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If you are not having fun it never gets done.

August 6th, 2010 Gordon Wood 1 comment

"However beautiful the strategy, you should occasionally look at the results"...WCPrint Print

image As a consultant most is know that much of our work is detailed and exploratory. Making change means we need to study and discuss the gaps in the “what is” position so you can have a discussion about changing that state. This takes planning thought and collaborative skill to get people to dig in to the detail and then go a new way to fix the problems we find. That process can be both continuous and radical.

Either way it happens best if the process is fun so people enjoy engaging to get detail information and explore looking for solutions and best practices.

I read something recently about teaching, and it seemed to me the parallels with consulting are similar. The article about teaching in an Asian culture pointed to quite different approaches needed to what we see in the so-called traditional west. A British teacher posted this in the Naked Farang entitled Working teaching Thais

In it he reinforces to be a successful teacher, the best advice is to steer away from boring lectures, long explanations and tests. Like we find also in consulting workshops, making your classes interactive and fun works best. Then not only do students enjoy the classes, but they also learn from them by being involved. The post goes on to explore some great examples that are thought provoking for every culture. It well worth a read.

We have to take all of this into consideration when we decide how we are going to manage change too, In addition to human cultural difference there always different business cultures which vary from business to business too. The common thread however is that people everywhere like to have fun, even at work. The corollary truism to this makes sense. “If you are not having fun it is very hard get things done”

In a work place it important, like it is with most students to win them over early. If they think that learning about change is going to be too serious, people involved will mentally switch off, turn up late or skip sessions and make minimal progress. The flip side is people will be more motivated to be productive and learn effectively if they enjoy the work and have a rapport with the leader.

This is deeply ingrained into Asian cultures more so than the west as following is more encouraged rather than making direct contributions at the risk offending or losing face. In fact, why should we want to change it? We should be flexible enough to adapt the way we teach or engage with people in any cultural styles.

In a workplace these cultural differences can be used to advantage as people who work in silos have fun with to joining the dots when you get them together.

As an example an Asia culture with students and what westerners regard as cheating in class can be of great value, In Asia this is almost pathological. As left to their own devices Asian students will typically gather round to just copy their answers. The counter-productiveness of this has absolutely no logic but you can do nothing about it.

Knowing this means at work however getting people to work things out as a group can be used to great advantage when they are given a problem to study and naturally relax under the protection of group discussions.

Another aspect of leading for results I have found useful, being foreigner is to set the scene in the common language of English then allow it to debated out in the native tongue. This can be very effective in facilitated workshops if it is allowed to run under this protection. By contrast to large passive participation in lecture style workshops, allowing time for discussion in the native tongue sees the noise levels and participation very high from all levels with occasional so called clarification feedback so you can keep it on track. That can be a tough call if your local language skill is not good. But other signals and natural group dynamics tell most of the stories as you just watch while people get comfortable and to the point. It is far from boring with the challenge to get agreement to move to the next steps.

The spoken language too is not the only tool. As we all know speaking is based on not only being cohesive with words and body language but also on the history in local cultures that have much deeper meaning. So unless you are stupid and use a Shakespearian style straight forward English is common use and widely accepted as the written structure format. Most Asians in business now have better understanding of written English even more so than a locally expressive document. Hence we often find people at all levels ask for a document before they ever ask for an explanation. The trick then, as with everyone, is it walk them thru it and allow learning process to take its course.

Another wonderful example of understanding rote learning is in the Naked Farang post.

He says, “When I was in high school in England, one of my favorite subjects was history because I enjoyed hearing about how important events and people changed the course of history.  We would analyze these lessons to see what we had learned and how they affected the present. It was, to me, fascinating and stimulating. In contrast, I hated maths because it just seemed too inflexible and boring.

For Thai students, history is one of the least favorite subjects simply because of the way it is taught. The students are simply expected to memories names and dates without actually attaching any significance to them. There is no wonder they find this boring. In contrast, moths is a popular subject. Why is maths so popular? Well, instead of rote learning names, words or dates, maths offers the students a relative degree of academic freedom because they can learn formulas and experiment with them. In an environment where everything else is so rigid, this is their chance to express themselves.

In our business world of consulting to identify problems and find solutions is always a challenge. But as always the biggest challenge is implementing in diverse cultures that by nature don’t really want to change. The process of learning how to do this is constant and ever stimulating to me

I am always fascinated reading and taking to others about their insights and experience. If you feel inclined please share your experience. I would love to hear about it.

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Can “Drive” itself be a motivator more than money?

June 4th, 2010 Gordon Wood 3 comments

A popular myth in business and life is that it is only money that motivates. Consider why you go to learn to play a piano or join a speech club and why you find so many professionals doing more creatively work for others for free when their employer pays them for the same type of work.

End user tools such as Gmail plus backend server tools like Lynx and Apache are some of the world’s highest used technologies. These are examples of things that would have never happened were they not motivated to be created by something other than money.

It may be true that the more money works to get better results when the task being done involves mechanical skills based on a set of rules. Then the more you scale up the pay as the  reward the more likelihood there is for a better result.

However MIT and other studies conclusively find that once a task calls from even rudimentary cognitive skills, the results most often get worse when you use more pay as the incentive to get more results. Profit motive then gets unhinged from purpose and bad things start to happen.

This is discussed in this Royal Society for encouragement of Arts, Manufactures and Commerce (RSA) Animate Video – “Drive: The surprising truth about what motivates us

This calls into question that if you reward something you get more of the behavior you want and if you punish something you get less.

The video that is has had extensive viewing since it was published on you Tube in April 2010.

This lively RSA Animate, adapted from Dan Pink’s talk at the RSA, illustrates the hidden truths behind what really motivates us at home and the workplace. www.theRSA.org

It bears no more comment except to say it may the best 10 minutes of essential information you can get to help you understand and pass your next creative leadership challenge.

 

Here also is the live version of Dan Pink’s RSA talk if you prefer to see him in action.

I wonder what others think?

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Making Sense of Stock Market Behaviour

May 11th, 2010 Gordon Wood 3 comments

image

In the wake of the Greek financial crisis in Europe, world stock markets, including the beleaguered US ones, last week had downslides. Late in the week Australian markets also dipped but they are all now bouncing back.

A mate in the US I spoke to this morning said after yesterday trading,

“I need another rally to recapture losses from last week.”

As with many like me we have been concerned for our retirement and investment plans. Even short-lived shocks make us nervous as regained confidence in the Australian market has been supported by a strong currency with strong trading ties with Asia.

To help understand this more I got a timely email this morning from my financial advisors, Mathews Steer. It carried a tag line “Where do I go from here” and went on to say:

Last week the US and Australia saw some extraordinary market movement for asset classes across the board.

A weaker Asian market during Thursday (thanks to China being down 4%) set the tone for European markets to be weaker when they opened on Friday. Along with continued concerns over the protests in Greece put additional pressure on the Euro, which fell to levels last seen at the beginning of 2009.

Investors had potentially been looking for some additional information in relation to debt default risks in Greece and the possible contagion in to other European countries from the scheduled meeting of the European Central Bank, but this didn’t eventuate, and uncertainty weighed upon the market. That said, the Greek parliament voted in favour of the austerity measures from the European Union (EU) and International Monetary Fund on Thursday, and there will be more news in the coming weeks providing further clarity.

This more negative tone flowed into US markets last week, even though no new fundamental news came to light. The negative sentiment was vastly exacerbated after the market fell abruptly in Thursday afternoon trade. Speculation that a trading error occurred saw a sudden drop in the market triggered a barrage of program stop-loss selling, which saw the S&P 500 index down 8.5% at one stage. Buying quickly returned but the market didn’t have enough time to pull back all the losses , eventually ending down 3.2% for the day. The sell-off also spurred safe haven buying in gold, US treasuries and the US dollar.

The reaction last week did spark panic and uncertainty, and with the memories from two years ago still fresh in investors’ minds, many people may be asking whether we’re going to have another massive sell-off. But economies are healing from the aftermath of the economic crisis. They’re in a much better position than they were, and markets have reflected this to a large extent, however, there is still much healing to be done and there will be bumps along the way, economies are well traversed on that recovery road.

The Australian market opened sharply lower last Friday but by close of trade it had progressively recovered some of the drop and has continued to recover this morning.

Markets, remain highly sensitive to both good and bad news, which will cause significant short term volatility, such as what we are seeing at the moment. Investors like to have a degree of certainty around issues and when that is not provided, fear can dominate investment decisions.

But an investment strategy should always focus on the longer term goals rather than reacting to short term market noise, which has been exacerbated by panic and the events over the last few days and needs to be put in context of the improving bigger picture.

If you have any questions about this email or your personal situation please contact Geoff Steer or Anthony Flapper on 03 9325 6300

~000~

__________________________________________________________________________

About

Matthews Steer say when it comes to business, owners and managers face significant challenges. Underpinning those challenges are 4 mindsets that often need work …

  • the lack of peace of mind around their business
  • the lack of confidence to grow their businesses
  • the lack of confidence of their banker which stifles growth due to lack of access to capital
  • an inability to translate business success into personal wealth

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Two ears, two eyes and one mouth!

April 23rd, 2010 Gordon Wood 3 comments

imageWhen learning the skills of selling, the hard way I might add being a finance man, my colleague and mentor at the time, took me aside and said,

“You have two ears, two eyes and one mouth. To be effective in sales you need to use them in the same proportions.”

I never forgot that lesson and when I fall behind, be-it in following, leading, presenting, selling or just trying to motivate myself or others on a mission, I check if I have that in balance.

This lesson resonated with me again this week in a discussion with the Mike Plaxton CEO at Krungthai AXA Life Insurance in Thailand. He carries the burden of Executive Leadership as part of this multinational Financial Services Industry Group.

To stay in touch with his sales force of nearly 10,000 direct selling agents and financial advisors in the well-organized Krungthai Bank, he has a luminous team who help them all deliver outstanding results. Last year for example, in the mist of all the gloom and dome Krungthai-AXA Life delivered a massive 30%+ growth and is maintaining that momentum again in 2010.

In the context of deploying a new performance based business intelligence system, we were talking about practical ways to generate more quality business and lift the momentum. My interest was in exploiting the business change value my organization Shernox Group had delivered with the implementation a data warehouse based system using INFOR PM as its centerpiece.

I asked him how he planned to use his new BI capability to drive sales and business development campaigns. In his response he gave some great best practice insight.

I spend my time in conversations asking questions as I try answering none. My job is to listen so I can help people focus their efforts in discovering the answers they need to do their job from the data they collect on their job. And to engage their hearts and minds to focus so they know they are well supported.

When I talk more and listen less, I only engage their minds and my ego.

Having our up-to-date performance information on tap and in sync that we can trust and all share, means we can have very good conversations. And I can listen more to help them increase their momentum. My job is to get them to use the information they have by questions that help them understand our business.

Information is knowledge and knowledge is power – their power not mine.”

- Michael George Plaxton  CEO Krungthai AXA Life Insurance Co Ltd

_________________________________________________________________________

About: Krungthai AXA Life Insurance Co Ltd

AXA; the leading European insurance company is a shareholder and partner with Krung Thai Bank PCL of  KrungthaiAXA Life Insurance. In Financial Markets AXA is positioned as a Global Leader in Financial protection.

Krung Thai Bank PCL symbolized by the “Wayupak bird”, is one of the leading Thailand banks. It proudly boasts one of the most established and enviable branch networks and brings to the partnership a truly dynamic value with its Bank Assurance Channel, a key contributor to the business success.

With impressive growth under Mr. Plaxton’s leadership, in terms of New Business, Krungthai AXA is ranked 5th on the leader board in a field of 24 major players in the market.

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Doing supply change on the run.

April 21st, 2010 Gordon Wood 1 comment

In my CFO Network Group recently there was a great discussion that gave so many useful ideas and insights about cutting costs.

image There a question was posed by Riyaz Lalani, Business Development Manager, BC at Canadian Traffic Services Group Ltd

Reducing costs? Why is there hesitation to make a change when it impacts the bottom line?

Here is my two bob’s worth:

Reducing costs is one thing which may just mean tightening the belt or asking a supplier to reduce. That is called “running the business, which should always include knowing the potential value of low hanging fruit”.

Change is another thing that is more difficult to make even though change itself is a constant in the day-to-day world of business that must be handled. So combining the two in a continuous improvement culture with transparent feedback support and operational measures in place can let everyone work out how to keep up as a way of life. A great business axiom too is “Plan=Success No Plan=failure”. So making cost cuts does need some thought.

With suppliers and customers included that can take care of a lot of issues and your business will grow organically and often at pace. Efficiency cost reductions too fall into in balance so risk issues and relationships don’t burn you later on.

Making step change for all the same reasons as many people have stated, is actually much more difficult without taking a step. And that takes commitment, resources and often a catalyst to bring it about.

When integrating businesses cultures and/or changing software platforms to re-focus business processes, you will most often see strategic growth as the aim.  Then culling redundant processes will also deliver cost reductions as one of the benefits.

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Integrating supply chain players.

February 3rd, 2010 Gordon Wood 10 comments

image As the downturns kicked in last year for a while it seemed the music may stop. But then someone said ” Play it again, Sam?”. In our company this has seen some rapid growth in e-demand for our services. This is especially so in support area as customers had deferred investments in favor of making things work a bit longer while things were tough.

As one who literally works daily in 3 continents and in as many languages, I am a fan of the idea that I can collaborative simply with pervasive communicational tools. These days we can also all use then at an easily affordable cost.

For me and my colleagues was are able to do this using our versions of Beam Me Up Scotty communicator to keep in touch on a far wider surface than the conventional quarter imagemile of traditional business. Hence as the demand has changed we are always in touch and  contactable with this capability we now continue to service long standing customers often without the need to even leave home.

For 15 years and more we have been able to connect in some way like this. Both informally and formally alliances and colleagues do business this way and more recently we also do it directly with customers.

Even as they move around when I turn on our computers each morning I have maintained a strong presence that has kept me in touch personally with key contacts and customers on a daily basis.  Daily habits are also subliminal as people come and go online with an in touch awareness that keeps us connected. And once trust is established we are generally all happy to be available to each other at any old time.

But of course the face to face activity will never be totally replaced. For example selling  is a contact process that requires continual reinforcement of trust, and capability. These  credibility assurances are vital to maintain ongoing connections. The ability to listen and anticipate needs is the real key that provides the quality in the dynamics of business. This cannot be done without physical presence so salesman and supply chain players must continue waking around. And without that best laid plans for automated process supply will also fail as competitors exploit any gaps that appear and move in on your patch.

That is why, even though systems give us great contact presence online now, we must never forget to call in on our suppliers and customers from time to time.

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Mahajak: Model for Enterprise Innovation

January 29th, 2010 Gordon Wood 2 comments

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Before heading home to Australia from Bangkok in late December, I went to a pool side party in an apartment building. This party was for the management and the staff, hosted by a long term tenant to say thank you.

When in Bangkok I stay at Mahajak Apartments in the very livable and popular downtown area of Sukhumvit. We have had this apartment for many years, after finding hotels impersonal and transient. For our business we have had similar sets up in Singapore, Indonesia and London, but this one in Bangkok is quite special.

Although Bangkok is not my home, I feel like it is as I come and go. Our office at Central World is a few minutes away and our customers also see me as relaxed to continue to be around for them.

Regardless of traffic and the bustle of this very large city, when I arrive, it is a most pleasant experience. It never lets me down as I am greeted by a “Sawasdee”, with welcoming smiles and an attitude that nothing is ever too much trouble.

The building owners are a family, who also own and operate Mahajak Group. This is a significant well established group with a reputation for high quality. Built around automotive nuts and bolts, these days it clip_image004has diversity that also specializes in such things as quality air-conditioning, home automation, and audio and entertainment equipment and more. The families live in the building themselves during the week to run their operations in the building adjacent. So like me it is their second home, so it is important it works for them too.

The building is modern looking although it is about 20 years old. It has a welcoming feel when you walk into the reception but even before that the security staff make you welcome.

Despite being in one of the busiest and vibrant areas in Bangkok, the building itself is situated in a quiet and relaxing off street area which fits into the landscape that over looks the city. In-house staff is employed to manage maintenance but they are unlike others who just take care of the infrastructure. At Mahajak Apartments they have a proactive and in touch approach to attending to tenants needs, no matter how big or how small.

Khun Angkana, who is one of the principals in the Mahajak family, takes an active part in the day to day operations. Being both a customer and provider of her business, she certainly understands first hand customer’s needs; she is also extremely well liked and highly respected by everyone. She is fluent in English and also in Japanese, which she studied at Chulalongkorn Univerimagesity. She can be often seen working away at her desk as she translates some documents to or from Japanese as a sideline and hobby work for a former employer.

In this prominent sought after location in the Sukhiumvit area with a large ex-pat business population her track record is unique, with so many long term residents. With her team, their attention to detail to make everyone feel at home is what makes the difference to keep the tenancy rate so high. 

But during last year as things got tight with the downturn in business and tourist trade, I noticed a change. One day, with her staff, they were busily arranging short term accommodation for someone new. Later I asked her about her approach for handling the mix of long stay residents and short visitors. She told me how full service short stay people were now filling the gaps left by long termers who had vacated.

Short term guests were also happy to pay the better rate than hotels or a mainstream serviced apartment.  This approach, she said, was yielding well as people sought home style accommodation for periods from one to four weeks. And with such a good location she said she could also be selective to ensure long stay people were not impacted.

The initial approaches were from people needing family accommodation to visit the nearby world class Bumrungrad Hospital. Many come there from all over the world for hard to get and affordable treatment that is more out of reach in the home countries. Mahajak being so convenient is a bonus.

So now the Mahajak Apartment focus has shifted to also be good at providing this much needed accommodation service. The upside too the atmosphere now has more a light hearted feel as short term people engaged in neighborly exchanges with long-people like me.

On one occasion, Angkana’s husband confided to me that even though the percentage of short stay was low, it had made the difference and showed them that alternative markets were an option, even when facing adversity.

Even though property management is not really our core business”. he said, “this model and this experience has opened our minds for expansion as the market returns”.

If you are planning a short stay,

Check it out at http://www.mahajak.com/apartment/index.htm

Or just contact them by email for more information.

 

Quick Poll:

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Top US CEO’s of the decade

December 28th, 2009 Ralph Eastman 2 comments

imageEric Schmidt, became CEO of Google in 2001, His watch in the decade saw the Google initial public offering in 2004 with stock skyrocketing from its $85 offering price to $600 by 2007. GOOG’s five-year return was 228.50%.


in the Huffington Post
in her article updated: 12-24-09 01:46 PM Grace Kiser goes on to say”

The 2000s certainly seem like a ghastly decade. The era’s already fabled financial debacles — among them, Enron’s bankruptcy, the burst of the tech bubble, the collapse of a number of financial and lending institutions, and Madoff’s ponzi scheme — can inspire a certain cynicism about the merits and promise of business and entrepreneurship.

But at decade’s end, we didn’t want to forget about the companies and leaders that excelled during the boom and largely weathered the downturn.

We looked at a select group of elite CEOs from a wide range of industries, and plucked out who we think demonstrated the most exceptional leadership over the past ten years. Though our analysis is admittedly subjective, we also considered stock prices — a five-year return, to be specific. And because last year’s financial crisis has battered so many stocks, we also considered softer factors such as long-term vision, brand building, and what each CEO had to contend with when they took the helm.

I do recommended to take a look at the US CEO’s nominations in Grace Kiser’s Huffington Post article. It is a great reference with a summary of the achievements of business leaders nominated. People like Michael Dell, Steve Jobs, Larry Ellison plus many more are featured.

There is a poll to vote on too if you want to participate

http://www.huffingtonpost.com/2009/12/24/best-ceos-of-the-decade-p_n_403032.html

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Making Leadership Choices!

December 11th, 2009 Gordon Wood No comments

image For a few years I have been routinely updating a collection of Humour for all Occasions with material my friends send to me.

Last week I received this story from Ineke Williams in Australia.

You may have seen it. It has been republished quite a bit.

Given we lead in a certain ways, the twist gives something think on to motivate.

My noble stand in sharing it on PerformanceController, is to stimulate alternative thinking on how to build winning teams. Far-fetched and unrealistic, maybe? The real truth is, I just like the story!!!

It starts and ends with a question,

Would you have made same choice?

Read more…

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Stress: Is more “Sink Time” needed?

November 6th, 2009 Nada Mills 6 comments

imageDefining the workplace now sees many of us having had our lives so infiltrated completely without even noticing it. And it has also moved into those natural gaps in the day that allow us to maintain our sense of reality and balance. Like blinking gives the eyes a rest, those gaps give us natural respite.

Hence as our workplace has become more intrusive it is now so very different to “once upon a time”. Conventional wisdom once suggested we should manage stress in the workplace by determining; the boundaries between lower limits of too little to do and few rewards and the punishing regime of too much to do and too little time to enjoy the rewards. Both extremes provoke de-motivating stress.

Once upon a time… yes it does sound like a fairy tale… there was a man who caught the bus to his office every day. He would get up at a respectable hour and start the day with a run in his locale, nodding to the other regulars who also made time for exercise routines. It was a time when he would actually sift through things in his mind that he was expecting to tackled that day. “Sink time “, a colleague used to refer to it as. That is a time when bad ideas would sink so good ideas can surface and when creative responses to difficult situations might emerge.

The walk from the bus stop to the office was the most valuable as the days focus started to become concentrated” This period of sink time” was when could finalize his strategy for the work day.

These days with far less structure and routine available in our workplace to us, we still need to find the time sink time for some natural ways to allow the junk to fall and the good stuff to rise, so we can manage our lives to have one.

____________________________________________________________________

Nada Mills is a retired clinical psychologist enjoying living in Perth Western Australia

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Why hire an employee when you can rent one?

October 31st, 2009 Gordon Wood 3 comments

imageLeveraging on “Are we better off leveraging experts?”, this is a question a US consulting firm caught my attention with this week when they followed me on Twitter  In their web site they asked “Why hire an employee when you can rent one?” Their message pitched to sell their value also just makes so much sense as it goes to the very heart of the issue.

This small firm, called Kettle River Consulting, with its unlikely yet instantly recognizable self branding name,  grabs readers well with some clever well placed business basics. One is a challenge they suggest you chew on to “Make Your Server Room Get Along with Your Board Room”.

In their offering on managed services, they present their  case to engage with a compelling argument that the cost is less than staff costs of full-time employees.

They expand this by saying,

Some companies hire one team to write their application and another to maintain it.

The latter team is instantly at a disadvantage, because all of the knowledge of the business processes and the application itself resides with the software developers.

A second drawback might also be personnel-related. To manage an enterprise application, a company needs the continual services of talented developers, database administrators and network operations staff.

If these were all full time employees, the cost of running the application could become burdensome.

When I looked more into Kettle River Consulting, also at twitter.com/KettleRiver, it seems it was founded on an opportunity to delver real customer service that so many others in reality only have in their mission.

According to their site KRC, as they also refer to themselves, was started when an a German marketing firm, who had previously acquired a US software business, then changed direction and decided to close it. This left stranded many long-time and loyal clients with an ongoing  need for the expertise they had relied on for many years.

Another perspective of this company shows up in the “Favorite Quotes the KRC Team have on their profiles; such as,

  1. Whether you think you can or whether you think you can’t, you’re right.
  2. Data outlives the application in nearly every business.
  3. Don’t fear technology, use it to make your life better

I enjoyed reading the KRC site and learning from them on how to be humble and still look very professional. This very human looking company makes so much sense and one I would definitely feel I would like to deal with if I were a local to Minnesota.

This firm albeit small teaches by example some big and valuable lessons for doing business from its equally small yet famous area located in the southwest corner of Carlton County.These days of course with communications being so good even in the Asia Pacific regions, they could ofcourse be local and help others in need on that side of the world.

Here is something else i found out.  The Kettle River area of Carlton County Minnesota, was settled by a large concentration of Finnish Immigrants in the years leading up to the First World War and the influence of those immigrants is still noticeable even today.

Every August the town hosts Ma and Pa Kettle Days, an annual festival that includes a pancake breakfast, parade, a Miss Kettle River pageant, a mud bog on Saturday afternoon and street dances on Friday and Saturday night. . (if you want to learn more on Kettle River my source for this post was Wikipedia)

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Competency: Not just a Cobbler’s Art

October 9th, 2009 Gordon Wood 1 comment

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In the competency stakes there are several stages to achieving mastery. To understand this is to understand your value and what you must do to maintain it. As you become more capable the ground will likely shift as you realize what it means.

Consider the cobbler starting as an apprentice. When he begins his indentures, even the smallest task needs someone to teach him the skills. He is understandably quite unaware of how to even approach competency, let alone what it may look like.

You might say he is unconsciously incompetent. But his next stage, not surprisingly, is being conscious of his incompetence as he accepts, on faith, what his mentor and teachers say he still needs to know.

Once he develops skills he moves to an unconscious state once again as he makes it. But it still takes time and effort for it to sink in that he is is actually there. Consciousness does not return until the next emancipating stage clicks in, which may well be the point that sees him graduating as a qualified craftsman.

But what of the final stage to achieve mastery?

Read more…

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Getting Even For Competitive Advantage

September 23rd, 2009 Gordon Wood No comments

clip_image002When you start a new business or new product there’s a lot to consider. Not only must you have a good product and story to go with it, you must build credible and persistent processes to maintain it and keep out your competitors.

In the early stages process are intense and costly. As you seek out early adopters to invest in your products to being them to market the first sales will cost more. You invest not only in product and capability but also in promotion. But the secret of success is to reach the breakeven point quickly.

At some point in your plan you must see the critical mass needed to reach sustainable levels of profitability and where you stop investing more money. You will also want to see sales able to come in more freely as word of mouth and repeat buying habits replaced your high cost of marketing and promotional effort.

Getting customers and keeping requires you earn the right  with a good reputation with and be known to delver sustainable value with reliable service. And once you are established you must keep and ever more vigilant stay ahead in the game as competitors try leveraging and copying your work.

As you make outlay on skills, systems, machines and a team it is it is like making a garden of food. Planting the seeds and making them grow to mature is only  part of the investment. A great deal more effort is also required to get the product to market. That needs good processes for placement to sell and deliver new and repeat business that works for your customers.

Then as they learn about you and of your value and how to buy from you, your aim is to then have then impressed to want to form habits and continue to come back.

Here are some of marketing plan elements most experts say you need to consider to make all that happen: 

  • Word spreads where your success and reputation reach other prospects.
  • Repeatable process occurs where your work for one can be used to help another.
  • Budgets exists where there is more than one player with money and a need to solve a problem.
  • Barriers exist so it is hard for copycats to steal a share share of your business & to lower prices.
  • Prices rise as reputation increases and so you can charge more, not less.

In a services and many small business a large percentage don’t measure up. Banks also worry about these aspects when they get business plans that ask them for funding.

Have a think about how you business plan looks. If it meets these criteria you are on a winner. But if it is not working as you would like or you have some doubts, get some advice to help you understand how make it happen.

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IBM: Service Model for Small Business

August 15th, 2009 Gordon Wood 3 comments

Former IBM head Thomas J. Watson Jr, is listed as one of Time Magazines 100 most influential people of the 20th century.He lead one of the worlds best selling machines.from 1952 to 1971, In this 30 second voice clip he says that service is something most companies forget. Listen  for yourself in this item recorded in 1993 the year he died. it says so much about what makes for success.

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Thomas Watson Sr, his father, joined IBM in 1915 the year after his first son was born. His regime began with a concept that the company would grow by THINKING as he said:

“We must study through reading, listening, discussing, observing and thinking. We must not neglect any one of those ways. The trouble with most of us is that we fall down on the latter – THINKING — because it’s hard work.

I found it quite interesting when I listen to the 1993 dated clip of his son who had headed up one of the worlds largest and most successful selling companies and his father who built it from less than 300 people  after he joined it from NCR in 1915.

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The Non Disclose Agreement

August 12th, 2009 Gordon Wood 1 comment

On all new potential business engagements, one of the biggest blockers to communication is the ease of access to information.

A prospect will always baulk at giving confidential information, even when it is vital to allow a vendor or consultant to provide a solution. Time and valuable communication are often lost and many times even the opporunity when the simple solution may be to just sign a non disclosure agreement so you can keep talking.

In most cases when I suggest this things start to move along. But then there is the issue of whose NDA form do we use. As people head for the legal department it has the poterntial to stall again. So to make it easy,  I offer ours and often times it is enough and does the job well.

There are any number of forms around for this  For example  http://www.ndasforfree.com/ has some good formats to check for various scenarios Here is one we use that we find has quite simple language and works for us. Please feel free to give it a try or give me some feedback.

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Power Talk International

August 9th, 2009 Gordon Wood 1 comment

With my Marg & Gord - Torquay-1wife Margaret, in June this  year, we visited the Bangkok chapter of Power Talk International . If you have never heard of Power Talk International you may be forgiven. To put it in context, in 1970 the Apollo 13-astronauts took with them three of its formerly named and long time established Toast Mistress Club seals to leave on the moon.

Power Talk, like so many others clubs of its kind, recommends public speaking as a must  for anyone in business, or who has anything to do with communication and influencing people. But even if you are not so inclined, being able to face the fear of speaking in public is  one of the best personal confidence and performance enhancing skills you ever can have.

As a past member from Australia, Margaret had been warmly invited to visit and give a talk. The regular 6.00 – 8.00pm. 1st and 3rd Wednesday of each month meeting was at Goethe Institute , Bangkok.

In her talk she spoke about her experience growing up in the grape growing district of Mildura in Australia during the 1950′s. This region was an area that had been settled by a soldier settlement scheme. Her father, Bill Broes was a WW2 veteran, who will be 90 on 24th this August 2009, had bought up a quota. This was also at a time when Australia was still a developing nation, so it was an interesting time to look back now.

Here are some photos we took of the club and some speakers that I have set to some music in a video as a memento.

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Case to Monkey with Dunbar Limit

July 27th, 2009 Gordon Wood No comments

 

In a context of  understanding the next generation of performance management thinking, to overcome behavioral change barriers using social networks, a recent Wikinomics debate on relationship limits got my interest.

This debate asks the question:

If its true our neocortex has a finite limit to have only approximately 150 meaningful relationships, then what is social networking achieving? Read more…

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Giving Pen Empowerment to Youth

July 17th, 2009 Gordon Wood 2 comments

imagePerformance management generally focuses on organizations and improvement and needs serious experience and  focus. But here is something that places youth in the chair. The question is, with so called YGEN attitudes today, how can anyone seriously suggest development can be done by young people?

Well Clare Hanbury does and this is what she says:

With our help, young people, can help solve society’s health & social justice issues,

We are now living in an amazing transitional time with a generation with new ideas and an extraordinary ability to multi task. These can doers are trail blazers with a disregard for expertise and a heightened sense of personal power. They  believe theirs is the only way and they are ready to do the work

To get results we must join youth where they abd asked how close they are to the problems they are trying to solve.

On 3rd June at the Dialogue meeting for 40 Nordic NGO‘s and donors in Copenhagen, Denmark. she spoke about Role of Children and Young People in Development. 
  
imageIn this talk Clare  makes compelling points with real life examples that give young people the power of the pen and encourages them with respect and connected listening to keep them close and involved in getting solutions. Here is the link to her talk.
 

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Success is not only being smart.

June 15th, 2009 Ralph Eastman 2 comments

 

rapheastman1 Do’s and don’ts of business etc., are copied around the web by many as they share their finds. Here is one such resource.

Why Intelligent People Fail by psychologist, Robert Sternberg is worth bookmarking to use as a check list when you are planning your next failure. 

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Walk & Talk Straight Practitioners

June 13th, 2009 Gordon Wood 1 comment

Stephen Few and Nigel Pendse, are examples of business experts, each with quite distinctly different styles and modes of working. Both call it as they see it without fear or favor .

New Blog PhotoThey can do so because they do the ground work and run their business in a way they can claim that right.

Pendse, is widely known and respected by all in the performance management business community that he serves on all continents,

Stephen Few, is a US based consulting specialist and author. His style is no nonsense to the point and he calls a  spade a spade.

Something each wrote recently under a clever headlines got my attention.

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