The Best of 2010: Strategies That Worked

"Always bear in mind that your own resolution to succeed is more important than any one thing." - Abraham Lincoln

This is our final blog post for 2010. Before we uncork the champagne and toast the New Year, let’s look back at business strategies that worked in 2010. Our clients had some terrific successes this year. When we sat down and looked at their breakthrough results, there were some common themes that emerged:

Sales and Marketing Plans – The companies that soared in 2010 were the ones that took a serious approach to sales. They invested time and dollars into well thought out sales and marketing plans, working hard to align on target markets and the necessary actions to pursue them. They continually assessed their progress throughout the year and made adjustments for what was and wasn’t working. A persistent, strategic commitment to sales resulted in unprecedented revenues for several clients.

2. Commitment to Time Management - One of the most important things we work on in our coaching is time management. Business people have lots to accomplish, but what they often don’t realize is that it all has to occur in time. Every activity whether it be sales calls, returning phone calls or management meetings need to be scheduled on the calendar. We tend to let things like sales slide by the wayside when we don’t have it scheduled in our workday. In 2010 the winners were the ones who mastered their calendars.

3. Working as High Performance Teams – We had several clients this year experience tremendous breakthroughs in the ways they worked together. When talented individuals focus on common goals and learn how to shift away from past complaints, the door opens for incredible progress. Coaching gives many companies the forum for developing systems and structures that allow teams to flourish.

4. Taking the Coaching – Companies hire us because they want help fixing whatever is broken in their businesses. We are experts at helping companies develop strategies to improve sales, productivity, profits and efficiency. But as the old saying goes, “You can lead a horse to water…” The companies that succeeded this year were the ones who took the coaching, the ones who were open to change and willing to commit to delivering on their intentions for their businesses.

At Possibilities Unlimited, we are privileged to work with an amazing group of clients who believe in the power of people working together on a common goal. We love partnering with businesses to achieve unprecedented results. If you could use a partner who is just as committed to your business succeeding as you are, we would love to work with you. Give us a call for an introductory consultation and see what’s possible for your business in 2011.

Are You Ready to Win?

The Case For Coaching

"A good coach will make his players see what they can be, rather than what they are." - Ara Parashegian, Hall of Fame College Football Coach

We’ve all heard that definition of insanity…repeating the same actions over and over with the expectation of a different result. This adage is especially true in business. We can’t keep sticking to the status quo and expect that profits will suddenly increase, our employees will begin working together as a high-performance team, and our sales numbers will jump through the roof.

If your business fell short of your intentions this year, now is the time to determine what actions you are going to change in 2011. Year-end is the perfect time to evaluate what worked and what didn’t. And most importantly, what you are going to do about it.

A business coach can be a tremendous asset in this process. It’s always beneficial to have an impartial perspective and input when you are looking to take your business in a new direction. A good business coach will help you to develop specific and measurable intentions for the business. A really good business coach will not sit back and agree with you about all the reasons you can’t change. A skilled business coach will show you new possibilities, and help you chart the path toward breakthrough results.

Sometimes business people resist getting help with their businesses. We all have egos that can get in the way of our progress. And we all too often fall into that trap of thinking that if we just work a little harder, or a little longer, things will work out fine. The truth is that companies that make an investment in business coaching are far more likely to thrive than those that resort to “business as usual.”

At Possibilities Unlimited, we are committed to giving people access to the actions that can change their businesses for the better. We are experts at designing intentions that are the framework for success. If you are looking to transcend the status quo in 2011, give us a call. We’ll put together a winning formula for your business and partner with you to deliver unprecedented results.

Are you ready to win?

The Importance of Thank You

“Appreciate everything your associates do for the business. Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. They’re absolutely free and worth a fortune.” Sam Walton, Founder, Wal-Mart Stores

This is the season when many of us have gifts and giving on our minds. We want to remember family members, friends, and all the people who made it easier to get through the year.

In business, it’s always a good idea to let your customers know you how much you appreciate their loyalty. We send cards and gifts and do our best to reach out to clients in a friendly and personal way. Even the simplest gesture can go a long way to keeping clients happy and feeling cared for.

But what about your employees? How often do you let your employees know that they are doing a good job? That you notice the extra effort they put forth? That your company could not run without them?

In these days of tighter budgets and trimming the fat, employee recognition has taken a big hit. Many companies have done away with the company Christmas party, and the Christmas bonus under the auspices of “Well, they’re lucky to have jobs at all.” But what many employers fail to understand is that is isn’t always about cash or excess. Most of the time employees are eager for recognition. And recognition does not have to break the bank.

Studies show that appreciation goes almost as far as financial reward. People have a tremendous need to know that their efforts matter, and that someone has noticed their hard work. Have you ever taken the time to define each employee’s contribution to the bottom line? Point to their strengths, let them know you noticed what the good things they did this year. Even if the employee is not one of your stars, a little encouragement can go a long way toward his feeling like a valued member of the team. And when people feel like their contributions are valued, they tend to be more invested in doing a good job.

Here are some things you can do to spread holiday cheer among your staff:

1. An impromptu coffee break – you provide the lattes and muffins and let everybody chat for a half hour.
2. Gift certificates for a half day off.
3. Recognition in front of their peers of a job well done. Be sure to say “Thank You” and explain how the person’s efforts helped the company as a whole.
4. A small humorous gift that shows you were paying attention and can share in an inside joke.
5. Employee of the month honors. The reward could be that coveted parking spot or even a silly trophy that sits on the employee’s desk for a month.

How do you say “Thank You?” Chances are it doesn’t matter so much how you do it, but that you do it at all. In this season of giving, be sure to thank the ones that show up every day and make it all happen. Especially if they are working longer hours with fewer perks. Be creative and sincere, and make this a winning formula not only during the holidays, but all year long.

Are you ready to win?

Customer Service - Do You Hear What I Hear?

“There are no traffic jams along the extra mile.” Roger Staubach, Legendary Hall of Fame Quarterback

The past several days I have been having a lot of trouble with my Hotmail account. I can't get in to read my email. I’ve tried to communicate with the good people at Hotmail to no avail. I’ve also been monitoring the rising frustration of other Hotmail customers who have been posting their issues on forums.

It struck me that we should talk about good customer service. What makes you feel like you have received good customer service? And what does that mean to you when you are making buying decisions?

At Possibilities Unlimited, we coach our clients to make their customers feel heard. That’s the bottom line, isn’t it? When things go wrong, we all want to feel like someone is in our corner, that they’ve heard our question or concern, and are doing everything they can to fix it.

The mere fact of acknowledging a customer’s concern goes a long way to keeping him happy. Most people understand that things go wrong from time to time, and they can usually forgive an honest mistake when the company admits what they did wrong and moves swiftly to correct the error.

What if the opposite is true? What if the company makes excuses or shifts the blame? What if they don’t respond to customer questions?

When people don’t feel heard, they start talking louder. If you ask your child to clean his room and he doesn’t respond, you raise your voice. Same thing happens in customer service. If people don’t get answers, they raise their voices, either by making additional demands or threatening to quit the service.

In Hotmail’s case, you can almost hear the collective screams of many people who have been locked out of their email accounts for days without answers. Hotmail’s repetitive response goes something like this:

“We have been doing maintenance on the Hotmail system. You should not experience outages for more than four hours. Try again later.”

They don’t address the problem head on, and they seemingly aren’t listening to people who have been locked out for far longer than four hours. Many people are posting that they have already gotten Gmail accounts and dumped the Hotmail service.

Could this have been avoided if Hotmail had posted a general message like this?

“We know you must be very frustrated that you can’t access your email. It’s a big problem, and we don’t have it figured out yet. Rest assured that we have brought in extra help and are getting to the bottom of the issue as fast as we can. We will post updates every hour on our progress.”

We can all learn a lot about customer service from situations like this one. Just remember that honesty and a listening ear can be a winning formula when the unexpected happens.

Are you ready to win?

Keys to Opening a Retail Store

Blogger's note: Today's blog comes from Guest Blogger Harvey Schwartz. Harvey shares a lifetime of retail experience in his blog thoughts. He was the owner of the world-renowned 20th Century Props, a premier supplier of set decor to the film industry. We welcome Harvey to the Possibilities Unlimited blog! If you have questions or comments for Harvey, you can reach him via info@consulting2win.com.

“Do not wait to strike until the iron is hot; but make it hot by striking.” – William B. Sprague, Historic American Clergyman

Many people have dreamed of opening their own retail store, usually in response to a passion or hobby that they want to pursue as a business. With today’s uncertain job market, more and more people are taking the plunge into starting their own business or retail outlet. Whether you love quirky antiques, rare books or pet accessories, there are a few things you need to consider before opening any retail location.

First, review your inventory. Are you selling things that appeal to a particular niche market? Or are you carrying items designed for a broad and diverse clientele? Make sure you know who your target customer is and where they are likely to shop.

Visit other retail stores that are similar to what you have in mind. Ask questions about what’s selling, what they wish they had more or less of. Ask about the location. Are they successful where they are or would they move if they had it to do over?

Be sure to notice the price points of items similar to yours. Try to determine reasonable prices that people will spend. If a store has an abundance of a certain item, chances are that means it’s not selling. If they are out of stock, that could be a hot item.

The size of your products will determine what size store you need. Are you selling furniture or jewelry? Obviously, the space requirements vary depending on the inventory. Do you want to be in a mall or on a local street? Is it possible for you to share a space with a complimentary vendor? Combine resources and share the costs? Will you be near other similar stores or will yours be a “destination” source for your product? No matter what you decide, the old adage is true… “Location, location, location.” Spend a good deal of time researching your options and negotiating a good deal. Many landlords are open to bargaining with you in order to lease space, so be sure to get the best deal you can.

The best location may be in your own living room! Depending on your product or service, the best avenue for you may be web sales. You can design and promote your own shopping cart website or you can list items on EBay or other auction sites that share your specialty.

Lastly, consider your financial position before you open your doors to the public. Do you have enough in reserves to run your business for six months? You want to have the luxury of building momentum for your business without worrying about being able to cover the rent.

Opening a retail store can be a challenging, yet very fulfilling endeavor. Is it time for you to start your dream business? If you need more coaching on how to launch a successful retail store, give us a call. We’d be happy to share some winning formulas for getting your business off the ground.

Are you ready to win?