PD Strategies Blog

PD Strategies Blog

Performance and Development Strategies Blog is the informational place to get timely and purposeful articles on the issues that concern you most.

PREDICT THE FUTURE SUCCESS OF THOSE YOU HIRE

Encouraging-High-Performance
Is it possible to predict a person’s future performance before they are hired? You can do this by behavior-based interviewing. If you are not looking at behavior when you are interviewing you should be. Jim Collins and his team laid out the principle in the book Good to Great. It is as simple as “Getting the right people on the bus, the wrong people off the bus, and the right people in the right seats.” It may be simple but it’s not easy. You will need to change the way you hire people. Here is a simple fact. Managers tend to make hiring decisions by looking at background in the industry, jobs held before, and job history. Many companies even do background checks. They spend a significant amount of time looking at a candidate’s skills and knowledge before extending an employment offer. Fast forward. We now learn that an employee “is...
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PREDICTIVE ANALYTICS FOR YOUR BUSINESS SUCCESS

Entrepreneur

You already know what happened in the last quarter, but do you know what will happen in the current or next quarter. If you want to have positive results for your business will need to measure and control the things that matter. As a business leader you need to see the big picture. That includes tracking the pulse of your business. Watching a dashboard of controls tells you if your car is operating properly. Having a dashboard for your business will tell you if your business is on track to reaching your goals.

As a leader who is working ON your business you will need to track important trends which can quickly warn of problem areas that need attention. You should not waste time getting bogged down in the small details of working IN the business or you will miss the forest for the trees.

You should measure business success by measuring trends and directions not numbers. Looking at the numbers alone will not tell the entire story. You should be measuring the trends and the movement toward the critical goals of your business.

These are some things that are worth measuring.

Finances – revenues and sales, profits, cash flow

Inventory – unusual drops or increases

People (Employees) – productivity, turnover, employee engagement scores

People (Customers) – customer satisfaction, customer loyalty scores

This information is vitally important to the leader of the business.

Of all the measurements one measurement that is the most important because it is the biggest predictor of future success. It is NOT finance and profit. That may surprise you. Of course, profit is indeed very important but is a measure of what has already happened. It should come with the same warning put on mutual funds which is “This represents past performance, which is no guarantee of future results.” That’s right. Just because you have had good sales and profits last year does not mean that you will have increased sales and profits this year. Sales and profits are TRAILING indicators.

Business Dashboard

A LEADING indicator which will predict future success is customer loyalty or the customer loyalty score. The most important measure of customer loyalty is the answer to this question. “How likely are you to recommend us to your friends?” You should survey your customers with this question along with other customer questions that will help you understand what you need to do to exceed your customers’ expectations. Whatever else you measure make sure that you track this. Rising scores will lead to more sales. In the same manner falling scores will predict decreased sales.

If you measure customer loyalty and see opportunities for improvement take action immediately. Taking the correct steps will help you create more sales, profits, and success.

Learn how to create predictive controls for more business success.

Contact Us for a Free Consultation

or call 914-953-4458.

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BUILD AN ENGAGED WORKFORCE BY BEING INCLUSIVE

Aligned-Team
Why do people leave jobs? There are certainly any number of reasons. We certainly will not deny a very attractive opportunity. The money and the opportunity certainly must be worth staying. We know that it is important to our business success to have an engaged team dedicated to working together for a group result. So why do so many employees leave, or worse, why do they stay and become a drag on the organization? Here is a sobering fact. Employees do not leave companies, they leave supervisors. Many supervisors believe that if only the pay and fringe benefits were better their best employees would stay. I would not deny the compensation is important. However, people who are truly engaged with their company and their team have a sense of belonging. They will not leave for a slightly better offer. We have a diverse workforce in 2020. It is not enough to...
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DO YOUR EMPLOYEES GET TO DO WHAT THEY DO BEST?

Competencies-and-Skills
Every day I get to do what I do best. When your employees are asked that question how will they answer it? Your organization will be more productive if you know your people’s strengths and give them the opportunity to leverage them. From an employee engagement standpoint people will burnout and leave if they are constantly in stress trying to improve their weaknesses. But this activity may actually be baked into our nature. For example, when your child comes home from school with his or her report card and it shows, for example, an A in math, B’s in history and science, and a C in English, what is your response? I am sure this is the reaction. Most people will talk to their child about raising the grade in English. But what if your child might have a real talent in math? He or she might become a great math...
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SUGGESTIONS ON BUILDING GREAT WORK TEAMS

Employee-Value-Proposition
As business has changed the hierarchical organization chart has given way to flat organizations with cross functional teams. The recent need to work virtually has only accelerated this trend. It is not enough to be a great individual performer if that performer can’t work with anyone or collaborate. “The way a team plays as a whole determines its success. You may have the greatest bunch of individual stars in the world, but if they don’t play together, the club won’t be worth a dime.” Think about this quote as it relates to the business world. All organizations have a great number of individual stars or top performers – employees who are skilled and knowledgeable and have the necessary attitudes and behaviors to accomplish anything they desire, yet the organization is coming up short on their results. According to Suzanne Willis Zoglio, Ph.D. author of 7 Keys to Building Great Work teams,...
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ARE HARMFUL HABITS HOLDING YOU BACK?

Erase-Bad-Habits
A great opportunity now exists to break some bad habits. I know in my own case just the shutdown eliminated a bad habit. It is now been quite a while and now the new successful habit has replaced it for good. Our success or failure is driven by our habits. A bad habit can cause us to continue to do things that are non-productive or destructive. For example, you might have a habit of laying back and taking it easy. The result could be panic when you are up against a deadline. The result could be failure to meet the deadline or failure to achieve good results. All of this is the result of living in a comfort zone. That comfort zone exists for us because we are deriving satisfaction for our current habits. As an example, many people have trouble sticking to a diet because it is more comfortable to...
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HOW ARE YOU VIEWED BY STAFF AND CUSTOMERS? CAN YOU HANDLE THE TRUTH?

Message-from-Leader
How are your employees viewing your Westchester County NY business ? Do you know or is it wishful thinking? And what about your customers? Maybe you have no complaints and you figure no news is good news.  Many times, when you see something every day you stop noticing. For example, when you started your business you were focused on how you were going to get customers and what resources you would need to deliver the products and services to those customers. That might have been 2 years ago, 5 years ago or even 10 or more years ago. Earlier this year you might have said, “I’m ok now because I have my routine set and it works without me thinking about it.” Now in this turmoil you may not be so sure. Are you ready to learn more weather it is good or bad? Can you handle the truth? Here are...
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WHY PEOPLE MIGHT NOT BUY WHAT YOU ARE SELLING

Assistant-Buyer
People do not like to be sold but they sure love to buy. Today people may even be saying that they want to buy but not top of mind now. There is please going on in minds of individuals and companies. In these turbulent times it might be I am not even sure what to do next. But people do need to buy and we still do need sales. We need sales more than ever but we no longer need or want the old time sales where the salesperson has more information than the customer and uses that information disparity to persuade (or force) the customer to commit. Now we must be more skilled in the sales profession because we are an assistant buyer assisting a highly educated customer find a solution.     Helping provide a solution requires attunement. We will be more attuned if we ask important questions and listen carefully...
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ARE YOU FOCUSED ON THESE FIVE AREAS

Highly-Effective-Leaders
It is important to be focused on your business but even more imperative now. Most successful business owners cite laser focus on the right things as paramount to their success. Staying focused and staying sharp on the things necessary to grow and change is important. But sometimes business gets lazy and in a rut. The owner stops seeing the big picture. The business has had years of successful sales and profits. Since the business is still making money and continuing to operate the reasoning is if it is not broke don’t fix it. But recently the business has experienced a decline in sales and profits. In short, there have been changes in the economy and the market. To remain successful, the business owner must refocus. How are you doing? Take this 5-area checkup: Make sure you know what business you are in. If you make cell phones do you provide smart...
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DO YOU NEED TO DO A BUSINESS REBOOT?

Getting-Started
It is time to reopen your business. Well maybe it is not that easy because what you left off with is not there anymore. It looks like it is going to take some extra effort. That makes sense because it is a simple law of physics. It takes more energy to start up than it does once you are moving along. First you must get back the momentum. But doing that reboot must first be done. Why not just do it? Well for one thing many do not want to do until they have thoroughly analyzed each step. That is called the paralysis of analysis. A coach colleague of mine has coined this habit “Getting ready to go to work”. I cannot start until I get my brochures, business cards, website, 2 number 2 pencils—you get the idea! I have heard that 80% of people who say they want to run...
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REDO YOUR PLAN BUT KEEP YOUR CORE VALUES

Core-Values-Culture
Due to these turbulent times you should be readjusting your business plan. Most business plans begin with a statement of vision, mission, and values. Mission and vision can change as is the case now. However, core values should never change. Values are more important than anything else when selecting team members. You may now need different skills; you may be changing job duties; you may have new protocols; but your values should be cast in stone! If you know your core values and stand behind them, you can change goals and set new direction with confidence. Your values will help you with your WHY. Moreover, your why is much more important than your how. How many businesses can say why they are in business or articulate their basic business foundation? You might be surprised at how few really can. Your core values are of greater importance than vision. These are the...
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ENTREPRENEURSHIP – FAILURE AND SETBACKS ARE TEMPORARY

Entrepreneur
Many great entrepreneurs have something in common. At one point they failed in business but then they later became smashing successes.   Some of these entrepreneurs include Henry Ford, Walt Disney, Mary Kay, Bill Gates, and Richard Branson. The difference between these entrepreneurs and other business failures is that these individuals learned from their failures and used those lessons to build successful enterprises. Education is a short cut to experience. Our present crisis reminds us of the risks of entrepreneurship. But an entrepreneur understands the risks. Failures occur and unexpected events do happen. How the entrepreneur reacts to these setbacks will determine future outcomes. Several years ago, three of my colleagues and I shared some lessons learned from the front. You can avoid some of the mistakes which will lead to failure by taking note. Q. When you develop a business plan why do you put it aside and forget it. A....
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FOCUS ON WHAT YOU WANT TO ACHIEVE AND WHY

On-Top
The greater the reward the higher probability that the goal will be achieved.   We call this desire or passion motivation and it comes from within. Motivation comes from within and that means that you cannot motivate another person. You can, however, help create a spark to ignite their inner fire. That inner fire will drive motivation. That inner fire or passion is your WHY. If you do not have the WHY then the HOW will not matter. Knowing what motivates you is a key to achievement and knowing how to find motivation in others is a key to leadership. Dwight Eisenhower said that leadership is getting others to do what you want because THEY want to do it. Reach down and find that motivation and bring it to the surface. What is your passion? If you are not sure why not start by doing a dream inventory. List every dream you...
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TIME TO GET BACK TO BUSINESS BASICS

Entrepreneur
If you have been reading or following successful business owners, they will tell you to never stop marketing. Have you slowed down your marketing because of the current crisis? Maybe you have had so much business recently that you just took care of business but stopped feeding your pipeline. If you are still feeding your pipeline do not stop. If you have not, then it is time to get back to basics. Networking is a great way to build your business. But just like your other business processes, you need to have a networking process. You should have goals and measured outcomes. And here are a few examples of goal categories:      Identify suspects (those who might become prospects with further qualification)      Develop strategic alliances (sell things that compliment your product or service)      Develop referral sources      Develop and maintain relationships       Interactively prospect      Impact sales results You...
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TIME TO REALIGN

Aligned-Team
Are you getting ready to reopen your business? What will be your new realities? Things have changed in the business world where we operate. If you lead the business, you have ideas and plans about what to do next. What about your employees? They certainly have opinions and have been exposed to so much information. You are your team certainly want to get back to work. But while you all want to hit the ground running are you are understanding what to do next. In other words, are you and your team on the same page? If you really want to improve your organization you will want to learn the good, the bad, and the ugly. If you cannot handle the truth you won’t have an opportunity to make things better. With all the changes you will want to have an organizational assessment of your business. There are highly effective assessment...
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PEOPLE FIRST SALES SECOND

Loyalty
Many business advisors and sales consultants talk about how they want to be a trusted advisor to their client. Becoming a trusted advisor is a process that is built on credibility, trust and respect. Now more than ever we must put being a trusted advisor first. Dan Pink has written a particularly good book on the topic titled, “To Sell is Human”. In my opinion this goes to the heart of being a trusted advisor. Those who remember sales from years ago remember ABC which means Always Be Closing. This is a tactic that no longer works in today’s information rich environment. Using gimmicks to get sales in the past occurred because the buyer did not know what the seller knew. A person coming into a used car sales showroom never knew if the car was a “cream puff” or a “lemon.” Today we buy things from the Internet. In fact,...
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CULTURE CHANGE NOW

Consultant-with-Business-Owners
Depending upon the organization needs a culture change might be needed. People are updating their strategic plans in light of current turbulent conditions. It has been said that culture eats strategy for lunch. What does that mean? It means that everything comes from the culture of the organization. If you don’t have the culture that you want, you will have no choice but to change it. Attitudes drive culture. I love what Zig Ziglar said, “Your attitude determines your altitude.” The fact is that people do not put enough emphasis on how attitude affects performance. If you are the leader of the organization your attitude affects the culture of your organization and, ultimately, its performance. An organization that has a positive vision and values, and that has leadership that lives and promotes those values is creating a positive culture. But if there is a negative attitude at the top the culture...
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SETTING GOALS TO UP YOUR PRODUCTIVITY

SMART-Goal
With these turbulent times people are looking to restart and quickly become productive. To get a clear start I suggest first clearing obstacles. These could include things you are doing which are no longer necessary. Removing the obstacles will clear the way for achievement of new goals. Review your activities to see if they are really productive. Instead of planning what you will do, let’s concentrate on things you should not be doing. Einstein said that the definition of insanity is doing the same thing and expecting a different result. Maybe now is the time to make some changes. If any of you have ever done an assessment with a coach or you have had a developmental assessment for you job you probably saw a section on the worksheet that is titled “I will stop doing…” Attitudes, behaviors, and activities can account for our success or failure. We should be measuring...
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GO THE EXTRA MILE – CUSTOMERS WILL REMEMBER

Generations-in-the-workplace
People may not remember exactly what you did, or what you said, but they will always remember how you made them feel. Maya Angelou Those are wise words. People do not buy what you sell. They buy you. If they truly buy us they are a loyal customer. Nothing is more important to a business than a loyal customer. You can be making a lot of sales and have a good income, but you will not have that for long if you don’t have loyal customers. What is the best way to have a steady stream of loyal customers?   Under promise and over deliver. Customers generally have a level of expectation when they engage our services. It is important that we manage those expectations by being truthful about our procedures, deadlines, and outcomes. Failure to meet expectations of our customers will result in a lost customer. Doing exactly what we say...
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CRISIS BRINGS OPPORTUNITY TO RE BALANCE YOUR PRIORITIES

Procrastination-and-Time-Management
Sometimes it takes a crisis to present an opportunity for change. We may have been working hard and doing things that had limited value. Now we are in a situation to decide what needs to be done and what should be eliminated. How do you rebalance and move forward? Two things stand out for me. Be guided by your values and have a purpose then stay on course. You might say that this is your personal GPS. The comparison to using a GPS is an easy one. We have them in our car and on our phone. We use them to order a car on Uber or we use them to find a restaurant nearby. We have become more productive and less stressed because we have used this very simple tool to help us navigate. What is so remarkable about this instrument? First, it lets you know where you are now....
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