Showing posts with label competitive edge. Show all posts
Showing posts with label competitive edge. Show all posts

Tuesday, April 30, 2013

Best Practices AND Next Practices

On occasion, people complain about how best practices are a waste of time.  That the far better thing is to focus on "next practices".  Whenever I hear that, I get all tingle-y.  Which is a sarcastic way of saying I think they are soooo wrong.

Not that best practices are the sole solution.  My experience (and the practice of world-class businesses everywhere) is that BOTH are critically important to earn and maintain your competitive edge.

Here's the real deal: Picking up best practices (current actions that industry leaders are performing on a regular basis to exceed expectations and get the best results) is an incredibly valuable thing to do...for the short term.  Professionals and their companies get in trouble when they latch on to a cool, new gem of an idea and then implement it so obsessively that they can't consider any NEW new idea.  This thinking only locks them into a temporary result - that will certainly slip away as the rest of the competition improves their performance over time.  In this (misused) approach, best practices are the first great steps towards a slow spiral down Darwin's business evolution.

Bummer.  Cue the sad trombone sound.

The better (and yes, proven) approach is to take advantage of any quick wins by adapting best practices - with the commitment to push for daily discoveries that will also develop next practices - that will guarantee your competitive edge.  Constantly striving for ways to create a better customer experience - think all five senses at every step of their experience - for both your external customer AND your internal customer (employee/team).  Then and only then will you take advantage of both aspects of the practices that create your results...and reputation...and legacy.

Think about it.  But more importantly, do something about it...today!

Wednesday, August 29, 2012

Some Complaints Show You're On Course

Complaints are a common occurrence in business - and in Life.  Too often, however, we make the mistake of compromising our actions because of the opinions of others.  Someone gets upset and starts whining about what you are doing (or not doing)...at what point do you "cave in" and go along with their request?

There are two considerations when making this decision:  1. Does the "complainer" have your best interest at heart? and 2. You, and only you, are in control of your decisions/actions.

First, there is a group of people that you "serve" - whether customers, employees, or friends/acquaintances.  When dealing with this group, ask yourself whether or not their agenda is for YOUR (or your company's) mutual well-being.  If not, disregard them - and anything else that doesn't directly serve you or your mission.  The reason they are complaining is for THEIR benefit, not yours.  If they care more about themselves than your sustainable good health, then they are a "cancer" (an organism that sucks life out of you and causes damage as a result), so remove them - or, at least, marginalize their contact with you.  You will have a far better future without them.

In the same way, you'll hear your competition howl about how they don't like something you are doing.  Unless the complaint is about something genuinely unethical or illegal, the hidden reason for their complaint is that your action is hurting their business.  Good!  (Remember: They are motivated by you losing!)  Upset "enemies" are not a problem - leading your organization by what pacifies your competition is a BIG problem!  If you are upsetting your competition it is an indicator that you are doing something that is improving your business and/or industry - and distancing yourself from their attempts to take market share from you!

Secondly, don't make the mistake of thinking others control your decisions.  Yes, they may have influence, but only YOU dictate the rules of engagement!  If you find yourself consistently doing things that are unhealthy to you, then YOU are the one responsible for making the unhealthy decision.  Catering to the whims of others and allowing those who don't care enough about you to have your best interest at heart is a sure-fire path to pain, suffering, and regret. 

So view complaints differently.  They are simply information and not always bad.  In fact, they may actually show you that you are doing something right!

Think about it.  But more importantly, do something about it...today!

Thursday, August 23, 2012

It's Showtime...At The Oil Change Garage?!

Have you ever gone someplace and had an experience that was so unexpectedly enjoyable, you couldn't wait to tell people about it?

That's exactly the kind of response you want consistently from your customers.

What is required to create this kind of experience?  Exceed expectations with pleasant surprises.

I just had such an experience at, of all places, an oil change garage

So, what is the typical expectation when getting your oil changed at a garage?  That oily/dirty garage workers drain the old oil and fill new oil into your car correctly for a fair price. That they are competent and efficient.  Pretty simple, right?

I just bought a used car and wanted to get the fluids changed.  I decided to go to the same place noted by the previous oil change sticker in the window.  I had never been to a Valvoline Express Care station, but thought they might be able to provide some additional insight about the maintenance history of my car.

When I arrived, I had the typical expectations.  However, they were radically exceeded from the moment I drove into the parking lot.  Here's what my experience was like: 

An attendant walked out to warmly greet me as I began to park in a parking space - urging me to pull directly into the repair bay.  He and the rest of the team were dressed in a clean/professional uniform.  He guided me into the bay and they began a non-stop banter and flow of information.  It was more like Seattle's Pike Street Fish Market (Google it) than any auto garage I've ever seen.  Shouts of "Showtime, Bay Three!", "Electric a go!", "Thank you, sir!" reverberated across the garage as four separate specialists rushed around conducting a full diagnostic of lights/signals and other fluids prior to changing my oil.  They brought up my car in their computer system (next to my car), shared the extensive service history, and provided insights about the options for service now and in the future.  They provided a full-service oil change with all the bells and whistles (including payment and receipt) without me having to get out of my car

In less than 9 minutes.

Yes, I was impressed.  But even though it cost a few dollars more, it was way more than worth it.

And plenty of other people know about them now.  I'm now an unpaid promoter for Valvoline Express Care.  All because they spent the effort on things that didn't cost any extra to provide buzz-worthy service.

So, what low/no cost things can you do to create a "Showtime" experience for your customers...and get them buzzing?

Think about it.  But more importantly, do something about it...today!

Thursday, July 5, 2012

Tourist or Traveler?

During a recent international project, I spent an entire day (each way) at several airports.  During the process, I noticed there is a definite difference between the people flying around the world.

In all cases, people are going from where they are/were to where they want to be. Transportation, in it's basest sense, is simply a means to an end. A way to progress - to achieve movement toward something we want.  In this way, the person is more of a passive "tourist" - just along for the ride.

It's not just the difference between business travel and pleasure travel.  It extends to HOW a person experiences the journey...and Life.

There is a significant difference in the WAY people move from place to place.  Whether for business or pleasure, some people actually seem to be engaged in the process of traveling - gaining additional value from the experience of "getting" to the destination.  I consider these people to be more of a "traveler".

My personal guideline when traveling is to be "unplugged" - free from the tyranny of the Internet and computer files.  One of the reasons I enjoy traveling so much is that I'm able to connect to the smallest (valuable) details of the process, and purposefully experience those Life-enhancing moments that create a life that is truly lived (rather than merely existing.)

In some cases, I interact with people.  In others I just observe and ponder.  I've found that Life's biggest/best insights are a result of simply taking the time to ponder.  When was the last time YOU planned some "pondering time" into your schedule...and actually DID it?

Are you just a tourist going through your life?  Or are you an engaged traveler?

Think about it.  But more importantly, do something about it...today!

Friday, April 6, 2012

Fatal Benchmarking Mistakes

Much has been said of benchmarking – the act of looking to best-in-class companies and measuring yourself against their methods. Of course, the expectation is to gauge how you compare with industry leaders, identify where you can improve, and adjust your methods to achieve those same best-in-class results. Most fail because they are going about benchmarking in the wrong way.

The second most common mistake is to simply adopt what the benchmark is doing. This often fails because your culture and/or circumstances are different than the benchmark organization. The better approach is to adapt their methods so they make sense in your unique situation. Consider how you can improve the best practice by tailoring it to your business.

But the biggest mistake, by far, is that people tend to focus only on the benchmark’s tactics. Attempting to copy present-day actions will certainly help – but only in the short term. The problem with this approach is that legitimate industry-leading organizations are continuously improving. To adopt a best practice and stick with it will only ensure that your competition will eventually pass you by. A fatal mistake.

The key characteristics of world-class companies that make them different and better are not just what they do – but how they think! Why do they consider things the way they do? What are the priorities? What are the non-negotiables? How do they create consistency when circumstances are constantly changing? How do they deal with all the swirling details that we all have to juggle and, with essentially the same resources, achieve better results?

When you benchmark the right way, you gain insights that matter – and that make a long-lasting improvement to the health of your business. The choice is yours: tap into the solutions that will spark your sustainable breakthrough or adopt a short-term approach that will struggle to gain traction and will ultimately fail.

Think about it. But more importantly, do something about it...today!

Sunday, February 5, 2012

WWYCW?

Have you ever noticed how often companies seem to focus on the wrong things? For example, look at any company's policy/procedures and ask yourself the question: Is each one of these bureaucratic hoops to be jumped through for the benefit of the customer...or their company?

We've all seen the little rubber wrist bands with acronyms - standing for a wide variety of thought-provoking causes. Here's an acronym that reflects a cause that all successful business people are passionate about:

WWYCW?

It actually has two distinct meanings. The first meaning is What Would Your Customer Want? This is critical guidance when faced with solving a problem or making any decision during your work day. If your customer is always the center target of your focus, and you take into consideration how your decision/action will affect them, then you are already well beyond what "ordinary" businesses do. You become different and better!

The second meaning is the next most important meaning - What Would Your Competition Want? Make no mistake - your competition wants you to be average, predictable, slower, less attentive, less engaging, less efficient, more greedy, more selfish, and less thoughtful about your business. The reason is so you will make it easier for them to win in your industry. The reason it's important to know what your competition wants is so you can do the opposite! They want you to zig? Then you should zag!

Just a quick reminder about two things to consistently consider to achieve consistent success. (Feel free to make some bands if you'd like!)

Think about it. But more importantly, do something about it...today!

Tuesday, December 20, 2011

Bringing Learning To Life

Sometimes I get really frustrated at how people settle for less than they should. Have you ever asked yourself why more people/organizations aren't achieving their potential?

So, how do the most successful leaders bridge the gap between knowing and doing - and get better results that the average people? There are several keys to this elusive process:

Value it. Identify WHY you want to do it. Consider your motivation for starting - regarding the ultimate outcome or benefit. Many times, people surprise themselves by realizing they really do NOT care enough about the outcome to initiate action. If you are sufficiently motivated, then this provides the fuel for your efforts - but you still need the rest of the formula. Your plan must include accountability throughout the remainder of this 4 step process.

Know it. Here's a surprising factoid: People generally don't fail because they are ignorant. In my experience, about 85% of the time, I hear people say "I know that", but then they fail to DO that effective behavior. Those who get results make sure to know What AND How. Often, people think they know, but there is a gap between what they know (vague, big picture) and what they need to know (relevant details). This extra effort separates the ordinary from the extraordinary.

Do it. Skills require more than knowledge. The next step is to translate internal knowledge to external behaviors. Experiment. Practice. Try new things. The key is START! Getting "hands on" with the idea as soon as possible is vital. Habits/success are created by consistent behaviors. Make sure you are practicing your new skills every day. The cumulative total of your actions is what ultimately gets the results.

Share it. Once you've actually achieved some level of success, the best way to solidify the experience (for yourself and for your organization) is to teach it to others. Provide opportunities for colleagues to attempt the new behaviors in the same kind of process you used. You'll find that "teaching others to fish" will help you to multiply your results AND leave a legacy of excellence - optimizing YOUR life!

Think about it. But more importantly, do something about it...today!

Sunday, September 25, 2011

Special Forces Biz Secrets

We've all heard about the Special Forces teams that confront the most important missions our country faces for the ultimate safety and security of our citizens. General William H. McRaven recently outlined the six keys to success of those critical teams when the highest stakes are on the line. They are just as relevant for YOUR business operation.

Simplicity - Complicated rules and regulations only create confusion. Complicated doesn't get implemented consistently and isn't sustainable. Do the difficult work up front to distill your goals, roles, and responsibilities down to their essence.

Security - Teams that are insecure focus on "not losing". They become risk averse. When employees feel safe and secure they open up and begin to develop and grow - becoming more cohesive and stretching their innovation efforts.

Repetition - There's a common saying "practice makes perfect" - this is a lie. The truth is that "practice makes permanent". Not only must you make time to practice (so your efforts become automatic) but you should practice in as realistic a way as possible. Sloppy practice creates sloppy habits - and ultimately, sloppy results.

Surprise - Telegraphing your intent to the competition only allows them to prepare for you - making your efforts more difficult and your results less effective. Consistently aim to change the game. Break new ground and amaze your industry (and your customers) in the process.

Speed - Being first to market is a huge competitive edge. Making the first (well-timed) move allows you to set the terms for engagement. You're then competing on your terms.

Purpose - Having a reason why creates a reason to try (harder, smarter, etc.) A compelling Vision based on worthwhile Values makes the difference between a team going through the motions or passionately driving for world-class excellence. Everyone wants to dedicate their lives for a purpose.

Discuss how your team measures up regarding these issues and consider how you can improve for better results. Create your own elite "Special Forces" team and make a real difference!

Think about it. But more importantly, do something about it...today!

Sunday, July 10, 2011

Digging Deeper. Going Farther.

There's a whole lotta talk going on these days. Talk about being different and better. Talk about engaging employees and customers. Talk about leadership excellence and operational effectiveness and strategy and tactics.

But very little results. Why is that? What do proven winners do differently to achieve those outcomes?

Well, the operative word is: DO!

When it comes down to separating the ordinary from the extraordinary, the key is consistent execution. Those who succeed eventually stop talking and start doing.

How do they do that, when it's not always clear about what to do?

In order to get to the root issues (and, therefore, the root actions required), world-class leaders don't just talk superficially about what makes their business different and better. They dig deep and get into the details of their unique target market and confront the difficult work of knowing their customers, their industry, and themselves.

[Pop quiz: What is the one thing that you do better than anyone else? What - specifically - makes you different than the many other options your customers have? And why should your customers really care? Hint: Your competition probably know this. You had better make sure your customers do too!]

Then, using that valuable information, world-class successes build the discipline (not a sexy or comfortable word so most business/self-help books shy away from this) to consistently implement - in alignment with what their customers want most and what they do differently/better than anyone else.

Simple, but not easy. Take the time to dig deeper this week - so you can go farther than you've ever gone before. You, and your customers, deserve that.

Think about it. But more importantly, do something about it...today!

Tuesday, June 21, 2011

80% and GO!

Think about it: The first time you do something is all about learning. You tend to get the biggest insights about what NOT to do.

This can be either disturbing or encouraging.

Most often, when something is important to them, people tend to plan and wait and plan (and plan some more) until they think everything is perfect.

It never is.

Naturally, we get better every time we experience something. So, what's the better solution to getting really good at something that is really important? Jump in and experience it as QUICKLY as possible as OFTEN as possible until you hone & fine tune it to your ultimate goal of excellence. We have to get past the "I'm not 100% sure what I'm doing" phase and to the much more profitable (and enjoyable) "I know what I'm doing" phase - quickly - to gain a competitive edge.

At Disney, we used to call this "80% and Go". It meant that when we were about 80% sure it was the right thing to do, we initiated action - even if we weren't quite sure of the details. The plan was to be hyper-aware of the feedback/learning you get at every step and adjust as best you can in the moment. Some Fortune 500 companies call this "rapid iteration". It simply means "the way to develop mastery is to do it as fast and as often as possible and learn your way to success".

What things are YOU planning/waiting on today?

Think about it. But more importantly, do something about it...today!

Friday, April 15, 2011

Are You More-dinary?

In an effort to be more competitive, some people make the mistake of trying to simply provide more of the product/service they (and their competitors) deliver. Lazy thinking that is a big mistake. Merely providing more is related to manipulating the price. In the end, you make your offerings a commodity - a path that only drags down profits... and, ultimately your business.

This just makes you "more-dinary". Boring AND unhealthy. The cure? Constantly strive to be different and better. That ALWAYS differentiates you from the competition - often allowing you to charge a premium (making you interesting to your customers AND resulting in a healthy bottom line! What a bonus!)

Discover the deeper reason your customers desire your industry's product/service, assess what/how you and your competition is delivering those things, and then focus on what you can do to be different and better in the minds/hearts of your customers. Then execute soon and well. Repeat. Often.

The competition will always try to copy success. Your job is to 1. Stay engaged with your customers - both external and internal (employees), and 2. keep becoming different and better. To stay relevant and thrive in your business - no matter what it is - ANYthing is better than settling for "more-dinary". Instead, choose to be extraordinary!

Think about it. But more importantly, do something about it...today!

Thursday, March 3, 2011

The 3:2:1 Rule

Looking for better results? Most people are. Here's a frustrating fact: Consistently successful organizations don't focus most on the outcome - but they still get better results than the rest. Here's why...and how...

Performance is a result of skilled effort - which is a result of passion and commitment. World-class companies get better results because they track backwards to the internal root cause and focus on improving there instead - guiding the process until they achieve the superior external results they desire.

If you want a 1% increase in performance, then you need a 2% increase in effort (the kind your customer values) - which is sparked by a 3% increase in commitment (by your front line team - who delivers the effort.)

Some call it the "3:2:1 Rule". Yes, some of the investment gets lost in the shuffle (that's human nature for you), but done well it's worth it. Remember, the percentages of internal results don't have to cost a lot of money - just well-placed leadership, engaged relationships, and targeted innovation.

You can use this proven approach to set up your own improvement plan. For example: If you want a 2% increase in your financial results, you begin by investing in improving your team's engagement/commitment level by 6% (interact with them, listen to them, challenge them, develop them, etc.), which will affect a 3% increase of performance on their behalf (the power of pride, integrity and ownership!) - gaining you the 2% bottom-line results (from satisfied/loyal advocates) you hope for.

So, if you're interested in achieving consistent external results (like those proven world-class companies), focus on the internal resources that get you there first. ANY small steps towards engaging your team will become a catalyst for improvement in your outcomes.

The 3:2:1 Rule. As simple as 1, 2, 3!

Think about it. But more importantly, do something about it...today!

Tuesday, February 8, 2011

Are You Free Or Fantastic?

Have you noticed that, these days, your customers are more demanding? The recent economic challenges have caused us all to be more thoughtful and demanding when it comes to spending our hard-earned dollars. How do you compete when, more and more, people expect something for nothing?

As wonderful as the Internet can be, it is also the source of easy access to the lowest price option. In fact, "the low, low price of FREE" is becoming a common goal in the race towards commoditization. Bottom line: When there's nothing special/different/better about your product or service, why should anyone pay more for it than the cheapest source?

The only time it makes good business sense to offer something for free (or even at no profit) is if there is strategic value. Either 1. To entice your customer so they do business with you and you can sell them more items where you make your (ultimate) profit; or 2. to use it as a tool to gain exposure/awareness for future sales.

Otherwise, the "strategy of free" is, ultimately, a default strategy for going out of business.

The only other strategy is to be "fantastic". Designing your product or service so customers experience a "WOW" means you can charge (and they will pay) a premium. (At Disney, we used to call this "pixie dust" - you can do it too!) Not only do you get a buzz of publicity (happy customers tell everybody!), but you earn profit that actually keeps your business in business.

Wouldn't you prefer that scenario?

What does the "strategy of fantastic" require? Simply adding value at every touch point of your customer's experience. Exceed their expectation (by being different/better) every step of the way and they will come back - AND tell all their friends/family to do business with you too!

Think about it. But more importantly, do something about it...today!

Tuesday, January 18, 2011

Guaranteed Breakthrough

Ever notice that sometimes, even in the midst of a long-term improvement effort, you hit a phase where things seem to stall? Sometimes we get so caught up in achieving a specified goal that we miss the real opportunity - AND the meaningful breakthrough. Consider this catalyst to shake things up:

Rather than continuing to fixate on your pre-determined, measurable outcome - take some time revisit why you are making the effort and then (perhaps) shift to different options that will make it better.

The key here is (re?)discovering what your CUSTOMERS think is "different" & "better".

  • Different: What is your competition doing? What are they not doing? Is your brand (personality of your company) distinctive? Is the customer experience unlike anything else in your industry?
  • Better: What does your customer value in regard to your industry's product/service? Speed? Dependability? Quality? Why does your product/service even exist? Improve in that area, and you will gain a competitive edge.

Too often, organizations get so caught up in delivering action items and tactical plans, that they fail to stay engaged with the more relevant perspective.

Bottom line - becoming different & better, as defined by your customers, will always be an improvement (always!), and will draw the attention you need to eventually move your business (and you!) to the top.

Think about it. But more importantly, do something about it...today!

Friday, December 3, 2010

Cutting Through The Fog Of The Unknown

Coming to the end of one year and the beginning of another brings to mind "the future". Most of us do some sort of business forecasting (even if it is informal) to determine how we want to position ourselves to be as successful as possible in the coming year.

Forecasting your future is complicated by the many unknowns - after all, the future hasn't happened yet. However, being brutally honest about your current reality can serve as a good launching point for the near-term future. Here are a few "behind-the-scenes" questions we explored at Disney that you may want to consider:
  • What's really happening in the world? What trends/needs are becoming obvious and likely to be long versus short term?
  • What different/better offerings are missing that your target market values?
  • What are your (potential?) capabilities that could service/take advantage of those trends?
  • Do you have the team and knowledge in place that can service those developing trends/needs?
  • Do you have or can you find the resources to service those developing trends/needs?
  • Are you willing to make the effort to position yourself and execute the actions required?
Connect these dots and you will begin to clear the fog (and thus the fear) of the unknown. Rather than only doing this once a year, consider doing this every 3 months - or even more often, if your work dynamics call for it. The more you attend to the reality of your situation, the easier it is to influence it.

Having the discipline to make time beforehand to strategically explore these issues and then the assertive drive to execute your plan will determine your results. Don't wait until New Years to make the traditional "resolutions". The only way to get a jump on your competition is to start before they do.

Think about it. But more importantly, do something about it...today!

Monday, November 1, 2010

Not Just Hardware

I just returned from serving as a judge for the Singapore Experience Awards - an event that honors the best business practices (and results) of organizations across industries throughout Singapore. While the visit to Singapore was excellent as always, this particular trip provided an interesting new insight.

An executive of a large international technology corporation mentioned that their renowned success throughout the world was not the result of their amazing hardware, but of what he called "heartware" - the passion of his engaged employees. He recognized that without their passion for innovation and executing their plans to the highest standard, their products would simply be more in a market of mediocre "things".

Interesting that, in a land that is so well known for how they embrace technology, they have the strategic wisdom to place a premium on what actually creates that technology.

A rare insight we could all benefit from, I think.

Consider all the competitors in your industry. For the most part, you all have access to the same resources - offices, office supplies, computers, raw materials, time, etc. What typically determines the outcomes of an organization is how they utilize those common resources. The best do so in decidedly UNcommon ways.

When was the last time you focused on upgrading YOUR "heartware" at work? By shifting how you select, train, communicate, and reward your team you can transform what you achieve with your resources. Or, as Walt Disney once said "taking ordinary resources and creating extraordinary results"...to optimize your competitive edge.

Think about it. But more importantly, do something about it...today!