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A-Z of Business: T – Time – Achieving More in Less

Time ManagementHow do you relate to time?  Do you just see the future ahead of you, cluttered with actions and goals which threaten to suffocate you?  Are you in the present moment, having fun but not getting much done?  Are you stuck in the past with no idea how to develop the insight, motivation or courage to move forward?  Or are you able to see time as a continuum with the past, present and future laid out in front of you?

If it is the latter, it means you are more able to learn from life experiences, get things done in the present and plan for the future.

“Not all hours and minutes are the same length” as Roger Black says.  It can speed by when you are enjoying yourself, or slow down when you’re not.  While we all have the same 1440 minutes every day but how is it that some people get more done than others?

It is all down to your relationship with time, how clear you are about your priorities and how everything fits in together.  It is important to prioritise those things which move you towards your goals in an economical manner.  This combines both effectiveness and efficiency so that your productivity improves.

A productive person is calm, focused, disciplined, flexible, balanced, has perspective and, generally, does what they say they will do.  This increases your reputation with yourself and so your self-esteem enjoys a good boost too.

There are four main time enablers:

  1. Perspective:      Purpose, goals, priorities and values
  2. Self:                   Self insight, self-motivation and self-management
  3. Others:              Understanding and managing others
  4. Balance:            A balance between downtime and uptime

When you have a clear perspective, with an ability to understand and manage yourself (and those others on whom you depend to get things done – or to whom you should be delegating) and balance this with self-care, you are in a much better position to improve your time management.  You will also feel more resourceful, your productivity enemies slain.

Here are my top tips:

  1. Focus on just two important items each day – this frees up your mind-clutter and gives you a sense of achievement
  2. Fill in the spaces with smaller jobs
  3. Have a power-hour once a week where you do all those little things you don’t have time for but which make you feel really good when they are done.
  4. Whatever you are doing, apply your 100% attention to as you can only do one thing at once, contrary to popular belief.  In addition, the stop start involved in not doing this can increase the time needed for each task by as much as 5 times!
  5. Limit distractions – be ruthless but respectful about it
  6. Delegate well
  7. Manage your information overload – be super-ruthless on this one
  8. Procrastinate discriminately – some things should be procrastinated but a lot of people procrastinate the important in favour of the trivial
  9. Make your to do list a reality list and keep your fantasy (wish) list separate.  Work your list with passion and fervour
  10. Keep your workspace free from clutter to give yourself mindspace to think clearly and get things done

Getting things done should be a joy, not a chore, giving you a sense of empowerment, achievement and progress.  By following these simple steps (which I cover in detail as part of my Achieving More in Less Time workshop), you will find that your productivity soars.

If you could use some help overcoming your time-management demons, why not book a session?  Call me on 0845 130 0854.

© Tricia Woolfrey 2013

About Tricia Woolfrey – click HERE to find out about the author.

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Goals, Motivation, Performance, Productivity, Time Management
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A-Z of Business: EQ – The Difference Which Makes the Difference

EQIn this A-Z of Business series, we have reached the letter Q.  Now, I could have talked about quotas, quoting or questions if I was being a purist.  But, if I look at the balance of what’s been written and what’s missing, I think that EQ (Emotional Intelligence) is far more important.  Anything which omits this key area of business success is lacking.  So I decided to break my own rule and hope that’s OK with you?

In case you haven’t come across this before you may be wondering why it’s called EQ when it refers to Emotional Intelligence (EI)?  The Q refers to “quotient” which is the amount of a specific quality or characteristic, in this case, emotional intelligence.  But, what does it mean?  It is the capacity for self-insight, for understanding and managing your emotions and having empathy for others’.  In this way you can better manage your relationships and your stress levels.

It is such an important skill that it is thought to be more important than IQ in helping to get you promoted, in creating sales and in building collaborative effort.  Research suggests that it accounts for around 90% of managerial success as opposed to IQ which only accounts for 20%.  Not that IQ is not important.  Of course, it is.  But you need both.  The ability to put your knowledge, your expertise, your skills into effect in the most  constructive way possible is said to be the difference which creates the successful business person whether you work for yourself of for an organisation.

So, ask yourself:

  • How well do you respond to setbacks?
  • How well do you understand people’s different motivations and behaviours?
  • Do you have a balanced view of your own strengths and weaknesses?
  • To what extent are you able to control your responses in situations which challenge you?
  • Are you good at building collaborative relationships?
  • Could you be described as someone who is level-headed, positive and flexible?
  • Do you inspire trust?
  • Do you manage conflict well (rather than avoid it)?
  • Are you self-motivated?
  • How good are you at bouncing back when things go wrong?

You can learn more HERE on our website.

Emotional intelligence is one of those concepts where you need a lot of it to know you have it.  So if your EQ isn’t as high as you think it is, it will almost certainly be inhibiting your progress.  To be sure what your level of EQ is, why not book an assessment?  It’s well worth it and can put you on track for success like nothing else.  Call me on 0845 130 0854.

© Tricia Woolfrey 2013

About Tricia Woolfrey – click HERE to find out about the author.

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Business, Emotional Intelligence, Performance, Success
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A-Z of Business: J – Judgement: The Key to Effective Decision Making

Judgement is your ability to assess a situation and to draw sound conclusions.  This is a key factor in your decision making process.  How do you judge whether something is right for your business or not?  And how do other people judge you and your business?  When you understand this, it can really help you:

a) make decisions which serve your business well
b) help you to help other people make judgements in your favour

There are various ways in which we may be convinced of something-

  • Number of examples – ie the third time you see something, you are sure it’s right
  • Automatically –  you don’t take too much convincing, you just automatically trust that something is right
  • Period of time – you need to think about something for a while before deciding, even if it is an obvious solution
  • A trusted source – if you hear it from someone you trust, or know they are doing the same thing, that’s enough to convince you
  • Logic – you need to evaluate the facts before deciding if something is right for you
  • Emotion – you tend to trust your gut
  • Impact on the bottom line – you will not be convinced of anything unless you see how it will affect the bottom line
  • Tried and tested – you need to see something working somewhere else before you think about it for yourself
  • Cynics – you are never truly convinced of anything

None are right or wrong in themselves.  However, it’s possible to rely too much on a particular method which could leave you vulnerable.  For example, going on gut instinct without checking the effect something has on your bottom line could affect the profitability of your business; relying on a period of time may mean that an opportunity is lost; being automatically convinced can be dangerous as there is no evaluation of the possible impact something may have; cynics can fail to take opportunities because they always find fault; depending on tried and tested methods can mean you are behind the curve in terms of your competition; relying on logic alone can mean that you are ignoring the not inconsiderable power of your intuition; depending on a trusted source requires that the trusted source be right 100% of the time or that their circumstances are the same as yours.

Ask yourself, what other factors do you need to consider when you are formulating your decisions?  Do re-read the decision making part of this series.

Finally, what to do with this information when considering your customers and prospects?  You will be well-advised to consider an example of all the above criteria in relation to your products and factor in where appropriate.  For example, Jack has a strong gut instinct but likes to back it up with number of examples, so you might want to either find three ways of proving your product, or expect to make your case over three appointments, and follow that up with “What does your gut tell you about the suitability of our product for your business?”

Or, Sally may make her decision solely on the bottom line.  So you may want to take the approach of showing the cost savings your product will give her, or the revenue potential, or perhaps some other way of impacting the bottom line.

If you aren’t sure about what someone else’s convincer strategy is, ask them how they decided to buy their latest car, computer system or even holiday.  This should give you a lot of clues.

Even the most successful business people have made bad judgements in their time. However, you can minimise yours by considering all of your options to make a more informed decision.

If you would like to discuss you own business decision making strategy, or change the way others judge your business, please contact us on 0845 130 0854.

© Tricia Woolfrey 2012

About Tricia Woolfrey – click HERE to find out about the author.

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Business Coach, Decision Making, Performance, Problem Solving, Success
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A-Z of Business: H – Health – How Can Your Business Be Healthy If You’re Not?

To succeed in business you need to be firing on all cylinders.  In fact, you could say that the health of your business is a reflection of your own health.  If you are tired all the time, or run down with frequent bouts of colds and flu, suffer frequent headaches or if you are at the mercy of IBS, can you really be functioning at your best?

Health is more than just an absence of symptoms.  When you are healthy in every sense of the word (physically and emotionally), you will have more stamina and energy to deal with the stressors of business life; mentally you will have clarity of thought and direction, the ability to solve problems quickly and your memory will be more reliable; you will feel more motivated and less irritable; health will also mean that your immune system is strong to safeguard you from colds and flu as well as more serious illnesses.

If you’re feeling tired-all-the-time, or low motivation, it could well be as a result of your body needing to be stronger and healthier.

Your health can be affected by many factors including:

  • Food choices
  • Depleted nutrition in foods
  • Cellular health
  • Alcohol
  • Sugar
  • Cigarettes
  • Stress
  • Negative emotions
  • Environment
  • Lack of exercise

Taking care of yourself is taking care of business. We take great care of our cars:  fill them with petrol, make sure there is enough oil and water, take them for a regular MOT, but are you doing this for yourself?  For a health MOT, call 0845 130 0854.

© Tricia Woolfrey 2012

About Tricia Woolfrey – click HERE to find out about the author.

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Health, Performance, Success, Wellness
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A-Z of Business: G – Goals: Your Targets for Success and a Solution to Overwhelm

One of the things which hinders your ability to achieve results, to maximise performance and to increase productivity, is a lack of clarity around goals.  Goals help you establish priorities and are the foundation for actions which lead to success.  But they aren’t enough on their own. In this article, I will share with you how to set goals which move you forward, and what else you need to do to make it all happen.

A well-known acronym – SMART – helps to make your goals more tangible.  Without this, it is simply a to-do item in a sea of competing items in your cluttered mind.  When you set well-defined goals, your unconscious mind is more able to organise itself into acting on them – you will have increased control, decreased stress and greater focus.  If you have seen it before it will serve as a useful reminder.

 

Goals should be SMART:

Specific – vague goals produce vague results
Measurable – how will you know you have achieved it?
Achievable – not based on hope but reality with a contingency built in to deal with the unexpected
Relevant – how applicable is it to your business, your life, now and in the long term?
Timebound – what time scale do you want to achieve it within?

A poorly defined goal would be “Launch product”.  A better goal would be “To create and execute a project plan for the January 5th product launch of Profit Serum to existing customers, our prospect database and industry media.”

Goal Considerations
  1. It should be stated in the positive (what you want, not what you don’t want)
  2. Identify the resources needed to achieve the goal – human, financial,  physical, etc
  3. Consider whether you can genuinely start the goal and maintain it
  4. Look at the wider consequences of the goal
    • Time and effort required
    • Do you have buy-in from stakeholders?
    • Whether anyone else is affected and how to deal with it if they are
    • Does this goal impact the achievement of other goals?  Which is more important?  What can be done to achieve both?
    • What you will have to give up in order to achieve it?
    • Are you willing to give this up in the pursuit of the goal?
  5. Is the goal is in keeping with your values?  If not, can it be changed so that it does?  If not, why do you need/want it?

Making It Happen

Finally, a goal, in itself, is nothing without a plan of action. List the steps to achieving your goal and have a system to monitor your progress and to keep you on track or adjust your course as necessary.  Last, but by no means least, factor in a celebration when you have achieved it!

© Tricia Woolfrey 2012

About Tricia Woolfrey – click HERE to find out about the author.

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Goals, Performance, Profit, Success
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A-Z of Business: E – Employees: The Ten Fundamentals for Motivated and Productive Staff

Employees can make or break your business.  Finding the right ones, putting them in the right roles and keeping them motivated can feel like a full time job in itself.  Making poor hiring decisions and mismanaging your employees is alarmingly expensive, and can influence the morale of the rest of your team, as well as having a detrimental impact on your business and your time.  Here are my ten fundamentals to get you started:

  1. When hiring, be clear about the skills, knowledge, attitudes and motivations you want from the individual.  If they don’t have the right attitude, no matter how skilful a leader you are, keeping them focussed, productive and positive will be a drain on your energy, your team and your business.
  2. Being clear about what motivates an individual helps you match them to your vacancy.  An extrovert will not thrive in an isolated role; a big thinker will make expensive errors in a job requiring lots of detail work.  Their motivation will drop quicker than you can say “job satisfaction”.
  3. An effective interview process ensures that you treat every applicant equally, you leave no stone unturned and that you are making a balanced business decision, rather than reacting to their charm at interview.  Charm over substance is never a good hiring strategy.  In addition, many hiring decisions are based on urgent need – consequences are not considered until they are experienced in glorious and painful high definition.
  4. Make sure you involve the right people in your interview process.  Having input and feedback from people who will be working with the new recruit is invaluable – not just to have a second opinion, but also to make sure they buy into the hiring decision.
  5. A comprehensive induction process will make sure your new hire gets up to speed and feels part of the company as quickly as possible.  Things to consider are:  computer, phone and desk (yes, some people forget to plan these for new recruits!); meeting work colleagues, other departments, learning about the company, it’s products, values, processes and procedures, what to do and where to go if there are any problems.
  6. Make sure your new recruit is pre-announced to the rest of the team so they are expecting them and can extend a warm welcome.  I have seen new-hires feel shunned because their team-members were not expecting them and didn’t understand the reason for them joining.
  7. Have regular 1:1s to discuss progress, plans and projects.  It is also a good time to discuss any concerns they have and, do please make sure you take action promised – it can be very demoralising otherwise.  1:1s, well run, are hugely motivational and can be a great way of increasing confidence, productivity and motivation.
  8. Delegate well.  To do this, you need to understand the skillset and motivation levels of each individual member of your team.  Some people need a lot of support and direction, others will require more autonomy.  Delegation is not about abdication, nor does it involve micro-management.  It’s about giving them what they need to perform well.  This is a complex and important area that could benefit from a several blogs in its own right.
  9. Know when to take remedial action.  A disciplinary – formal or otherwise – is about improvement.  Inaction can make a bad problem worse as the employee believes that poor performance is acceptable.  Worse, fellow-employees may also see that this is the new standard they can relax into.  Worse still, if you decide to dismiss someone after a period of inaction, it may be difficult to prove your case in a tribunal.  Dealing with problems as they arise is essential.
  10. Develop your individuals.  You need to develop them in the right way, in the right things.  You can develop them through training, coaching, increased responsibility, new projects, and secondments.

Hiring and managing employees is highly rewarding when done well.  It is, however, a minefield.  If you are even slightly concerned, or are not getting the results you want, do seek support.  With the right structures and skills in place, you can experience the rewards on several levels:  a better relationship with your staff, an empowered and motivated workforce, happier customers, greater profit and a reputation as being an employer of choice.

To your success.

Tricia Woolfrey

PS For help with hiring the right people and effective people management and development call 0845 130 0854.  This is not something you want to leave to chance.

© Tricia Woolfrey 2012

About Tricia Woolfrey – click HERE to find out about the author.

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Employees, Motivation, Performance, Personal Development, Recruitment, Success
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A-Z of Business: D – Decision Making

Of all the things you have to do in business, making effective decisions is probably the most important.  Decisions can vary from a simple yes” or “no”, or between a variety of options or even to determine what the options are.  The subject of the decision can also be varied from hiring and firing, appointing the right supplier, deciding whether to increase your product portfolio or consolidate, expand or downsize, borrow or cut costs.  Each of these decisions can have long term consequences so it’s prudent to make sure your decision-making is pretty robust.  Delay can be as destructive as the bad decision.

Here are my top ten tips to effective decision-making:

  1. Clarify the problem you want to resolve – different people may have a different perspective on what the problem is.
  2. Include relevant stakeholders in the decision-making process – if the right people are not involved, they can adversely impact the implementation of your decision.
  3. Brainstorm all the options – don’t judge them yet, just put all the options down on paper.  Essentially this is about becoming aware of what you could do before you decide what you should do.  If you go into the shoulds too early, you cut yourself off from creativity.
  4. Determine what will let you know the decision was a good one.
  5. Make a list of the pros and cons of each option and for each stakeholder including:
    • Costs involved, especially whether the solution outweighs the problem it is intended to resolve
    • Effect on profit
    • Effect on customer relations
    • Impact on employees and workflow
    • Ability to support the decision in terms of skills, time and resources (a lot of good decisions don’t work out because of the lack of infrastructure to make them happen).
  6. Ask yourself whether it is line with your personal and business values – if it is not, it is bound to lead you into hot water at some point.
  7. If you are not at peace with the decision ask yourself what the concern is.  Is there a way of addressing this concern whilst going forward with the decision?
  8. Make sure the solution is treating the cause of the problem rather than the results.
  9. Consider any negative outcomes which may result from your decision and minimise those as much as possible – even the best decisions can have negative consequences – sometimes the best decision is not the most popular so it’s important to think of the short-term and long-term implications and how you can mediate those.
  10. Last, but by no means least, develop an implementation plan – no point in going through all of this if it isn’t going to bear fruit.

Finally, problems to avoid:

  • Analysis paralysis – you can spend too much time gathering data to make your decision – get the balance right.  Often the information being collected is to provide comfort rather than to influence your decision either way. Gather only what you need.
  • Procrastination – the enemy of success and the refuge for those who fear failure.  Procrastination can cause missed deadlines, missed opportunities, wasted resources, delayed projects, and frustrated customers, vendors, employees and co-workers .  It can often cause a loss of respect.  The worst thing is not to do anything.  Much better to anticipate problems and plan for them.
  • Impulsivity.  This is often the curse of the enthusiast.  They often rely on their “gut” but the decisions are not backed up by critical thinking around consequences and implementation issues.  Make calculated decisions and then your gut will tell you if it’s right or not.   A “niggle” can tell you that there is something you’ve overlooked.
  • Ignoring different viewpoints.  Sometimes the best ideas come from the most unexpected places and if you are filtering information through your ego, you are closed off to this.  At the same time, you don’t want to pander to people’s ideas if they don’t work.  It’s important simply to be open and receptive. Sometimes someone else’s idea might not be right in itself but is the seed for something which is.

I can’t resist one more tip:  ask yourself whether it will feel like the right decision a year from now.  This often flushes out any unconscious concerns or validates a difficult decision.

To your success,

Tricia Woolfrey
© Tricia Woolfrey 2012
 About Tricia Woolfrey – click HERE to find out about the author.
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Decision Making, Performance, Problem Solving, Success
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A-Z of Business: C – Customer

Customers are the lifeblood of any business.  It doesn’t matter how good your product or service, if you don’t have customers willing to buy, you have nothing.  In such challenging times, and considering the cost of attracting just one customer (have you ever done the maths on this?), customer retention is a stronger strategy than customer attraction could ever be.

Yet, it seems that customer care has taken a back seat to profit.  A short-term tactic with long-term consequences.  And yet, effective customer care does not have to be costly.  Not only that, you can expect to see your profits increase as your customers stay longer, buy more and refer more.  And the benefits don’t end there – your employees will be happier.  I am always struck by the check out staff at supermarkets who don’t acknowledge you – how unhappy they look.  I pay extra where the staff are happier – it makes such a difference to the buying experience.

Below are my top ten tips for customer retention.

All customers:

  1. Acknowledge them by name if known, and a warm smile – a genuine smile even comes across over the phone.
  2. Tell them you’ll be with them in a moment if you are busy with someone else.  If it will be more than a moment – let them know in advance.  Set realistic expectations.
  3. Ask yourself how your processes and actions serve customer needs and affects their experience .
  4. Make sure your staff are knowledgeable and find answers to questions if in doubt.  Saying “I don’t know” is just not acceptable.
  5. Under-promise and over-deliver – essential for trust.  Do keep them updated if delays are foreseen.
  6. Hire and train staff who have a strong customer service orientation – be uncompromising about this.  Any apathy or negativity affects profit and morale of other staff members.
  7. Treat your customers how you want to be treated yourself.  You know how it feels when you are respected and when you are treated well.  I am reminded of a friend of mine who recently reported that she closed her bank account as her bank was offering new customers a better interest rate, despite the fact she had been a loyal customer for years.

The biggest risk factor in terms of customers is how you deal with them when there’s a problem.  Here are my top tips to deal with unhappy customers:

  1. Respond positively and empathetically:
    • Thank them – their feedback is a gift and helps you improve your business.
    • Be quick to apologise authentically.
  2. Inform them of what you will do with their feedback – and then make sure you do what you say you will do– it will help build your business in all kinds of positive ways.
  3. Resolve problems quickly and thoroughly.  Be sure to give a little extra to make up for the inconvenience.

Responding well to complaints can not only redeem you in the eyes of the customers but make a complainant into an ambassador for your company, bringing in new business.

Finally, one last thought – do make it easy for people to do business with you – don’t let apathy be your only weapon for customer retention.  Delight them and make raving fans.

To your success!

Tricia Woolfrey

PS  Customer attraction and retention are a very complex area – to book a consultation to find out how you can gain more business through customers new and existing, call 0845 130 0854.

© Tricia Woolfrey 2012

About Tricia Woolfrey

Tricia Woolfrey is a business, performance and productivity coach, helping people to succeed in their business, and for their business to succeed. She has extensive experience with clients across several business sectors, including IT, telecoms, event management, entertainment, recruitment, finance, PR, coaching and therapy, support services, legal and more, ranging from large corporates to start-ups and the solo-preneurs.

Prior to running her own consultancy, she was Group HR Director for a multi-national organisation and is a member of the Chartered Institute for Professional Development. Her integrative approach to change has had profound results for individuals and organisations alike.

“The results there were nothing short of fantastic”- Guy Apple, VP Marketing & Sales, NVT, UK

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Customer, Customer Service, Performance, Success
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A-Z of Business: A – Appraisals

 

Now, you may be thinking of appraisals as something you do to your staff to tell them where they are going wrong and put them on the right track.  But it is more than that and it is more than just about your staff.  Done well, it is motivational and inspiring.

Appraisals are something you can do for yourself, your business as well as your staff.  It is a way of looking at:

 

  • What’s going well so you can do more of it
  • What could be improved so you are continuously evolving
  • Progress against goals so you can get back on track if you need to
  • Adjust your goals so that they are relevant to changing conditions such as market, environment, competition, etc
  • Plan for the future

It can help you really stay on top of your game if you are conducting regular appraisals of yourself, your business and your individual staff members.  You first of all need a list of competencies and measures of success to appraise.

If you want to know more about how to do these well, why not book a session so you give your business the best chance of ongoing success?  Call me on 0845 130 0854 to find out more.

To your success!

Tricia Woolfrey

PS  Have you recently had a psychometric profile?  This can really help you to understand your strengths and blindspots so you can work at your very best.  Call me on 0845 130 0854 to find out more.

© Tricia Woolfrey 2012

About Tricia Woolfrey

Tricia Woolfrey is a business, performance and productivity coach, helping people to succeed in their business, and for their business to succeed. She has extensive experience with clients across several business sectors, including IT, telecoms, event management, entertainment, recruitment, finance, PR, coaching and therapy, support services, legal and more, ranging from large corporates to start-ups and the solo-preneurs.

Prior to running her own consultancy, she was Group HR Director for a multi-national organisation and is a member of the Chartered Institute for Professional Development. Her integrative approach to change has had profound results for individuals and organisations alike.

“The results there were nothing short of fantastic”- Guy Apple, VP Marketing & Sales, NVT, UK

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Appraisals, Goals, Performance, Success
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