Developing The CEO Within You.

You’re moving on up.

Making your way up the ladder, dodging bullets, using every last bit of your intellect and motivation to deftly ingratiate yourself with key decision-makers.

It’s a high-wire balancing act many executives go through to grab the golden ring. What are some of the techniques used? Based upon many hours of advisory with C-Level clients, here are the two major tenets that bubble to the top:

IQ – Intelligence Quotient (or Tactical Intelligence)

You have to have the chops, the intellect, the experience, and knowledge to make it through the first hurdle. It’s that simple. Many executives whine and complain when they hit a very real glass ceiling, but in the end, it’s their fault. They haven’t done the requisite homework and they’re trying to bribe the teacher with an apple. Bottom line, you have to put in the hours, the sweat and tears to adequately build a firm foundation of tools to leverage in the myriad of situations that arise. Some are:

• Financial – This is all-important – I can’t tell you how many executives I would watch sit in meeting and clearly see they had no idea what was in front of them on our financial projections. Know this area cold.
• Operational – Know how the organization works inside and out. Sit at home and map out your operational chain from start to finish. Where are the dependencies? What past decisions are holding the company behind? What areas might take the company to the next level? If you are unsure or unclear about one or more of these connections, talk to your people and LEARN.
• Marketplace – What’s happening in the outside world? Who are the key players? What are the market forces at work – are they playing fair or are they slowly (and possibly illegally) undermining your position. Think holistically. Get out there and mix with your peers, understand the levers that make the world go round. What is the competition doing and how do you master the game of chess with them every day?

EQ – Emotional Quotient (or Emotional Intelligence)

This is where most C-Level executives fail. What got them to this position (IQ) is now failing them. For some positions (CFO, CIO), all their hard work to make it to the table is now useless when they need to use skills other than IQ:

• Communication – Communicate clearly and concisely. But communication is a two-way street, you need to listen too.  Listening is an art – shutting your mouth (and mind) to focus your full attention to those who are giving you critical information.
• Motivation – Every word, every order, every instruction must be nicely wrapped to motivate your people. Of course, sometimes you have to bark, but if you find yourself barking most of the time, step back and see how to manipulate your direct report’s levers so they want to make things happen and not undermine you. How do you grow your direct reports, your staff, and your organization through motivation?
• Empathy – The hardest one of all – in addition to communication (which is overt), understand those signals to allow you to ‘listen in’ and help your people with their problems and obstacles. Ferret out those signals and dive into what is holding them back and help them. You also have to be patient to allow the natural flow of the company to run it’s course. Too many executives forget there are forces you cannot control.
• Sales – You have to have the ability to mix all three of these areas together and move people into action inside your organization and outside too (prospects into clients, retention and extension of current clients).

Here’s a great book to read on this topic.

What other elements do you feel play a key role in defining you as CEO material?

2015 - Essential Tips For The Year Ahead.

This will be a 'user's guide' to help you best navigate 2015 based on the current changes in the marketplace. Headline: Business life as we know it is over. Things are changing at an ever faster rate — so you need to keep up or fall behind. No sitting still or hiding.

1. The idea of keeping your head down, working hard, not making ripples and hoping for the best is gone forever. 

The world isn't over — just the opposite — there are innumerable opportunities out there. So MANY opportunities.

How? Keep your eyes peeled constantly and stay flexible with your projects. Develop a 360° view — what's happening with management, your peers and your team? You can't stay immobile for very long — keep your view and actions constant.

Read This: Extreme Mojo (Or Driving On The Corporate Autobahn).

2. Keep as many options open as possible. 

Little or no options at your disposal invites tragedy. If you have a choice, you then have a way out of the corner you just painted yourself into.

How? If you lose a client, you should have 2-3 waiting in the wings. Keep meeting new people constantly. Keep your resume up to date. Look for new opportunities at other companies.

Read This: How Safe Is Your Career Today?

3. Keep your eye on the marketplace.

Who's up? Who's down? Why? Who are the movers and shakers in the industry? Is there a way you can meet them, get to know them, become friends? How? Start following some of your favorite companies and organizations. Read industry magazines and surf their sites. A well-informed professional is a force to be reckoned with.

Read This: Without A Doubt, The Money Is Still Out There.

4. Keep learning.

Your brain doesn't have a finite amount of space — keep filling it up with new knowledge, new experiences, and new behaviors.

How? When was the last time you read a business book cover-to-cover? How often do you read and follow the Wall Street Journal? When do you meet with peers in your industry for lunch to swap ideas, insights, and stories? You need to start doing it immediately.

Read This: 8 Things I Wish I Learned In College.

5. Take stock of your habits and behaviors.

Which ones move you forward? Which ones hold you back? Which ones do nothing? Understand these habits and begin to change them — it won't happen overnight — but a slow, focused and determined process will allow you to overcome almost anything.

How? Write down some of the habits you know hold you back — procrastination, cocooning, etc. Put in place behaviors which will counteract some of these bad habits. If you cocoon (stay in your office all day) — get out and meet new people.

Read This: How To Eliminate Procrastination From Your Life.

6. Be a billboard.

There are people who want you. They want what you can do. They want your products and services. They just can't find you. How?

Read This: How To Become Unfireable: Be A Billboard.

Don't be afraid of 2015. It's imperative you buck that trend 180 degrees and embrace your future. In good and bad times, there are people out there making a lot of money and getting promotions. You can do it too.

Don't hide. Get out there and do things that SCARE you.

POST YOUR QUESTIONS OR COMMENTS BELOW

P.S. How did you like this article? Let me know. Are you interested in learning more? Let’s talk. I work with people from all over the world who need to take aggressive steps in their career — call me to schedule a test drive.

Top Five Regrets of Struggling Businesses.

This post is for all business owners — In my 10+ years of coaching around the world, I've seen it happen to many successful businesses. Most people get it, but there are a few who take their eye off the prize and let their house of cards tumble to the ground. Here are some of their regrets:

1. I should have see the change in the marketplace.

This has been a HUGE regret over the past few years. Of course we all know about the economy — but there are so many business owners who think life will just go on if they stick their head in the sand and fervently hope for the best.

First, understand what market pressures are hitting your industry — are prices going up? Hard to get materials? What's changing?

Second, develop 'What-If' scenarios for these changes — if my A clients go away, I need to tap into B clients with this strategy. Also, don't get caught up in developing strategy without taking action — if you see the marketplace changing, take action TODAY.

2. I should have seen my clientele changing.

This is the one that sneaks up on you and suddenly bites you in the butt. Maybe you lose one of your better and oldest customers, then a new one defects. Suddenly, it's a downpour of defections and you don't know what to do.

First, keep your eyes and ears open. See what's happening to your direct (and indirect) competition in the industry — are they getting hit or going out of business first?

Second, retention is a HUGE part of your client relationship. Ensure you have a healthy communication channel with your customers (see #3) and you are personally speaking with them on a regular basis. What do they like? What don't they like (people hate to ask this question)? What could you improve? If you ask these questions now, you won't lose your key customers later.

3. I should have paid more attention to marketing and promoting my business.

Face it — we get comfortable in the house we build. Clients flock to our business, we make gobs of money, and we think we have a winning formula. But life (and your marketplace) changes in a millisecond. Every sustained and successful business KNOWS the secret to success is consistent and focused marketing to communicate to your new (and current) audience.

First, assess what you're doing right now. What's working? What isn't? Ask your prospects and customers how they've heard about you. Track your marketing dollars and develop a monthly ROI trend with all the things you do to market your business.

Second, don't be afraid of abandoning a tried and true method of advertising. I've had so many clients enraptured with radio (and spending thousands of dollars a month on it) and when they did a quick calculation of its current ROI, they found it came in dead last for delivery of qualified prospects. Sometimes you need to put certain marketing avenues on the shelf for a little while and try out new directions — see what happens.

4. I should have kept my eye on the 20% who deliver 80% of my business.

In business, it seems the 80% of bothersome and small-value clients make up the monster-share of our business troubles. They're the ones who are nit-picky about everything, argue about every single penny, and are never satisfied about the final product.

First, understand who are your 20% and who are your 80%. Begin to make a persona for the 20% and go out and find more of them. Actively spend more money, marketing dollars and time to find these people.

Second, clearly define who the 80% is. And start firing them — begin from the bottom and move upwards. You don't make a lot of money from them — why spend so much time trying to make them happy? A great book to read on firing your bad customers is Book Yourself Solid by Michael Port. Great way for you to put the velvet rope in place to access your services.

5. I worked so hard and put in long hours, but it didn't matter.

Welcome to the real world Neo.Every one of my clients need to be shown the red or blue pill — and take the right one to understand you need to work smarter, not harder (or longer). Everyone thinks they need to kill themselves to 'be a success'. Understand, I know there are times when there is an emergency or the delivery of a major project — you will then need to put in the requisite time and energy. But it shouldn't be permanent — only temporary.

First, take a long hard look at how you REALLY spend your time and what REALLY benefits your bottom line. We tend to do the things we like and sometimes, these things really don't contribute much to the bottom line. I had a client, a manager of a major store, spending his time replacing florescent fixtures in the ceiling while he maintained he had no time for marketing his business permanently. I instructed him to delegate the light fixture duty and get his butt out on the street to build his clientele.

Second, be smarter about HOW you work and WHEN you work. Many people ask me how I get everything done AND have a full-book of clients (with a waiting list) all the time. I tell them I get up every day at 5 AM and get 1-2 hours of work in prior to my first coaching session. In addition, I also get up on the weekends at 6 AM and work until 8 AM (when my family gets up). If you do the quick addition, I get in an extra 14 hours of work on my business every week without impacting my regular coaching session hours. Try it!

POST YOUR QUESTIONS OR COMMENTS BELOW

P.S. Did this article hit a nerve? If so, let's talk. I've worked with many businesses who have the same questions — and we developed a successful plan to tackle their problems and obstacles. I schedule infrequent complimentary (i.e., free) sessions - catch one today.

4 Steps To Dramatically Improve Your Business.

Many business clients ask me how they can review their business and develop a simple marketing plan. There are many great books and gurus out there who will help you do this - unfortunately it takes a lot of time and effort. If things aren't working or you're not getting the same penetration you did a few years ago, you probably need to modify something in your business mix. As I've always said, "The best businesses are the ones who are nimble and flexible. When it's time to change, make that change."

I've developed a simple 4-step exercise to help you get a better handle on your business. So here goes:

1. Look at your PRODUCT.

• What are your best selling products? What are your most profitable products? Why?
• What products are growing? What ones are shrinking? Why?
• What new products can you add? What products can you modify?
• What products can you kill?
• Can you change your product pricing/packaging to reflect market shifts?

Who's buying what, when, where, and why?

2. Survey the MARKETPLACE.

• What's happening out there? Is the market growing? Shrinking? Moving?
• Are there new competitors out there? What are they doing? Offering?
• Are there new opportunities out there to develop partnerships?

If the marketplace has changed, you need to modify your efforts.

3. Analyze your CUSTOMERS.

• Who were they and why did they buy your products? Where did they go?
• Who are they now? Are they in a different area to access?
• Have their lives changed? More money to spend? Less money?
• When was the last time your reached out to your current clients?
• When have you talked to your past clients?
• When have you re-approached the prospects who got away?

You can always plan to retain and extend your clients. And get new ones too.

4. Review your COMMUNICATION.

• Did your access routes (advertising) to your customers change?
• Has your media changed? Newspaper/Magazine/Radio into Web/Groupon/Patch?
• Are you varying your messages? Different packages/price points?
• How do you talk personally with your customers/prospects?

The message is the medium and the medium has changed.

What else do you do to help you review your marketing?

You Can Be A CEO.

That's right. I'm not kidding. Today . . . this minute . . . this second . . . you can be a CEO. In fact, you always have been a CEO and always will be a CEO.

You never realized it.

You are the CEO of YOU, Inc.

And if you don't start regarding yourself that way, you'll never attain the success you deserve.

Here's the skinny — Even if you work in corporate or own your own business, you need to shift your thinking towards a more centric state of mind when it comes to work. If you are the CEO of YOU, Inc.:

• How's your stock doing? Up, down, flat? What are you doing to get it to rise?
• Who knows about your company? Do you frequently market YOU internally and externally to key movers and shakers?
• What's your message? How is it being interpreted? Is there any misinformation out there?
• Who are your competitors? How are you mitigating their threats? What are they saying about you?
• Who are your customers? What are they saying about you?
• Who are your partners? Are you educating them regularly on how they can help your company?
• How is the marketplace for YOU, Inc.? Is there a high demand for your services? Is it waning? Is it dying?
• How can you clone YOU? Delegate non-essential duties to subordinates?

The minute you make a mental shift from dutiful employee/entrepreneur to CEO status, you'll find you will focus on different areas left fallow for months/years beforehand.

And you'll start to see your new company do better and better and better. Try it. I promise you, you'll like it.

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

The Marketplace Is Changing - Are You Ready?

Over the past 3-4 years I've been watching massive changes take place in the marketplace. Some people see them, some people don't. Unfortunately, many people still act as if these institutions will go on forever. They actually disagree with me (even though they admit that the institutions are in severe decline) and come up with fanciful scenarios that somehow resurrect their position. So without further ado, here are my predictions that will change YOUR LIFE. (this is a long one - be patient!)

Music Stores

Let's start out with an easy one first. Ever since the first iPod, the writing has been on the wall with these stores. They originally handled the move from records to CD's back in the 80's easily, but now with the advent of much cheaper and faster access to music, their time is running out. As each new generational year becomes avid music listeners and purchasers, they turn more to digital and less to more expensive, less selection, and location-based stores.

The last store I went to (Cutler's in New Haven - a wonderful example of a great music store) had cut their real estate and selection in half. In addition, they had increased their inventory of DVD movies, small gifts, and iPod merchandise.

Prediction: I give this industry five years or less.

Movie Purchases & Rentals

This includes location based stores like Blockbuster and mailed-based companies like Netflix. Let's be honest — Blockbuster is toast. They have been making missteps for years now. And Netflix has been jabbing a shiv in their side to do it. Compare outrageous late fees versus renting the movie for as long as you like? It's not even fair.

Now Netflix is harder. They have a great service, incredible selection, and a broad business model. Ultimately though, the idea of mailing and receiving DVD's will become cumbersome in the light of digital transfer over the web (like they have started to do already). It's just a matter of time when they mail less and less and less.

Finally — DVD sales — it's already started. I was in Walmart the other day and saw that they cut down their DVD sales area and increased their "digital appliances" area. Most of their DVD's are at $5, in alignment with Blockbuster who is selling 5 for $20. These are the death-throes for DVD's. I don't think Blu-Ray will make a huge dent either - people are staying on the sidelines for that one too (I am).

Prediction: 2 years (Blockbuster, rentals) and Netflix mail delivery (4 years). DVD's as a format should take no more than 5-7 years to disappear.

Newspapers & Magazines & Books

This is an easy one - they are dying as we speak. If you can't get a magazine subscription for less than $10, you haven't looked very far. Newspapers are so small — advertisers are running away in droves - classifieds are gone (that was 30-50% of their revenue). The whole idea of printing, distributing, and selling paper when I have an iPhone, iPad, and MacBook - it's crazy. It's yesterday's news (catch this great Daily Show spot) that is being quickly supplanted by digital and video counterparts.

Think of students carrying the iPad - not lugging around all those textbooks. Businesspeople on planes and trains. Vacationers by the pool (whoops - maybe they'll have a waterproof one!).

Kindle. Ubook. iPad. Books . . . buh-bye! Which leads us to Bookstores . . . buh-bye! Which leads us to Publishers . . . buh-bye!  What? Publishers too?

New paradigm - authors hire editors to edit their book. The better the editor, the more expensive the service. No publishers. By the way - the idea that publishers actually 'market' the book - don't make me laugh. They only marketed it in bookstores — and oh yes, they are going away. Authors can build a bully pulpit on social media. Just like Abbey Ryan has done for her paintings on eBay. Check her out.

Prediction: Newspapers - 3 years; Magazines - 5 years; Books & Publishers - 10-12 years

Video Games (sold in stores on disc)

Akin to CD's and DVD's - their time is also short. My family are already downloading games on our iPhones (Madden football) - hopefully the iPad will accelerate the whole process. They've always been overpriced - and companies like GameStop are marketplace rip-off artists who take advantage of kids and willing parents. Hope to see them go ASAP.

Prediction: 5 years

Libraries

This is a tough one to write — but I will anyway (I'm going to hell for this one).

Have you been to a library lately? I rest my case. All kidding aside — libraries are wonderful centers of knowledge — but isn't our home or office computer a center of knowledge too? How many times have you gone to the library to find a book and it's just not there? You can place a hold on it, the person doesn't bring it back for decades, and when it finally does come back and they alert you — and your interest has waned. Libraries have tried to keep up — they've added videos and music and events and cappuccino and still these institutions are desolate (okay - there are some that do pull in the kids - but then they've turned into child care centers). You'll only find the errant senior citizen, transient, or unemployed worker. That's it.

And they cost a pretty penny to build, renovate, staff and run. MILLIONS of dollars. Add that most towns have multiple libraries coupled with every school having a separate library too and you are talking serious adult dollars here.

What would happen if everyone had an iPad? And the town digitized all books for "rental"? You can watch movies and music and do research (most good research today is also digital). Maybe the town invested in free wi-fi broadband for the entire town?

Prediction: 10-15 years tops

I know some of these predictions and assumptions might be way off - and there will be stragglers - but it's fun to put it out there and start a dialogue. So please let me know how you feel!