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Business Transformation

In recent weeks we have strongly focused our messaging around “business transformation”. In particular, the need to address the client experience that is being provided in order to transform. So often, leaders regularly talk about getting the right people on board, developing the team and the leadership, having the right product, focusing the business plan, improving execution etc. These are all important dimensions; however, they are not all of it.

The key to business transformation is increasing the level of engagement of both your clients and employees. This is regardless of what business you are in or the nature of the service being provided. In 2009, there was some very compelling Gallup Research supporting this approach. This is illustrated by the graph below and the following key points:

(Click Graph to Expand)

When we interview businesses, so many readily admit they know less than 20% about their client. What would happen if they knew more than 50% about their clients? So, from an implementation perspective we believe it is key to know more about your clients. Then deliver a client centered experience by aligning your products and services to the client and then having employees who are client focused. This transformation in the alignment of your clients, employees and products can be achieved through predictive DNA behavioral insights. This is the fundamental purpose of our DNA Behavior Marketing system and Business DNA programs.

The Big Question

Last week I participated in a learning program for fast growth businesses conducted by Verne Harnish (founder of Gazelles, Inc) who is world renowned as “The Growth Guy”. Verne has run training workshops for and coached many great entrepreneurs all over the world. He has a very straightforward approach to helping an entrepreneur stay focused.

After listening to Verne for a while, and I have been in his workshops before, it became very clear to me that the Big Question we need to ask ourselves is: What is your success impediment? That is, what is getting in the way of your success? I believe we can continuously ask ourselves this question in every area of our life, at whatever stage we are at. In many instances, it is “you”. So, the question becomes what are you going to do to get out of your own way? Are you self-aware of what is in the way? A lot of this is about your DNA. A lot of the time, we are not aware of what our natural blind spots are which are a core part of our behavior. Ultimately, people succeed or fail because of their behavior. Taking this further into a business or a family, the behaviors of the team or family member will also be important.

This is why coaching is very important. If you are an entrepreneur, Verne will certainly endorse that a coach is critical to your success in business. The same is true in life generally – a good life coach can really help your quality of life. If the coach starts by asking the big question every time then your feet will truly be held to the fire and the right focus will come.

Identifying the Human Behavior Risks in Your Business

Back in March of this year, I wrote a blog about managing the human risks in your business. This issue has not gone off the radar screen. Identifying the human behavior risks in your business is critical to success. Every person has natural “blind-spots” which, if they go unchecked, can lead to individual performance failures, team failures, leadership failures and ultimately significant business problems. Regardless of the size of your business, the behavior of your people will influence the result. The influence will be higher the more senior the person is in the business. Look at why some major companies have failed in recent years – it is not the poor economy or financial markets, rather they have exposed the fundamental issues, particularly the behavior of leaders.

Some of the blind-spots may not seem that bad – e.g. uncomfortable to confront a problem, lack of patience, emotional decision-maker, poor planner, too driven and so on. However, these problems easily compound themselves at the individual level, then escalate when combined with others blind-spots.

Do you know where the blind-spots in your business are?

We have recently launched the Business Risk Management Report from our Business DNA profile which specifically identifies these risks. Please click here for an example.

Money Influences Leadership

In recent weeks I have been doing some leadership development consulting and coaching. The goal of this work has been mainly to help the leaders to build their emotional intelligence and then generally their self awareness of what is driving the decisions they are making.

Typically, most leadership development work of this kind focuses on the person’s behaviors, experiences, the influences of the environments they are in and have come from, their skills and knowledge, and even their states of consciousness. All with the goal of helping the leader understand themselves better and becoming more empowered. Then there is also training on specific leadership methodologies and strategies. None of these factors are to be underestimated as being unimportant, because they all are.

However, there is one factor often missing from the discussion — and that is money. The reality is that the topic of money is missing from the coaching agenda full-stop. Why? Talking about money can be a very emotionally charged issue for both the leader and the consultant/coach. Many people are, when it gets down to it, mystified by money and the power of its impact.

The reality is, money is directly or indirectly wrapped up in some way with every decision that a person makes, and is therefore a very powerful influence. Leadership decisions are no different. You only have to look at some of the decisions made by leaders in the last 10 years and see the devastating outcomes resulting in spectacular corporate collapses, insider trading, bankruptcy. Also, the great corporate performances can be attributed to a healthy money attitude.

Yes, money can be the carrot to incentivize performance, but it can also be the driver of warped decisions. Lets not say all of the bad decisions are deliberate because they are not. Some of them are caused by blind spots or put in another way, a simple lack of awareness.

Nevertheless, the point is that your perspective on money, whether conscious or not, influences your leadership – the decisions you make, the goals you set, action plans, how you manage yourself and others and so on.

So, reflect on how your leadership is influenced by money. Perhaps understanding your own relationship to money will improve the quality of your leadership, corporate results, and ultimately your life.