The Importance Of Playing Tennis With Better Tennis Players.

"It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction." - Warren Buffett

Have you ever played tennis?

• Play with someone worse than you, you won’t push yourself at all and play at a much lower level than you usually do. You’ll coast.

• Play with an equal player, I promise your game will be boring as hell. Back and forth, you get one point, they get one point. BORING.

• Play with a better player and you'll be forced to play a better game. You’ll have to move faster, anticipate their moves, and push yourself harder than you ever have before.

Think of all the highly successful business people you know, whom do they hang around with? Who do they have lunch with? Why do you think they do that?

Because they play a better game. The easiest way for an adult to learn is to mimic other adults actions and behaviors. It could be a very apparent behavior or a very subtle action. But these cues are picked up (just like in tennis) and are absorbed.

So today, you need to play a better game. Hang with the big boys and girls. Watch what they do, how they react, how they take action. Set up that lunch, make that appointment, hire that new rising star — it’s time you play your ‘A’ game.

You might surprise yourself and serve that ace.

Are You Good Enough For Shark Tank?

Ever watch the Shark Tank? It's a reality-based TV show which features a panel of entrepreneurs and business executives called "Sharks" who consider offers from other entrepreneurs seeking investments for their business or product. Sometimes it's great, sometimes it's hokey, but in the end. 7 million viewers don't realize major business learnings are occurring right in front of them.

The premise is simple — the entrepreneur has approximately 3-5 minutes to present their business opportunity/invention and the 'investors' then have the opportunity to bid on it (and hopefully make it a raging success!).

Let's look at what you should be taking away from each episode:

Be Prepared

You can immediately tell who has their pitch down and who doesn't. Who are the fakers and who are the 'real' businesspeople.

It's amazing how many people I meet who don't have their act together when it comes to their business or career. It seems like they are drifting through life, allowing the river to pull them along — no paddling, no rudder — and they might be heading for the rocks . . . or the waterfall.

Talk On Your Feet

In Shark Tank, you only have 3-5 minutes to present your product. You have to give the best and most critical information quickly and in a way where your audience immediately understands what you do and what the opportunity is. Many presenters don't have solid pitches and the ability to answer easy follow-up questions.

Handle Obstacles With Aplomb

It's funny when you see the presenter finish their pitch and are aghast when the investors ask penetrating and direct questions. Many presenters stumble, some are defensive, and only a few have the gravitas to handle the pressure and perform.

Face it — you will hit obstacles EVERY DAY of your life and it's how you deal with those obstacles which define each of us for greatness. That's why they call it 'work'. If you are giving a status update to your board or pitching your services to a new prospect — make the assumption that they will ask hard questions. If they do, it means they are really interested!

Be Able To Sell Yourself Anytime

It's so funny when I bump into someone or I meet them at a networking event and they are definitely not prepared to speak with me about what they do. They obfuscate, they skitter, or they quickly skip over their most important deliverable. Guess what? I've lost interest.

How about saying something like — "When people are stuck, I get them moving forward - fast." or "It's hard to fully trust someone today - they all have agendas - I'm the one executives call who they can trust." (this is what I say)

Know Your Financials

This is my main pet peeve — entrepreneurs go on the show with some outrageous dollar amount in mind and no way to back it up. The minute the sharks begin to ask questions, the entrepreneurs stumble and pause. Not good.

If you are pitching a client, know EXACTLY what is behind your number and what it is composed of — so if they ask, you have an answer. Also, be prepared for a counter-offer and the full ability to explain your deliverables.

Know When To Close

I've seen too many people not know when to close — they fumble along and wait for their client to 'make their move'. You see it constantly on Shark Tank — they do their presentation and then the sharks either bow out or make an offer.

When you hear the 'buy' signal — go in for the 'kill' and close. Ask for their business, negotiate the offer up or down, and shake their hand!

Smile & Walk Away

There are many Shark Tank contestants who are rebuffed by the entire team of sharks. It's usually because they have a bad business idea or they didn't present or negotiate well with the sharks.

IMPORTANT: Even though you have a stellar idea, you can kill it with a bad presentation or negotiation style.

If things don't go well during a pitch or job interview — close, smile, and walk away. Don't let it get to you — it was never going to happen. The more upbeat you are, the more the client will think that they just let the biggest fish of their career, get away.

P.S. As you can probably tell, I love the Shark Tank and hope everyone who reads my blog runs off to watch it!

Why Is Everyone Acting Like A Child Today?

It's getting worse. I'm hearing it from both my business and corporate clients. There's a clear delineation between how people interact and how they run their business.

Look — I coach CEO's, CMO's, SVP's, Executives, Attorneys, Doctors, Wall Street Financiers, Business Owners, etc. So I've seen it all.

Has this ever happened to you?

• You've gone on 7-10 interviews and are ready for an offer and then suddenly they say the position is on-hold or gone.
• You've presented in front of a client multiple times and it's a done deal — then they disappear.
• Prospects show extreme interest then they don't return your calls and emails.
• Your client disappears for weeks on end then it's hurry-up, hurry-up.
• Clients who hold back payments for completed service for weeks/months or they debate the fee even though they agreed to it prior to the engagement.
• You meet someone and they show EXTREME interest in your product/service, but when you call them to confirm your lunch/coffee, they act like they don't even know you OR they never answer the phone.
• They're your friend and close client one day — and the next, they're questioning every price and moving on to another service provider.

Guess what? Here's the reason — let me break it down for you:

• 40% of the people you work with act like ADULTS.
• 30% of the people you work with act like TEENS.
• 30% of the people you work with act like CHILDREN.

What do I mean?

ADULTS - The 40%

These are the acquaintances, prospects, and clients who act NORMALLY. They are responsible, they follow up on their promises, they return phone calls and emails on time, they pay on-time, and are generally easy to navigate and get along with. They're reasonable and are satisfied with the product/service delivered.

These are the keepers — treat them like GOLD.

TEENS - The 30%

These are the acquaintances, prospects, and clients who act like TEENS. They are fine most of the time and are easy to do business with, but there are times when they act irrationally. For no good reason. They get emotional, they shut down, they bite back.

It's usually for a good reason — their business is hurting, they just lost a key team member or client, or the industry is changing. Unfortunately, they take it out on YOU. It's not fair, but that's business.

Most of the time — they just need a shoulder to cry on or just someone to listen to them. Be there for them and they will be your client for life. Be flexible, modify your offering, help them get through this bump in their career or business.

CHILDREN - The 30%

These are the acquaintances, prospects, and clients who act IRRATIONALLY all the time or from the outset of your relationship. You've probably run into these people — they treat you like SHIT. They don't care if their behavior impacts your business. They see you are calling and emailing — they won't give you the benefit of a simple phone call.

These acquaintances, prospects, and clients need a firm slap in the face. At the end of the day, you really have nothing to lose. You need to get their attention in a very calculated way. Here are some suggestions:

• Stop playing nice - shut them down. Be cordial and professional, but when you call them say, "I get the feeling you might be too busy to return my calls and I understand that. Unfortunately, this will be my last communication with you. Good luck with your endeavors and I hope you have a great 2012." When you step back, they usually follow and call you.
• Escalate the interaction. Stop by their office (especially if they owe you money) and ask to see them. Say, "Hey, I was just in the neighborhood and thought I would stop by." Get in their face — smile and engage them.
• Appeal to their nobler motives (this usually doesn't work with children). Call them and let them know you've been trying to contact them for weeks or months. Say you've tried to be professional — but your just going to have to let them go. But before you hang up, give them some bait, "I had a really good prospect, report, idea, connection for you — oh well."

The most important behavior is to escalate the interaction in some way. This economy has sent a lot of people into a scarcity/cocoon mode. They don't want to make decisions (even though they know they have to), they don't want to spend money (even though it's imperative they do), and they display aberrant behavior that burns bridges constantly.

They think they can get by with this behavior — but it's just slowly digging a deep hole for them.

So when you run into an adult — cherish them! A teen — ask questions, listen, and help them through this bump. Children — escalate the interaction — you have nothing to lose.

I'd love to hear your experiences and if you have a different percentage breakdown — LET ME KNOW!

How To Become Unfireable – Part Four: Use Your Peripherals Pal!

Most executives tend to keep to themselves. They go to meetings. They interact with their clients. They even give a presentation or two. They feel their work will deliver success, money and notoriety.

Guess what? It's not enough - they're not even close!

Start standing out from the crowd. Be noticed. Have your work seen by the right people at the right time. Use your PERIPHERALS and start seeing the hidden opportunities out there.

YOU NEED TO MARKET YOURSELF.

How? Here are some tips:

#1. Broadcast your ideas. Stop messing with all the tactical stuff — think what is going to happen with your company, marketplace, or product in 6, 12 and 26 months in the future. Brainstorm with others about what you’re thinking. Put a presentation together and present it to people who matter. Get those creative juices flowing!

#2. Stick you head above the cubicle. Look around — what’s happening in your office, in your neighborhood, your marketplace, the world? If you worked for bookstores, record shops, newspapers . . . you should have seen this coming YEARS ago. But most people stick their heads in the sand. Start using your peripherals — who’s moving up, who’s going out of business, who’s getting fired, who’s making the big bucks?

#3. Go where the important people go. This is a big one — mingle with the big boys and girls. If you are an executive, have lunch with them — see how they think, tell them your ideas, mingle! If you own your own business — stop trying to go through intermediaries to get your next client or customer. Go where they go and mingle with them! If you are targeting high-income earners — hit charities, country clubs, salons, gyms — anywhere they might be.

Stick your head into the clouds - start thinking and acting that way!

POST YOUR QUESTIONS OR COMMENTS BELOW.

P.S. If you want to learn HOW to develop a clearer vision of your upward career path, let's talk. Current clients already know this (and they have it built into their action plans). If you’re not a client . . . grab your spot now before all the spots for October are taken.

Be Smart. Know When It's Time To Quit.

I hear it all the time.

“I’m bored with my job,” “There’s no challenge anymore.” “My team is so dysfunctional, I’m tired of leading them around.” “My business model is getting stale.” “My clients are slowly going away.”

I tell my clients without any sugar-coating: “It’s time for you to leave or make major changes.”

But most people don’t want to hear that. They are all comfy with their routine and you know — in a few months everything will be fine again.

Wrong.

Why? Most positions and companies have a lifecycle. You’ve seen it — it goes up, levels off, and then goes back down — a nice bell curve. My experience (20 years corporate and 10 years coaching) — the timespan of that bell curve is 2-3 years.

Now the curve may not go all the way to the top or sink all the way to the bottom, but the general shape or experience is:

Up — learning, meeting, understanding, making a stake, growing reputation. Apex — performing, interacting, growing, gaining major rep, lots of street cred. Down — delivering, accolades, awards, moving on, finding a new home/client base.

Again, your career or business might not match perfectly to this model, but it’s pretty darn accurate to the majority of professionals out there.

If you’re an executive, every 2-3 years you will need to move to get a larger jump in pay, more responsibility, more leadership, a new organization with new challenges and more people to meet. Preferably with another company — most successful executives do this.

If you’re a business owner, every 2-3 years you will need to reevaluate your business model, your client base, your marketing/operations/staff, and financial targets. Not in a minor fashion (that should happen yearly), but in a major way (wholesale analysis and scrapping, and delivery of a new direction). Most successful businesses do this.

If you stay where you are, don’t change a thing, and keep your ship pointed in the same direction, I promise you will be repeating one or more of the statements at the top of this post.

HOW do you do this? Catch tomorrow’s post.

Do you change every 2-3 years? How has this worked out for you?

This has been another installment in my ongoing series, “Are You A Catalyst?” — today’s focus is how to move frequently.

BRAG — Toot Your Own Horn Without Blowing It.

Most people can’t sell themselves.

The Best Salespeople, who obliterate their numbers every year, selling products and services - have a hard time developing a personal talk-track.

Accomplished Executives, who are comfortable pitching in boardrooms, convincing multi-nationals to sign on the dotted line — have a hard time in interviews for a new position.

Business Owners, day-in and day-out, have the best location, web-site, media, and business card — have a hard time coming up with a simple process to close the deal.

Why is this? Why is there such a dichotomy between great sales performance and the ability to apply those techniques and tools to ourselves?

In my ongoing series, “Are You A Catalyst?”, today's focus is knowing how to brag effectively.

Peggy Klaus, author of Brag! The Art of Tooting Your Own Horn WIthout Blowing It, proclaims we tend to tell ourselves myths which ultimately sabotage our actions.

Myths such as:

• A job well done speaks for itself.
• Bragging is something you do during performance reviews.
• Humility gets you noticed.
• I don’t have to brag, people will do it for me.
• Good girls don’t brag.
• And the biggest one — Brag is a four-letter word.

Her main drive is to abolish these myths taught and ingrained into our psyche. One has to un-learn past behaviors (taught to us lovingly by our parents and schools) — to be prepared to brag effectively when it feels comfortable — during appropriate times and places.

Some suggestions from Klaus:

• Get a plan in place - be prepared with tight talk-tracks to help you brag.
• Get creative - make what you say engaging and interesting.
• Become the star player vs. promoting team spirit - take credit when credit is due.
• Brag through your weak points - acknowledge liabilities and focus on strengths.
• Make sure your fans get it right - prep them to present your story in the right light.

This book is a keeper — I recommend it to all of my clients when they hit an invisible wall and struggle with self-promotion. Check it out.

What techniques do you use to brag effectively?

Stupid Things People Do At The Office – Meetings.

What's the worst thing that could happen to you at work other than being fired? That's right going to MEETINGS. Just think of sitting today (on a Friday) cooped up in a windowless conference room at 3:30 PM for another hour. Lights dimmed, watching slide #65 with 15 bullet points? Droning voice? Closed door - really hot - the person next to you getting ripe? Is that what you dreamed about when you graduated from college?

Meetings. They suck the lifeblood right out of your body. Here's a little tip — don't go.

That's right. Flee . . . run away. You have better things to do with your time.

If you are an attendee to a meeting:

• Try to decline. You probably don't need to attend 25-50% of the meetings you go to. Why? Because most meetings are either superfluous or your attendance will not add any value to the discussion.
• Arrive late — Leave early. Don't just do this, it's impolite. Let the organizer and some key people know that you will be doing this. Then you still get the gist of the proceedings AND cut your meeting time by 25-50%.
• See if you can change the meeting into a short one-to-one discussion. 75% of meetings are too formal, go on much too long, and allow the more mentally challenged executives to run their mouth for hours. Edit it down. If all else fails:
• Keep the meeting on point. If the meeting organizer is not organized, you take the lead and keep people on point. They will love you for it.

If you are running the meeting:

• Cancel it. Do you really need to have this meeting? Can it just be a short conversation between 2-3 people?
• Shorten it. My experience in corporate (20 years) tells me that most if not all meetings are always too long. If you've scheduled an hour, make it 20 minutes. 30 minutes? Make it 15. Any more than an hour, shame on you!
• Get rid of the chairs. Make everyone stand around a whiteboard. Act like a sports coach - ask questions - make decisions. With no chairs, people will want to get out of there ASAP.

Smart executives regularly turn down at least 50% of the meetings they are invited to. That's how they have time to do all the cool things they want to do AND get their work done.

Love to hear your thoughts – comment below or email me anytime! – Rich