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The Power of Domain-based Email

Thursday, December 20th, 2012

By Dr. Renae Sanders

If there is a group of people in the universe who believe in low cost value it is the small business owner (SBO). It’s no secret large institutions spend millions in time and money trying to offer necessary services to SBOs at low costs hoping that attracting more SBOs will reap financial gain. SBOs will, in an effort to keep costs down, make “free” work for as long as possible.

Many even forgo branding their own companies through email by maintaining their free email services despite pressure from coaches, mentors, and blog posts suggesting its past time to upgrade to a domain-based email setup. I have heard numerous “reasons” like:

  • “I have had my email account with {named company} for years”.
  • “Everyone knows my email account; it’s too much effort to change”.
  • “I have a domain-based email account, I just don’t use it”.
  • “I don’t have time to focus on that stuff, I am working my business.”
  • “Business is built on relationship; no one cares about my email address.”

There are several important reasons a SBO should consider a change to domain based email and all are important to business reasons:

Domain-based email builds credibility

Two businesses equal in every way except by their email addresses, jack@bigdaddystrucking.com is perceived as more credible than bigdaddystrucking@xmail.com, especially in the absence of a relationship. Business people still collect massive numbers of business cards that they rely on if they need a future service.

Domain-based email introduces the business

Our interaction with the most successful businesses have taught us to look after the “@” symbol to find the name of the company. We often look here before we register the individual’s name. If your company’s name is listed as xmail then a perception is created about the business. When companies follow proper business protocol we things occur even before you meet the prospect (1) you have sent a positive message about your brand, and (2) you have given them a name – we know Jack works at Big Daddy’s Trucking.

Domain-based email protects the business

When SBOs hire employees and provide them with a company based email account, which is owned and controlled by the company, greater control of business information and continuity is maintained. Consider this true story: A SBO and two business partners open a restaurant. Each person is using their comfortable, well engrained personal email accounts to facilitate business. One is responsible for booking events (wedding parties, company parties, happy hour specials, etc.). One day this person suddenly leaves the business and will not return your calls. Once or twice a week, a party would arrive on site for their event and the remaining managers and staff had no idea. Why? There was no access to the departed managers email account.

If a company provides an email account tied to its registered domain, all of the employees email is yours. You can change the password and lock them out when they quit or released. These controls are lost if you maintain your “free” email option.

Domain-based email accounts are easy to remember

It’s easier for people who now know Jack, to remember jack@bigdaddystrucking.com than it is to remember Big Daddy’s email extension is one of many email providers that I have to look up or save. It must be the desire of every business owner to make doing business easy for prospects and clients.

The final bullet in the list of reasons businesses maintain the status quo, that business is conducted on relationship is quite true. But first impressions are lasting impressions and a company’s name appears in many places and prospects may “see” you before you see them. Your company name may appear on lists of references provided by other companies, on vendor lists, on business cards, in directories, mass email distributions, just to name a few. While your service and price may be the best, you may not be the first business contacted by individuals seeking the product or service you offer.

Trust, branding, management control, and easy-to-remember are important business values. Low cost value takes on new meaning when we critically consider the indirect contributions of a domain-based email account. At the end of the day, free may be costing more than you know.

Dr. Renae Sanders is the Managing Director at KRS Consulting, LLC, a business services and consulting firm specializing in business development and training. Believing people are the link between strategy and success, Dr. Sanders works with organizations, leaders, and managers to strengthen internal practices and business relationships. Email info@krsconsult.com to book an engagement or meeting with Dr. Sanders.

Related articles

Reasons to Use Domain Based Email

Domain Based Email

Are You the Master of Your Own Domain

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Winning through Certifications

Friday, November 30th, 2012

Dr. Renae Sanders

For many small businesses becoming a certified vendor at the local, state, or federal government level is an important step toward diversifying the client base and income stream. Certification is recommended for all eligible businesses, but pursuit of any government contract should be a strategic move for businesses. As you prepare, the following will help you avoid wasting your time and resources:

Establish Clear Sales Goals

Businesses should have clear goals for the types of business they are pursuing and which certifications are needed to achieve stated goals. Only pursue certifications that are most recognized by the organizations or entities with which you wish to do business.

There are several certifying agencies at each level of government, but businesses must also investigate which entities accept certifications by other agencies. For example, you may need only a state or regional certification to enter the supplier diversity program at large corporations. Knowing your target audience helps to narrow your scope and focus your marketing efforts on specific businesses or entities.

Learn the Lingo

Pursuing opportunities with government agencies also comes with a vernacular that is necessary to master to be successful in this space. A term like “lowest responsible bid” is quite telling and suggests business owners should be (1) operating at its most efficient level and (2) understand that egregious markup of services are less likely than in the past. Lowest, responsible bids means the granting entity already has an informed idea of the costs for the project, so unless your bid has a valid, and compelling reason to be higher than your competitors, the bid that meets the needs of the project with the lowest price will win the bid, provided all other requirements are present.

Demonstrate Performance

Competition for the largest contracts is stiff. Many agencies are loath to displace a known entity with an unknown player based on what is written in the bids or certification applications. New players must bring their “A” game. To win big in government contracting, a solid track record of performance, stability, and sustainability in related business activity along with great timing is paramount.  Tell your story, better yet, get others to tell your story to key players for you.

Establish a Solid Marketing Strategy

Government agencies are a market segment just like any other segment. As such, a marketing strategy specific to this target group is a necessity.  Simply having space in a vendor’s database will yield minimal results unless an aggressive marketing strategy is employed. Keep in mind, the sales cycle for each level of government and agency are different, but few are instantaneous. Landing a multi-million dollar contract can take years.

While many bid opportunities are issued at the state and local levels, the level of competition for these contracts is also high. Decision makers who have built relationships with existing contractors are more like to stick with a known entity over a new comer.

Remain Abreast of Trends

The time spent between pursuing and waiting for your big break is also the time where additional training and preparation should be obtained for leaders and key employees. For instance, LEED certification and training is a growing requirement among companies seeking large contracts with government and large corporations. Understanding your role in the social and environmental space is of growing importance and increasingly large general contractors, government agencies, and large corporations want to ensure small businesses will add value and strengthen their efforts in the sustainability areas.

The bottom-line is there are numerous, good reasons to pursue certifications. However, developing a solid strategy for how you will leverage them for your business is a critical step in the process. There are many companies that offer services to assist businesses with obtaining certifications, just be certain find a partner you can trust, that is knowledgeable and offers real value to you and business.

Dr. Renae Sanders is the Managing Director at KRS Consulting, LLC, a management consulting firm specializing in organizational development, growth, and relationships. Believing people are the link between strategy and success, Dr. Sanders works with organizations, leaders, and managers to strengthen internal practices and relationships. Email info@krsconsult.com to book an engagement or meeting with Dr. Sanders.

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The Purple Elephant in Our Country

Sunday, November 11th, 2012

By Dr. Renae Sanders

The election has come and gone.  And thankfully so, on one hand, the airwaves are now free of the barrage of the negative political ads that bombarded the airwaves, especially, in the swing states where the ads had become a minute by minute occurrence. On the other hand, for some reality that their candidate had not won would come another day. The tragedy is that we do not have rules or regulations around political advertising when we are asked to make informed decisions about whom we should vote; but that is a separate article.

Today, let’s focus on the proverbial Purple Elephant in our country. The silent, yet ever-present and dangerous animal, that under writes our beliefs, attitudes, and actions.  Yes, its race. And it continues to fester below the surface of our great country. This is bigger than an apology. It’s bigger than reparations. It’s about our collective courage to face, own, and acknowledge that race is as much a part of our current cultural landscape as the air we breathe.

Emotional intelligence experts tell us that we must first be aware of our own emotions and what they are if we are to self-regulate our attitudes and thereby our actions.   Very simply, this means its o.k. to feel what you feel, but it’s unacceptable to act any way you want to act in response to those feelings; especially, if they are negative emotions.  Of course, this holds true for any negative response to emotions; but today – we talk race. Secondly, our emotional intelligence quotient (EQ) is higher if we then have an understanding of how emotion may affect those with whom we interact and how to leverage our awareness of emotions in our dealings – personally, professionally, or politically.

A rising tide floats all boats. Well, all decently constructed ones.  But you get the point. Therefore, the notion that the strength of America’s growing minority population will somehow erode the wealth and stature of America’s wealthiest is less than rational. Believing that in a global environment self-imposed segregation is beneficial and will help our kids cope with the rapid changes occurring in our country or their ability to compete is a response to beliefs of loss. Providing a superior education to the economically advantaged and then blame the poor for not doing more to take care of themselves is less than rational as well. The answers to curing the ills of our society lie in our collective engagement toward solving problems, self-awareness, emotional and social intelligence.

This election, and the last, exposed to many what they have feared with the growing demographic changes – that the democratic process would change the course of history. Surely, the British felt the same way, which is why the American Revolution occurred. In order for us to become a more perfect union, we must change as our country changes and we must respect what we have always seen in the defining moments in our history, “the minority will be heard, but the majority shall rule”.   This festering of unchallenged ideology has the potential to harm communities and create underperforming businesses, as morale, trust, teamwork, and knowledge sharing are compromised.

Author David Walsh wrote in his book, “Conversations with God”, that at our actions and decisions are based on the two primal emotions, love and fear. If we drilled down to the source of our behaviors, we are either acting out of love or on fear. War, segregation, political spin, bullying, analysis paralysis, and the inability to reconcile our sorted history are all based on fear.

It’s appropriate to quote, now, the lyrics from one of Dianna Ross’ megahits, “what the world needs now, is love, sweet love. It’s the only thing that there’s just too little of…”

Dr. Renae Sanders is the Managing Director at KRS Consulting, LLC, a management consulting firm specializing in organizational development and relationships. Believing people are the link between strategy and success, Dr. Sanders works with organizations, leaders, and managers to strengthen internal practices and relationships. Email info@krsconsult.com to book an engagement or meeting with Dr. Sanders.

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From Corporate Worker to Entrepreneur: A Major Cultural Shift

Monday, October 15th, 2012

by Dr. Renae Sanders

Research has highlighted numerous reasons small businesses fail. Organizations like SCORE and CreditDonkey.com purport ten primary reasons for failure. They are:

  1. Lack of experience
  2. Insufficient cash
  3. Poor Location
  4. Poor inventory control
  5. Over-investment in fixed assets
  6. Poor credit
  7. Personal use of business funds
  8. Unexpected growth
  9. Competition

10.Low sales

Often lists like those above fail to demonstrate what activities lead to these types of lists. When such research is conducted the activities are bundled into categories. This article focuses on the journey for the career corporate turned Entrepreneur.

Corporate culture

The lingering economic downtown of 2008 sent massive numbers of former corporate types to start up new businesses. These new entrepreneurs were responding to the need to make ends meet or pursue latent dreams prioritized by unexpected layoffs. Far from the characterization of much politicized 47% (victimized, lazy, and mindless), these individuals pursued the American dream.

Corporate employees have the skill to deal with issues facing big companies and they have the big corporate funding to support those efforts along with the corporate resources to needed to execute. One of the first lessons of the new entrepreneur is “I’ve got to do it all”. From ordering paper clips, to writing plans, making sales, to shipping goods and marketing; the new entrepreneur is the nerve center of it all.

This awareness can be quite overwhelming, especially for those organizations lacking the financial resources to hire workers.  Kicking the habits of the corporate culture to the ever changing world of entrepreneurship is major feat. Most corporations, even the nimble ones are slow, compared to the speed with which an entrepreneur changes direction, business model, product or service offering, or competitive position in an effort to survive those first three years and break the $250,000 barrier.

The mind of an entrepreneur is opportunistic. It takes effort and emotional fortitude to move faster, work longer, and push the envelope of personal inertia and see each person as an connection to be cultivated.

Another challenge many former corporate-raised-entrepreneurs armed with great ideas, retirement funds, and passion face includes under estimating how challenging it is switching from a regular payment schedule to an irregular cycle of some money, lots of money, or no money. The psychological adjustment can be quite debilitating from some. However, the lionhearted this change represents an awareness that you are indeed in control of your future. For the faint of heart, the dread of another 15th or 30th passing with no “hit” is analogous to a junky ‘jonesing’ vacillating between horror, debilitating fear, and sleepless nights. The fear often leads to a low confidence and perspective that leads to a self-fulfilling prophesy.

A good business idea is often spawned by observations made while in a current business or industry. However, many business owners newly released from the norms of corporate culture miss having individuals who handle the administrative activities of the company. Gone are the days when the administrative assistant orders ink, paper, paper clips, shipping supplies based a simple comment. Those orders, invoices, surveys, posts are all handled by a much smaller staff or the owner.

At the end of the day, take heart in knowing all is not lost. The paradigm shift can be liberating and lead to a prosperous life. Of course, there are many elements that lead to a success business, all which are more likely to occur with a positive perspective and internal systems that make managing your business activities turnkey rather than dependent on human hands.

Dr.Renae Sanders is the Managing Director at KRS Consulting, LLC, a management consulting firm specializing in organizational development and relationships. Believing people are the link between strategy and success, Dr. Sanders works with organizations, leaders, and managers to strengthen internal practices and relationships. Email info@krsconsult.com to book an engagement or meeting with Dr. Sanders.

Related Articles

How to transition from Corporate Job to Entrepreneurship

Transitions: From Corporate Employee to Entrepreneur

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Workplace Corrosion

Wednesday, August 31st, 2011

by Dr. Renae Sanders

Corrosion is a chemical reaction between materials and its environment that creates deterioration between the material and its properties.  Corrosion in the workplace can and will cause deterioration among work teams and processes.

Look at it this way, if pipes represent the processes and technology organizations have invested in to improve productivity and bottom lines. Then people are the nuts, bolts, washers, and bushings that enable pipes to process throughput and create efficient operations. Organizational efficiency starts with people.

The current employment levels, economic performance, concerns about the future and emerging workforce strategies such as workplace integration create a delicate, often tumultuous, situation for employees. U.S. corporations, large and small, are operating with fewer human resources than ever – the demand for more creativity and productivity continues to bombard workers. Yet, taking a week of vacation disconnected from the daily work stressors are over for many hard working individuals who are expected to take work with them thanks to mobile technology.  The uncertainty about jobs creates tension as individuals work at insane levels to prove they are worthy to be kept onboard if another layoff comes. Teamwork and collaboration are harder to maintain when the threat of a layoff looms ahead and workers want to show their stuff.

In times, like these, rather than relying a robust pipeline of replacement workers to replenish burned out workers. Organizational leaders must create opportunities that allow employees to decompress, strategize, and create. It’s no secret that people have three dimensions physical, spiritual, and emotional and all must get attention if workers are to perform at the top of their games, producing and solving problems. Otherwise, companies can expect to pay the long-term costs related to healthcare, poor reputation, and underperformance.

Simple Steps to Overcome Workplace Corrosion

Unified effort – make sure everyone is working toward the same goal. Be sure everyone knows the direction of success.

Employee development – when stress strikes the first signs is lack of communication. Workers are moving so quickly to keep the balls in the air they often delay communication until it’s too late; then the “squeaky wheel” is the focus of attention. Refresher courses related to communications and time management are excellent courses to offer before the next crisis hits.

Short team building activities help workers reconnect in fun, small blocks of time, onsite or offsite.

Speak publicly and positively about your team to others inside the organization. There is little in the workplace as nice as someone mentioning a positive comment made by the boss.

Complete respect refers to recognizing that no matter the challenge, we can always be respectful toward each other.

If companies want to run like a well-oiled machines, then they will need to make those choices that allow engines to run most efficiently including lubricating and maintaining the nuts, bolts, and washers that keep the system operating at peak performance.

 People are the links between strategy and success!

Related articles

Scary Work Scenario

Dysfunctional Organizations

Dr.Renae Sanders is the Managing Director at KRS Consulting, LLC, a management consulting firm specializing in organizational relationships. Believing people are the link between strategy and success, Dr. Sanders works with organizations, leaders, and managers to strengthen internal relationships. Email info@krsconsult.com  to book an engagement or meeting with  Dr. Sanders.

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What is My Sales Cycle?

Monday, June 13th, 2011

By Dr. Renae Sanders

What is my sales cycle? Understanding this simple concept is the critical step toward building sustainable revenue for your business. While customers represent organizational relationships, business is won or lost on the people who touch the prospect or client. Each relationship is established and built throughout the sales cycle. Keep in mind, however, that trust is not established until the final product is delivered to the client’s satisfaction.

The sales cycle is defined as the period from which the sales person makes the initial contact with a prospect to the point when the deal is finalized. Some businesses consider the deal finalized when the contract is signed, others when payment is made, still others when the product is delivered.  I define the sales cycle as the time lapsed from the initial contact with the client or prospect to final delivery of the product. When you can determine the length of time between contact and the contract and the period from “yes” to YES, you can best forecast your sales projections.

An accurate sales forecast has numerous benefits. It is helpful when planning for future up/down turns in the market, decision to reinvest in your company, building the case for credit, or enlisting the support of investors for raising capital. Sales management is another important role related to the sales cycle. Leaders can better monitor the activity of the sales team and coach employees who need the attention. 

 Sales Cycle = Prospect > Suspect > Signed Contract > Implementation> Payment

As the old adage goes, you get what you measure and what better metric to measure than your sales. Whether a micro business or large corporate, the sales cycle is the respiratory system of the company.  Start tracking the lapsed time from contact and final product/service delivery and watch your sales increase.

Dr. Renae Sanders is the Managing Director at KRS Consulting, LLC, a management consulting firm specializing in organizational relationships. Believing people are the link between strategy and success, Renae works with organizations, leaders, and managers to strengthen internal relationships. You can reach Dr. Sanders at info@krsconsult.com.

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Are Women Managers also Contributing to the Salary Gap?

Wednesday, March 23rd, 2011

By Dr. Renae Sanders

Have you ever asked yourself, “Why in 2011 women still make significantly less money than men?” It’s an interesting question given the strides women have made towards leadership in organizations. Here are some of the facts about the women’s worforce:

  • In 2006, women, in Fortune 500 companies, made up 15.6% of the 10,000 plus corporate officer positions according to Catalyst Women (2006).
  • In 2008, “women accounted for 51% of all persons employed in management, professional, and related occupations” (Bureau of Labor Statistics, 2009).
  •  Additionally, Lowrey (2006) reported, through the U.S. Small Business Administration, women owned 28.2% or 6.5 million of nonfarm United States (U.S.) firms, and 14% of women owned businesses accounted for 7.1 million workers.

Even though women are rising into positions of management and leadership, the income gap for women (white,  African American, and Latina) remains $.67 per $1 earned by white men (WomenMedia, 2009). Can women afford to blame men for the salary chasm? Do women also play a supporting role in perpetuating the income gap? It should hardly be surprising if they do.

There is a plethora of research indicating that despite the nurturing and supportive nature of women’s friendships, these relationships are often peppered with behaviors such as exclusion, gossip, competition, and aggression (Cantor, et al., 2004). Work relationships are subject to these behaviors too, based on perceptions of power and status (Betero, 2003; Duncan & Owen-Smith, 2006). Add all of this women’s socialization (i.e. the direct and indirect messages) that men are stronger leaders, more analytical, heads of households, and the ultimate prize and the complexities of women’s leadership takes on a whole new light.

Much of the competition between women has a lot to with “men being the ultimate prize”.  Chesler (2001) wrote in the book Woman’s Inhumanity to Woman discussed a long held notion that women lack trust of other women, especially when a “handsome” man was involved. In fact, the author highlighted a perspective of male attorneys that in the case of a rape of a woman by an attractive man, the lawyers should put more women on the jury, as women tended to sympathize with the man! Who knew?  Well, it’s no secret women blame the other woman when her spouse or partner cheats. Given that men by and large are the corporate leaders, then women are also trying to win the approval and attention of their male bosses. All of these dynamics must impact the salary question and answers!

So the questions are do women give men higher salaries and raises than they do women? Do men limit the amount of salaries and increases women can provide to workers? What about women of color and out lesbians? OR are women, in general, just more frugal with corporate assets than men?  Whatever the answer, the salary gap is a shared responsibility and organizational leaders, men and women, must clearly understand their motivations when making salary and performance evaluations if we are to ever see shrinkage in the salary gap between the sexes.

References

Bertero, M. G. (2003). Indirect aggression amongst women in investment banking. Unpublished doctoral dissertation. Wright Institute Graduate School of Psychology.

Bureau of Labor and Statistics. (2009). Women in the labor force: A databook (2009 ed.). Retrieved March 10, 2010, from http://www.bls.gov/cps/wlf-intro-2009.htm

Cantor, D., Goodheart, C., Haber, S., McGrath, E., Rubenstien, A., Walker, L., Zager, K., with Thompson, A. (2004). Finding your voice: A women’s guide to using self-talk for fulfilling relationships, work, and life. Hoboken, NJ: John Wiley & Sons, Inc.

Catalyst Women. (2006). 2005 Catalyst census of women corporate officers and top earners of the Fortune 500. Retrieved October 21, 2006, from www.catalyst.org

Chesler, P. (2001). Woman’s inhumanity to woman. Thunder’s Mouth Press/Nation Books: New York, NY.

Duncan, L., & Owen-Smith, A. (2006). Powerlessness and the use of indirect aggression in friendships. Sex Roes. 55, 493-502.

Kolb, D., Williams, J., and Frohlinger, C. (2009). Confronting the gender gap in wages. Retrieved March 23, 2011, from http://www.womensmedia.com/money/107-confronting-the-gender-gap-in-wages.html

Lowrey, Y. (2006, August). Women in business, 2006: A Demographic review of women’s business ownership. Office of Advocacy, U.S. Small Business Administration, 280. Retrieved October 21, 2006, from www.sba.gov/advo

Related articles

Confronting the Gender Gap in Wages

Dr. Renae Sanders is the Managing Director at KRS Consulting, LLC, a management consulting firm specializing in organizational relationships. Believing people are the link between strategy and success, Renae works with organizations, leaders, and managers to strengthen internal relationships. You can reach Dr. Sanders at info@krsconsult.com.

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What Stands in the Way of Inclusion?

Sunday, February 6th, 2011

by Renae Sanders

Over that last three years, thanks to the political environment (in part), we have heard and discussed more issues related to diversity and inclusion. More news reports, documentaries, and television shows seek to show us different aspects of our society’s struggle with social justice issues, cultural relations, generations, sexual orientation, religion, immigration, and what it means to be a part of a global community.

What stands in the way of our progress toward inclusion? Are we a tolerant people?

I am certain those who seek inclusion would want the “perceived exclusionists” to do more than merely tolerate their presence at work, in schools, on playgrounds, as neighbors, as patrons, or as fellow human beings.  Author, Iyanla Vanzant once stated, “We all just want to heard, valued, respected.” Surely, tolerance is not the answer!

In my experience, dominant group members believe change comes too fast and are frustrated by calls for even more change; conversely, subordinated groups continue to experience change as too slow. What informs our beliefs about this movement is our perception of the level of change. Its undeniable, things have and continue to change. But until we fully realize just how interdependent we all are, we will continue to struggle with inclusion. We still have a long way to go and yet, ‘we are the change we seek’.  The work of inclusion starts with each one of us.

By focusing only on our diversity, especially the visual facets, we often fail to see our just how much we have in common with each other. According to Novations Group, Inc., diversity is any dimension that can be used to differentiate groups and people from one another. Inclusion is when we feel a sense of belonging or connectedness and feeling valued for who we are as individuals or as members of a group.

The work of inclusion is like the layers of an onion, once you have one breakthrough; you realize there is more interpersonal work to do.

Related reading

Johnson, K.R. (1999). How did you get to be Mexican? A white/brown man’s search for identity. The Diversity Factor, 7(2), p. 22-27.

Miller, F. A. and Katz, J. H. (2002). The Inclusion Breakthrough: Unleashing the Real Power of Diversity. San Francisco: Berrett-Koehler Publishers

Recommended sites

DivesityInc.com

Renae Sanders is the Managing Director at KRS Consulting, LLC, a management consulting firm specializing in organizational relationships. Believing people are the link between strategy and success, Renae works with organizations, leaders, and managers to strengthen internal relationships. You can reach her at info@krsconsult.com.

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Want to Grow? Create a Growth Strategy

Wednesday, October 20th, 2010

Renae Sanders

Businesses viewed has ongoing concerns must be run to drive revenue in to perpetuity. The renowned Peter Drucker revealed the purpose of “business exists to supply goods and services to customers” not to supply jobs to workers and managers, or even to pay dividends to stockholders; benefits to communities and investors are great, but not a business requirement.

However, business owners have a very important need and that is to earn a profit. Profits, of course, allow business to continuously meet the needs of its customers. Businesses that successfully meet customer needs must determine how to sustain its ability to do so through economic, operational, and competitive challenges. The concepts involved in growing a business are quite simple – find new clients, offer new products or services, expand the business geographically, merge with another business, or acquisition.

How and when to grow require planning. A growth strategy defines your growth goals, long- and short-term objectives designed to ensure the goals of the business are met with the least amount of risk. The power of a growth strategy lies not only in its creation but also in closing the gap between knowing and doing – planning and execution. From weight loss to marathon training, to retirement planning, defining and measuring goals provide a documented plan for how the business will grow.

According to research, less than 2% of small businesses ever grow to earn $250,000 or more in sales. SCORE reports in its website, seven in 10 new employer businesses last two years, and 50% last five years. With these statistics, leaders cannot leave company growth to chance. Regardless of size, companies should seriously approach the development of a sustainable growth strategy, with executable objectives and tasks.

Components of the Growth Strategy

The growth strategy is created following a continuum of Least Risk and Reward to Most Risk and Reward.

Market Penetration represents the least risk/reward growth strategy of selling more products and serivces to existing clients. Incremental growth can also solidify clients and make it more challenging for deeply penetrated customers to leave.

Market Development is selling existing products into new markets or regions. This growth strategy broadens the market size or opportunity.

Alternative channels means find diverse distribution channels to distribute your product or services. It may invlue using the Internet, hiring an external or internal sales team, licensing to other providers, renting shelf space from retailers. Understanding how consumers search for and purchase the product is a necessary aspect of this strategy.

New Product New Customers is a more aggressive growth strategy where defining and developing new products to meet the need of a new type of customer can bring about significant growth, but at more risk to the company.

Merger relies on finding a complimentary organization with which to merge and expand operations, often in the same space. The cost and challenge are higher and more complex as organization leaders are taxed to find the best ways to integrate and reorganize to capture the value.

Acquisition the most risky growth option if acquiring a business to extend the business each throught improved technology, human capital, or physcial location. There are three primary forms of acquisition lateral or horizontal, forward and backward. A lateral acquisition can extend the growth and reduce competition by purchasing a competing business. A backward acquistion may mean purchasing a supplier; while a forward acquisition may be acquiring a distribution network for your product. Both backward and forward growth strategy offer a way to exert more control of the supply chain ffor your business.

While all potential growth strategies require careful consideration and planning, the merger and acquisition options certainly require intensive planning and due diligence in the areas of leadership, operational risk, tax implications, capital requirements, technology, and human capital requirements.

As in all things, we get what we plan for and measure. A growth strategy is a first step toward driving organization growth. Besides it is always easier to get to new destinations with a well defined map. Want to grow? Create a growth strategy.

Renae Sanders is the Managing Director at KRS Consulting LLC a management consulting firm specializing organizational relationships and productivity. Contact Renae at info@krsconsult.com or call 704-947-2098. To read other articles by Renae Sanders go to www.krsconsult.com/blog.

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Office Saboteurs

Sunday, August 29th, 2010

By Renae Sanders

Office saboteurs run amuck in nearly every organization. Like spies, saboteurs feign friendship and support, while working double time to destroy your efforts or that of the team to achieve specified goals.  According to the dictionary, a saboteur is “one who intentionally causes destruction – in order to hinder the efforts of his/her enemy”. Unlike hole-finders, saboteurs are often subversive and covert. It’s harder to determine the identity of this rogue operative.

Saboteurs may be your lunch buddies, coffee partners, project team members, and the like. These office mates are often so close you never see them as the ‘internal mole’. But many times, the saboteur is so emotionally charged they do not hide their disdain for their self-imposed enemy. The target of their rage: the new manager hired or promoted over the saboteur; the manager’s sacred cow (i.e., office pet); the coworker who just completed a master’s program; the only female or person of color on the team; the person with the foreign accent; the employee who just dresses too well; the person with all the bright ideas; in short, the target of the saboteur is the person perceived to be a threat the work wrecker.

The Best Offense is a Good Defense

Coping with an Office Saboteur can be frustrating and an effort to expose the saboteur often backfires. An undercover coworker’s ultimate goal is cause unhappiness and to shatter others’ belief in your trustworthiness. The best strategies for dealing with saboteurs are basic professional activities and behaviors:

  1. Speak positively publicly and to others about the saboteur. The old adage says, “kill them with kindness” or “you can get more bees with honey” holds true. Public acknowledgement of the saboteur’s productive work makes him/her appear petty. Make nice, but honest comments about the saboteur.
  2. You must stay on your game. The saboteur uses any misuse of company time and resources in his or her crusade against you. Be on time to work and meetings; do not abuse lunch hours; or spend too much time on personal calls.
  3. Maintain your emotional distance from the detractor. Of course, you must remain pleasant and professional; just keep in mind that for the moment you are in the crosshairs of someone who perceives you as the enemy.
  4. Avoid attempts to draw the saboteur into the open. While this strategy works in espionage stories, focusing on them means you aren’t focused on the work at hand. At best, make sure to communicate your achievements and successes and the accomplishments of your team.

The workplace is known for supplying its share of workplace fodder for soap operas; but there is also no dearth of suspense, drama, and other covert affairs to maneuver. It’s all in a days work.

Renae Sanders is the Managing Director at KRS Consulting, LLC, a management consulting firm specializing in organizational relationships. Believing people are the link between strategy and success, Renae works with organizations, leaders, and managers to strengthen internal relationships. You can reach her at info@krsconsult.com.

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Posted in Dr. Renae Sanders, Leadership, Management, Organization Relationships, Trust | 189 Comments »

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