are you spending time in the right place

Time is Your Most Precious Resource

It is Monday.  How often does this happen? You walk into work and look at your calendar to find a series of meetings, many of which you dread. Maybe they don’t have an objective designed to get to decisions.  Maybe they are designed to share information that can be done via memo instead of a meeting. They are all time sucks that have a low return on your time.  But, because they all appear urgent, you spend your time there instead of sitting back and determining whether the activity needs to be happen or can happen a different way. The reality is, you only have so much time in a day and it should be spent on in the highest impact areas.

Time is the one thing you can’t get more of.  You can always find more money, equipment, etc.  I don’t say that lightly, because finding more of those can be hard.  But once time is gone, it is gone.   And we all have a finite clock that we work with, so where we spend our time matters. What actions are you taking to make sure you are spending your time wisely?

My new book, Leading the High-Performing Company, shares tips on how to maximize your time.

what is language telling you?

Are you listening to language?

Last week, I was speaking with a local contractor. His day had been upended by one of his people injuring himself. The individual will be fine, but getting there required spending the day in the hospital. The conversation ended with “accidents happen.”

I was horrified. He told me through his language that he doesn’t have a safety program. People will continue to be hurt because they don’t focus on how to prevent accidents from happening.

People say a lot through the words and phrases they use. You’ll find a lot about why your business is operating the way it is. Are you listening?

does your business act with integrity?

A simple repair of a costly one? That’s when integrity arises

Last week, I was driving home at 7:30 pm when a rock hit my windshield, leaving a chip. By morning, it had feathered leaving a crack about 3 inches long. That happened before and was able to be fixed. So, I went to the place that fixed it before and was told I needed to replace the windshield. Another business was able to get me in right away and fix the crack and chip in 15 minutes. The woman at the front desk was fantastic. Upbeat, polite and helpful. They were honest and had integrity dealing with me. The experience was great and I’ll definitely go back. Which business would you patronize? Do you run your business the same way?

we're different because

We’re Different Because…..

“We’re different because…” is one of the phrases I hear regularly, either directly or indirectly. But, it isn’t typically used to describe why the business is blowing away the competition. It is used to explain poor results, typically accompanied by insults or disdain aimed at the person on the other side of the conversation. Just look at Elon Musk’s Q1earnings release teleconference. It was so bad, he had to apologize in his Q2 earnings release.

The thing is, there are business fundamentals that apply to everyone, regardless of industry. When things are tough, it is natural to feel a bit defensive. Rather than push back on the question being asked, understand why the question is being asked. It is usually a valid reason and an indication something is missing in the business. The only time to use “we’re different” is to describe unusual success.

how much friction is in your business?

Is the friction in your business higher than you think?

The roads in the area are in the process of being repaved. When I moved here, they were in bad shape and have worsened in the decade since. Ruts, potholes, and rough pavement made the drive an adventure. But it wasn’t until the freshly paved lane stood next to the lane waiting to be repaved that I realized just how bad the old one was. The freshly paved lane was quiet and smooth. Switching lanes brought a significant amount of noise and vibration from the rough surface.

The thing is, things wear down over time. They don’t work quite as well. The friction increases. And it isn’t until they are fixed that you realize how bad it was. That’s why it is important to have measures in place to signal when it is time to make a change. If you go by feel alone, you’ll miss when it is time to pull the trigger. How are you measuring the friction in your business?

the sunk cost dilemma

The Sunk Cost Dilemma

Last week I called “customer service” to resolve an a billing error. It should have been a very simple fix. I thought I’d be on the phone for no more than 10 minutes. An hour later and 4people, the issue was resolved, kind of. I was mad I wasted an hour of time on such a small issue. Once I was on the phone, I didn’t want to hang up as I was transferred from person to person. I had already invested a lot of time. Surely, the issue would be resolved in a few minutes. It was the classic sunk cost dilemma.

In business, we keep investing in products, services, capital, facilities, etc. because we think it will just take a little more time and money to achieve the results we want. But sometimes continued investment is not worth it. There comes a point when you are just throwing good money after bad. That is when you need to recognize the costs are sunk and should not be the reason to continue investing.

Do you have a method for evaluating whether continued investment is warranted? How do you get out of the sunk cost dilemma?

the most you will ever get is what you ask for

The Most You Will Ever Get is What You Ask For

Years ago, one of my Rice University classmates made a statement that stuck with me. She said: “the most you will ever get is what you ask for.” And she was right. So often, we are afraid of hearing “no” in response to our request. But the thing is, if you don’t ask, you won’t get what you are looking for. So, why not just ask?

the subtle art of saying no

The Subtle Art of Saying No

Saying no seems easy. But for many people it is not. I regularly work with people who have too much on their plate. They haven’t said no, whether in their work life or home life, and are overextended. By not saying no, stress levels increase, the most important work doesn’t get done, or other people are robbed of developmental opportunities. In some cases, not saying no leaves other people hanging.

The most successful people I work with have figured out the subtle art of saying no. The person on the receiving end of the “no” understands and walks away understanding why, and respecting the response. And the person who said no is able to focus on the most important things.

Have you mastered the subtle art of saying no? If not, what is holding you back?

what surprises are lurking in your business

What Surprises Are Lurking In Your Business?

Summer means road construction in the Pacific Northwest. In preparation, the transportation department placed electronic signs along the road indicating when night paving would start. Then one day, the sign flashed HELLO. Clearly, a prankster was having fun. But the sign no longer communicated an important message.

Change happens all of the time in business, sometimes in unexpected ways. And when that happens, leaders may be unaware of what is actually going on in their business. How do you ensure what you intend to happen in your business is actually happening?

thank you

Are you saying thank you enough?

I recently sent a note of thanks to a woman who was instrumental to the success of an event I attended. She spends a lot of time behind the scenes making sure that people have a wonderful experience. I noticed and shared with her how much I appreciated what she did. Her response was lovely—and surprising. Based on what she said, it doesn’t appear she hears thank you for all of the good work she does.

A sincere thank you with the specifics of what you appreciate can go a long way. It can make a person’s day, week or month. How can you thank someone today?