2019 Business Excellence Forum – Blinding Flashes of the Obvious Part 2

Continuing with Brad Sugars’ presentation.  Brad listed some of his favorite 5 Ways strategies (in his order of preference):
  • Margin:
    • Don’t just raise prices, continually educate your customers and team as to your value proposition
    • Don’t discount – instead of giving away cash, give away value (make it special)
  • Conversion Rate:
    • Training, training, training
    • Make a benefit list – the top reasons customers should buy
    • “you can’t outsell your competitors if you don’t know them.” – Learn as much as you can about what they do well and not so well
    • Flowchart your sales process
    • Use Critical Non-Essentials (CNEs)
  • Average $ Sale:
    • Training, training, training
    • A/B/C/D customers – guide your customers, or send some of them to your competition
  • Number of Transactions:
    • Constantly build your database
    • Rebooking
    • VIP programs
    • Special offers & events
  • Lead Generation:
    • Video testimonials
    • Professionally built website
“Marketing is the life-blood of the business.” Our next speaker was the very inspirational Dr. Jen Welter.  Dr. Welter is the first female coach in the NFL.  She coached the inside linebackers for the NFL’s Arizona Cardinals.  A few key BFOs are:
  • Don’t live life looking in the rearview mirror
  • Be defined by what you do, not by what people are willing to pay you
  • “You are the producer, director, and lead actor of your life.”
  • “Why fit in when you can stand out?”
  • People listen when you whisper
We finished day one with a presentation from Richard Maloney, Founder and CEO of Engage & Grow Global.  Richard’s presentation revolved around the subject of employee engagement; its definition, costs, and its cure.  Among the many, many BFOs presented are the following highlights:
  • “Nobody cares how much you know until they know how much you care.” – Theodore Roosevelt
  • Definitions of the different levels of employee engagement
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  • According to a 2017 Gallup survey of companies in the US 69% of employees were disengaged (a 1% improvement from 2016)
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  • Disengagement looks like this
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  • And a Gallup poll concluded that an engaged workforce yields tremendous benefits
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  • Richard outlined the 6 Steps to employee engagement
img_2913-for-blog A few more key BFOs
  • “If you don’t measure, you lose treasure.”
  • Resolve disagreements within your company quickly – get the “splinters” out before they become infected
  • A great question to regularly ask your team is – “What around here needs to improve to become number one in our industry?”
Stay tuned for the next installment of BFOs from the 2019 BEF.

2019 Business Excellence Forum – Blinding Flashes of the Obvious – Part 1

For the fourth year in a row, the Business Excellence Forum (BEF) grew and exceeded the previous years in attendance, presenters and content.  This year there were more than 700 business owners, executives, team members and business coaches in attendance in Charleston, SC.  With that many attendees, there was an abundance of formal and informal exchanges of ideas, strategies, success stories and best practices. This year’s forum had an extensive list of keynote speakers whose presentations yielded many Blinding Flashes of the Obvious (BFOs) and new ways of looking at things.  The following are some of the BFOs that struck a chord with me, all of which will enhance the value I bring to my clients.  I am sure that some of these will have a similar effect on you. The event began with Dr. Mark Thompson and Dr. Bonita Thompson, authors of “Admired – 21 Ways to Double Your Value”.  Their presentation was about “Being The Most Admired Brand.”   They presented the five factors needed to be an admired brand:
  1. Who do you admire?
    • We admire people with the same values as us
    • We all need “Power Partners” – mentors
  2. Productive PARANOIA
    • Steve Jobs 1.0 – was fired from Apple. At that time, he was ambitious, arrogant, and lacked humility
    • Steve Jobs 2.0 – re-tooled himself and built Apple into one of the most valuable companies in the world
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  1. Value-Creators – If your house burned down, would you:
    • Rebuild the same House?
    • Using the same Process?
    • With the same Team?
    • What about your business? Does your business create Value?
  2. Never-ending Mission – four parts
    • BHAGs – Big Hairy Audacious Goals
    • OKR – Objectives and Key Results
    • Simplicity
    • Urgency – Creates Learning & Growth
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  1. Deliberate Practice – 6 Parts
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  1. Redefine Success – What is your definition of Success?
img_2846-for-blog They concluded with the secret to passionate growth: img_2849-for-blog And Number 7 Gratitude. Our next speaker was ActionCOACH Chairman and Founder, Brad Sugars.  Under the often-repeated mantra of going back to basics, Brad presented some reminders and updates to the Six Steps to Massive Results seminar.  Highlights include:
  • Don’t fall in love with your product or service – break out of your rut and continually improve and innovate
  • It is no use building your marketing if you can’t keep the customers – make sure you can consistently deliver
  • With the internet and social media, marketing has shifted toward labor, away from spend
  • In the ActionCOACH concept of Test & Measure – testing has become extremely easy because of all the statistics that are available
  • Use the ActionCOACH 5 Way Formula backwards, from Profit up – 5 years, 4 years, …
Stay tuned for the next installment of BFOs from the 2019 BEF.