Tweak Your Biz » Denise Fay

Four Olympic Takeaways For Business Owners

Denise Fay — Mon, 27 Aug 2012 07:41:38 +0000

The Olympics have come and gone. I loved it; perhaps because it was on my timezone but it is a fascinating experience to watch. All the athletes who come out to compete after four or more years of hard training and sacrifice. I was enthralled and I know I wasn't the only one.

I got to thinking about the Olympics and how many parallels there are between the sporting world and the business world. These are my four takeaways from watching the Olympics.

# 1. Be prepared to put in the effort

Every article you read about the Olympics will always feature the importance of focus. There's a reason for that – because it's truism. Athletes on top of their field have made many sacrifices to focus on what they want to achieve. Long hours in the pool, training for hours twice a day, watching what they eat, what they drink, what they sleep and for long.

It's a long road that requires focus, determination and hard work. Raw talent just won't cut it. You need to put in the time and resource required to achieve your goals.

Many business owners focus on their end goal and they do sacrifice their personal time to grow their business. But how many put the same effort into their business as athletes do into their sport?

Ask yourself honestly do you persevere and persevere when times are good and when times are tough? Is daily self development on your to do list?

A business owner once said to me that he's prepared to get great at marketing. Every day except for Wednesday; he was going to spend time marketing his business. I was curious and asked why not Wednesday? He said that he plays poker with a group of friends and he's not going to change that. I've often thought about him – whether he was right or not. Personal time is important. But when I see Usain Bolt or Michael Phelps or indeed Ireland's own Katie Taylor, I think would they stop training on a Wednesday to play a game of poker with friends? I think not.

Running a successful business (whatever your definition of it is) requires a determination that others are not prepared to do. That could be your tenth of a second win over your competitors.

# 2. Gold is just a colour

I admire all the gold medalists and you'll often read in business articles or news papers that nobody remembers who gets silver. A tenth of a second can separate gold and silver or bronze and fourth.

It's all true of course but for some athletes reaching the Olympics was gold. Running or getting a personal best was their gold. Beating their own record was akin to a gold medal.

As Shakespeare once wrote “What's in a name? That which we call a rose by any other name would smell as sweet." So yes, gold is great. But it's just a colour. Sometimes you want a gold medal; other times you just want your gold.

Be proud of your own achievements. And don't let anyone else dictate what your gold is or should be. Only you decide what your gold is.

# 3. Support is essential

No man (or woman) is an island that was so clear in the Olympics. Hailing from Ireland, it's hard not to include the Irish boxing team in any discussion about the Olympics. At every interview of every boxer, the head performance coach was there by their side. Behind them was the coach and the team.

No business can survive on their own and I just recently heard Simon Woodroffe of Yo! Sushi saying that he wished he was brave enough to hire good people early on. If you think you can do it all by yourself, you're wrong. A support team – whether it's an actual team, a virtual team or a network of fellow business owners - is crucial for survival and growth.

Get yourself a team and surround yourself with like-minded individuals.

# 4. Celebrate your achievements

At the end of a huge achievement, it's important to own it. And a great way to own it is to celebrate it. The closing ceremony of the Olympics highlighted just how important a celebration is. While you may not have the Spice Girls re-uniting for your celebrations, the act of celebration is enough.

Looking at the athletes all together – those with medals around their neck and those that didn't, it just shows that each of them had fun at that party. Each is an Olympian – an accolade in itself.

No matter the size of your achievement, it's important to celebrate it, cherish it and own it.

We have to wait another four years for the Olympics and some athletes after a brief spell of relaxation will start preparing for Rio in 2016. They will return to that sheer determination and focus that they had training for London.

As we look around to fill the void of the Olympics, perhaps we should look to our sporting brethren for inspiration. For the final lap of the year, maybe we should train, focus and use our time to sprint to the final and amaze ourselves at just how much we can achieve once we put our minds to it.

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The post Four Olympic Takeaways For Business Owners appeared first on Tweak Your Biz.

Email Fails And Why It's So Important To Get Email Communication Right

Denise Fay — Wed, 27 Jun 2012 16:10:46 +0000

Over the past number of weeks, I've been interviewed in the Irish media on email etiquette an the importance of getting email communication right. Research has shown that with human communication, only 7% is the actual words that are spoken or written; 93% of communication is non-verbal. This is one of the main reasons why email, as a mode of communication, can be tricky and needs to be managed correctly.

Here are a few examples when emails have gone wrong and how it's so easily done.

Sending to All instead of One

Recently, Aviva Investors sent a mail to 1,300 staff members firing them. One Friday morning, an email with leaving instructions meant for one employee was accidentally sent to the company’s entire global workforce of 1,300 people. It told staff to hand over all property belonging to the company, together with security passes, as they left the building.

The email was wonderfully worded “I am required to remind you of your contractual obligations to the company you are leaving. You have an obligation to retain any confidential information pertaining to Aviva Investors operations, systems and clients.”

And it closed with: “I would like to take this opportunity to thank you and wish you all the best for the future.”

So while the email from a written communication's perspective was carefully thought out, the sending of it was not.

It's been reported that that a stunned silence ascended on the workforce through Ireland, UK, New Zealand and other locations.

The 'Reply All' button

Two travelers booked flights for the first time with US budget airline Spirit Airlines when going to a concert. Their flight was delayed, so they missed their concert and looked for compensation. They were given $200 worth of Spirit Airlines vouchers but that wasn't enough. They wanted a note from the CEO which they got (unintentionally) and it went like this:

"We owe him nothing as far as I'm concerned. Let him tell the world how bad we are. He's never flown us before anyway and will be back when we save him a penny."

Instead of only sending this to his staff member, he accidentally hit "reply to all" and the couple got to see what the CEO really thought of their complaint. They emailed it to several bloggers and the company had a very red face.

It's this type of communication that customer service or management should avoid. I constantly advise clients not to send out mails that they would not want their mums to get!

Over-use of Caps button

A restaurant client of mine received an email of complaint from a customer. However, it was written in all capitals. This is considered screaming or shouting and there were quite a few exchanges between staff and management. However, one of the managers decided to call up the person rather than just reply on email. He was a phone guy rather than an email guy.

It turns out that it was an elderly lady who didn't know how to turn off the caps lock and just wanted to alert the management about the issues of service she encountered. It was meant more as a helpful email rather than complaint…but again, the message was lost over this impersonal medium.

A Firing Offense

Another example is the infamous story of Jonas Blank in the US. He was interning in a top NYC law firm and fired off a mail to a pal revealing he was “busy doing jack...” and accidentally sent it to his boss…who fired him.

It's something that job seekers as well as professionals should be aware. Email communication is a way many people use to communicate but messages can be lost between the person writing and the person sending. From a communications perspective, it's important to know who you are sending your mail to and watch the tone and style you're writing in.

So, the rules to avoid negative press

Before you begin any emails, think about who it is you're sending the email to and what you want to say. Here are some basic, but sometimes forgotten, tips to help you get on the right email path:

Professionalism - Above all, your emails should represent you in a positive and professional light. You wouldn't wear a dirty, creased suit to work so you shouldn't send an email that portrays a less-than positive image of yourself.
Clarity - Be as clear as you can with your emails. Say what you need to say and sign off.
Approach-ability - You are neither everyone's best friend nor are you their boss. Be approachable in your emails; don't be over-friendly and don't be too cold. Find yourself a happy medium as emails do help to build and nurture relationships.

What to do if you inadvertently send a bad email

Sending a bad email need not result in negative press but it does require management and immediate management at that. You can avoid red faces if you act accordingly. Ignoring it and hoping it goes away will never help. Whether you send a mail for personal or professional reasons, you can always recover from it by following some simple tips:

Be prompt - Send an apology email straight away. As soon as you realize there is a problem, recognize it and do something about it. Don't be an ostrich and bury your head in the sand, hoping that it will all go away. It's easier to do that but better not.
Be honest - People admire honesty. And most of us make mistakes at some point – having the courage to admit it is admirable. So be honest, admit your mistake and make amends to move on.
Apologize - Everyone knows when an apology isn't meant. So in order to right an email wrong, you need to be transparent and open. It will come across as sincere – just the way you want it to.
Realize your responses - Acknowledge that despite your best efforts of apologizing, you will get responses that you may not like. It is those responses that need to be managed on an individual basis.

In summary, being careful and professional when sending emails is the best form of prevention in sending incorrect emails. But everyone is human and mistakes happen. If they do, act immediately to resolve any issues to save your reputation.

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How To Give Your Services The Product Factor

Denise Fay — Wed, 02 May 2012 16:34:36 +0000

For many business owners, theirs is a service based business. Yet the marketing theory tends to focus on product-based businesses – the ability of consumers to taste, touch, see, smell a product. Services can be quite the reverse. If you deliver intangible services such as those by law firms, marketing consultants, management consultants, education providers and much more, then more than likely, you are almost selling the invisible.

Give your services the ‘product’ factor

So how do you give your services the 'product' factor? How can you make your customers truly see, smell, taste and touch your service?

The answer lies in your approach to services and using good marketing techniques.

There are four characteristics that separate services marketing from product marketing. They include:

Intangibility
Inconsistency
Inseparability
Inventory

If we examine them in turn, each will enable you to add the five senses to your marketing.

# 1. Intangibility

What this characteristic tells us is that once a service has been performed; there is nothing to take home. In essence, services aren't physical so they can't be owned. As services can't be seen or touched, then assessing their value can be quite difficult.

But there is a way around this. Here are a few thoughts to add the tangibility factor to your service business.

How to add the tangibility to your service:

Ask for Reviews - Reviews or testimonials give great social proof to the ability of your services. It shows that a. other people have used your service and b. their problem was solved by using your services. There is nothing quite like a testimonial to add substance to your offering. Encourage reviews and ask for testimonials from your clients.
Give Actions - If you provide education or training, make sure that all students have a format whereby they can take action on your learnings. Through implementing what you taught or explained to them, they get a sense of achievement. This leads to a feeling of accomplishment and when someone accomplishes something, they feel good about themselves. They start to see that anything is possible. So you're adding feelings and sight to your intangible service.

# 2. Inconsistency

What this characteristic informs is that everyone is different. While you may get the same product every time you buy it, chances are that it tastes the same, looks the same or feels the same. It's not quite the same with services. Every employee is not the same as the next person. And even though you may get the same great person all the time, there is a 1% chance that they may not be great.

It's human nature; most services' businesses are people-based and personal performance can vary by workload, the time of day and just life in general.

How to be more consistent when delivering your service:

Look out for signs of tiredness - Don't wait for complaints. If you see an employee is tired, then step in. This is particularly relevant in a restaurant, hotel or service based business.

Customer care training - It is essential to do regularly and not just at the induction of an employee. Make sure that all staff are trained on the lifetime value of a customer and to meet and exceed expectations. Do refresher courses every month or quarter.Undertake mystery shopper assessments so that weaknesses can be identified and improved upon.

# 3. Inseparability

This characteristic explains that it is impossible to distinguish between the service and the server. The production of the service can't be separated from its consumption. A good example is a hair dresser. You can't really separate the hair dresser from the cut/colour/blowdry. Similarly with a lecture, you can't separate the lecture from the lecturer.

How to help separate your service from the server:

Use copywriting - Describe in as much emotional detail what your customer will get or how they will benefit from using your service. That way, the benefit of using your service becomes the primary motivator. Highlight the individuality of each employee, and what they bring to the service. This again emphasizes the benefit of or the result of using your service.

# 4. Inventory

This characteristic explains the last difference between products and services; that services can not be stored. Unlike warehouses full of products, service providers can't store services for future uses.

How to have stock to meet the demand of your service:

Be strict with your time - Learn to say no. If you trade hours or seats or haircuts or medical appointments, then you need to learn the fine art of saying no. If you're under-pressure, then by not saying no, you lend yourself to being inconsistent (over worked and over stretched), thus leading to giving a bad experience.

Monitor demand - When demand fluctuates, it can be a real challenge to keep your standards up. As a service provider, you can't order more of what you provide. Monitor demand fluctuations in your business, perhaps, they are seasonal, so take on staff or outsource as necessary.

By applying the four 'I's to your service business and deciding to substantiate your business, you are doing more than selling the invisible. You are offering your intangible services to clients who can now fully understand the benefit of using your service and will be queuing at the door to use you.

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