Archive for Leadership

Practical Advice on Honing Your Niche

I often come across brilliantly written articles that need to be shared. This article by Tony Bodoh speaks to honing your niche and if this is something you have not yet done, this article will be very helpful to you in creating a strategy that will get you where you need to be in the process.

Enjoy!

By Tony Bodoh
April 29, 2010

Define Your NicheRecently, during my introductory niche-building strategies sessions I’ve found myself focusing on three main points. Today I am going to share the most important of these points with you. Of course, this is generic in form because each business is different and requires a more in depth interview for a specific prescription of action steps. This system is also effective, no matter how large or small your business is.

The system I will describe below has its roots in Lean and Theory of Constraint process improvement methods. It is also the system I used successfully when I was managing the guest and meeting planner loyalty programs for Gaylord Hotels and Gaylord Entertainment.

Gaylord had 8,000 guest rooms, nearly 50 restaurants, dozens of retail shops, live entertainment venues and nearly two million square feet of meeting space. The method I describe below is the framework (although not the specific details) that allowed Gaylord to sustain record growth in it’s loyalty scores while the rest of the industry was attempting to weather the economic storm.

How can you continue to hone your business niche and grow your profitability, regardless of economic conditions?

The answer is deceptively simple. Ask your customers what they liked most about their experience with your product or service. The answers you receive are worth gold if you use them properly.

First, document the answers. Using the customers’ own words are critical for this, so plan to use a system of comment cards, emails, text messages or voicemail messages. There are a variety of low cost recommendations I can offer in a future post.

Second, identify key data elements. Consider what data you can capture with your information systems or simply by reviewing the transaction data. These data points will help you later.

Third, review the customer comments frequently. You will want to determine which comments should be acted upon immediately and which ones should be part of a larger change to your company’s strategy.

Fourth, once you have a sufficient number of comments, start to analyze the patterns in your information. As yourself questions such as, “What are the key elements that are frequently repeated?” and, “Do these elements show up in specific situations, such as with a particular employee, or are they indicative of the brand that is emerging?”

Fifth, determine if the processes, training and resources are in place to make an experience repeatable. If so, move to the next step. If not, build a plan and execute a change program with the intention of building a repeatable process.

Sixth, incorporate forms of these comments into your marketing statements and materials.

This process will help you offer a promise to prospective customers which you can repeatably deliver and which inevitably results in their satisfaction and loyalty. In addition, they will recommend you more frequently to their friends who want to have a similar experience. The virtuous cycle of feedback, operational or training changes and marketing integration will cause the attraction of your perfect customers and over time will distinguish your brand from the alternatives in the marketplace.

If you would like expert guidance on how to specifically implement this virtuous cycle in your business, send me an email (tony@tonybodoh.com) and we can arrange a niche-building strategy call. Don’t wait too long. I may be strategizing with your competitor today!

Categories: Leadership

The Top Ten Leadership Qualities

I often come across blog posts or articles that just need to be shared. This terrific article on leadership by David Hakala is one that I think will resonate with many. I would love to hear your comments on this post.

The Top 10 Leadership Qualities, By David Hakala on March 19, 2008

Leadership can be defined as one’s ability to get others to willingly follow. Every organization needs leaders at every level. Leaders can be found and nurtured if you look for the following character traits.

A leader with vision has a clear, vivid picture of where to go, as well as a firm grasp on what success looks like and how to achieve it. But it’s not enough to have a vision; leaders must also share it and act upon it. Jack Welch, former chairman and CEO of General Electric Co., said, “Good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion.” 

A leader must be able to communicate his or her vision in terms that cause followers to buy into it. He or she must communicate clearly and passionately, as passion is contagious.

A good leader must have the discipline to work toward his or her vision single-mindedly, as well as to direct his or her actions and those of the team toward the goal. Action is the mark of a leader. A leader does not suffer “analysis paralysis” but is always doing something in pursuit of the vision, inspiring others to do the same.

Integrity is the integration of outward actions and inner values. A person of integrity is the same on the outside and on the inside. Such an individual can be trusted because he or she never veers from inner values, even when it might be expeditious to do so. A leader must have the trust of followers and therefore must display integrity. 

Honest dealings, predictable reactions, well-controlled emotions, and an absence of tantrums and harsh outbursts are all signs of integrity. A leader who is centered in integrity will be more approachable by followers. 

Dedication means spending whatever time or energy is necessary to accomplish the task at hand. A leader inspires dedication by example, doing whatever it takes to complete the next step toward the vision. By setting an excellent example, leaders can show followers that there are no nine-to-five jobs on the team, only opportunities to achieve something great. 

Magnanimity means giving credit where it is due. A magnanimous leader ensures that credit for successes is spread as widely as possible throughout the company. Conversely, a good leader takes personal responsibility for failures. This sort of reverse magnanimity helps other people feel good about themselves and draws the team closer together. To spread the fame and take the blame is a hallmark of effective leadership. 

Leaders with humility recognize that they are no better or worse than other members of the team. A humble leader is not self-effacing but rather tries to elevate everyone. Leaders with humility also understand that their status does not make them a god. Mahatma Gandhi is a role model for Indian leaders, and he pursued a “follower-centric” leadership role. 

Openness means being able to listen to new ideas, even if they do not conform to the usual way of thinking. Good leaders are able to suspend judgment while listening to others’ ideas, as well as accept new ways of doing things that someone else thought of. Openness builds mutual respect and trust between leaders and followers, and it also keeps the team well supplied with new ideas that can further its vision. 

Creativity is the ability to think differently, to get outside of the box that constrains solutions. Creativity gives leaders the ability to see things that others have not seen and thus lead followers in new directions. The most important question that a leader can ask is, “What if … ?” Possibly the worst thing a leader can say is, “I know this is a dumb question … “ 

Fairness means dealing with others consistently and justly. A leader must check all the facts and hear everyone out before passing judgment. He or she must avoid leaping to conclusions based on incomplete evidence. When people feel they that are being treated fairly, they reward a leader with loyalty and dedication. 

Assertiveness is not the same as aggressiveness. Rather, it is the ability to clearly state what one expects so that there will be no misunderstandings. A leader must be assertive to get the desired results. Along with assertiveness comes the responsibility to clearly understand what followers expect from their leader. 

Many leaders have difficulty striking the right amount of assertiveness, according to a study in the February 2007 issue of the Journal of Personality and Social Psychology, published by the APA (American Psychological Association). It seems that being underassertive or overassertive may be the most common weakness among aspiring leaders. 

A sense of humor is vital to relieve tension and boredom, as well as to defuse hostility. Effective leaders know how to use humor to energize followers. Humor is a form of power that provides some control over the work environment. And simply put, humor fosters good camaraderie. 

Intrinsic traits such as intelligence, good looks, height and so on are not necessary to become a leader. Anyone can cultivate the proper leadership traits.

Categories: Leadership

A New Community Of Hope Formed!

As you know, I am a passionate advocate of utilizing biblical principles and Christian faith as a guide for success in my life. Toastmasters has been a very important part of my personal and public life and I wanted to share an article that shows so clearly just how amazing and important speech, communication and community are.

In Today’s Time of Despair, Fear, and Economic Uncertainty Two Women Offer Free Career-Building Workshops: “Pursuing Your Professional Dreams”

As the saying goes, it’s takes two to tango. How did she know? A year ago, Ruth Robbins, a noted career management consultant in Manhattan and a certified career coach, was conducting a weekend career workshop at the Riverside Church. Only 6 people were in attendance, so she thought to herself, we’re in the midst of an economic crisis, I’m offering this workshop for free, and where are all the people?

As the workshop progressed, she overheard a colleague, talking about a new, non-profit group that had just formed called TORCH (Toastmasters of Riverside Church). Immediately, Ruth asked to be put in touch with one of the founder’s of TORCH, Theodore Henderson, and learned that four times as many people attended TORCH on a weekly basis, as had shown up at the weekend career workshops. Could a partnership with Toastmasters be the key?

Theodore Henderson listened to Ruth’s pitch and agreed that a series of career workshops would bring value to the non-profit TORCH community. TORCH facilitates the development of communication and leadership skills. TORCH agreed to host the workshop series.

Ruth designed a workshop series, especially for this group, using the proven approach to developing a successful and fulfilling career strategy, developed by The Five O’Clock Club (a national career coaching group, with strong community service commitment). Ruth took this community  service commitment a step further by offering a one time pro bono workshop series of fun, high impact meetings, covering assessment, positioning, resume tips and secrets to effective networking.

Here we are a year later, we’re doing the tango. With attendance so high, Ruth asked, Michele Wood, Executive coach and business consultant in Westchester County, to partner with her on the topic “selling yourself to your target market”, a discussion which involves appropriately introducing yourself and identifying the most appropriate opportunities to pursue. Michele is a member of the Riverside Church who is also affiliated with The Five O’Clock Club.

As the sessions progressed, a greater sense of community emerged among the participants. The first phase was a sense of hope and camaraderie. One of the participants reported, following session number two, that she got  a small job as a result of positioning herself better, and feeling that she had a brighter future and with more viable possibilities. The next phase was one of excitement, as participants began to see steps that they could take to reach their professional dreams. During this phase, one of the participants realized her own passion for coaching and is now looking at pursuing that as a career.

In the final phase, people were experiencing the value of career coaching and exploring ideas to continue weekly sessions. We look forward to partnering on this once again as part of our philanthropic plan. As a result of this partnership and these sessions, a mutually supportive community is emerging in this time of despair and economic uncertainty and fear.

Written by Michele D. Wood
Edited by Luvon Roberson