Dr. Shailesh Thaker - Best Management Training Blog - Top Management Consultants

Posts Tagged ‘business coach’

Elon Musk said, “One was the Internet, one was clean energy and one was space.” “If you have millions of dollars it changes your lifestyle, and anyone who says differently is talking bullshit,” says Musk. “I don’t need to work, from a standard of living point of view, but I do, you know. I work every day and on weekends and I haven’t taken a vacation for years.”

Musk founded a company called Zip2. It was a software company that helped news organizations publish their information online. Later on, Musk In 2001, X.com legally changed its name to PayPal and bought the rights to the domain name. Here, Musk focused solely on improving the ability to securely email money. It was slowly becoming a popular online feature of many websites.  It was bought out by eBay for $1.5 billion in stock.
Musk asserted great 5 lessons of leadership.
1/ Keep you operation lean and clean.
2/ Commit to failing in a new way.
3/ Make your mission holy grail.
4/ Use innovations to break through your limitations.
5/ Tap in to today’s top talent.
Although I am new in the business but I was thinking that this is the chance to fulfill a dream. I am here to make great thing and it is possible.
Leaders need clear and measurable objective in the life. Remember, we are on this planet to make difference in the people. After spending nearly 60 to 70 years on the planet, if we cannot make any visible and measurable difference in the society or life of the people, what is the fun in living on this planet?
Leadership is making thing happen not watching happening.

Could either watch it happen, or be part of it?

Leaders are live all the time till the last breath.

British couple – age 97 and 87 years got married at their home in London. Both have combined age of 184 years. It is never too late to live with true love. Henry felt in to love while reading poetry in the poetry circle with Valerie in South Africa. Henry had proposed to Valerie over a cup of tea.

Living is important and living with passion and true love is more important.
They live with passion and emotions. Physical age and mental age never affect activities of their life. They are never influence by age.

You do swimming, exercise, dancing, singing, reading, writing, playing, creatinging and anything you would love to do, do it but do it. Doer is always towards hilarious success. Leader never waste life in status-qo when it could be turned into momentum.

You’ve got a lot of choices.  If getting out of bed in the morning is a chore and you’re not smiling on a regular basis, you are dead. Your each step should make you happy. Don’t wait for the last step; it’s happened every day or anyone to make you happy or live.

Every day is a great day, see everything; over look a great deal in a day. When you review a day there is a little correct to do.

When yesterday’s manager peeps into today’s business world, he is more likely to see a world that will astonish him.

In his times, in all likelihood, no one understood the distinction between ‘efficiency’ and ‘effectiveness’. Both the words for him meant the same thing i.e doing your work to the best of your abilities and skills notwithstanding
the results produced by the efforts.

In today’s times, the distinction is clear. ’Efficiency’ is merely a process to obtain results which may or may not have much to do with results. How so ever good and efficient one may be in performing the processes, he is to be termed as
ineffective if his efforts do not produce the desired/pre -decided results. In other words, efficiency is a mere tool to achieve the results and it is only effectiveness that will define the productivity of the person and the organization
which he works for.

This is the reason why today’s CEO speaks and understands the language of results rather than the efforts made in efficient processes.

Cause and
effect scenario

CAUSE

Let us dwell into why this metamorphosis has taken place in the approach of the private corporates and even public sector organizations to an extent.

The consequence was that markets of all the sectors of the economy opened up and element of competition started to force the companies to introduce new products
to withstand the competition.

The emphasis now was not on mere ‘existence’ but ‘continually profitable existence’.

EFFECT

Under these circumstances, for sheer survival, the corporates have to up their antenna and the entire focus has to be shifted to customer satisfaction rather than on human/technological processes alone.

In the current scenario, the manufacturer or
service provider has to structure and orient all business processes with the single aim of customer satisfaction. The vision and business strategies of all corporates are therefore, to be geared to fulfill this aim.

This also has necessitated a drastic change in the mind-set of the CEOs of today’s corporate as well as that of the employees. The emphasis now is on ‘Targets’
and ‘Timely’ completion of the given task and processes, without compromising on quality.

In the light of this, ’Meritrocracy’ is now the critical element of the today’s management matrix. The corporates who somehow are not able to gear themselves to
this are not likely to survive and thrive in this competition driven market.

Conclusion

If we want to see companies as a developed  competing globally with the best, our CEOs will have to keep themselves fully updated with the latest management trends, develop new and upgrade their existing skills to deliver.

Their current ‘Best’ may just not be enough!!

I recently read about a smart tactic a Fortune 500 marketing manager used to increase sales by 10%.

I think you’ll find it useful. And I think it’s something you can implement right away to improve your sales. But what I’m even more excited to tell you about is what the manager did wrong. Which, when done right, should increase sales by even more, perhaps by 27%.

So, what did marketing manager, Brian J. Maynard, do when marketing his company’s Jenn-Air and KitchenAid appliances?

He communicated, using statistics, how his products were superior. And his actions lifted sales and website traffic more than 10%.

“Consumers tell us that what they care about are the results — ultimately how well the product cleans,” Maynard says.

So, Maynard executed on the following plan:

Step 1: Conduct market research

First, his team conducted research to prove that its dishwashers outperformed the competition; it did so by 25%.

And to avoid criticism, they tested according to industry standards established by the Association of Home Appliance Manufacturers.

Step #2. Communicate results in consumer-friendly way

Rather than use jargon, or promote multiple findings from the research, he sited one statistic that was 1) easy to understand, and 2) most important to customers in their decision making process. This statistic was the fact that their appliances yielded 25% better results than the competition.

Step #3. Include the results within all the company’s marketing messages

The “improved results by 25%” message was included in all Jenn-Air and KitchenAid marketing efforts including:

- Television advertising
- Search PPC and online display ads
- Website landing pages
- Print advertising
- Point-of-sale displays (e.g., stickers on machines in stores, in-store flyers & in-store banners)

The resulting 10% increase in sales makes sense, doesn’t it?

By PROVING, using statistics, that their products were better, and by marketing this improvement in multiple venues, sales increased. All very logical.

So, clearly, if you can conduct research to prove that your products or services are superior, do so. And then tell the world about it.

But, I want you to correct what Maynard did wrong.

He failed to leverage the Law of Specificity which states that specificity encourages believability and credibility.

Specifically, Maynard stated that his products were “25%” better. If he would have said “24.7%” better, the results would have seemed more credible and believable to his target customers. As a result, I expect that sales would have jumped significantly more.

One great example of specificity is Ivory soap, which claims itself to be “99 44/100% pure.” Not 99%. Not 100%. By being extremely specific, Ivory’s claims are more believable.

So get specific.

As the Indian economy is all set to grow by 7.5 percent this year, experts are saying that it could be the best time for Western CEOs to learn some lessons from their Indian counterparts, reports CNN.

While Western economies continue to stutter, a report forecasts that India will soon return to the high-growth trajectory it enjoyed before the crisis. At the same time, the new research published in this month’s Harvard Business Review shows that the heads of India’s biggest companies have a very different approach to leadership from Western bosses.

Peter Cappelli, Professor of management at Wharton University of Pennsylvania, was one of the researchers behind the study, and based on interviews with leaders and HR departments from 98 of India’s 150 biggest companies, he identified some of the key differences between Indian and Western bosses.

“In terms of lessons for managers elsewhere, one of the most important things is that Indian leaders lead with a sense of social purpose,” Cappelli told CNN. He said that every leader interviewed gave a specific social purpose as being the goal of their business. Those purposes ranged from improving healthcare in India, to getting cell phones to people who don’t have access to communication tools, and proving to the international community that Indian companies can lead in IT.

“Having a social purpose really motivates workers,” said Cappelli. “If you can articulate a social purpose for your organization and take it seriously it can have real benefits.” Indian firms invest an enormous amount in their employees’ training and development, and IT firms typically allocate 60 days of formal training for new hires and companies often spend months training even experienced workers hired from other firms.

The study said that U.S. firms have largely abandoned investing in employees, seeing it as a waste if they leave the business. It adds that employee turnover is estimated to be 30 percent in India, and investing in employees ensures the quality of those who stay at the company.

According to Cappelli, U.S. companies often think about strategy in terms of chasing customers or pursuing market opportunities, but Indian firms will more often start by identifying their strengths, identifying their customers’ needs, and then try to meet those needs.

“Indian companies do that by taking smart, motivated people, really engaging them and investing in them, and letting them loose to just beat on those problems, often with just trial and error approaches, until they come out with a solution that’s kind of out of the box,” he said.