Change Management and Business Risk Taking
01 Dec 2011 | Category: risk-management | Author: admin
Often there are times in business when corporate managers and executives need a little shake up and that means to shed the dead weight that is not up to the performance standards that are required to run the company efficiently. When this happens it is of the utmost important to get rid of those executives or corporate managers who cannot cut the mustard.
If employees, executives or managers who are up to snuff, but perhaps not well liked are the ones that get the ax then this becomes a political event and other top-notch employees who are giving 110% in everything they do will stop taking risks because they are afraid they might be next to go. This causes increased primate politics and favoritism and only makes things worse.
In fact in case studies after Chainsaw Al had done his dirty work in large corporations it was noted that many middle managers all the way up through executives stopped taking risks, because they were afraid if they did the wrong thing they would be fired. Businesses must take some risk in the marketplace because the only constant as we know is change.
When you were involved in a dynamic market there will be changes and the executive management team will need to deal with these changes and take risks and find new ideas to handle the challenges. If change management is not fair and honest with a good measuring stick then you risk the problems of executives and managers afraid to do their job and take the necessary risks to succeed in the marketplace. Please consider all this in 2006.
Meetings at Risk Equals Business at Risk, The Cost Avoidance Issue - It's Time to Dance
01 Dec 2011 | Category: risk-management | Author: admin
You have heard the statements like, "Our business is based on the power of relationships". Statements like these have never been more tested than during this current economic climate. With daily news of efforts to ban travel and meetings, which will further cripple the economy, it is now time that we extend our dance card.
As the third largest industry in the United States, the effort to label conventions and meetings as frivolous spending is irresponsible. This mindset is creating an environment of panic when what we need to do is search ourselves and get the core of why meeting and events are so vitality important in today's economy.
Although we all come from different facets of the hospitality industry -together we more powerful- this attack has evoked an effort to speak in one voice. Following September 11, 2001 our national emotional fear of travel caused organizations to postpone or cancel their meetings. This was a result of an outward attack on our nation. Today we are allowing our own created fear to paralyze us from thinking with a rational mind.
Are we going to allow this to defeat us or stand behind our statements that relationships are the backbone or business. These face to face meetings are the foundation to build this bridge regarding of an economic stimulus.
How can you as a meeting planner do your part to stay vigilant during this season? This has never been more tested than in today's economic climate. Understanding your contract and being pro-active is the mark of a savvy professional.
Here are three things to consider:
Know Your Contractual Obligations
If you have meeting that will be taking place between now and the second quarter of 2010, it is time to review your contracts. What are some of the challenges that you might be facing to meet your contractual obligations?
Do Your Research
As a meeting planner you can really show your value to your organization by being prepared and taking action. Don't wait for someone to tell you that there is a problem. Being a problem solver at this critical time is a great way to recession proof your career. Do your research and create a plan, execute the plan, and finally be sure to relay the results.
Don't wait until after the Fact
Now is the time to reach out to your host hotel and engage in the dance of dialog to find a solution. At the end of the day, the hotel does not want you to cancel the meeting. By understanding the needs of both parties, you can find a solution that provides you a win-win solution to ride the current economic tsunami. If you wait until you have an issue, the hotel may not be as receptive to being flexible.
It is truly about mutual respect and communication. Doing what is the right for the greater good and looking toward the bigger picture of better days ahead. It is only through working together as hotel partners and meeting planners that we can ride this wave and enjoy the smooth sailing that only comes with relationships built on a strong foundation.
Top Ten Selling Mistakes
09 Oct 2011 | Category: risk-management | Author: admin
Have your often thought that although as a sales professional you can place blame on others for slow sales, think you might be the cause?
Now I am not saying that you are poor sales professional. And, if you are engaged in this roller coaster profession and reading this article you must be good and must want to get better.
However we are all so very busy trying to get orders and finding new customers while servicing old ones that in the process and hurried pace we are making mistakes. And, because we are so very busy and because sales managers no longer ride shotgun, we are not cognizant of our errors.
After 18 solid years of sales and five full years in sales training and public speaking, I find myself, my staff and my customers making the same 10 mistakes on a daily or weekly basis. I make them, you make them and the novice and the expert too.
I recently worked with two very distinctive clients, one a multinational publishing firm and the other a sole proprietorship. Both the sales staff of the large corporation and the entrepreneur makes similar sales errors. When identified I then offered corrective measures; both noticed a sales improvement of 54% in four months.
1- No call preparation - Be Prepared
In many years of sales, representatives have a difficult time preparing for a call. If you are a telemarketer this is a difficult task if you speak with myriads of individuals in a specific time frame. Yet certain market demographics and psychographics can assist you in understanding buyer behavior.
However, direct sales professionals face a different environment. They not only should but must know their customer, the marketplace and the customer's competition. Sales professionals must read one to two business periodicals per week. And they should read at least one industry specific journal. Further, with the proliferation of in the Internet, real time news and the annual report online are not only convenient but also vital.
2 - Poor opening statements
We all have many personal & professional issues, such as family, bills and school, yet while life is a roller coaster, illustrating our discontent to clients is a flagrant foul.
Buyers today want to purchase from whom they trust, whom they know and who excites them. When was the last time you purchased from a monotone bore?
When on the telephone, sit up, shoulders back and have good voice inflection. When with a client do the same, show excitement, gain a friend. Gain a friend and sales are easier.
3 - Sending Product Information
You are probably saying, come on Drew, you must have a brochure. Of course I do, yet I will not send a brochure to anyone that wants one.
One of the best tricks among prospective clients to be rid of pests like us doing our job is to say "... please send me a brochure." Rather than waste their time and mine I try to qualify the prospect. I always say to the potential buyer that what can be found in the brochure only summarizes my services. To by truly helpful and better qualify their needs I can answer all their questions during that moment or I reschedule at a more suitable time.
This illustrates that I respect their time and illustrates to me sincerity or buyer blow off.
4 - Not Listening to the client
No buyer appreciates a sales professional that does not listen. Our job is to understand buyer's wants and needs.
Although we are typically anxious and excited to "tell" about our products, it is important to listen. The best solution for this flaw is taken from my seminar and audio sale, "Shut Up & Listen" the Lord gave us one mouth and two ears - use them. Do this by asking questions and many of them. When something is not understood paraphrase so that you understand exactly the client's issues
5 - Anticipate Objections
Have you ever been on a call, just about ready to sign an agreement and the client raises and objection? If you use the listening approach and really understand the client, you will lessen the risk of objections.
I am not saying you will not be surprised from time to time yet if you map out your sales calls and really concentrate on the client you will lessen the occurrences.
6 - Do you know whom you are speaking to?
If you are selling to corporate accountants, there is usually a group of people involved with purchases. Because there are several people involved we sometimes get too connected to our first contact that we forget to ask them about their place in the selection process.
Remember there are internal coaches, recommenders, influencers and finally the decision maker. Ask your contact to help you identify the selection board.
You must also ask who signs the check for your product or service.
7 - Failure to Establish Rapport
It's good to be a professional and to try and keep the conversation on track, yet good sales-professionals; one must establish good client relations.
I am not suggesting the typical "how ya doing" intro and cold conversation. To ensure you get to establish a relationship ask the contact some general questions. Once you have asked several you might find a common ground that begets a general dialogue. From the point of commonality you begin your professional sales relationship. People want to purchase from whom they know, whom they trust and whom they like. Creating good relations creates faster sales, new friends and future revenue.
8 - Poor Questioning
Questioning is just as important a process as planning. How many times have you written down questions that you ask during a sales call? Simply put, you must plan the questions you will ask. These questions must also have a logical order.
Think of you sales call as a funnel and plan your questions this way. Begin with general information gathering and as you continue with the call, become more specific.
By planning your questions, your call will have control, order and a flow. By following this step, you will gather more information and a smoother transition to the close.
9 - Review your calls
A flaw often overlooked by many sales professionals and their managers is a failure to review their calls. Similar to a pilot that uses a checklist before he/she flies or an doctor that uses a checklist to perform a diagnosis for an illness, the sales professional must run through a checklist to understand the calls fine and low points.
Post call reviews help to understand where you made any errors. They assist in either reinforcing your message or revising for a more consistent one next time. And the review provides you with valuable information the client mentioned that you must not forget. Learn what you did right and what you did wrong so that you can learn from your errors and make more sales.
10 - Forgetting to ask for the order
I remember working for the Chief Operating Officer of a Wall Street software firm. The gentleman has a great mind, he is a great visionary, and is very good with Wall Street CEO's. Yet he is the worlds most terrible closer.
We might spend three hours negotiating a deal and since he was the boss I let him lead the sale. Yet every time we left the call, he never asked for the order.
I implore you to remember the COO. Never forget to obtain what you work for. Even when you think it might be too early simply ask, "Do you want to purchase."
Summary
I am certain that you do not commit these errors daily. And I am certain that you do not commit all 10.
My intentions are to illustrate to you my thought for the Top 10. I believe that by making you more cognizant, I can help your confidence so that you have more sales, faster cash and better customers.
2005 Drew Stevens. All rights reserved.
CoSHH in the Beauty Industry
09 Oct 2011 | Category: risk-management | Author: admin
Beauty Salons and in particular, nail bars have become increasingly common over the last decade, thanks in part to the popularity of acrylic nails.
It is vital that safe working procedures are enforced so that risks to employees and customers health are reduced. CoSHH legislation should be enforced and risk assessments should be undertaken on all chemicals.
Some ingredients in beauty and cleaning products such as solvents in nail polish removers can irritate the skin and lead to dermatitis.
Contact with blood and tissue residues from piercing or tattooing can lead to infection.
This article however, seeks to examine the health risks associated with cosmetic procedures to nails.
Some ingredients present in acrylic liquids and powders can cause skin allergies and asthma.
When creating acrylic nails it is possible to catch bacterial, viral and fungal infections.
The dust filings from artificial nails can cause wheezing, chest tightness and asthma and the acrylic fumes can cause headaches, dizziness and nausea.
There are certain procedures which should be followed to reduce any risk to health:
Do not allow eating, drinking or smoking within the salon.
The nail area should be treated respectfully so that infection is less likely.
Make sure that employees and clients wash their hands following a cosmetic procedure.
Ensure that CoSHH safety data sheets are available for each chemical used and follow through with CoSHH task based risk assessments.
Always follow instructions given by the manufacturer with regard to PPE, such as using gloves or masks.
Keep the workplace well ventilated, using ventilated tables if possible.
Ensure that any substances being used are kept in closed, marked containers to reduce the amount of chemicals in the air.
Any equipment which has direct contact with the skin, such as nail files, should only be used once or at the least sterlisied between clients. This will reduce the risk of infection.
Any material which has had acrylic contact should be placed in a sealed bag before disposal. This also applies to any other materials affected by chemicals such as cotton wool etc. This will help to reduce the amount of chemicals in the air.
Client information should be recorded and procedures may not be performed if the following are true:
The client has had previous skin conditions such as dermatitis, eczema or sensitive skin
The client has any allergies
The client has poor skin or the nail is not in good condition
The client has an existing medical condition or is pregnant.
Salon workers should indicate if they have allergies or become sensitised to products.
It is essential that employees are kept informed and well trained in CoSHH legislation and they should form an integral part of the risk assessment process.
Choosing a Fireproof Safe - What to Look For
17 Aug 2011 | Category: risk-management | Author: admin
Fire accidents rank the highest when it comes to the different calamities or accidents due to which property gets damaged all over the world every year. Even though most organizations adhere to safety standards and take measures to mitigate damage that could be caused by a variety of natural calamities, disasters or accidents, fire accidents are very difficult to deal with.
The best way to protect documents and other valuable property from fire damage is to use a fire resistant safe. Fireproof safes are available in a wide range of sizes and heat-bearing capacities. Most safes that are resistant to fire are put through very stringent quality checks and are tested under the harshest conditions possible to determine their capacity. Fire safes are made of composite materials that can withstand extremely high temperatures without melting or burning away. The best fireproof safes manage to keep temperatures inside them lower than 65 degrees centigrade even when external temperatures rise over 200 degrees centigrade. When it comes to choosing fire resistant safes for your organization, there are a few things you should keep in mind to get the safe that best suits your needs.
First of all, determine the nature of the items you will be keeping inside the safe. What you are going to keep inside matters the most - because you can't keep just about anything inside one! For example, if you are going to preserve very old documents, then a fireproof safe would not be the best place to keep them. Though the safe will prevent the document from burning up in the event of a fire, it will not be very effective in helping preserve the aged material of the documents.
Next, you cannot have an all-purpose safe, i.e., a fireproof safe cannot double as a waterproof safe. It is up to you to determine what sort of damage your property is more likely to be affected by more. Finally, ensure that the safe meets all certified quality standards, and that models in its series have been tested thoroughly. Read as many reviews as possible and collect as much information about the safe as possible.
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