The Growth Coach

Views From The Growth Coach

 

December, 2010

Greetings!  

In this holiday season I want to say "Thank You" - thank you for reading these, thank your for commenting, thank you for having the faith in your own abilities and the people around you to pursue your dreams. May the coming year bring you joy and contentment.
Irrational Expectations

I find that one of the biggest challenges business owners face is the ability to let go of an idea. Whether it is a marketing strategy, a service, or an employee there's a very natural tendency to believe things will get better. Think of the adage: "Doing the same thing over and over expecting different results is a form of insanity." 

The best advice I've heard was given by Nora Ephron in a recent interview: "Never marry someone you can't imagine divorcing." She said it was actually her sister's advice, but it's a perfect illustration of the problem - and the solution.

In business, as in marriage, we become committed to our decisions - not just financially, also emotionally. Because of that emotional commitment it's hard to make a purely business decision to go in a new direction. Look at all the time and money I've invested! Undisciplined investors have a similar problem in the stock market. They argue that the stock might be down now but it could rebound. The savvy investor looks at the facts - company financials, insider trading, sales projections, etc. - and decides if the odds of that happening are good. If not, he'll sell at a loss and move on.

The business owner needs to have the same discipline, to separate the  business facts from the emotional baggage. She asks: Is this working? If not, can it be fixed? I it can, what do we need to do and when? If it can't, what do we need to do and when? Those are the facts. The decisions that result might affect people and people have emotions. We'll need to deal with that when it happens, but it can't be the basis for our decision.

Separating the facts and the emotions is the key to making good business decisions, decisions based on rational expectations. Have you been making the tough decisions?

Focus on Sales

Expectations are one key to performance in sales. Every product or service has a sales cycle, be it short or long. The person who tries to shorten that cycle does so at his or her own risk. The key to success is constantly confirming where you are in that cycle and responding accordingly. While there are many techniques for shortening the cycle, it is the buyer who makes the decision and controls the outcome. You can only be an influence. Don't expect more.

Networking Tips
The most important tools you bring to your networking are your ability to ask good questions and to listen when someone answers. Holiday parties often become a painful exercise in endurance because the people around you will go on and on about things you have no interest in hearing. What you can do is ask better questions. Networking isn't about selling, it's about gathering information and building relationships. Use your tools!

If you have ideas for future issues or questions on this one, let me know. Who do you know who would enjoy reading these articles? Use the "Forward to a friend" link below.

 

With expectations for your success in the coming year,


Dave Ferguson
The Growth Coach
In This Issue
This Month's Focus
Focus on Sales
Networking Tips
Quick Links
Are you ready for the coming year?

If you a need a plan, or just need to improve the on you have, join my Strategic Planning Workshop December 16. We will spend the day developing your strategic plan based on your unique challenges and  opportunities. You will leave the session with a strategic plan that makes sense for your business and creates a roadmap for achieving your goals.

The cost is only $399 for the day and includes a follow-up individual coaching session to begin implementing your plan.

 

Space is limited so reserve your seat today.

 

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