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Missed Opportunities- Complacency Kills Growth
Mobilizing Your Team for an Increase in Business
2/5/2018
By JODY BAGNO
The Economy Looks Good, But Are You Ready for Growth?
A recent article from Goldman Sachs stated, "For the first time since 2010, the world economy is outperforming most predictions - a trend that Goldman Sachs Research economists Jan Hatzius and Jari Stehn see not only continuing but amplifying in 2018. " That can be very exciting news if you are ready for the growth, but if you aren't, you could miss out on the very opportunities you have been praying for!

Last month, I was with a management team of a healthy growing business. Because of their sustained growth and success, a bit of complacency has set in among the managers.

Complacency is usually demonstrated by a lack of urgency to get stuff done.

At the end of the meeting, the President shared that not only had the company completed one acquisition, but 3 more were in the pipeline and likely would be successful. You could feel the panic in the room. Although we had been talking about strengthening their infrastructure for growth over the last six months, no one really took it very seriously, (except the President and CFO.)

This new information meant that the workload would dramatically increase for every manager who had not taken the time to:

-identify inefficiencies in their own departments, -train employees to take on new responsibilities, and -have conversations with their teams about weak areas that would be revealed with growth.

As a result, the company either needs to scramble to be ready, or pass on what could be key opportunities to build market share.

Complacency can be deadly to a company.

If you know there is potential growth on the horizon for your company, there are some simple steps to take TODAY to get ready.

3 Key Steps to Mobilize for Growth
CLARITY: First things first. If a group of musicians gathers and each person plays whatever tune they want, the resulting sound is noise. In contrast, if the conductor of the group, picks a song and gets everyone to play from the same page, the result can be great music, which is much more enjoyable for an audience.

It is the same for your company goals. If there is not clarity about the biggest priority for the year, your people just hear a lot of noise.

(If inside your head, you said, "The biggest priority is to make more money," you have missed a golden opportunity. The priority would then be to identify what is not happening now to enable you to make more money? Money is much like a score board that reveals whether or not you are focused on the right things.)

Does your management team have clarity about the most important Priority-goal to achieve this year? If not, the results may feel and sound like noise to everyone involved, instead of music to one's ears.

The word Priority was never meant to be a plural word. If everything is important, then nothing is important. What is the one opportunity to seize or obstacle to overcome that is more important than everything else this year? That is your Priority.

ACTION STEPS Step One: Schedule one-to-two hours with your team to discuss, decide on and commit to achieving the highest priority in the next six to twelve months. Remember to ask for take-aways and commitments at the end of the meeting. Always Always Always book your follow-up meeting by the end of this discussion so you don't lose momentum through time-decay.

Step Two: Leverage Public Praise and Appreciation (Cost = FREE) Look for opportunities to catch and publicly praise individuals and teams for doing the right things to conquer your goal. Expressions of appreciation are the most under-utilized and yet, most powerful methods to building momentum. I have walked into offices where notes of appreciation from the boss have been hung up all over employees cubicles.

Do any of your employees have notes from you displayed? If not, write a few today. Keep them brief but specific. They are game-changers!

Step Three: Display and update a scoreboard. Recently, a client of ours displayed his technicians billable-to-client hours vs the actual worked hours. In only one month, and without changing anything else, overall productivity increased by just over 10%. For a company that has expenses of $100,000 per month, that is a increase in profitability of approximately $10,000...just because they hung up a scoreboard. By the second month, their revenues were up over 20% over last year (in their slow season), because their technicians had more time to service more accounts.

What kind of simple scoreboard can you hang up this week? Make sure it is one that tracks activities employees have control over, and one that tracks the activities that lead to profitability.

Bonus Step: Ask For Help
Every great performer, athlete and leader has coaches in his or her life. Have you gotten so busy that you haven't taken the time to allow someone to pour into you?

No one wants to follow stale leadership.

As a world-class leader, you deserve to have someone encourage you, help you think through the tough stuff, and affirm your gut-feeling regarding difficult decisions. This year, invest in your leadership. You'll be the hero and your team will love you for it!

Your products and services will no longer be just noise in the marketplace, rather doing business with you will be as exciting as attending a great concert!

Additionally, when your financial person tells you about the increase in your bottom-line, it will sound like sweet music to your ears. And business will become fun, again.

Call your Coach at Jazz BC to book a one-on-one coaching meeting today!

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