Business Summer Vacation

This is a time of year when many individuals go through changes related to life events including graduations and weddings. Many business leaders use this time to take stock of where things stand versus the goals they set out to achieve for the year.

The middle months of the year are often filled with uncertainty, because most businesses are behind where they expected to be. Owners begin to question assumptions, abilities and strategies. Some seek scapegoats for lack of performance and others view this as a time of frustration and uncertainty, unsure how to proceed.

However, it can be a time of review and revision. From that may come renewed energy and spirit, a new sense of purpose and an opportunity to do things differently. The ultimate objective remains unchanged, however: the achievement of results.

The strategy for doing a midyear review is a formula that includes the “six R’s” (as opposed to the three R’s known to every student) that mean rest, reflection, reviewing, rethinking, refocusing, and renewal. It is a simple formula that will see you to a new way to approach the second half of the year.

The summer months should include a time of rest. Leonardo da Vinci said that “Every now and then go away, have a little relaxation, for when you come back to your work, your judgment will be surer!” Use the summer time for taking time off so you can recharge your brain. Working all the time doesn’t bode well for anyone.

Often the summer months are not as hectic as during the first half of the year, so you can use this time to reflect and review what has taken place. This is an important task, because everyone needs to gain some perspective. da Vinci further stated that “… Since to remain constantly at work will cause you to lose your power of judgment.” Tackle the task by taking a piece of paper and dividing it in half. On the left side list the things that have been working, and on the right side list those that aren’t. Next to each, write why they are working or not. Review this list after some time has passed and you will gain some perspective that was missing previously.

When we gain this understanding, it allows us to rethink what we are trying to do, what our goals are and we can measure to see if our approach is successful or not. Sometimes we need to seek outside help to see if others have another way that might be better suited to our objectives. Don’t be afraid to ask for assistance because you might be surprised at what you hear. Don’t be afraid to see how others from other industries do things. Don’t be afraid to think beyond your own abilities. “Not failure, but low aim, is a crime” according to Lowell.

Once we rethink what we are trying to do, it is necessary for us to refocus on the ultimate objective. According to Gary Ryan Blair, The Goals Guy, “Achievements and accomplishments do not happen accidentally. They are the results of clearly defined goals acted upon until completion. Goals determine what you will or will not become or accomplish.” Take the time to write down your goals.
kineticdiecasting

The final step in the process is to renew your commitment to getting the job done. The strongest tool available is to orally commit to telling others what you are going to do. By putting your reputation on the line, and putting yourself out there, you can accomplish what you set out to do at the beginning of the year.

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Business Books you Need

Written in May 2004

“The Greatest Salesman in the World” by Og Mandino is written for anyone who wants to excel in their life through ethical means. It is true that you can change your life and this short book is an easy and enjoyable read for anyone who wants to make positive progress quickly.

www.Half.com

www.Powells

“50 Powerful Ideas You Can Use to Keep Your Customers” by Paul Timm provides great insight as to how anyone can use simple tools to retain customers. Idea number six, which details out a simple formula that can be used to explain to any employee the true cost of a customer walking out the door and not ever returning.

www.OldBooks.net

“The Art of Profitability” is a book reminds you of the old “Kung Fu” television series. This is where the master teaches the student various lessons. In the same genre, the old, wise consultant teaches the young businessman that there are many ways to improve profitability. Al “Chain Saw” Dunlap could have used this book. The author is Adrian Slywotzky.

www.DealOz.com

www.Books.Google.com

Gary Blair is known as the “Goals Guy” and he has two books worth recommending. The first is “Goal Setting 101” and the second is “Goal Setting Forms.” Both books are primers that just about anyone would benefit from reading and putting to use. These would be excellent gifts for someone graduating from high school or college.

www.GoalsGuy.com

Harvey Mackay is one of my favorite authors and his “Dig Your Well Before You’re Thirsty” is truly the only book you’ll ever need on networking. The book is written in a friendly style, offering lessons that might seem obvious but are not used as often as they could be. Actually, there isn’t any book by Mackay that doesn’t belong in your library.

“Moneyball” is a book that is changing the American pastime, baseball. Michael Lewis details a rich story of how one of the poorer teams, the Oakland Athletics, have managed to win so many baseball games. If you ask most baseball executives, managers and players what the goal of their team is, the answer will be “to win the World Series.” Not so the A’s. They have a goal of getting to the playoffs and they know exactly what it will take to get there…how many hits, runs and so forth. Can your business say the same?

Mark Landsbaum owns a marketing communications firm in Southern California and his book “Low-Cost Marketing” keeps the reader focused on the topic by asking, repeatedly “What’s In It For Me?” providing a perspective that we often forget about: that of the customer! That is one way to keep your marketing efforts focused! This is a very useful read for anyone who wants to make sure that their marketing efforts are working.

Every book by Jay Conrad Levinson provides something to learn, but “Guerrilla Marketing for Free” gives dozens of no-cost tactics to promote a business and create profits.

“If Your Life Were a Business Would You Invest in it?” is an adaptation of business principles to life. The 13 step program provides interesting insights to consider as we go through changes in ourselves, our situations at work and home, and life in general.

Reading is a luxury for individuals who are starved for time. Others prefer not to read for various reasons. As an alternative, you can likely purchase these recommended books on audiotape, in ether a cassette or CD format.

Knowledge is power. Keep sharpening your saw. Read, listen, learn, and apply it to what you do.

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Better Business in 5 Days

Several years ago Ed Bastarache of Renaissance Executive Forums stated that “everything either works for you or against you.” The more I think about that statement, the more I believe it to be true. In business, there is no middle ground for those that want to have a better business, and so one very concise way to improve things is to decide specifically what things either working for you or against you. Once you determine where things fall, you stop doing the things that don’t work and you continue to do the things that work in your favor.

I offer a very quick way to improve your business. It is so basic, so simple, that if you take the time to do the quick analysis and then follow through, your business will be very different just one week from now. You will be more focused and results will come faster. Since fewer resources will be used, your business will become more profitable.

Day One-People
Make a list of all the positions in the company and vendors that supply your firm. Include any independent contractors used. Position by position, organization by organization, determine whether or not the contributions they make and the results they deliver are positive or negative. There can be no middle ground. When in doubt, the answer is they are not helping the business.

After you complete this analysis, make a plan to eliminate to eliminate those positions not contributing to the goals of the organization. Do the same thing for vendors that supply you. Next to each position or organization you must list a date that the action will be completed by.

Day Two-Strategy
Take a long hard look at the vision of your firm. Does it still work? Either it does or it doesn’t. If it doesn’t, change it. Review the mission. Does it apply? If it does, make sure everyone in the organization understands it and fulfills it. Write that down how you will communicate this vital information on the sheet.

What are your long term goals for the firm? Take time now to review them and to update them as needed. To those that no longer apply, remove them. Create new ones that you have been thinking about but haven’t taken the time to write down. Keep the list short and focused; no more than five.

Day Three-Marketing
Make a list of all your current marketing activities. Next to each program, determine if that activity is bringing in the desired results. Either it is or it isn’t. Once that activity is done, make a second list of only those programs that are working for you. Count that list and at the half way mark, draw a line; those programs that are above the line you continue to execute, those below the line are now eliminated. You have now focused your marketing activities on those programs that actually work the best.

Day Four-Financials
Rank your customers from highest to lowest revenue, then rank them again from highest total profitability to lowest. Review your financials. There should be a natural correlation between the two variables (revenue and profitability). Those that generate low revenue are hurting your business just as those who provide minimal profitability. Make plans to eliminate those customers who are more costly than they are worth, or plan to raise prices to improve revenue and profitability immediately. Write down the date when this will take place next to the name of the customer.

Review your financials, taking time to focus on expenses. Is the expense necessary or is it simply “nice to have.” Eliminate the nice to have as those costs are likely hurting you. Where have you increased expenses in the last year? Why did those costs climb? Where can you comparison shop to decrease your costs going forward? Contact your remaining vendors (see day one) and determine what they can offer you to decrease your costs going forward.

Day Five-Calendar
One of the most effective tools ever devised is the twelve month calendar, so today you will create one. Start by listing all company holidays, significant marketing events including trade shows and sales meetings, staff meetings and deadlines for advertising. Once the format is established, and it is used on a consistent basis, it is easy to update and the NITMA (non one ever tells me anything) excuse can be eliminated. “If it is not on the calendar, it won’t take place” should be your mantra going forward.

Everything either works for you or against you. Take five days to make sure that everything is on your side, helping you to achieve the goals of your organization.

Invest Five Hours in your Business

Super Jobs For You gives information on how to get a job and how to hire good people. If you are looking for a Die Casting Job look at this website. This Die Casting Blog will give you more information you can use for manufacturing.

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Sharpen Your Blade for Business

The young man swaggered into the lumberjack camp, announcing with full bravado that he could cut down more trees than anyone. “In two hours I can cut down 10 trees!” he shouted. “Who wants to take me on?” The oldest man in the camp said he would be delighted to see who would win the bet.

The contest began at dawn. In no time the young man felled two trees, wood chips flying everywhere. The older man also began chopping, slow and steady, and after he finished his first tree he disappeared for a few minutes, walking out of sight of the young man who was still flailing away. After the second tree fell, the older man again walked away but soon returned, his third tree falling quickly thereafter.

The young man had also chopped down three trees, but each tree seemed to get harder to bring down. Although he was stronger than the older man, he was soon very tired, and each swing seemed less effective as the one before. He watched the older man disappear for a third time, wondering why he needed so many breaks. Perhaps, the younger man thought, he is old and needs to rest. He soon forgot about the older man and went back to his fourth tree, which seemed to take forever to topple.

In no time at all the two hours had passed but the results had long been visible to those watching the contest. The older man had chopped down nine trees, the younger man only five. Both had the same size axes, both had the same amount of time. The younger man had stronger muscles and appeared to be in better shape. Yet the older man had bested him.

As he turned to walk back to the camp, the older man heard the younger man ask “Between trees, what were you doing?” The older man looked back and smiled. He simply said “I was sharpening the blade of my axe.”

And so it should be with us, but more often than not, it isn’t. I hear sales people boast how great they are, yet they never take the time to speak to others in the profession to learn something new. I talk to business owners who are too busy to attend valuable workshops where they might learn something that could make their business improve. I witness young hard-charging managers scoff at the idea that there might actually be someone that they might learn something from.

There are many ways to sharpen the blades you need in your professional life, but before you can do it, you have to willing to make the commitment. In other words, walk the walk not just talk the talk. The boss can mandate that you read this book or attend that seminar, but if it truly going to be effective it needs to come from within.

Blade sharpening cannot be a one time thing. You can’t just attend one workshop and proclaim that you “know it all. ” It will be clearly evident to those around you that you don’t.

The professions understand blade sharpening. Physicians, nurses, dentists, teachers, and attorneys must continue their professional development and education or lose their certifications and licenses. Or, put another way, would you have a fifty year old doctor operate on your heart if the last time they attended class on the subject was in medical school when they were twenty five?

Yet, far too many in business think that they can ignore the realities of a changing world by believing that they already know enough to get by. Actually, many not only think they know enough to get by, they believe that they can be a roaring success without ever taking the time to sharpen their blades.

Anyone who wants to be a success needs to discover the best way to sharpen the blades of their own axes. Some chose the quiet of the library to read a book; some prefer to listen to an audiotape or CD as they drive; still others believe in attending a class, a lecture or a workshop at a college or trade show or participate in a formal peer group meeting.

Leonardo da Vinci wrote “Every now and then go away, have a little relaxation, for when you come back to your work, your judgment will be surer; since to remain constantly at work will cause you to lose power of judgment.”

How do you sharpen your blades? Decide what works best for you and make the commitment to keep your blades sharp.

Super Job For You gives information on how to get a job and how to hire good people. If you are looking for Cast Parts Jobs look at this website. This Castings Blog will give you more information you can use for manufacturing.

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