Better Under Pressure Brings Out Your Best

Better Under PressureIf you listen to the press conferences after a NBA playoff or finals game each year, a marquee player always reveals how his play is amped up compared to the regular season.  But how does one really perform at a champion level? There’s ambiguity in a game – a key player’s injury can redefine a team’s chances to win. In business, leaders are surrounded by ambiguity. Just ask Carlos Ghosn, the Nissan/Renault CEO who ran two car companies during the ambiguity of a world economic struggle.

In sports, in business or in life, why do some people rise to the occasion while other struggle? Is it luck or something more?

Better Under Pressure: How Great Leaders Bring Out the Best in Themselves and Others is by Justin Menkes, a leading executive consultant for Spencer Stuart and author of Executive Intelligence: What All Great Leaders Have. I received a review copy from Harvard Business Review, and dug into a great breakdown of the qualities one should develop to grow a business under stressful conditions.

Learn what it takes to manage in an uncertain environment

The image of coal and diamonds on the book jacket is appropriate. As you probably know, diamonds are created over time by shifting pressures in the earth. Menkes asserts that a dramatically shifting workplace, expressed as a result of economic uncertainty, has a similar effect on forming leader wisdom and experience:

“The new paradigm for leadership becomes a fluid virtuous cycle of exchange and growth between leaders and the people they lead.”

As a rebuttal to the aforementioned cycle, Menkes describes the three cornerstone catalysts needed to be successful:

  1. Realistic optimism – confidence about actual circumstances without delusion or irrationality
  2. Subservience to purpose – the consideration of how you contribute to the further efforts to achieve a goal
  3. Finding order in chaos – finding invigoration in complicated problems, leading to meaningful solutions

It’s the third point that may be most directly helpful to small businesses. Menkes offers perspective on maintaining clarity of thought when a million things needs to happen at once. Sound familiar, small business owners?

Menkes shows examples of each tenet in action, including an example of execs who successfully manifest all three tenets. Dave Dillion, CEO of Kroger, is mentioned as having identified a trend during an offsite retreat with employees and vendors.  It would have been overlooked had there been no moment of clarity available.

What you may want to read again and again in Better Under Pressure:

  • A brief evaluation of your own level of realistic optimism
  • What the thought process of success entails in “Learning How To Realize Potential”
  • “Maintaining Clarity of Thought”
  • The value of intelligence tests – understanding what is essential to think clearly, including a segment about making adrenaline your friend

This book is naturally rich with insight and free of verbose jargon. Menkes offers intriguing ideas about separating frustration from ego-crushing shame, which impedes the real need: the commitment to manage business challenges.

“Failures do elicit a feeling of deep frustration in masters of today’s competitive climate, but these downfalls do not elicit shame. Shame reflects a deeper uncertainty about your own competence and is much more threatening to your sense of stability. If you feel the recurring shame about your failures, you ignore their existence altogether. This defense mechanism is useful in protecting your short-term sense of self esteem, but …you no longer have the opportunity to face your challenge and ultimately conquer it.”

The insights will become a personal guide for reflection about your business and your place in the business world.

Learn how some common beliefs may not be useful to face real pressure

Menke debunks a number of commonly shared beliefs, not to just propel his own thesis, but to debunk them in a thoughtful, eye-opening way. An example on the idea of life balance is not meant to turn folks into workaholics, but to help them realize their potential.

“On the contrary the happiest and most satisfied people tend to spend the majority of their time and energy in effortful activities, not leisure. This is because self-esteem can only be generated by distinguishing yourself through purposeful work…When you believe strongly in the importance of your enterprise, there’s nothing you’d rather do than pursue it.”

This is my favorite comment, because it, along with other passages will have you constantly assessing your actions against your reality, which is the point of Menke’s observation of how leaders tap into each of the three catalysts examined. According to Menke, they delve into the catalysts “in a recursive fluid way so that it isn’t always easy to tease apart where one ability ends and another begins.”

Better Under Pressure compliments books like Clutch, but with examples more specific to organizations other than professional sports.  Even if you operate a one-person small business, it will give you a blueprint for how to conduct your best performance under pressure.

From Small Business Trends

Better Under Pressure Brings Out Your Best

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3D Brings It Home

As big a fan as I am of your superhero/cowboy vs. aliens/evil scientist summer blockbuster, I absolutely despise the 3D technology that I’m supposed to enjoy them in.

When 3D first made its comeback a few years ago it was like visiting an old friend again. “Well if it isn’t 3D! I haven’t seen you since ‘Son of Sinbad’!”

But now 3D is that relative who comes for a visit and can’t figure out when to leave. “So, 3D, big day tomorrow. Yep, gotta get up early. Gonna be a long day for everyone, I bet. Yawn….”

The nice thing about being a cartoonist is you get to poke fun at these things in a public, yet more or less anonymous way. After all, I don’t want to hurt 3D’s feelings. (I just want 3D to go home.)

From Small Business Trends

3D Brings It Home

View full post on Small Business News, Tips, Advice – Small Business Trends

Place Search, Brings Local Search to the Forefront

Have you preformed any Google searches lately? If so, you may have noticed a big difference in the overall appearance of the SERP (search engine results page). Last week, Google rolled out Place Search which Google deems as “a new kind of local search result that organizes the world’s information around places”.

Here are what the new SERP layouts look like when you are searching for local businesses and places:

This all revolves around Google Places (formally known as Google Local). Google Places is a free area on Google where you can list your local business, supply important information about it e.g. phone number, hours of operation, services, and be listed in Google Maps while you’re at it. Did you notice how the Google Places section is now full size, has thumbnail photos, and red pins? They’ve moved the map way over to the right hand side too. How could we ever miss one of those listings?!?

Did I mention that Google Places now totally dominates the first half or more of the page? GP allows a maximum of seven listings on the first page. This makes local search more important than ever before.

With more and more  people using their Smartphones to search, Google really had to step up and cater to this important segment of the population. I have written in previous blogs, the importance of mobile marketing/geo-location marketing, it all ties in together and is the future of marketing in general. If you don’t believe me, then believe Google – they’ve just changed the entire layout of their page to appease local search.  That’s a very loud statement folks!

What does this mean for you? Well your main goal as a business would be to make sure that not only is your website ranking high in organic search, but that your business is listed in Google Places and is correctly optimized so GP sees it as more important/relevant than the other 50+ local businesses you are competing with.

Your website is optimized..what about your Google Places listing? If you’re not sure or would like one of our Local Search Specialists to take a look at it, you can contact .Com Marketing at 1.866.266.6584.

View full post on .Com Marketing Blog | Internet Marketing Trends | Interactive Marketing

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The Downturn Brings Out the Dark Side of Being a Franchisor

If you’re thinking of franchising your business, first consider the story of 18-year-old Seattle fast-Mexican franchisor Taco Del Mar. After solid success with its fun, Baja-style burrito concept, the company franchised and exploded in size to 225 restaurants by 2008. 

But then, everything changed for the budding chain founded by brothers James and John Schmidt. The company, including 22 corporate stores, went bankrupt earlier this year and was sold off for a paltry $3.5 million this month.

I’ve been following the Taco Del Mar story for more than a decade. You had to root for a scrappy Mexican chain from the unlikely Northwest with fun branding — “discover your inner Baja!” ads exhorted — and delicious, affordable quick-serve food that was a serious cut about the big burger chains in quality. My kids beg to go there over McDonald’s, any chance they get.

The brothers made some missteps along the way, at one point adding their first stores outside Seattle all the way out in Boston. That flopped, and the company regrouped. Then they became a franchisor, and began slowly adding units fanning out from headquarters. All seemed to be going well.

But along the way, the pace of handing out franchises got too fast. Iffy locations were chosen and subpar franchisees were signed.

Eventually, the economy tanked. Taco Del Mar was tripped up by a facet of franchisor operations I bet many of the hard-sell franchise packagers out there don’t explain to companies looking at franchising their business. 

It’s this: Often, to get a first-time business owner into a fast-food restaurant lease, the franchisor has to guarantee the lease. To get the franchisee a bank loan to fund the restaurant construction, the franchisor has to either offer financing or guarantee the loan.

This usually doesn’t matter much — in good times, the restaurants flourish. If there’s a couple of bum franchisees, the company takes back the store as a corporate unit and then often resells or “refranchises” it. In good times, a chain can make mistakes, the restaurants keep operating and the lease goes back to being a franchisee’s responsibility. There’s no big hit to the corporate bottom line.

All of a sudden, in 2009, Taco Del Mar had scores of restaurants that weren’t making it. Buyers to take over the restaurants were scarce. 

And the company was on the hook for all the leases. Legal costs mounted as landlords sued TDM for unpaid rent on leases for now-closed or floundering franchisee stores — and the landlords won. TDM’s guarantee was in their contract, after all. Judgments piled up.

All of which led to the outcome — the Schmidts lost control of the great concept they dreamt up. If they’d stayed a company-owned, smaller regional chain, they might well still be thriving today. But the siren call of becoming a national chain hit drew them to try for the big time, and lured them onto the rocks.

Of course, Taco Del Mar is far from the first chain to file for bankruptcy in bad times. Denny’s, Boston Market, and Mrs. Fields have all made a trip through Chapter 11. But they were able to reorganize and continue.

For TDM, debts of up to $10 million were too much to overcome.

The good news for fans of TDM is most of its stores live on. The brand is now owned by Franchise Brands, a multi-brand franchise company designed to help Subway franchisees diversify their eateries. 

But it’s a sad ending to what could have been a great entrepreneurial story — and a cautionary tale for those with dreams of becoming a national-franchise powerhouse.

View full post on Entrepreneur.com – Daily Dose

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WiseStamp Brings Your Email Signature to Life


WiseStamp Brings Your Email Signature to Life

This content from: Duct Tape Marketing

On the spectrum of really big marketing tactics, the email signature isn’t terribly sexy, but this little touch can say a lot about what you do and how you connect.

If you’re like me, you send a lot of email so why not make sure your email signature is working in the background for you. This doesn’t mean you need flashing lights and honking horns, but you should supply recipients, even those that contact you often, with all the necessary contact details, including social profiles, so that you are easy to connect with.

Creating an email signature, while not that technical, can take a little work and may even be limited on services like GMail. WiseStamp is a browser plugin (Firefox, Chrome, and Safari) that makes the act of creating multiple, highly engaging email signature profiles very easy. This free addon allows you to create rich HTML text, add images, add social profiles and even add applications such as your last tweet, your last blog post, or your latest eBay listing.

The signatures work in Gmail, Yahoo Mail, AOL Mail, and WindowsLive. Once you download and install the plugin you will see a WiseStamp option in your mail. The first step is to create your signatures using the simple online editor, connect your various social profiles and applications, and save your profiles. You can then toggle between personal and business signatures as needed.

Since this is a free application the default setting adds a little promo for WiseStamp at the bottom of your signature. You can remove this by opening setting and clicking that option off. On that same screen you’ll be given the option to make a donation. I recommend throwing a little coin to the creators of this nice tool. It’s good karma and it’s what makes the free app world such a cool place to hang out.

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