The Golf Ball and How Nike Missed The Boat

Leading up to the 2000 US Open tournament, virtually all the golf balls in use, especially by professionals, were of wound construction.  Top of the line balls had balata covers which better golfers beat to shreds.  Tour pros routinely used six balls per round.  The exception was a Titleist ball with an Elastomer cover, the Titleist Professional, which closely resembled the Tour Balata, but with a more resilient cover.

At the beginning of the 2000 season, Tiger Woods, who was a Nike athlete was using the Titleist Professional ball.  Nike in partnership with Bridgestone Golf was prototyping a ball called the Nike Tour Accuracy, which Tiger call “My Ball”, planned for release at the beginning of the 2001 PGA Tour season.  In early 2000 Tiger had narrowed the prototype field down to two versions.  After some additional testing, the final version of the ball was brought to Hamburg for testing during practice rounds at the 2000 Deutsche Bank-SAP Open.  In a wind-swept heavy rain, Tiger hit a drive from the first tee with the Titleist Professional ball that the wind caught and push into the rough.  Tiger next hit the Nike prototype on the same starting line. The Nike ball moved about five yards in the wind and stopped in the middle of the fairway.  In May 2000, Tiger switched to the Nike ball, ahead of the original schedule.  Starting with the 2000 US Open, Tiger won his “Tiger Slam” with “My Ball” and changed the golf ball industry in the process.

What does this have to do with business?  During that period, Tiger Woods was the most influential golfer in the world.  That influence resulted in a complete move away from wound golf balls to the new two- and three-piece balls.  To quote Tiger;

“I won four majors with that ball, and the rest is history because wound-ball technology is gone.  Everyone switched.”

Unfortunately, Nike was totally unprepared to capitalize on Tiger’s success using the Nike Tour Accuracy golf ball.  Kel Devlin, Nike’s global director of sports marketing still ponders the circumstances around the ball.

“If we had enough capacity, and I could have gotten the sports marketing folks and Phil [Knight] to buy into the bigger program … if we’d had the ball available to any Tour player who wanted it four weeks earlier than we did …”

Result?  Nike is no longer in the golf ball business and Titleist continues as the far and away best-selling brand of golf balls.

So, I ask you the same question I ask of most of my clients when they are about to begin a new strategy or marketing program,

“What if this works?”

When you do something new, do you prepare for success?  If you are launching a new product or item, do you arrange for timely delivery of inventory on a just-in-time basis?  If you are launching a new service, has your team been fully trained to consistently deliver the service up to the quality you require, while continuing to support (not losing) your existing loyal clients?  To successfully scale your business, it is essential to ask these questions and many more as part of your planning and implementation process.

My ActionCOACH colleagues and I are expert at assisting clients just like you in the development of new products and services and business growth.

*Based on an article in the June 2019 edition of Golf Magazine.

A BFO About Planning

This blog was originally posted 1/7/2018 at actioncoachmichaelbreitman.com

I had a major comeuppance and Blinding Flash of the Obvious (BFO) this morning related to one of my monthly activities, instigated by a Darren Hardy video I watched yesterday.  During my holiday break the week between Christmas and New Year’s, I worked on a few administrative tasks in advance of their normal schedule.  Among them was a look at my Accounts Receivable (A/R) aging.  I printed the A/R Summary Aging Report from QuickBooks and thought about how I wanted to collect from each of the few past due client in the report.  After deciding on several different collection strategies based on the past due amount, age and client situation, I put a code next to each past due client.   For example; some were going to receive a statement via email followed by a call, a few would get a mailed statement and a call, etc.  I must admit, I was very proud of myself for addressing this unpleasant, but necessary task earlier than usual.

This morning, almost two week later, I realized that after planning my collection strategies, I put my collection plan into my A/R folder without implementing it!  My BFO:

Planning to do something, and knowing how it will be accomplished ….

Is Not The Same As Actually Doing It!

There is no doubt that planning is essential, as the saying goes, “Failing to Plan is Planning to Fail.”  However, failing to work the plan is actual failure.

In Darren Hardy’s video, he presented a weekly Sunday Planning System (http://dh.darrenhardy.com/win-the-week).  As he explains during the video, he was given the system by a billionaire he was introduced to a few years ago.  In addition to the Sunday Planning System, the billionaire told him that in order to focus and maximize his effectiveness and results, he works on one, and only one major item per day.  He addresses that item until it is complete.  Based on this system, and my BFO, my plan going forward is to plan and finish whenever possible.  No more plan, put aside to finish later.  By the way, Darren Hardy is one of the keynote speakers at the 2018 Business Excellence Forum and Awards (http://www.thebusinessexcellenceforums.com/events/?event_id1=7) February 18th to 20th in San Diego.

As we begin 2018, I encourage you to plan and act to achieve your goals.  My ActionCOACH colleagues and I are presenting GrowthCLUB 90-day planning workshops in the coming weeks.  These powerful and very effective workshops will accelerate your journey to massive results in your business and life.  Plan to register, attend and implement your ActionPLAN.

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.

Why Should I Be Your Customer?

I often ask my clients to answer, “Why should I be your customer (client or patient) (CCP)?” from the point of view and value proposition of their ideal CCP’s, not their point of view.  That question is also featured in many of my seminars and workshops.  In fact, I posted a blog in October 2015 entitled “What is Your Product or Service?” which expanded on that very important question.  I just finished an article in the December 2018 edition of Builder magazine entitled “Closing The New vs. Existing Divide” by Vincent Salandro which offers another very practical take on this subject. While focusing in on the factors that lead home buyers to buy newly constructed homes rather than existing homes, the article presents a statistical approach to understand home buyer preferences and how a builder might increase their market penetration.  The article quotes data from the Zillow Group New Construction Consumer Housing Trends Report 2018 to make a strong case for developing a very deep understanding of the value proposition of the ideal customers of new home builders. The Zillow Group report found that while 38% of potential home buyers considered buying a newly constructed home in 2017, only 11% purchased one.  In delving deeper into the data, the author expands on many of the factors that would be useful in refining a builder’s definition of their ideal customer.  Some of the factors included where:

  • Age – new home buyers tend to be older
  • Ethnicity – 74% of new home buyers self-identified as Caucasian/White
  • First-Time buyers vs. Moving Up or Downsizing buyers
  • Geography

The article goes on to look at the top fourteen reasons buyers purchase new homes.  Such factors as:

  • Everything is new/never used – 48%
  • Ability to customize features of the home – 23%
  • Ability to have smart home features – 6%

These were a great look at new home builder’s customer value proposition. Finally, the article looked at how new construction home buyers shop for their home.  Most who purchase newly constructed homes relied on technology, 68% using a laptop or desktop and 46% using mobile devices to shop for their home.  Only one-third of new home buyers used mobile, much less than buyers who purchased existing homes. What does this have to do with your business?  To answer that, I have a homework assignment for you.  I suggest you ask yourself the following questions:

  • How well do you understand your ideal Customer, Client or Patient? – When is the last time you gathered any market statistics that might be used to refine who your ideal CCP is?
  • How well do you understand ALL the various factors that make up your ideal CCP values? – Have you asked your CCPs why they buy from your company?
  • How well do you understand how your ideal CCPs found you? – Are you “hanging out” in all the places you should?

My colleagues and I are well equipped to assist you to better define, understand and find your ideal customers, clients or patients.  The better you are at serving them, the more successful you will be.

Good Enough Never Is

I am re-reading “Built To Last” the 2002 book with the subtitle of “Successful Habits of Visionary Companies” by Jim Collins and Jerry I. Porras.  In Chapter 9, entitled Good Enough Never Is (I borrowed it as the title of this blog), the authors make the following key points:
  • The critical question asked within many of the visionary companies cited in the book is “How can we do better tomorrow than we did today?”
  • The companies in the book institutionalized the asking of that critical question as a way of life.
  • The visionary companies attained their extraordinary position because they were very demanding of themselves, never content to cease building and improving.
  • The author’s research clearly supports a strong correlation between the success of the visionary companies and the concept of “continuous improvement (CI)”, in some cases going back more than 100 years (way before CI became a management catchphrase in the 1980s).
  • Visionary companies put mechanisms of discomfort in place as a defense against complacency.
  • While taking the long-term view, the visionary companies did not back away from pushing for current growth at the same time they pushed for growth in the future. In other words, they didn’t plan for lower sales this year to fund higher sales next year.
  • The visionary companies consistently invested for the future.
These key points and several others were nailed down in the book with specific examples from the author’s research of both the visionary companies and the lower performing “comparison companies.”  For instance, in the case of Marriott (the visionary company) and Howard Johnson (the comparison company) they point out that in 1960 Howard Johnson was one of the best-known American companies.  J. W. Marriott, Jr. said at the time that he hoped that the company he had inherited from his father could one day be as successful as Howard Johnson.  By 1985, Marriott was seven times the size of Howard Johnson.  The book credits this to “Marriott’s relentless self-discipline as a continuous improvement machine versus Howard Johnson’s complacency.”  Marriott instituted mechanisms to stimulate improvement, including:
  • “Guest Service Index” reports – a major KPI based upon customer comment cards and surveys.
  • Annual performance reviews for every employee – EVERY EMPLOYEE.
  • Incentive bonuses.
  • Investment in extensive interviewing and screening of potential new hires.
  • Management and employee development programs.
  • Investment in a corporate “Learning Center.”
  • Employing “Phantom Shoppers.”
In comparing Motorola with Zenith, the author’s point out that Zenith squandered its reputation for quality by becoming complacent.  Zenith was the last company in their industry to invest in solid-state electronics, printed circuit boards and was late to get into color TV.  As an aside, I was in Chicago last month and noticed that the former Zenith headquarters building was being demolished. So, considering this, the questions I want you to ask yourself are:
  • What “mechanisms of discomfort” can you create to defeat complacency in your company?
  • What are you doing to invest in the future of your company? Leadership development? R&D? Enhanced recruiting & training? Technology?  Before your competitors do.
  • When business takes a dip, does your company continue to invest for the future?
  • Does your company’s culture not accept “comfort”, or do you constantly work to do better tomorrow?
You may be thinking that your company is not nearly as big as Marriott or Motorola (now part of Zebra Technologies).  They all started as small companies but adopted these concepts very early in their history.  You can too. Both the good news and the bad news from the author’s is “Good old-fashioned hard work, dedication to improvement, and continually building for the future will take you a long way.”  There are not shortcuts, magic potions or work-arounds. “Success is never final.” My colleagues and I at ActionCOACH are ready to assist you to build your company to last.

2018 Business Excellence Forum – Blinding Flashes of the Obvious Part 3

The second day of BEF began with Darren Hardy, former publisher of Success magazine, and founder of Darren Hardy, LLC Success Mentor to CEOs & High-Achievers.  His presentation was entitled Productivity Secrets of SUPERACHEIVERS and was based on what he learned during his many interviews with some of the most successful people in the world. The following are a few of the many BFOs I got from Mr. Hardy’s presentation: img_1637-for-blog
  • YES is easy. NO is the master skill
  • 3 Activities – consider:
    • What should I have said NO to last week?
    • What should I say NO to next week?
    • What should I say NO to on my Idea, Project, Commitment & Communication Lists?
  • “To many choices create paralysis”
  • Warren Buffet’s Method
    • Step 1 – WRITE all your priorities
    • Step 2 Narrow the list down to your TOP 3
    • Throw the rest of the list away
  • Don’t mistake:
    • Movement for Achievement
    • Activity for Productivity
    • Rushing for Results
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  • Create a “Give Up” list
  • Identify your Vital Few Functions
    • Delete / Delegate
    • Find & Focus on and leverage VITAL FUNCTIONS
  • “There is nothing so useless as doing efficiently that which should not be done at all.” – Peter Drucker
  • To be a SUPERACHIEVER
    • Stop doing
    • Master the Vital FEW
    • Out FOCUS
    • Out LAST (consistency)
    • Out GROW
    • Out FAIL – learn from mistakes
    Our next speaker was Travis Bell, The Bucket List Guy.  Travis was a speaker at the 2017 BEF (see 2017 Business Excellence Forum – Blinding Flashes of the Obvious Part 4 for my BFOs from 2017).  Travis repeated a presentation he delivered to the ActionCOACH coaches only.  This year he presented to the entire audience.  There is a few additional BFOs added to last year’s Travis Bell BFOs:  
  • The ultimate KPI is How Many People Come to Your Funeral
  • Go from Selfish to Selfless
  • Separate bucket list from to do list
Our next presenter was Steve Rogers, CEO of Alchemy Advisors.  Before founding Alchemy Advisors, Mr. Rogers was the President of Berkshire Hathaway Home Services.  Here are a few of the many BFOs from Mr. Rogers:
  • There is no perfect
  • The constant question – What will have occurred in the next 12 months to consider it a very successful year?
  • And
img_1744-for-blog Brad Sugars took the stage to wrap up day 2:
  • All of my clients have a Future Organization Chart (3 to 5 years in the future) These need to add a Timeline & Triggers to each new position on the chart
  • “Saving a wage cost me a fortune” – Brad Sugars
  • Hiring is not the same as Recruiting
  • Have at least 1 personal goal in your 90 day plan
  • Success:

See Your Goal Understand The Obstacles Create a Positive Mental Picture Clear Your Mind of Self-Doubt Embrace The Challenge Stay On Track Show The World You Can Do It

  Day 3 – A few BFOs from the coach’s session From ActionCOACH Kevin Simpson, a coach in Canada.  A few insights from his clients:
  • His bike shop client reduced the number of bikes on the sales floor, resulting in selling more units at higher prices
  • Conversation around what is possible. In the 19th century during the construction of a railroad, 32 spikers hammered in 63,000 spikes, each averaging 600 blows per hour for 14 hours.  They constructed 6.3 miles of track that day, which at the time was a record.  So the question is – Do we limit ourselves by our perception of what is possible?
  • To eliminate Bottle Necks – Communicate Priorities
  img_1774-for-blogimg_1785-for-blog
    • be in Area 4
    • Area 1 – Intention & Attention / no money – EXCUSE (below point of power)
    • Area 2 – Money & Intention / no attention – BLAME
    • Area 3 – Money & Attention / not aligned – DENIAL
    • Area 4 – Congruency (above the point of power)
  And finally, from a couple of conversations during breaks:
  • A business is finished (Step 6 of 6 Steps to Massive Results) when it achieves the ActionCOACH definition of a successful business
  • Content is GREAT / Context is IT!
  • “Where there is SHIT, there is FERTILIZER
  I hope you have formed your own BFOs from this blog series. The 2019 Business Excellence Forum will be in Charlotte, SC from February 17th to the 19th.  If you wish to join me and about 1,000 other business owners, CEOs, leaders, executives and business coaches, or if you would like to accelerate your success, please contact me or any of my ActionCOACH colleagues.  Our mission is to create

World Abundance Through Business Re-Education

A BFO About Planning (moved)

I had a major comeuppance and Blinding Flash of the Obvious (BFO) this morning related to one of my monthly activities, instigated by a Darren Hardy video I watched yesterday.  During my holiday break the week between Christmas and New Year’s, I worked on a few administrative tasks in advance of their normal schedule.  Among them was a look at my Accounts Receivable (A/R) aging.  I printed the A/R Summary Aging Report from QuickBooks and thought about how I wanted to collect from each of the few past due client in the report.  After deciding on several different collection strategies based on the past due amount, age and client situation, I put a code next to each past due client.   For example; some were going to receive a statement via email followed by a call, a few would get a mailed statement and a call, etc.  I must admit, I was very proud of myself for addressing this unpleasant, but necessary task earlier than usual. This morning, almost two week later, I realized that after planning my collection strategies, I put my collection plan into my A/R folder without implementing it!  My BFO:

Planning to do something, and knowing how it will be accomplished ….

Is Not The Same As Actually Doing It!

There is no doubt that planning is essential, as the saying goes, “Failing to Plan is Planning to Fail.”  However, failing to work the plan is actual failure. In Darren Hardy’s video, he presented a weekly Sunday Planning System (http://dh.darrenhardy.com/win-the-week).  As he explains during the video, he was given the system by a billionaire he was introduced to a few years ago.  In addition to the Sunday Planning System, the billionaire told him that in order to focus and maximize his effectiveness and results, he works on one, and only one major item per day.  He addresses that item until it is complete.  Based on this system, and my BFO, my plan going forward is to plan and finish whenever possible.  No more plan, put aside to finish later.  By the way, Darren Hardy is one of the keynote speakers at the 2018 Business Excellence Forum and Awards (http://www.thebusinessexcellenceforums.com/events/?event_id1=7) February 18th to 20th in San Diego. As we begin 2018, I encourage you to plan and act to achieve your goals.  My ActionCOACH colleagues and I are presenting GrowthCLUB 90-day planning workshops in the coming weeks.  These powerful and very effective workshops will accelerate your journey to massive results in your business and life.  Plan to register, attend and implement your ActionPLAN.

Are Things Going Well?

Earlier this week I attended a breakfast event, part of the Hofstra University Scott Skodnek Business Development Center’s Distinguished Lecture Series.  The event was a Keynote Conversation with Brett Yormark, the CEO of Brooklyn Sports & Entertainment.  Mr. Yormark was interviewed by Kevin Law, the President & CEO of the Long Island Association. Brooklyn Sports & Entertainment (BSE) owns and operates the Barclays Center in Brooklyn, the Brooklyn Nets NBA team and redeveloped and manages the Nassau Veterans Memorial Coliseum in Nassau County, Long Island.  Since Hofstra University is basically across the street from the Coliseum, many of the interview questions revolved around its redevelopment.  After answering some questions about improvements to the venue, the construction process and its cost verses the budget, Mr. Yormark moved onto the performance of the Coliseum since it reopened in April of this year.  The venue reopened with a Billy Joel concert.  In the seven months since the Coliseum reopened, they have had more than 100 events, including concerts by Barbara Streisand, Paul McCartney, Bruno Mars and other performers. Other events including G-League professional and college basketball games also occurred there.  So far, the Coliseum is ahead of BSEs projections. So, when Kevin Law asked Brett Yormark if he is happy with Coliseum results so far, Yormark replied:

“I am happy, but not satisfied.”

He used that exact wording to answer several additional questions as the interview progressed.  I was struck by how simple and yet very powerful this phrase is.  The concept represented by these six words is extremely important.  How many businesses have stopped growing or failed because management or owners became “satisfied?”  When I had my consulting practice before joining the ActionCOACH team, I met many business owners who were earning more than $500,000 per year who became satisfied with their businesses.  “Why should I continue to push hard, I’m making more than I need?”  “I am working too hard and have no time to enjoy my wealth.”  Many wanted to start enjoying the fruits of their success, reducing the attention and time they devoted to their businesses.  Many of those businesses no longer exist, failed due to over-satisfaction and the resulting lack of attention. Two things need to be highlighted here:
  1. I don’t mean to imply that you shouldn’t celebrate when a major goal or milestone is achieved. There is nothing wrong with a brief pause to celebrate and “smell the roses.”  Celebration is very important, for you and your team.
  2. One of the motivating factors that drove my decision to join ActionCOACH (and many of my colleagues) is our definition of a successful business:

A commercial, profitable enterprise that works without YOU (the owner)

I work with my clients to design, plan, structure and build their businesses so they will earn more and work less.  I enable them to achieve the state of happy life, but continuing dis-satisfaction with the value their business brings to their team, customers, community, and themselves.

At lunch, that same day, I continued my rereading of John C. Maxwell’s The 21 Irrefutable Laws of Leadership ((10th Anniversary Edition). I came to Law 18-The Law of Sacrifice.  The following from Law 18 makes the point.

“…today’s success is the greatest threat to tomorrow’s success. And what gets a team (or company) to the top isn’t what keeps it there.”

I couldn’t have said it better. My ActionCOACH colleagues or I will be happy to assist you to build your business, so you can earn more and work less.

Net Promoter Score and Your Business

During recent coaching sessions, the subject of Net Promoter Score (NPS) came up.  My clients wanted to learn what NPS is and how it might benefit their businesses.  Thus, I thought this is a good time to share a few ideas about NPS. What Is Net Promoter Score? Simply put, NPS is a very simple, direct, relatively easy, and effective method to measure your customer’s (client’s, patient’s) loyalty to your business and the likelihood they will refer your business to others.  In other words, how healthy is your customer experience and your customer relationships?  It was developed by (and a registered trademark of) Fred ReichheldBain & Company, and Satmetrix Systems. Net Promoter Score was introduced by Reichheld in his 2003 Harvard Business Review article “One Number You Need to Grow”.  NPS can be as low as −100 (everybody is a detractor) or as high as +100 (everybody is a promoter).  An NPS that is positive (i.e., higher than zero) is felt to be good, and an NPS of more than 50 is excellent. Why is NPS Important? Time after time in measuring conversion rate (as per the ActionCOACH 5-Way formula) by lead type, it is obvious that referral leads have the highest conversion rate of all lead sources.  Therefore, it is extremely important for your business to deliver a great customer experience (GCE).  A great customer experience will result in a high NPS.  A high NPS will enable your business to have a robust and consistently effective referral system.  The formula is

GCE -> HNPS -> NewCustomers -> Revenue -> Profit

Many successful ActionCOACH clients have achieved completely referral based businesses, with the ability to add as many new loyal customers as they can serve.  An added bonus to a referral based business is lower customer acquisition cost and higher lifetime customer value. How to Develop Your Net Promoter Score At its core, NPS is derived from a single question customer survey.  The question is

On a scale of 0 to 10, how likely is it that you would recommend our company/product/service to a friend, family member or colleague?”

Those who respond with a score of 9 to 10 are called Promoters, and are considered likely to exhibit value-creating behaviors, such as buying more, remaining customers for longer, and making more positive referrals to other potential customers. Those who respond with a score of 0 to 6 are labeled Detractors, and they are believed to be less likely to exhibit the value-creating behaviors. Responses of 7 and 8 are labeled Passives, and their behavior falls in the middle of Promoters and Detractors.  The Net Promoter Score is calculated by subtracting the percentage of customers who are Detractors from the percentage of customers who are Promoters. For purposes of calculating a Net Promoter Score, Passives count towards the total number of respondents, thus decreasing the percentage of detractors and promoters and pushing the net score towards zero. There are a variety of thoughts within the NPS consulting industry as to:
  • When to survey, and how often?
  • Types of surveys – relationship vs. transactional
  • Additional questions (if any), how many, what should they be?
  • How many people should be surveyed?
  • Format of the survey
There are many resources available to enhance your understanding and implementation of NPS.  This blog was based upon a great web article by Christian Reni ( https://customergauge.com/news/how-to-calculate-the-net-promoter-score/ ). If you wish to build your business on a solid foundation of raving fans who are both very loyal and who consistently refer new customers, NPS is an essential part of your toolkit.  My colleagues and I at ActionCOACH can assist you in building and implementing this important business building strategy.

2017 Business Excellence Forum – Blinding Flashes of The Obvious Part 4

Paul Dunn continued with his presentation by switching gears to speak about the concept of price anchoring. He presented a case study based upon the fact that most people remember the last thing they see or hear.  The case study involved adding eight words at the end of a price quotation for a product or service img_9693-small img_9696-small Result: 30% conversion rate for price alone, 90% conversion rate with the addition of those 8 words! Paul finished up by returning to his original concept by saying “The shortcut to more is to MATTER more.” img_9713-small img_9714-smallimg_9716-small And a quote by Richard Branson img_9720-small   A very impactful speaker who spoke briefly the afternoon of the first day and then returned to speak to the coach’s conference (day 3) was Trav Bell, the Bucket List Guy (http://www.thebucketlistguy.com/).
  • After saying that a bucket list is about what you learn about yourself during the journey, he had the entire audience participate in two hands-on exercises:
  1. We were given 10 minutes to begin writing our “reverse” bucket list – a list of things, adventures, accomplishments, and people we had already met or achieved that we were proud about. We then shared items from our list with a partner.  This was a great exercise, one which I completed on my return flight to NY.
  2. After presenting his acronym MYBUCKETLIST as a framework for our bucket lists:

Meet a personal hero Your proud achievements Buy that special something Ultimate challenges Conquer a fear Kind acts for others Express yourself Take lessons Leave a legacy Idiotic stuff Satisfy a curiosity Travel adventures

Trav gave us 15 minutes to select a letter, add an item to our list and then act on that item.  Many in the audience signed up for guitar lessons or made pledges to their favorite charity.

Both exercises were empowering and great examples of coaching.  I highly recommend you seek out a partner, or coach to create both bucket lists.

Trav concluded by saying “People are dying at 40, being buried at 80.”  Don’t be one of them.   Another presenter to the coach’s portion of BEF was Traci Diaz of Break Free Consulting.  Traci gave us many ideas, one of which stood out:

The Central Question to ask yourself several times each day is: “What choice can I make, and action can I take, in this moment, to create the greatest value?”

  The BEF was concluded by Brad Sugars.  Brad stretched everyone’s vision by challenging everyone to create their 100-year vision!  He reiterated an Owner’s/CEO’s/ Leader’s responsibility to enroll and inspire their team:
  • Vision – 100 years in the future, if the mission is accomplished
  • Mission – the value your company brings to the world
  • Culture – the rules of the game
He reminded us of the ActionCOACH formula for success Dreams X Goals X Learning X Plans X Actions = Success It is useless to lead a team that is not confident and productive Productivity comes from passion and focus Realize that the better you get at _____ the easier it becomes – tackle the difficult to make it easy. After drawing the following flipchart, Brad added that you MUST be congruent with your identity, or create MORE identity img_9728-small A case study example of expanded identity:

A doctor raised his identity from doctor to entrepreneur who happens to be in the medical business.  Result – went from one office with him as the only provider to nine offices with more than 400 providers.

We coach for break-throughs, not just learning.   After the conference, I observed a great example of communicating a Unique Value Proposition in the parking lot of my hotel: img_9772-small img_9771-small I hope you have formed your own BFOs from this blog series. The 2018 Business Excellence Forum will be in San Diego from February 18th to the 20th.  If you wish to join me and about 700 other business owners, CEOs, leaders, executives and business coaches, or if you would like to accelerate your success, please contact me or any of my ActionCOACH colleagues.  Our mission is to create

World Abundance Through Business Re-Education