January 2015 - Vol 10, Issue 1
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Why Bother With Resolutions?
The great thing about January 1 is that most companies reset their business clocks and erase the sins of the past. In theory, the New Year is when initiatives begin, goals are reset, and resolutions come into play. But why? Why wait for the fresh calendar? Why is a clean start on an arbitrary date so important in order to make a necessary change? That's right. it's all psychological. Does that mean, if you neglect to make a change in the New Year, can you put it off for one more? I doubt your shareholders, customers, and employees would agree.

If a New Year's resolution gets you into better shape, more focused, or trying new things - that's great. In business, every day starts a new year if you really think about it. If you resolve this year to be more intentional about your business results, I have one recommendation: Trailing Twelve Months (ttm). When you look at your financials, skip those YTD reports. Celebrate (or lament) every month as the end of a full year. Compare your current ttm metrics to any 12 months in the past. Embrace all your business cycles and their results.

"I resolve to not need resolutions in the future."

Speaking of eliminating resolutions, if you have decided to be serious about your business, then you will attend events that will help you do business better. InfoComm LIVE is not one you can afford to miss.

Success or Failure: It's Up to You
This year's theme for InfoComm LIVE focuses on very specific skills that will help you survive in today's business world. You will navigate three separate EVENTures involving Customer Experience, Contract Negotiations, and Training and Mentoring. After an in-depth look into the skills for each area, EVENTurers can participate in workshops to master some of these survival techniques.

I can't say enough good things about InfoComm's business education events in general. If you are in the Live Events space then InfoComm LIVE is where your peers are coming to learn how to manage a better business. It's where you expand your network, find new strategic partners, and share your ideas. I'll be there learning and networking right beside you. Register now

You Asked for More Sales Training  
Stimson Group is hosting a six-part webinar series on Sales and Marketing. Part Four is on Creating A Better Negotiating Position and airs this Friday, Jan 16th at 2pm EST/ 1pm CST. 

If you have missed previous webinars, then just check out the archives at AV-Matters.com. Click on the link, create an AV-Matters Member login, and off you go. Members get access to exclusive content like archived webinars and free episodes of Around the Table with Tom Stimson

Did you miss last month's webinar? We learned how to: Qualify customers and eliminate useless bidding exercises. Turn marginal prospects into major opportunities. Eliminate the competition by closing before it is their turn to sell. In "Don't Be a Commodity: Dealing with RFPs", you will learn the three basic steps that will improve your customer engagement and close rate. Find the archive here.



Thanks for Reading!

Tom

214-553-7077 direct

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InfoComm LIVE






I hope you will join me at InfoComm LIVE February 25-26 in San Diego. This has become the go-to event for owners and managers in the Live Events space.

Program
Wednesday February 25,
7:00 PM Opening Reception

Thursday February 26
"Driving Customer Experience Transformation"
"Contract Negotiation - Skills, Tools, and Best Practices
"Training and Mentoring"
Plus, Workshops to drive deeper into each topic with the experts themselves!
Beach Party and Dinner to follow - tuck some business cards into your beachwear.

When you sign up, let them know Tom Stimson sent you by using the Promo Code: EXCCR104

 

WEBINAR SERIES: SALES & MARKETING
Creating A Better Negotiating Position

Join us for a Webinar on Friday January 16, 2015 at 2:00 PM EDT/1:00 PM CDT

 

What You Will Learn: 

  • How we lose control of negotiations often before they even start
  • Different client types require different negotiating techniques
  • Customer objections can help you close sooner
  • That rejection may sometimes be the best possible outcome
Register now!     
After registering, you will receive a confirmation email containing information about joining the webinar.

 

Only REGISTRANTS of AV Matters website will receive access to the video archive, the handout, and the White Paper on this topic. Create your LOGIN now.

 

Learn More about this and other upcoming webinars here. 

 

bestpracticesBest Practices Blog
Give me half a day with just about any company and I can easily identify ten
Best Practices Sponsor
easy ways to help them make more money. The steps might involve controlling costs, growing revenue, or developing a line of business, but the routes to success are often very clear. What is equally obvious is that Management doesn't have the time to do these things.

The first consulting inquiry from a potential client usually includes a desire to grow, make more money, and/or just make life easier. "These are all very desirable goals, but what has kept management from doing these things already?" I ask. The top reply...is a lack of time, which translates in my head to, "We don't know how."

Time is the one thing that good managers actually do have. They have the most resources, the most control, and the fewest excuses. Here's why:
  • Managers have the most available time of any employee because they can delegate responsibilities.
  • Managers control the budget and therefore allocate money for important projects.
  • Managers don't need 100% agreement. They simply need to decide.
  • Managers can prioritize learning by delegating better, budgeting smarter, and being a good student themselves.
  • Managers are in charge of do-overs, because of all of the above.
In short, Managers have to lead and anything that keeps him or her from doing their job represents a failure by the Manager to do their job in the first place. Get it? So now that we have adequately placed blame squarely on the right head, let's solve the real problem. Managers struggle with letting go of responsibilities and that eat into their time. "I have to do this, no one else can."

If we can get past this problem, the rest will be easy.

A key obstacle to effective leadership is the fear of mistakes. My attitude is that if you can't tolerate anyone else messing up, don't have employees. More importantly, managers should embrace mistakes. They are great teaching moments, reinforce best practices, and are a catalyst for change. I love mistakes. Thirdly, companies that don't know how to make mistakes often struggle with change in general. "We don't have time to hire another A1, so I am going to work the gig." Really?



The second aspect of not letting go is that many managers simply don't like to manage. They would prefer to be a Salesperson, System Designer, or Audio Engineer. They acknowledge all of their other
these management tasks, but "...at least I can enjoy one of them." I don't recall speaking with an owner or other leader that didn't see the problem with tying themselves up in transactional work, however I have heard most of the excuses about why they should do it anyway. What it comes down to is that they often do not have someone like me that will point out how many mission-critical initiatives won't get done because the owner is out wiring a rack on a job site. All of which brings me back to the underlying issue and our topic today - capacity.

If Leaders, Owners, and Managers focused more on ways to reduce demands on their time, that extra capacity could be used to free up even more time allowing the leader to lead, the manager to manage, and the owner to own. When you make time to do your job, then you will have time to do it better. As you ask yourself, "Why can't my team grow revenue, control costs, or stop making mistakes?" Look in the mirror. If you have the time.

 

Tom Stimson, MBA, CTS, is president of Stimson Group LLC, a Dallas-based management consulting firm specializing in strategy, process improvement, and market research for the Audiovisual Industry. Tom is a Past-President of InfoComm International and a current member of InfoComm's Adjunct Faculty.
 

 

Closing Thoughts

Here's a few scribbles from the margins:

I just read an article by an industry veteran that sent the wrong message. What it said to me is that suppliers need to know their place and not upset the traditional channel. I understand where he is coming from. I see the effects of channel disruption every day. Let me say this about change: Once channel disruption starts, it is not going to stop. Embrace it. See where it's going. Get in front of it. Go faster.

Spotting it is half the battle. When there is a train on the track you are walking on, move.

See you next month, - Tom   

Who's Tom Anyway?
About Thomas R. Stimson, MBA, CTS

Tom Stimson consults with organizations to improve their performance through strategic planning, process improvement, and team development. The Stimson Group provides coaching and tools to companies in the Audiovisual Industry that enable them to define and reach their strategic goals.

Whether you work in the Live Events or the Systems' Integration segments, or serve those companies as a manufacturer or distributor - The Stimson Group provides unparalleled expertise, industry insight, and market research that drive operational efficiencies and increase profitability. 

For more information visit the website.