Why didn’t I take it slow the second time? Alex, my 13 year-old, just received his boating license this summer. Over the 4th of July holiday he was with his buddy on our 18-foot runabout when the propeller hit a rock. Luckily he was going very slow so there was no damage done to the propeller and the engine. Alex warned me of the spot and pointed it out.
Later, and pulling a water-skier, I headed right into that rock at 35 mph. Guess what? Damage! And lots of it! $1,600 later I had my beautiful boat back. Fast forward to our trip up north this last Labor Day weekend…we decided to navigate the Wisconsin River. This water we have never navigated. Alex wanted to go skiing and so I pulled him on a stretch of water that was calm and had no traffic.
I learned why that was…BAM! Up went my motor again. I immediately stopped the boat and looked back. There was a large tree trunk that floated to the surface, tumbled a bit, and sank. Whew, luckily there was no damage! Apparently soggy, floating wood is more forgiving than rocks. How could I make that same mistake twice?
We do this in business as well. The water looks safe so we dive in and get to it. Then, BAM, we hit a rock, that unforeseen but predictable hazard that, in hindsight, could have been avoided had we done a little research and navigated more slowly.
I do believe there are times when you need to jump in, do it, and then fix it. However, there are times when slowing down and taking your time is a good thing. Stop banging your engine (and your resources) around. Be wise: navigate and chart your destiny!
I’m a true believer in efficiencies. I’ve seen comparable businesses operate with similar success but one made much more profit than the other. The only difference was efficiency. I don’t want you to confuse shortcuts with efficiency. They are two totally different things. We often look at shortcuts as “cheapening†a product. The shortcut is usually followed by, “the customer won’t notice the difference anyway.â€
How many of you have stubborn drivers in the family? I know I can be one sometimes. “Forget the map, I know a shortcut.†Meanwhile I’ve just sent my family on a wild goose chase through backcountry trying to guess at a shorter path. And, yes, sometimes (ok, most of the time) the shortcut leads me to a road that went out of my way or delayed our arrival.
Impatience is the contributor to shortcuts. Entrepreneurs are so driven and passionate about what they do that sometimes we fall into the trap of thinking that things aren’t moving fast enough. So we pull out our duct tape and patching tools and try to get our ideas to stick before they’re ready. You know, a good plan with a good strategy works like Elmer’s glue.
Remember in school? Using this white goopy glue would get frustrating. If you opted for taking your project home the art fell apart. However, those that left it to dry on the heat vents overnight returned to school the next day with a solid masterpiece!
Allow your ideas to take form. Allow your plan to be worked in a consistent venue. As you introduce your ideas to others you’re adding more pieces to the artwork. You’re feeding your prospects glue – meaning they’re interested but not fully committed. By being patient and staying consistent your prospects begin to see your benefits and slowly dry into your framework. Be patient. Keep using the glue, but give it a chance to dry!
I’m sure most of you have heard of Fortune magazine’s annual list of “100 Best Companies to Work For”. But did you know that many of the top companies included in this list share one common thread? Servant Leadership!
For those of who you don’t know, Prophit Marketing is also a Servant Leadership company, as influenced by grocery client Festival Foods which has been successfully practicing it for years.
As rated by employees, the top companies in Fortune magazine’s list are shown to simultaneously deliver outstanding service and financial returns while being a great place to work. These companies also have the following in common:
1) 50% lower turnover than industry standards
2) Make an effort to create a supportive and inclusive company culture
3) Take more steps to engage employees
4) Greater concern for employees’ quality of life
5) Contribute to the community by participating in charitable programs
6) High employee satisfaction as a result of staff support services and policies
7) High customer satisfaction as a result of satisfied employees Great profit and growth as a result of customer satisfaction
The bottom line: satisfied, loyal, and productive employees create value for the customer and, in turn, higher profits. Sounds like a win-win to me!
Joe Kiedinger
ACTION PLAN: Read more on the subject in Focus on Leadership: Servant Leadership for the 21st Century with essays by Warren Bennis, Stephen Covey, Margaret Wheatley, and John Bogle.
I know I’ve been talking about my 13 year-old, Alex, lately but for any of you who are raising a teenager, it’s a whole new challenge. Magic happened over the six days of camping with Alex… he talked! No, really, he did!
Take away the cell phone, video games, and skateboard and what else is there to do but talk! We hiked three miles, drank from a pure cliff stream, and biked seven miles through the paved wilderness.
I’ve realized something through this. Even though our kids tell us “I don’t want to talk about it,†they really DO want to talk about it. I learned more during one bonfire with Alex than I learned in the entire month of June. It’s so important to create opportunities for our kids to spend one-on-one time with their parents–especially when they’re the oldest and are asked to take on adult responsibilities like babysitting and helping out with younger children.
I think even in business we need to get one-on-one with as many of our people as we can. With our own kids I suggest a scheduled time. Even if your kid hems and haws, he or she really does look forward to it and will eventually open up to you with the things they’re feeling about life. Remember, it’s not about saying to our kids, “Ok, tell me what’s going on.†It’s about creating an atmosphere for open communication and allowing it to happen naturally.
Ah, so much wisdom coming from the serenity of the campfire!
Joe Kiedinger
ACTION PLAN: Put that schedule together for one-on-ones!
Do you remember the old 80/20 Rule? In business it refers to 20% of your customers who provide 80% of your income. The same principle exists in life. Why is it that when I open up my closet doors I have five yards of clothes to choose from but I always wear the same articles? 80% of my clothes I never wear!
This morning I went to my cupboard full of mugs and sought out one of three that I prefer to drink from: My Branson Mug, World’s Greatest Dad Mug, and my Dog mug. Why just those three? I have 12 to choose from! The 80/20 Rule refers to vendors in your business too. We work with multiple vendors, but there are about 20% that we use on a continual basis.
These vendors we call Process Partners. Process Partners, I have found to be the speed of business. When a Process Partner is embraced by the company they do business with wonderful things begin to happen. They know the vision and direction and they know the part they play in helping you achieve your goals. They can then offer advice and take on more of a consulting role within their area of expertise.
Companies who understand how to recognize and appreciate these key vendors find they work harder, are fully engaged and make the company more money. The money you can save on payroll alone pays for these key partners. Some Process Partners we have are in the areas of payroll, public relations, accounting, banking, and production–just to name a few. Many carry our business card and represent themselves on Prophit Marketing’s behalf.
The power of the Process Partner…embrace them and grow!
Joe Kiedinger
ACTION PLAN: Establish your key vendors, bring them in, share your vision and ask their input. They will leave respected, appreciated and motivated.
Foreword: Free marketing Road Show tomorrow at 7:30 a.m. at the SC Grand in De Pere, WI. Reserve your space by emailing me at info@prophitmarketing.com… only a few spots remain!
I was introduced to Servant Leadership about ten years ago when I began working with Festival Foods. My Servant Leadership coach is James Hunter. I’ve heard him speak about a dozen times. The main crux of Servant Leadership: To lead you must first serve. You must serve and meet the legitimate needs of the people you lead.
It was simply based on the Golden Rule which states: Do unto others as you would wish them to do unto you. Well, there is an inherent flaw. I’ve written about this before, but it must be stated again. The Golden Rule doesn’t work!
The reason is this: we all come from such diverse backgrounds that there is no way to treat everyone the way you like to be treated…and have them all like it. Take me for instance, I find it a compliment to be pulled up on stage and asked to improvise a topic in front of many people. Would you like that? Additionally, I learn by doing, then fixing. There are others who are much better at pre-planning and then doing. What do you prefer?
So as you can see, we all enjoy different processes at achieving similar results. Neither is good or bad–it’s just the way we find success. For the past two years I have been determined to find some sort of personality test tool that I could use to help establish a person’s legitimate needs. I found dozens of them. However, when used with companies, I came across leaders who agreed that although they’re accurate, the information is usually filed away to collect dust and only used during corporate retreats or for hiring.
The other flaw I found with these tests is that many told the person what wasn’t so good about them. Nobody likes to read about his or her faults. Finally, the person is only involved; they are not committed to the end results. They fill out a bunch of questions and “voilaâ€, the profile appears. And although it’s accurate, it’s not meaningful.
After two years of testing and failing and then finally succeeding–I found a working tool that allows managers to communicate with a much higher degree of effectiveness. In testing, employees felt understood and respected every day. This program allows every manager to motivate and lead by showing them each person’s words they need to hear to achieve understanding and avoid frustration.
Only until you can identify a person’s legitimate needs can a leader take them to places that they themselves couldn’t have imagined going. Employees think… “It’s about me?… About time!â€
Joe Kiedinger
ACTION PLAN: See me tomorrow at the Road Show and get a sneak peak at this innovative new technology.
Note: Wisdom on Wednesday has gotten a face-lift! Please visit our new site at www.wisdomonwednesday.com. There, you’ll find tons of new features like: mp3s of Joe’s radio shows, Joe’s Twitter and LinkedIn profiles, sources of related reading, and more!
Remember the Wizard of Oz? Dorothy and the gang had to head into the enchanted forest. They were holding each other close, frightened about the unexpected. I think a lot of you feel the same way when it comes to social networking. It’s not worth fighting–you’re going to lose if you ignore the power of social networking. Scott Grall, our resident expert in this area illustrates this point beautifully below:
I remember, when I was young, my grandpa would stop by with a thermos of coffee and some doughnuts. He would end up talking to my mom for hours about the gossip of the town. They would even talk about how they were treated at the local grocery store or my grandpa would talk coffee shop. Eventually, after a week or two, that word would spread throughout the family, then eventually to friends.
Times have changed, that’s for sure. Now, when I have a positive experience, negative experience or any type of experience at all, I immediately go to Twitter on my Blackberry and Tweet about my experience. Instantly, word about a particular business or subject reached thousands of people, just from a few comments I posted.
In today’s business climate, it is imperative you know what your customers are saying about your business – good or bad. It is equally important in how your business reacts and interacts with customers in the social network universe.
This is why we now have an On-Line Marketing Department, where we create websites, develop on-line marketing strategies, create and monitor social network platforms and help train media groups to utilize and monetize websites.
It’s a big, fast-moving social networking world out there, and if you need help or simply answers to your questions, e-mail me. So bottom line, the world is changing at a rapid pace and the corner coffee shop has grown to a global one!
Scott Grall
ACTION PLAN: Start simple with just setting up a Facebook or Twitter account. Pick one or two platforms and experiment a bit!
When it comes right down to it do you see customer complaints as an opportunity or a hassle? Most people see them as a hassle. Those who see them as an opportunity really “wow†their customers. I’ve heard that Four Seasons Hotels, one of the finest in customer service, will put the beverage preferences of each customer in their database.
For example, if you were to book a room as a first time customer they will ask you what you would like to have waiting on ice in your room when you arrive. You say, “Diet Coke.†Diet Coke will forever be in their database for future visits. If you show up a year later at any one of their locations, voila, Diet Coke is waiting.
I’ve been told that if you’re a frequent traveler, they will place the wrong product in your room on purpose and then, five minutes after you arrive, will knock on your door holding the proper product with an apology. “Hello Mr. Kiedinger, I apologize we accidentally put Diet Pepsi and not Diet Coke in your room. Enjoy your stay.â€
How about when a customer complains? Do you have systems in place to win the customer over for life? It’s only through a sharing of concerns can you uncover what your customers truly want. Sometimes you can’t deliver what they want and that’s ok too, but at least open conversation can begin.
Finally, I would like to talk about passive complaints, the ones you never hear about, but you discover and react upon. I would like to give a local example. My wife discovered a new shoe company called Okobos. She, through their website, inquired about shoes back in September. She never heard a response back until April when she received a message from a very apologetic owner who explained that her email was accidentally overlooked. She then asked Danica her shoe size because she wanted to give her a pair of Okobos. One week later two pairs arrived in her size.
Wow! Danica loved the sandals she received and Okobos won a raving fan. This experience was also launched out across 7 countries and 50 states through Wisdom On Wednesday! See, it pays to be proactive when you make a mistake!
Joe
Action Plan:Â Develop systems of handling customer complaints. The first step is to gather the facts and act quickly! Now go do it!
You never know where opportunities may come from. One of mine recently came from a local convenience store. Many of you know that my book, The Brander-In-Chief, was released this past November. I had a big media launch in an old downtown theater. It was very exciting. One of the attendees had a small chain of gas station convenience stores and he offered to sell my book in his stores.
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Hey, it’s my first book, you got to start somewhere (by the way you can now order at amazon.com)! So we created a display stand and placed my books in four of his stores. For a month nothing moved. We decided to re-brand the display stand with, “LOCAL AUTHOR!†all over it. The books started moving at a modest rate.
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A CEO, from a successful company, received the book from his in-laws who purchased the book (I later discovered) at one of these stores. This successful CEO asked his associates if anyone knew this Joe Kiedinger guy? One of his associates actually went to college with me and knew me quite well. The CEO wanted to meet with me because he liked the message of the book and the Brander-In-Chief philosophies and system held within.
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I learned that one of his companies does leadership training in Hong Kong. Last night I had a Skype conversation with his office in China. After two hours I was informed that the Brander-In-Chief message would be quite well-received in Hong Kong and was asked if I would consider a two-week trip to Hong Kong to give speeches and run coaching sessions with their people. My, oh, my! I guess Disney had it right. It really is “a small world afterall.†This opportunity happened because one business owner allowed me to sell my books in his convenience stores.
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This one powerful example illustrates how important it is to present your uniqueness to everyone you meet including people you may think can do nothing for your business: teachers, college students, vendors, even family members. You never realize the impact a meaningful conversation about your vision and unique selling proposition can have until you share those ideas with others. Sometimes these conversations can lead to opportunities years down the road, but it always pays dividends at some point.
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As Brander-In-Chief of your life and the business you serve, you are an ambassador. You should always be talking to people and networking. You are a unique individual who brings value to others. Tell them how and show them if possible. Don’t underestimate anyone. Tell your story and live with passion!
I was talking to a business colleague who purchased a property in Florida with the idea of flipping it in a year. Unfortunately, this property was purchased right before the real estate collapse and was also a first-time venture in this type of money-making strategy for my colleague.
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I said to him, “Well, you made an investment and unfortunately it went sour.†His response was, “I didn’t make an investment, I made a speculation. An investment is something you are comfortable with, in your interest and knowledge-base, that makes money, and you invest in it for long-term gain. I made a speculation.â€
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That simple conversation opened my eyes to my own company. What future ideas are we going to implement? Will they be investments or speculations? I feel it’s important to have the right balance of both.
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Our publishing company, 9th Street Publishing, was an investment. I studied the profits of publishing and I had my book, The Brander-In-Chief, to release. The About Me Program, on the other hand, is more of a speculation because it’s cutting-edge in helping managers understand and motivate their employees; I couldn’t find anything to compare it to.
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It’s important to be cutting-edge in today’s business world. In order to do so you will need to invest in speculation–assuming there’s a need and many people are saying, “YES!†When it comes to innovation we tend to be protective thinkers: “Someone will steal my idea and take the money away from me!â€
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I don’t think that way. I say share it with the right people–the people who would be most likely to buy my idea (including strangers who won’t tell you what you want to hear). Allow them to sample the product or service, rather than just hearing an explanation. The goal is to create an awareness that takes off– where strangers are calling you asking for your product! We call these strangers new customers who later become new friends and, eventually, raving fans!
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I hope this bit of wisdom has you looking at current and future opportunities in a new light. Is it an investment or a speculation? I say have a healthy mix of both.
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Joe Kiedinger
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ACTION PLAN: Make a list of all the things you’re involved in or are thinking of being involved in and determine your mix of investments and speculations.
Great profit and growth as a result of customer satisfaction
