Archive for January, 2009
Is your fear setting you back?
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Have you ever stood by watching someone get angry? These days, it’s pretty easy to lose your cool. Sure, most of us are happy when times are good. But times aren’t good. The economy we find ourselves in is almost as bad as it gets, and it affects nearly everyone.
At last count, more than a half a million workers have lost their jobs since this recession officially began. The families of those half a million workers have lost, perhaps, their only source of sustenance. That makes about two million people wondering how their daily needs are going to be met.
Business owners who count these two million people as customers or clients are finding their own business down. And as these businesses continue to deteriorate, the misery grows. As the stocks in these businesses decline or become worthless, even those who are seemingly insulated from job loss are finding themselves reluctant to spend. So, more business dries up and the misfortune continues to spread to every corner of the country. Everyone is affected to some degree.
In this environment, we understand why people lose their composure. Or do we? Imagine yourself in a business meeting with vendors or customers. Your customer is cutting his order by 40% “due to the economy.” Your vendor is raising his prices in order to “cover increased bad debt expenses.” Even in the best of times, it’s natural to feel anger. You have forecasted and planned based on the inputs of others, and now they aren’t following through. You may even decide not to do business with them in the future.
But these are not the best of times. The sense of anger we feel today isn’t stemming from having our plans ruined or our commission jeopardized. This anger is a reaction to fear. Your customer is fearful because he can’t really afford his original order. Your vendor is fearful because his income is no longer covering expenses. When the day comes and the economy hits you, if it hasn’t already, be careful not to react in anger. What you are really feeling is fear.
That feeling of fear that accompanies uncertainty could easily manifest itself as anger. But, unfortunately, when this happens, the targets of your anger are the very people whose support you need the most: your customers and your vendors. Even if they can’t support you right now.
So, what should you do if you find your business – and your livelihood – threatened?
- Understand what your customers and you are going through. After all, the very nature of an economy implies that we are all in this together.
- See the opportunity in front of you. While it may not be an opportunity to bring in revenue, it is an opportunity to build some very important and very strong bonds for the future.
- Keep the lines of communication open. Networking is more important than ever, and you can’t network if you aren’t speaking to people. You may find that you are able to work something out that is beneficial to one or both of you, either directly or indirectly.
So while it may be natural for your fear to turn to anger, don’t let that happen. Don’t become part of the problem. Become part of the solution. Remember that those who pull each other up in the hard times, are the very people who fly together when good times come again.
Accountability
Posted by: | CommentsHolding yourself accountable for your actions is the first step in recovering from any less than optimal situation. By knowing your part in each event that happens in your life, and by becoming aware of your choices that resulted in your experience, you will have the tools needed to reshape your future.
Honesty and Integrity is the foundation of accountability. You can live a life blaming others and continuing to be a victim of circumstance or you can become accountable and own your part in the events that have taken place in your life.
A very simple task that can help you identify your part is to inventory your experiences and resentments. Then acknowledge what those things affected in your life. After writing out the blame game you can now look at the list from a different perspective, and include what decisions you made in each of these events.
Most of us have, at one time or another, denied responsibility for circumstances in our lives. Many of us have gone on to believe the lies, and have even warped the truth to best fit our description of events in order to convince others – and ourselves – we were victimized, and it was not our fault.
It is sometimes necessary to clean the plate and move on. Give up the truth and own your part by being completely honest about a situation to those directly affected. When you take the time to correct past mistakes where you failed to be accountable you release the hold on you that comes with covering up the truth and continuing with the deceit.
Sometimes accountability is not just about the past. As we choose goals and desires for our future, setting intentions and holding ourselves accountable for the actions that must be taken to achieve those goals is vital to success. And it’s work. I believe adhering to the following principles helps us be accountable and, imminently, successful
- Assign yourself daily tasks.
- Don’t back out of your commitments.
- Consider logical consequences and be prepared.
- Model people with responsible behavior.
- Choose a person to help hold you accountable.
What makes someone a good decision maker?
Posted by: | CommentsSuccessful business leaders tend to be very observant and are exceptionally good at decision-making. Part of what makes them good at making the right decision quickly is their education and past experiences. A business-savvy executive acts fast, but not without clear intentions and strategic thought.
Your past experiences, direct and indirect, is the raw material you use to make smart, strategic decisions. For this reason, it is very important to be fully vested in all that you do, hear and see. Those who pay attention and “live in the present” tend to be better decision makers.
If you missed important information in a previous conversation or meeting, don’t try to work around it. Go to the source and ask questions. The ensuing conversation will not only fill in the missing data, but it may lead to other insights that would otherwise be missed. Invite an opinionated friend over to strategize. Plenty of great ideas come from thought-provoking conversations. Once you decide to take your idea to the next level, the strategies below can help you turn your idea into a successful venture:
- Self Confidence – having a confident demeanor will captivate your audience
- Conviction – believing in your message will influence others to do the same
- Education – knowing your subject matter as well as your competition’s products and services will give you an edge in business as well as the ability to answer pointed questions.
- Follow through – it is not enough just to make a sale. Follow through on your commitments and promises. Delivery and service after money has changed hands is key to a happy, and long-term, client.
Even the best decison makers occasionally have to change course midstream. Don’t be afraid to re-evaluate when new information is available. If there is too much to risk for the reward, then make the decision not to proceed. If you find you are unable to provide what you promised, partner with someone who can help and immediately provide a time frame to your clients. Having an unhappy client can set back your business and recovery can be very slow.


