Monthly Archives: February 2012

Info Exchange – Win: Part 2 of 2

Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics. 

 
Loyalty Factor has been instrumental in helping companies:

  • Increase Customer Satisfaction by 20 – 33%
  • Increase Revenues by 50% in 18 months
  • Increase Manufacturing Production by 200% in 18 months

Our information exchange this week highlights the book, “Win: The Key Principles to Take Your Business from Ordinary to Extraordinary” by Frank I. Luntz. This is part two of a two part series.

 

In Luntz’s book Win he describes the nine P’s of winning and what it takes to get to the top. Winners are never satisfied with the status quo and they always pursue more. Better. Higher. Faster. Easier. They do this by engaging and inspiring the people who work with them and for them.

 

The Nine P’s Of Winning

 

  1. People-Centeredness. The job of all winning communicators is to recognize what is missing in the lives of others and then try to address it.
     
  2. Paradigm Breaking. Winners don’t accept the world for what it is. They’re driven by their ideas of how the world should be. Their vision becomes a mission and that mission reshapes the human experience. If you’re not asking “Why not?,” you’re not in the winning mentality.
     
  3. Prioritization. Winners know how to separate what must be done from what should be done.
     
  4. Perfection. If you’re not driven to perfection, you’ll never reach excellence. Without a burning desire to do what you do, it’s almost impossible to find the internal strength to strive for perfection.
     
  5. Partnership. Winners understand that they need other people to get where they want to go. The best companies are governed by leaders who understand that they exist because of a partnership with their customers, their employees and the communities in which they operate.
     
  6. Passion. Winners eat, breathe, talk, sleep and live passion. The biggest difference between winners and everyone else is in how they communicate their passion to the people around them.
     
  7. Persuasion. Winners don’t preach; they persuade. They tell you exactly why you should accept their point of view, yet you feel like you came to their conclusions on your own.
     
  8. Persistence. Winning is never really about a single game, product or performance. Winners know that winning is defined by repeat performances and increasing achievements.
     
  9. Principled Action. It comes down to a simple, powerful word: “If.” If you can put others before you, and in doing so lift yourself and others to a higher place, then you are, indeed, a winner.

 

The P’s are not just words,
they are the principles by which winners live
.

Differences Between Leadership & Management

My definition of effective leadership is to use your personal characteristics and qualities to be the absolute best you can be, and to help others be the absolute best that they can be.

 

Ever since the beginning, leaders have been creative problem solvers who use their imagination to reexamine the status quo, visualize new possibilities and ask “what if.”  The primary responsibilities of leaders are to initiate and cope with change.

 

Leaders therefore:

  • Set new directions
  • Align people around the new direction by communicating it clearly
  • Ensure people understand and are committed to it
  • Motivate and inspire people to keep them moving in the right direction

 

A leader motivates, inspires and energizes people by connecting the vision, mission, values, purpose and business goals to individual values and needs.

 

Management is a specific kind of leadership in which achieving organizational goals is paramount. Managers carry out operations and maintain the status quo, by setting goals and objectives consistent with the vision of the organization.

 

The primary responsibility of managers is coping with complexity. They therefore do the following:

  • Plan and budget
  • Set targets and goals for the future
  • Established detailed steps for achieving those goals
  • Allocate resources to support the plans
  • Organize and staff

 

Leadership and management must be used in balance. Leadership and management are two distinct yet complimentary systems of action, each with its own characteristics and activities. Both are necessary for your success, as well as that of the organization.

 

Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people.  www.loyaltyfactor.com

Info Exchange – Win: Part 1 of 2

Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics. 

 
Loyalty Factor has been instrumental in helping companies:

  • Increase Customer Satisfaction by 20 – 33%
  • Increase Revenues by 50% in 18 months
  • Increase Manufacturing Production by 200% in 18 months

Our information exchange this week highlights the book, “Win: The Key Principles to Take Your Business from Ordinary to Extraordinary” by Frank I. Luntz. This is part one of a two part series.

In his new book Win, Dr. Frank Luntz highlights:

  • The attributes of a winner
  • The nine P’s of winning.

 This segment with examine the attributes of winners.

 

Winners are self-aware. They recognize their own strengths and weaknesses, and respond to situations accordingly. Winners are also tuned in to the needs and desires of others, and this outward focus guides them to deliver revolutionary solutions, not just better mousetraps. They recognize where their strengths meet someone else’s needs and deliver the greatest value.

 

Winners don’t preach; they persuade. Winners clearly articulate their own principles and kindly, subtly invite you to adopt them. But the choice is yours. Sure, they lead and you follow and ultimately you come to their point of view on your own.

 

Luntz describes the following 15 attributes of leaders.

 

The ability to:

  • Grasp the human dimension of every situation
  • Know what questions to ask and when to ask them.
  • See what doesn’t yet exist and bring it to life
  • See the challenge, and the solution, from every angle
  • Distinguish the essential from the important
  • Drive to do more and do it better
  • Communicate their vision passionately and persuasively
  • Move forward when everyone around them is retrenching or slipping backward
  • Connect with others spontaneously

 

In Addition:

  • Curiosity about the unknown
  • Passion for life’s adventures
  • Chemistry with co-workers and the people they want to influence
  • Willingness to fail and the fortitude to get back up and try again
  • Belief in luck and good fortune

 

And most importantly:

  • A love of life itself

 

Although, there is no single standard of winning – no secret recipe that – presto! – makes you a winner. These are common traits of all winners. Together, they are factors one must incorporate in ways that suit their own style and objectives.

 

In our next installment, we’ll discuss the nine P’s of winning

 

The Value of Fear

Would you believe that the number one fear in the world is public speaking, above death and everything else? Even above death?

Fear is really False Evidence Appearing Real.

Research has shown that the biggest fear is because of self-consciousness of how an individual is coming across. The more that you can focus on your audience versus you, the less nervous you will become. Think of fear as Fully Engaged And Receptive; this will help eliminate traces of nervousness.

 

My suggestion however is you should not try to banish all fear and nervousness. You need a certain amount of fear to give a good speech. You say you need fear? Yes. Fear energizes you, it makes you think more rapidly, it helps you speak with vitality and enthusiasm. Here is why: when you stand up to give a speech and fear hits you, your body goes into “red alert,” the same biological mechanism that saved our cave dwelling ancestors when they were faced with a hungry lion and had to fight or flee in order to survive.

 

This same system comes into play in emergencies, for example: if you were walking down a deserted street and someone tried to attack you, your body would release a burst of adrenaline into your bloodstream, causing fresh blood and oxygen to rush into your muscles and you would be able to fight ferociously and run faster than you’ve ever run in your life.

 

The benefit of adrenaline can also be seen in competitive sports: athletes must get their adrenaline flowing before the game begins. The great homerun slugger Reggie Jackson said during his heyday, “I have butterflies in my stomach almost every time I step up to the plate. When I don’t have them I get worried because it means I won’t hit the ball very well.”

 

In public speaking adrenaline infuses you with energy, it causes extra blood and oxygen to rush, not only to your muscles but also to your brain, thus enabling you to think with greater clarity and quickness. It makes you come across to your audience as someone who is alive and vibrant.

 

It’s positive nervousness. It is a zesty enthusiastic, lively feeling with a slight edge to it. Positive nervousness is the state you’ll achieve by converting your anxiety into constructive energy. It’s still nervousness, but you are no longer victimized by it; instead you are vitalized by it. Fear is valuable; use it to your advantage.

 

Use it to your advantage by fully engaging your audience and being receptive to them – what you can give and what you can learn.

 

Dianne Durkin is president and founder of Loyalty Factor, a specialized consulting and training company that enhances employee, customer and brand loyalty for some of the nation’s most prominent corporations and many smaller businesses. Dianne’s proven expertise lies in helping companies quickly get to the core issues and outlining their impact on the organization’s profits, productivity and people.  www.loyaltyfactor.com

Info Exchange – The Power of Collective Ambition

Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics. 

 
Loyalty Factor has been instrumental in helping companies:

  • Increase Customer Satisfaction by 20 – 33%
  • Increase Revenues by 50% in 18 months
  • Increase Manufacturing Production by 200% in 18 months

Our information exchange this week highlights the Harvard Business Review article from December 2011, “The Power of Collective Ambition,” by Douglas A. Ready and Emily Truelove.

 

In the past few years, some companies have not just weathered the economic storm: they have emerged stronger than ever. They were winners even in industries where you may have expected serious blows – for example: luxury industries like hospitality and beauty.

 

How did these players such as The Four Seasons, Sephora and Standard Chartered Bank become the exception?

 

What these companies did was the following. Instead of pursuing a single ambition such as profits, these organizations used what the authors call a “Collective Ambition.” A Collective Ambition is defined as a summary of how leaders and employees think about why they exist, what they hope to accomplish, how they will collaborate to achieve their mission and how their brand promise aligns with their core values.

 

As mentioned previously, these companies do not fall into the trap of pursuing a single ambition (profits). Instead their employees collaborate to shape a collective ambition that supersedes individual goals and takes into account the key elements required to sustain excellence.

 

The elements of Collective Ambition are as follows:

 

Purpose – The company’s reason for being; The core mission of the enterprise.

 

Vision – The position or status the company aspires to achieve within a reasonable timeframe.

 

Targets & Milestones – The metrics the company will use to assess progress towards this vision.

 

Strategic & Operational Priorities – The actions the company will take in pursuit of their vision.

 

Brand Promise – The commitments the company makes to shareholders, customers, communities, investors, employees, regulators and partners concerning the experience the company will provide.

 

Core Values – The guiding principles that dictate what the company stands for as an organization in good times and in bad.

 

Leadership Behavior – How leaders act on a daily basis as they seek to implement the company’s vision and strategic priorities. They are measured on fulfilling brand promise and living up to the values.

 

By clearly defining these elements, misalignments within the organization can be recognized and addressed. The authors describe the Collective Ambition as a compass with Purpose at the center.

 

Articulating these elements of Collective Ambition can give an organization a better sense of the company’s purpose and how individuals within that organization can contribute to the purpose.

 

This becomes a total framework for identifying milestones, making strategic decisions and operational choices.