Friday, March 28, 2008

How to Be Recession Resistant: Five Strategies

Earlier I posted on the idea that nothing is "recession proof", as much as popular media and many "experts" want to peddle their recession-proofing wares to us.

Reality check....the best we can do is build up our resistance to recession and the other ups and downs of business. This blog is the first in a series of articles with pointers on how to be recession resistant, as an employee, manager, salesperson or business.

Below are five strategies for surviving during tough times and always landing on your feet. I'll cover each in more detail in follow-up posts.

1. Pull Your Head out of the Sand

Stay alert for predictable surprises. Harvard Professor Max Bazerman says that "Predictable surprises happen when leaders had all the data and insight they needed to recognize the potential, even the inevitability, of major problems, but failed to respond with effective preventative action."

2. Live with Healthy Fear

Paralyzing fear is bad. Fear that propels you to take action is healthy!


3. Don't Assume You're Still Valuable

What made you successful in good times may not be what matters in bad times. Question what is really important to your business and your bosses when recession looms...and find ways to fill that need.

4. Keep Your Pipeline Full

If you only network and ask for referrals when times are bad (and you're looking for opportunities)...it's probably too late.

5. Become Your Own PR Person

Whether you know it or not, we're all in the public relations business. Be your own advocate and build your brand year-round.

Tune in for more postings describing how to execute each of these survival strategies.

Copyright 2008. Phyllis Roteman. The Loyalty Group. Sherman Oaks, CA.

Wednesday, March 26, 2008

Drop Price, Drop Credibility! A post-script...

Haha.

Since my last post (about how our postage meter vendor dropped our price when we threatened to cancel)...the saga continues.

Our initial rate was $20.00/month.
My assistant called to cancel and was offered $12.95/month.
She said she'd call them back, and checked with me. I said no thanks.
I posted my blog (rant).

Needless to say, when my assistant called them back to reject the $12.95/month, they offered her $7.95/month!

Do you think if we hold out long enough they'll pay us to keep the meter?

Drop Price, Drop Credibility!


We have a postage meter in our small office. We ordered it from the vendor when we were doing bulk mailings a few years ago. Since then, our snail mail usage has trickled off, so we decided to run the meter down to zero, then send it back. Why pay $20.00 a month for a small convenience that we really don't need?

Today my assistant, Jenn, contacted the company to ask how to send the meter back. She tells me that they offered to lower our monthly fee to $12.95 if we keep the meter. Hmmm...now that I want to cancel, they can drop their monthly rate by $7.00?

Basically, that translates into $7.00 a month too much that I've been paying for almost two years. Rather than jump at the reduced rate, I'm a little ticked off. Granted, $7.00 a month is nothing. It's the principle. I feel like I've been ripped off, paying $20.00 per month for a service that is only worth $12.95.

And they've lost credibility with me. If they can arbitrarily give us the service for $12.95 a month, how do I know someone else isn't getting exactly the same thing for $9.00 a month?!!!

Lesson for all businesses: Don't drop rates without justifying the price reduction. It erodes your credibility, makes you look desperate and devalues what you're selling.

Friday, March 21, 2008

No Such Thing as Recession-Proof


"I've got a risk-proof way to make a million dollars!"


"This plan to invade Iraq is fool-proof!"


"This new firewall is 100% hacker-proof!"


I'm always leary when I hear that anything is "proofed". The phrase implies that there's a 100% guaranteed way to prevent something from happening. I can't think of anything in life, or business especially, that's foolproof or completely without risk.

This morning at the gym I was watching CNN and saw an advertised segment on "Recession Proofing your Job." Jumping on the "Big R" scare, other media outlets and and business consultants have written articles claiming to have the secret to recession-proofing your business, finances or job.

Any business or employee who is fool-hardy enough to think that they're immuned from the impact of recession is tempting fate. It's like saying that driving the speed limit, being cautious, wearing your seatbelt and having airbags makes you accident-proof. It doesn't. What it does do is give you some control over your fate by protecting yourself.

In my next blog post, I'll give tips for how to become more valuable to your employer, so you are recession-resistant. This means that even if your job is downsized, outsourced or cut back during a recession, you'll be able to bounce back quickly.

Recession resistance means doing things that make you valuable - in any job, in any economy.


Copyright 2008. Phyllis Roteman. The Loyalty Group. Sherman Oaks, CA.




Friday, March 07, 2008

I Don't WANNA Be Coached! (What to do when employees don't want coaching.)

You know who they are. They’re the employees who squirm when you mention having a coaching discussion with them. They’re always “busy” when you want to talk about their development or give them some feedback. And when you do get a coaching meeting scheduled, they placate you by nodding their heads compliantly – or sit silently – anything to get the meeting over with.

They're reluctant coachees.

I asked some of my colleagues who are professional executive coaches what they do with someone who doesn't seem to want coaching. Not surprisingly, they all said that they don't coach unwilling participants. You can't coach someone who doesn't want to be helped.

I agree with that. But if you're a manager or in an internal (corporate) coaching role, it may not be that easy. You can't simply "turn down" coaching gigs when coaching is part of your job. So what do you do, as a manager or internal coach, when faced with people who resist your help?

It's not like you don't have any options. You can always avoid them, focusing your attention on those employees who really want your help. Or you can just fire them.

Before writing these people off as just "difficult", however, try to diagnose why they resist your help. Once you understand what's behind the resistance, you'll be better equipped to address it. If nothing else, you may find that you're just dealing with a difficult, stubborn person who refuses help and needs to seek other employment. At least you'll know.

Here are five common reasons that people resist coaching.

1. The Veteran Aura

This works two ways. Seasoned employees may be afraid to let it be known that they need coaching. After all, they've been around. Other employees probably ask them for advice. They view coaching as something that's for newbies, not them.

Managers often fuel this perception by leaving veterans alone. "They don't need my help," they think. Or they wonder, "What value can I add? The veteran's been here longer than me!"

The downside to this cycle is two-fold. One, veterans without coaching may plateau and never reach their full potential. We all get stale and form bad habits over the years. By leaving veterans alone, you're not doing them a favor. In fact, you're depriving them of the opportunity to learn and be challenged - and holding your company back from reaching its growth potential.

The other downside is that veterans who aren't coached may feel ignored, which can lead to poor morale or even turnover. An ignored employee is ripe pickings for a recruiter working for the competition. Most veterans won't say that they feel ignored or isolated, because they don't want to sound needy. But everyone likes to be recognized. Providing good coaching shows that you care and are interested in what the veteran is doing.

2. Been Burned in the Past

When you hire people or inherit a team, everyone brings their old baggage. If people on your team had poor managers in the past (who led through intimidation or used coaching as an excuse to criticize), don't expect them to welcome your coaching with open arms. They've got trust issues - and being coached requires a lot of trust.

It's a lot like personal relationships. Once bitten, twice shy. If you marry and divorce an overbearing spouse who is a control-freak, you're likely to be turned off by future dating prospects with strong personalities. It's a natural human response to being burned.

You can find out if "been burned in the past" is an issue by simply talking to your team members. Ask, "Tell me a little about how your last manager coached you and gave feedback," "What did or didn't you like about how that coaching relationship went?" Or, "I want this coaching relationship to be effective. How do you like to be coached?" This type of dialogue can clear the air about any bad past experiences with coaching, and give you a fresh start by establishing new expectations for your coaching relationship.

3. They Don't Know How to Participate

It may sound odd, but some people just don't know how to receive coaching. These may be the people that sit silently during coaching discussions, nodding their heads occasionally (like bobbleheads) and contributing little. It may be that they don't know what they're supposed to do in a coaching discussion. Or they may think that coaching means that you tell them what to do.

If you expect your team members to participate in their coaching discussions, you should set that expectation. Don't assume that your "picture" of coaching is the same as the employee's picture. You can set clear expectations by:
Letting them know, before the discussion, why you want to talk and the agenda for the coaching conversation.
  • Explaining clearly what you expect of them during the discussion. ("I expect that this will be a two-way dialogue where we can tackle this problem together.")
  • Being clear about how to prepare for the coaching meeting. ("I'd like to to bring your financial analysis and projections for the next three months, and any supporting data you'd like me to see, so we can go through it together.")
  • Asking them what they'd like to get from the coaching discussion

4. Personal Issues (Out of your control.)

Sometimes, people just don't want to be helped and you can't do anything about it. This should be your last conclusion, after you've explored tested other theories and tried various approaches. And as my executive coaching friends point out, you can't coach someone who just doesn't want it.

5. Look in the Mirror (It may be you!)

It isn't easy to think about, but sometimes the problem is us (I include myself in this, even though I think I'm a pretty good coach). Coaching isn't easy. It takes a consultative mindset, patience, emotional intelligence - and a whole lot of skill and practice. You may need a coaching tune-up or some pointers, like the ones offered in TLG's thinktwice Coaching Cards. Remember, you're a role model for the people you coach. When you start with yourself - and show that you're able to work on your coaching skills - you're sending the message that "everyone needs coaching...even the coach!"

Copyright 2008. Phyllis Roteman. The Loyalty Group. Sherman Oaks, CA.