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.

INNOVATE TO CREATE YOUR VALUE PROPOSITION

INNOVATE TO CREATE YOUR VALUE PROPOSITION
Having a unique value proposition will differentiate you from your competition. Most people are at a loss when it comes to articulating their unique value proposition. Many companies say that their service is what sets them apart from their competition. They will say, “Our Service is what sets us apart. We give great customer service.” If that is your answer, I would ask you to think about that. Doesn’t everyone claim to give great service? What is unique about yours? You really need to go a step above that by exceeding your customers’ expectations. One way to do that is create a product, a service or an experience that is innovative in your customers’ eyes. What would really wow your customers? Steve Jobs achieved that wow when he created the iPhone, an invention that was less of a phone than something holding most of our needs that we can carry anywhere....
Continue reading
  841 Hits
  0 Comments

PREDICTIVE MEASUREMENTS CAN CREATE BUSINESS SUCCESS

PREDICTIVE MEASUREMENTS CAN CREATE BUSINESS SUCCESS
Measurements make a difference in the operation of your business. You may have heard the expression, “If you can’t measure it you can’t manage it.” Well, if you want to have a sustainable business you need to have a strategic plan, which includes those goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having a plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however, is a measure of what has happened in the past. It may not predict what will happen in the future. Predictive analytics is the best way to step in and create your business future. It is far better to rely on predictive measurements to make decisions than to rely...
Continue reading
  1223 Hits
  0 Comments

FRESH EYES FOR YOUR WESTCHESTER NY BUSINESS

FRESH EYES FOR YOUR WESTCHESTER NY BUSINESS
Do you see your Westchester County NY business the way that others do? You have been working in your business for a long time. Many times, when you see something every day you stop noticing. Does that make sense? 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. But you say, “I’m ok now because I have my routine set and it works without me thinking about it.” Here are two questions to ask yourself. Has a new team member joined and pointed out things you didn’t see? Have you had any suggestions or complaints by customers? Sometimes a person with a fresh set of eyes is needed to point...
Continue reading
  1069 Hits
  0 Comments

INVOLVE EMPLOYEES IN PERFORMANCE DEVELOPMENT

INVOLVE EMPLOYEES IN PERFORMANCE DEVELOPMENT
Westchester employers are asking how they can get productive employees who will stay. You can’t just hire them. You then need to develop your employees so that they can produce better results. Your employees really want opportunities to grow and develop. There is so much out there written about performance reviews. Many of these writings focus on procedure. Here is a more practical bottom line approach but one that uses solid human relations skills. Performance management includes performance development. It is not merely enough to tell an employee here is your job description and see me if you have any questions. Establish expectations from the start. Help orient your new employee by helping him or her to understand the big picture for your organization. Share the organization’s vision, values, and mission along with the organizational goals. You will have more success if you are as transparent as possible. In order to...
Continue reading
  848 Hits
  0 Comments

WHAT IS THE ROOT CAUSE OF THE PROBLEM IN YOUR BUSINESS?

WHAT IS THE ROOT CAUSE OF THE PROBLEM IN YOUR BUSINESS?
You are noticing that something is not right, but you can’t figure out what it is. I receive calls like this from business owner and it’s my job as the business doctor to learn the symptoms and then diagnose the problem. During my consultation I ask questions, listen for answers, and then ask some more questions. As an example of symptoms, here are some statements that I hear from the owners. Our sales have begun to level off. We can’t get our employees motivated. We are getting more customer complaints. We have new competition. While these sound like normal business problems there is no simple answer for them. It is important to look at the whole picture rather than make a reactive fix. It is better to take a proactive look. It would be a mistake to treat the symptoms rather than cure the disease. Many reactive business leaders treat the...
Continue reading
  1377 Hits
  0 Comments

HOW DO YOU PREDICT FUTURE SUCCESS?

HOW DO YOU PREDICT FUTURE SUCCESS?
You have finished your strategic plan for next year and created your goals. Now you must implement but how do you know it you are on track for future success? You have had some strong business growth, but that performance is no guarantee of future results. Just because you were successful in the past does not mean you will be successful in the future. I work with business owners in Westchester County New York who define success through their vision, their values, and goals. In addition, they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” To begin, you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many...
Continue reading
  895 Hits
  0 Comments

MEASURE THINGS THAT MATTER

MEASURE THINGS THAT MATTER
How can you tell if your business is growing? Very simple, you measure it. You may have heard the expression, “If you can’t measure it you can’t manage it” In my consultation with my business owners in Westchester County we work on success through focusing on their vision, their values, and goals. Then they execute their goals and measure results. You need to have a strategic outlook on your business. Another way of saying this is that you look at the whole rather than the parts or you must work ON your business rather than IN your business. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however, is a measure of what has happened in the past. It may not predict...
Continue reading
  1678 Hits
  0 Comments

CAN MY BUSINESS SURVIVE WHEN I AM NOT THERE?

CAN MY BUSINESS SURVIVE WHEN I AM NOT THERE?
If your business will not survive when you are not around, then you do not have a business. You have a hobby. I recently had a client company mention to me that the owner had taken some time off and during that time sales dropped off substantially. A business is certainly not sustainable if it collapses as soon as the owner leaves. Such a business will never be able to get passed on or sold. Does this sound familiar? If it does here is the cause of the problem. The business owner wants to have growth and stability but does not trust his or her employees. The solution will lie in the owner becoming a leader who trains, develops, empowers, and delegates with confidence. It is important to have the right people doing the right jobs. Start by having job descriptions for everyone. Make sure that every staff member is qualified...
Continue reading
  2310 Hits
  0 Comments

MAKE 2018 THE BEST YEAR IN YOUR WESTCHESTER NEW YORK BUSINESS

MAKE 2018 THE BEST YEAR IN YOUR WESTCHESTER NEW YORK BUSINESS
We are working with business owners in Westchester County who are working on making their businesses more successful. These businesses define success through their vision, their values, and goals. Then to stay on top of their business they monitor and measure results. Once you set your goals you need to make sure you are on track. You would not take a cross country car trip without using your GPS to make sure you are on track. So similarly, if you want to have a sustainable business you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however,...
Continue reading
  2425 Hits
  0 Comments

IF YOU CAN’T MEASURE IT YOU CAN’T MANAGE IT

IF YOU CAN’T MEASURE IT YOU CAN’T MANAGE IT
Another thought this time of year when we are working on our business plans for the next year.   We need to have clear objectives and goals.   You may have heard the expression, “If you can’t measure it you can’t manage it” Well, if you want to have a sustainable business you need to have a strategic plan, which includes those goals and objectives, and a way to measure your progress.   Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it.   For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit.   That, however, is a measure of what has happened in the past.   It may not predict what will happen in the future. Using measurements that predict whether you are...
Continue reading
  2019 Hits
  0 Comments

THREE STEPS TO TURN YOUR BUSINESS INTO A LARGE SUCCESS IN 2018

THREE STEPS TO TURN YOUR BUSINESS INTO A LARGE SUCCESS IN 2018
Small business is poised to generate many new jobs in 2018.   We need small business to grow our economy and will need local small business.   I have had the pleasure over seeing many small businesses grow in the last years and expect more in Westchester County New York in 2018. While it is true that today’s business environment can seem somewhat volatile there have also been many more opportunities with the growth in the economy.   While I don’t want to oversimplify I believe that small business owners can leverage success by following the suggestions in the three following steps. Step 1 – Think Strategically then follow through. When you think strategically you work ON your business rather than IN your business.   You are future focused.   You decide where you want to take your business now and in the future whether it is in 5 years, 10...
Continue reading
  3474 Hits
  0 Comments

TAKE YOUR BUSINESS TO THE NEXT LEVEL IN 2018

TAKE YOUR BUSINESS TO THE NEXT LEVEL IN 2018
Are you ready to take your Westchester County NY business to the next level? Most businesses say yes but do not know what that means.   First, you need to know where your business is now. Then you can see where you want to go.   Businesses like people go through growth stages and many drop off along the way.     Some businesses may survive due to external dynamics and then become stagnant.   The root cause could be a lack of entrepreneurial leadership. For example:   There are numerous great cooks and chefs that feel that because they understand how to create a great meal that, therefore, they would be a natural to open a restaurant.   They open the business and make sales. However, the owner is usually consumed with running the business and catering to every little detail.   There is very little time to step away from...
Continue reading
  2399 Hits
  0 Comments

FIVE WAYS TO TAKE CONTROL OF YOUR BUSINESS AND LIFE

FIVE WAYS TO TAKE CONTROL OF YOUR BUSINESS AND LIFE
If you are a business owner, you so busy doing little things that you may feel like a hamster on a wheel. You may be spending too much time working in the day to day minutiae you are missing the big picture. Many blame the rapid pace of technology for this dilemma. Technology, while automating things that used to take much more time has also created new pressure. Instant communication on handheld devices gives us the sense of urgency and feeling that we must always be working. Everything seems to go faster, leaving everyone feeling overworked, overloaded, and overwhelmed.   If you are feeling this way it may be time to step back and look at your vision, your goals, and your overall purpose. Here are some tips to help you do that. 1. Know Your Purpose. Know your vision, your goals, and your plans because these help you set priorities. Each...
Continue reading
  3024 Hits
  0 Comments

CAN YOUR BUSINESS RUN WITHOUT YOU?

CAN YOUR BUSINESS RUN WITHOUT YOU?
If you do not have a business where you can walk away when you want, then you don’t have a business but rather, you have a hobby. This is not a bad thing because this may be your business goal. You may wish to work solo. For the rest of you, you might want to read further. Does your business survive due to external dynamics and timing but will become stagnant when you are not there? In this case you might feel like you are a hamster on a wheel. There is a lack of entrepreneurial leadership. As an example, in the restaurant industry there are numerous great cooks and chefs that feel that because they know how to create a great meal. They decide to open their own restaurant. The restaurant might open and have sales but the owner might be so consumed with the food details that he might...
Continue reading
  2258 Hits
  0 Comments

HOW TO DEVELOP A LOYAL CUSTOMER BASE

HOW TO DEVELOP A LOYAL CUSTOMER BASE
HOW TO DEVELOP A LOYAL CUSTOMER BASE Peter Drucker said that the purpose of business is to create and keep a customer. It is really that simple. Creating a customer is done through a clear message and marketing but keeping a customer is based on performance. There are not enough businesses that reason focus on what works to retain a customer. A company that says it separates itself from others by service usually does not know what that really means. As an example it seems that the majority of businesses are focusing on customer satisfaction to determine their customer service measurements. This measurement is flawed and often falls short of actionable expectations. Companies also make a mistake in the method of measuring the voice of their customer. Asking people to write a rating on social media is MARKETING not measurement. Measurement is consistent, private, and asks for the good, the bad,...
Continue reading
  2233 Hits
  0 Comments

ARE YOU WORKING ON YOUR BUSINESS?

ARE YOU WORKING ON YOUR BUSINESS?
As a business owner do you sometimes feel like you are a hamster running on a wheel. That is because are working IN your business, chasing every detail and putting out every fire. This is natural because it is what you first did as you started your business. You know how to run the business but that does not mean you are managing it. When you stop working does the business stop? If this is the case, then there is a lack of entrepreneurial leadership. For example, in the restaurant industry there are numerous great cooks and chefs that feel that because they know how to create a great meal that that they should open a restaurant. The restaurant might open and have sales but the owner might be so consumed with the food details that he might neglect other parts of the business. In most cases the business stops when...
Continue reading
  2555 Hits
  0 Comments

WHAT ARE LEADING BUSINESS SUCCESS INDICATORS?

WHAT ARE LEADING BUSINESS SUCCESS INDICATORS?
Past performance is no guarantee of future results. You have heard that statement at the end of most investment advertisements and with good reason. Just because you were successful in the past does not mean you will be successful in the future. I work with business owners in Westchester County New York who define success through their vision, their values, and goals. In addition, they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” To begin, you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. But that,...
Continue reading
  3283 Hits
  0 Comments

HAS YOUR ORGANIZATION BEEN HITTING ROADBLOCKS?

HAS YOUR ORGANIZATION BEEN HITTING ROADBLOCKS?
Have you been hitting roadblocks in your business? As I listen to many owners of businesses from restaurants to manufacturing to non-profits they are looking to remove the roadblocks and move forward. If any of these comments sound familiar, then you might have roadblocks in your organization. Our sales are flat. We can’t get our employees motivated We have high staff turnover. We are getting more customer complaints. We have new competition. These are several very key problems and there could be many more. Yet for each of these problems there is a root cause. The problems can be solved by being proactive rather than being reactive. How many people recognize these problems as symptoms? Those who do make the mistake of attacking and treating the symptoms. However, it is a mistake to put all your effort into treating these symptoms. Many reactive business leaders take this approach. For example, the...
Continue reading
  2485 Hits
  0 Comments

DO YOU HAVE A GOAL TO HAVE A BUSINESS THAT DOES NOT RUN YOU?

DO YOU HAVE A GOAL TO HAVE A BUSINESS THAT DOES NOT RUN YOU?
Many businesses are started each year. Many don’t last. Michael Gerber, in his book “The E Myth Revisited”, discusses the reasons. The e-myth or the entrepreneurial myth as described by Gerber incorrectly assumes that the desire of the new business owner or entrepreneur, plus capital, plus a profit goal will result in success. But this has not spelled success for business and the lack of the true understanding of what it takes has caused businesses to fail. Some businesses may survive due to external dynamics and timing but they will become stagnant and the owner will feel like a hamster on a wheel. There is a lack of entrepreneurial leadership. For example, in the restaurant industry there are numerous great cooks and chefs that feel that because they know how to create a great meal that that they should open a restaurant. The restaurant might open and have sales but the...
Continue reading
  4516 Hits
  0 Comments

BALANCED SCORECARD LEADS TO MORE SUCCESSFUL BUSINESS OUTCOMES

BALANCED SCORECARD LEADS TO MORE SUCCESSFUL BUSINESS OUTCOMES
You need a balanced approach to management in order to obtain great business results. Why? You need it because your organization will have multiple goal categories, goals and action steps. The flawless execution of these action steps will result in a loyal customer base. The end result will be more sales and profits. But how do you keep it all on track? The Balanced Scorecard, in my opinion, is the best way to stay focused on all of the organization’s goals and keep your staff on track too. Very simply a balanced scorecard is an ideal form of performance measurement. The business leaders identify a small number of financial and non-financial measures and attach goals to them. When the results are reviewed it is possible to determine whether current performance 'meets expectations. By alerting managers to areas where performance deviates from expectations, they can be encouraged to focus their attention on...
Continue reading
  8133 Hits
  0 Comments