Archive for June, 2011

Are You Adding Value?

Friday, June 17th, 2011

by Dr. Wesley Carter

How do you add value to your company? What actions do you take to help your company grow and prosper? Every employee and every business owner should ask themselves the same question – - “Am I adding value?”

Globalization and competition challenge today’s work environment and stimulate an incredibly volatile and dynamic work environment. As the forces that drive labor shift, success becomes more and more dependent on the competence and execution of human capital, or individuals that comprise the workforce.  

All successful companies have at least one thing in common – high-performing individuals contribute to their success. These individual are the single most valuable asset of any successful enterprise. As such, human capital has the greatest impact on organizational success. Every individual should ask themselves – - “Am I a high-performing individual?”

 High-performing individuals are serious about professional development and take every opportunity to develop, grow, and master skills that contribute to operational excellence. These top performers have a genuine hunger for knowledge so great that they willingly use their personal time to develop themselves. In addition to taking advantage of learning opportunities at work, they can be found pouring over a book at lunch, attending night classes, and learning from their peers. High-performing individuals seek opportunities to demonstrate competence, such as certifications, degrees, and leadership.

Re-engineering is one of the favorite activities of high-performing individuals. So intent on driving success through efficiency, they constantly evaluate work flow and make changes as necessary. “Because we have always done it this way,” will never pass their lips. If the reason for executing a task cannot be tied back to the organizational success, the task is not valuable.

Further, technology does not confine high-performing individuals. Instead, these individuals harness technologies to create efficiency. A high-performing individual perceives technology as a means to an end. Inefficient technologies are scrapped if they cannot be modified to serve the organization.

Moreover, high-performing individuals positively contribute to organizational culture. They recognize the impact they have on individuals in the organization and make a conscious effort to create positive relationships and a positive work environment. Organizational culture refers to the shared assumptions, beliefs, and behaviors of company’s employees and volunteers. High-performing individuals take ownership of helping to shape organizational culture.

Lateral growth is as important as vertical growth to high-performing individuals. Lateral growth activities include, but are not limited to, engagement in industry and job policy, serving in professional organizations, peer-to-peer development, and mentoring. High-performing individuals do not wait to be designated as leaders. They take leadership seriously and execute leadership whenever and wherever necessary.

The work ethic of a high-performing individual is marked by a sincere commitment to being an extra set of hands wherever it is needed. They do not shy away from work proclaiming, “It is not my job.” They are constantly scanning the organization, looking for places to contribute to organizational success. These “plug-and-play” individuals are characterized by flexibility, critical thinking, and high levels of competence.

Most importantly, high-performing individuals understand the metrics of success for their specific industry and organization. They make it their business to know exactly what drives success in their organization and then they contribute positively. High-performing individuals possess the courage and commitment required to step in and redirect unproductive efforts. They are champions of change.

Today’s hypercompetitive business environment requires individuals to voluntarily deliver far beyond the traditional requirements outlined in their job description. Our country was built by courageous, committed, hard-working, high-performing individuals. Are you a high-performing individual?

WESLEY CARTER DM, authors an advice column that leverages leadership and management strategies to solve common business problems. Carter holds a Doctor of Management (DM) degree with an emphasis in Organizational Leadership, an MBA, and a B.A. in Management.  Carter is a partner at KRS Consulting, LLC in Charlotte, NC. If you have a question, email wesley@krsconsult.com . All submissions become the property of Wesley Carter. Call (704) 992-1211 or email to book an engagement. This article orginally appeared in the Charlotte Post.

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Leading Organizational Change

Friday, June 17th, 2011

Dr. Wesley Carter

It has often been said, ‘the only constant in life is change.’  Indeed over very survival is depends on our ability to adapt to our environment. Our directions change whenever a barrier or road block appears. Households, teams, organizations, and communities change. Change is also a business imperative. How entrepreneurs and other organizational leaders address predictable, as well as unforeseeable challenges is pivotal in the current market.

Protecting the viability of the organization may require a change in the strategic direction, organizational mission, value proposition, and resources (human or capital) to achieve a desired future state. Unfortunately, change management strategies tend to be cumbersome or otherwise difficult to execute, posing yet another challenge for organizational leaders.

Organizational leaders get so caught up running the day-to-day operations, that they sometimes fall short on the time required to evaluate the various change management initiatives available to them. The most effective way for leaders to implement change in any organization, large or small, is to first overcome inertia.

One of the major impediments leaders must overcome is the notion that change is hard. This pervasive view is steeped in the uncertainty of the future state of the organization, a lack of confidence in the ability of the leadership and employees to execute effectively. Sometime the reactionary nature of organizational leaders can lead to ambiguity about the company’s strategic direction. In this regard, companies become easily focused on the next new thing and lose focus on the last change initiative, which can be perceived as frantic by the employees!

There are five requirements for effectively executing a change management plan. First, for optimal results, the entire leadership team must commit to the change. Team members from all levels of the organization should be recruited to lead the change initiative to ensure that plans are actionable. Next, organizational leadership should conduct a thorough environmental scan to identify best-of-breed strategies and applicable lessons learned. This is probably the most valuable and often overlooked step in change management initiatives. 

Third, organizational leaders should seek feedback from all levels of the organization. The success, or lack thereof, of a change initiative is largely dependent upon the degree of acceptance and use by organizational members. Too often, leaders take a top down view of the organization and instigate change initiatives that are not practical or adaptable. An interesting analogy comes to mind – - while leaders generally have a view of what is going on in the conference room, the employees are the ones with the view of what’s actually going on outside the conference room. The feedback should be leveraged to create action plans to implement the change.

After the plans have been operationalized, leaders should develop and execute a comprehensive communication plan through the entire change process. Set expectations by providing a clear vision of the new state including a plan for how the change will occur. Identify “culture carriers” at every level of the organization to influence stakeholders in and outside of the organization.

Lastly, it is important that organizational leaders conduct a postmortem to capture lessons learned to improve future initiatives. Executing purposeful change requires leaders to constantly monitor and experiment, keeping what works and discarding the rest. With these tools and tips under your belt, change becomes just another day at the office!

WESLEY CARTER DM, authors an advice column that leverages leadership and management strategies to solve common business problems. Carter holds a Doctor of Management (DM) degree with an emphasis in Organizational Leadership, an MBA, and a B.A. in Management.  Carter is a partner at KRS Consulting, LLC in Charlotte, NC. If you have a question, email wesley@krsconsult.com . All submissions become the property of Wesley Carter. Call (704) 992-1211 or email to book an engagement. This content originally appeared in the Charlotte Post.

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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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