News item: “SPRINT NEXTEL yesterday reported a $29.45 billion fourth-quarter loss and said legions of subscribers continue to abandon its service, many because they can't pay their bills.”
Dan Hesse who took over from Gary Forsee in late 2007 as Sprint Nextel’s CEO has the unpleasant task of presenting more bad news to Wall Street, the media and his shareholders yesterday. Hesse, a veteran of the old (versus new) AT&T, like Forsee, has more than his work cut out for him. While he has announced a number of initiatives – such as consolidating the corporate headquarters in Kansas (currently there are two headquarters locations with one in Reston, Virginia), the turn-around is not yet apparent.
Some steps this management consultant would recommend for SPRINT include:
Stop the Bleeding
Sprint is losing customers due to poor customer service AND a push in the past to offer service to customer with poor credit histories. Retraining and shifting more resources to customer service is a “no brainer”. The issue of customers with poor credit is tougher. Tightening up their standards for new customers AND cracking down on delinquent accounts NOW is essential. Hesse must drive Sprint to take the hit now rather than drag it out over time.
New Products and Offers
Sprint needs to bring in customers and listen to them. They also need to bring in “front line” sales and customer service people and gather their ideas. These efforts should produce a snap shot of customer needs and issues. These then can be prioritized with product management “SWAT Teams” charged to develop new products and offers for maximum market impact.
Resources
The majority of resources should be focused on generating revenue. As such, a top to bottom assessment should be made of all functions, roles, processes and performance results. The goal is not lay-offs or even cost reductions but rather putting most of the resources in areas where they are generating revenues or improving customer satisfaction.
Cost Cutting
Similar to new products and offers, the ideas of the employees – at all levels and across all functions is essential. Everything must be done better, faster and in a totally results-driven manner. These ideas need to be quickly gathered through “SWAT Teams” and then brought to the leadership for real time decisions and action. If there are to be lay-offs and pay freezes or reductions – the actions should begin AT THE TOP, rather than in the ranks. Leadership by example is powerful and all too rare.
Speed
The larger organizations are, the longer time they take to make decisions and then to turn the decisions into actions. Steps must be taken to focus on speed – but not at the cost of quality. The speed to market, the speed to turn decisions into actions, the speed to improve financial and other performance results all must be driven home daily at every level in the organization. Sprint is a big company. Unless they become more nimble, they will be acquired or just die a slow corporate death.
Sprint Nextel’s Dan Hesse would be well served to abandon his “old” AT&T experience and move to embrace the many things that new technology start-ups do right. The old formulas of reorganization, lay-offs of workers and other corporate shell games will not help his company go from Wall Street’s outhouse to the penthouse any time soon.
George F. Franks, III is the President of Franks Consulting Group – a Bethesda, Maryland management consulting and leadership coaching practice. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
George can be contacted by e-mail at:
gfranks@franksconsultinggroup.com
Friday, February 29, 2008
Tuesday, February 26, 2008
Layoffs at Starbucks!
When one thinks of high growth, innovation and the new corporate model – one of the first names that comes to mind is Starbucks. In recent days, Starbucks has been in the news because their CEO has announced layoffs, store closings and a slower pace of growth. What – a corner without a Starbucks coffee shop? The shake-up at Starbucks can serve as a lesson for any business or organization.
Growth
The bigger a company or organization grows, the harder it is to stay true to it’s “roots”. Even if quality and image are strictly controlled – as they are with Starbucks (like McDonalds), there mentality, vision and passion of the corner start-up is difficult to maintain. Having a clear mission and staying true to that mission is essential for every location and every employee.
Core Business
When I think about Starbucks I think about coffee, maybe something to nibble with the coffee and a place to work, meet clients or read the WALL STREET JOURNAL or NEW YORK TIMES. While some people may think of it as a place to buy CDs, coffee mugs, calendars or other items, I do not. And it seems that Starbucks began to stray further from their basics. The point – stick to your knitting (your core business).
People
Starbucks is not about coffee – it is about people. People take the orders, people prepare the coffee, people keep the locations clean, and people manage what could be chaos during busy times. There people are the face of Starbucks – not the CEO and not the headquarters staff. While Starbucks has been very public about how people-oriented they are (benefits, training, respect for employees), there is a slippery slope that will be created by lay-offs. A people oriented business that lays people off and shutters locations can soon become just like any other fast food outlet or massive retail chain – cold, impersonal and full of clock watchers.
Overhead
Organizations that grow love to create new positions, new rules, and new bureaucracies and new titles (each requiring their own staffs for “support”). This is not unique to Starbucks. But every dollar that goes to overhead steals a dollar from the customer-facing resources and also from the profitability of the enterprise. Headquarters, regions, areas – each with their own functions, executives and support staffs drain the life out of any business rather than invigorate them. As a business grows, unless every function can demonstrate in some way there are generating revenue or creating value, I recommend the function either be outsourced to support business with that core competency or incremental to “line” (profit-focused) responsibilities.
Down-sizing people and locations will not be the death of Starbucks. But any business or organization can learn from downside of rapid growth as demonstrated by Starbucks. The tendency to grow quickly, lose focus, to treat employees as overhead, to build non-customer facing staffs are not unique to Starbucks. But any entrepreneur or executive with a growing business would be well served to avoid the same pitfalls.
George F. Franks, III is the President of Franks Consulting Group, a Bethesda, Maryland management consulting and leadership coaching practice. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
George can be contacted by e-mail at:
gfranks@franksconsultinggroup.com
Growth
The bigger a company or organization grows, the harder it is to stay true to it’s “roots”. Even if quality and image are strictly controlled – as they are with Starbucks (like McDonalds), there mentality, vision and passion of the corner start-up is difficult to maintain. Having a clear mission and staying true to that mission is essential for every location and every employee.
Core Business
When I think about Starbucks I think about coffee, maybe something to nibble with the coffee and a place to work, meet clients or read the WALL STREET JOURNAL or NEW YORK TIMES. While some people may think of it as a place to buy CDs, coffee mugs, calendars or other items, I do not. And it seems that Starbucks began to stray further from their basics. The point – stick to your knitting (your core business).
People
Starbucks is not about coffee – it is about people. People take the orders, people prepare the coffee, people keep the locations clean, and people manage what could be chaos during busy times. There people are the face of Starbucks – not the CEO and not the headquarters staff. While Starbucks has been very public about how people-oriented they are (benefits, training, respect for employees), there is a slippery slope that will be created by lay-offs. A people oriented business that lays people off and shutters locations can soon become just like any other fast food outlet or massive retail chain – cold, impersonal and full of clock watchers.
Overhead
Organizations that grow love to create new positions, new rules, and new bureaucracies and new titles (each requiring their own staffs for “support”). This is not unique to Starbucks. But every dollar that goes to overhead steals a dollar from the customer-facing resources and also from the profitability of the enterprise. Headquarters, regions, areas – each with their own functions, executives and support staffs drain the life out of any business rather than invigorate them. As a business grows, unless every function can demonstrate in some way there are generating revenue or creating value, I recommend the function either be outsourced to support business with that core competency or incremental to “line” (profit-focused) responsibilities.
Down-sizing people and locations will not be the death of Starbucks. But any business or organization can learn from downside of rapid growth as demonstrated by Starbucks. The tendency to grow quickly, lose focus, to treat employees as overhead, to build non-customer facing staffs are not unique to Starbucks. But any entrepreneur or executive with a growing business would be well served to avoid the same pitfalls.
George F. Franks, III is the President of Franks Consulting Group, a Bethesda, Maryland management consulting and leadership coaching practice. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
George can be contacted by e-mail at:
gfranks@franksconsultinggroup.com
Tuesday, February 19, 2008
Real Team Building
Much has been written about teams and team building over the past decade. Much of it has been either based on psychology or corporations. I have nothing against psychologists. And I myself, spent many years working for large corporations. But to understand teams and team building you need to understand what teams are, how they form and what makes them successful.
What are teams?
Teams are groups of people brought together to achieve a common goal, objective or purpose. Teams can be large. Teams can be small. Teams can be global or they can be local and co-located. Teams can be people who are all different. And teams can be people who are all of very different backgrounds. So what makes a group of individuals a team? Teams differ from groups of people in that they are brought together or they gather together to achieve a specific purpose as that group.
What do teams look like?
The very best teams have different educations, backgrounds and experiences. They come together to achieve a common purpose. They commit to subjugating their individual needs, goals and desires to those of the group. This does not mean that they do not have individual needs, goals and desires. They do. They just make them secondary to those of the group. The best teams often:
- Meet as a group face-to-face when forming.
- They have many events where they internalize their goals, objectives or purpose.
- They clearly define “success” for the group.
- They establish effective means of communications.
- They define what is common to all members versus what is specialized by individual to achieve their goals.
- They bond through socializing rituals (such as meals, activities or like events).
- They establish success rules (time lines, targets, rewards, roles, priorities, how to communicate outside of the team as examples).
- They define ways to maintain team effectiveness (future face-to-face meetings, regularly scheduled conference calls, group “touch points” and other communal activities).
What do the best teams do right?
The very best teams achieve their goal, objective or purpose through a singular focus, effective communication, flexibility, encouraging innovation by all and displaying respect for all members. Specifically they:
- Set high standards for all members and help one another achieve those standards.
- They do not tolerate those who do not carry at least their share of the “burden” (work).
- They respect input by all but do so in a crisp and disciplined manner.
- They make sure all members of the group know and have internalized the goal, purpose or objectives.
- They make sure all communication is clear, effective and timely.
- They insure that all members clearly understand all roles and responsibilities but are willing to modify them based on the needs of the group to achieve the objective.
- They do not tolerate egos based on prior performance. Every member has to earn their slot every single day.
- Members of the group treat the other members with respect and integrity. Lapses are not tolerated.
- A group mindset that “failure is not an option” is maintained from day one.
Why teams fail?
The list of reasons why teams fail is like a grocery list of human weaknesses and failings. The key reasons that teams fail include:
- Lack of a clearly defined purpose, goal or objective.
- “Team” members who spend less than 51% of their time working with the team.
- Lack of clear or timely communication.
- Team rituals (fun, awards, and other recognition) override the goal, mission or purpose as the reason for the team.
- Egos (putting self before the team rather than subordinating to the goals and needs of the team).
- Sub-elements within the team with agendas other than the goal, purpose or objective.
- Lack of respect for innovation.
- Lack of ability to change as needed (flexibility).
- Lack of integrity by any team member.
- “Failure” mentality as opposed to “success” mentality.
Many companies, organizations and other groups try to spend part of a day or a weekend together once a year to “team build”. Team building is not about a day or even a weekend. For a group to become a team and then to succeed as a team requires many elements – including time and often shared adversity – for an organization of any size. By applying the elements outlined in this article, any organization can more effectively operate at the “team” level.
George F. Franks, III is the President of Franks Consulting Group - a Bethesda, Maryland management consulting and leadership coaching practice. Franks Consulting Group's clients are businesses, associations, other non-profit organizations and individual leaders. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
George can be contacted by e-mail at:
gfranks@franksconsultinggroup.com
Visit Franks Consulting Group's free quarterly career and leadership e-zine:
http://careerandleadership.com
What are teams?
Teams are groups of people brought together to achieve a common goal, objective or purpose. Teams can be large. Teams can be small. Teams can be global or they can be local and co-located. Teams can be people who are all different. And teams can be people who are all of very different backgrounds. So what makes a group of individuals a team? Teams differ from groups of people in that they are brought together or they gather together to achieve a specific purpose as that group.
What do teams look like?
The very best teams have different educations, backgrounds and experiences. They come together to achieve a common purpose. They commit to subjugating their individual needs, goals and desires to those of the group. This does not mean that they do not have individual needs, goals and desires. They do. They just make them secondary to those of the group. The best teams often:
- Meet as a group face-to-face when forming.
- They have many events where they internalize their goals, objectives or purpose.
- They clearly define “success” for the group.
- They establish effective means of communications.
- They define what is common to all members versus what is specialized by individual to achieve their goals.
- They bond through socializing rituals (such as meals, activities or like events).
- They establish success rules (time lines, targets, rewards, roles, priorities, how to communicate outside of the team as examples).
- They define ways to maintain team effectiveness (future face-to-face meetings, regularly scheduled conference calls, group “touch points” and other communal activities).
What do the best teams do right?
The very best teams achieve their goal, objective or purpose through a singular focus, effective communication, flexibility, encouraging innovation by all and displaying respect for all members. Specifically they:
- Set high standards for all members and help one another achieve those standards.
- They do not tolerate those who do not carry at least their share of the “burden” (work).
- They respect input by all but do so in a crisp and disciplined manner.
- They make sure all members of the group know and have internalized the goal, purpose or objectives.
- They make sure all communication is clear, effective and timely.
- They insure that all members clearly understand all roles and responsibilities but are willing to modify them based on the needs of the group to achieve the objective.
- They do not tolerate egos based on prior performance. Every member has to earn their slot every single day.
- Members of the group treat the other members with respect and integrity. Lapses are not tolerated.
- A group mindset that “failure is not an option” is maintained from day one.
Why teams fail?
The list of reasons why teams fail is like a grocery list of human weaknesses and failings. The key reasons that teams fail include:
- Lack of a clearly defined purpose, goal or objective.
- “Team” members who spend less than 51% of their time working with the team.
- Lack of clear or timely communication.
- Team rituals (fun, awards, and other recognition) override the goal, mission or purpose as the reason for the team.
- Egos (putting self before the team rather than subordinating to the goals and needs of the team).
- Sub-elements within the team with agendas other than the goal, purpose or objective.
- Lack of respect for innovation.
- Lack of ability to change as needed (flexibility).
- Lack of integrity by any team member.
- “Failure” mentality as opposed to “success” mentality.
Many companies, organizations and other groups try to spend part of a day or a weekend together once a year to “team build”. Team building is not about a day or even a weekend. For a group to become a team and then to succeed as a team requires many elements – including time and often shared adversity – for an organization of any size. By applying the elements outlined in this article, any organization can more effectively operate at the “team” level.
George F. Franks, III is the President of Franks Consulting Group - a Bethesda, Maryland management consulting and leadership coaching practice. Franks Consulting Group's clients are businesses, associations, other non-profit organizations and individual leaders. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
George can be contacted by e-mail at:
gfranks@franksconsultinggroup.com
Visit Franks Consulting Group's free quarterly career and leadership e-zine:
http://careerandleadership.com
Thursday, February 14, 2008
The Myth of Consolidating "Headquarters"
The buzz in telecom, especially in the Washington, DC metro area, is about Sprint-Nextel closing their Reston, Virginia headquarters location and shifting the focus to Overland Park, Kansas. While Sprint-Nextel is as good a textbook case as any on how NOT to integrate two large companies following an acquisition, the issue of retaining two headquarters is of particular interest.
Why ONE headquarters location? Other than the symbolism and the potential cost savings, it is fascinating that a technology company refuses to embrace technology themselves. Some points that the current and previous Sprint-Nextel executives should have considered include:
- Executives should be out with customers, employees and investors, rather than sitting in any headquarters location.
- Technology allows for both audio and video conference calls from anywhere at anytime.
- The idea of a singe headquarters location is as archaic as castles, forts and bunkers.
- Many companies no longer have a single, sacred board room but rather meet at a location where board members can stay overnight (the outsourcing of board rooms).
- Staffs, like headquarters are now virtual. There is no reason why a CEO cannot be in Silicon Valley, the CFO in New York and the Sales and Marketing Chief be in London while their staffs, perhaps with the exception of the Executive Assistants could be anywhere globally if they are truly the best and the brightest.
- If and when “all hands” executive meetings are held, they are best held, like board meetings, at an outsourced location where all can be away from the disruptions of any office and focus on the tasks at hand.
If technology has freed executives and their staffs from being “hard wired” to their offices, it does indeed appear odd that executives still claim the need and benefits of being co-located at a “headquarters” facility.
Why ONE headquarters location? Other than the symbolism and the potential cost savings, it is fascinating that a technology company refuses to embrace technology themselves. Some points that the current and previous Sprint-Nextel executives should have considered include:
- Executives should be out with customers, employees and investors, rather than sitting in any headquarters location.
- Technology allows for both audio and video conference calls from anywhere at anytime.
- The idea of a singe headquarters location is as archaic as castles, forts and bunkers.
- Many companies no longer have a single, sacred board room but rather meet at a location where board members can stay overnight (the outsourcing of board rooms).
- Staffs, like headquarters are now virtual. There is no reason why a CEO cannot be in Silicon Valley, the CFO in New York and the Sales and Marketing Chief be in London while their staffs, perhaps with the exception of the Executive Assistants could be anywhere globally if they are truly the best and the brightest.
- If and when “all hands” executive meetings are held, they are best held, like board meetings, at an outsourced location where all can be away from the disruptions of any office and focus on the tasks at hand.
If technology has freed executives and their staffs from being “hard wired” to their offices, it does indeed appear odd that executives still claim the need and benefits of being co-located at a “headquarters” facility.
Tuesday, February 12, 2008
Business, Leadership and the Writers' Strike
The end of the writers’ strike, which brought the world of entertainment to a near standstill in the USA, brings several points to mind for managers and executives in all industries and markets.
- Understand the needs of your suppliers – both internal and external.
- While the bottom line is often shareholder value, it is essential to understand those who contribute and how they benefit the overall enterprise.
- Listen.
- If you say “no”, make sure you understand all the potential consequences.
- Never underestimate the power of any group (writers, customers, regulatory agencies, production workers, parts suppliers, etc.) to bring your business to a halt.
- Always have a “Plan B” and ideally a Plan C” too.
- Even after you say “no” be willing to negotiate.
Obviously many articles, white papers and books will be written about the writers’ strike. Perhaps even a couple of movies too. Hopefully, managers and executives beyond the world of entertainment will learn some lessons from the event.
- Understand the needs of your suppliers – both internal and external.
- While the bottom line is often shareholder value, it is essential to understand those who contribute and how they benefit the overall enterprise.
- Listen.
- If you say “no”, make sure you understand all the potential consequences.
- Never underestimate the power of any group (writers, customers, regulatory agencies, production workers, parts suppliers, etc.) to bring your business to a halt.
- Always have a “Plan B” and ideally a Plan C” too.
- Even after you say “no” be willing to negotiate.
Obviously many articles, white papers and books will be written about the writers’ strike. Perhaps even a couple of movies too. Hopefully, managers and executives beyond the world of entertainment will learn some lessons from the event.
Monday, February 11, 2008
Hire Like a NFL Team Owner
There has been a lot in the media lately about Washington Redskins owner Dan Snyder, a successful business entrepreneur, interviewing candidates for his team’s head coach position. There have been stories about the 32-day search and twenty-eight hours of interviews per candidate until Jim Zorn was selected. What are the lessons from this for hiring managers for businesses and other organizations? Take all the time you need to find the right people for your key jobs and do not delegate the time-consuming task to either the human resources department or your underlings. The interview process is only worthwhile if it allows the hiring manager to determine the following…
Skills
A resume can only tell you so much. What are the job candidate’s skills? A face-to-face, eyeball-to-eyeball interview can tell you more than all the resumes and phone calls in the world. Having the prerequisite skills, as defined by the hiring manager, is essential.
Personality
No resume can speak to a candidate’s personality. Are they passive, aggressive, rebellious, and innovative or a “yes” person? An interview with a number of questions and scenarios followed up with informal interactions, such as over a meal, can reveal quite a bit about a job candidate’s true personality. This is not something that comes out over a one hour interview with a set of “canned” questions.
Drive
What motivates a job candidate to get up in the morning and to do not only what is expected but to take the initiative? Do they have a “fire” burning inside of them? Are they motivated to give 110% every single day? Multiple interviews over a period of time will directly and indirectly reveal the answers to these important questions for any position.
Experience
Job candidates can have skills and not experience. They can even have experience but not the skills. The combination of both skills AND experience is unbeatable. Again, a resume can only tell so much. An exhaustive interview process will speak volumes in terms of real hands-on, done successfully (or perhaps learned from failing) experience in a field, functional areas or leadership position.
Attitude
It is nearly impossible to pick up on a job candidate’s attitude from a resume or even a screening telephone call. What kind of attitude will complement the organization? There is no one right answer, but attitude is important. Generally, a positive, can-do attitude is ideal. But that must be balanced with a degree of pragmatism and shrewdness for most leadership or other key positions.
Persistence
Job candidates who have had a record of success, according to their resumes or personal references may not necessarily be persistent. Some have been fortunate to have been at the right place at the right time. Those job candidates who have, time and again, demonstrated persistence are often valued by hiring managers – especially for when things get tough.
Goals
Every organization has long term and short term goals. Most, if not all, successful people have short and long term goals also. These may not be overt on a resume or through a reference. The goals of the individual and of the hiring organization must be in alignment. If they are not, then the fit will not be a good or successful one.
Weaknesses
Individuals being human have weaknesses. To determine what they are you must look beyond a resume or a phone interview. Formal and informal interviews and related exchanges and observations help to identify a job candidates weaknesses. A love of drink? A habit of gambling? Laziness? Slovenliness? Lateness? Disorganization? Or perhaps treating others badly? The list is endless. But faults and weaknesses must be identified before a candidate is hired to determine if they are contrary to the culture and needs of the organization and pressures of the position.
Style
Every successful person has their own personal style. It may be low key. It may be flashy. It may be loud. It may be introverted and analytical. Also every company culture or other organization has its own “image” or style. A good fit between individual style and an organization’s culture is not essential but tends to be beneficial (although there are exceptions). An extended face-to-face interview process is an opportunity to directly observe a candidate’s personal style.
You may not be as rich or powerful as Dan Snyder, you may not be a NFL team owner and your may not be hiring a head football coach. But you should take hiring any candidate for a position in your business or organization just a seriously as Snyder did for the Redskins. Taking the time to personally and exhaustively interview candidates for jobs will pay dividends in terms of “winning” in the increasingly competitive marketplace regardless of your industry, sector or field.
George F. Franks, III is the President of Franks Consulting Group, a Bethesda, Maryland management consulting and leadership coaching practice. Franks Consulting Group’s clients include businesses, associations, other non-profit organization and individual leaders. George is a member of the Institute of Management Consultants (USA), Telecom Hub and the Maryland Society of Association Executives. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
George can be contacted by e-mail at:
gfranks@franksconsultinggroup.com
Skills
A resume can only tell you so much. What are the job candidate’s skills? A face-to-face, eyeball-to-eyeball interview can tell you more than all the resumes and phone calls in the world. Having the prerequisite skills, as defined by the hiring manager, is essential.
Personality
No resume can speak to a candidate’s personality. Are they passive, aggressive, rebellious, and innovative or a “yes” person? An interview with a number of questions and scenarios followed up with informal interactions, such as over a meal, can reveal quite a bit about a job candidate’s true personality. This is not something that comes out over a one hour interview with a set of “canned” questions.
Drive
What motivates a job candidate to get up in the morning and to do not only what is expected but to take the initiative? Do they have a “fire” burning inside of them? Are they motivated to give 110% every single day? Multiple interviews over a period of time will directly and indirectly reveal the answers to these important questions for any position.
Experience
Job candidates can have skills and not experience. They can even have experience but not the skills. The combination of both skills AND experience is unbeatable. Again, a resume can only tell so much. An exhaustive interview process will speak volumes in terms of real hands-on, done successfully (or perhaps learned from failing) experience in a field, functional areas or leadership position.
Attitude
It is nearly impossible to pick up on a job candidate’s attitude from a resume or even a screening telephone call. What kind of attitude will complement the organization? There is no one right answer, but attitude is important. Generally, a positive, can-do attitude is ideal. But that must be balanced with a degree of pragmatism and shrewdness for most leadership or other key positions.
Persistence
Job candidates who have had a record of success, according to their resumes or personal references may not necessarily be persistent. Some have been fortunate to have been at the right place at the right time. Those job candidates who have, time and again, demonstrated persistence are often valued by hiring managers – especially for when things get tough.
Goals
Every organization has long term and short term goals. Most, if not all, successful people have short and long term goals also. These may not be overt on a resume or through a reference. The goals of the individual and of the hiring organization must be in alignment. If they are not, then the fit will not be a good or successful one.
Weaknesses
Individuals being human have weaknesses. To determine what they are you must look beyond a resume or a phone interview. Formal and informal interviews and related exchanges and observations help to identify a job candidates weaknesses. A love of drink? A habit of gambling? Laziness? Slovenliness? Lateness? Disorganization? Or perhaps treating others badly? The list is endless. But faults and weaknesses must be identified before a candidate is hired to determine if they are contrary to the culture and needs of the organization and pressures of the position.
Style
Every successful person has their own personal style. It may be low key. It may be flashy. It may be loud. It may be introverted and analytical. Also every company culture or other organization has its own “image” or style. A good fit between individual style and an organization’s culture is not essential but tends to be beneficial (although there are exceptions). An extended face-to-face interview process is an opportunity to directly observe a candidate’s personal style.
You may not be as rich or powerful as Dan Snyder, you may not be a NFL team owner and your may not be hiring a head football coach. But you should take hiring any candidate for a position in your business or organization just a seriously as Snyder did for the Redskins. Taking the time to personally and exhaustively interview candidates for jobs will pay dividends in terms of “winning” in the increasingly competitive marketplace regardless of your industry, sector or field.
George F. Franks, III is the President of Franks Consulting Group, a Bethesda, Maryland management consulting and leadership coaching practice. Franks Consulting Group’s clients include businesses, associations, other non-profit organization and individual leaders. George is a member of the Institute of Management Consultants (USA), Telecom Hub and the Maryland Society of Association Executives. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
George can be contacted by e-mail at:
gfranks@franksconsultinggroup.com
Friday, February 08, 2008
Your Business Can Thrive During the Economic Downturn
The natural inclination of business leaders during an economic downturn is to cut people, programs and reorganize. Examples of this are in the newspapers and web sites daily: Alcatel-Lucent, AOL, Sprint, the airlines, Dell, Discovery Communications and many other companies plus countless medium and small business which never hit the media. There are alternatives to cutting and pulling back during an economic downturn.
Strategy
Review your business’s strategy. Does it make sense? Can it be executed? Is it too “pie in the sky”. And how does it address your markets and your businesses core strengths? A clear strategic plan is the basis for success in good times – and bad.
Execution
The best strategic and business plans are worthless without execution. Do you have measurements or metrics in place to measure performance against financial AND operational targets (objectives)? Which are hitting the mark and which are not? Why? Who is accountable? And what is being done to address weak areas of performance?
Customers
It seems that during a downturn in the economy businesses of all sizes are quick to put customers – those who pay the bills – last. No! This is the time to re-evaluate what your business is doing to delight your customers. No matter the business, product or service – your customers have choices. Take the steps necessary to make you business their FIRST choice. To do this, ask THEM how you are doing and what can be done to improve it.
Cost and Expense
Businesses are quick to cuts expenses and people when there is softness in the economy. This is so easy, that a kid with a lemonade stand can do it. But it is often NOT the right answer. First look at where resources are deployed. Most resources should be involved in driving revenue and delighting your customers. Keep you overheads to a minimum. If that means redeploy and retrain, it should be done. Secondly, before there are lay-offs cut the contractors and consultants first and do the work in-house. Also, cut salaries and bonuses at the top of the organization first. The biggest cuts should be among the biggest bosses – not the customer-facing clerks and sales reps. Finally, ask for input, the people on the floor and in the back office usually know where the biggest opportunities for REAL efficiencies exist. Ask them, act on their recommendations and recognize them for their ideas.
Speed
It is amazing to me to read what the USA did to mobilize resources in a very short time during World War II on the home front. Factories went from making cars and refrigerators to making tanks and aircraft in huge quantities in amazingly short time frames. This was before computers as we know them today. So why does everything (except perhaps the internet) take so long today? The time frames required to develop new products and services are often years rather than months. Look at whatever time is required in your business today and cut it by 25% to 50% while maintaining the same level of quality if not better. It can be done. And it is a competitive advantage.
Innovation
It is the natural tendency of businesses of all sizes to take fewer risks when times are lean. This includes new and innovative ideas for products, services, marketing and doing business. The BEST time for risk taking and innovation is when the economy is challenging. While most businesses retrench, those that take risks and push innovation stand out among their competition. And innovation is not limited to research and development or marketing, it should encompass all functions and aspects of any business.
Downturn, recession, soft economy. All of these terms drive chills through most business people at any level. In fact, even money is tighter and market opportunities shrink, there are winners and losers in both good and not so good economies. By addressing the areas of: strategy, execution, customers, cost and expense, speed and innovation, any company – regardless of size, market or industry – can be a winner during an economic downturn.
George F. Franks, III is the President of Franks Consulting Group, a management consulting and leadership coaching practice. Franks Consulting Group's clients include businesses of all sizes across a variety of industries, associations and other non-profit organizations and individual leaders. George is a member of the Institute of Management Consultants (USA). His web site is:
http://franksconsultinggroup.com
He can be contacted by e-mail at: gfranks@franksconsultinggroup.com
Franks Consulting Group publishes a free quarterly e-zine:
http://careerandleadership.com
Strategy
Review your business’s strategy. Does it make sense? Can it be executed? Is it too “pie in the sky”. And how does it address your markets and your businesses core strengths? A clear strategic plan is the basis for success in good times – and bad.
Execution
The best strategic and business plans are worthless without execution. Do you have measurements or metrics in place to measure performance against financial AND operational targets (objectives)? Which are hitting the mark and which are not? Why? Who is accountable? And what is being done to address weak areas of performance?
Customers
It seems that during a downturn in the economy businesses of all sizes are quick to put customers – those who pay the bills – last. No! This is the time to re-evaluate what your business is doing to delight your customers. No matter the business, product or service – your customers have choices. Take the steps necessary to make you business their FIRST choice. To do this, ask THEM how you are doing and what can be done to improve it.
Cost and Expense
Businesses are quick to cuts expenses and people when there is softness in the economy. This is so easy, that a kid with a lemonade stand can do it. But it is often NOT the right answer. First look at where resources are deployed. Most resources should be involved in driving revenue and delighting your customers. Keep you overheads to a minimum. If that means redeploy and retrain, it should be done. Secondly, before there are lay-offs cut the contractors and consultants first and do the work in-house. Also, cut salaries and bonuses at the top of the organization first. The biggest cuts should be among the biggest bosses – not the customer-facing clerks and sales reps. Finally, ask for input, the people on the floor and in the back office usually know where the biggest opportunities for REAL efficiencies exist. Ask them, act on their recommendations and recognize them for their ideas.
Speed
It is amazing to me to read what the USA did to mobilize resources in a very short time during World War II on the home front. Factories went from making cars and refrigerators to making tanks and aircraft in huge quantities in amazingly short time frames. This was before computers as we know them today. So why does everything (except perhaps the internet) take so long today? The time frames required to develop new products and services are often years rather than months. Look at whatever time is required in your business today and cut it by 25% to 50% while maintaining the same level of quality if not better. It can be done. And it is a competitive advantage.
Innovation
It is the natural tendency of businesses of all sizes to take fewer risks when times are lean. This includes new and innovative ideas for products, services, marketing and doing business. The BEST time for risk taking and innovation is when the economy is challenging. While most businesses retrench, those that take risks and push innovation stand out among their competition. And innovation is not limited to research and development or marketing, it should encompass all functions and aspects of any business.
Downturn, recession, soft economy. All of these terms drive chills through most business people at any level. In fact, even money is tighter and market opportunities shrink, there are winners and losers in both good and not so good economies. By addressing the areas of: strategy, execution, customers, cost and expense, speed and innovation, any company – regardless of size, market or industry – can be a winner during an economic downturn.
George F. Franks, III is the President of Franks Consulting Group, a management consulting and leadership coaching practice. Franks Consulting Group's clients include businesses of all sizes across a variety of industries, associations and other non-profit organizations and individual leaders. George is a member of the Institute of Management Consultants (USA). His web site is:
http://franksconsultinggroup.com
He can be contacted by e-mail at: gfranks@franksconsultinggroup.com
Franks Consulting Group publishes a free quarterly e-zine:
http://careerandleadership.com
Saturday, February 02, 2008
Business Etiquette 101
Today, most people pay little attention to social or business etiquette. While some elements of traditional etiquette may seem dates and pre-“high tech”, they are worth reviewing – and incorporating into your daily business life.
Telephone calls
With the exception of “cold calls”, all calls received should be returned within no more than twenty-four hours. This applies to “internal” and “external” calls. Of course, calls to customers – current and potential – should be returned first.
Office Visits
When visiting someone’s office, whether a customer, boss or “internal” customer, take no more time than is absolutely necessary. Treat other’s time as if it were your own.
Bids
When you bid on a job, follow-up directly with the potential client or customer. When you are in receipt of a bid, follow-up with the vendor or consultant whether they win it or not. If the bid is delayed, communicate this fact to the vendor or consultant.
Resumes
When you post a job opening and you interview someone by telephone (screening) or face-to-face, follow-up the interview with either a call or e-mail. When you have selected a candidate, let those you interviewed who did not get the job know that you selected someone else.
Meetings
Schedule no more meetings than absolutely necessary. Make your meetings brief and to the point with an agenda and a time limit.
Conference Calls
Schedule conference calls when they are most convenient for all participants. If you have participants globally, schedule them at different times to share the inconvenience among all participants. Send out an agenda and time limit in advance. Make sure all participants are on time and remain for the entire call.
Customers
The customer is first in all things. Ahead of the boss. Ahead of subordinates. Ahead of suppliers. Even ahead of your family and personal life. They pay the bills. Do not ever inconvenience a customer.
Email
E-mail is both a blessing and a curse. Those who worked prior to e-mail remember regular mail drops and office couriers. Respond to all customer e-mails within no more than twenty-four hours. Respond to all other e-mail sent directly to you (excluding “spam” and mass group e-mailings) within forty-eight hours. Only address emails to those who absolutely need the information (response, request or whatever) within them.
Time
Respect the time of others. If you are going to be late, call them to let them know. If you must leave a meeting early, let the “owner” of the meeting know in advance. And if an appointment or meeting must be cancelled, let the participants know as far in advance as possible so they can rearrange their schedules.
Business etiquette may seem basic but increasingly, business people think of themselves and not others. Not their clients or customers. Not their employees. And not their vendors or suppliers. Business etiquette is often rewarded by others behaving in a similar manner. Take the first step by making an example through your actions and those of your team.
George F. Franks, III is the President of Franks Consulting Group – a management consulting and leadership coaching practice. Franks Consulting Group’s clients include businesses, associations and other non-profit organizations and individual leadership. George is a member if the Institute of Management Consultants (USA). He can be contacted at:
gfranks@franksconsultinggroup.com
Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
Telephone calls
With the exception of “cold calls”, all calls received should be returned within no more than twenty-four hours. This applies to “internal” and “external” calls. Of course, calls to customers – current and potential – should be returned first.
Office Visits
When visiting someone’s office, whether a customer, boss or “internal” customer, take no more time than is absolutely necessary. Treat other’s time as if it were your own.
Bids
When you bid on a job, follow-up directly with the potential client or customer. When you are in receipt of a bid, follow-up with the vendor or consultant whether they win it or not. If the bid is delayed, communicate this fact to the vendor or consultant.
Resumes
When you post a job opening and you interview someone by telephone (screening) or face-to-face, follow-up the interview with either a call or e-mail. When you have selected a candidate, let those you interviewed who did not get the job know that you selected someone else.
Meetings
Schedule no more meetings than absolutely necessary. Make your meetings brief and to the point with an agenda and a time limit.
Conference Calls
Schedule conference calls when they are most convenient for all participants. If you have participants globally, schedule them at different times to share the inconvenience among all participants. Send out an agenda and time limit in advance. Make sure all participants are on time and remain for the entire call.
Customers
The customer is first in all things. Ahead of the boss. Ahead of subordinates. Ahead of suppliers. Even ahead of your family and personal life. They pay the bills. Do not ever inconvenience a customer.
E-mail is both a blessing and a curse. Those who worked prior to e-mail remember regular mail drops and office couriers. Respond to all customer e-mails within no more than twenty-four hours. Respond to all other e-mail sent directly to you (excluding “spam” and mass group e-mailings) within forty-eight hours. Only address emails to those who absolutely need the information (response, request or whatever) within them.
Time
Respect the time of others. If you are going to be late, call them to let them know. If you must leave a meeting early, let the “owner” of the meeting know in advance. And if an appointment or meeting must be cancelled, let the participants know as far in advance as possible so they can rearrange their schedules.
Business etiquette may seem basic but increasingly, business people think of themselves and not others. Not their clients or customers. Not their employees. And not their vendors or suppliers. Business etiquette is often rewarded by others behaving in a similar manner. Take the first step by making an example through your actions and those of your team.
George F. Franks, III is the President of Franks Consulting Group – a management consulting and leadership coaching practice. Franks Consulting Group’s clients include businesses, associations and other non-profit organizations and individual leadership. George is a member if the Institute of Management Consultants (USA). He can be contacted at:
gfranks@franksconsultinggroup.com
Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
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