Startups in uncertain economic times
October 6, 2008 by junaid
Yes it can work. In fact, most startups thrive on times like these. *melodramatic on* it’s times like these that true business heroes come to the party, seperates the contenders from the pretenders *melodramatic off*
South Africa has HUGE potential, sure the US economy is falling apart but thats life, its a circle – you have your ups and you can be certain that you’ll have your downs. Take it as it comes, be consistent and dedicated and it will work.
I’ve seen it before and I’m sure I’ll see it again.
Whenever a business cycle starts to falter, the media start wringing their hands. Then big businesses do, freelancers, entrepreneurs and soon everyone is keening.
People and organizations that have no real financial stress start to pull back, “because it’s prudent.” Now is not the time, they say. They cut budgets and put off investments. It’s almost as if everyone is just waiting for an excuse to do less.
In fact, they are.
Growth is frightening for a lot of people. It brings change and the opportunity for public failure. So if the astrological signs aren’t right or the water is too cold or we’ve got a twinge in our elbow, we find an excuse. We decide to do it later, or not at all.
What a shame. What a waste.
Inc. magazine reports that a huge percentage of companies in this year’s Inc. 500 were founded within months of 9/11. Talk about uncertain times.
But uncertain times, frozen liquidity, political change and poor astrological forecasts (not to mention chicken entrails) all lead to less competition, more available talent and a do-or-die attitude that causes real change to happen.
If I wasn’t already running my own business, today is the day I’d start one
5 Barriers to Team Success
September 21, 2008 by aladin
Highly effective teams can achieve extraordinary results for the organisations that they serve. Achieving success for the organisation leads to greater personal success, and achievement. Yet in truth, team success is not guaranteed. So what are 5 common barriers to team success and what can you do to avoid them?
Barrier 1: Fuzzy outcomes
If a team is to prosper and deliver results, it needs to be crystal clear about the results or outcomes that are expected to be delivered by the team. Too often teams are set outcomes that are fuzzy and vague which unsurprisingly leads to little in terms of results. Make the outcomes specific and measurable. For example, reduce waste from product X by 10% by 31 December 2008 is both specific and measurable.
Barrier 2: Unproductive conflict
All successful teams need to have challenge and conflict otherwise it all becomes too cosy. On the other hand, it is important to ensure that conflict is productive rather than destructive or unproductive. Lively and heated debate that actually results in a better outcome or solution is an example of productive conflict. Challenge that focuses on all of the negatives without offering any alternatives is unproductive.
Barrier 3: Playing it safe
Making a step change in performance or turning things round requires teams and team members to take some risk and step out of their comfort zone. This will only happen if the culture within the organisation supports and rewards this type of innovative and balanced risk taking approach. For example, if the culture is to look for scapegoats when things go wrong, people will keep within the safety boundaries rather than taking a chance.
Barrier 4: Individual agendas
If a team is to prosper, all members need to sign up to and be committed to the team goals first foremost. For many this is particularly challenging as in business, we are used to being concerned about our own individual situation. Creating a reward system that relies on the group can be a useful stepping stone to encouraging teams to focus on the team agenda.
Barrier 5: Leadership
In teams someone has to take on the role of the leader. A team without a leader is like a ship without a captain. The team might select a leader or as the team develops someone may emerge who is the natural leader. However, any successful team needs a leader.
Bottom Line – Teams can achieve great results but it is essential that the barriers to team success are identified and addressed. So what barriers are getting in the way of your teams success?
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Duncan Brodie of Goals and Achievements (G&A) works with individuals, teams and organisations to develop their management and leadership capability. With 25 years business experience in a range of sectors, he understands first hand the real challenges of managing and leading in the demanding business world. You can learn more about Duncan, Goals and Achievements services and products and sign up for his free e-course and newsletter at http://www.goalsandachievements.co.uk/ |
Negotiate Sincerely But Know When to Bailout
September 14, 2008 by aladin
Too many times, people put too much time and effort into a negotiation that’s going nowhere. There are inheriting problems in putting too much time into a negotiation that’s not moving in the right direction. The more time and effort you put into a negotiation, the more psychologically committed you become in seeking a successful outcome. In the process, at some point, you’ll run the risk of making decisions with a clouded perception.
How then might you know when to exit a negotiation that appears not to be progressing in a meaningful direction? The following are insights …
Negotiation Situation: You’re accommodating when it comes to making concessions, but find the more concessions you’re asked to make, the more concessions you’re asked to make.
·      Be aware of the negotiator that attempts to continuously squeeze you. In a negotiation situation of this nature, be aware of the negotiation road upon which you’re traveling. When making a concession, get a concession. Concessions don’t have to be on a one for one basis, but don’t get too far out of sync. If the other negotiator consistently asks for concessions and you don’t get concessions in return, you could be setting yourself up for a lot of wasted effort. The other negotiator could simply be ‘pushing you’ in order to make you exit the negotiation so he can ‘save face’, or for some other unforeseen reason. He may be in a position whereby he can’t deliver on what you’re seeking from the negotiation, or tying to maximize his return at your slanted disadvantage. [Read more]
The Successful Practice of 5S
September 7, 2008 by aladin
Wastage could be loss of time, loss of interest, loss of materials required and so on. A good solution to this can be achieved from the practical approach that 5S provides.
Lean Six Sigma practitioners have faith in it as a culture that aims at continuous improvement of the working environment and the work conditions. The philosophy is applicable to any aspect of life. 5S refers to the five structured principles of seire, seiton, seison, seiketsu and shitsuke.
Translated, they mean sort, systematize, sweep (shine), standardize and self-discipline. All these terms are self-explanatory. Even if you take them in a daily simple scenario of tidying up your home, you will find that you are doing the same thing.
The first thing that is done is a sorting out of all items. They should be arranged systematically or categorized. Then the entire area needs to be cleaned. [Read more]