of the firm without looking at the long-term impact to the business or the short-term affect on its people. These layoffs were simply the most expeditious action. The people benefiting from this behavior was the ownership class at the expense of the retained employees and at the pain of those who were tossed aside. Remember, perception is reality.
I don’t know if I have the answer as to what amount of profit taking is not greedy. However, I do know that when profit taking is short-sighted, selfish, inconsistent, causes pain to others, and is not holistic in its process, it is greed. When the participating community (workers, owners, suppliers, customers) do not benefit from their relationship with the organization and there is adverse cost associated with that relationship based on profit taking decisions, the related behavior is greedy. In the end, perception is reality.
NOTE: If you are interested in obtaining a copy of the white paper on this subject, “The Sustainable Business Model™”, please contact me: dave@salescooke.com. I will be happy to forward you the information.
Taking Greed Out of the Business Equation
Posted by: | Comments“As trainers and coaches we do bear some responsibility to help build a better future, one less dominated by greed. The world is driven by financial greed and economic dogma – one controls the earth’s resources and the others are its apologists.” ~ Dr. Henry Mintzberg
The necessary shifts in our business mindset are clear, yet complicated. How do we grow our business, make a significant profit for our shareholders while engaging, developing, and inspiring our team to do great things? There is a predisposed conflict inherent in businesses between the investment in it and the siphoning profits out of it; thus, ensuring and maximizing shareholder value while building a sustainable and thriving enterprise.
The power of Dr. Mintzberg’s words resonates: greed does not drive great business, it thwarts it. As an advisor and strategist to business executives, my obligation is to help them develop a sustainable business that maximizes value for all those engaged in the business. These participants include shareholders, employees, suppliers, and customers. The community of any business is greater and more powerful in its totality, than simply catering to the whims and desires of its shareholders. Businesses have an obligation to the community of all its participants to leverage their collective needs, desires, talents, skills, energy, and contribution to build a larger, more cohesive and stable business model.
As businesses begin to rebuild, recover, and grow in the rebirth of the economy, the key to the pace and effectiveness of that recovery depends on the businesses ability to invest in itself and build a collaborative, innovative community. In this formula, greed or the recovery of lost assets or equity will only interrupt the recovery process. Strategically focusing on the power of the community in the business creates a machine that sustains itself and feeds the needs of all its members appropriately.
If you are interested in obtaining a copy of the white paper on this subject, “The Sustainable Business Model™”, please contact me: dave@salescooke.com.
Note: The featured quote was taken from an article featuring Dr. Minztberg. If you have ever had the opportunity to read his books or articles featuring his thoughts, absorb them. Dr. Mintzberg has the corporate dilemma covered. He is rapidly becoming my inspiration and my guide for all things business.
Your Relationships Define You!
Posted by: | Comments“Always Remember: Relationships are more important than a job.” — Benjamin McCall
A big component of my revenue philosophy is the power of relationship based, solutions oriented behaviors. Whether we are looking to advance our career, find a position, or close a deal, our effectiveness in building relationships in this process will define our success. In Benjamin McCall’s blog, “It’s about the people, People! A rant on Relationships” he talks about those very things. Relationships are the key to our ability to get where we want as we all need friends, fans, advocates, and advisers to help us be great. And we often don’t realize the many opportunities we have along our journey to build these relationships.
I was guilty of this myself. In a recent guest blog, I referenced my own experiences in learning about the power of effective relationships. When I was focusing on my “career” and working up the corporate ladder I paid very little attention to the relationships and connections I could have been building. When I shifted focus and started engaging in the activities I enjoyed doing and did well, the relationships I developed have carried me. I certainly wish I had those connections from the first half of my professional life.
Remember, our successes are influenced by the way we connect with the people we meet along the way. Our effectiveness in valuing and building strong relationships will make that journey more productive and fulfilling. Enjoy the experience and be receptive to all those relationship building opportunities.
How Good is Your Game?
Posted by: | CommentsI was reminded of a recent conversation I had with US Representative Harry E. Mitchell (AZ). I was intrigued by his background as a former educator and his experience at various level of local, state, and national politics. In our discussion, he provided me a great anology for his experiences at the different political levels:
“Moving from local to national level politics is a lot like the transition from high school, to college, and to pro football. As you move up to each level the game is played faster and they hit a lot harder.”
There is a lesson for us in that quote, too. How good is your game? Are you playing your game to the business level that you need to?
Whatever your business goals, your function or role in your organization, and the vision you have for your professional career, you have to play your game at the level of your targeted audience. If your game is not up to the level of those you desire to do business with, you had better improve your game.
To improve your game study the people you want to do business with. What are their behaviors, attitudes, appearance, priorities, habits, needs, etc? Then examine your communication style, your message, your organizational skills, your value proposition, and your appearance (yes, it matters). Are you properly prepared to play the game at their level? If not, get busy and make the adjustments. In today’s economy, things are moving quite quickly and everyone is looking for solutions from their professional resources. Make sure your game is up to their level and you will be much more effective.
Sales Cooke Recipe Tip: Businesses only have time for professionals who can add value. You have to be ready to play the game at its highest level if you desire to succeed in this environment.
Get real…quit looking for a “job”
Posted by: | CommentsJust released today, “the number of U.S. workers filing new claims for jobless benefits declined 4,000 to 570,000 last week, but claims still remain at elevated levels.” (Wall Street Journal 09/03/09) People are still being laid off. And those who have been laid off are still looking for jobs. This does not add up. What is more confusing is I run across at least one or two legitimate business opportunities every day. These opportunities do not pay a salary, they do not provide benefits; but, they have the potential to provide income and much more for someone who recognizes the opportunity.
Nothing frustrates me more than these businesses who continue to lay-off their most valued resource, their people. It represents a mindless, simplistic financial answer. Anyone can eliminate a job to balance the books. It takes creativity and innovation to find a way to deploy these valued resources, known as people with families, to use these down times to re-invent or create or devise a different path or direction or product or service for the company. Instead of deploying them to innovate and create and grow, they cut them off and turn them out.
Unfortunately, too many unemployed seemed to be equally as incapable to innovate or create during their transition. I continue to post opportunities regarding start-up companies I am working which have both huge potential and risk. With all the people out of work, I would expect some interest. I get none. (Maybe it’s me.) What I get is “I need a job with a salary.” What you need is money coming in to pay your bills. What you need is to find an opportunity that generates revenue.
Please explain to me how working on a “risky” opportunity today that will enable you to make money in a month is NOT as good an opportunity as searching for a job for the next three months, with no guarantee that you will have a job by then.
If you are looking for work, I am very sorry that you are in that situation–it stinks. If you are looking for a job and you feel you must have a “job”, please do one of these things:
1. Invent a job: I have a dear friend who was determined to get a “job.” In their job search efforts, they contacted a business in their industry that had no competitive presence in their geographic market. This person convinced them that there was an opportunity for this business to expand into this market. They even wrote up a sales plan and presented it. Got the job. Correction, invented the job. That’s being innovative and creative.
2. Leverage your experience to create something: Many job seekers recognize the potential to do something great in their industry. They have contacts, relationships, strategic partners and ideas. Put it together to create something. Another friend had numerous executive-level contacts in a particular industry. This industry is not hiring. However, they did have some issues with underselling products. This person has another contact with access to significant experience building e-commerce sales models. Seeing the opportunity this person put their contacts together and are now building an e-commerce sales model for these nonperforming products. Brilliant. Innovation and creativity is the theme.
3. Listen for the opportunity: Instead of thinking of all the reasons why you need a “job” as an excuse to dismiss a legitimate business opportunity, explore the potential for the legitimate opportunities that are out there. They do exist. I see them every day. The reason you do not see them is you are too busy looking for a “job.” Be creative, be innovative, look for the potential in these opportunities. Of course there is risk. There is risk that you could get laid off from the next job, as well.
I am frustrated and disappointed with the way businesses have been treating people. They have a higher level of accountability than this. Employees are not numbers. However, I am almost as frustrated by the people in transition who are convinced a job is their security and their future. Just because your former employer was not very innovative or creative does not mean you need to act the way. Give it a shot, create or take a chance–you have nothing to lose. More importantly, through your success you have everything to gain, including control of your future.
Let’s Solve these Problems Together!
Posted by: | CommentsIt seems there is a trend these days to find someone or something to blame for the various occurrences in our lives. 
Whether it be the current economic mess, the failures in our business or place of work, the collapse of the US auto industry, the problems at our kids’ school or just about any sporting event. When something goes wrong, someone is to blame. Blowhard pundits and broadcasters like Rush Limbaugh have made a career out of criticizing everyone who disagrees with his view of the world. They often make it quite clear they are absolutely not the one we blame for the problem. Worse, they are rarely the ones who want to figure out and put into real action what needs to be done to fix, correct or improve the situation. These people are not really helping they are simply inciting. As a society we cannot fix any problem without taking real corrective action. True leadership is making a commitment to effectively guide people to accomplish great things. We are a society looking for leaders. We are not looking for more people to remind us of all things we need to blame people for.
Recently I posted a blog on the word “should“. I noticed that often people would use the word “should” as a way of assigning responsibility to someone else for fixing or correcting a problem or an issue. I have noticed that in many of my blogs and commentaries I do a great job of pointing out the problem: mismanaged business, poor sales behaviors, everything that is wrong with customer service and support, and even more things that really stink about the whole auto mess. I have done a great job of identifying the problem. I have been pretty effective at trying to assign blame. And, I have come very close to telling others what they “should” do to correct these issues. I have only scratched the surface at how we fix these problems or create answers to avoid them in the future. That is not enough. We need real solutions to these very real problems and challenges.
I am committed to utilizing this site as a better forum for solutions and ideas. A forum where we discuss the challenges that we face and find ways to start to create fixes for our problems. We do not need any more people telling us that someone is to blame for this mess, we already know that there is always someone to blame–even if we are wrong. What businesses and individuals and families and owners are looking for is answers to the many things that are not working for them today.
I need your help, your comments and your involvement on this blog. Let’s start solving some problems together. Instead of simply reading this blog, join me in the conversation and in finding solutions. Respond, ask questions, disagree, offer opinions and ideas, engage in a written conversation. That is what true blogging is all about. If this blog is to become a forum for ideas and problem solving it requires the engagement of many. Get in the game and start sharing. It will help us all!!!
Tough Road Ahead? Simply Lower the Standards
Posted by: | CommentsOne of the more obvious causes of our economic mess is the creative changes applied to the banking rules and standards. According to Adam Davidson, “banks were lending money to people who couldn’t afford it so they could buy houses that should never have been built. The banks then turned the mortgages on those houses into ever-more complex financial instruments that are now nearly impossible to value. Then the banks sold all that bad debt all around the world and made sure they got into every nook and cranny of the global economy.” The path to prosperity–a new home, better returns, quicker profits–were all stymied by the old rules that governed our economy. In the name of progress we deregulated those systems and created a new standard that lowered the requirements, the rules, and the overall governance of our economic system.
It seems like we haven’t really learned anything yet. Government Motors (the ‘new’ GM) fearful about the real and impending doom it faced as a result of generations of gross mismanagement, takes a shortcut and coaxes what will be $100 billion out of the federal government to get it through a managed bankruptcy. Once again the rules are changed to make businesses less accountable and to lower the standards for competition and executive oversight.
Finally, this past weekend featured the last of horse racing’s Triple Crown, the Belmont Stakes. There has not been a Triple Crown winner since Affirmed in 1978. It has been over 30 years since there has been a Triple Crown winner prompting legendary horse trainer D. Wayne Lukas to call for a change in the standards to make the Triple Crown more competitive (read achievable).
Why change the rules? When there wasn’t a winner from 1948 until 1973 were people clamoring for a change in the rules? No. The standard was set and accepted and passionately chased. Just like much of everything in our society today, the standards seem too high, too hard, too improbable, so let’s just lower them or change them.
We are starting to establish a dangerous precedent for our society. If things get too tough, too competitive, too long to achieve, we simply want to change the game–block foreign competition, protect jobs from going overseas, prevent the import of a better educated worker, create new accounting standards, etc. Face it, this is a global economy and the competition is fierce. You want to win at this game, work harder, be more innovative, change your game–don’t simply take shortcuts or try to change the rules. It is time for our society to step up and toughen up. Put some accountability, responsibility, and innovation in your life and your business at today’s standards and you will be amazed at the results.
