by Doug Gray | Jul 21, 2013 | Business, Coaching, Leadership, Managers, strengths, talent
Yesterday I met with an economic buyer who did not know the potential of her company.
She was representative. So here are some trends and resources and options for you and your colleagues to consider:
1. Customized leadership development programs are the new norm. (Whatever the phrase “new norm” truly means…) Off the shelf programs simply do not work well.
2. Leadership development programs are a $170 billion dollar industry, according to the ASTD, American Society of Training and Development. Corporate earnings are at an all-time high, and individual wage earnings are at an all-time low. Hence, the market opportunities are in corporations that are willing to invest in professional development.
Most leadership development programs fail because they are events, rather than a process based on assessment, consulting, and coaching.
3. “Training” is dead. Training teaches content to a norm. Training is becoming digital and shorter because our digital workforce demands that change. And most training managers do not resist. They are frightened and struggling for funding. At a recent conference for learning and development managers one presenter shared how her department generated revenue (rather than costs) by video taping and selling training modules for their strategic partners. The audience “oohed and ahhed.” However, no one asked, “What will occur 3 years from now when the modules are all digital and only 30% are being passively used by workers who are mandated to take the modules?” Or, “What about the need for powerful interactions between people that only occurs in a live, synchronous event?” Sadly, training is dead.
4. Some “leadership development companies” have survived to date despite the fact that they are event-based. Most challenge courses have been retired. Most companies regard “team building” as an occasional expense- and send people to events such as a spa, winery tour, amusement park, or golf courses. These events are not integrated into strategic needs for most corporate buyers.
5. Leadership development programs can be integrated into strategic needs, and they can target specific needs and industries. We have done so for years. With metrics and case studies that satisfy any cautious economic buyer.
6. Future business revenue for leadership development companies will come from select alliances/ partnerships with service providers who can a) provide customized content in related subjects, such as assessments, change management, operational efficiency plus b) targeted sales to high growth industries such as health care, technology, and mid-market businesses. The money exists.
Leadership development companies can make big money by targeting those industries.
Call me for details on global leadership development coaching with the largest providers of assessments and coaching and consulting.
And stay away from any providers who are not affiliated with partners who can provide the scope your company needs.
The “next normal” (whatever that phrase means) in leadership development requires smart alliances and partnerships with trusted service providers.
by Doug Gray | Jul 20, 2013 | Business, family, Leadership, Managers, money, Sales, Success, talent
Stuart is an expert sales consultant, recruiter, customer service trainer and technology provider for independent restaurants.
Based near Minneapolis, MN he promotes excellent customer service throughout the world.
Check out this MP3…
Stuart Gray 7.19.13
by Doug Gray | Jul 2, 2013 | change, Coaching, Leadership, Managers, money, Success, talent
Recently a client was struggling with two related issues: 1. How much to pay his employees and subcontractors, and 2. How to manage his accountant who regularly arrived late for scheduled meetings.
I suggested that he should bill the accountant at least $1.00 per minute that he is late.
“Huh?” He asked.
Then I reached into a day timer and showed him the following image. (I tried to find a better image online but was not successful.)
The column headings are Salary year/ Salary week/ Benefits= 40% Total salary/ Total week/ Value per hour/ and Value per minute.
For instance, if your salary per year is $70,000, your Salary per week is $$1,346, your Benefits are $538, your total week is $1,885, your Value per hour is $47.00 and your value per minute is $0.79.
So why wouldn’t you charge the accountant at least $1.00/ minute for being late? His tardiness is 1) expensive and 2) unprofessional. I urged him to charge a retroactive late fee. And I referred him to other accountants.
The second question is more complex. How much should you pay employees and subcontractors? The market response is “as little as possible, according to their value.” That is why we pay minimum wages and low salaries for remedial work.
For most business leaders, we are slow to pay others for remedial work.
The best business leaders, however, ALWAYS delegate low paying tasks to others. And they refuse to do remedial work.
Back to my client. I asked him, “So, what do you think your time is worth?”
He said, “At least $70,000/ year.”
I said, “OK then, why aren’t you excited about the opportunity to pay others $10-24.00 per hour to do work for you?”
And that, of course, led to a deep conversation about self-worth and the need to delegate low paying tasks to others.
So, what is your time worth?
7
by Doug Gray | May 11, 2013 | Business, change, Coaching, exercise, Managers, money, Personal Development, Sales
Fact: We all aspire to be a superhero
Fact: I have written a book with a purple cover called “Passionate Actiuon: 5 Steps to Creating Success in Life and Work” (2007)
Fact: There is no sex in the book. Sorry.
So what does it mean to be the Passionate Action guy?
1. Passions are expressions of strong emotion. They help us create. Passions lead to something else. Think of any relationship– there are passionate impulses at the start, yet relationships are hard to maintain over time. Think of any business- there is a passionate focus at the start- yet it is hard to maintain most businesses over time. Sparks start fires. But they do not maintain fires.
2. Actions require focused accountability. Nothing sexy involved. Daily habits lead to results. Make your sales. Focus on delivery.
This is HOW I help my clients make money and serve others. Call me at 704.895.6479 for details.
My experience is that we create success when 1) luck meets 2) prepared opportunity.
In that formula, the only thing I can control is preparation. And so I continue, day after day, year after year. Since 1997.
Success starts with the physical actions. Like running and yoga stretching. Like daily calls to prospects. Like KPIs.
So why wait? Call me at 704.895.6479 with your story.
Most of us need a little more passionate action in our lives.
by Doug Gray | May 7, 2013 | Business, change, Financial Professionals, Managers, money, Sales, strengths
Since 1997, I have been delivering value to clients. That fact means that I market and sell my services every day. In everything I do and say…
Years ago I coached a new franchisee in the Sandler Sales Program, called President’s Club. Pat needed to distinguish between high pay and low pay activities, because he is distractible. (Like most small business owners.) I helped him increase his business over 300% in 6 months. He had to do so. I strongly recommend the President’s Club content. And I strongly recommend re-visiting the President’s Club content, which is what I did yesterday.
High Pay marketing activities are those that will likely lead to relationships and higher value sales.
- direct meetings with qualified prospects
- direct meetings with referred or pre-qualified prospects
- invited speaking in your area of expertise
- cause marketing in your area of expertise
- networking with buying agents
- invited writing as a credible expert
Low Pay marketing activities are those that will likely lead to transactions and lower value sales.
- email marketing
- direct mail marketing
- interruptive advertising
- paper and digital advertising
Last week I met a local marketing expert, Shelly, who provided a circular model of marketing services she could offer her clients. Imagine spinning the Wheel of Fortune with as many colorful options. I appreciated her ideas, but felt dizzy.
Last week I also met a financial advisor who had been a member of MDRT, the Million Dollar Round Table, for 11 years straight. He was exhausted. His marketing system required that he deliver seminars to local retirees who needed to invest in his estate planning solutions. He wanted to know if there was something else he could do that would yield similar high results, but be easier. I said, “No. Nothing is simpler. Thank God.”
He give me a strange look, and asked, “What do you mean?”
I explained, “If you want great compensation, then you need to provide high value. The laws of marketing require that. When we give great value, then and only then we receive great value. You know that better than most, who dream of being at the MDRT level. What you need is a regular kick in the ass.”
He agreed and hired me to coach him.
You can too. Call me at 704.895.6479 now.
So, are you engaged in high pay or low pay marketing?
by Doug Gray | Apr 23, 2013 | Business, change, Employment, Leadership, Managers, money, Sales, strengths
Hello Ric,
So nice to see you yesterday. (I’m excited about the volunteer work we are doing for …)
Yesterday we talked about the possibility of providing assessments for senior leaders at Company ABC.
We have never discussed your need for multi-method, multi rater assessments that have tremendous predictive validity. This methodology is much better than any assessments I have found, in 30+ years of assessment work. If interested, I encourage you to forward the attached information to your colleagues for review.
How much would you be willing to invest in information that predicted your senior leadership talent and bench strength and succession needs? I would like to meet with you or your colleagues who might need such predictive assessments.
I have partnered with Adam Ortiz, at Executive Development Consulting, to do this work for other clients. We would love to provide these assessments for Company ABC, at any location.
Your benefits include:
- Scalable, duplicatable model with external objective assessors
- We have the capacity to deploy immediately, with teams of assessors already working throughout the world
- Doug and Adam bring expertise with a career of assessments, plus leadership coaching expertise throughout the world.
- This multi-method, multi rater assessment process can be replicated throughout any division at your firm, and the reliability and validity is extraordinary.
- Cost effective assessments that provides objective data, with tremendous predictive validity, that have extraordinary value to you and your colleagues as you make strategic decisions about senior leaders.
If you have any interest in discussing any coaching or assessment work, please let me know.
I am confident that we can provide tremendous value to your firm.
Respectfully, Doug Gray, PCC
704.895.6479 office, 704.995.6647 cell
https://actionlearnin.wpengine.com/
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