Falling Through the Cracks - Part 1 As we approach August, many of us in the northern hemisphere gear up for vacation. In the last week, I've talked with six people that are stressed about vacation. Below, Pat has some great tips on having alleviating the stress. In fact, she wrote this near the shores of Lake Michigan in Wisconsin where the PGA will be in a few weeks! After her tips on getting ready, check out my thoughts on a proactive reentry. Hope your vacation is great, you deserve one! --Linda Fayerweather, Editor
Vacation - Don't Take Stress With You!
We're quickly approaching the biggest vacation month of the year; not sure about you, but I am looking forward to some well-deserved time away. We are taking our three young grandchildren on a trip to Mackinac, MI and I am so looking forward to it. The trick, however, is to manage those important days and hours prior to vacation, without totally stressing out with thoughts such as, "If I get all my work done, then I can go enjoy myself."
Unfortunately, with that approach, we usually find ourselves working long and hard right up until we leave. This actually triggers the fight or flight response in our body, releasing cortisol, and creating stress. If this is compounded by skipping self-care routines, like exercise or meditation, in an attempt to fit all the work in, we could end up carrying the stress into our vacation. You may have noticed that it takes time to clear stress-related chemicals from our system, which explains why for many of us it's the third day of vacation before we seem to feel relaxed.
Instead of falling into this common trap, there are a few things we can do:
1. Intend - make a decision that you want to have a calm, stress free week prior to vacation. Consciously pay attention to yourself and how you are feeling and if you notice stress, take actions to release it.
2. Delegate - vacation is an excellent opportunity to pass some tasks to your employees or possibly hire a virtual assistant. Be sure to delegate the tasks several days in advance of your departure to give them time to ask questions.
3. Prioritize - do this two weeks in advance of your vacation, so you know what projects and actions must be completed prior to vacation. Create a list of what absolutely can't wait until you return and make a plan for completing these actions. Schedule the other projects/tasks onto your calendar for after vacation.
4. Wrap up - dedicate the last day before vacation to wrap up loose ends, meet with anyone you've delegated actions to, set up your voice mail and email Out of Office Reply and leave yourself a note detailing where you got to on unfinished business, what tasks you postponed, what will need immediate attention when you return and anything else you might worry about while on vacation. Check out Linda's tips below for reentry.
It's much easier to relax and have a great vacation when we consciously manage the week leading up to our time off. Have a good time!
Copyright 2010 Pat Altvater
Transforming Bodies and Minds
http://www.outsmartweight.com/
http://www.momsoutsmartingobesity.com/
http://www.choosesuccessbook.com/
419-344-6613
Falling Through the Cracks - Part 2
Whenever I hear "falling through the cracks" or a variation of that, I'm sent back to the hot summers of my youth and the Central Park Pool where swimming was ten cents, the water was cold, and the changing/shower room had a floor that was wooden decking material over a cavernous space 20 feet below.
Whoa be the person that dropped their ice cream money or special belonging down there as it required a written request for its retrieval and, I was told when I lost my quarter "How will we know it is your quarter? Do you know the date on it?" I never got the quarter back. . .
Keeping your plan from falling through the cracks during vacation is a good way to practice using some productivity ideas. Here is my plan to stay on track:
1. Identify the strategic next action (SNA). When I am going to be gone for more than a few days, before leaving, I look at my upcoming work and then ask "when I return, what is the next strategic action I need to do on this project or task AND does it support my desired outcomes (goals)." I usually schedule the first half day back as SNA calls/email . And I actually use that category on my calendar and block the space.
2. Book it on your calendar before you leave. Controlling your calendar after time away from the office does require some proactive thinking. In my last job where I had a staff, I'd usually suggested we have a staff meeting at lunch on my first day back - "bring your thoughts, questions and ideas and we will all catch up". That did two things - kept them out of my office in the AM and gave me the opportunity to let everyone know what my agenda for the future was and get them to recommit to their projects.
3. Before leaving, review your plan completely. Make sure each goal or objective is being attended to upon your return. If a goal or objective is not being cared for it will likely fall through the cracks and you may find yourself having to requisition future time to retrieve it - time you may not have available then.
Both David Allen's Getting This Done (GTD) and Sally McGhee's Take Back Your Life! use Strategic Next Actions to stay on track. This may be too "heavy" for your beach reading, but they are great refreshers for staying on top of your life!
A little proactive planning will lead to a smooth reentry and the decompression from your vacation will last longer!
Copyright 2010 Linda Fayerweather
Is what you are doing right now helping you achieve your goals? If not. . . stop doing that!
http://www.changinglanes.biz/
419-897-0528
Just Like Them - Workshop in Maumee OH
Date: Thursday, July 28, 2010
Time: 1:00pm - 4:00pm
Location: Danberry Real Estate Briarfield Conference Room
Street: 3555 Briarfield Blvd. Maumee, OHsoc
Description
Marketing has changed dramatically in the last few years and if you are confused... you are not alone. Join Maumee Chamber of Commerce members Todd Pillars of SendOutCards and Linda Fayerweather of Changing Lanes, LLC as they help you wade through the mountains of media to find what works best for your business.
You will learn:
- Easy techniques you can start using tomorrow
- How to laser target your efforts
- What tried and true marketing still works
- What social networking is and why do it
- Why local networking events are crucial and how to maximize your efforts
- Handouts to maximize your education
And LOTS of time for Questions
Stop guessing and Start making sense of the New World (Wide Web) Order!
Who Should attend?
- Business Owners
- Sole Proprietors
- Partners (get a group rate)
- Business Decision Makers
Register at http://justlikethem.eventbrite.com/
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Monday, July 26, 2010
Monday, July 19, 2010
Are you Still Playing Football with Lucy?
In case you have forgotten, Charles Schultz cartooned about Charlie Brown and Lucy playing football. Lucy would hold the football for him to kick but when he approached it, she'd lift it up and Charlie Brown would end up on his back - 42 times this happened starting in 1951.
At this website http://www.fivecentsplease.org/dpb/football.html you can see all the different answers that Lucy has for Charlie Brown from "you might get your shoes dirty" and including "to everything there is a season".
Strategic Next Actions are those simple tasks that keep us on the road to achieving our goals, those meaningful objectives. And what does this have to do with Lucy and Charlie Brown? Maybe insanity or maybe just not realizing that using the same tools, personnel and skill to get things done will lead to similar results. For 42 times after asking, pleading and reasoning with Lucy, Charlie Brown still ends up on his back. Often when we set goals for our business and personal life, we forget the same approach, even with a new flourish (like new uniforms or rearranging the office furniture) will likely get the same results. That is what playing football with Lucy is all about.
To start a new game, try to take these five steps to a different outcome.
First, Start simple. Just for a few days, think about strategic next actions as scheduling the obvious. To get different results in our hectic lives we need to schedule more than just the meeting date, we need to schedule the time to prepare for the meeting, too. I don't schedule each phone call that I need to return, but I do schedule blocks of time to deal with calls and emails.
Second, look forward to the next 14 days, what deadlines are you facing? Ask yourself "Is this activity something that supports my goals?" Is this something I need to do to maintain my license, skills, health?" Now, if in the next two weeks, those deadlines don't support your future, ask yourself "Why am I doing these?" Meaningful goals require meaningful work.
Third, now, look at those deadlines and identify what are the next strategic actions that need to happen. These actions have no dependencies--nothing else is needed to complete the action. Write these actions down and schedule them.
Fourth, use strategic next actions to keep you from playing football with Lucy. If Charlie Brown had thought about having a different outcome, he might have started with his approach (his skill), the football (tool) or the ball holder (personnel). By changing the personnel (which he did in 1999), he had a different outcome - although Charles Schultz never shared the result.
Last, when you find you are slipping back to the football field with Charlie Brown and Lucy, just think about what Lucy said "How long? All your life, Charlie Brown ... all your life?" Maybe adding a little humor to some of the repetitive habits we all have, will kick us to a different place.
Copyright 2010 Linda Fayerweather
Changing Lanes LLC
419-897-0528
http://www.changinglanes.biz/
Don't Hang Up.
While watching a video of Bob Burg speak during a presentation of his Endless Referrals system something he said hit me like a ton of bricks. Bob said "Your prospects won't hang up on you while they're talking about themselves".
I don't get many hang ups working with warm market and referrals (I can't remember the last one) but I've had a few over the years, mostly from cold calling. You've probably had one or two; you hear a "not interested" and a click right in the middle of your "pitch".
The reason I love this quote is that you can picture your prospect, in the middle of doing what they do during their busy day, and see them thinking "what's this guy trying to sell me". Click. If you're prospect ever feels like they're being sold, you've lost them.
So here's your mission, should you choose to accept it; Think of 3 questions that you can ask to find out IF the person on the other end of the phone is a good candidate for your product or service. Keep them short and to the point but make sure that each question creates a curiosity about what you do.
For example:
Hello Mr. Prospect. My name is ____ and I help busy business owners get more people in their door without working any harder than they are now.
Do you look for easy new ways to find more customers? Listen to the answer!
Is creating pre-sold and pre-qualified leads something you'd want to know more about? Listen to the answer!
If there was a way to generate more good will and more referrals for less than the cost of most candy bars is that something you'd want to see? Listen to the answer!
Quickly show you them they have a problem you can solve. Get your prospect to ASK you how quickly you can show them how to alleviate their pain. Guaranteed they won't hang up on you while you're setting the appointment.
Copyright 2010 Todd Pillars is an Appreciation Marketer with Send Out Cards.
Please contact him today at 419-855-2273 or tpillars@gmail.com to SUPERCharge your Referrals! Surf on over to http://www.sendoutcards.com/tpillar s to send someone an Awesome Day!
 |
| United Artists October 2004 |
At this website http://www.fivecentsplease.org/dpb/football.html you can see all the different answers that Lucy has for Charlie Brown from "you might get your shoes dirty" and including "to everything there is a season".
Strategic Next Actions are those simple tasks that keep us on the road to achieving our goals, those meaningful objectives. And what does this have to do with Lucy and Charlie Brown? Maybe insanity or maybe just not realizing that using the same tools, personnel and skill to get things done will lead to similar results. For 42 times after asking, pleading and reasoning with Lucy, Charlie Brown still ends up on his back. Often when we set goals for our business and personal life, we forget the same approach, even with a new flourish (like new uniforms or rearranging the office furniture) will likely get the same results. That is what playing football with Lucy is all about.
To start a new game, try to take these five steps to a different outcome.
First, Start simple. Just for a few days, think about strategic next actions as scheduling the obvious. To get different results in our hectic lives we need to schedule more than just the meeting date, we need to schedule the time to prepare for the meeting, too. I don't schedule each phone call that I need to return, but I do schedule blocks of time to deal with calls and emails.
Second, look forward to the next 14 days, what deadlines are you facing? Ask yourself "Is this activity something that supports my goals?" Is this something I need to do to maintain my license, skills, health?" Now, if in the next two weeks, those deadlines don't support your future, ask yourself "Why am I doing these?" Meaningful goals require meaningful work.
Third, now, look at those deadlines and identify what are the next strategic actions that need to happen. These actions have no dependencies--nothing else is needed to complete the action. Write these actions down and schedule them.
Fourth, use strategic next actions to keep you from playing football with Lucy. If Charlie Brown had thought about having a different outcome, he might have started with his approach (his skill), the football (tool) or the ball holder (personnel). By changing the personnel (which he did in 1999), he had a different outcome - although Charles Schultz never shared the result.
Last, when you find you are slipping back to the football field with Charlie Brown and Lucy, just think about what Lucy said "How long? All your life, Charlie Brown ... all your life?" Maybe adding a little humor to some of the repetitive habits we all have, will kick us to a different place.
Copyright 2010 Linda Fayerweather
Changing Lanes LLC
419-897-0528
http://www.changinglanes.biz/
Don't Hang Up.
While watching a video of Bob Burg speak during a presentation of his Endless Referrals system something he said hit me like a ton of bricks. Bob said "Your prospects won't hang up on you while they're talking about themselves".
I don't get many hang ups working with warm market and referrals (I can't remember the last one) but I've had a few over the years, mostly from cold calling. You've probably had one or two; you hear a "not interested" and a click right in the middle of your "pitch".
The reason I love this quote is that you can picture your prospect, in the middle of doing what they do during their busy day, and see them thinking "what's this guy trying to sell me". Click. If you're prospect ever feels like they're being sold, you've lost them.
So here's your mission, should you choose to accept it; Think of 3 questions that you can ask to find out IF the person on the other end of the phone is a good candidate for your product or service. Keep them short and to the point but make sure that each question creates a curiosity about what you do.
For example:
Hello Mr. Prospect. My name is ____ and I help busy business owners get more people in their door without working any harder than they are now.
Do you look for easy new ways to find more customers? Listen to the answer!
Is creating pre-sold and pre-qualified leads something you'd want to know more about? Listen to the answer!
If there was a way to generate more good will and more referrals for less than the cost of most candy bars is that something you'd want to see? Listen to the answer!
Quickly show you them they have a problem you can solve. Get your prospect to ASK you how quickly you can show them how to alleviate their pain. Guaranteed they won't hang up on you while you're setting the appointment.
Copyright 2010 Todd Pillars is an Appreciation Marketer with Send Out Cards.
Please contact him today at 419-855-2273 or tpillars@gmail.com to SUPERCharge your Referrals! Surf on over to http://www.sendoutcards.com/tpillar s to send someone an Awesome Day!
Monday, July 12, 2010
Happy New Year & Oil Spills
Half Way to New Years!
Goals, goals, goals. I do talk about other things . . . occasionally. Realistically, we all make goals and many of us even write them down. Too many people ignore goals even written ones, and then declare, "well, they just don't work." Goals create the stairway to the life you want. And they do work. It doesn't matter either if you call them goals, objectives, targets, or desired outcomes. If they have a deadline and are measurable, they are goals.
Now, the secret to strong goals is really not that difficult.
1. The goal should stretch your ability (BHAG=Big Hairy Audacious Goals). If you set the goal at 82 and last year you did 70 and you achieve 79, you will be happy. If you had set your goal at 75, would you have reached it? Probably. Would you have reached 79? Maybe/maybe not. Many humans have a natural tendency to coast after the goal is achieved.
2. Break it down. A workable goal is able to be broken into projects and projects can be broken into tasks. And if you are really clever while doing these break-downs, you can assign some to other people in your business. Be clear - a project will, like a goal have a deadline, but it will also be assigned to someone, even if it is just you. Tasks are then broken down to strategic next actions.
Here is an example:
Goal = $1.2 million in sales by year end;
Project = increase sales by 5% to past customers by end of third quarter;
Task = Design and implement a marketing program for customer retention;
Strategic Next Action (SNA) = Assign Marketing design to Sam.
Notice how from the bottom up, these are all aligned to each other. The Goal may have a multitude of projects to achieve the end, but for this particular SNA, if it is not done, then none of the above will likely happen.
3. Measure. Since goals must be measurable, then we need to measure them. Projects are judged my the completion percent to the goal. The tasks are usually a sequential process to complete a project and the SNA is either done or not.
4. Small Steps. If you find yourself stuck with goals not being met, start with a strong SNA. Remember, when you notice a person has lost weight they likely did it one mile and one calorie at a time.
Happy New Year!
Copyright 2010 Linda Fayerweather
Changing Lanes LLC
419-897-0528
http://www.changinglanes.biz/
What is the Implication of Disaster Assistance?
President Obama has declared the BP oil spill, still spewing millions of gallons of oil into formerly pristine waters, to be the worst natural disaster in American history. The spill has already cost BP over $2 billion, and experts assume this to be a small down payment on the final cost. BP will end up spending billions more to reimburse Gulf residents for lost wages and other income, physical injuries, and lost property.
With dozens of federal, state and local agencies giving funds, advice and cautions, it should come as no surprise that our beloved Internal Revenue Service has also weighed in with a special discussion clarifying tax rules for oil spill claims.
Generally speaking, payments for lost wages and other income are taxable. That's because the wages and income they replace would have been taxable. Replacing wages is relatively straightforward. When hotel staff, cooks, and servers at beachside resorts are laid off, it's not hard to calculate the wages (and thus the tax) that they would have made had they been working. However, those payments generally aren't subject to Social Security and Medicare tax (because they aren't actual "payment for employment" under the law) and aren't subject to withholding.
Replacing lost business income can be harder.
First, businesses have to substantiate their losses. Tax returns may be the best vehicle for proving lost income. However, it seems that some businesses affected by the spill haven't reported their full income in the past. (I know, hard to believe.) And some businesses may have a hard time claiming reimbursements in the first place. For example, should BP pay to replace tips lost by exotic dancers playing their trade in affected areas?
Second, payments for property damage aren't taxable so long as the payment doesn't exceed the property's "basis," which is the measure of its value after any depreciation. The same is true for payments on account of personal physical injuries or physical illness. Payments for emotional distress (like insomnia, headaches, or stomach disorders) not attributable to personal physical injuries or physical symptoms are taxable; however, you can exclude your medical expenses attributable to that emotional distress.
Typically this column focuses on how long-term planning can save tax. In the case of payments to Gulf coast residents, there's not much long-term planning to do, at least for the tax consequences. But the IRS guidance is a useful reminder that taxes factor into nearly every financial choice you make. And we're here to help you make those choices as tax-efficient as possible. Don't hesitate to call!
Copyright 2010 Tim Pinkelman, CPA
Accounting Center & Tax Services, Inc.
419-882-9255 or 734-847-0400
www.accounting-centers.com
Goals, goals, goals. I do talk about other things . . . occasionally. Realistically, we all make goals and many of us even write them down. Too many people ignore goals even written ones, and then declare, "well, they just don't work." Goals create the stairway to the life you want. And they do work. It doesn't matter either if you call them goals, objectives, targets, or desired outcomes. If they have a deadline and are measurable, they are goals.
Now, the secret to strong goals is really not that difficult.
1. The goal should stretch your ability (BHAG=Big Hairy Audacious Goals). If you set the goal at 82 and last year you did 70 and you achieve 79, you will be happy. If you had set your goal at 75, would you have reached it? Probably. Would you have reached 79? Maybe/maybe not. Many humans have a natural tendency to coast after the goal is achieved.
2. Break it down. A workable goal is able to be broken into projects and projects can be broken into tasks. And if you are really clever while doing these break-downs, you can assign some to other people in your business. Be clear - a project will, like a goal have a deadline, but it will also be assigned to someone, even if it is just you. Tasks are then broken down to strategic next actions.
Here is an example:
Goal = $1.2 million in sales by year end;
Project = increase sales by 5% to past customers by end of third quarter;
Task = Design and implement a marketing program for customer retention;
Strategic Next Action (SNA) = Assign Marketing design to Sam.
Notice how from the bottom up, these are all aligned to each other. The Goal may have a multitude of projects to achieve the end, but for this particular SNA, if it is not done, then none of the above will likely happen.
3. Measure. Since goals must be measurable, then we need to measure them. Projects are judged my the completion percent to the goal. The tasks are usually a sequential process to complete a project and the SNA is either done or not.
4. Small Steps. If you find yourself stuck with goals not being met, start with a strong SNA. Remember, when you notice a person has lost weight they likely did it one mile and one calorie at a time.
Happy New Year!
Copyright 2010 Linda Fayerweather
Changing Lanes LLC
419-897-0528
http://www.changinglanes.biz/
What is the Implication of Disaster Assistance?
President Obama has declared the BP oil spill, still spewing millions of gallons of oil into formerly pristine waters, to be the worst natural disaster in American history. The spill has already cost BP over $2 billion, and experts assume this to be a small down payment on the final cost. BP will end up spending billions more to reimburse Gulf residents for lost wages and other income, physical injuries, and lost property.
With dozens of federal, state and local agencies giving funds, advice and cautions, it should come as no surprise that our beloved Internal Revenue Service has also weighed in with a special discussion clarifying tax rules for oil spill claims.
Generally speaking, payments for lost wages and other income are taxable. That's because the wages and income they replace would have been taxable. Replacing wages is relatively straightforward. When hotel staff, cooks, and servers at beachside resorts are laid off, it's not hard to calculate the wages (and thus the tax) that they would have made had they been working. However, those payments generally aren't subject to Social Security and Medicare tax (because they aren't actual "payment for employment" under the law) and aren't subject to withholding.
Replacing lost business income can be harder.
First, businesses have to substantiate their losses. Tax returns may be the best vehicle for proving lost income. However, it seems that some businesses affected by the spill haven't reported their full income in the past. (I know, hard to believe.) And some businesses may have a hard time claiming reimbursements in the first place. For example, should BP pay to replace tips lost by exotic dancers playing their trade in affected areas?
Second, payments for property damage aren't taxable so long as the payment doesn't exceed the property's "basis," which is the measure of its value after any depreciation. The same is true for payments on account of personal physical injuries or physical illness. Payments for emotional distress (like insomnia, headaches, or stomach disorders) not attributable to personal physical injuries or physical symptoms are taxable; however, you can exclude your medical expenses attributable to that emotional distress.
Typically this column focuses on how long-term planning can save tax. In the case of payments to Gulf coast residents, there's not much long-term planning to do, at least for the tax consequences. But the IRS guidance is a useful reminder that taxes factor into nearly every financial choice you make. And we're here to help you make those choices as tax-efficient as possible. Don't hesitate to call!
Copyright 2010 Tim Pinkelman, CPA
Accounting Center & Tax Services, Inc.
419-882-9255 or 734-847-0400
www.accounting-centers.com
Monday, July 05, 2010
80/20 & Top 5 ways on Chamber Membership
Business tips for July 5, 2010
80/20 = Pareto's Principle
Most of us have heard of the "80:20 Rule and it is evident in quality management and customer service. Like me, you've probably heard "80% of sales come from 20% of customers" or 20% of employees produce 80% of all absences." and the list goes on and on (see list below). How did this philosophy come to be?
Vilfredo Pareto observed in 1906 that 80% of the land in Italy was owned by 20% of the population and went on to develop a principle that even explained that 20% of his pea pods held 80% of the peas. Joseph Juran is noted for applying this to the business world. To understand the math behind Pareto's Principle, check out wikipedia Pareto Principle
To get a general understanding of how it may apply to your own business and life think about it this way:
As a manager or owner, identifying and focusing on the vital 20 percent that matters in terms of cost or occurrences will lead to better time management, delegation and results. With 2010's second half upon us, take a look at your unfinished goals for this year and analyze which are doable with the current resources and for those that are not, what resources will be needed? Sometimes you can achieve the same result with a different plan.
Copyright 2010 Linda Fayerweather
Changing Lanes LLC
419-897-0528
http://www.changinglanes.biz/
Top 5 Ways to Maximize Your Chamber Membership
REFERRAL MARKETING STRATEGY #1: Set networking goals so you can attend chamber functions with purpose. Start by determining how many qualified referrals you need on a weekly basis to generate the revenue you expect. Then decide how many events you'd like to attend and how many people you should meet (as potential prospects and referral sources) to make it happen!
REFERRAL MARKETING STRATEGY #2: Block out time to network. How much time? If sales are only part of your role, about 8 hours each week should do the trick. If sales is your full time responsibility you should invest at least half of your work week (20 hours) into getting out and about to meet new people. Visit the chamber website, mark your calendar and make it happen!
REFERRAL MARKETING STRATEGY #3: Profile your preferred client. Who are your ideal clients? You know, the ones you love to work with? When you begin working with the people that you are most qualified to serve based on your experience, skills and abilities you will position yourself to become a specialist in your industry! These are the people you want to be introduced to at chamber events.
REFERRAL MARKETING STRATEGY #4: Recruit your word of mouth team. I agree with Jack Canfield. You are the average of the 5 people you spend the most of your time with. Make a list of the 5 people you should be spending your "golden" time with (Mon-Fri 8 to 5). Your net worth is directly related to the strength of your network when you're building your business by referral. Invite your colleagues to attend chamber events with you to make priceless strategic introductions.
REFERRAL MARKETING STRATEGY #5: Get involved. The chamber offers an incredible service to the business community and creates networking opportunities by bringing us together in professional venues. Remember to give back. Demonstrate your leadership and the strength of your network by participating as an Ambassador, chairing a committee or sponsoring a chamber event.
Copyright 2010 Paula Frazier is a referral marketing expert for BNI & Referral Institute and has helped thousands of business people create millions of dollars in qualified referrals for nearly 10 years! She is part of an exclusive team of international Master Trainers and collaborates with the leaders in her industry to continually develop cutting edge referral marketing concepts for the organization. As a published author she's also acknowledged in the New York Times best seller, Truth or Delusion - Busting Networking's Biggest Myths. Check out #33, Delusion with a twist! Paula can be contacted at paula@referralinstitute-va.com .
More 80/20
-- 80 percent of results come from 20 percent of efforts
-- 80 percent of activity will require 20 percent of resources
-- 80 percent of usage is by 20 percent of users
-- 80 percent of the difficulty in achieving something lies in 20 percent of the challenge
-- 80 percent of revenue comes from 20 percent of customers
-- 80 percent of problems come from 20 percent of causes
-- 80 percent of profit comes from 20 percent of the product range
-- 80 percent of complaints come from 20 percent of customers
-- 80 percent of sales will come from 20 percent of sales people
-- 80 percent of corporate pollution comes from 20 percent of corporations
-- 80 percent of work absence is due to 20 percent of staff
-- 80 percent of road traffic accidents are cause by 20 percent of drivers
-- 80 percent of a restaurant's turnover comes from 20 percent of its menu
-- 80 percent of your time spent on this website will be spent on 20 percent of this website
80/20 = Pareto's Principle
Most of us have heard of the "80:20 Rule and it is evident in quality management and customer service. Like me, you've probably heard "80% of sales come from 20% of customers" or 20% of employees produce 80% of all absences." and the list goes on and on (see list below). How did this philosophy come to be?
Vilfredo Pareto observed in 1906 that 80% of the land in Italy was owned by 20% of the population and went on to develop a principle that even explained that 20% of his pea pods held 80% of the peas. Joseph Juran is noted for applying this to the business world. To understand the math behind Pareto's Principle, check out wikipedia Pareto Principle
To get a general understanding of how it may apply to your own business and life think about it this way:
80% of the objectives are achieved with 20% of the means.
In layman's language this means that to achieve 80% of your business goals will require 20% of your resources (time, staff, money). Furthermore, this means that perfection (more than 80%) is very expensive. As a manager or owner, identifying and focusing on the vital 20 percent that matters in terms of cost or occurrences will lead to better time management, delegation and results. With 2010's second half upon us, take a look at your unfinished goals for this year and analyze which are doable with the current resources and for those that are not, what resources will be needed? Sometimes you can achieve the same result with a different plan.
Copyright 2010 Linda Fayerweather
Changing Lanes LLC
419-897-0528
http://www.changinglanes.biz/
Top 5 Ways to Maximize Your Chamber Membership
REFERRAL MARKETING STRATEGY #1: Set networking goals so you can attend chamber functions with purpose. Start by determining how many qualified referrals you need on a weekly basis to generate the revenue you expect. Then decide how many events you'd like to attend and how many people you should meet (as potential prospects and referral sources) to make it happen!
REFERRAL MARKETING STRATEGY #2: Block out time to network. How much time? If sales are only part of your role, about 8 hours each week should do the trick. If sales is your full time responsibility you should invest at least half of your work week (20 hours) into getting out and about to meet new people. Visit the chamber website, mark your calendar and make it happen!
REFERRAL MARKETING STRATEGY #3: Profile your preferred client. Who are your ideal clients? You know, the ones you love to work with? When you begin working with the people that you are most qualified to serve based on your experience, skills and abilities you will position yourself to become a specialist in your industry! These are the people you want to be introduced to at chamber events.
REFERRAL MARKETING STRATEGY #4: Recruit your word of mouth team. I agree with Jack Canfield. You are the average of the 5 people you spend the most of your time with. Make a list of the 5 people you should be spending your "golden" time with (Mon-Fri 8 to 5). Your net worth is directly related to the strength of your network when you're building your business by referral. Invite your colleagues to attend chamber events with you to make priceless strategic introductions.
REFERRAL MARKETING STRATEGY #5: Get involved. The chamber offers an incredible service to the business community and creates networking opportunities by bringing us together in professional venues. Remember to give back. Demonstrate your leadership and the strength of your network by participating as an Ambassador, chairing a committee or sponsoring a chamber event.
Copyright 2010 Paula Frazier is a referral marketing expert for BNI & Referral Institute and has helped thousands of business people create millions of dollars in qualified referrals for nearly 10 years! She is part of an exclusive team of international Master Trainers and collaborates with the leaders in her industry to continually develop cutting edge referral marketing concepts for the organization. As a published author she's also acknowledged in the New York Times best seller, Truth or Delusion - Busting Networking's Biggest Myths. Check out #33, Delusion with a twist! Paula can be contacted at paula@referralinstitute-va.com .
More 80/20
-- 80 percent of results come from 20 percent of efforts
-- 80 percent of activity will require 20 percent of resources
-- 80 percent of usage is by 20 percent of users
-- 80 percent of the difficulty in achieving something lies in 20 percent of the challenge
-- 80 percent of revenue comes from 20 percent of customers
-- 80 percent of problems come from 20 percent of causes
-- 80 percent of profit comes from 20 percent of the product range
-- 80 percent of complaints come from 20 percent of customers
-- 80 percent of sales will come from 20 percent of sales people
-- 80 percent of corporate pollution comes from 20 percent of corporations
-- 80 percent of work absence is due to 20 percent of staff
-- 80 percent of road traffic accidents are cause by 20 percent of drivers
-- 80 percent of a restaurant's turnover comes from 20 percent of its menu
-- 80 percent of your time spent on this website will be spent on 20 percent of this website
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