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Networking 2022: Trends and Tips

January 27, 2022 By Jan Triplett

If you weren’t able to attend this BSC Wisdom webinar, you missed a great discussion and work session led by Jan Triplett, Austin’s Mother of Networking and author of The Networker’s Guide to Success and co-author Thinking Big, Staying Small with input and examples from attendees.

Here’s what this webinar/work session was all about:
• What’s the difference between Networking, Mentoring, and Prospecting?
• Your three types of networks and how to improve them in 2022
• Making better quality choices of how, where and with whom to network
• New networking roles and responsibilities
• When and how to say “No” plus “red flag” warnings
• Why your networking efforts don’t pay off

Here’s a link to the recording and transcript. https://bit.ly/WisdomWebinar-Networking-1-20-22

Filed Under: Business Growth, Business Improvement, Business Process, Business Trends, Customer Relations, Mentoring, Networking, Planning & Vision, Sales Strategy, Social Media Tagged With: Prospecting

10 ways to give employees what they want

July 15, 2021 By Jan Triplett and Daniel Diener

Even the biggest “carrot” can’t necessarily motivate staff. You need to find out what will.  This picture is of the historical site of the Carrot Campaign, Port Hardy, British Colombia. Canada. It’s a symbol of government road building promises dangled in front of islanders since 1897 according to Wikipedia. (Photo by Diesel Demon http://www.flickr.com/photos/28096801@N05/3933107980/sizes/m/)

Do you know what motivates your employees?

Your employees should be grateful for their jobs, right? Satisfied? Motivated? But, they seem hesitant. It’s as if they’ve just put their heads down and are trying to bull their way through each day. How can you lead them if they aren’t motivated? You can’t.

What’s your Employee Leadership IQ? IQ as used here stands for Information Quotient. How’s yours when it comes to understanding and working with your staff? Leaders lead people; managers manage things. If you’re going to have a successful business, you have to lead successfully. To lead successfully, you want to hear and understand their priorities and motivators.

There are plenty of studies about understanding motivation. One of the most basic is the Ohio State University scholarly study (https://archives.joe.org/joe/1998june/rb3.php), a version of which I have used for years with everyone from police departments, to government employees, to small businesses. This 2020 blog from Smarp, the Top 15 employee motivation tips, has an excellent infographic that is worth studying. Jeff Miller’s 2017 article in Inc., 3 Important things you need to know about motivation, is more manager-focused than employee-focused but can be useful. The most useful research is to do your own. Keep reading for my recommendation.

However, it really comes down to really hearing what your employees have to say and responding to their needs and desires. One motivator doesn’t usually cover everyone because everyone is unique. There is one truth about motivated people, they motivate others. They motivate people to stay with you and new people to work for you.

Doubt this uniqueness? Want to measure your Leadership IQ? Here’s a simple and quick little experiment using the Employee Priority Motivator Tool™.

EMPLOYEE PRIORITY MOTIVATOR TOOL™

This list originally came from an informal class, Understanding and Working with People, offered at the The University of Texas at Austin but its origins go back even further to a study by James R. Lindner (https://archives.joe.org/joe/1998june/rb3.php). You may want to add to the list based on ideas from your employees, team leaders, or managers. I recommend you at least keep these 10.

Instructions.

  1. Using the tool above, rank each item from 1— 10  in terms of what you think are the motivating priorities of each employee.
  2. Then ask supervisors or managers to do the same thing.
  3. Finally ask each employee to rank the list for themselves. You can also ask them to rank the list for teammates.
  4. Now, compare what you thought, what supervisors thought, and what employees said about themselves and others.

There’s almost always a huge disconnect. When we have asked clients to do this, the owners, managers, and team leaders seem sure they know beforehand what motivates their employees. They are almost always surprised with what people say. Even in tough economic times, the employee motivator is not what they or you might expect.

If there isn’t a big difference in your results, congratulations! You’re on course to understanding and motivating your people. This will make leadership a lot easier. We are motivated by what will get us what we want (or value) within our unique timeline.

To get or keep employees motivated, keep checking. You also want to make sure they get what they need or show them that there’s real progress being made in that direction.

My final thought is: no matter what, take some action to find out what you need to do to motivate people. Don’t just jump in and hope you’ve got your employee motivation right. That’s a great way to waste a lot of money and effort.

Filed Under: Administration, Business Growth, Business Management, Business Process, Business Tools, Employee Productivity, Leadership, Planning & Vision

6 Ways to Improve Your Sales Projections

June 16, 2021 By Jan Triplett Leave a Comment

Measure sales carefully to be profitable.

Measure sales carefully to be profitable.

Your sales projection formula is key to more accurate financial projections and to the success of your business.

Sales projection formulas are always wrong. Here are six ways to improve them.

Sales projections are wrong because…

  1. Sales projections are not supposed to be right. They need to be relevant.
    They’re a snapshot. They are a specific point in time, based on relevant data and criteria and are defensible within limits. They give you an idea of what to expect each week or month or year. Improve your sales projections by making sure you don’t accept the projected sales numbers without question — including your own numbers. The answers you get from salespeople in terms of what they think will close have to be reasonable and with some sort of basis not just hype and hope. [Read more…]

Filed Under: Business Building, Business Development, Business Growth, Business Management, Business Process, Financial Management, Financials, Marketing, Marketing Strategy, Sales, Sales Strategy Tagged With: Financial Projections, Platinum Profile™ Customer, Sales Projection Formula, Sales Projections, SBU, Strategic Business Units, Suggestive Selling

Stakeholders Gone Wild

July 22, 2020 By Jan Triplett 1 Comment

Stakeholders can be useful to you but can go wild as well. Photo by cone_dnm

Stakeholders can be useful to you but can go wild as well. Photo by cone_dnm

Stakeholders: can’t live without them and sometimes can’t live with them.

They are customers, providers, allies, employees, colleagues, the government, the media, competitors, influencers and many, many others. After reviewing a stakeholder map example that had 105 entries, I came up with at least 50 more. [Read more…]

Filed Under: Business Improvement, Business Management, Business Process, Customer Loyalty, Sales Tagged With: Crossing the Chasm, Platinum Profile Stakeholder™, Stakeholder, Stakeholder Map, The Long Tail

What’s better for growth: a partner or a strategic alliance?

May 19, 2020 By Jan Triplett Leave a Comment

Partner or Strategic Business Alliance? Photo by Giorgio Montersino.

Partner or Strategic Business Alliance? Photo by Giorgio Montersino.

Get a partner or set up a strategic alliance — which is better for your business growth? Many business owners want a “partner” to  share the load. Partners exert a lot of control no matter how little of the business they own. Use a strategic alliance instead to grow your business and  keep more control.

What is a Strategic Alliance?

“If we are together, nothing is impossible. If we are divided all will fail.” Winston Churchill

The most accepted definition of a strategic alliance is that it’s “a formal or informal agreement between two or more individuals or entities to achieve a common goal”.

In 2005, companies reported that 18% of their revenue was generated through strategic alliances. The economy has changed but there are still thousands of alliances formed each year and are critical as we re-think business post COVID-19.

According to Ard-Pieter de Man and Dave Luvison, authors of Collaborative Business Models: Aligning and Operationalizing Alliances (from Business Horizons Volume 62, Issue 4, July–August 2019, Pages 473-482), “the big challenge is to align company interests with alliance interests”. This peer-reviewed article is definitely worth reading and thinking about especially for larger organizations.

It pays to know more and think more before deciding that a strategic alliance is right for you.

[Read more…]

Filed Under: Business Ideas, Business Management, Business Process, Business Trends, Financials, Funding, Legal, Marketing, Marketing Strategy, Planning & Vision, Resources, Sales, Sales Strategy, Vision Tagged With: Business Alliances, Business Culture, Business Development, Business Growth, Business Strategy, Handshake Alliance Strategy™, New Business Opportunities, Partnership, Strategic Alliance, Successful Alliances

Measure Sales Value 4 Ways

January 29, 2016 By Jan Triplett Leave a Comment

 

CEO Jan Triplett talks to owners about sales value.

There are good, better and best sales. You may have thought all sales are equal.They’re not if you are trying to build a successful business that is sustainable, profitable and transferable.

 Focus on Sales Value

Sales people (even if it’s the owner) need to concentrate on finding and getting sales that add the most value to the business. This requires a sales process that doesn’t just look at the dollars coming in from this sale.  It also can’t include only the costs — money going out, time to get and manage the sale, profit level, and any “hassle” factors.

4 Ways to Measure Sales Value

The value of each sale must also be measured by:

  1. Its ability to add to the reputation of the business and the product or service
  2. How it affects company image,
  3. Its ability to attract customers of the same or higher value to the business,
  4. How well it supports brand and company positioning.

Sales commission, bonus, and career advancement should be based on the salesperson’s ability to bring in good sales and to prevent spending time and effort on bad sales.

Use Sales Value to Prioritize

I have seen it written that 50% of all sales leads are not followed up. That sounds bad. What I don’t know, because they don’t say, is how many weren’t followed up on purpose. Maybe they were right!

Choose sales opportunities at your own risk. Choose wisely and succeed. Choose poorly and there are long term consequences.

Use Sales Value to Allocate Resources

Don’t go after every sale equally. Evaluate and prioritize those new leads, upselling opportunities, or repeat sales in terms of those with the highest value.

Also, make sure your sales process gives you and your salespeople a way to quickly identify bad sales opportunities that should not be pursued or only under restricted circumstances.

The less the sales value, the more likely it’s a bad deal or at least should not be given the same time, effort and resources.

In  the end, it’s the quality of each sale, not the quantity of sales that matter.

Here’s to your success!

Filed Under: Business Improvement, Business Process, Sales Strategy Tagged With: Resource Allocation, Sales Focus, Sales Priorities, sales process, Sales Quality, Sales Value

Business Owners Hierarchy of Needs

June 22, 2013 By Jan Triplett and Daniel Diener Leave a Comment

What motivates business owners? It depends on where they are in the owners' hierarchy of needs.

What motivates business owners? It depends on where they are in the owners’ hierarchy of needs.

You’ve probably heard of Maslow’s “Hierarchy of Needs”. He identified how a person’s needs dominate motivation and behavior and that there is a specific order in which they should be met.

His theory suggested that the basic needs (physiological, safety, love and belonging) had to be met before the individual will desire and pursue higher levels of needs (esteem, self actualization, and self transcendence).

If a need is not met, the individual will feel tense and anxious. Although people may have several needs at any time, one will dominate their actions. [Read more…]

Filed Under: Administration, Business Building, Business Development, Business Ideas, Business Management, Business Process, Financial Management, Marketing, Marketing Strategy, Networking, Planning & Vision, Research, Sales, Sales Strategy, Small Business Research, Vision Tagged With: A Networker's Guide to Success, Business Growth and Development, Business Owners Hierarchy of Needs, business transference, Employee Training, Exit Strategy, financial management, Government Compliance, marketing, Maslow, Maslow's Hierarchy of Needs, Platinum Profile Customers, Processes & Procedures, Ramping Up, Sales, Scalability, Team

7 Ways Conflict is Good for Business

March 29, 2013 By Jan Triplett Leave a Comment

Positive Conflict™ requires thinking outside the box. Illustration by Mamadob

Positive Conflict™ requires thinking outside the box. Illustration by Mamadob.

Conflict is valuable in the workplace. In fact, it’s actually good for business.

You might not have thought of it as being positive but it can be when people use care with each other and stakeholders. They also have to put something like the BSC’s Fight Fair™ strategy  in place.

I just had the opportunity to spend two days working with the staff of an Inc 5000 company on improving their communication. This is a high quality small business but staff members and the owner wanted to make sure they were dealing effectively with the internal and external conflicts that come up in every business. [Read more…]

Filed Under: Business Ideas, Business Management, Business Process, Communication, Customer Relations, Leadership Tagged With: Business Success, Conflict Resolution, External Conflict, Fight Fair Strategy™, Internal Conflict, Positive Conflict™, stakeholders

Meet BSC Satisfied Clients

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Upcoming Events

BSC Success EVENTS to help you succeed and grow.

BSC's Global Success Forum™ RSVP & Info
Direct Link or dial in: United States: +1 (312) 757-3121
Access Code: 685-053-101

(Forums are held on the 1st Thursday of the month, 11am Central with a focus session led by a mentor expert in that issue and lots of time for other attendees to talk about their business, comment, and share their expertise.)

• April 6 2nd Quarter BSC Lean® Success Forum™, 11am Central.
You suggest and choose the business topics. Dave Nave, Dave Nave & Associates, and Jan Triplett, CEO, BSC lead the open discussion with ideas, feedback, and examples from all attendees and make connections.
Bring your topics or send them to Dave in advance to dave@davenave.com.

Please RSVP NOW at https://bit.ly/BSCForum" or https://www.eventbrite.com/e/bscs-business-success-global-forum-online-tickets-100809251184 or just come. We'll fit you in.

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• April 13 BSC Wisdom Wed Webinar and Work Session: Success Management Series — Operations Systems, Compliance and Costs 11am https://bit.ly/WisdomWebinarSuccessMgmtGuideSeries"

This is always a mentoring and work session with input from attendees. RSVP to get the recording and transcript even if you don't attend.

Webinar and Work session leader: Jan Triplett, Ph.D., CBTAC, and CEO of BSC, author, entrepreneur, advocate, speaker, and inventor.

The purpose of each BSC Wisdom webinar and practical work session is to focus on shared experiences and expertise. Walk away with ideas and connections.

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Be sure to check out our five blogs with posts to help you grow!
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