A Lesson from the US Open

This past weekend I found myself mesmerized by the US Open Golf Championship. Golf is one of those passions I have -- I love playing the game and really enjoy attending PGA Tournament events. In fact, one of my life goals is to attend the Masters Tournament at Augusta -- a goal I have every intention of achieving!

But, this last weekend millions of people were witness to a true exhibition of sporting greatness. Who else to deliver such an amazing performance than Tiger Woods. I have watched Tiger play in many tournaments and have followed him around the course at various tournaments. His US Open performance this past week was one for the record books.

What made this performance so special? Tiger had knee surgery on April 15 of this year. Two months later he is on the course competing for his 14th major championship. Early in the tournament it became apparent Tiger's knee was bothering him. The tournament runs for four days and with each day the knee caused more trouble for him. He fought through it and continued playing and giving it his all. Not only did he continue to play but he kept himself in contention.

The course at Torrey Pines, where the tournament was played, presented a challenge for all the golfers. The golfing was excellent and the lead changed hands many times. But, Tiger did what a champion does -- he played with determination and a passion to win. He refused to talk to the media about the severity of his knee pain but instead wanted to focus on the competition. He refused to make excuses and took responsibility for every shot he made - the good ones as well as the bad ones - and didn't blame it on his health. Tiger made the shots when he needed to and won the championship after an 18-hole playoff and even needed a 19th hole to win the trophy.

Tiger's performance was amazing and made even more so by the fact that he beat the best golfers in the world while still recovering from knee surgery. During the tournament Tiger was interviewed by a reporter who ask him about a particularly great shot he made on Saturday. It was his second shot into the 18th green and it set him up to eagle the hole (2-shots below par.) He made the eagle putt and that shot put him in the lead for the first time.

When the reporter ask him about the shot Tiger said that it was a shot he had been rehearsing with his coach prior to the round. He knew that he might need to use that shot -- a cut shot over the water -- on that particular hole. So, he "rehearsed" it. I found that to be a fascinating way to look at his preparation.

We can learn a lot from Tiger that works well for us in our business and life as well. We need to bring our passion, persistence, perseverance and desire to win with us to work every day. There can be no excuses for poor performance or "missed shots." Stay focused on the job at hand and analyze our strengths as well as our weaknesses to always get better. It is also important to rehearse for the work we need to do and what we need to be prepared for in our business. The rehearsal may be the most important part of all. We can't assume we can succeed at everything we try without rehearsing it. Even if it is something we may have done before, the preparation is critical.

Take a lesson from Tiger, prepare to win everyday and don't let anything get in your way. No excuses! Just a sheer determination and a will to win. That is the sure sign of leadership and success. Make today a great day -- stay focused on your goals and dreams and don't let the missed shots stop you from achieving all the success you desire.

Recession? What Recession?

The other day I attended a business networking function with about 80 other business owners and was struck by how negative the majority of these business people were about the current economic situation. This is a group that is generally very positive, but that day the weight of their concerns started coming out.

Part of the agenda for the meeting was to discuss what we were challenged with in our business right now and brainstorm ideas about what to do about it. We did this in small groups and then shared our thoughts with the larger group. The range of issues was huge. Everything from government regulation and control to the cost of energy and the increasing cost of goods sold through increases being passed to them by suppliers. There were also concerns about the lack of a qualified workforce and the inability to attract and retain good employees. It would be fair to say that most of the people in the room are worried right now.

The power of what I heard that day has stuck with me and prompts me to write this post today. The title of this post -- Recession? What Recession? -- is all about asking you to think about what your current beliefs are. The reality is that we are having some difficulty in our economy right now. I don't think anyone would argue with that. I have felt it in my business and I am sure you are feeling it in yours.

The question is -- what do you believe and what are you doing to find a new solution? You must eliminate from your vocabulary the negative words that bring you down and create barriers to your success. Words like; recession, depression, terrible, out of control, etc. These words will drain your energy and cause you to focus on the negative things around you. Your mind will focus on whatever you spend time thinking about. Think about all the negative things going on in your business or the economy and you will find more of them. This makes it difficult to lift yourself above it and find answers.

However, if you focus on the positive things going on in your business and create positive beliefs, you will be much more likely to uncover ways to deal with your issues. It is about re-solutioning the problem. The old solutions may not work right now. It is up to you to look for new solutions, temporary adjustments, and creative ideas to organize your business most effectively and to promote it. Your attitude will be the biggest driver about how you handle the current realities and how well you position your business for when the current reality changes.

Your job is to be fearless, courageous, undaunted and an eternal optimist. To look for new opportunities where others see nothing but trouble. To create lemonade from the lemons others are serving up. Market like you have never marketed before. Look for creative solutions to those things outside of your control. Train your team and educate yourself in the newest and best ways to market, sell, organize and systematize your business. You will be amazed at how much your business can grow and prosper during times like this with the right focus. When the economy improves you will be very well positioned to take your business to the next level very quickly.

Don't allow others to dictate your reality and your beliefs. We all have a wonderful God given gift ... the gift of choice. You can choose to let the current situation control you or you can choose to create your own results and outcomes. The choice is yours ... what will you choose?

If you would like to learn more about how to take control of your beliefs and create the business and life you want, then pick up a copy of my new book, Achieving Unlimited Success. And give Ralph or me a call if you would like to talk about how an ActionCOACH business coach will lead you through these current challenges. Also, register here to receive my monthly Achieving Unlimited Success monthly email newsletter and a FREE copy of the report "5-Step Success Formula."

To Your Success ...

Twenty-Five Things to Consider When Selling Your Business

My partner, Dennis Kelley and I recently invited a group of clients and strategic alliances to meet with us and Business Broker, Kipp Krukowski from Sunbelt Business Brokers to explore the really important things to consider before selling your business.

In addition to leading the dialogue on what is the value of your business, Kipp told the audience that the time to ready the business for sale is not at the last minute. The right time is perhaps ten years and no less than three years in advance of the proposed sale date.

The fact is it takes considerable planning to sell anything. In particular it takes time, planning and significant effort to sell a business. Kipp has developed a list of 50 things to consider when planning to sell your business – here are the first 25:

1. Understand different types of buyers
2. Understand how to calculate Seller's Discretionary Earnings
3. Understand different ways to value a business
4. Understand that different buyers pay different prices
5. Understand deal structure - asset vs. stock
6. Understand seller financing pros & cons and how to structure
7. Value stream map processes and materials
8. Clean facility
9. Improve appearance on the internet
10. Solidify workforce
11. Cross train employees
12. Create employee manuals
13. Understand the sales process and timeline
14. Emotionally detach from the business
15. Remove non-operating assets
16. Formalize contracts with customers
17. Formalize contracts with suppliers
18. Clean up legal issues
19. Understand the "true" value of the assets
20. Repair / maintain equipment
21. Sell excess inventory/write-off obsolete inventory
22. Collect aging accounts receivable and make them current
23. Remove unnecessary family expenses
24. Understand the "net" after the sale proceeds
25. Create a control plan for quality control

I’ll share the other 25 things sometime in the future. Meanwhile, Dennis and I would be happy to talk with you regarding the planning for selling your business. More importantly we can discuss creating value in your business (before its sale) by using the above considerations.

We call it : “Building a commercial profitable enterprise that works without you.”

When Something is Measured -- it Improves

In the 1930's research was conducted which determined that what is measured will improve. This became known as the Hawthorne Effect and it found that when something is measured it improves, but when it is measured and reported, it improves exponentially. By reporting the information, accountability is instantly incorporated into the measurement.

At first, it can be somewhat uncomfortable or cumbersome to start tracking results. Many times the accuracy of the information is not completely accurate. It takes some time to get it right and make the tracking process efficient. But, over time it becomes easier and the information more reliable. The important thing is to stay with it and don't stop.

What should you track? The answer is simple -- anything that you want to improve! Track anything that has an impact on the efficiency, profitability, service quality or systematization of your business. Determine what is important for you to understand in order to make your business a better business and put the tracking systems in place.

Be sure to use the information though. Tracking the information and then keeping it secret or just putting it in a file somewhere won't maximize your efforts. Report it to anyone and everyone that will benefit from knowing it and can help you improve the area being tracked. By measuring how well you do things in your business you will be able to build a stronger, more efficient and healthier business. Many of the items you track may not directly show up on the bottom line of your financial statements, but the impact will ultimately make the business better and a healthily, efficient and growing business is essential to improving profits and happiness in your business.

Don't hesitate to get an outside perspective on what and how to track all the important things in your business. An outsider perspective can be priceless when it comes to working on the health of your business. As business coaches, my partner Ralph Berge and I have the experience to help you with this. Give us a call and we will be happy to help.

Seize the Moment!

During our business building workshops Business Coach, Dennis Kelley and I ask participants what they consider to be their most valuable asset. We always receive a wide range of responses including: equipment, money, real estate, employees (team) and family….all good answers.

The answer, however, is TIME. It is without doubt our most valuable asset.

Time is the ultimate finite asset…when it’s gone, it’s gone. We are here on this earth for a certain amount of time and it is important that we use our allotment of time wisely.

So how do we best invest our time to get the best return on our investment? First, don’t waste time; and second always be present.

Being present is not as easy. In this age of chronic multi-tasking it is often difficult to keep your mind on the task at hand. Consider the SUV careening down the road with a driver on the cell phone, adjusting the radio and managing the kids in the back seat! Or the business meeting to consider a company’s future direction where Blackberrys are sending and receiving texts. In both cases being present is only an after thought.

Living in the past also leads to short changing the present and the future.

Recognizing that the past cannot be changed is a start, but what can you learn from the days that are gone?

Reliving the past is an all too common habit of trying to change things that have happened in our past. “If I had only stayed with the company”, “what if I did it differently?”, “I wish I had that to do again”, or “If I had only known then what I know now”…are all examples of thoughts relating back to the decisions and actions of the past. But the past is just that, the past. There is not one thing we can do to change history.

Successful people have determined what the value of the past means for today and tomorrow. Being present means taking the action that leads us toward our goals.

Don’t waste your most valuable asset by not paying attention or living in the past or the future. The only place we can be to successfully influence change in our lives and our businesses is NOW. Keep yourself “Above the Line” always work at being present in your thoughts, words and actions.

Seize the Moment!

A Powerful Success Secret

Recently this story came across my desk. I'm not sure where it originated but it tells a great story so it seemed appropriate to share it with you. Take some time to reflect on it's message as it can have a powerful impact on what is so often overlooked ...

During a meeting of top salespeople from around the country, "the grand old man" himself, a man who consistently had the highest sales figures for the last 20 years, and who earned more money than even the owner of his company, got up to speak.

“I'm now going to reveal the secret of my success,” he said. “I wrote it on a piece of paper and put it in this envelope. But success must be earned. So I’m going to sell the envelope to the highest bidder. You have my word that it contains what I said -- the true secret of my success, not only as a salesman, but in life, as well.”

The bidding started slowly ... $5, then $10, then $50, $100, $130, $150, $200, and on it went. Finally, one of his colleagues bought the envelope for $1000. The happy buyer took the envelope, keeping it to himself until he got home that night. Only then did he open it to learn the prized secret of success.

And what do you think was written on that piece of paper?

Think about it. Make a mental note of whatever comes to mind before reading the answer. In fact, what was written on that piece of paper was worth much, much more than $1000.

The winner of the auction tore open the envelope, unfolded the piece of paper and read the following hand-written words:






The secret to success is...to ask.

So many times we look for the complicated answer to our success. Our ActionCOACH coaching programs help business owners look at things from a practical straight-forward viewpoint. Achieving success doesn't have to require complicated formulas and super human effort. Most of the time it is the simple steps that lead to the best results.

And that's worth thinking about ...

People Plus Systems Equal Great Sales …

When you ask the greatest salespeople what their secret is many would answer – personality. But when asked how to quantify and teach personality to others, these super salespeople are often stumped. Teaching great sales involves a major re-education and a focus on systems that make sales simple.

Sales scripts not only increase the sales of top performers but also produce amazing results for the entire team. One rule of thumb, which can be used in selling and in life, is that what you can measure you can manage and grow! The ultimate test of a superior salesperson is how consistent their results are and how consistent the results are for the entire team. Using a sales script achieves this consistency and makes the training of new team members simple and effective.

By introducing a sales system like a script, you can measure conversion on a daily basis and your sales will automatically increase – guaranteed. So, exactly what does a sales script look like, how do you write one and how is it used?

Let’s look at this now.

A sales script is a documented, methodical, learnable, effective system of selling your goods and services. It is a written process on paper designed to give the salesperson control of the call (while the customer ‘feels’ in control) and create a desired result – the sale. It is written by your number one salesperson, in answer to the question – “Exactly what do you say to a prospect to get them to buy your product?” You may even choose to reward your top salesperson for doing this by offering them an incentive such as a percentage of extra sales.

Let us briefly outline key parts of a sales script. Obviously, there are differences between sales scripts used on incoming and outgoing calls; however, I will just explain some of the universally used key Action selling lines taken directly from our sales scripts.

The opening: “Could I just outline the reason for my call?”
Permission: “Would if be okay if we go through the call that way?”
Rapport Building: “What’s your biggest challenge right now in that area?”
Below Waterline: “What's most important to you in…?”
Paraphrase: “Based on what you just told me, it sounds like…”
Temperature Check: “How does that fit with what you had in mind?”
Secure the Sale: “Would it be okay if I give you the steps in getting that process under way?”
Conclude the Encounter: “Thank you and bye for now.”

A script can be read, learned and must be practiced, used, measured and improved (if needed) to increase conversion rate of prospects to customers of all the team. Imagine taking the guess-work out of selling once and for all by using a system which makes your sales results less people dependant and more system dependant.