Categories
People & Relationships

Why Women Executives and Entrepreneurs Should Look to Mentoring!

When my son was in third grade, he asked that I participate in a Parent’s Career Day. During my 15 minute segment, I was to explain to his classmates what I did for a living. When I took my place in front of the room, introduced as Ben’s mom who works in a downtown insurance company, I explained that I worked as a boss who managed people in the operational departments of my company. I’m here to testify that a person will never feel so totally hung out to dry until they see a child’s eyes glaze over from boredom or incomprehension.

During a lull in my dialog, one blond haired freckled boy asked “Do you fire people from their job?” He totally focused upon me and I knew at that moment my answer would be critical. I told him that sometimes that was a necessary but sad part of my work. To that response, he sighed and in a trembling voice said, “My father was fired last week…is he a bad man to have his boss fire him?”

The teacher’s eyes welled with tears thus revealing to me that the next few moments were vital and I should tread with care. Through a small child’s effort to understand the whys of a situation, the nurturing aspects of my personality surged forward. I answered him with tenderness. To this day I still feel the tremendous weight of responsibility for making sure I communicate in such a way that it reinforces a person’s self esteem rather than carelessly destroy hope or motivation.

As females, we strove to burst through the Glass Ceiling in our careers, but I wonder if we dodged the shards?

Inadvertently, somewhere along the way, it became a hostile competition among women. Through direct experience and observation, I’ve witnessed my female counterparts becoming their own worst enemy. Rather than focusing on the strengths of what women offer each other and using them to everyone’s advantage, efforts to undermine talented coworkers evolved into an all-or-nothing-war-like campaign.

The concept of mentoring and building up others to take your position when you move on was a foreign concept until the last decade. Fortunately, women began to realize that competition for promotion doesn’t have to be brutal. It’s about understanding that personality, creativity, dedication and accountability are the primary assets to promote.
When I speak with younger women in the work force, they aren’t nearly impacted by gender based promotions as Baby Boomer women were. Through these conversations I realized that this new generation was participating in what I call “reverse mentoring.” Our youth is teaching us about the new world order and sociological changes.

Mentoring isn’t something that simply takes up time and space anymore.

It is a personalized and truthful interaction with other human beings for the betterment of all. Advice is now given with a caring spirit rather than a destructive mindset and it creates a new tone for success. Rather than operating in an environment of isolation, we can talk about family and dreams. But then we have to take it a step further and hold each other accountable for making those dreams a reality.

Mastermind group creation is a concept that is thriving in today’s business world.

Each participant has something to offer the other members of the group and whatever is discussed in those meetings stays confidential. It is a shared perspective on a common problem that allows us to reconnect the dots and come at an issue from a different direction.

Responsibility for our communication efforts, interactions, and intent must be fully accepted by us if we choose to become a mentor, informally or formally. There is no room for “off the cuff remarks” because when an individual is a mentor, the mentee places you in a position of trust and honor. It is your duty to handle it delicately and respectfully.
To this day, I’m proud of the direction I chose to take when answering that small boy’s question about his father’s character. By choosing to give him hope and perspective, I realigned myself permanently in respect to my female relationships and grew as a business professional, wife and mother.

Teaching around a campfire or through mentoring opportunities is hardwired in all of us. I don’t consider it a weakness to reach out to another person for help. And it only enhances your personal power when you respond and support others who need you.

Be a guide on the side: mentoring matters.

About the Author:

Karel Murray is a Certified Speaking Professional, author of “Hitting Our Stride: Women, Work and What Matters” and business trainer who helps entrepreneurs and executives resolve interpersonal issues and balance their work/personal lives. Now, you can listen to her exciting, free interviews that will help you maintain and sustain a healthy business and lifestyle at http://www.JustForAMomentPodcast.com. To learn more about Karel Murray, please go to her website http://www.Karel.com

Categories
Planning & Management

Check Your Lost and Found File: Former Customers Make Great Future Customers

Want to win more business? “Lost” customers are the key! Many salespeople hit the delete key on former customers and focus on new prospects, but this is a big mistake!  Former customers make great future customers, so increase your sales by earning the business of customers you’ve “lost” over the years.

How can lost customers pay off? A study by Marketing Metrics shows there is a 20-40% chance of re-engaging a former customer versus only a 5-20% chance of turning a new prospect into a customer.

Now is a good time to focus on former customers. The consolidations, bankruptcy filings, and workforce reductions leave many struggling to do more with less. Maybe they didn’t need you these last few years but the new business world may create that need again.  There are HUGE opportunities for those who are ready to capture more business now.

Here are a few steps you can take to revisit your “lost” customers and increase sales:

1.    Review your past three years of sales data. Make a list of customers who have not bought/worked with you in that time. Then for each organization note:
o    When was your last contact with them?
o    Do you know what/whom they are working with in lieu of you?
o    On a scale of 1-10, how likely is it they would welcome contact from you again?  If the score is a 5 or higher, they are a good prospect!
o    What do you know about them that you can use to reconnect? History, experiences, challenges they had, people they work with, hobbies or any shared stories?

2.    Research your primary contact at each identified organization. Use Google, LinkedIn, Facebook, Twitter, bizjojrnals.com or other search tools. Find out what he or she has been up to. Are they still with that company? In the same position?

3.    Review past business you did with this organization. What product/service did they use? What was their experience working with you and your company – favorable, neutral, bad? Why did they stop working with you? Do you know?

Identify whether this was a valuable customer to you and your company.  Sometimes customers can be more work than the value they bring, so there’s no sense in reconnecting with a customer who drained you.
How many “lost” customers do you have in your files who have the potential to become great future customers? Let us know in the Comment section, and we’ll give you more ways to turn lost into new customers in our next post.

About the Author:

Sharpenz is dedicated to providing sales managers the resources and tools they need to energize, engage and equip their sales team to sell each week. Our 30-minute power sales booster meetings help companies increase sales by providing the right tools and training – fast. Designed with the busy manager in mind, Sharpenz ready-to-go sales training kits will give your sales team the opportunity to grow and earn more – all in a half hour of power.  To learn more, visit www.sharpenz.com and sign up for your free ready-to-go sales training kit today!

Want to win more business? “Lost” customers are the key! Many salespeople hit the delete key on former customers and focus on new prospects, but this is a big mistake!  Former customers make great future customers, so increase your sales by earning the business of customers you’ve “lost” over the years.

How can lost customers pay off? A study by Marketing Metrics shows there is a 20-40% chance of re-engaging a former customer versus only a 5-20% chance of turning a new prospect into a customer.

Now is a good time to focus on former customers. The consolidations, bankruptcy filings, and workforce reductions leave many struggling to do more with less. Maybe they didn’t need you these last few years but the new business world may create that need again. There are HUGE opportunities for those who are ready to capture more business now.

Here are a few steps you can take to revisit your “lost” customers and increase sales:

  1. Review your past three years of sales data. Make a list of customers who have not bought/worked with you in that time. Then for each organization note:
    • When was your last contact with them?
    • Do you know what/whom they are working with in lieu of you?
    • On a scale of 1-10, how likely is it they would welcome contact from you again?  If the score is a 5 or higher, they are a good prospect!
    • What do you know about them that you can use to reconnect? History, experiences, challenges they had, people they work with, hobbies or any shared stories?
  2. Research your primary contact at each identified organization. Use Google, LinkedIn, Facebook, Twitter, bizjojrnals.com or other search tools. Find out what he or she has been up to. Are they still with that company? In the same position?
  3. Review past business you did with this organization. What product/service did they use? What was their experience working with you and your company – favorable, neutral, bad? Why did they stop working with you? Do you know?

Identify whether this was a valuable customer to you and your company.  Sometimes customers can be more work than the value they bring, so there’s no sense in reconnecting with a customer who drained you.

How many “lost” customers do you have in your files who have the potential to become great future customers? Let us know in the Comment section, and we’ll give you more ways to turn lost into new customers in our next post.

# # #

Sharpenz is dedicated to providing sales managers the resources and tools they need to energize, engage and equip their sales team to sell each week. Our 30-minute power sales booster meetings help companies increase sales by providing the right tools and training – fast. Designed with the busy manager in mind, Sharpenz ready-to-go sales training kits will give your sales team the opportunity to grow and earn more – all in a half hour of power. To learn more, visit www.sharpenz.com and sign up for your free ready-to-go sales training kit today!

Categories
Networking

Networking: The Why and How-To for Three Types of Female Entrepreneurs

To busy female entrepreneurs, networking can seem like a complex web of cocktail parties, dinner meetings and social media pages. Even if these savvy businesswomen realize the importance of networking as a means for growing their companies, they may shy away from it because it seems like an overwhelming time investment. Networking doesn’t have to be a burden; in fact, it can be a fun and easy way for female entrepreneurs to grow their businesses while creating strong business and personal relationships with likeminded professionals.

A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Based on professional market research of more than 3,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. This article outlines three of the five types and provides reasons each one should network, as well as tips for networking effectively.

Jane Dough is an entrepreneur who enjoys running her business; generally, she makes a nice living. She is comfortable and determined in buying and selling, which may be why she’s five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women entrepreneurs fall in the category of Jane Dough.

Jane Dough is successful – and she plans to be even more so. Therefore, even while most Jane Dough business owners report feeling satisfied with their current situation, they also report looking forward to creating even greater success in the future. She sees this as a challenge or a game – and an opportunity to continue building on the foundation she has constructed. Of all the five types of entrepreneurs, Jane Dough is the most likely to report feeling determined, hopeful and excited on a typical workday. One key way for Jane Dough to grow her business is to create multiple streams of income – and networking provides an avenue for doing so.

Why Jane Dough should network: To create alternative strategies for growth, Jane Dough must build her business so that it generates multiple streams of income. This mitigates risk associated with a downturn in one part of the business. Diversified products and services build credibility. Networking is an excellent way to diversify because it allows Jane Dough to partner with other businesswomen (or men) to offer products and services that fit naturally together, allowing both companies to grow.

How Jane Dough should network: Jane Dough’s best networking will happen with other business owners who have a similar Jane Dough mindset. She will benefit the most from relationships with like-minded people who have aggressive growth goals for their companies and similar drive and work styles to hers. When a business owner shares similar goals with networking partners, it is easier to support one another and see potential in partnering/networking and referrals. Jane Dough’s time is precious; it’s important to spend it wisely by developing enriching networking relationships only with those who have similar business goals.

Merry Jane business owners typically are building a part-time or “flexible time” business that gives her a creative outlet (whether she’s an ad agency consultant or she makes beautiful artwork) that she can manage within specific constraints around her schedule. She may have a day-job, or need to be fully present for family or other pursuits. She realizes she could make more money by working longer hours, but she’s happy with the tradeoff she has made because her business gives her tremendous freedom to work how and when she wants, around her other commitments. About 19 percent of women business owners fit into this category.

While Merry Jane relishes her freedom and flexibility, she also would like to obtain new customers and better market her business. Whether a Merry Jane business owner is experienced in marketing or not, research shows that most Merry Jane businesses grow through referral and word-of-mouth. To capitalize on these two avenues to business growth, Merry Jane must make the most of her limited time by creating low-maintenance, low-risk marketing strategies. Networking, through social media specifically, is one such strategy; Merry Jane can use it effectively to boost her growth without investing much of her limited time.

Why Merry Jane should network: Because Merry Jane business owners report having myriad responsibilities in addition to running their businesses – whether they stay home with their children, have a full-time job in addition to their company, or take care of aging parents – they often don’t have much time to spend on marketing. Therefore, growth occurs as a result of word-of-mouth. What better way to increase word-of-mouth referrals than to market the business through networking?

How Merry Jane should network: The simplest, lowest-maintenance form of marketing (and the least expensive), is social media. Using web sites like Facebook, Twitter, and LinkedIn, Merry Jane can quickly and effectively network online without leaving her home or spending much money (if any). These sites build networks almost effortlessly, and allow users to regularly post updates or messages their “friends” and “followers” can see. When Merry Jane participates in social media then, she is constantly at the top of her friends’ and followers’ minds, and she is able to seek partnership opportunities easily with people who are interested in her products and services.

Accidental Jane is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and then she decided to use her business and personal contacts to strike out on her own. Or, she may have started making something that served her own unmet needs and found other customers with the same need, giving birth to a business. Although Accidental Jane may sometimes struggle with prioritizing what she needs to do next in her business, she enjoys what she does and is making good money. About 18% of all women business owners fit the Accidental Jane profile.

Like Merry Jane, Accidental Jane enjoys her time freedom. In her work, she strives to find ways to structure her business so she can do more of what she enjoys, and less of what she doesn’t. Also, she strives to find ways to work with people with whom she enjoys working. Accidental Jane has the expectation that her business is an ideal way to gain greater control over the critical aspects of her working life. Doing work she enjoys, for customers she cares about, delights her because she takes tremendous pride in a job well done and enormously values her relationships. One crucial element of Accidental Jane’s definition of success: “enough, but not too much, work.” For Accidental Jane, then, networking provides opportunities for creating referral partnerships that help her maintain her treasured balance.

Why Accidental Jane should network: Accidental Jane must build strong working relationships with other professionals so she can provide her customers with exceptional service without sacrificing the time freedom she holds so dear. For example, if a customer asks a graphic designer Accidental Jane for a huge design project that also includes copywriting services, Accidental Jane could refer the copywriting services to a professional with whom she has networked, saving herself the time but still providing her customer with great writing services. The customer is likely to return to Accidental Jane when future projects arise, and the copywriter is likely to refer design customers to Accidental Jane.

How Accidental Jane should network: Because Accidental Jane is often reluctant to hire employees (because she enjoys her freedom), she must become adept at partnering with other solo-preneurs to bring a broader range of services to her customers. Her desire to build trusting relationships, and to help others succeed, drives the formation of such networks. This can become a point of pride and a unique positioning for her business as she sells it as a customer advantage.

Networking is a crucial component of business strength and growth for any business owner; the best course of networking action depends on a business owner’s unique needs, characteristics and constraints.

About the Author:

Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

Categories
How-To Guides

How to Influence without Positional Authority and Improve Employee Morale Using 3 Simple Strategies

We know what you’re thinking…”Influence without positional authority” sounds like an oxymoron and if uttered in the organization, you believe you will have employees wondering about your sanity.

Everyone knows that the only way you will get things done in an organization is to use your authoritative position as a reason for your employees (and others) to listen to you.

Right?

Well – no.

We’re telling you right now, influence without positional authority is not only possible, it’s essential if you want to achieve anything meaningful in your organization. And, you must exercise it to evoke positive change.

And yes, it can be used with your employees, but it can also be used with you peers and with your boss. We all live in a 360-degree organizational world. We have yet to meet one executive who can achieve the results desired solely by using positional authority

As you delve deeper within this article, you will soon realize that you can motivate others to higher levels of performance and also impact positively not only the morale of your employees, but also the morale of your peers. The result – you get more work done and a higher level of cooperation. It’s not the Holy Grail, but it is a critical ingredient to getting work done in an organization

Influencing without Positional Authority Strategy #1: Build Positive Relationships

We estimate that more than 80% of the time we spend as coaches to high-performance leaders – is spent on helping leaders manage the transition and work their way through performance issues with others.
You will fast-track and gain altitude in your career as a leader when you learn and practice the keys to building strong, effective interpersonal relationships with others. And, it starts with recognizing that nothing happens until a relationship is developed.
Building a relationship includes:
-Having the other person’s best interest in mind – win-win verses win-lose
-Understanding and respecting the other person’s work style and key needs/expectations
-Understanding and respecting personality differences
-Finding areas of mutual interest
-Using exchange principles to enhance the relationship

Influencing without Positional Authority Strategy #2: Honor the Law of Reciprocation

The law of reciprocation involves a mutual value for value exchange. To effectively engage in the law of reciprocation, you must identify what the recipient values. And we have much more to offer than many of us realize. For example:

-Resources —  Money/funding, personnel, space
-Information – Competitive intelligence, industry trends, upcoming changes
-Organizational support – -Providing support and resources for meetings or projects
-Personal support — Being readily available and supportive when a person is stressed, vulnerable or perhaps just needs someone listen to them
-Reliability — Doing what you say when you say you will do it
-Gratitude –Saying thank you, expressing appreciation for a person’s contribution in a way that is meaningful to them
-Excellence in service — Producing beyond the expectation of the other person
-Vision — Identifying the future direction, portraying excitement and confidence in the future, and in the outcome of the project
-Rapid response — This is self-explanatory
-Recognition –It can be an award, a new project assignment or praise at a public meeting

No matter what you offer, it must be meaningful to the recipient. Just because we think we are providing something of value does not mean the recipient agrees with us. To determine what is meaningful, we need to understand issues such as:

•    What do they need to succeed?
•    How are they measured on their performance?
•    How are they rewarded? And what is their greatest reward?
•    Career objectives
•    Their key concerns (or fears if they will share it with you)
•    Key expectations (of their boss, peers, subordinates, their constituents)
•    Recognition / Privacy. Preferences of the individual and considering the culture of the organization
•    Interests outside the organization

This means you must first build a relationship!

Influencing without Positional Authority Strategy #3: Participate in Healthy Conflict

It’s possible that as you work to influence others without positional authority, that conflict will arise. Employees and team members will push back, argue, and disagree?

Let’s face it, some people like to argue, negotiate and play devils advocate. In other words “they love a good fight”.

Take note: Conflict is NOT bad or wrong.  Engaged in the right way, conflict is good. In fact, it’s not only good, it’s essential for organizational growth and development. “Healthy conflict”, that is vibrant and candid leads to:

-Expanding ideas and perspectives
-Identifying more options
-Better decisions
-Inclusion (individual value and contribution) rather than reinforcing exclusion and a natural futility when not being heard

So learn how to appreciate and participate in healthy conflict.

Remember, a successful leadership career requires more that the hard skills we learn in school. Success also requires that we recognize and master the intangibles of successful management. And one of the more powerful intangibles that is important to master is the ability to influence others without authority. It will provide you with leverage and enable you to garner more support than you would ever achieve on your own or through positional authority alone.

About the Authors:

Sara LaForest and Tony Kubica are management consultants with more than 50+ years of combined experience in helping organizations improve their business performance. They say that trying to influence with positional authority is just one way to sabotage your business. Get their complete “Self-Sabotage in Business White Paper” at: http://www.kubicalaforestconsulting.com/resources.php and uncover the common, subtle ways you are harming your performance.

Categories
Business Ideas

3 Tips to Breaking Through Your Business Plateau

There are few things more frustrating than being stuck at a plateau — whether it’s a losing-weight plateau, a business-growth plateau or any other plateaus.

So what do when you ARE stuck at a plateau, more specifically a business-growth one? Well the below 3 keys should put you on the right track to busting through.

1. Are you ready to grow? The first thing you need to look at is your mindset. A lot of times the reason why you’re stuck is because you’re just not ready to grow. It could be any number of things. You’re hiding out. You don’t want to be more successful than your spouse and/or parents. You’re afraid people won’t like you if you’re too successful. Only evil capitalist pigs are successful. You get the idea.

If you have a block like that standing in your way, it really doesn’t matter what you do or don’t do you’re not going to bust through your plateau.

So how do you know if you have a block? Well if you haven’t done any self growth work, I suspect you probably have a block or 2 lurking around. It’s nothing to feel ashamed about — it’s very common. In fact, I would venture to say every entrepreneur, even the most successful ones, encountered a block or 2 in their business growth. It’s just the successful ones had a way to get around it.

One place to start is by doing a little journaling. Take a piece a paper and draw a line down the middle so you have 2 columns. In one column, write down all the reasons why you want to break through this plateau and reach your goal. Then in the second column, write down all the reasons why you DON’T want to reach your goal. Yes, something will bubble to the surface if you don’t brush this off as being silly. And whatever bubbles to the surface will give you the next clue as to what you have to do to get rid of the obstacle.

The other thing you can do (which is my fave) is to hire a coach. Coaches are great for helping you get past your blocks.

2. Do you know what you need to do to grow? You can get past all the blocks you have, but if you have no idea what you need to be doing to be successful, then you’re not going to get very far.

Some of my most successful partnerships are with clients who have their mindset in order and they’re looking for copywriting and marketing expertise. When that happens, look out! Their businesses end up taking off in a really big way.

So how can you tell if you’re in this camp or if your mindset is blocking you? Well, I agree, it can be a little tough to do on your own — there are clues (which I can spot when I’m talking to people but it’s more difficult to explain). One clue is you’re ready to do what it takes to make your investment back. You might be really worried or scared about making this investment in yourself, but you feel confident you’re going to follow through and do what needs to be done. If you feel like you won’t do it, or it doesn’t matter what you do, you’re only going to get X people buying because that’s all you ever get, then you have a mindset block.

Another way to know is if you feel like you’re ready to step out in a big way and this is the next step.

3. You’re in that “uncomfortable” space right before you’re going to breakthrough your plateau and you just need to go a little further. What happens to water at 212 degrees F? It’s turning to steam. What happens at 211 degrees? It’s still liquid.

If you know you’re doing what you need to do to be successful and you haven’t broken through your business plateau yet, it could be you’re about to and you just have to keep doing what you’re doing. You’re at 211 degrees and you just need a little more umph to make it to 212.  (This one is probably the most frustrating of all. I was here so I know what you’re going through. It’s like you’re at Mile 23 of a marathon — which is 26.2 miles — you’ve done all this work to get to mile 23, you just need to walk 3.2 more miles and it’s some of the hardest miles you’ll ever walk. But keep going, you really are almost there.)