Action Learning Newsletter - November 2006 |
A. From Teams.
Last week I led a retreat for CEOs in the colorful mountains of Blowing Rock, NC.
Two lessons emerged. 1) Team performance increased when individual performance increased.
Each person's role, and activity, contributed to the team's strategy and execution. The
winning teams each kept to their role as a leader or a follower. 2) Learning points occurred
every time someone did an unfamiliar activity. Whether sharing feedback from a 360 review,
or edging backward over a cliff on a thin rope belay, the unfamiliar activity led to learning.
Makes me wonder how often I support my team by doing something less familiar.
B. 2 Ratios.
Last month I interviewed a Sales VP from a mutual fund company. He said that the skills
that make him unique include product knowledge and practice management. When pressed,
he offered this best practice tip: Determine who pays you, determine how many hours/day
you can work, then create two ratios. For instance, imagine that you get 80% of your
revenue from a specific group of clients, and it requires 6 hours/day of customer service.
If your daily revenue is $1,000, your revenue ratio is $1000/6 or $166/hr. That is how you
make your money. The second ratio is an expense ratio, the amount of money/hour you need
to service your customers. In our example, imagine that you need 4 hours/day to service
those customers and your average expense/customer is $100/day. A best practice tip is
to decrease your expense ratio, increase your revenue ratio, or do both. He has learned
to measure each ratio over time. When he schedules 800 appointments/year, he knows the
average value of each hourly appointment. What would it take for you to determine yours?
C. I recently saw an interpretation of Great Expectations, by Charles Dickens.
It reminded me of some lessons for business leaders. If you recall, the ambitious young
boy becomes infatuated with Estella, a cold-hearted beauty. Lessons include:
- Stay on course, following your passion, even when your dream is elusive
- Keep your faith that money is available, even when you seem to have less than others
- Learn who your benefactor (client) is, then serve him (them)
- Develop your strengths, your gifts, until you are the best in your class
- Remain humble, despite all your great expectations, because life will bring surprises
2. DEAR COACH
We have been working together for 18 months and in that time my business has
grown 160% Last month was my best ever, almost doubled in revenue. I should
be feeling happy I guess. However, I still have trouble focusing on what I can
control. And I have trouble celebrating. What can I do?
Dear Coachee: As you know, your business growth is a result of all the work you
have been doing. Those focused actions have been difficult. Some days are a net
loss. Many days are a net win. When you defined your plan, then focused on your
points, you found more clients and revenue. There is a relationship between our
feelings and our results. One way to think of that relationship is as a series
of lines from feelings to thoughts to actions to results. Celebration is an
expression of feeling, like a shout for joy. Some people have no desire to
celebrate life. But you do! I remain confident that you will determine the
answers you need, and express the feelings you need, as you need to do so.
Coaching is all about focusing on where you are now and moving toward where
you want to go next. When you are confident, focused on your successes, you
are even more attractive to your prospects. The results will follow.
Some coaching questions for you include: How does it feel to grow your business? What is worth celebrating?
3. ACTION STEPS AHEAD: serving others, confronting challenges, and you
A. Serving Others.
Last Saturday, Action Learning Associates hosted a charity fundraiser for Diabetes
research. 26 people participated in an adventure racing clinic and a 3-hour race
including canoeing, mountain biking, and orienteering. Local sponsors included 3
retail stores, a magazine, 5 experienced support people, and Lake Norman State Park.
We raised $705 for diabetes, which may help some of my family members. But a participant
said it best, "Every dollar counts. We are close to finding a solution. When we work
as a team, whether racing or in any aspect of life, we are always stronger than when
we are alone. Thanks for your contributions!"
B. Confronting Challenges.
Last week, Team Action-Learning.com and 93 others from all over the world were on
ESPN2 and ABC Sports' coverage of Primal Quest 2006 in Moab, Utah. This 450-mile
course took us 9 days to finish. The images are sensational. Several clients have
re-started exercise programs or re-focused on professional goals as a result of this
footage. I'm reminded of Margaret Mead's famous quotation, "Never doubt the power
of a small group of thoughtful, committed people to change the world. Indeed, it's
the only thing that ever has." Makes me wonder what challenges you and your team
need to confront.
C. And you.
Lately several coaching clients have been concerned about taking care of their health.
Many of us tend to think of health as a physical entity, and tend to notice when we
have poor health. And as we age we notice the effects of not maintaining our health.
Like cascading water, poor health affects emotional, cognitive, and spiritual aspects
of our lives. So does good health. I appreciate the wisdom in Dr. Andrew Weil's
Healthy Aging (2005). He has many practical tips for controlling the affects of aging.
Thankfully, we can always improve our lifestyle choices. Prevention does pay off.
If you study the effect of obesity on the US, one shocking reality is that the wealthy
are now making more healthy lifestyle choices including regular exercise, balanced meals,
and adequate sleep. Everything we were taught as children. The fat and happy "Robber
Baron" is now living on the beach and working out. In contrast, obesity is associated
with diets that are high in cholesterol and inactive lifestyle choices. I care about
you. And I encourage you to take care of your physical health!
HOMEWORK
I recently asked two children (over breakfast) if they would rather be happy or
right. One leaped up and shouted, "Happy!" The other stood firm and said, "Right!"
Which would you rather be, happy or right?
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