Posts Tagged ‘leverage’

Time for a Change #23: Getting Your Team into Flow

by William Reed on August 16, 2012

Individual and Team Flow

No one truly works alone. We all depend on other people to earn and provide a livelihood. But the quality of our work experience, the quantity of our productive output, and the sustainability of our engagement all depend on the degree to which we are able to maintain individual and team flow over time.

Individual flow is often described as an experience of relaxed concentration, the enjoyment of high performance, challenge, and mastery. Athletes call it being in the zone, musicians in the groove, business people call it full engagement.

Alas it is easy to be pulled out of individual flow by a mismatch of talent and task, leading to boredom or anxiety; and by a mismatch of team energy, whereby other people pull you out of flow. You are in flow if you have a real reason to go to work. You have a passion for what you do. You would do it anyway, and not just because you are getting paid. Considering how much time and life energy we spend on work and careers, finding your flow is urgent and important business.

To gain deeper insights into your individual and team flow take the Talent Dynamics Profile Test online and get immediate results in the form of a profile graph and detailed report. Visiting the website will also help you learn more about the 8 Talent Dynamics Profiles shown in the illustration, and how this approach is used in business.

Team members also depend on one another to get into and keep working in flow. This requires an appreciation of differences in styles and strengths, and the ability to communicate and collaborate with people who share your workspace. This cannot easily be achieved with just a pleasant smile and a cooperative attitude. Once you understand the profiles, strengths and weaknesses, and flow requirements of each individual in your team, it is easy to understand who and what is missing in your composite profile. This will also help define your identity and style as a team, as well as help you determine and attract the outer edge supporters and providers who can help balance and fortify your team.

A high performance team is a priceless asset. Think of what happens to a band when a key member leaves, or how highly interdependent are the members of a sports team. The team’s performance is highly dependent on the team and team members remaining in flow.

Shared Mission and Motivation

Sun Tzu’s classic strategy on winning without fighting applies equally well to what happens inside the team, as it does to the opposition. To be successful it is critical that the team have a shared mission, which is more than a mission statement. What holds it together is an emotional commitment, the genuine feeling that we are in this together.

Working together should be a pleasure, your team an extended family. The team that plays together stays together. Having fun at work makes it easier and more natural to socialize with your team outside of work, within the bounds of friendship, and not as a forced obligation. All for one and one for all is not a bad thing to aspire to if it is felt from the inside.

Shared motivation is the other half of the coin that keeps the team together. Motivation depends on a good match of talent and task, role and responsibility. Players in position, passing the ball to the right person at the right time, and celebrating your success. Talent Dynamics gives you a framework for determining both roles and strategy.

Life/Work Balance

One challenge of full engagement in your work is that it can absorb time, money, and resources that might otherwise be devoted to health, financial planning, family and friends, study, personal development, leisure, or even volunteer activities. Almost by default your work will occupy the lion’s share of your time. Hopefully it will also make the other areas of your life better, but the balance is likely to be asymmetrical.

Management guru Peter Drucker found that people who were only successful in business were often quite unsuccessful and unhappy in other areas of their life. Revisit Drucker’s thinking on this through a book by Bruce Rosenstein, who interviewed Drucker at the end of his life, which I reviewed in a separate article, Living in More than One World.

Value and Leverage

Looking at the Talent Dynamics square in the illustration, you can see it as composed of a vertical Value axis, and a horizontal Leverage axis. To a business, Value represents the things that its customers are willing to pay for, its products and services. Leverage represents the way in which value is made known and available, through its people and systems.

The questions to ask on the vertical axis are what is it worth and when? DYNAMO energy in the green triangle is where you find innovation and ideas in the form of products; whereas TEMPO energy in the yellow triangle is where you find timing and sensory experience in the form of services.

The questions to ask on the horizontal axis are who will deliver it and how? BLAZE energy in the red triangle is where you find people who can make the company’s value known and available; whereas  STEEL energy in the grey triangle is where you find the systems and distribution mechanisms which make the company’s products and services readily available.

Making Magic

The Great Multiplication is where you multiply Value X Leverage, which results in sales and profits for the company, as well as increased value delivered to the customers. Companies which do this well over time are able to grow and continue to deliver additional value to customers at higher levels. Amazon.com started out as an online bookstore, but now sells all kinds of products in many consumer categories. It also offers customers a chance to resell used books, and even has a credit card service. They deliver more things, faster and more cheaply, so they continue to grow. But behind the scenes, this is all made possible because many of the individuals and teams working at Amazon.com are themselves in flow. Companies which drive sales and performance by forcing their people out of flow are not able to sustain growth.

Who are gonna call to make magic? Call EMC Quest and we can show you how to make the most of your energy, mind, and creativity when it is time for a change in your business.

For a summary of this article and reminders of next steps to take, download a PDF file COLLABORATION MANDALA.

William ReedWilliam Reed specializes in applying practical wisdom from Japanese and Asian culture to solving the problems of modern business and living. He is the author of the Flexible Focus column on Active Garage, the syndicated column Creative Career Path and the book A Zoom Lens for Your life. William is also a Representative Director and Co-Founder of EMC QUEST Corporation, which provides Coaching for Communication and Change, World Class Speaking™, and Accelerated Action with GOALSCAPE™.
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Time For a Change #16: A Rewarding Business

by William Reed on May 31, 2012

Finding your path of least resistance

To better understand the Wealth Dynamics Square featured here, a brilliant creation by entrepreneur and founder of Wealth Dynamics, Roger J. Hamilton, it is best to start with the Wealth Dynamics Profile Test, which gives you a measure of where you start, and how far you can go, as well as which direction represents your path of least resistance to Wealth.

Even if you are not an entrepreneur, it will help you understand Wealth Creation, which is a major function of any business, and increasingly an imperative for educational institutions and non-profit organizations, which cannot depend on donations to keep their operations afloat.

There isn’t space here to go into the details of the 8 profiles, except to note that they are supported by successful entrepreneurs and business models in each category, and based on the concepts developed by Carl Jung, and derived from Asian philosophy. More importantly, the Wealth Dynamics Square is like a codex for understanding how people interact with people to create the ideas, networks, products, services and systems that make the business world go around.

Keeping your perspective

There are so many elements to manage in business that it is easy to lose your perspective. By focussing too much on one area at the expense of others, it is easy to win the battle but lose the war. The Mandala Chart can give you flexible focus, like a zoom lens which can look at the bird’s eye view of the whole, the insect’s eye for detail, and the fish’s eye for the connections.

As a guide to navigating and actually applying the concepts in the Wealth Dynamics Square, I suggest 8 categories you can use for Business: Value, Leverage, Wealth, Business Model, Strategy, Platform, Resources, and Network. Download a BUSINESS MANDALA featuring key questions for each of these categories, so that you can begin to create your own customized approach to a rewarding business.

A. Value

Without value you have no business. The challenge is that the value that is obvious to you may not be obvious, and may not even be noticed by the people who have the ability to pay for it. To be successful you need to create value, brand and package it in a way that is easy and attractive for others. This is an ongoing process, if your business is to survive the eroding forces of competition and shifting values. You must have energy and commitment to be at your best.

➀ What is your Wealth Profile, your path of least resistance?

➁ What is your personal platform, you means of showing your value to others?

➂ What is your process and plan for increasing your value over time?

Click here to find out more about the Wealth Dynamics Profile Test.

B. Leverage

Value without leverage is mere potential, a good idea waiting to be implemented. Leverage is how a concept is made known, tangible, deliverable, and ready to use or consume. Leverage is made possible by working with people in complementary profiles who can carry the concept forward into action. It depends on trust, tools, and systems for reliability.

➀ Which profiles offer the most leverage for your value?

➁ What strategies outside of your profile can you engage in to increase your leverage?

➂ What is your process and plan for increasing trust among your leverage partners?

C. Wealth

According to Roger J. Hamilton, Value X Leverage = Wealth (V x L = W). This is higher level of value for business partners, customers, and society, and the reason why a business stays in business. It is also what contributes to the lasting value, or legacy of the business.

➀ What types of value will you create for your business partners and stakeholders?

➁ What type of value do you create for your customers?

➂ What value do you create for society, and what legacy will you leave?

D. Business Model

All successful businesses operate on a structure, or business model that keeps processes running smoothly, and is the key to duplication, repetition, and sustainability. Some business models can be copied, as often happens with franchises. However, the ultimate success depends on the people involved, and not the mechanics of the business.

➀ What are the key elements and processes in your business model?

➁ Can you articulate them in the Business Model Toolbox?

➂ Do you have agreements or contracts in place to communicate and protect your business model?

Click here to learn more about business model generation, as well as tools for generating your own business model.

E. Strategy

While the business model is the vehicle, strategy is the map, the plan that shows where you are going and how you will get there. Strategies should allow flexibility to adapt the plan as you go, without losing sight of the end goal.

❐ Do you have scenarios and simulations for your business potential?

❐ Do you have a business plan?

❐ Do you have a platform for implementing your Strategy?

Click here to learn about a tool that can give you Accelerated Action with GOALSCAPE

F. Platform

In a world which is flooded with information and driven to distraction, you need a platform to be noticed, and to attract people to your products and services. Although there seems to be no limit of choices in how you build your digital or analog platform, the options are increasingly affordable and provide greater reach at a lower cost. The effectiveness of your platform depends on having a sound business model and a good strategy.

❐ What is your digital platform, website, social media, software?

❐ What is your analog platform, brochure, business card, one sheets?

❐ What is your process and plan for leveraging your platform?

G. Resources

No business can last without resources, not only financial, but information, contacts, ideas, all of the things that support and sustain your business as it grows. Pay close attention to and protect your resources.

❐ Do you keep an inventory of your resources?

❐ Do you polish, protect, and use your resources?

❐ What is your process and plan for outsourcing when you do not have particular resources?

H. Network

Ultimately it is the people in your network who make everything possible for your business. You need to identify who they are, and take care of your network well if you would have people take care of you in turn.

❐ Who are the people that can help you?

❐ Who are the people that you can help?

❐ Do you have a process and plan to cultivate and increase your Wealth Network?

Click here to read about the anatomy of your Wealth Network

Developing a rewarding business is hard work, but it becomes easier once you identify and coordinate the elements that support it. The great thing about being or even thinking like an entrepreneur is that you navigate your own course, rather than following instructions to navigate someone else’s course. Use the Business Mandala to keep your perspective and develop your work into a rewarding business.

William ReedWilliam Reed specializes in applying practical wisdom from Japanese and Asian culture to solving the problems of modern business and living. He is the author of the Flexible Focus column on Active Garage, the syndicated column Creative Career Path and the book A Zoom Lens for Your life. William is also a Representative Director and Co-Founder of EMC QUEST Corporation, which provides Coaching for Communication and Change, World Class Speaking™, and Accelerated Action with GOALSCAPE™.
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Quality #8: Best Practices are Contextual

by Tanmay Vora on November 18, 2009

Welcome to the eighth post in this 12-part series on QUALITY, titled #QUALITYtweet – 12 Ideas to Build a Quality Culture.

Here are the first seven posts, in case you would like to go back and take a look:

  1. Quality #1: Quality is a long term differentiator
  2. Quality #2: Cure Precedes Prevention
  3. Quality #3: Great People + Good Processes = Great Quality
  4. Quality #4: Simplifying Processes
  5. Quality #5: Customers are your “Quality Partners”
  6. Quality #6: Knowing what needs improvement
  7. Quality #7: Productivity and Quality

#QUALITYtweet The best practices are contextual – they

worked well for someone in a given context. Are you

applying them in the right context?

Imagine a doctor prescribing a standard medicine based on common symptoms without carefully analyzing other ailments and patient history. A doctor knows the best medicine to cure a particular ailment, but he would look at a patient’s context and then decide if the “best medicine” is really best for a particular patient.

Process managers play a role of doctors for the organizations. They have to identify all possible problems (symptoms) and then suggest a solution (medicine). Best medicines for different types of ailments are termed as “best practices” in business.

Best practices are a set of processes that, in a given context, have the best likelihood of delivering quality products or services. In equation of context identification, some of the variables are:

  • Your goals as an organization
  • Market segment you operate in
  • Your target customers
  • Nature of your product / services
  • Types of customer you already serve
  • Team capabilities and internal alignment
  • Management commitment and sponsorship to improvement initiatives
  • External market pressures (e.g. recession)

The list can go on. Best practices often tend to ignore these variables because they worked in past for someone in a particular context. Their context may be different, but never a static one. Implementing best practice without considering organization’s context is like prescribing a standard medicine without looking into symptoms. Both can be equally dangerous!

So how are best practices useful? Studying best practices can give you some very useful insights on possible solutions for your business challenge. They offer alternative perspectives on ideas that can minimize your risks.

For process improvement experts, having access to best practices can be their biggest asset. But their ability to apply those best practices in an organization’s context is absolutely mandatory for success. As a professional, there is no fun in having a best practice for everything and a solution for nothing!

As an organization, you can leverage best practices by carefully studying them and mapping with your unique business challenges. For this, improvement managers need to understand nuts and bolts of business. Once the context is understood, best practices can become your best guide so that you don’t have to re-invent the wheel. Depending on context, you can either implement a best practice as it is or select portions of a best practice that can be most useful for your context.

Simply believing that a best practice will work for you just because it worked for someone else in the past and applying them in vacuum can harm you more than it can help.

There are no silver-bullets in business and things like context and innovation does play a huge role. As one of the Dilbert comic says – “If everyone is doing it, best practices is the same thing as mediocre”.

Tanmay VoraTanmay is a Software Quality Management professional based out of India. He hosts QAspire Blog and tweets as @tnvora. He is also an author of the book #QUALITYtweet – 140 Bite-Sized Ideas to Deliver Quality in Every Project
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How and Where to Leverage Your Power

by Guy Ralfe on August 26, 2009

One million dollar question is –

Big fish in a small pond or small fish in a big pond?big fish small pond

As I was pondering on the above question, I couldn’t resist reflecting on my conversations with my Father a few years ago.

So, here is some background:

My father always said to me – “It is better to be a big fish in a small pond rather than to be a small fish in a big pond.

This comment was typically in reference to divisions that he would transact with when it comes to banking, accounting, legal etc.

I particularly remember his choice to bank at the local branch when many of the other businessmen he interacted with drove many miles to have an account at the supposed Main branch of the bank in the nearest city.

A relative of mine was one who believed in dealing at the main branch, he spoke of only getting an appointment with the manager if they booked well in advance. He often complained of the effort it took to get loans approved and how the service was consistently on the shoddy side, but they still stuck with banking at the main branch because it made them feel they were a part of something big and important and this was where all the power was.

On the other hand our bank manager was our account manager. On many occasions they visited us and discussed business as long as it took. I recall the manager staying for lunch on many occasions. When we went to the branch we were always known and treated as a valued client. The support staff often knew what we were coming into the branch for, as they recognized us from a previous visit or when we spoke on the phone.

When it came to requesting new business loans people were often surprised how quickly my father could get an approval, what good rates he was able to secure and the extent of the leverage on the account the bank was prepared to offer. We were not getting any preferential treatment or having any rules flaunted for us, but still things were moving fast.

The reason: It was the relative power we held at the small branch that gave us the advantage.

Let us analyze what happened a bit more.

Let us assume that the average transaction value as a metric of worth to the branch.

Typically, the Main branch where the average account is of large corporations, requiring extensive services and producing large revenues for the branch. Assume the main branch had an average transaction of $50,000 and the local branch had an average transaction of $5,000.

If my average transaction is $10,000, at the main branch I will be an “expensive” customer – who costs a lot to service per transaction. At the local branch, I will be one of the higher contributors to the banks operations and so will be deemed a more favorable client. The local branch will likely go out of their way to keep my business as I can better help the branch meet its goals. Note in both instances I have the same average transaction value.

So my circumstances are the same but the situation values them differently.

The results my Father experiences to this day are due to this relative valuation. Both branch managers have access to the same credit and loans departments, but you can see how the local branch manager is compelled to present a stronger case for a like request than the main branch manager would.

So, my point:

This is the way the marketplace works. Always be conscious not only of what offers you can make, but where you make them.

Be the big fish by choosing the right pond!

Guy RalfeThis article was contributed by Guy Ralfe, co-founder of Active Garage and co-author of the upcoming book ProjectManagementTweets. You can follow Guy on Twitter at gralfe.
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