"Do not anticipate trouble, or worry about what may never happen. Keep in the sunlight." --Benjamin Franklin
Switch: How to Change Things When Change is Hard
Change can be hard because often we don't have a good idea of the direction to go to change. From the book we know that change will require:
Directing the Rider
Motivating the Elephant
Shaping the Path
This week, we will start with some tips on directing the rider.
Now, the rider can be you, your staff or even your family. The Heath brothers have found three steps are critical to help the rider get started.
Find the Bright Spots. When a problem is observed, identifying what is already working means just that - what is working well in the mess of the problem. Anyone who has ever grilled, knows that there are "hot spots" on many grills. If you are looking for a bright spot, you would be saying "why doesn't the chicken burn here and how can be get the entire meal to cook that way." Finding the bright spots in a problem will give you quick success.
Script the Critical Moves. The parent you overheard saying "would you like a carrot or an apple" to their child is scripting the moves. When we limit the choices a person can take, we help them make better decisions. Too many choices often means no decision will be made. That is because Status Quo feels comfortable. Scripting helps all of us crossover our comfort zone.
Point to the Destination. In business, I often call this the vision. It must be clear and well defined and for all practical purposes it will be credible and reachable. Jim Collins who wrote Good to Great and Built to Last calls these destinations BHAG or Big, Hairy, Audacious Goals. What are your BHAGs for 2011?
Take some time this week to see how you can direct your riders or maybe just yourself and next week we will talk about motivating the elephant or the emotional side of the process.
Enjoy your week!
Linda Fayerweather
http://www.changinglanes.biz/
Read the First Chapter or Buy the book Switch
Going the Extra Step to Protect Your Bank Information
Identity theft and fraud can happen to anyone. I've been a victim of it and most everyone I know has had a problem in the past. A few months back, one of my friend's had his bank account cleaned out. He had lost his wallet with a card that his bank account information on it. Luckily the bank was able to get his money back. It took a few weeks and way too much hassle.
It got me thinking, what can be done to protect your bank information? You need to have your accounts written out some place for use. And maybe have that information in unsafe places, like your wallet for easy access. Why not change your account number in some way so you know but no one else would. Such as reverse it. Put the last number first. Divide the number in half. Or add 1 to every number. Now your account number appears to be normal and only you know what your real account number is. It is an easy solution and adds one more layer of security
Jeff Mendelsohn
www.Liquidmechanix.com
Liquid@liquidmechanix.com
Monday, August 01, 2011
Monday, July 25, 2011
Changing Your Mind - Switch
"A perfect summer day is when the sun is shining, the breeze is blowing, the birds are singing, the lawn mower is broken." --James Dent
Summer Reading - Switch - Part 1
Switch: How to Change Things When Change is Hard
Changing Lanes,
Changing Clothes,
Changing Direction,
Change has many meanings to each of us, but overall, change is usually not easy. It takes conscious effort to make a change become part of our lives. Most of us have heard about the "if you do it 21 days, it will become habit". That is a plan that works for some, others lose track of what they are trying to change after a day or two.
Even if you are a master at change, you may know friends, staff or family that live in our world where change is hard and requires work. Over the next few weeks, I'll be giving tips on change with the book "Switch " by brothers Chip and Dan Heath. This is one of those books that I first purchased for my Kindle, then got the mp3 and finally a hardcover - it really is that good.
Today, let's just take an overview. For anything to change, someone has to start doing something differently. The beauty of this book and Lean Office is that the leader doesn't have to start the change - anyone that sees a problem can cause change with no authority, power or resources.
Dan and Chip Heath describe change as having an emotional side and rational side or an emotional Elephant and a rational Driver of the elephant.
If you imagine yourself sitting atop an elephant and expect it to change directions you will need a "ton" of convincing. The key to permanent and lasting change is three pronged:
Direct the Rider - the rational mind needs the "why" of the change.
Motivate the Elephant - the emotional, feeling mind needs to feel something. Maybe very quick success, visual examples, small group trials.
Shape the Path - to create behavior change, the situation needs to change. Using checklists, rearranging the workstation, seeding the tip jar are just simple examples of how to remind others "change has happened"
Read the First Chapter or Buy the book Switch
Summer Reading - Switch - Part 1
Switch: How to Change Things When Change is Hard
Changing Lanes,
Changing Clothes,
Changing Direction,
Change has many meanings to each of us, but overall, change is usually not easy. It takes conscious effort to make a change become part of our lives. Most of us have heard about the "if you do it 21 days, it will become habit". That is a plan that works for some, others lose track of what they are trying to change after a day or two.
Even if you are a master at change, you may know friends, staff or family that live in our world where change is hard and requires work. Over the next few weeks, I'll be giving tips on change with the book "Switch " by brothers Chip and Dan Heath. This is one of those books that I first purchased for my Kindle, then got the mp3 and finally a hardcover - it really is that good.
Today, let's just take an overview. For anything to change, someone has to start doing something differently. The beauty of this book and Lean Office is that the leader doesn't have to start the change - anyone that sees a problem can cause change with no authority, power or resources.
Dan and Chip Heath describe change as having an emotional side and rational side or an emotional Elephant and a rational Driver of the elephant.
If you imagine yourself sitting atop an elephant and expect it to change directions you will need a "ton" of convincing. The key to permanent and lasting change is three pronged:
Direct the Rider - the rational mind needs the "why" of the change.
Motivate the Elephant - the emotional, feeling mind needs to feel something. Maybe very quick success, visual examples, small group trials.
Shape the Path - to create behavior change, the situation needs to change. Using checklists, rearranging the workstation, seeding the tip jar are just simple examples of how to remind others "change has happened"
Read the First Chapter or Buy the book Switch
Monday, July 18, 2011
Lazy Days of Summer
With Harry Potter providing a cooling off time at the theaters, families on vacation and many people taking a causal and slower pace to business, business owners have the perfect opportunity to do some reassessing, planning and maybe just catching up on neglected paperwork.
The slower summer pace is a good time to re-evaluate clients, your plan, align budgets or maybe create budgets. If 2011 started without a written plan, July is not too late to finish this year with a bang. Doing a plan for the next six months will align your business and build a foundation for 2012. It is really quite simple:
1) Vision – Where will this business be by December 31, 2011
3) Mission – Why do customers think we exist?
3) Core Values – How do we get things done?
4) Desired Outcomes – 3 to 8 goals that will help 2011 be a fabulous year
5) Projects – What has to happen to drive to the Vision and meet the Desired?
Need help? Check out the Simple Plan for a quick start to your success or download the Planning PDF
The slower summer pace is a good time to re-evaluate clients, your plan, align budgets or maybe create budgets. If 2011 started without a written plan, July is not too late to finish this year with a bang. Doing a plan for the next six months will align your business and build a foundation for 2012. It is really quite simple:
1) Vision – Where will this business be by December 31, 2011
3) Mission – Why do customers think we exist?
3) Core Values – How do we get things done?
4) Desired Outcomes – 3 to 8 goals that will help 2011 be a fabulous year
5) Projects – What has to happen to drive to the Vision and meet the Desired?
Need help? Check out the Simple Plan for a quick start to your success or download the Planning PDF
Tuesday, July 12, 2011
Is Your Cash flow flowing?
How Does Your Cash Flow?
If you haven't read "Rich Dad Poor Dad" take a minute right now and add it to your to summer reading list. The focus is on personal finance, but so much is applicable to businesses, too.
Last week I talked about "Working ON your business not IN your business" and it resonated with many. That statement was coined by Michael Gerber in his landmark "E-Myth" book series. Small businesses create the brightest futures by moving from managing their cash flow to creating wealth. Here is a short history of business styles and how they work their money or cash flow.
Money Path of a Job-Preneur. A job-preneur is a business owner that has created a job for herself. Typically when the owner expires or retires, the business does likewise. The most important information this business owner looks for is cash flow - what is coming in and what goes out. Do we have enough to pay all expenses and maybe put some aside for retirement? If this is your business, just being clear on what it is and planning for the future is important.
Money Path of the Business Owner. The business owner that has some employees and a plan for growth will likely be looking carefully at not only the cash flow of the business but also the Income Statement. The typical business owner will be aware of the liabilities associated with growth and asset acquisition. But few businesses in this category have "income producing assets", they are just large expenses. For example, the company car is an asset and maybe it has a loan, but does it really generate any cash flow? If these businesses are to be sold, the price is usually not much beyond a multiple of the business' profits. No Proft? Difficult to sell over the fair market value of the assets. Again, knowing what your exit plan is may mean that the business is what you want it to be. If you want more from your business, read on.
Money Path of an Entrepreneurial Business. Here the owner is striving to not only pay all the bills, pay down the liabilities and build assets but building a business where the owner works ON the business. A business that builds for the future is managing the cash flow, the income statement and most importantly the balance sheet. The key to getting assets to grow and generate income is having repeatable processes. These processes are for everything from answering the phone to providing outstanding service. If it can't be repeated, you don't have a salable process. These processes free the owner to be a leader and not just a worker-bee. The beauty of buying a franchise is that you are purchasing a tried and true way to have an income producing asset! Think about how you can create a business that is easy for someone else to come and replace you. When you know you can walk away and the cash will keep flowing, you have built a business based on wealth creation.
Being clear as to what type of business you are building means you will have a unmistakable understanding of what to expect. Businesses, like children, can only produce what we train them to do!
Copyright 2011 Linda Lucas Fayerweather
http://www.changinglanes.biz/
419-897-0528
If you haven't read "Rich Dad Poor Dad" take a minute right now and add it to your to summer reading list. The focus is on personal finance, but so much is applicable to businesses, too.
Last week I talked about "Working ON your business not IN your business" and it resonated with many. That statement was coined by Michael Gerber in his landmark "E-Myth" book series. Small businesses create the brightest futures by moving from managing their cash flow to creating wealth. Here is a short history of business styles and how they work their money or cash flow.
Money Path of a Job-Preneur. A job-preneur is a business owner that has created a job for herself. Typically when the owner expires or retires, the business does likewise. The most important information this business owner looks for is cash flow - what is coming in and what goes out. Do we have enough to pay all expenses and maybe put some aside for retirement? If this is your business, just being clear on what it is and planning for the future is important.
Money Path of the Business Owner. The business owner that has some employees and a plan for growth will likely be looking carefully at not only the cash flow of the business but also the Income Statement. The typical business owner will be aware of the liabilities associated with growth and asset acquisition. But few businesses in this category have "income producing assets", they are just large expenses. For example, the company car is an asset and maybe it has a loan, but does it really generate any cash flow? If these businesses are to be sold, the price is usually not much beyond a multiple of the business' profits. No Proft? Difficult to sell over the fair market value of the assets. Again, knowing what your exit plan is may mean that the business is what you want it to be. If you want more from your business, read on.
Money Path of an Entrepreneurial Business. Here the owner is striving to not only pay all the bills, pay down the liabilities and build assets but building a business where the owner works ON the business. A business that builds for the future is managing the cash flow, the income statement and most importantly the balance sheet. The key to getting assets to grow and generate income is having repeatable processes. These processes are for everything from answering the phone to providing outstanding service. If it can't be repeated, you don't have a salable process. These processes free the owner to be a leader and not just a worker-bee. The beauty of buying a franchise is that you are purchasing a tried and true way to have an income producing asset! Think about how you can create a business that is easy for someone else to come and replace you. When you know you can walk away and the cash will keep flowing, you have built a business based on wealth creation.
Being clear as to what type of business you are building means you will have a unmistakable understanding of what to expect. Businesses, like children, can only produce what we train them to do!
Copyright 2011 Linda Lucas Fayerweather
http://www.changinglanes.biz/
419-897-0528
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