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The Best Bosses Don’t Have All the Right Answers

Some mornings when I’m getting ready for work, inspiration for a blog post hits me so I send myself a brief outline of the idea.  This morning I was thinking about how it’s impossible to always know what to do or to have the answer ready when someone comes asking questions.  Some bosses try to fake their way through the conversation.  That’s the wrong way of course. The right way is to say “I don’t know, but here’s what we can do to find out…” or something along those lines.

It turns out this approach is backed up by recent research from Stanford confirms that “the less assured expert prompted higher ratings than the certain expert.”

By the way, this was the snippet that I emailed myself.  The thought was about how you should be open to new ideas and ways of working.

The boss doesn’t always know what’s best and that’s a good thing. Progress is made with new ideas and new initiatives.  This requires new thinking. Always keep an open mind to suggestions because that one idea you’re so adamantly against just might be the next big thing for your company.

Net, net, what I’m saying is that you shouldn’t be expected to have all the answers, all the time – and you’ll actually achieve more because you don’t know everything.  That was the first part of my post.

The thought I had this morning centered on the fact that you should be open to new ideas and ways of doing things.  Your direct reports will respect you more, be more fully engaged with their work and you’ll accomplish more as a team.  That’s pretty cool stuff, all because you have the humility and confidence in yourself to be okay with not knowing all the answers, all the time.

Side Note: In searching for the answers, you never know the fun and interesting stuff you’ll come across, learn and use from this point forward in your life.  Now that’s really cool, don’t you think?  Learn, explore, delegate, have fun, empower others, all because you said the simple phrase “I don’t know.”

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The “Never Trade You In” Boss

What kind of boss are you?
Do you even know?

Two interesting questions and here’s one more: would your direct reports ever “trade you in” for another boss?

In short, are you delivering the goods?  Are you the kind of boss that people want to work for?

No, this is NOT about being an understanding boss or super-friendly with your team.  While these personality type things are great, it’s about providing an atmosphere of trust and support for your direct reports.  It’s about being the type of boss that pushes them to higher levels in their pursuit of their craft.

It’s about not being an asshole, too, but you’ll find that you can be tough and lean on them as long as you’re doing it when it counts and they need you the most.

I could go on and on about this topic, but hopefully you’re getting the gist of what I’m sharing with you…being a great boss is about creating an environment of mutual respect, that wonderful place where you are developing and growing your people and helping them and work just doesn’t seem like work to them. 

Do this for your direct reports and you’ll find people running to be on your team whenever there’s a vacancy on your team.  That’s when you know you’ve gone from “run of the mill” boss status to “never trade you in” boss status.  It’s a worthy goal, don’t you think?

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Salami Slicing and Market Share Woes

I was going to publish this post yesterday, but thought it a little too inflammatory.  I hesitated, but after reading Seth’s blog post this morning, I felt like I had to finish the post and publish it for you to read and influence the way you think about your business.

I had a conversation with a friend the other day and he was complaining about how he no longer buys one of his favorite products.  He absolutely loved this product and used it weekly, until one day he noticed something was off.  He figured it was a bad batch or something, so he bought it again.  Same results.  He gave it one more try before giving up and buying another brand.  Most brands don’t get three tries.  How many will yours get?

So let’s bring this around to you.  How’s your product or service doing in the market?  If your market share (or sales if you can’t easily track your shares) are declining, here’s why in a nutshell.  Want to take a guess?

No, it’s not the economy.

No, it’s not the brilliant advertising of your rivals.

No, it’s not the hot upstart competitor.

It’s because your product SUCKS.

Salami slicing.  In two words this is what’s meant when companies take cost out of their products.  It’s a great way to boost margins and make more money.  It’s also a great way to lose market share over the long-term if you’re not careful.  I would argue that your product is even more important than how many fans you have on Facebook or if your advertising is winning any awards.

Yes, advertising is going new school with social media, but word of mouth and taste of mouth trumps all.  Invest in your product and blow away your consumers.  Offer a service so outstanding that your customers can’t help but tell someone else about and you won’t have to worry about market share ever again.  Your competitors will salami slice their products soon enough and your old customers will come running back to you.

On the cheaper product front, Seth makes a great point:

“Cheaper is the last refuge of the marketer unable to invent a better product and tell a better story.  The goal, no matter what you sell, is to be seen as irreplaceable, essential and priceless. If you are all three, then you have pricing power.”

In addition to pricing power, you have created a great brand in the process.  That better story, backed up by a product that truly delivers what it promises leads to consumer loyalty and strong market share.

Focus on creating a great product, create that wonderful brand story and then refuse to compromise when the finance folks come looking for margin.  A little snip here and a little snip down the road will end up with a shitty product you couldn’t get your mom to buy, not to mention eroding market shares.

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Fail, Fail, Fail, Fail, Fail….

Failure isn’t fun.  Actually, it sucks.  No one likes to fail.  I’m sure you don’t like to fall short of one of your goals.

The good news is that failure is part of the success equation.  As Model T boy once said…”Failure is only the opportunity to begin again, only this time more wisely.”

Simply put, failure is an opportunity to learn and improve your approach to whatever it is you’re trying to achieve.  The key when you fail or hit some speed bumps is to keep your eyes on the prize, your end goal, yada, yada, yada.

You get the point.  Read any success story and you’ll find they failed at something (often many things), but they didn’t let it get them down.  They kept their focus and kept charging ahead.  If you are encountering some difficulties, you and you alone determine whether you’ll get up from your failure or not.

I’m hoping you don’t let any short-term failures define your future.  Focus on that very bright future of yours and continue to go for it!

“Entrepreneurs average 3.8 failures before final success. What sets the successful ones apart is their amazing persistence.” – Lisa M. Amo

“Fall down seven times, get up eight times.” – Japanese proverb

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Turning HARD WORK into Fun

HARD WORK is not fun. It has the word “WORK” in it, so how can it be fun, right?  Not so fast.

Well, for most people it’s not fun, but there are those entrepreneurs and successful people who love their jobs and are fulfilled.  These people never got the memo that said that work wasn’t supposed to be fun.  It’s like they’re a reincarnated Tom Sawyer, laughing along while other people paint the fence for him.  Well, maybe not quite that, but you get the point.  Everyone knows someone who loves their job…and gets paid well to do it.

People never get the memo that says that work can be fun and engaging and fulfilling, so why not write the memo yourself?  No, not literally unless you want to have your own Jerry Maguire moment.

Write your memo with your actions and even your words.  Write your memo by the way you push back on your boss on critical things that bug you.  Write your memo with the great work that you produce.  Eliminate the non-essential work as much as possible.  Lead the charge in outsourcing the mindless work in your department.  Push to change the “way things have always been done” in your organization.

Just remember that HARD WORK isn’t always fun, but it’s always rewarding.  Put the hours in, but focus on the RIGHT things instead of doing everything.  Save the “Everything” for the Doing Machines.

Focus on applying your passion and energy to making a dent in the universe and you’ll find like all those successful entrepreneurs and superstars that you admire that you can have fun and work hard at the same time.

“Striving for success without hard work is like trying to harvest where you haven’t planted.” – David Bly

By the way, do you think HARD WORK isn’t necessary to become a success?  Even the 4 Hour Workweek guy thinks it’s important…

“I have nothing against hard work, as long as it’s applied to the right things. For most people, that means doing basic things like time audits and seeing where you spend your time online and on the computer. It’s not unlike calorie counting. People are poor judges of how much time they spend on various tools, and if you measure it, it can really result in some big changes.”  – Tim Ferriss, Author of The 4 Hour Workweek

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