Is Your Franchise Flying Blind?

EOS Issues

How to Recognize and Address Your Core Business Issues.

Over the past several months we have highlighted the various components within the Entrepreneurial Operating System (EOS).

  1. Vision
  2. People
  3. Issues
  4. Data
  5. Process
  6. Traction

While each of the 6 components of the EOS Model is a separate entity, they inherently interact with each other in some capacity.  Each individual component needs to be solidly identified if the EOS is going to help the company’s health and growth.

For example, while most companies think that the Issues they are having are unique, in actuality there are only about 25 different Issues that companies have faced since the beginning of time.

Issues: IDS

Let’s examine one company in the news lately that lost close to $1 billion in the market because they failed to handle an Issue properly.  The company in question is, of course, United Airlines.  My purpose is not to get into a debate of the legalities (or illegalities) of what happened, but to merely show you how important it is to go through your own IDS (Identify – Discuss – Solve) for any Issues you might have. Let’s start with what happened within United’s chain of command that broke down so horrifically into a continuing PR nightmare.

From United’s website:  “We are committed to providing a level of service to our customers that makes us a leader in the airline industry. We understand that to do this we need to have a product we are proud of and employees who like coming to work every day.

Our goal is to make every flight a positive experience for our customers. Our United Customer Commitment explains our specific service commitments so that we can continue a high level of performance and improve wherever possible. The commitment explains our policies in a clear, consistent and understandable fashion. We have detailed training programs and system enhancements to support our employees in meeting these commitments, and we measure how well we meet them.”

 

Very interesting…so what happened, what’s the Issue?  From what I’ve read in the various media posts, someone realized that they needed to get 4 crew members to Louisville for the next day.  They had a Process for this, eventually randomly selecting passengers to “volunteer” their seats. It’s still inconclusive as to if that Process called for having police “enforce” that policy.

Part of the process of identifying the key Issue here is to ask a few questions:

  1. Why a PR nightmare?
  2. What happened & What could have been done better to resole this Issue?
  3. Solution:  Analytical tools, Process modification, People

From our February e-newsletter on issues, “Only when the real root Issue is identified should you and your team begin the discussion phase.” What is the real Issue that United is facing?  I’ll suggest a few, but this list is by no means conclusive.

  1. Too much concern for the bottom line that Wall Street requires (Data component)
  2. Too little concern for their paying customers (a direct conflict with their Vision)
  3. Faulty Process
  4. Process driving People, rather than People driving Process

Hopefully, Oscar Munoz, the CEO of United is going to give more than lip service when he states his apology for ‘re-accommodating’ passengers. What happens over the next few weeks will be telling as to how seriously United takes this Issue.

What types of Issues are you facing within your company?  If you would like to have  an Issue Review Session with coach Thom Torode, click here to schedule.

Thom Torode is a NJ based Professional Executive & Business Coach and EOS Implementer. Having owned and operated over 5 different businesses he is currently the Managing Director for Sunrise Business Advisors.   Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

 

Going Lean

July Business Tip: Going Lean

A lean program actively manages operational efficiency, which causes a chain reaction of business benefits. Efficiency promotes safety, saves time, controls costs, and ensures quality. Quality translates into high customer satisfaction. Customer satisfaction is directly connected to revenues. Safety is implicit in turnover cost management. And, of course, revenues and cost control are the components of profit margin. So, the operational and financial benefits of implementing lean practices throughout all business units are pervasive, including in administrative offices, sales, forecasting, and others in which lean policies are too often not recognized as applicable. A lean policy extends far beyond dictating periodic clean-outs. It’s a way of doing business—every day. There are multiple excellent models for lean operations. ISO provides guidelines. Universities teach “5S” structures in business courses (sort, systematize, shine, standardize, and sustain). The various versions of lean programs have key principles in common.

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Success by Going Lean

A) Organization

Whether it’s called systematizing or just straightening up, getting organized cannot be overestimated. It really is the first fundamental for a quality operation. Some talented business managers imagine themselves as intellectually exempt from need to operate in an organized environment. Such attitudes fail to inspire confidence of customers, guests, inspectors, supervisors, and subordinates in the professionalism of the organization and have a generally corrosive effect on a positive business atmosphere. Further, until one has functioned in a well-ordered system, he/she cannot meaningfully predict how much improved his/her personal performance would be over time.

B) Controls

Remove obstacles that inhibit the smoothest flow of movement as employees conduct processes, whether in manufacturing production or office processes. Rearrange machinery and furniture that cause unnecessary steps. Archive unused paper files. Eliminate or reorganize electronic files that cause employees to search drives excessively. Implement inventory control methods so that new stock is purchased only when the supply level of a particular item drops to a specified level. Revise workflow processes to cut unnecessary peripheral distractions or tasks. Arrange schedules so that work of like-types or along the same routes is performed by the same employee, where practical. Reducing minutes and seconds wasted by all employees daily adds up to a staggering amount of time savings that can be used to increase productivity.

C) Maintenance

Establish self-monitoring systems. Hold all employees accountable for maintaining their piece of the lean program. Support this policy with routine assessments by management. Inspections may seem extreme to employees who are unfamiliar with lean systems. However, when a lean program is structured under a simple ABC structure, as above, most employees can be successfully helped to understand the necessity of managing operational efficiency and will grow to appreciate the significance of the professional benefits of working in a lean environment.

Think about how these processes can make an impact on your organization going lean.  When you ready to learn how to implement these strategies in your business contact us for your Business Assessment Review.

Thom Torode is a NJ based Executive & Business Coach.

He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have getting them unstuck and back in growth mode. Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

What Does Business Networking Mean?

Do you need help figuring out the Business Networking Puzzle?iStock_000025312112Small

 

When running or marketing your business, you will often hear how critical the aspect of networking is to the process of growing your business and achieving your goals.  Through reaching out to a network of personal and business connections, you can leverage these contacts to provide a steady supply of business.  Business networking is one of the most effective low-cost marketing methods available to you.  Often times, networking is absolutely free – the only thing it costs you is a small amount of time.  When there is a cost involved in networking, this cost is generally for attending conventions and other industry events.

The individuals you connect with on a regular basis are often the people who understand your business the best, and who have their own network of prospects they can turn into referrals for your business.  Through networking properly, you can drastically increase your business through word of mouth marketing alone.

Consumers trust recommendations from individuals in their network, and are more likely to become a customer if referred to by someone they know or work with.  For example, a recent study by Nielson shows that 92% of consumers worldwide trust recommendations from friends and family more than any other form of advertising.

When beginning the process of networking, it is easy to become frustrated and overwhelmed.  It’s important to approach networking for business growth in a strategic and focused manner.  Reach out to individuals who you think you can develop a mutually beneficial relationship with.  Remember to be proactive; you should always keep networking top of mind when you are meeting new people. When forming new relationships, consider how you may be able to leverage the relationship or partnership, and also what you can do for them.  The key to networking is reciprocation, you have to give as much as you get – but with a strong network, this will be easy to accomplish.

There are many groups available for the business owner.  These networking groups are full of individuals, like yourself, seeking to reach out and meet other professionals.  Because there is an expectation of networking in these groups, it is often the easiest place to begin.iStock_000012461219Small

In the end remember the old adage, “It’s not what you know, it’s who you know”. Learning and mastering the skills to build strong relationships will create a competitive advantage that any savvy business professional can utilize to create endless business opportunities.

If you’d like to learn more about Networking and how it can help your business, lets talk.  I can help you learn about groups in your area and help you to evaluate why one group may be a better fit over another.BNI

Thom Torode is a NJ based Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors.  Additionally Thom is a Director Consultant in the middle NJ region of BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Inspiring Greatness…Developing Success!

How Sharp Are Your Leadership Skills?

The effectiveness of leadership skills in any team or organization plays a critical role in the levels of success and harmony that can be achieved.

Leadership Skills Compass

Leadership Compass

Take this Self-Assessment to determine whether your leadership skills have been sharpened to a keen edge.

1. I’ve become more comfortable delegating tasks and managing the performance of others than doing things myself.

2. Before committing to a decision, I ask myself if it will serve my purpose. I say “No” to requests for my time and attention that are not aligned with my purpose.

3. Coworkers and those who report directly to me trust me and my effectiveness as a leader.

4. I successfully enroll others in my vision and influence their behavior at work.

5. It’s less what I say and more what I do that affects how others perceive my leadership ability, so I make sure to “walk my talk.”

6. It can be daunting to confront the issues, obstacles and people that block success. But in doing so, I model courage, persistence and a can-do attitude.

7. I hold myself accountable for my actions and the actions of my team/department. I don’t make excuses.

8. I will not be able to please everyone; leadership is not a popularity contest.

9. I view problems as opportunities to excel. In fact, I focus on the opportunities in every problem. A positive attitude can make a project or objective

10. I seek opportunities for education and skills enhancement, as I want to continuously grow my abilities.

11. Everything in my organization/department/team, both good and bad, is a reflection of my leadership. If things need to change, I need to change first.

12. I don’t avoid difficult conversations with those who are not performing to my standards.

13. I plan meetings to keep them short and effective.

Leadership Dart board

Sharp Leadership

14. I treat others how I want to be treated, with respect and dignity; this includes praising in public but expressing displeasure in private.

15. I am open to new suggestions and receptive to bad news.

16. I don’t hog credit and kudos but attribute them freely to my team.

17. I regularly communicate mission and vision face-to-face to my team.

Are you being seen as a Leader

Are you being seen as a Leader

If you answered true to 10 or more statements, keep up the good work! You have developed strong leadership skills.  If fewer, you may wish to hone your leadership skills with a coach.

Contact Sunrise Business Advisors for your complimentary Leadership Excellence Assessment Preview (LEAP). Thom Torode is a Morris County based Executive & Business Coach. He has owned over 5 different businesses and is also a licensed facilitator and co-principal for Elevate Your Leaders in NJ. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Sunrise Business Advisors can be reached at 862-219-6890 or info@SBAnow.com

Author’s content used under license, ©  Claire Communications

6.5 Mindset Shifts for Business Success

Mindset Shifts for Business Success

Thom Torode, MBA, CBC, CEC

Mindset concept in tag cloud

Mindset and Attitude = Success

 

When I started down my career path to helping business owners, one of my mentors gave me the book: The Little Engine That Could “I think I can, I think I can, I think I can, I think I can!”  Interesting choice as I look back, I had owned 5 different businesses was a senior manager for a fortune 500 company and had helped hundreds of people with their sales and careers by that time. In reality, he expressed later was the reminder of who I was and how I could make an impact on the mindset of others lives.  It was also a reminder to teach others what even children’s characters will attest, a winning mindset is a trait to adopt. It attracts happiness, health, fulfillment and success. But what is a mindset, really?

What is Mindset?

Consider these questions:

  • When faced with a new challenge do you react confidently?  Do you believe that with effort, practice, & time you can succeed? Or do you question your abilities, motivation and talent?
  • Do you view failure as part of the journey? Or do you avoid new challenges in order to protect yourself from potential embarrassment?
  • When you are faced with setbacks and criticism, do you rethink your strategy and persevere? Or do you give up and just cut your losses?

Your answers to these questions give insight into what type of mindset you may have.

A mindset is your established set of attitudes that are based on their assumptions. These assumptions predetermine a person’s reactions to and interpretations of any event, environment or situation.

Whether positive or negative, a person’s mindset is engrained, habitual and affects all aspects of his or her professional and personal life.

Is Your Mindset Working to Your Advantage or Holding You Back?

In her book Mindset Stanford University psychologist Carol Dweck identifies two general mindsets: fixed and growth.

Fixed Mindset
•   Talent and intelligence is static
•   It’s better to avoid challenges
•   It’s okay (even preferable) to quit before failure
•   Effort is pointless
•   Ignores useful criticism and feedback
•   Views success of others as a threat

Growth Mindset
•   Talent and intelligence can be developed
•   Embraces challenges to grow
•   Failure is an opportunity for learning
•   Effort leads to mastery and success
•   Uses criticism and feedback to improve
•   Finds inspiration and learning from the success of others

It’s easy to tell someone to develop a growth mindset, but, if mindset is so deeply engrained, how does a person change it? Here are six ways to begin:

Six Simple Mindset Shifts to Improve Success

  1. Embrace failure instead of avoiding it. The faster the failure, the quicker the learning. Before starting his auto manufacturing company, Henry Ford failed at his first several businesses. What would the industrial landscape look like had he given up after his first try? Remember, embracing failure also means success can arrive that much sooner.
  2. Think abundance instead of scarcity. When it comes to spending money on self-improvement, many people resist due to cost. But clients and customers are attracted to people who believe in and value themselves. Instead of thinking of personal growth as an expense, think of it as an investment in your future.
  3. Embrace challenges. People who have a mindset of “growth” realize that challenges are just opportunities in disguise, and they choose to actively seek them out.
  4. Use setbacks as learning opportunities. No matter how thorough the plan, no matter how well-executed the details, obstacles will surface. Besides, who can predict with any real accuracy what setbacks will occur? Instead of wasting energy trying to prevent the unknown, why not just face obstacles as they show up?
  5. Don’t take it personally. Sometimes the best opportunities for personal and professional growth come from leveraging harsh criticism and negative feedback. How well do you listen to your customers’ and clients’ complaints?
  6. Stop re-inventing the wheel. Instead of resenting successful people for what they have accomplished, look to them to learn how they did it and turn that to your advantage.                                                                                                                           6.5 Have an accountability person to keep you in check.

Incorporating these simple mindset shifts will go a long way to help you towards business success by building your self-confidence.  Its amazing how a growth mindset “I think I can”, changed to “I know I can” coupled with strategic action can help you increase your productivity and fulfillment.  Let us know how these mindset strategies work for you.

Are you a highly motivated leader but struggle navigating the corporate environment? Do you wish you could lead with authenticity and more confidence? Would you like to break through to the next level? Go to www.actuateperformance.com or www.ElevateYourLeaders.com for free articles, information on private coaching, sign up for a 30-minute complimentary session.

 

Author’s content used under license, © Claire Communications