Unlock The Profits In Your People . . .
December 23, 2007
As the leader of a business it is your job to organize, support, encourage, inspire, and discipline your team. Unlocking the profit potential of your team-members depends on your ability to plan and manage their success.
One of the best models for managing team success is the Coaching/Mentorship Model. The art comes in your ability to function as a co-equal member of the team without degrading your authority over it. Yes, you can be friends with your people — it's okay to go shoot a game of pool with the staff and drink a few beers — but you always have to maintain the respect of your people as their leader.
Perhaps the best way, the only way, to virtually assure the respect of your team is to show them that your most important function is to give them what they need to succeed. Think about it — what is your ultimate business goal? If you are smart, your goal is independence.
Your ultimate goal as an entrepreneur is to build and secure stable, independent income streams. Since you don't want to be spending all of your time managing your businesses yourself, you need a team. Since your team-members are the people that will be operating your businesses, doesn't it make sense for you to do everything in your power to ensure that each and every one of them has what they need to succeed massively?
Coaching and mentoring are the vehicles through which you can bond and communicate with your team so that you will know what they need to succeed. It is how your people will know that you are there for them. Through coaching and mentoring you can free yourself from the operations side of your businesses and concentrate on building relationships with people and facilitating their success. By facilitating your team-members' success you are doing the highest and best work to ensure your own success.
Watch this classic video staring Jack Nicklaus, Herb Kelleher, and Lenny Wilkins as they discuss the importance of coaching in business. Perhaps the best way for you to learn how to coach others is to experience professional business coaching for yourself.
John Michailidis is a recognized business consultant, attorney, success coach, and author of the WealthLoopTM Series of books and training materials for aspiring entrepreneurs and investors. Please use the contact form to get in touch with him regarding personal coaching and business consulting. Download the FREE, 40-page, .pdf "Wealth Creation Manual."
When Famous Investor Warren Buffett Decides To Offer Advice On Doing Business — You Might Want to Listen!
December 22, 2007
Listen and watch as "the world's richest man," Warren Buffett, explains the criteria he uses for sizing up potential business partners, and determining whether the "fit" is right for moving forward.
Watch the short video and ask yourself how you might apply Warren Buffett's insights on people selection in your own business?
John Michailidis is a recognized business consultant, attorney, success coach, and author of the WealthLoopTM Series of books and training materials for aspiring entrepreneurs and investors. Please use the contact form to get in touch with him regarding personal coaching and business consulting. Download the FREE, 40-page, .pdf "Wealth Creation Manual."
Dramatically Increase Efficiency And Profits With A "Systems Architecture Review" Of Your Business
December 20, 2007
When conducting an initial business review for a new professional client, an area that is most always ripe for massive improvement is what I'll call, "Systems Architecture." By merely defining, prioritizing, structuring, documenting, and delegating the everyday operations of your business you can often realize relatively dramatic increases in both efficiency and net revenue in no time at all.
The framework for a "system architecture review" involves analyzing and defining your business' key functional areas and then further drilling down to uncover the critical success activities upon which those key functional areas are dependent for optimal performance. You'll then prepare a comprehensive operations/procedures manual and delegate to the appropriate staff or outside personnel for execution:
- You first define your business' "Key Functional Areas."
- You then uncover the "Critical Success Activities" required for optimal performance in each of your Key Functional Areas.
- You design work-flow systems that carefully describe the most effective procedures for carrying out your Critical Success Activities.
- You codify your Critical Success Activities in a series of procedures/operations manuals.
- You delegate the execution of Critical Success Activities to appropriate staff or outside service providers.
- You train personnel to meet the standard.
- You monitor outcomes.
- You maintain accountability.
The upfront effort you make to optimize your business' systems will continue to payoff long after the initial work is done.
It is important for you to remember that optimizing your business is a medium-term process that need not be accomplished overnight. Once identified, you can work on optimizing your business, "One critical success activity at a time."
If you'd like do explore the concept in more detail, you can drop me a line using the contact form with the message, "Send Me The Free Systems Architecture White Paper." The free white paper will walk you through an analysis of one business' implementation of the process in one small area of their business. You can use what you learn as a blueprint for implementing your own system architecture review.
John Michailidis is a recognized business consultant, attorney, success coach, and author of the WealthLoopTM Series of books and training materials for aspiring entrepreneurs and investors. Please use the contact form to get in touch with him regarding personal coaching and business consulting. Download the FREE, 40-page, .pdf "Wealth Creation Manual."
