Greetings!
Shrinking, running or growing. Which is you?
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The 2nd Law of Thermodynamics and You
Shrink it, run it or grow it
| One of three things is happening to every relationship you have - its either shrinking, running or growing. This is easily explained (ok, maybe not so easily) by the 2nd Law of Thermodynamics, which simply states that any system, left to its own devices, will dissipate from organization to disorganization. If we keep investing only the same amount of energy into a system, it will shrink, dissipate, become progressively disorganized. It requires a certain amount additional energy just to keep a system whole, status quo. And it requires even more additional energy to make something grow.
It applies to everything - client relationships, your overall business, your relationship with your spouse or partner, your spirituality, your leadership, your parenting of your children, your health and physical condition. Left unattended, no incremental energy invested, the relationship/system will become progressively disorganized. It will shrink.
Its called Entropy, which loosely refers to the breakdown or increasing disorganization of any system. In practical terms, we gotta work on stuff all the time, or it'll slip away from us. No system can be designed once and for all. Everything is in flux, influenced by entropy, with stimuli from the environment, the competition, changes in client needs, new information. So what constitutes incremental energy? New ideas. New processes. Doing some new things. Stopping doing some old things. Doing more of some things and less of other things. Asking for feedback and then using it. Finding new clients. Serving your current clients in new and better ways. Here's an example from my coaching work with Financial Advisors. These folks are charged with understanding client goals and risk tolerance and then recommending appropriate investments. Once a client is on-boarded, things happen - clients take money out of their account to support their lifestyle, pay their bills; make a major purchase - a home, a boat, a vineyard; they have a life event - a birth, a death, a marriage, a divorce - each of which can require money; fluctuating markets drag down the value of their account and the client gets mad thinking it's their Advisor's fault their portfolio value is down, and they take their account elsewhere. Stuff happens. Financial Advisors manage hundreds of millions of dollars of client assets, yet nothing stays the same. Without finding new clients each and every year, an Advisor's business will automatically shrink 5% - 10% each year. New energies must be invested into finding new clients, new assets, new ways to serve their clients, add value in new and different ways, stay on top of client needs in flux. What do you want to work on to make it grow? Your business? Your client relationships? Your relationship with your spouse/partner? Your relationship with your children or grandchildren? Your spirituality? Your leadership? What are you working on? How's it going? How can I support you?
Contact me to talk about what you want to work on, new possibilities, get out of shrink mode, move away from things that are no longer serving you. I look forward to working with you on it.
Oh yeah, by the way, there are 4 Laws of Thermodynamics. One might think they are numbered 1, 2, 3 and 4. One would be wrong. They are numbered 0, 1, 2 and 3. Those wacky scientists!
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And your value is...?
Can you articulate it? Price it? Deliver it?
| I am a big fan of the work of Leo Pusateri. Leo's work is about discovering your value, being able to articulate your value, pricing your value and delivering your value. Each time. Every time.
In some businesses the value lies in the product itself - the car, the microwave oven, the lawnmower. Even so, the person who helps the buyer make an informed decision adds value.
In other businesses, service-oriented businesses, where the product is less tangible - insurance, investments, legal, medical - the value lies in THE PERSON who provides the service. If you work in a personal relationship business, you owe it to yourself to know and use Leo's work. I am a big fan, HUGE FAN, of Leo and his work. I am deeply indebted to him for his friendship and collegiality over many years. I encourage you to buy his book/CD , invest yourself in discovering, pricing and delivering your value. You owe it to yourself and the people you serve. |
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At the end of the week, it will be Friday, part 3 of 3.
In April, we started talking about Friday actions and proposed part 1 - identify someone who helped you this week and thank them, and (if its a business situation) make sure their manager knows they helped you. May was part 2 - reflect on the big successes of the week and revel in the celebration of them, the positive emotions you felt as a result of the successes.
This month is Part 3 - a new action that will end your week on a high note:
What are your 3 most important goals for next week? Make each goal very clear. What is the VERY NEXT ACTION STEP associated with each goal, and schedule that action step on your calendar, including a due date. Whose help do you need to solicit? Reach out and confirm their availability before you end this week. Align the resources you will need to complete your action steps and achieve your goals.
Interrelate this habit #3 with Habits #1 and #2 (see our newsletter archive) to end your week on a VERY high note. Contact me at Larry Hayes Partners and tell me how that went. I'll report back to you in next month's newsletter some success stories.
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Why should you have a coach? Reasons #9 and #10
The CEO of Google says so
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"Everybody requires a coach. Every famous athlete, every famous performer has someone who is their coach - someone who can ask 'Is that what you really mean?' and provide them perspective. The thing individuals are not necessarily proficient at is seeing themselves as others see them. A coach really, really helps." - Eric Schmidt, CEO of Google
As a very successful CEO, why would someone like Eric Schmidt claim that he requires a coach and thus, why would you? I see executives every day who make incredible strides forward toward their goals by using a professional coach. Their jobs are inspiring, and I am honored to be their partner to make those strides. But a number of you might still wonder what a coach could do for you personally and why you need to invest in a coach for yourself.
In our past few newsletters we listed top reasons to have a coach. You can see them all in our newsletter archive, starting with our February newsletter. This month we conclude with #9 and #10.
9. Your coach is your objective external sounding board to help you safely check out new thoughts, behaviors and ideas, helping you identify what is moving you forward and what seems to be holding you back.
10. Your coach is a witness to your success and encourages the discipline of measuring how well you're progressing, celebrating your achievements, building confidence and accountability for the actions and decisions that move you forward in achieving your goals.
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A notable quote...
"Opportunity is missed by most people because it is dressed in overalls and looks like work." ...Thomas Edison - Inventor |
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Who We AreLarry Hayes Partners, LLC is a Coaching organization, working with private and corporate clients in the areas of Leadership Development and Business Development. We work with leadership teams, high potential talent, and sales people and teams to help them clearly define goals for growth and change, develop action plans, anticipate and work through obstacles, implement actions and measure results. Additionally we are available to do keynote presentations at meetings and conferences, and facilitate offsite meetings. If it is time for you or someone in your organization to work on new goals and change, contact us. Our first session is complimentary. You can see more on our website: Larry Hayes Partners
Sincerely,
Larry Hayes, CPC
Executive Coach and President
Larry Hayes Partners, LLC
 
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