Ask Go Negosyo - Column by Joey Concepcion (Philippine Star Business Section)
If you are not careful in the negosyo world, a smaller player, who is hungrier and more passionate with an improved business model and better product or service, can change the game. Before you know it, you have just lost the market.
There are stories of underdogs beating market leaders. We mentioned in earlier columns the story of Mang Inasal eating into the market of Jollibee, forcing them to buy Mang Inasal. Our very own Cosmos and Selecta brands are clear examples of underdogs who beat market leaders in the soft drinks and ice cream industry. Similarly, brands like Mekeni and CDO hotdogs, Champion detergent and so many others tell the same story.
Competition does bring out the best in people. It helps us strive to always find ways to reinvent ourselves. Keeping the fire and passion is the key.
Even in the entertainment world, the story of Willie Revillame is quite interesting. It has been about a year now since we met. He invested in a venture I started with my friend Boy Reyno. It was initially challenging to introduce him to groups that come from different social backgrounds. In the end, it turned out quite well. In fact, his introduction to Boy Reyno, who is also a top lawyer who provides legal guidance, eventually came in handy. I remember mentioning to Willie, as I invited him to the group, that you will never know when one of your partners will come to your rescue. At that time, he still had a perfect relationship with ABS-CBN.
Months after, his relationship with ABS started to deteriorate. I just read in the papers that Boy Reyno became Willie’s lawyer and successfully negotiated a deal with TV5. I personally thought that it was a risky move. But, I guess he had no choice, as his future was at stake. The longer he was out of TV, the faster people will forget about him.
From the short time that I got to know Willie, I can say that he is a survivor. Coming from a difficult background, he has a high adversity quotient who knows how to bounce back. He knows his business. Willie clearly has the passion, perseverance and persistence to succeed. He understands his market quite well.
Willie’s show challenges the high-rating shows of ABS-CBN and GMA7. The news programs during primetime are one of the highest rating shows on television. Placing a game show up against news programs is definitely a game changer. Atty. Gozon, who is a trustee and a good friend of Go Negosyo and who propelled the growth of GMA7 when he took over, will definitely not just sit down and watch.
But, I have to say -- Willie knows and understands his market well. He has the passion to be the best in his skills. He also has the strength in building his own brand, which is his name. These are the factors that determine the success and failure of many entrepreneurs. Yes, Willie is an entrepreneur. He also negotiated to be a co-producer of his own show in TV5.
Another game changer is the entry of his new co-host Shalani Soledad, who is of course the former girlfriend of PNoy. What a marketing coup! From nowhere, that “Aha!” idea comes at the best timing. It draws national attention, because everyone wants to know who she is as she has been a mystery to many. For that alone, the ratings will hit the roof. I congratulated Willie for an excellent choice.
I share this story, as the advocacy of Go Negosyo has shown me how many entrepreneurs in this country succeed. Sheer passion, determination and hard work are critical. But, then again, it is always important to strive to be the best in what you do. Always want to do better. This is what we call “reinvention and improvement of business model”. Keep having those “Aha!” moments. Think of new ideas to improve your business model.
The underdog Willie reminds me of other countless entrepreneurs who share the same triumphant experience. The next weeks will be interesting, as the battle of the networks keeps on getting more exciting.
* * * * * * *
Congratulations to our Go Negosyo trustee Myla Villanueva for being recognized as one of “The Outstanding Women in Nation’s Service”. Myla, who is also the Managing Director of MDI Group of Holdings, represented the information and communications technology industry. Congratulations Myla and your Go Negosyo family is proud of you.
We would also like to congratulate Cathy and Mike Turvill. Their Nurture Spa Village in Tagaytay was recently nominated at the Asia Spa Baccarat Awards as Destination Spa of the Year and Spa Retreat of the Year. Your Go Negosyo family wishes you luck. The Turvills would also like to invite everyone to vote for the Philippine Entry to the BBC World Challenge 2010. Our country’s entry is AIDFO – a social enterprise based in Bacolod that shares a technology that brings water to communities. Let us show our support by voting online and sharing this link to our family and friends (http://www.theworldchallenge.co.uk/2010-finalists-project08.php).
The rest of the year is also a very busy time for more of our Go Negosyo entrepreneurs. Tintin Babao will be opening “The Grand Global Exporters and Importers Advanced Christmas Bazaar” on Nov. 17-21 in the World Trade Center. On Nov. 20 at 2-6pm, Go Negosyo will be presenting a live talk show on how to find the right negosyo opportunity. Other Go Negosyo entreps will be there to share their stories and tips.
The husband-and-wife teams of RJ & Vanessa Ledesma, Anton & Rache Diaz, and Gary & Janice Villanueva will also be launching “Mercato Centrale” on Nov. 21. It will be an ongoing weekend lifestyle market at Bonifacio Global City that will provide unique food and an extensive selection of healthy and organic options. It will also serve as an “Entrepreneurship Incubator” for food entrepreneurs, culinary students and student entrepreneurs. The incubator program will include a lecture series, group and/or one-on-one mentorship programs and similar mentor-related activities. Student groups who apply with the approval of their school will get stalls at a discounted rate. For those who are interested to reserve a stall at MERCATO CENTRALE, contact Rache at 09175318949 or rachediaz@gmail.com.
Tuesday, November 30, 2010
Monday, November 29, 2010
Can You Find the Key to Success and Personal Peace in Your Favorite Starbucks Drink?
By Rich Schefren
They're everywhere.
You come into contact with them from the minute you wake up to the minute you go to sleep.
* Your alarm clock, for instance.
* The gas pumps at your local service station.
* Your order at your neighborhood Starbucks.
* Even the clothes you wear, the shopping you do, and the communication tools you use.
All of these - and many more - are systems. Some - like your alarm clock - are very simple. Others - like the gas pumps and your clothing - are complex systems.
Just take a look around, and you'll see that systems and the subsystems they're made of are really all around you.
Take, for example, a simple coffee order. Walk into a Starbucks and you'll see well-designed systems in action. The lattes, espressos, and frappuccinos are made exactly the same every time, from store to store. This is the result of many complex systems, from the laboratories that create the drink mixes... to the trucks that deliver the milk and coffee to the stores... to the cashiers who take your orders... to the baristas who make your drink exactly the way you want .
Those systems result in a practically identical experience - from walking in the door to placing your order to sipping your drink - whether you're in Seattle, Washington or Delray Beach, Florida.
Systems make it easy to produce the same results every time. They're responsible for efficiency... Consistency... And reliability. They exist to achieve a goal: to wake up a sleeping person at 6:00 AM on the dot; to produce the perfect latte every time; to manufacture thousands of identical sweatshirts.
But systems are useful in other ways.
Systems Aren't Just for Starbucks
In fact, adopting a systems perspective can radically improve your personal life!
You see, our lives are composed of countless systems. Taken together, your personal systems add up to you. These systems are the invisible threads that keep the fabric of our lives together. And if there's an outcome we don't want, we can change it by making an adjustment to the system responsible for that outcome.
Imagine for a moment that you could distinctly see each of these personal systems. Then, if you weren't happy with the results an individual system was creating for you, you could pull it out, perfect it, and then place it back where it belongs. Now, imagine you did this for each and every system that comprises your life.
Think about how different your day-to-day experiences would be.
Right now, how would you describe your typical day? Is it a complex mess of events or is it a relaxed sequence of well-planned activities? Are your days chaotic or under control? Do you have enough money? Do you get to spend the time you'd like with friends and family? Does your life seem like an endless race around a circular track, or are you steadily improving - getting better results with each passing day?
Since your life is made up of simple systems, getting what you want out of life is simply a matter of improving your personal systems.
Stated more simply: The essence of your work, health, relationships, and results lies within systems that compose your everyday existence. And your goal is to see life for what it is, a collection of individual systems. With this clarity, you'll be able to extract and perfect each of these systems one by one before reinserting each back into your life.
There are many systems in your life that you've already got down pat. The odds are high that they're efficient and quick because you've already honed them to perfection. You've probably systemized driving a car, checking your email, fixing breakfast, etc.
But there are also many important systems that you probably haven't perfected and you don't have down pat. Systems to stay in shape, systems to keep in touch with friends and family, systems to invest your money, systems that keep you organized, etc.
Personal Systems Put You in Control of Your Life
I believe that if we are to be truly happy, if we're going to experience success and personal peace, we must have control. There's a direct relationship between the happiness we experience and the control we have. And I'm not talking about control over others. I'm talking about the control we have over the trajectory of our lives - where we are headed, and what we experience on our journey.
And you'll have all the control you need when you take control of the systems that make up your life.
Your job is to avoid becoming caught up in the "drama" of your personal life. Instead, you step outside, look down, and isolate individual systems. After deciding what you want the systems to accomplish, you can identify defects. Then you go about improving the dysfunctional systems, before backing off and occasionally (but routinely) monitoring the results and making any necessary adjustments.
What I'm recommending is that you start approaching your personal life the way an engineer approaches systems.
If right now you (or the people around you) would describe yourself as "flaky," then think through what sort of system you would need to return calls promptly, to pay your bills on time, to remember important birthdays and anniversaries, and to make sure you do whatever you promised.
With the right personal systems in place, you'll become consistent and reliable. People will trust you. They'll call you dependable instead of flaky. You'll be seen as someone to have complete confidence in.
Or, if right now you're not as healthy as you'd like to be, think through the systems you'd need to get and stay healthy.
Look, I fully realize when you change a current system or develop a new one you'll often come up against old habits, simple laziness, and procrastination. But by paying attention, great results often come quickly. And with those successes it becomes easier and easier to stay on course and reap the ever-compounding rewards.
A Personal System in Action
For example, awhile back I was disappointed with my personal productivity. When I analyzed the root cause, I became aware that my sleep routine was responsible.
So I went about modifying my sleeping system. The positive effects of this one change spilled over into almost every aspect of my personal life, improving my health subsystem, my family subsystem, and my productivity subsystem.
Before the change, I used to stay up late (sometimes really late) and wake up at a different time each morning. But I realized that my personal productivity plummeted after 9 PM. So I decided to change my sleep schedule (my sleeping subsystem).
Now, I go to bed at 10 PM. And since I only need 6.5 hours of sleep, I wake up every morning (naturally, without an alarm clock) full of energy at 4:30 AM. I'm on the stair machine by 5 - and do an hour on the machine. My two daughters wake up at 6 AM and we play games for an hour, till 7 AM, when my wife Debi wakes up. From that point on, Debi takes over - getting the girls ready for school, making them breakfast, etc...
By 7:15 AM I'm out the door headed for the beach. I arrive at the beach by 7:30 AM. There, I write in my journal for an hour till 8:30 AM. Then I swim in the ocean for 30 minutes, relax for another half hour, and then proceed to the office for our daily 10 AM meeting.
The Life-Changing Power of the System Approach
The reason I'm sharing this with you is this: Ever since I modified my sleep subsystem to this new format I've been sleeping better, feeling better, spending more quality time with my daughters, getting more done, losing weight, and feeling a lot better about myself.
That's the power of the system approach: One small tweak to a single subsystem can radically improve the performance of the entire primary system.
Truth be told, I could write dozens of pages just on personal systems. If I did, I would have a lot more space to share my personal systems and suggestions for how you can immediately dissect your own personal systems and the best approaches to improve them. I may in fact do that in an upcoming report. But for now, realize I've just laid at your feet a real secret of success. Your overall level of happiness can be positively impacted by heeding the advice I just shared with you.
So why not take a moment right now and identify a new or modified personal system that would positively impact your life? For me it was changing the time I went to bed every night, coupled with changes in my morning routine. Now it's your turn...
Identify a systematic change you could make in your life. Implement that change. And watch as it makes a huge positive impact on your personal life.
They're everywhere.
You come into contact with them from the minute you wake up to the minute you go to sleep.
* Your alarm clock, for instance.
* The gas pumps at your local service station.
* Your order at your neighborhood Starbucks.
* Even the clothes you wear, the shopping you do, and the communication tools you use.
All of these - and many more - are systems. Some - like your alarm clock - are very simple. Others - like the gas pumps and your clothing - are complex systems.
Just take a look around, and you'll see that systems and the subsystems they're made of are really all around you.
Take, for example, a simple coffee order. Walk into a Starbucks and you'll see well-designed systems in action. The lattes, espressos, and frappuccinos are made exactly the same every time, from store to store. This is the result of many complex systems, from the laboratories that create the drink mixes... to the trucks that deliver the milk and coffee to the stores... to the cashiers who take your orders... to the baristas who make your drink exactly the way you want .
Those systems result in a practically identical experience - from walking in the door to placing your order to sipping your drink - whether you're in Seattle, Washington or Delray Beach, Florida.
Systems make it easy to produce the same results every time. They're responsible for efficiency... Consistency... And reliability. They exist to achieve a goal: to wake up a sleeping person at 6:00 AM on the dot; to produce the perfect latte every time; to manufacture thousands of identical sweatshirts.
But systems are useful in other ways.
Systems Aren't Just for Starbucks
In fact, adopting a systems perspective can radically improve your personal life!
You see, our lives are composed of countless systems. Taken together, your personal systems add up to you. These systems are the invisible threads that keep the fabric of our lives together. And if there's an outcome we don't want, we can change it by making an adjustment to the system responsible for that outcome.
Imagine for a moment that you could distinctly see each of these personal systems. Then, if you weren't happy with the results an individual system was creating for you, you could pull it out, perfect it, and then place it back where it belongs. Now, imagine you did this for each and every system that comprises your life.
Think about how different your day-to-day experiences would be.
Right now, how would you describe your typical day? Is it a complex mess of events or is it a relaxed sequence of well-planned activities? Are your days chaotic or under control? Do you have enough money? Do you get to spend the time you'd like with friends and family? Does your life seem like an endless race around a circular track, or are you steadily improving - getting better results with each passing day?
Since your life is made up of simple systems, getting what you want out of life is simply a matter of improving your personal systems.
Stated more simply: The essence of your work, health, relationships, and results lies within systems that compose your everyday existence. And your goal is to see life for what it is, a collection of individual systems. With this clarity, you'll be able to extract and perfect each of these systems one by one before reinserting each back into your life.
There are many systems in your life that you've already got down pat. The odds are high that they're efficient and quick because you've already honed them to perfection. You've probably systemized driving a car, checking your email, fixing breakfast, etc.
But there are also many important systems that you probably haven't perfected and you don't have down pat. Systems to stay in shape, systems to keep in touch with friends and family, systems to invest your money, systems that keep you organized, etc.
Personal Systems Put You in Control of Your Life
I believe that if we are to be truly happy, if we're going to experience success and personal peace, we must have control. There's a direct relationship between the happiness we experience and the control we have. And I'm not talking about control over others. I'm talking about the control we have over the trajectory of our lives - where we are headed, and what we experience on our journey.
And you'll have all the control you need when you take control of the systems that make up your life.
Your job is to avoid becoming caught up in the "drama" of your personal life. Instead, you step outside, look down, and isolate individual systems. After deciding what you want the systems to accomplish, you can identify defects. Then you go about improving the dysfunctional systems, before backing off and occasionally (but routinely) monitoring the results and making any necessary adjustments.
What I'm recommending is that you start approaching your personal life the way an engineer approaches systems.
If right now you (or the people around you) would describe yourself as "flaky," then think through what sort of system you would need to return calls promptly, to pay your bills on time, to remember important birthdays and anniversaries, and to make sure you do whatever you promised.
With the right personal systems in place, you'll become consistent and reliable. People will trust you. They'll call you dependable instead of flaky. You'll be seen as someone to have complete confidence in.
Or, if right now you're not as healthy as you'd like to be, think through the systems you'd need to get and stay healthy.
Look, I fully realize when you change a current system or develop a new one you'll often come up against old habits, simple laziness, and procrastination. But by paying attention, great results often come quickly. And with those successes it becomes easier and easier to stay on course and reap the ever-compounding rewards.
A Personal System in Action
For example, awhile back I was disappointed with my personal productivity. When I analyzed the root cause, I became aware that my sleep routine was responsible.
So I went about modifying my sleeping system. The positive effects of this one change spilled over into almost every aspect of my personal life, improving my health subsystem, my family subsystem, and my productivity subsystem.
Before the change, I used to stay up late (sometimes really late) and wake up at a different time each morning. But I realized that my personal productivity plummeted after 9 PM. So I decided to change my sleep schedule (my sleeping subsystem).
Now, I go to bed at 10 PM. And since I only need 6.5 hours of sleep, I wake up every morning (naturally, without an alarm clock) full of energy at 4:30 AM. I'm on the stair machine by 5 - and do an hour on the machine. My two daughters wake up at 6 AM and we play games for an hour, till 7 AM, when my wife Debi wakes up. From that point on, Debi takes over - getting the girls ready for school, making them breakfast, etc...
By 7:15 AM I'm out the door headed for the beach. I arrive at the beach by 7:30 AM. There, I write in my journal for an hour till 8:30 AM. Then I swim in the ocean for 30 minutes, relax for another half hour, and then proceed to the office for our daily 10 AM meeting.
The Life-Changing Power of the System Approach
The reason I'm sharing this with you is this: Ever since I modified my sleep subsystem to this new format I've been sleeping better, feeling better, spending more quality time with my daughters, getting more done, losing weight, and feeling a lot better about myself.
That's the power of the system approach: One small tweak to a single subsystem can radically improve the performance of the entire primary system.
Truth be told, I could write dozens of pages just on personal systems. If I did, I would have a lot more space to share my personal systems and suggestions for how you can immediately dissect your own personal systems and the best approaches to improve them. I may in fact do that in an upcoming report. But for now, realize I've just laid at your feet a real secret of success. Your overall level of happiness can be positively impacted by heeding the advice I just shared with you.
So why not take a moment right now and identify a new or modified personal system that would positively impact your life? For me it was changing the time I went to bed every night, coupled with changes in my morning routine. Now it's your turn...
Identify a systematic change you could make in your life. Implement that change. And watch as it makes a huge positive impact on your personal life.
Monday, November 22, 2010
BANK ACCOUNT!
This is AWESOME ... something we should all remember.
A 92-year-old, petite, well-poised and proud man, who is fully dressed each
morning by eight o'clock, with his hair fashionably combed and shaved
perfectly, even though he is legally blind, moved to a nursing home today.
His wife of 70 years recently passed away, making the move necessary. After
many hours of waiting patiently in the lobby of the nursing home, he smiled
sweetly when told his room was ready.
As he maneuvered his walker to the elevator, I provided a visual description
of his tiny room, including the eyelet sheets that had been hung on his window.
I love it,' he stated with the enthusiasm of an eight-year-old having just
been presented with a new puppy.
Mr. Jones, you haven't seen the room; just wait.'
'That doesn't have anything to do with it,' he replied.
Happiness is something you decide on ahead of time.
Whether I like my room or not doesn't depend on how the furniture is
arranged ... it's how I arrange my mind. I already decided to love it.
'It's a decision I make every morning when I wake up. I have a choice;
I can spend the day in bed recounting the difficulty I have with the
parts of my body that no longer work, or get out of bed and be thankful
for the ones that do.
Each day is a gift, and as long as my eyes open, I'll focus on the new day
and all the happy memories I've stored away.. Just for this time in my life.
Old age is like a bank account. You withdraw from what you've put in.
So, my advice to you would be to deposit a lot of happiness in the bank
account of memories!
Thank you for your part in filling my Memory Bank.
I am still depositing.
'Remember the five simple rules to be happy:
1. Free your heart from hatred.
2. Free your mind from worries.
3. Live simply.
4. Give more.
5. Expect less.
A 92-year-old, petite, well-poised and proud man, who is fully dressed each
morning by eight o'clock, with his hair fashionably combed and shaved
perfectly, even though he is legally blind, moved to a nursing home today.
His wife of 70 years recently passed away, making the move necessary. After
many hours of waiting patiently in the lobby of the nursing home, he smiled
sweetly when told his room was ready.
As he maneuvered his walker to the elevator, I provided a visual description
of his tiny room, including the eyelet sheets that had been hung on his window.
I love it,' he stated with the enthusiasm of an eight-year-old having just
been presented with a new puppy.
Mr. Jones, you haven't seen the room; just wait.'
'That doesn't have anything to do with it,' he replied.
Happiness is something you decide on ahead of time.
Whether I like my room or not doesn't depend on how the furniture is
arranged ... it's how I arrange my mind. I already decided to love it.
'It's a decision I make every morning when I wake up. I have a choice;
I can spend the day in bed recounting the difficulty I have with the
parts of my body that no longer work, or get out of bed and be thankful
for the ones that do.
Each day is a gift, and as long as my eyes open, I'll focus on the new day
and all the happy memories I've stored away.. Just for this time in my life.
Old age is like a bank account. You withdraw from what you've put in.
So, my advice to you would be to deposit a lot of happiness in the bank
account of memories!
Thank you for your part in filling my Memory Bank.
I am still depositing.
'Remember the five simple rules to be happy:
1. Free your heart from hatred.
2. Free your mind from worries.
3. Live simply.
4. Give more.
5. Expect less.
LASER LIGHT SHOW AT THE *LAST* MONEY MAGNET SEMINAR!
LASER LIGHT SHOW AT THE *LAST* MONEY MAGNET SEMINAR!
For the first time ever, we will be having a grand laser light show (courtesy of Argon Animation Inc.) for the last Money Magnet seminar of 2010 happening this Nov 27 (Sat), 8 am to 6 pm, at the SMX Convention Center, Mall of Asia.
You, your family and friends are invited to attend:
How to Become a Money Magnet Comprehensive Seminar
WHAT YOU'LL DISCOVER:
* The ultimate secret to wealth creation
* How to have a multi-millionaire mindset
* How to manage and grow your money
DATE: November 27, 2010 (Saturday)
TIME: 8 AM TO 6 PM
VENUE: SMX Convention Center, SM Mall of Asia Complex, Pasay City
For inquiries: Call 382-99-97 / 748-7646 or text 0905-2245908
TICKET PRICE: was P8,000 now FREE
Only P250.00* only to cover workshop materials and processing.
>> SM TICKETS: Tickets are available at all SM Cinema ticketbooths at all SM Malls nationwide. To reserve tickets, you may call SM Tickets at 470-2222.
>> TICKETWORLD: Tickets are also now available at all TicketWorld outlets: Ayala Malls (Glorietta, Greenbelt, Trinoma), Robinson's Department Stores, Selected National Bookstores and Music Museum. For reservations and inquiries call 891-9999 or buy online at www.ticketworld.com.ph
*Inclusive of workbook, pen and certificate of completion
*Meals not included
www.MoneyMagnetSeminar.com
ADD US ON FACEBOOK
John Calub Fan Page:
http://www.facebook.com/pages/John-Calub/118533838163379
Success TV Fan Page (This is my TV Show in RHTV)
http://www.facebook.com/pages/Success-TV/101129489949805
For the first time ever, we will be having a grand laser light show (courtesy of Argon Animation Inc.) for the last Money Magnet seminar of 2010 happening this Nov 27 (Sat), 8 am to 6 pm, at the SMX Convention Center, Mall of Asia.
You, your family and friends are invited to attend:
How to Become a Money Magnet Comprehensive Seminar
WHAT YOU'LL DISCOVER:
* The ultimate secret to wealth creation
* How to have a multi-millionaire mindset
* How to manage and grow your money
DATE: November 27, 2010 (Saturday)
TIME: 8 AM TO 6 PM
VENUE: SMX Convention Center, SM Mall of Asia Complex, Pasay City
For inquiries: Call 382-99-97 / 748-7646 or text 0905-2245908
TICKET PRICE: was P8,000 now FREE
Only P250.00* only to cover workshop materials and processing.
>> SM TICKETS: Tickets are available at all SM Cinema ticketbooths at all SM Malls nationwide. To reserve tickets, you may call SM Tickets at 470-2222.
>> TICKETWORLD: Tickets are also now available at all TicketWorld outlets: Ayala Malls (Glorietta, Greenbelt, Trinoma), Robinson's Department Stores, Selected National Bookstores and Music Museum. For reservations and inquiries call 891-9999 or buy online at www.ticketworld.com.ph
*Inclusive of workbook, pen and certificate of completion
*Meals not included
www.MoneyMagnetSeminar.com
ADD US ON FACEBOOK
John Calub Fan Page:
http://www.facebook.com/pages/John-Calub/118533838163379
Success TV Fan Page (This is my TV Show in RHTV)
http://www.facebook.com/pages/Success-TV/101129489949805
Sunday, November 14, 2010
One Step Ahead: Get 110% Out of Every Employee
How to Get All Your Employees to Work Harder and More Efficiently and Devote 110% of Their Energy to Your Business
By Rich Schefren
As a business owner, it's easy for you to approach each new day with a sense of purpose. (At least, it should be!)
That's because you're building something of value; an asset; something that will become bigger than you are.
But have you ever thought about your employees? When they arrive at work each day, what - other than a paycheck - do they have to look forward to?
Fact #1 - The overwhelming majority of employees do not give their work 100% each day. That's not because they're bad people or lazy... It's simply because they aren't motivated to do their best each and every day.
Fact #2 - By giving your employees a bigger purpose... A better reason to contribute... A compelling reason to give their work everything they've got each day... You give your business a huge advantage over every other business you will ever compete with.
You see, at the end of the day, work and career can and should be much more than receiving money for services rendered. It's about feeling fulfilled; feeling good; knowing that you're making a difference, that what you do matters.
Everyone on this planet - including your employees - wants to feel that she's a part of something bigger than herself. That at the end of the day she did more than simply put in her time. It's much more fun and meaningful to be part of something big.
That's where your Core Myth comes in.
Your Core Myth is a story that defines what your business is all about. It's a story of passion, motivation, and the overcoming of obstacles. It's the narrative of what sets your business apart from all the rest. In other words it shows what makes your business unique and what differentiates it from the rest of your market.
This story takes on the role of a legend in the hearts and minds of your customers and employees. It clarifies the meaning and significance of the work being done inside your business. And it shows how your purpose and promise affects the daily lives of your team members.
Best of all, your Core Myth gives everyone who associates with your business a rallying cry that screams "This Business Is Different!"
It is THE story behind all the beliefs you want to reside in the minds of your team, customers, and marketplace.
Once you've completed your Core Myth, you'll want to expose it to as many people as possible, as frequently as possible, in as many different places as possible.
The first group of people you'll want to indoctrinate with your Core Myth is your business team.
Getting Your Core Myth into the Minds and Hearts of Your Team
This is your chance to turn your business into a big, worthwhile cause that your team can take on. Giving them purpose, meaning, and a greater sense of self... while creating a team that'll go the distance and invest every last ounce of effort they have in seeing your business succeed.
You can achieve this by giving your employees multiple exposures to your Core Myth. It's "spaced-repetition" that will drive the story and the beliefs deeper and deeper into the psyche of your team members.
I'll explain the easiest approach to achieve these multiple exposures in a moment. Keep in mind that your approach will be different for current and future team members.
First, let's cover how best to introduce your Core Myth to your team...
Get Current Team Members on the Same Page
The best way to roll out your Core Myth with your team is to call a meeting. Hand it out and tell everyone you wanted to tell them the story of how your business came into being.
Explain that the Core Myth is important:
* in order for your business to grow and have the impact you know it can have...
* to confirm the importance of the work your business is doing...
* and to recommit to the values and the mission of what your business was originally formed to accomplish.
Arrange for a follow-up meeting a few days later. Ask everyone to have read your Core Myth by then and to come to the meeting with critiques on how it can be improved.
After that meeting, arrange a follow-up meeting for several days after you've completed the revised edition. Tell them to read it again and come to this meeting with a minimum of three ideas for how to share it with your customers.
Remember the goal here is spaced repetition. So the more ways you can have them read and review it, the more powerful it will be.
Now that you've exposed your team to your Core Myth, you need to activate those beliefs.
Activation occurs when you get your team members fully engaged in the Core Myth. This is achieved by having them either create derivative works of the Core Myth, or centering contests on it.
Activation Through Engagement
While the possibilities are endless, for both contests and derivatives, these should get you started...
Derivatives:
Derivative works are creations based on your Core Myth. Basically they could be anything. But in order for your business to extract the maximum value, it's best to have the derivative work done in the staff member's area of specialty.
For example...
* Copywriters could write a more compelling version of your Core Myth...
* Graphic designers could create a visual for the cover, add visuals to the story, or turn your entire Core Myth into a comic book...
* SEO specialists could pick the best keywords for the Core Myth and then create and optimize pages to offer it as a download...
* Customer support staff could create clever sound bites to share elements of the Core Myth with customers...
* A/V experts could turn your Core Myth into a video series...
* HTML pros could create special pages and break up the core myth on those pages to best engage site visitors...
The sky is the limit!
Contests:
1. Write their stories - Have each team member write the story of what led him to your business. Tell him to study your story a few times.
2. Spreading the message - Have each team member submit three unique ideas on how best to get your Core Myth out into the marketplace. Then have the entire team vote on which idea is the best one, award a prize, and then have the entire team execute the winning submission.
3. The best title - Have each team member come up with a title for your Core Myth. Since a book's sales are often determined by its title, have each team member pretend she's a big shot publisher and she needs to come up with a title for your Core Myth that'll spark sales. Then give a prize to the winner.
4. The annual award - Schedule a team meeting. Have everyone review your Core Myth the day before the meeting. Then collectively determine criteria for an annual award for the team member that best exemplifies the spirit of your Core Myth. Then once a year, have everyone cast by secret ballot who they believe should win.
5. The best derivative work - Give each team member the assignment of creating a derivative work based on their skill set and then have the entire team vote on the winner.
The whole purpose of these contests and derivatives is to drive engagement by having your team study your Core Myth carefully enough to thoughtfully apply it in some other capacity.
Indoctrinate New Team Members at the Jump
When your Core Myth is in place, it can serve as powerful tool to get new employees started on the right foot with your company. Remember, it's a primary need of all human beings to want to belong to something bigger than ourselves. So, you can convey that working for your company is a chance to belong, a chance to make a difference, and a chance to really matter.
Here's one "spaced repetition" approach to exposing your new employees to your Core Myth.
Step #1 - Send your Core Myth to all job applicants with a cover letter stating that your business is a special place with a special objective. Ask them to read it - and email back their thoughts.
Step #2 - If they've passed the application process, ask them to read it again before you interview them because you'll want to ask them a few questions about it.
Step #3 - Have new employees read the Core Myth again on their first day. Afterward, have a meeting with them to discuss what they've learned about your business's purpose, promise, and values. Then ask them to take the next two weeks (during the course of their day-to-day activities) to spot any opportunities the business has to better live up to them.
Step #4 - Two weeks later, have a follow-up meeting to discuss any areas of the business that could be tweaked to better align with the Core Myth. End the meeting with another assignment: Ask the employee to come up with at least three ideas over the following two weeks for how the company could get more customers and prospects to know the Core Myth. Arrange another meeting two weeks later.
Step #5 - Two weeks later, meet with the employee again to discuss his ideas. If any of the ideas show potential, execute them. If none of them do, explain why.
After that, plug the new employee into the normal activities you are doing with the rest of your team to keep your Core Myth alive.
Getting Your Employees on Board to Help Your Business Grow
By getting team members to interact with your Core Myth and make parts of it their own, they'll personalize it... And it will have greater meaning for them in their professional and personal lives.
Indoctrinating your employees with your Core Myth will help everyone who works in you form a deep bond with your business. Not only will they believe fully in what your business is doing... They will derive great purpose and fulfillment from their jobs... They'll work harder and more efficiently... And they'll help your business grow into a successful company that you can be immensely proud of.
By Rich Schefren
As a business owner, it's easy for you to approach each new day with a sense of purpose. (At least, it should be!)
That's because you're building something of value; an asset; something that will become bigger than you are.
But have you ever thought about your employees? When they arrive at work each day, what - other than a paycheck - do they have to look forward to?
Fact #1 - The overwhelming majority of employees do not give their work 100% each day. That's not because they're bad people or lazy... It's simply because they aren't motivated to do their best each and every day.
Fact #2 - By giving your employees a bigger purpose... A better reason to contribute... A compelling reason to give their work everything they've got each day... You give your business a huge advantage over every other business you will ever compete with.
You see, at the end of the day, work and career can and should be much more than receiving money for services rendered. It's about feeling fulfilled; feeling good; knowing that you're making a difference, that what you do matters.
Everyone on this planet - including your employees - wants to feel that she's a part of something bigger than herself. That at the end of the day she did more than simply put in her time. It's much more fun and meaningful to be part of something big.
That's where your Core Myth comes in.
Your Core Myth is a story that defines what your business is all about. It's a story of passion, motivation, and the overcoming of obstacles. It's the narrative of what sets your business apart from all the rest. In other words it shows what makes your business unique and what differentiates it from the rest of your market.
This story takes on the role of a legend in the hearts and minds of your customers and employees. It clarifies the meaning and significance of the work being done inside your business. And it shows how your purpose and promise affects the daily lives of your team members.
Best of all, your Core Myth gives everyone who associates with your business a rallying cry that screams "This Business Is Different!"
It is THE story behind all the beliefs you want to reside in the minds of your team, customers, and marketplace.
Once you've completed your Core Myth, you'll want to expose it to as many people as possible, as frequently as possible, in as many different places as possible.
The first group of people you'll want to indoctrinate with your Core Myth is your business team.
Getting Your Core Myth into the Minds and Hearts of Your Team
This is your chance to turn your business into a big, worthwhile cause that your team can take on. Giving them purpose, meaning, and a greater sense of self... while creating a team that'll go the distance and invest every last ounce of effort they have in seeing your business succeed.
You can achieve this by giving your employees multiple exposures to your Core Myth. It's "spaced-repetition" that will drive the story and the beliefs deeper and deeper into the psyche of your team members.
I'll explain the easiest approach to achieve these multiple exposures in a moment. Keep in mind that your approach will be different for current and future team members.
First, let's cover how best to introduce your Core Myth to your team...
Get Current Team Members on the Same Page
The best way to roll out your Core Myth with your team is to call a meeting. Hand it out and tell everyone you wanted to tell them the story of how your business came into being.
Explain that the Core Myth is important:
* in order for your business to grow and have the impact you know it can have...
* to confirm the importance of the work your business is doing...
* and to recommit to the values and the mission of what your business was originally formed to accomplish.
Arrange for a follow-up meeting a few days later. Ask everyone to have read your Core Myth by then and to come to the meeting with critiques on how it can be improved.
After that meeting, arrange a follow-up meeting for several days after you've completed the revised edition. Tell them to read it again and come to this meeting with a minimum of three ideas for how to share it with your customers.
Remember the goal here is spaced repetition. So the more ways you can have them read and review it, the more powerful it will be.
Now that you've exposed your team to your Core Myth, you need to activate those beliefs.
Activation occurs when you get your team members fully engaged in the Core Myth. This is achieved by having them either create derivative works of the Core Myth, or centering contests on it.
Activation Through Engagement
While the possibilities are endless, for both contests and derivatives, these should get you started...
Derivatives:
Derivative works are creations based on your Core Myth. Basically they could be anything. But in order for your business to extract the maximum value, it's best to have the derivative work done in the staff member's area of specialty.
For example...
* Copywriters could write a more compelling version of your Core Myth...
* Graphic designers could create a visual for the cover, add visuals to the story, or turn your entire Core Myth into a comic book...
* SEO specialists could pick the best keywords for the Core Myth and then create and optimize pages to offer it as a download...
* Customer support staff could create clever sound bites to share elements of the Core Myth with customers...
* A/V experts could turn your Core Myth into a video series...
* HTML pros could create special pages and break up the core myth on those pages to best engage site visitors...
The sky is the limit!
Contests:
1. Write their stories - Have each team member write the story of what led him to your business. Tell him to study your story a few times.
2. Spreading the message - Have each team member submit three unique ideas on how best to get your Core Myth out into the marketplace. Then have the entire team vote on which idea is the best one, award a prize, and then have the entire team execute the winning submission.
3. The best title - Have each team member come up with a title for your Core Myth. Since a book's sales are often determined by its title, have each team member pretend she's a big shot publisher and she needs to come up with a title for your Core Myth that'll spark sales. Then give a prize to the winner.
4. The annual award - Schedule a team meeting. Have everyone review your Core Myth the day before the meeting. Then collectively determine criteria for an annual award for the team member that best exemplifies the spirit of your Core Myth. Then once a year, have everyone cast by secret ballot who they believe should win.
5. The best derivative work - Give each team member the assignment of creating a derivative work based on their skill set and then have the entire team vote on the winner.
The whole purpose of these contests and derivatives is to drive engagement by having your team study your Core Myth carefully enough to thoughtfully apply it in some other capacity.
Indoctrinate New Team Members at the Jump
When your Core Myth is in place, it can serve as powerful tool to get new employees started on the right foot with your company. Remember, it's a primary need of all human beings to want to belong to something bigger than ourselves. So, you can convey that working for your company is a chance to belong, a chance to make a difference, and a chance to really matter.
Here's one "spaced repetition" approach to exposing your new employees to your Core Myth.
Step #1 - Send your Core Myth to all job applicants with a cover letter stating that your business is a special place with a special objective. Ask them to read it - and email back their thoughts.
Step #2 - If they've passed the application process, ask them to read it again before you interview them because you'll want to ask them a few questions about it.
Step #3 - Have new employees read the Core Myth again on their first day. Afterward, have a meeting with them to discuss what they've learned about your business's purpose, promise, and values. Then ask them to take the next two weeks (during the course of their day-to-day activities) to spot any opportunities the business has to better live up to them.
Step #4 - Two weeks later, have a follow-up meeting to discuss any areas of the business that could be tweaked to better align with the Core Myth. End the meeting with another assignment: Ask the employee to come up with at least three ideas over the following two weeks for how the company could get more customers and prospects to know the Core Myth. Arrange another meeting two weeks later.
Step #5 - Two weeks later, meet with the employee again to discuss his ideas. If any of the ideas show potential, execute them. If none of them do, explain why.
After that, plug the new employee into the normal activities you are doing with the rest of your team to keep your Core Myth alive.
Getting Your Employees on Board to Help Your Business Grow
By getting team members to interact with your Core Myth and make parts of it their own, they'll personalize it... And it will have greater meaning for them in their professional and personal lives.
Indoctrinating your employees with your Core Myth will help everyone who works in you form a deep bond with your business. Not only will they believe fully in what your business is doing... They will derive great purpose and fulfillment from their jobs... They'll work harder and more efficiently... And they'll help your business grow into a successful company that you can be immensely proud of.
Wednesday, November 3, 2010
One Step Ahead: What's your purpose?
When starting and building an online business, clarity of purpose is of utmost importance. Are you completely clear about what your business is designed to achieve? How it will operate? And who your customers will be?
Well in today's One Step Ahead, you will discover the true purpose of your business, your products, and YOU as the business owner.
A few issues ago, we talked about you creating your ideal life. And that specific intent and purpose are necessary to avoid frustration and disappointment.
This time we're talking about the Ultimate Purpose of Your Business. Because you can't build the business that will create your ideal life, if you have not clearly defined its purpose.
It is essential that the questions I presented above be answered BEFORE a business is launched. And when launching your business, with clarity of purpose, it is likely that you'll have some additional questions, like the one we discuss in this week's Reader Q&A Session below.
Specifically, how to go about hiring your first employee. So that person will help your business grow, instead of holding you back.
To higher profits,
Rich
The Ultimate Purpose of Your Business
By Rich Schefren
Before you can design your business, you must be able to define the overarching purpose for your business's existence.
Without a purpose, you can't know (nor can anyone who works for you) what your business is striving to achieve, or why it even exists in the first place. And when a business operates without this understanding, the business can't help but struggle.
In a purposeless business, everything feels chaotic, harried, unclear, and even meaningless. Meetings can go on for hours with endless. Decisions are seemingly arbitrary. Everyone has an opinion but no one has the final word. Your team members wander around with no clear goals and no set path to follow.
Without a clearly-defined purpose in place, seeing the way forward is a real challenge.
A Purpose Stacks the Odds in Your Favor
The probability that your business will succeed skyrockets when you have a clearly-articulated purpose. That's because:
1. Purpose improves your performance - When you are clear about the primary purpose behind the time and energy you spend working on your business, it will drive everything you do. Your productivity will soar because you'll have criteria to judge the effectiveness of everything you undertake.
2. Purpose draws A-player employees and outsourcers - Humans are a passionate species. We want to engage in meaningful work. Yet most businesses are completely devoid of meaning. So when your business actively cultivates and communicates its purpose, the best employees, partners, and vendors want to work for and with you because you provide meaning to their lives.
3. Purpose deepens employee engagement and increases their commitment - When your business provides employees with meaningful work, plus something to believe in, your business benefits from highly-engaged, passionate team members who are in it for more than just a paycheck. Better yet, employees who work in the service of something they feel true devotion to will bring the most energy and vitality to what they do. Work is no longer a 9 to 5 job to be endured... but a source of fulfillment and satisfaction. And if your business faces a difficult, seemingly impossible challenge, it'll be your business purpose that'll tap into the hearts and minds of your team to make the impossible possible.
4. Purpose provides a road map for your team so your business doesn't get off track - You want to build a business that continues to grow without your direct involvement. For that to happen, everyone needs to know your purpose. A strong sense of purpose keeps everyone on track. It also provides the roadmap your team can use to chart their course. It ensures that everyone stays on track and your business doesn't end up in a ditch, stalled out with everyone confused as to how the business got there.
5. Purpose drives successful innovation - Innovation for innovation's sake often results in a lot of wasted time and energy. But innovation designed to facilitate your business purpose is where meaningful progress is made. With a clear purpose, you'll be able to drive innovation in a constructive and meaningful way.
6. Purpose gives your business flexibility - Products, services, and practically everything else in your business will eventually change. The only thing that won't change is your purpose - but how you go about achieving it is always subject to change. By clearly defining your purpose you'll know when it's time to shift direction, change what you offer, or anything else.
7. Purpose builds your brand - By clearly and consistently communicating your purpose to your prospects, customers, and the world, you tell the world how to label and position your company. Over time, this repetition will create a brand in the minds of those who matter most to you.
8. Purpose leads to personal fulfillment and happiness - With a clear purpose, you end up feeling good about what you're doing because you're clear about how it moves your business forward. You're excited to get up in the morning because you have something big to shoot for.
Defining your purpose gives your business a reason for existing that goes beyond making money... Yet it almost always results in making more money than you ever thought possible.
When you design your business to fulfill a purpose, it will drive the business and ensure that something remarkable happens with your product or service. Purpose starts with the leaders, works its way through everyone in your business, and finds its way into the products, services, experiences, and, ultimately, into the marketing.
Companies You Know
Before we start digging to discover your business purpose, let's look at some familiar companies and their purposes.
* Google - To organize the world's information and make it universally accessible and useful.
* Facebook - To give people the power to share and make the world more open and connected.
* Wal-Mart - To save people money so they can live better.
* Disney - To keep the magic of childhood alive.
* Strategic Profits - To guide, advise, and nurture entrepreneurs to work less and make more while building the business of their dreams.
Discovering Your Business Purpose
Defining your business purpose helps you create a company that is capable of making a difference, making money, and - with a little luck - making history.
To discover your business purpose you must start with your customer. You need to find a deep-seated, unmet need that you're passionate about fulfilling in some unique way. Take a good hard look at the people you are trying to serve and find something thrilling to do for them.
The pursuit begins with a question: what do people need or want that we have (or could create) that no one else is offering them?
You always define your purpose from the point of view of your customers. In other words:
* What your products or services do for your customers...
* The effects your products or services have on the lives and work of your customers...
* The specific benefits your customers enjoy from using your products or services...
Think about a business that has a purpose based on detailed research of their market and customers. A purpose that's sure to fill a real need in the marketplace. Doesn't it make sense that a business designed this way has a much higher chance of success?
Your purpose has the greatest chance of success if it removes a pain, frustration, or challenge... In other words, if your purpose addresses or resolves a negative in the lives of your prospects and customers.
People spend an enormous amount of money, time, and energy avoiding pain. They avoid confronting neighbors, bosses, or spouses to avoid emotional pain. They gulp mountains of drugs to suppress physical pain. And they shell out good money on products that make their lives easier, happier, or better.
Short But Long Lasting
You should be able to articulate your business purpose succinctly, in one or two sentences. It should be broad, fundamental, inspirational, and enduring.
Don't confuse purpose (which should last at least 100 years) with specific goals or business strategies (which should change many times in 100 years).
Remember: you might achieve a goal or complete a strategy, but you cannot fulfill your purpose. Think of it as a guiding star on the horizon that lights your path from afar.
Your purpose doesn't need to be unique. The primary role of purpose is to guide and inspire; it's not a differentiating factor. It's entirely possible (although not probable) for two companies to have the same purpose.
Asking Why to Find Your Purpose
A powerful yet easy method for getting at your business purpose is the "Five Whys." You start with a descriptive statement, "We make X products" or "We deliver X service" and then ask, "Why is that important?" five times. After a few whys, you'll get down to the fundamental purpose of your business.
For example, let's take a look at Strategic Profits...
What does your business provide?
We provide products and programs to help entrepreneurs grow their businesses faster while working less.
Why is that important?
Entrepreneurs are the lifeblood of the economy and most are unprepared for properly navigating their businesses.
Why is that important?
Without proper training, the entrepreneurs' workload skyrockets while their overall chances of success plummets.
Why is that important?
The entrepreneur ends up sacrificing friends, family, and fun for marginal profits at best, bankruptcy at worst.
Why is that important?
For most small business owners, the American dream quickly turns into a nightmare destroying their families and finances in one fell swoop.
Why is that important?
When a business succeeds (the right way) everyone benefits - the owner and her family, the employees and their families, the businesses that supply her, and the customers that buy from her.
What would the world lose if my business ceased to exist?
A beacon of hope, freedom, and success for entrepreneurs worldwide.
So, Strategic Profits purpose is:
To guide, advise, and nurture entrepreneurs to work less and make more while building the business of their dreams.
Okay, now it's your turn. Answer the following questions to get at your business purpose:
* What does your business provide?
* Why is that important?
* Why is that important?
* Why is that important?
* Why is that important?
* Why is that important?
* What would the world lose if we ceased to exist?
Once you know why your business exists and what it has to offer, you and everyone you work with will be able to move forward with a clear direction. And that almost guarantees more money in your pocket.
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Today's Question and Answer with Rich
Question: Hi, Rich. Thank you for all you do. Since I started following your advice, my business has been growing. Now I am ready to hire my first full time employee to help my business grow. But I am not sure who it should be. Any advice? Keep up the good work, from Sarah.
Rich's Answer: Great question Sarah. Who you hire for your first employee is a critical decision in a small but growing business. Hire the right person and your growth will greatly accelerate. But, hire the wrong person and it can set you and your business way back. So here's my advice...
In order to hire the employee that'll help you grow your business the most, you must first know the answer to this question:
Based on where your business is today, which would most quickly grow your business more?
(1) If you had more time yourself to do what you're already doing to bring in revenue...
or (2) If you're business possessed certain skills that you either don't have or are not that skilled at.
Here's why your answer to this question is vital to making the right hiring move.
If your answer is (1) then you need to look at your schedule, and identify the biggest uses of your time that are not revenue generating. Then hire someone to take over those activities, so you can spend a lot more time on the activities you do that generate income.
If your answer was (2) then you need to identify those specific skills that would grow your business and begin searching for an employee that has those skills.
To give you greater perspective, when I first started coaching online entrepreneurs, my answer to the above question was (1) so I hired a cracker jack assistant named Sheila who took so much off my plate I was able to quickly double the business.
But as soon as business doubled, the answer to the question was (2) because I didn't have the technical knowledge to do too many things I was certain would grow my business. So my second hire was Dan, who knew both marketing and had the technical abilities I lacked.
With just Dan and Sheila business soared. Within 12 months sales had grown by a factor of 10. And so had my personal income!
Congratulations on your success Sarah. If you choose right, get ready to be much more successful.
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It could be answered right here, in One Step Ahead!
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Well in today's One Step Ahead, you will discover the true purpose of your business, your products, and YOU as the business owner.
A few issues ago, we talked about you creating your ideal life. And that specific intent and purpose are necessary to avoid frustration and disappointment.
This time we're talking about the Ultimate Purpose of Your Business. Because you can't build the business that will create your ideal life, if you have not clearly defined its purpose.
It is essential that the questions I presented above be answered BEFORE a business is launched. And when launching your business, with clarity of purpose, it is likely that you'll have some additional questions, like the one we discuss in this week's Reader Q&A Session below.
Specifically, how to go about hiring your first employee. So that person will help your business grow, instead of holding you back.
To higher profits,
Rich
The Ultimate Purpose of Your Business
By Rich Schefren
Before you can design your business, you must be able to define the overarching purpose for your business's existence.
Without a purpose, you can't know (nor can anyone who works for you) what your business is striving to achieve, or why it even exists in the first place. And when a business operates without this understanding, the business can't help but struggle.
In a purposeless business, everything feels chaotic, harried, unclear, and even meaningless. Meetings can go on for hours with endless. Decisions are seemingly arbitrary. Everyone has an opinion but no one has the final word. Your team members wander around with no clear goals and no set path to follow.
Without a clearly-defined purpose in place, seeing the way forward is a real challenge.
A Purpose Stacks the Odds in Your Favor
The probability that your business will succeed skyrockets when you have a clearly-articulated purpose. That's because:
1. Purpose improves your performance - When you are clear about the primary purpose behind the time and energy you spend working on your business, it will drive everything you do. Your productivity will soar because you'll have criteria to judge the effectiveness of everything you undertake.
2. Purpose draws A-player employees and outsourcers - Humans are a passionate species. We want to engage in meaningful work. Yet most businesses are completely devoid of meaning. So when your business actively cultivates and communicates its purpose, the best employees, partners, and vendors want to work for and with you because you provide meaning to their lives.
3. Purpose deepens employee engagement and increases their commitment - When your business provides employees with meaningful work, plus something to believe in, your business benefits from highly-engaged, passionate team members who are in it for more than just a paycheck. Better yet, employees who work in the service of something they feel true devotion to will bring the most energy and vitality to what they do. Work is no longer a 9 to 5 job to be endured... but a source of fulfillment and satisfaction. And if your business faces a difficult, seemingly impossible challenge, it'll be your business purpose that'll tap into the hearts and minds of your team to make the impossible possible.
4. Purpose provides a road map for your team so your business doesn't get off track - You want to build a business that continues to grow without your direct involvement. For that to happen, everyone needs to know your purpose. A strong sense of purpose keeps everyone on track. It also provides the roadmap your team can use to chart their course. It ensures that everyone stays on track and your business doesn't end up in a ditch, stalled out with everyone confused as to how the business got there.
5. Purpose drives successful innovation - Innovation for innovation's sake often results in a lot of wasted time and energy. But innovation designed to facilitate your business purpose is where meaningful progress is made. With a clear purpose, you'll be able to drive innovation in a constructive and meaningful way.
6. Purpose gives your business flexibility - Products, services, and practically everything else in your business will eventually change. The only thing that won't change is your purpose - but how you go about achieving it is always subject to change. By clearly defining your purpose you'll know when it's time to shift direction, change what you offer, or anything else.
7. Purpose builds your brand - By clearly and consistently communicating your purpose to your prospects, customers, and the world, you tell the world how to label and position your company. Over time, this repetition will create a brand in the minds of those who matter most to you.
8. Purpose leads to personal fulfillment and happiness - With a clear purpose, you end up feeling good about what you're doing because you're clear about how it moves your business forward. You're excited to get up in the morning because you have something big to shoot for.
Defining your purpose gives your business a reason for existing that goes beyond making money... Yet it almost always results in making more money than you ever thought possible.
When you design your business to fulfill a purpose, it will drive the business and ensure that something remarkable happens with your product or service. Purpose starts with the leaders, works its way through everyone in your business, and finds its way into the products, services, experiences, and, ultimately, into the marketing.
Companies You Know
Before we start digging to discover your business purpose, let's look at some familiar companies and their purposes.
* Google - To organize the world's information and make it universally accessible and useful.
* Facebook - To give people the power to share and make the world more open and connected.
* Wal-Mart - To save people money so they can live better.
* Disney - To keep the magic of childhood alive.
* Strategic Profits - To guide, advise, and nurture entrepreneurs to work less and make more while building the business of their dreams.
Discovering Your Business Purpose
Defining your business purpose helps you create a company that is capable of making a difference, making money, and - with a little luck - making history.
To discover your business purpose you must start with your customer. You need to find a deep-seated, unmet need that you're passionate about fulfilling in some unique way. Take a good hard look at the people you are trying to serve and find something thrilling to do for them.
The pursuit begins with a question: what do people need or want that we have (or could create) that no one else is offering them?
You always define your purpose from the point of view of your customers. In other words:
* What your products or services do for your customers...
* The effects your products or services have on the lives and work of your customers...
* The specific benefits your customers enjoy from using your products or services...
Think about a business that has a purpose based on detailed research of their market and customers. A purpose that's sure to fill a real need in the marketplace. Doesn't it make sense that a business designed this way has a much higher chance of success?
Your purpose has the greatest chance of success if it removes a pain, frustration, or challenge... In other words, if your purpose addresses or resolves a negative in the lives of your prospects and customers.
People spend an enormous amount of money, time, and energy avoiding pain. They avoid confronting neighbors, bosses, or spouses to avoid emotional pain. They gulp mountains of drugs to suppress physical pain. And they shell out good money on products that make their lives easier, happier, or better.
Short But Long Lasting
You should be able to articulate your business purpose succinctly, in one or two sentences. It should be broad, fundamental, inspirational, and enduring.
Don't confuse purpose (which should last at least 100 years) with specific goals or business strategies (which should change many times in 100 years).
Remember: you might achieve a goal or complete a strategy, but you cannot fulfill your purpose. Think of it as a guiding star on the horizon that lights your path from afar.
Your purpose doesn't need to be unique. The primary role of purpose is to guide and inspire; it's not a differentiating factor. It's entirely possible (although not probable) for two companies to have the same purpose.
Asking Why to Find Your Purpose
A powerful yet easy method for getting at your business purpose is the "Five Whys." You start with a descriptive statement, "We make X products" or "We deliver X service" and then ask, "Why is that important?" five times. After a few whys, you'll get down to the fundamental purpose of your business.
For example, let's take a look at Strategic Profits...
What does your business provide?
We provide products and programs to help entrepreneurs grow their businesses faster while working less.
Why is that important?
Entrepreneurs are the lifeblood of the economy and most are unprepared for properly navigating their businesses.
Why is that important?
Without proper training, the entrepreneurs' workload skyrockets while their overall chances of success plummets.
Why is that important?
The entrepreneur ends up sacrificing friends, family, and fun for marginal profits at best, bankruptcy at worst.
Why is that important?
For most small business owners, the American dream quickly turns into a nightmare destroying their families and finances in one fell swoop.
Why is that important?
When a business succeeds (the right way) everyone benefits - the owner and her family, the employees and their families, the businesses that supply her, and the customers that buy from her.
What would the world lose if my business ceased to exist?
A beacon of hope, freedom, and success for entrepreneurs worldwide.
So, Strategic Profits purpose is:
To guide, advise, and nurture entrepreneurs to work less and make more while building the business of their dreams.
Okay, now it's your turn. Answer the following questions to get at your business purpose:
* What does your business provide?
* Why is that important?
* Why is that important?
* Why is that important?
* Why is that important?
* Why is that important?
* What would the world lose if we ceased to exist?
Once you know why your business exists and what it has to offer, you and everyone you work with will be able to move forward with a clear direction. And that almost guarantees more money in your pocket.
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Today's Question and Answer with Rich
Question: Hi, Rich. Thank you for all you do. Since I started following your advice, my business has been growing. Now I am ready to hire my first full time employee to help my business grow. But I am not sure who it should be. Any advice? Keep up the good work, from Sarah.
Rich's Answer: Great question Sarah. Who you hire for your first employee is a critical decision in a small but growing business. Hire the right person and your growth will greatly accelerate. But, hire the wrong person and it can set you and your business way back. So here's my advice...
In order to hire the employee that'll help you grow your business the most, you must first know the answer to this question:
Based on where your business is today, which would most quickly grow your business more?
(1) If you had more time yourself to do what you're already doing to bring in revenue...
or (2) If you're business possessed certain skills that you either don't have or are not that skilled at.
Here's why your answer to this question is vital to making the right hiring move.
If your answer is (1) then you need to look at your schedule, and identify the biggest uses of your time that are not revenue generating. Then hire someone to take over those activities, so you can spend a lot more time on the activities you do that generate income.
If your answer was (2) then you need to identify those specific skills that would grow your business and begin searching for an employee that has those skills.
To give you greater perspective, when I first started coaching online entrepreneurs, my answer to the above question was (1) so I hired a cracker jack assistant named Sheila who took so much off my plate I was able to quickly double the business.
But as soon as business doubled, the answer to the question was (2) because I didn't have the technical knowledge to do too many things I was certain would grow my business. So my second hire was Dan, who knew both marketing and had the technical abilities I lacked.
With just Dan and Sheila business soared. Within 12 months sales had grown by a factor of 10. And so had my personal income!
Congratulations on your success Sarah. If you choose right, get ready to be much more successful.
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Tuesday, November 2, 2010
10 Things You Don't Know About Working From Home
10 Things You Don't Know About Working From Home
1. You'll suddenly realize that housewives are totally busy people -with hardly any breaks.
2. You'll be challenged not to work because your cute baby is staring at you, saying "play!".
3. You'll be asked constantly, "What do you want to eat today" by your spouse.
4. If you're not careful, that DVD collection will be your #1 distraction from work.
5. You don't remember when was the last time you took a bath/shaved.
6. You're suddenly more interested in nice looking shorts and pajamas in the mall.
7. Your cellphone isn't getting much use unlike before.
8. When you walk to the neighborhood park, pool, all you see are yayas and their wards.
9. When it rains, you're happy you're indoors and won't be going anywhere!
10. In the hot months, you're happy that you can afford an aircon for your room!
-Jomarhilario.com
So there it is --the honest good and bad. Find out how you can work from your nice bahay --even if you're already abroad:
Nilo M. Sarmiento
P.S. Don't worry, this is no s-c-*a-m. I know the guy. Read and judge for yourself: http://www.1shoppingcart.com/app/?Clk=3980509
1. You'll suddenly realize that housewives are totally busy people -with hardly any breaks.
2. You'll be challenged not to work because your cute baby is staring at you, saying "play!".
3. You'll be asked constantly, "What do you want to eat today" by your spouse.
4. If you're not careful, that DVD collection will be your #1 distraction from work.
5. You don't remember when was the last time you took a bath/shaved.
6. You're suddenly more interested in nice looking shorts and pajamas in the mall.
7. Your cellphone isn't getting much use unlike before.
8. When you walk to the neighborhood park, pool, all you see are yayas and their wards.
9. When it rains, you're happy you're indoors and won't be going anywhere!
10. In the hot months, you're happy that you can afford an aircon for your room!
-Jomarhilario.com
So there it is --the honest good and bad. Find out how you can work from your nice bahay --even if you're already abroad:
Nilo M. Sarmiento
P.S. Don't worry, this is no s-c-*a-m. I know the guy. Read and judge for yourself: http://www.1shoppingcart.com/app/?Clk=3980509
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