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Day: December 6, 2017

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Best Practices Growth Leadership Personal Development

5 Steps to Build and Develop Trust

Every good business relationship is built on trust. From creditors to employees, people need to trust that you’ll treat them the right way. Once trust is established and they know they can depend on you, they will extend their support even further, and may even make exceptions for you. This is essential to business success.

The sooner you show that you’re dependable, the quicker you’ll see the benefits, for instance commitment, devotion, priority ranking, extended credit, increased sales, and more opportunities. You must be proactive! Find ways to show your employees, creditors, and clients that you have their best interests at heart.

Here is our short guide for building and developing trust:

 

  1. Communicate. And communicate often. Be transparent when it comes to what you’re doing and why. Don’t leave anyone guessing what you’re up to—keep everyone informed! We suggest having regular meetings with suppliers, outsourced services, creditors, and your team. Share important information with them early and often. This alleviates their fears and allows them to feel valued. The more your team knows ahead of time, the more confident they are working with you.

 

  1. Be honest! If you purposely reserve information or harbor ulterior motives, you will destroy relationships and your reputation in your industry. Voluntarily discuss loopholes to assure the people you depend on that they will not be exploited. Make it clear that you’re a true partner who is looking out for them, not one who’s waiting to stab them in the back! Prevent them from keeping their guard up. Otherwise, you’ll get only the words of your agreements, not the spirit behind them.

 

  1. Create strategic alliances. Identify who gains if you gain, and treat them like partners. Share your ideas for growth and development with those who would prosper from a business relationship with you. Figure out how to advance their business while decreasing your need for money. For example, construct contracts for improved terms and free warehousing in return for longer term commitments.

 

  1. Take care of your customers. Nothing says, “Now that I have your money, you’re stuck with my products” like bad customer service. Customer service takes priority over what you’re selling. When you do your best to make that the sale is made, but can’t be bothered to prevent or fix an issue, you are asking competitors to take your customers. This is detrimental to your long-term business security. Without good customer service, your buyers won’t continue to buy, and they’ll tell others about their negative experience. Customers become devoted supporters when you treat them like a friend.

 

  1. Be responsible. Don’t try to play the blame game or cover up when you make a mistake. It will only worsen the situation, hurt your relationship, and lose you valuable trust. If you realize you’re going to miss a payment, contact your creditors right away. And be prepared! Develop a strategy that will bring your account up-to-date. This shows your empathy for the risk they’ve taken on you. Remember: You are not judged when everything goes smoothly. You’re judged by how you handle mistakes.

Long-term good behavior is the foundation for trust. In the first stages of a business relationship, trust can be lost easily. How you deal with an awkward situation tells your employees, creditors, and clients all they need to know. It could help them justify putting their faith in you, or it could lead them to regret the relationship. Trust is a lot more than saying, “Trust me.” And you can trust us on that!

For more, read on: http://csnetworkadvis.staging.wpengine.com/advisor/michael-houlihan-and-bonnie-harvey/

 

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Entrepreneurship Management Personal Development

How Employee Engagement Can Be Smothered by Compensation, Compliance, and Corporate Structure

Today’s C-Suiters search for ways to enhance empowerment, employee engagement, and entrepreneurial culture. They can say they want a more innovative, entrepreneurial environment, but they need the tools to get there.

Our book, The Entrepreneurial Culture, 23 Ways to Engage and Empower Your People, is a companion to our New York Times Best Seller, The Barefoot Spirit, which gives you what you need to foster a dynamic, constructive, and progressive corporate culture. The Entrepreneurial Culture speaks to corporations, giving them successful entrepreneurial tools to engage their employees.

Developing a new corporate structure from scratch isn’t necessary—these tools can benefit a company’s present structure. In order for these tools to be successful, changes must start from the top, and tip-top management must be eager to make those changes. But, a common trait of many C-Suiters is that they are terrified of change. A C-Suiter might think that change will result in legal issues, wasted money, or an employee rebellion. What they might not realize is that they can prevent employee empowerment and engagement by praising the three sacred corporate cows.

1. Compensation: Salary is the most popular method of compensation among corporations. But salary does not pay for performance—it pays for attendance. With salaried pay, a raise is not personal. It’s not based on accomplishments, good ideas, or profits; instead, it’s based on tenure. Why should an employee care what they accomplished this week if their paycheck will look the same as it did last week? This teaches employees that they are unappreciated—they are not respectable assets to the company. Two or more employees might be paid the same salary if they do the same work. So, why would either of them put in extra effort when it won’t be acknowledged? These people will leave to find employment that pays in line with production. Who can blame them? How can an employee work to their potential if the company’s compensation plan holds them back?

2. Corporate Structure: Most companies operate in a pyramid shape, functioning from the top down. Within the company pyramid are several smaller pyramids. Each small pyramid ferociously defends itself from the other small pyramids, creating an environment susceptible to turf wars. This jagged structure can prevent great ideas from moving upward, potentially stifling any chance of real breakthrough. It’s tough to expect employee engagement when their ideas will be forgotten, withheld, or altered. How can anyone feel comfortable coming up with resolutions for other departments’ challenges if they are seen as forbidden territory.

3. Compliance: Compliance is designed to mitigate liability. Instead of finding reasons why things should be done, the legal department finds reasons why they shouldn’t be. Compliance is not a quick process—it creates a backlog, and employees know it. This alone can discourage them from proposing new solutions and ideas. Since the legal department is paid by the hour, they have an interest in running everything through compliance. Some legal departments go as far as to discourage public recognition for good work, fearing it could be used against the company in a legal dispute. What these legal departments fail to understand is that public acknowledgement encourages positive production, sets a standard for appreciation, and creates a respectful environment.

Want to discover how to achieve entrepreneurial culture by rounding up the sacred cows and removing the element of fear? Come back soon!

For more, read on: http://csnetworkadvis.staging.wpengine.com/advisor/michael-houlihan-and-bonnie-harvey/

 

Categories
Entrepreneurship Management Women In Business

Putting the R.A.P. in Rapport – Mastering the Art of High Power Communication

Imagine hearing a conversation in a foreign language and immediately being able to understand what is said and communicate effectively in that language. How powerful would that be?  I’ve always had a secret fantasy of being able to do that. One of my favorite fictional characters is Lieutenant Commander Hoshi Sato, the Human Linguist from Star Trek Enterprise whose superpower is her ability to instantly connect with anyone.   I have always wanted to be it just like her.

Granted, speaking Klingon or Vulcan isn’t essential in the business world, or for that matter on planet Earth; yet the gift of being able to communicate effectively with anyone, at any time, in any given situation is extremely valuable.

Whether you have a product or a service, you are in sales. One of the biggest mistakes that people make in offering their products and services is working hard to sell something when there is no need or no perceived value.  When it comes to sales, proper communication is essential and can make all the difference between closing the deal or walking away empty handed.

What if you can look at your sales process in a completely different fashion? What if you were connecting to people and offering them solutions to their pain, suffering, and problems?

Delivering your message is more than just what you say. It is how you say what you say, when you say it, and why you say it and who you are when you deliver your message.

Whether in a one-on-one situation, on a stage or in writing, high power communication is an essential key to High Performance. It is a topic that I review with my clients both in sales and in relationships. Raising the level of your communication will deepen your connection with people and enhance your relationships, leading to higher affinity and increased sales.

Aside from choosing the proper target market, it is essential to make a connection with them. People want to feel valued and appreciated. Who do you do business with? People you like and care about. If you want people to do business with you, wouldn’t it help if they felt that you cared about them?  Show them you care, get to know them a bit, and build rapport.

We all have our own unique way of connecting and building rapport; look at it as your personal “Rap”. Most often it comes naturally and you don’t put much thought behind it. What if you made it intentional in order to uplevel your game and improve your results?

Let’s look at the strategy behind Putting the R.A.P. in Rapport.

R- Relate to Your Audience

A- Active Listening

P- Present Your Solution

R-Relate to Your Audience
 Your physiology and body language can help you make a connection. Keep your body open and your posture nonthreatening, give the other person proper personal space. Help them feel at ease. Remember like attracts like and connects to like.
Pay attention to your voice. Are your tone, volume, and pitch similar to your customer or audience?    How about your energy? Are you excited about making a new connection and the possibility of helping someone without overpowering them?

Are you speaking their language? Are you using terms that they can understand? One of the biggest mistakes is getting too technical by using professional jargon with someone who really doesn’t care.

A- Active Listening
What is behind the words? Are you truly listening to your audience? What are they asking for? Are they hesitant, do they have reservations? Remember, people will buy what they value and what they want, not necessarily what they need. They look for a solution to the problem, a relief for their pain or suffering. Are you listening to them and speaking their language?

Understanding your customers’ primary mode of communication will help you better relate to them. You can figure out their communication mode by listening to the words they use to describe things. People fall into the categories of visual, auditory, and kinesthetic. In other words, some are more comfortable with seeing things, some need to hear things, and some need to feel things. Your primary mode of communication is the language in which you process information and connect to others.

Once you have successfully related to your customer or your audience, and actively listened to their problem, you can move to the third and final step by offering and presenting your solution.

P- Present Your Solution

People want solutions.  They want to know what is in it for them. They want to know that things will work and the problems will be resolved. Push a sale on them, and they will walk the other way. By using high power communication, you can connect with them, listen to them, identify their problem, and offer them a solution that will change their life.
Once the need and value have been established by understanding the problem, offering a solution is an easy process. Wouldn’t you give a fresh towel to someone who’s soaking wet? All they need is to dry off. You wouldn’t want to sell them Cologne, would you?

Effective communication in any situation is a combination of several actions. It is always a matter of having a good R.A.P.  Listening alone won’t build a good dialogue. However, when you listen and truly hear the other person, you have the ability to build better rapport with them. We all have the need to know we have a voice and are being heard. Practice all three aspects of communication and challenge yourself to master them. When you do that, you will build trust and a great following, and you will create loyal customers who will come back for more!