Category Archives: Business management

Giving And Receiving

You work hard in your vegetable garden and harvest an abundance of fresh produce. You fill a bag full of tomatoes, beans, cucumbers, and squash and knock on your neighbor’s door to share the bounty of your harvest. As you hand her the gift from your garden, she asks if she can pay you something. You decline, but you also understand why she’s asking. If it’s not Christmas, a birthday, or an anniversary, people are uncomfortable with the idea of receiving a gift.

We have a human tendency to want to work for everything we get. That is sometimes accompanied by the feeling that what we don’t earn is sometimes undeserved, and that feeling keeps us from both giving and receiving in a way that blesses others.

Importance Of Giving And Receiving

Life is about graciously giving and receiving in all areas of our lives. We must all bless in order to both be a blessing, and receive blessings, in life. But when it comes to our businesses, what are the practical expressions of blessing others?  Consider these as examples:

  • Under-promise and over-deliver.  Learn to employ the motto, “Always deliver more than you promise.”
  • Add valuable content to social media.  Follow the 80/20 rule.  All of your social media content should follow the rule – 80% value added and 20% asking for business.
  • Don’t nitpick the pennies.  If you charge hourly fees, as I often do, be more concerned about doing what is right than getting paid for every minute you spend with your clients.  Trust me – they know when you do, they appreciate it, and they will bless you with more business because of it.
  • Be employee-centric.  Developing a profitable business requires a customer-centric approach – and developing a customer-centric business requires an employee-centric approach.  Don’t expect your employees to care about and for your customers until they know you care about them.
  • Be customer-centric.  Focus your business on blessing and delighting your customers.  Always remember – people do business with those whom they know, like, and trust.  Be known, be likeable, and be trustworthy.

How many more ideas can you and your team come up with?

 

©2014 by Gary L. Smith and Optimum Performance Technologies, LLC (optechs.com).  All rights reserved.

5 Practical Steps For Drowning Your Problems

There’s an old saying that contains a great deal of wisdom:

When problem solving, don’t just put out the fire – find the guy with the match!

Another saying admonishes us to make sure that we solve problems completely. It simply says:

Hold every problem under water until it drowns!

Learning Effective Problem Solving

Both of these statements are aimed at communicating one thing to those of us who are in the problem solving business – and that is that far too often, problems are never solved because people are addressing the symptoms instead of identifying and killing the real root cause.

My forty plus years of experience as both a technical and business problem solver have taught me some powerful lessons. Here are a few of the things I’ve learned when it comes to effective problem solving.

  1. Most of the time, the root of the problem is deeper than you think. Just like a pesky dandelion in your yard, the flower (symptom) waves in the wind, but the root of the plant (the real cause) is hiding deep in the ground. You can chop the top off all you want, but until you extract or kill the root, the plant (problem) is going to keep coming back.
  2. Be patient. Taking the time to think things through, and being careful not to overreact, is important in the problem solving process. Cool, logical, analytical heads always prevail.
  3. Listen to the process. Every business process has a story to tell if you listen closely. Observations, data collection and analysis, and a healthy dose of common sense can be integrated to create a picture of what is going on. Just as a doctor uses the skill of observation, combined with information in the form of test results, to diagnose what is wrong with a patient, so must you combine all of the information you can gather to understand the problem with which you are dealing.
  4. Test your theories. The ultimate test in solving a problem is not “did it go away.” Where the rubber meets the road is in answering the question, “Can you turn it on and off?” Being able to turn a problem on and off means that you have identified the causative factors that, under the right conditions, allow the problem to manifest itself.
  5. Verify effectiveness of your solutions. When you finally put corrective actions in place, always monitor the process for a period if time to make sure that the problem never rears its ugly head again.

Need help with problem solving? Give us a call at 203.599.1467, or email us at info@optechs.com. We’re here to help!

 

©2014 by Gary L. Smith and Optimum Performance Technologies, LLC (optechs.com). All rights reserved.

Al Kim Hosts Gary Smith For Rise And Shine Radio Show

Gary Smith was recently a guest of the Rise and Shine Radio Show hosted by Al Kim. WSDK 1550 AM radio station allowed the two radio show hosts to join forces for an on-air segment, and each broadcaster brought their best material to the table.

Al Kim Talks About Achieving Unusual Greatness

Gary discussed his most recent book, “Achieving Unusual Greatness,” and how it was constructed from several blog posts created in the past few years. Gary crafted the book to be read a little at a time or all at once, giving daily lessons that are the “essence” of achieving success.

Gary told Al Kim that he hoped people would use the book almost as a daily inspiration that could be quickly read for motivation. He said it was one of the more powerful projects he had worked on because of the amount of years it spanned.

Macro View Of The Business World

Gary said his background as an engineer in the manufacturing business led him to seek further education to gain a macro view of the business world. He said moving away from providing a small part of a big business has been a great career choice because he understands where those smaller, integral parts fit into the large model.

Looking For A Change Or Improvement

Al Kim commented that the economy in Connecticut was not in its tip-top form, and he asked Gary what he would say to someone who was looking to make a change or improvement. Gary said it’s important to look at your passions in life and what you’re good at before pursuing a job.

He said many people give up looking for work because they cannot find a position in their field, but a simple inventory of what they enjoy doing most in their life can lead to civic activities, leadership roles and much more.

Trusting God To Spur Change

One of the hardest things to do in life is to accept and embrace change. Gary talked to Al Kim about the common nature to resist change and how it can hold people back from their full potential. However, by trusting God and asking him to guide you, you can make major life changes that lead to amazing opportunities.

He said the most important thing to dealing with change is having a positive attitude and trusting God’s hand to guide you to where you belong. Fear is something that will have to be faced in these situations, and Gary said fear can be your best friend or your worst enemy.

Learn From Gary Smith

Whether you’re looking for business success or personal coaching, Gary has helped countless people through the toughest times of their lives. You can contact Gary through his business, Optimum Performance Technologies, to find out how he can help you get through major changes, understand your business specifics better and much more.

Be sure to tune into The Gary Smith Show on WSDK 1550 where he gets his messages out to everyone. He is always looking for new guests to showcase who have different backgrounds and skills than him, giving the audience a good sense of what can be achieved in life if you put your mind to it.

A Different Perspective On Your Business Competition

“Know your enemy” is a famous phrase from Sun Tzu‘s sixth-century book, The Art of War. The exact quotation is: “If you know your enemies and know yourself, you will not be imperiled in a hundred battles; if you do not know your enemies but do know yourself, you will win one and lose one; if you do not know your enemies nor yourself, you will be imperiled in every single battle.”

When one is engaged in real warfare, the words above may be very valid.  However, I think we all need to take stock and ask ourselves how it applies to our business lives.

Evaluating Your Business Competition

A number of years ago, I was running a manufacturing operation for a Connecticut based company. One of our primary competitors was based in Florida, and I knew the company well. The president of our company approached me one day and asked me for my thoughts on a proposal he was considering. He had visited the area where our Florida competitor was located and was considering purchasing a facility nearby.

Our business competition was having some financial difficulty, and the president’s logic was that if he purchased a facility in the area and hired some of the competitor’s key employees, we might be able to literally “kill the competition” by putting them out of business.  We could then purchase the competitor’s facility and assets for pennies on the dollar and assimilate their customer base into ours. It would be a tremendous win for us.

Healthy Business Competition Means Growth

When he asked me what I thought of his idea, I told him that I thought it was the wrong way to go.  My attitude has always been that I want to beat the competition – but I want to do it fair and square.  If I can win by producing a better product, more cost effectively, and in less time, I am all for that.  But it never made sense to me to kick the competition when they are down – and I told the president that was what he was about to do.

When he asked what I would do with this “opportunity,” I told him that I would schedule a meeting with the competitor and put my cards on the table.  I would explain to them that I was aware of the challenges they were facing, but that I had no vested interest in seeing them go out of business.  I would then begin to explore synergies between our businesses that might lead to a sharing of technology and resources – and that might create a win-win for everyone involved.

Business Competition Is A Good Thing

Many organizations look at business competition as being an inherently bad thing.  I think it is tremendously positive for the following reasons:

  • Being in a market that has competition is usually an indicator that there are plenty of opportunities and customers.
  • Getting involved in an established market with competition is almost always better and more cost effective than trying to create a new market.
  • Business Competition keeps you on your toes.  It’s the juice that powers innovation, ongoing improvement, cost reduction, and improved speed to market.

Take the time to re-evaluate your business competition – and to be thankful for the markets in which you have the opportunity to effectively compete and win business.

 

©2014 by Gary L. Smith and Optimum Performance Technologies, LLC (optechs.com).  All rights reserved.

3 Steps To Greater Customer Loyalty

The Latin phrase Semper Fi – short for Semper Fidelis – is well known to United States Marines and their families.  Semper Fi means “always faithful” or “always loyal”.  It has served as the Marine Corps motto since 1883.  On the Marine Corps emblem, an eagle holds a ribbon in its mouth inscribed with the words Semper Fidelis.  The words “always faithful” suggest that there is never a time when a Marine will not be faithful to his duty to country.

How Is Your Customer Loyalty?

When it comes to your customers, are you “always faithful”?  Do you, and your organization, strive to treat them as the important part of your business that they really are?  If you believe that you are, then pause for a moment and ask yourself, “What does the practical expression of that look like in the daily operations of my business?”  If not, here are three simple suggestions that you can begin using, right now, to create customer loyalty by taking customer service to the next level.

  1. If you want loyal customers, be a loyal supplier. Customer loyalty requires producing quality products and services, at reasonable prices, and delivering them on time, are the foundation that establishes you as someone who can be relied upon and who will never leave your patrons “high and dry”.
  2. Under-promise and over-deliver.  Always meet your promises and, even if it’s a small thing, give more than the customer asks for.  In practice, this doesn’t need to be complicated.  As an example, if you run a copy business and have a large order of materials that you are delivering, how about putting a small thank you note in with the delivery, one that expresses your gratitude for that company’s business?
  3. Become a source of referrals to your customers.  If the customers you serve are top notch – really good at what they do – tell others about them – and let your customer know that you talk about them wherever your go.  Doing so builds customer loyalty and, as their businesses grow, so will yours.

Why You Need Customer Loyalty

When thinking about customer loyalty, remember what Sam Walton said: The customer can fire everyone in your business, from the CEO on down, by simply not buying from you.  Always give your customers lots of reasons to continue doing business with you. Customer loyalty comes down to you, the business owner. Try these three tips today!

©2014 by Gary L. Smith and Optimum Performance Technologies, LLC (optechs.com).  All rights reserved.