| |
| |
|
Entrepreneurialism Information |
|
|
|
Outcomes - Thats What You Need to Focus On
Successful business owners and managers need to be very clear about what outcomes they want. Whether you call them goals, objectives or targets, these are the factors that you're ultimately judged on. Outcomes determine whether your business is a success or a failure. If you're an employed manager, you'll find them in your job description or contract and I'm sure your boss will concentrate on them at your next performance review. Outcomes are what you're paid to achieve. Many business owners and managers allow themselves to be distracted and diverted from their outcomes. They get involved in all sorts of situations that take their "eye off the ball." I regularly run a workshop for managers called - "Managing Your Priorities." At the start of the workshop I ask the managers to draw a map on a large sheet of flip chart paper of all the things they do in their job. They almost inevitably fill that page with all sorts of tasks and activities. More often than not they surprise themselves with what's on the page. I then ask them to identify and mark with a large cross, their real priorities, and the outcomes that they're ultimately judged on. Out of all the tasks and activities on the page they usually cross only five or six priorities and sometimes less. (You might want to try this exercise yourself sometime). What we do find however is that the priorities that they cross are not allocated the time they deserve on a day to day basis. The managers will often blame their senior manager for many of the tasks which divert them from their priorities, which is perfectly fair. However there are many tasks that a manager takes on because: 1. They don't like to say "no" or - 2. They don't trust anyone else to do it or - 3. They just 'like' to do it themselves. I then spend time in the workshop showing managers how to communicate with their senior manager and their other colleagues in order to minimise the number of tasks that don't contribute to their outcomes. Many managers fall into the trap of believing that their manager will understand why they haven't hit their target or quota. They seem to think that because the senior manager has handed out all sorts of other tasks, then they'll accept your failure to achieve your target. Well let me tell you now - they won't! Some business owners believe that their bank manager or investors will understand all the reasons why they haven't achieved their business outcomes. However, as I'm sure you know, bank managers and investors only want to hear that you've achieved what you said you'd do. The successful business owner or manager keeps very focussed on outcomes and doesn't allow anyone or anything to divert them without good reason. It's also important to focus on outcomes as far as your team are concerned. Sometimes the people in your team will be only too happy to do other little jobs and tasks that you ask them to do. I've had salespeople say - "Oh, I'll deliver that to the customer, it's on my way." Customer service people will say - "I'll go and talk to distribution or finance department about that." You have to keep asking yourself the question, "Is what they're doing helping me to achieve my outcomes?" If the answer is "no" then don't let them do it. Make it clear to your team what the outcomes are and don't concern yourself too much about how they get there. Now that doesn't mean that you encourage a salesman to get a sale at any cost, or a chef to use inferior ingredients. And you obviously don't want a maintenance engineer cutting corners that could jeopardise safety. However it does mean using the thinking part of your brain and not listening to your inbuilt programs. Your people may not do a job the way you would do it but that doesn't necessarily mean it's wrong. I've often listened to a salesperson speaking to a customer and found myself thinking - "That's not the way I'd do it." The temptation then, is to jump into the conversation or speak to the salesperson afterwards. However I've learned to keep my mouth shut, because many times the salesperson closed the business, the customer was happy and it probably was better than I would do it. I checked into a hotel recently and as I signed the paperwork the bubbly receptionist complimented me on my cologne. She asked what kind it was so that she might buy some for her boyfriend. Now I know this hotel chain and this isn't part of the welcoming speech. I also know that some managers would discourage this level of familiarity between staff and customers. But I'll tell you something - as a customer, I loved it, she certainly brightened my day. Her response was far better than some of the stuffy robotic greetings you get from most receptionists at the major hotel chains. This receptionist had made me a happy customer and if I owned this hotel that's an outcome I would want. The successful manager defines the outcomes to the team members and then lets each person find their way of getting there. That doesn't mean you walk away or have no idea what's going on. You need to be constantly out there with the team, watching and listening and supporting what they're doing. I believe that two characteristics of successful business owners and managers are - 1. They get the job done and 2. They do it in the easiest and least stressful way. I'm just pointing this out, because to try and control your team's activities and get them to do things the way you want them done, is extremely stressful. It can also mean that you de-motivate the team and then it'll be much harder to achieve your outcomes. Discover how you can generate more business by motivating your team! Alan Fairweather is the author of "How to get More Sales by Motivating Your Team" This book is packed with practical things you can do to get the best out of your people . Click here now http://www.howtogetmoresales.com
MORE RESOURCES:
Ernst & Young recognizes Robert H. Lee as entrepreneurial maverick - Canada NewsWire (press release)
Entrepreneurialism - Google News |
|
|
|
RELATED ARTICLES
The Use of Common Stock in Venture Capital Transactions When raising capital for a business venture, a company can either raise debt capital, equity capital or a combination of the two. Debt capital is money loaned to the company at an agreed interest rate for a fixed time period. Top 10 Mistakes Entrepreneurs Make Before They Even Start So you want to start a business. You have an idea. Part-Time/In-Home Business - Low Expense and Low Risk As a first time entrepreneur, there are a variety of franchises, dealerships, distributorships, and licensing opportunities available for purchase. Many of these you can start by working part-time from your home. Protect Your ASSets in Business Many people are starting an online business without a thought about the danger this may pose to their personal assets. The type of protection you need depends upon the nature of your business and the amount of your personal assets. Use Your Youth To Your Advantage You should wait until you're older and have more business and real-world experience before starting a business. You should just focus on school for now. PTO; Justification of the Means and the Ends Some would say about certain issues that the means do not justify the ends. Well more often the ends do not justify the means. The Magic of Float If you've ever received a service today and paid for it in 30 days you've experienced the concept of "float" - the time difference between when you receive a service and when you paid for it. In most cases this time period is a convenience to you as a customer, but in the world of business marketing it can absolutely transform your business. Entrepreneurs, Are You Hauling Buckets? Once upon a time, there was a village on the banks of a fine, clear river. The villagers all drew their water from the river, and used it to cook, and bathe and water their gardens. Entrepreneurs - Your Well Being Should Come Before Profits I believe the spiritual aspect of life, especially to entrepreneurs, is very important. While business may be the focal point for an entrepreneur's life, it's your outlook on life that shapes what kind of person you are. Differentiation Strategies for Franchise Companies With the growing number of franchise offerings recently it is difficult for the smallest franchise companies to compete. They generally do not have the advertising budgets to pick and choose which markets the franchise prospects will be calling from. A Startup Never Closes When it comes to a startup, the luxuries shared with established companies are few and far between. Chief among them is the luxury to close at the end of the day. Outcomes - Thats What You Need to Focus On Successful business owners and managers need to be very clear about what outcomes they want. Whether you call them goals, objectives or targets, these are the factors that you're ultimately judged on. My Nemisis Living in the twilight zone has its advantages. In the early days of starting my business, I found the limitations of living in a rural area to be restrictive. Entrepreneurial Ongoing Education Advice I would like to give some advice to all the up and coming entrepreneurs; if you really want to be a superstar not only do you have to work harder and smarter than the competition, but you must always keep learning. I built a company from a bucket of water and a sponge into a National Car Wash Franchise System in 23 states. Walt Disneys Failures Could Inspire Entrepreneurs You are a struggling entrepreneur and sometimes it feels like you are pushing a 3 ton boulder up a steep hill. Costs keep mounting and you are considering giving up. The Heroic Entrepreneur: Profiting from Your Brilliance If you look up the definition of hero in Webster's, you'll find a definition something like, 'A person noted for feats of courage or nobility of purpose, especially one who has risked or sacrificed his or her life: soldiers and nurses who were heroes in an unpopular war'. Some heroes in our lives have earned that badge of honor by doing something everyone feels is heroic as defined in the traditional sense, whether it's running into a burning building to rescue a child, pulling an injured woman from a car accident, or fighting the enemy in the time of war. The Myth of Undercapitalization - Six Ways Entrepreneurs Achieve Success in Spite of Start-Up Money This year more than 17 million people will become entrepreneurs, according to the National Association of Self Employed (NASE). By the end of the year, 8 million of them will return to the corporate world because their entrepreneurial effort did not succeed. The Visionary Entrepreneur Any success you have in life must begin with a vision. A vision is the ability to see what others cannot see. Beware the Opposition! Any time you make changes in your life you are going to be met with opposition from people who would prefer you to stay exactly as you are. Sadly, these people are often the ones that love you the most; your family, friends, partners and even work colleagues. Should You Write Your Own Business Plan? If you are just starting a company and looking for funding, or looking for additional funding for growth, you will need to develop a traditional business plan. Creating a business plan is a business hurdle that entrepreneurs seem to dread.
|
| home | site map |
| © 2006 |
