executive - Artful Thinkers

April 22, 2013May 31, 2017

Good Business Leaders Use Intuition to Make Decisions

Decision making is constant in business. Advancing products, engaging employees, responding to customers are top priorities, all while keeping a careful eye on the bottom line. It is the basic function of a leader to be continuously selecting priorities and taking action. Multitasking and constant awareness come with the territory of being in charge. The only stop to the ongoing process is shut-eye. Not resting, deep sleep.

Every person, whether in a leadership role or not, confronts hundreds, thousands even tens of thousands instinctual decisions throughout a given day. Some are instantaneous, or as we classify “automatic”, while others require in-depth analysis.

We all have an internal analytic engine, taking everything we know, we collect and can reference based on experience to churn out a decision. We are the greatest sources of our own big data!

As technologists find ways to host, gather and exploit bytes by the billions and trillions of data from others, our own brain functions as the largest processor of data. Enabling us to act quickly or deliberately, at the speed of which best suits the need for a decision. Not everyone utilizes their “big data” engine in the best way, whether from a lack experience or knowledge, impairment or perhaps ignorance to what the data shows. The result, bad decisions.

In business, some can be plagued by the constant role as Decider-in-Chief. This often results in procrastination or delayed decisions. The common impact is action taken “too late”. The organization depends on a leader to make impromptu decisions, while also taking deliberate actions to lead to the “best” decision given a certain set of facts. Organizations need deciders to execute plans, activate programs and assign activities that drive results.

Good leaders often have a good sense of intuition. They use gut check analysis and set plans into action, without the noticeable analysis that others might use in trying to determine the path forward. Where did they acquire such skill? Repetitive decision making. Leaders know they have to make decisions, they are accustomed to their role and have the experience of accepting fault and risk with taking action. This training builds confidence and a strong basis for intuition. Making decisions over and over again in practice builds an intuitive leader.

Some researchers claim that intuition results in a physical experience, a shiver, an image or the often unexplained deja vu. Others may use the intuitive nature of a dream to set a plan into action. The remembrance seems to create a comfort in the decision, having the sense of knowing the outcome. Beyond the intangible means from which confidence results, the facts are that when decisions are needed, strong leaders will act. Knowing inaction often results in increased pressure, stress and potential problems, making a decision, right or wrong, seems to give a sense of relief. Decisions invoke power and progress.

There is no magic in intuition, it’s brain power. It is knowledge. Intuition is using information, filtering and making a judgment based on experience. The continuous practice of using intuition creates a platform to control quality of decisions and use of perception or quick insight, without compromising confidence.

Intuition is not “inherent”, it is learned. The origin of the word dates back to the 1400′s as a reference to contemplation. There are many times that intuition will lead to proven conclusions; however, a leader will not always use it quickly and without process. There is often a misnomer that intuition means instant, without regard for facts or experience. It does not. It means using your better judgement and trusting your thoughts, your ideas and your role as a decision maker. It is using your intuition to move forward.

“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition.” – Steve Jobs

Jamie Glass, President and CMO at Artful Thinkers @jglass8

March 25, 2013June 13, 2017

What is Your Business IQ?

The question is not related to your personal or business intelligence, it is your business Innovation Quotient (IQ). Your business IQ is connected to how you manage change and performance improvements in all facets of your organization, from operations to product. The origin of the word innovate goes as far back as the 16th century. It is simply introducing something new or different.

There are some companies that are perceived to “own” innovation and are frequently on lists of the most innovative companies. Expected and recognized mainstream mega brand companies like Apple, Google, Amazon, Nike, Target, Coca-Cola recently topped Fast Company’s 2013 Most Innovative list, along with newer innovators like Pinterest, Sodastream, Tesla, and Yelp. They all have visible innovations and a high “product” IQ. We come to expect they are doing something new and different all the time. What we do not see is how these businesses innovative internally. How they get on these lists takes more than smart, cool products. We don’t know how often they change employee policies, management teams, adopt new software programs or retire practices that no longer get results – unless you are Melissa Mayer of Yahoo!

What is your business IQ? How often are you “innovating” the 4 P’s: product, people, processes and policies? If you were to rate how innovative your company is today, on a scale of one to 100, with 100 being the most innovative, where do you rank? If you are never changing, you probably have a low business IQ. If you are always changing, your business IQ should be close to 100. The most realistic place to be, without completely disrupting or killing your business, is to aim for above 50.

If you are an innovative trailblazer with a high IQ, congratulations and press on! It is difficult to stay on the forefront and constantly introduce “new” into a business. Trailblazers make change and as a result, often make money. They innovate, pivot and innovate again. Maverick companies with high business IQ are in a continuous cycle of innovation and change.

If your business is lacking in the innovation department, it may be time to set new company standards. If you asked everyone on your executive team to provide you a recommendation of an old idea or way of doing something that needs to be retired, without measure of cost or risk to the business, what do you think would be on the list? Perhaps it is time to find out. Innovation begins by identification. Where there is opportunity in your business to innovative, there is opportunity to improve.

Old or young, businesses need to always be monitoring their business IQ. Innovation takes place within companies as well as in products and services. Being an innovative company requires a constant and systematic evaluation of how the company will stay competitive and continue to grow or maintain sustainable profits. The lack of innovation is a one-way ticket to performance doldrums.

Not all innovation is good and there are certainly small and big failures to note. One point is certain, if your business is low on IQ, it is probably not maximizing the potential of products, people, processes or policies. Start by asking the questions first. What needs to go? What is holding your business back? Identify where you can improve your business IQ and then go — innovate!

“If you want something new, you have to stop doing something old.” – Peter F. Drucker

Jamie Glass, President and CMO of Artful Thinkers

March 12, 2013June 13, 2017

Avoid Being Distracted by Shiny Pennies

A common challenge for business owners and executives is to avoid “tripping over shiny pennies.” What does that mean? It is the attraction and distraction of the newest, latest, greatest shiny object in our path.

We all seem to have a trained eye to spot the bright copper commodity at our feet, no matter where we are headed. The shine is overwhelming. We stop. We pick it up. We put it in our pocket. Then we declare our latest “find” to be lucky. A sign of great fortunes to come.

Shiny pennies reflect a fiery glow that is hard to avoid. Old pennies lack the shine and sleekness that keep our attention. They seem drab. They are tried and have traveled far, gathering dirt and grime along the way. They often find homes in jars, drawers and bottles. New pennies have power. We have willed the new penny with charm, a source of inspiration, as we traverse along the pathway of possibilities.

The penny is representative of all the ideas and opportunities that land in front of us, one right after the other. Every time we stop to evaluate a new idea, we are taking our attention away from our current plan of action.

Navigating through the countless opportunities, or shiny pennies, requires determined focus and unbridled commitment to a planned strategy.

Unfortunately, in business the sparkling object we stop and pick up is often worth exactly the minted value – ONE CENT. Consuming ourselves by the possibilities of what the perceived lucky penny might bring can actually cost a business many pennies, if not fortunes.

New is not to be avoided. New keeps us innovating and testing. The overwhelming desire to continually focus on the new penny in our pocket, can be a big distraction from working on the current business plan. Shiny pennies have a time and place. Some will need proper evaluation and careful consideration. If you are feeling consumed by all the shiny pennies, set a time in your day or week to focus on these new ideas. Plan for “new” within your plan. Budget the costs associated to testing the new ideas.

Apply the “penny test” in our course of evaluation. What is the real cost associated to adding this penny to the jar of other shiny pennies? Will you spend more in product development, sales and marketing? How will it change your business model? Is there an impact in supply chain and distribution? How will customer’s respond? Every new penny that you stop to pick up needs thorough testing and vetting, with an effective cost-benefit analysis. The amount of work to evaluate the penny is expensive, so not every penny is worthy of much attention.

Be cautious of the allure of the sleek and sparkly new. After all, it is just one cent – shiny or not. If you are always tripping over pennies, you might just fail to see the dollars falling from the sky.

“If had a penny for every strange look I’ve gotten from strangers on the street I’d have about 10 to 15 dollars, which is a lot when you’re dealing with pennies.” – Andy Samberg

Jamie Glass, President and CMO at Artful Thinkers

July 22, 2012

Ready to Hand Over the Keys to Your Business?

Who is Ready to Drive Your Business Forward?

Business owners can easily be consumed by the short term activities of day-to-day operations. Sole focus on immediate outcomes exposes any business to long-term financial risks.

Every business leader needs to mitigate risks associated to being the one in charge. The value of a business is built upon the sustainability of the operating plan, with or without it’s leader. As an owner or CEO, have you asked yourself the “what if” question? Are you fully prepared to hand over the keys to your business today?

You may have imagined that some day you will be transitioning your leadership to a partner, an investor, the next in line or even family member. You may see your fabulous retirement life through the eyes of selling your business in multiples above your investment. In order to realize your dream, you need to spend time and commit resources to adequately prepare for a favorable transition. When? Now.

Succession planning is critical to an effective transition. Achieving optimal outcomes in transitioning a sustainable business requires years of preparation. How confident are you in handing over control of your business to your successors today? A successful transition plan gives the new leaders a complete operating manual. They need to be adequately prepared to operate the business day one. They need to be able to take your business forward to protect your investment and to benefit your employees, stakeholders, customers and partners.

Some owners avoid planning for the end of the business because of the time it takes away from working “in” the business right now. The lack of preparedness puts your business value at risk. It is never too early to prepare for an exit. Whether you are a small owner-operated business, mid-market company or family-owned enterprise, you need a definitive succession plan. It should be part of your standard business.

Here are some tips on how to start your succession planning:

1. Document company processes and procedures. Everyone is not replaceable. Unfortunately, when a person leaves the business they take institutional knowledge. Key personnel that do not document their knowledge or share it with their direct reports, cost your business long-term and expose you to great risk. This includes the owners and founders. You can mitigate that risk by making sure every employee documents their processes and procedures. Start with key roles. This is not a job description, it is a “how to” operating manual for every role in your company.

2. Review your wealth preservation strategies with your advisors. Meet regularly with your personal and professional financial team members to analyze your current situation and review your short and long term goals. Be “in the know” at all times of where your business stands financially. Use strategy and growth advisors to help you pivot the business, so that you can exceed your goals. Update your business evaluations annually.

3. Build a culture of knowledge sharing. Create internal social exchanges and information sharing networks. Use your company meetings to have one department or key player provide a highlight of their role and what it means to the business. Reward employees for creatives ways they educate others. Commit one hour a week per employee for education and cross-training.

4. Host quarterly strategy updates with key personnel. Spend time with your “next generation” of leaders to share business plans, KPIs, lessons learned and company strategies. They are the future leaders of your business and they may be executing your business plan. Keep no secrets. Share your wealth of knowledge. Sharing keeps people engaged and actively participating in achieving business goals.

5. Reward excellence in execution. Find opportunities to reward performance for those that take initiative and demonstrate they are prepared to lead. A business full of up and coming leaders, results in sustainability.

Exit planning helps you increase the value of your business today and in the future. Investors and bankers should ask to see your succession plan. As you plan your beginning, you need to plan for the end. Make your investment of time and energy pay off more than you imagined. Plan today to realize a profitable, rewarding and fulfilling end.

Jamie Glass, CMO & President of Artful Thinkers and Managing Director of Sales & Marketing Practice at CKS Advisors.

July 15, 2012

A Bad Sales Hire Can Crush a Small Business

The decision to bring a sales person into your business is the most important decision you make as a business owner. Financially, it can be very rewarding or it can be devastating to your bottom-line. The reality is that your hiring decision can propel you to mega-success, crush your business or land you somewhere in the middle.

There is no absolute science in making good hiring decisions. Know your associated real and opportunity costs of making a bad hire. Calculate the risks of the person not working out before you sign the offer letter. Will your business survive making a bad hire? How soon will you need to pivot if performance is substandard?

Based on the financial risk assessment, you can qualify whether you should invest in a professional resource or hiring profile tool to reduce the risk. In other words, decide if you will pay now or potentially pay later.

What else can you do to protect your long-term financial security as a business owner and make an informed decision about hiring a sales person?

Ask candidates questions related to sales activities. Don’t focus on their industry knowledge. Industry knowledge is trainable. You don’t need a nurturer or relationships person. You need a sales person that will ask for money! It is the secret skill that will bring revenue in the door. There are two types of sales people: hunters and closers. In the beginning, you will need someone who is good at both. They will cold call, with or without leads, and they will ask for the close. These are “rare birds”. Ask questions about the candidates history with sales cycles, average size of deal, average daily cold calls, number of customers sold each year, and presentation-to-close ratios. These are all indicators of past performance and predictors of future success. When a resume lists awards for exceeding quota, that does not tell you what they sold in the past is going to translate. You want to know what they did to exceed quota. What activities made them successful?

Invest in training and sales support materials. Basic training materials should be product feature and benefit lists, industry keyword definitions, product overviews, competitive analysis, market positioning statements and scripts of common objections and how to overcome them. Utilize your team of in-house experts to train your sales people. Set up daily Q&A sessions with product engineers, marketers, customer service personnel and anyone else that touches the customer. Share all the secrets, good and bad. The more knowledge and access to experts the sales person has the better prepared they will be to overcome objections. The first two weeks of any new sales hire should include at least two hours a day training and practice calls.

Set sales quotes and activities quotas. An experienced sales person may only close 1-2 deals per year, with an average deal size of $2 million. You need to clearly outline your expectations and what you will inspect regarding number of calls, meetings, presentations, proposals and closes. Assigning the closing numbers without understanding how many calls that might take will cost you severely. You must know, for example, 500 calls or 20 face-to-face meetings may result in five closed deals at an average sale of $10,000. If this doesn’t meet your expectations, adjust accordingly. Then measure the number of calls to see if you are on pace each week. Early indicators will provide you the opportunity to pivot quickly.

Know your exit strategy. What is the maximum time you can invest in a bad hire? The answer can not be zero, because every hire has inherent risk. If it is 90 days, then have a very specific plan with measurable key performance indicators (KPIs) that you can inspect every week. You only have 13 weeks to determine if you will terminate employment or keep on staff. Sales people are used to 90-day probationary periods. You should have inspection points with planned exit strategies at 6 weeks, 90 days and 180 days. Cut sooner and learn from your mistakes. A year-long bad hire could close down your business if you are not well capitalized and depend on this new hire’s revenue to sustain your business.

Identify the characteristics that could be a threat or high risk to your business. Character matters as much as sales skills. You need to adequately assess the “fit” of this person in your business. You are handing over the keys to your future. Can you trust this person? Is this a person you would take with you to all your important meetings? Does this person dream big? Are they kind, friendly and positive? Will your customers like this person? If you can afford a hiring assessment by a professional, with tools that can define their character and skills, it will be worth the investment and potentially save you from making a big mistake.

Do your homework. Never, ever skip reference checking. Dig deep! Ask community and business people that might know the person, look at their LinkedIn connections and recommendations. Reference and background checks are as important as due diligence when buying a business. You will be writing substantial checks to this person on a promise. They will be creating your business first impression. Reduce the risk by learning from other’s experience. Again, it may be in your best interest to hire someone to do your reference checking to get a complete picture.

Finally, use your gut. Do they represent you? Your professional and personal instincts will serve you well. A bad hire can scar you and make you timid in making a future decision. Know that it can take four or five hires to find a rock star. An early success in hiring a sales person is rare, so have a backup plan.

Sales people can make or break a business. Know your upside and downside when hiring a sales person to promote your business.

Jamie Glass, CMO and President of Artful Thinkers. Creative. Strategic. Results.

July 8, 2012

Who Makes the First Impression for Your Business?

business building handshake — Who Greets Your Potential Customers?

First impressions for your business are made by people that open doors, make cold calls, attend networking meetings and answer your phone. They are delivered by your marketing communications like social media and websites. How confident are you that your potential clients are greeted warmly and with a direct invitation to do business?

Years ago businesses paid someone to sit at a front lobby desk and answer every inbound call and greet every walk-in appointment. The receptionist qualifications were measured by friendliness, service-orientation and attentive disposition. The standard phone greeting of this time was “Thank you for calling, how can I help you?”

When is the last time were greeted this way? Today we are often met with automated attendants and empty lobbies. Some businesses have completely eliminated any dedicated space to a welcome station and filled it with another cubical. My impression is that first impressions are not a priority for this business. The decision that customer experience may be too costly to employ a dedicated person, may be costing you business.

It is not difficult to think back to a bad first impression. I recall three in the past weeks. One top restaurant asked me to wait outside in 110 degrees because they did not open for four minutes, yet the door was unlocked. Another restaurant hostess asked me to stand until my party arrived even though every table was empty. A technology company, which had a sitting place upon entry, left me for 20 minutes while employees stared at me. Not one person asked why I was there or if I needed help. I remember all of these first impressions, vividly.

Noted in a recent New York Times article Praise Is Fleeting, but Brickbats We Recall, “Bad emotions, bad parents and bad feedback have more impact than good ones. Bad impressions and bad stereotypes are quicker to form and more resistant to disconfirmation than good ones.” Sited from Roy F. Baumeister, a professor of social psychology at Florida State University in a journal article he co-authored in 2001, “Bad Is Stronger Than Good.”

How your employees are greeting the public, networking, making introductions, and opening doors for others is a direct reflection of hiring skills, company culture and leadership. Business owners, CEOs and managers own the customer experience. Every employee is responsible for making a positive first impression. How are you reinforcing how positive first impressions are made in your business?

Customer experience is a financial decision in business, unless revenues are low on the priority list. Reputation management is critical and costly. A bad review is hard to overcome. You can’t erase the Internet or someone’s memory. People use others professional and personal experiences as a reason to buy or not buy. Bad experiences are viral, whether online, through social media, on sites that track reputations or by word-of-mouth. Once word is out, it is permanent. You own it!

Every experience starts with the greeting. Take time to review how your potential and existing customers are greeted today. This applies whether you are selling B2B or B2C, for every industry, in a building or online. Use “secret shoppers” and have them rate how inviting, caring, and enthusiastic they were welcomed to do business with you.

Customer service is a pillar to good business. Customer experience starts when the phone is picked up, the door is unlocked or a web site is visited. We may not all have the luxury of hanging up a flashing “Welcome to Fabulous Las Vegas” sign to greet everyone. We do have the luxury to manage and train our messengers to provide an outstanding first impression.

Invest in your greeting. Define, train, test and continually reinforce how you want to insure a positive first impression. It your opportunity to create a long-term valuable relationship with your customer.

Jamie Glass, CMO and President of Artful Thinkers, a sales and marketing consulting company.

May 21, 2012

Flying as a Solopreneur

The Flying Solopreneur – Life as the Independent Consultant

Your mind is a beautiful thing, so don’t waste it. Put it to use as a business. All of your collective experience gained through enterprise successes and failures can be commercialized into a service business, if you are willing to fly solo.

“Solopreneurs” is the trending word for self-employed entrepreneurs, also known as independent consultants. On the networking circuit, they are called “single shingles”. Solopreneur means the business is you! Your commodity is available time.

Business professionals worthy of being hired to fill a gap in an organization based on skill, knowledge and experience, should be open to the opportunity that multiple businesses may benefit and pay for that expertise.

The first step to determining if you are a good candidate to be a solopreneur is to convert your resume into a list of “product” features. Once you have a good product description, then you need to determine if there is a market for what you are selling. In other words, will businesses pay for your time and the benefits you can provide?

As a solopreneur, you can save time and money by first drumming up attention from those that have witnessed your expertise in action. Reach out to test your market viability through your network. Using the standard sales technique of asking for a referral, let people know you are open for business and ask your network to share your availability with others. You may further extend your marketing message by offering referral fees to groups, partners and business associates that help you retain clients.

As a solopreneur, make sure your professionalism is demonstrated in your communications and social profiles. Have a business card and professional web site that details your “product” and services. Create a professional business email account and secure your social site URLs, if you are going to brand your business beyond your name.

Working independently requires discipline and good time management. You have to work on your business every day. Solopreneurs typically spend 20-30% of their time working on their business, leaving only 70% of the day working for paying clients. Expect to dedicate at least three hours a day to marketing, meetings, invoicing and selling your services.

If you choose to be a solopreneur, build an advisory group of successful solopreneurs with expertise different than yours. Meet once a month to share industry information and advice on how to best manage your business. As a benefit, they may extend your reach by talking about you to their clients and network. They should be your best unpaid marketers!

Solopreneurs succeed when they can fill a day of hard work, sharing knowledge and expertise and producing results for those that pay for that mindshare. I am proud and excited to be flying solo as Artful Thinkers, it is truly an adventure.

“Be not simply good – be good for something.” Henry David Thoreau

April 27, 2012

The Transition Queen

iStock_000003042313XSmall — Next Exit to the Future

Transitioning has become a way of life for many career professionals. This is especially true if you target leadership roles and consulting opportunities in the land of start-ups and working with entrepreneurs.

Some of the negatives of transitioning are summed up in lack of financial security, less control of outcomes and a life full of constant change for you and your loved ones.

The positives of transitions are the experience gained, the continuous learning from success and failures and of course the valuable connections and colleagues who become life-long partners in your professional journey.

For me, transitioning is what I expect and what I know. It is my way of life.

Coming out of college, it was always suggested that you find a “good” job and stick with it. You ride the elevator up to the top, upgrading your positions and taking on more responsibilities along the way. There are many people that like that steady climb or even like to take a job and find sanctuary in the stability of staying put.

I soon learned that riding on the same elevator for very long did not provide me a lot of challenge and was difficult for a pure opportunist. My ascent to leadership was early in my career. I was fortunate. It was my belief the more responsibility you gained riding up the chain of command, the more commitment you had to affect change, push for progress and even disrupt the “norms” of cultural beliefs and thinking.

I also learned that if you push too hard for improvements or change, you might soon find a transition in your near future. It is disruptive and challenging to businesses, big and small.

Why have I anointed myself the Transition Queen? It is my career path and my journey. It is also my value proposition. I have seen, experienced and learned more through multiple transitions of which most people never see in a lifetime. Transitions from mergers, transitions from completing multiple C-level consulting projects as a business owner and transitions in roles that hit the proverbial end of the road for me — I have experienced them all.

The first decade of my transitions were emotional and met with uncertainty. Today, I wear my transitions as badges of honor. I get to do more, learn more, meet more people, find new ways to make a difference. I realize now that transitions are opportunities to grow and face new challenges.

My honorary Transition Queen title is worthy of the rich experience and expertise gained along the way. Working in multiple industries, driving change in big and small organizations and finding solutions to meet consumer and business needs are immeasurable when collectively stored in one person.

Pebbles Stack — Stacking Up Experience and Expertise

My problem solving skills are keener, my view of what can be done is brighter. I am confident I can help. I am certain more can be done. I have worn multiple leadership hats and I know there is always a similar process and methodology that can be applied to increase market share, grow revenues, commercialize products and create solid infrastructure.

I relish the transition. I seek it and sometimes even push for it to happen, or as I say to achieve my “self-fulfilling prophecy” to move on. My ability to help others move faster and achieve more is my driver. A motivator. It is my life blood. Change yes, change now, absolutely. In the end, I have come to accept I am The Transition Queen.

Now, on to the next big thing!

November 30, 2011

History in our Midst

In less than 48 hours, I had the unique opportunity to meet with two men that have made history. Historic by standards that won’t measure with well known names in history books; however, historic in business, politics and leadership.

Both men are in their eighth decade of life. Their experience is beyond the riches most can’t even fathom. One was a Holocaust survivor who built enterprises and rebuilt a nation. One has provided homes to thousands and funded community projects including a library and hospital wing.

Their advice and wisdom gives me hope. Neither sees our divides and obstacles today as monumental. All will be solved in time. They observe, they listen, they know.

My time with both was short. I knew in listening to them each offer me and my business colleagues advice, we were all wiser and more experienced. I know that even in the few hours I was in the midst of these historic men, there where pearls that could not compare to any time I spent reading or learning through my own success and failure. How do you compare your own experience to people that have changed lives for hundreds, thousands and even millions?

Time with people that have made history is the most valuable time we have in any given day. There is history all around us. Some are quietly observing and waiting for you to ask “Tell me your story”. The honor of meeting history twice in the same week is monumental. I am changed and I know more.

What did I learn? We can do more than what we are asked to do today, we should do more for ourselves, our families and all mankind and take nothing for granted because you can make a difference. Maybe even make history!