Business Communications

All posts tagged Business Communications

Transition - WCP 2014

Strength Through Diversity & Change

Diversity and Change are catalysts to growth and development, to new ideas and to improvement throughout the world in which we live. Darwin’s evolution of the species demonstrated how through diversity and change the world is able to constantly evolve and improve.

Why then are so many of us suspicious of both diversity and change, why do we fight to protect the status quo? Is it as simple as a fear of the unknown? It brings to mind Franklin D Roosevelt’s famous speech “….the only thing we have to fear is…fear itself”

If we are to get the best outcome from any human endeavour we require continuing diversity and change at all levels. Diversity of age, experience, education, gender, race, outlook and expectation, imagine a team encompassing such diversity tackling the big and complex issues within your business. Can you envision the team’s potency and its potential to drive change?

Increasingly business is global, multi-cultural and can no longer assume the gender of decision makers on either buy or sell side transactions. Successful teams and organisations need to reflect this diversity and change to embrace it.

Managing change requires both vision and courage but the rewards are enormous, when we think of Apple today we think of iPhone’s and iPad’s first and computers second. This reflects their ability and capacity to change and yet it still overlooks their leading edge position as a global leader in integrated retailing.

The days of proud “national manufacturers” are a fading memory as global organisations position differing operations in the global location most suited. R&D may take place in California, IP is held in Ireland, manufacturing close to the source of labour or raw materials. Management and staff are drawn from universities and institutions from all points of the globe and across many faculties.

A modern corporate board is just as likely to include a female graduate in PP&E as a male holding an MBA. Shareholders are increasingly focused on “whole of business” concept as opposed to the out dated “short term profit” position. The CBA board must now be wishing it could wind back the clock a few years to avoid its current publicity.

Change isn’t always good, some mistakes will always be made but hand in hand with diversity we are now more open to the faster assessment of ideas and their success or failure and prepared to act quickly to recognise mistakes, clear them out and move forward.

Don’t just accept diversity and change, embrace them, use them and remember:-

“….the only thing we have to fear is…fear itself” – Franklin D Roosevelt    

_________________________________________________________________________

By, Neil Steggall

 The Barking Mad Blog

Business Advice with Bite

http://wp.me/p401Wv-ji

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Business Writing - WCP 2014

The Essence of Business Writing

“The Essence of Business Writing” is number two in a series of ten “Essence of Management Articles”

You may have rattled off brilliant essays throughout school or university; however, business writing is tough. It’s full of subtleties and more dangerous than a minefield. It is a make or break it skill which everyone in business really needs to be on top of.

If you cannot clearly and simply convey your ideas into business writing for others to follow; or write a concise, accurate and compelling business plan  you are going to struggle to communicate with and develop the teams and structures you need to succeed in business.

Even in today’s seemingly casual environment business writing skills are vital. A well written email will deliver you a far better result than a weak one and a well written business plan, loan application or equity document can make your future just as surely as the reverse is true.

As a new graduate I was allocated to the office of the Finance Director a man of terrifying intellect and a reputation for the fiercest temper on earth. I recall in my early days that sitting in his large and plush office, which was always filled with clouds of cigarette smoke, scared me to the point that my mouth was too dry to use for speech and my bladder always appeared to be filled to maximum discomfort.

After a few weeks I was called into his office and he handed me a large clamp file of photocopied ledgers, notes, calculations, drawings and photographs and said “Can you turn this into a report on the cost savings to be made at the Victorian pipe plant? Nothing too detailed, say about ten pages; need it for next week’s board meeting” I nodded speechless and backed out of his office.

I froze, at last I understood “analysis paralysis”, I spent the rest of that day shuffling the papers and a large part of the next day doing the same. I could see and understand the data but I had no idea as to how I could even start to translate the complex data into a concise, meaningful and interesting report.

This was a test and I knew the cost of failure.

After hours of terrifying inactivity I thought back to my school days and how I used to piece together essays and I came up with the following written list of questions to myself.

  1. What is the purpose of the document

  2. What am I trying to say

  3. Who am I saying it to

  4. How do I present the information

  5. Have I quantified/qualified  my facts

  6. What is my conclusion

  7. Does it make sense

  8. Have I proof read it

My eight point format worked, the report was well received and importantly I still use this list today!

I think on that day I reached “The Essence of Business Writing” and it lives on. Let’s see how the 8 point essence can help you.

  • What is the purpose of the document: If you cannot answer this question clearly in three lines don’t write it because no one needs to hear it.

  • What am I trying to say: I literally write or type this question and its answer at the top of my first draft page of any complex document as I start to write.  I limit both question and answer to four lines each and if I have difficulty with space I rethink the documents whole premise. This question and answer should be at the core of every single communication even a simple email – though I usually allow a mental Q&A for emails.

  • Who am I saying it to:  Each audience has differing needs and expectations. Think this through; ask what will make a difference to your target audience. You are best to use a “different voice” depending on your intended audience. Therefore your writing style, words and authority should change accordingly. The facts are the facts but the audience changes.

  • How do I present the information: Remember when you start to write your report you know the subject backwards. Your reader is in your hands, take then on a sensible, fact backed and sequential journey finishing with a tight summary and sensible conclusion.

  • Have I quantified/qualified my facts: Your discovery that blue widgets outsell red widgets 10 to 1 is astonishing but when supported by respected research your discovery is in lights and your career is taking off. It’s all about cred! Yes research credibility brings respect.

  • What is my conclusion: In a well-researched, balanced and carefully thought through piece of business writing the conclusions will slowly emerge. Sometimes not the ones you or your audience wanted. Facts are facts and conclusions are drawn from those facts. Always call it as it is, don’t dress it up, a “bad” answer is much better than the wrong answer.

  • Does it make sense: In today’s world email a draft to a friend or mentor, their subject knowledge will usually be less than yours so see if it makes sense to them. Listen to input, take it on board but ultimately it’s your report and your decision.

  • Have I proof read it: The more important the document the more important the proof read and I don’t mean a computerised spell checker. Don’t tell anyone but I still have issues here. I check, I double check, my dog checks and yet every time I press “Publish” half a dozen errors flash in front of my eyes!

By, Neil Steggall

The Barking Mad Blog

SMS Advice with Bite

http://wp.me/p401Wv-eH

 

www.wardourcapital.com

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Perception - WCP 2014

The Importance of Market Perception

Perception Marketing has become big business and until recently I had applied little thought to the question of Perception versus Reality. People apparently now build entire careers around Perception Management, they are not involved in Product Development and Product Improvement, their mission in life involves changing us! Changing our Consumer Perception!

My regular readers are familiar with my commitment to Peter Drucker as the essential marketing guru. His definition of marketing is: – “to take something useful and turn it into something desirable”. I believed I understood this, yet recently I have encountered some surprising and strangely lasting, examples of perception marketing driven desirability.

A couple of weeks ago I was having a product discussion with my son, the CEO of a US based FINTEC company, and I offered the opinion that the product (under discussion) was crap! He answered promptly, “I know that, you know that, but the market perception is different and the market perception is reality”.

At first I was disturbed by this, isn’t it wrong to sell a substandard product, even if the customer is satisfied?  Well let’s think again before we decide.

New Scientist magazine recently published an article describing how researchers at Harvard tested a new painkilling drug as well as placebos on migraine sufferers. The placebos, despite their lack of real painkilling ingredients, were remarkably effective. “The placebo… accounted for more than 50% of the drug effect,” the scientists found.

To most of us this is hardly news; drug trials routinely incorporate control groups who are given placebos to assist in identifying results that are outside the standard placebo effect. Other drug trials have shown that tiny placebo pills can have stronger effects than large ones because they are perceived as especially potent. Placebo colour can make a difference, too.

I had to ask myself are placebos “my crap” or “market reality”?

The lesson for marketers is that our experiences are shaped by our expectations

Do we have other examples of “placebo marketing”?

Until recently we had a substantial investment in the wine industry. Wine is the ideal product to illustrate how marketing perception affects consumer experience.

Most of us and even those within the industry don’t have the honed palate of a master of wine, and how we enjoy wine is heavily influenced by what we think we know about the wine.

Perception marketing experiments showed that the same wine thought by a taster to cost $45.00 rated better than when it was thought to cost $5.00. Not only was this a win for the perception marketers, it actually lit up a wider area within the pleasure centre of the taster’s brains. In other words the perception became reality, it really did taste better to them.

It’s an example of consumers really believing “You Get What You Pay For” – yet again Marketing Perception has trumped reality.

This brings me back to Peter Drucker’s quote. Desirability may not be a product of quality but of expectation.

By, Neil Steggall

The Barking Mad Blog

SMS Advice with Bite

http://wp.me/p401Wv-eC

 

www.wardourcapital.com

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Entrepreneurs

The Naked Entrepreneur!

“to thine own self be true……………”

Respect and Trust are both vitally important qualities which we look for in an entrepreneur, and I fear both are currently being discarded in the rush for blatant self promotion.

Do you remember when the UK’s Jamie Oliver first burst onto our TV screens as “The Naked Chef”? He was fully clothed but he had stripped away the unnecessary bullsh*t and mystery surrounding cooking. The world fell in love with Jamie a self-confessed dyslexic, a school drop-out from Essex – he was simply and wonderfully himself!

As I read on-line profiles I feel emasculated by the fact that every second person is now “an expert on….”; “an author of” or at the very least an “international public speaker”. Some of these are well known and how lucky we are to have such easy access to the skills and knowledge which they have gained over long and successful careers. Many others and dare I say the majority, are if not bogus, then plain humbug!

Strong words and yet transparency and authenticity are more than just corporate “buzz words” they are amongst the real attributes that B2B’s and consumers now expect from the companies and people they do business with.

People want honesty in business and expect SME’s and corporations to provide real transparency and authenticity. They also want to know and understand the real people behind the profiles, websites, logos, social media and print.

Be open when describing yourself or your business. If your business is in its first year and you are struggling to make ends meet say so! Potential customers will often give a new business “a go”. How often have you said “hey let’s try that new pizza place”? Don’t invent a “construct” designed to make you look older, bigger, better, busier.

Be yourself! Just started – Johns Plumbing, I want to help! It’s a compelling message.

Today “Corporate Image” is less about status, qualifications, large offices and expensive stationary and much more about the real people, real skills and real results. Over the past week I had three meetings in coffee shops with clients, each of which is highly successful and controls a multinational business. Only one of them has a permanent office, shared with his accountant. Today working from home with a telephone answered or a query dealt with by a virtual assistant can be sufficient. 

Most businesses and consumers today don’t want to hear how clever you are or how important you are or how impressive your office is; they want to know if you can do the job and deliver the result at a price they are prepared to pay.

So rather than building an impossibly impressive on-line profile, simply state the facts; you are warm, human, competent, trustworthy and able to deliver results! It’s about engaging, sharing your passions, and talking about your product or service as it relates to other people and situations.

Here are some ways to show your inner Naked Entrepreneur:

  • Be Genuine: Be you, yourself, the real you and be proud to show it. Strip away the unnecessary bullsh*t and mystery!

  • Share your passions: Show what, how and why you are excited, if you have a dream share it.

  • Share your corporate culture: It says a great deal about who you are and the values you and your team share.

  • Admit your imperfections & failures: We have all at some stage failed, stretched the truth, let people down or just plain stuffed up – I have done all and more. It’s human. How you recover, learn and move forward is the real factor by which you are judged.

  • Show your expertise: Include your skills, knowledge and if wanted, qualifications on your profiles but do so to inform not to impress.

  • Be subtle: Yes you are brilliant, yes your brand is huge and of course your staff and customers adore you but do you need to tell us quite so loudly or so frequently.

  • Understand Yourself: Know your strengths, weaknesses and your limitations. For example I am a dreadful waffler and not the world’s best operational manager but when sat down free of distractions I am a fair theorist, thinker and strategist!

A reputation for being “a good person, hard working and determined to deliver” is probably close to perfection and almost naked!

Do you ever wonder why those global gurus who travel the world to sell their message of how to grow rich and famous in 30 days don’t have to stay home and manage their investment portfolios which must by now be huge? I have always wondered.

I guess they care about us so much they are prepared to travel 48 weeks a year just to help.

By Neil Steggall

Failed Wastrel

The Barking Mad Blog

SME Advice with Bite!

http://wp.me/p401Wv-cm

www.wardourcapital.com

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SME's Going Under WCP2014

HELP! – I am out of cash & going down!

At which stage do you accept that without a cash injection your business is probably doomed? Looking at the ABS statistics they show that in any three year period around 42% of registered SME’s fail. So the answer is that we should look for and accept cash and or help a lot sooner!

It is very hard when investing the enormous time, energy and focus needed to start and build an SME, to then find the time (and to provide the mental distance needed), to properly analyse and re-assess your management and direction. Being naturally entrepreneurial, SME owners have a tendency to fight on, often to a very bitter end.

When I left the corporate world to start my first SME I got to the end of year one and realised I was emotionally drained, failing and down to my last eight weeks or so of cash. Everything I had was on the line and I had no answers.

Recognising that I was no longer thinking straight I bundled my worried wife and two noisy young children into the car and we headed off for a long (and very cheap) weekend by the beach. It was mid-winter and raining; you can imagine my despair.

Late in the afternoon of our second day I took a long walk along the beach, in the rain and asked myself three questions:-

  1. Is the business concept viable

  2. If its viable have you managed it well

  3. If you had sufficient resources available what would you do differently

My answers were 1) yes 2) fair 3) build a team to leverage revenues.

I returned to the shack motivated and excited for the first time in weeks and when back at work I went about raising the cash and partners needed. It was surprisingly easy and within a year we had a happy and booming business.

Lucky bastard! I hear you whisper. Not really. In a now long career in and around SME’s I have realised a few truths about human nature:-

  1. By and large people want to help you

  2. There are more investors looking to invest than there are good ideas

  3. If your business is a good idea and you are honest, fair and hardworking you will find funding

  4. Investors are usually older, experienced, have suffered and recovered from failure – they understand your position

  5. By understanding your position and taking positive action you earn respect from your stakeholders.

So when do you put up the red flag and shout for help?

Assuming your business concept is viable and you are offering a product or service your customers want then consider the following danger signs:-

  1. Your business is growing, you are profitable and yet you are always short of cash. This happens in growing companies as to service higher sales you need more stock, labour, materials etc and your debtors ledger expands as sales grow. This all eats cash.

  2. You have more potential customers than you can handle and you are falling behind on paperwork and starting to knock back new business. At this stage you need to employ and or outsource more resources but how do you do this when cash is so tight?

  3. You know you could win larger more lucrative contracts and strengthen your business if you had more people, plant and equipment.

  4. Your debtors are slow payers and it is impacting on your ability to meet your payments as and when they fall due.

  5. The bank offers you an overdraft but only if you provide the family home as security.

If you are experiencing any one of the above your business is at risk, if you are experiencing any two you are in trouble and should seek help quickly.

In our company we see so many businesses fail which are fundamentally sound and indeed held so much growth potential.

When we analyse them we invariable find a point beyond which they had insufficient cash to maintain the business. Corners start getting cut, staff numbers are reduced, marketing budgets cut, bills go unpaid, staff morale falls, the staff start leaving and eventually an administrator or other court appointed official is installed

Possibly as many as 90% of the failed businesses (assuming no underlying fraud etc.) we look at could have been saved had appropriate action been taken early enough.

So what should you do if you are at risk?

First of all have an open and frank discussion with your advisors including your accountant and lawyer. Walk them through your business plan and figures and explain your concerns and the amount of investment you think you need to achieve a turnaround. Not only will they offer advice but they may well know of potential investors.

Look on line for SME Turnaround Specialists – a good specialist company should have all of the in-house skills you need and access to numerous investors. You may be able to negotiate an hourly rate or a fee based upon their success or a combination of both. A preparedness to complete some or all of the work on a success fee tells you a lot about their level of confidence!

What will I have to give away to attract an investor? Less than you think. A savvy investor will want to see you remain motivated and happy so as to help build a return on investment. If you are both fair, reasonable and above all offer each other respect you should enjoy a profitable relationship which sees the business turnaround.

Once you have an investor on board start to build a team of business mentors. Many SME’s have an advisory board of a couple of specialists who meet as a regular board would and help you analyse and guide the business forward.

Neil Steggall

The Barking Mad Blog

SME Advice with Bite!

Article Shortlink:  http://wp.me/p401Wv-cb

www.wardourcapital.com

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Presenting WCP 2014 Stick Drawing

Speak Clearly and Communicate

How well do you convey your messages? Is it a question you examine or do you concentrate on the content of your speech?

We spend plenty of time thinking about what we say in business, but not necessarily how we say it.

When it comes to professional settings the way we speak including tone, pitch, and volume is every bit as important as content and dramatically affects how our message is received and how people perceive us.

It’s hard to recognize our own verbal errors so if regular presentations and occasional public speaking are starting to occur in your career it could be worth practicing speech in front of a specialist or a mentor to ensure you are hitting the right notes.

Pitching your voice and presentation at the right level is quite easy and becomes natural with experience and as you become less nervous. The important word here is NATURAL. The natural vocal sound is pleasing to hear, easy to follow and quietly authoritative.

Most of us can become good and interesting speakers with just a little skill and practice. Here are a few pointers on how to improve your presentations.

Speaking too quickly

Understandably when you are new to public speaking you are going to be nervous and rapid speech is a very common effect of nerves. Rapid speech not only makes the speaker hard to follow, it distracts the listener and undermines the strength and authority of your message.

Susan Finch, a New York based voice and speech coach who works with business professionals, says hasty speakers often end up “mumbling, rushing, and swallowing” their words. To address this, she instructs clients to take a breath before they begin speaking and again before each major point. That simple action creates a natural break in speech and helps the person to slow down.

Being Australian; or “up talk”

Australians are known for “lifting” the final vowels of a sentence, the best way of understanding this is to watch British comedy and see how they poke fun at us. This issue in speech is known as up talk; ending a statement on an upward pitch so that it sounds like a question even when it’s not.

According to Sydney speech coach Sandra Harris, this issue is more common in women. Speakers struggling with up talk should record themselves and then make an effort to keep their pitch from rising at the end of a sentence.

The Monotone

Nothing turns an audience off like a dull and boring presenter and the worst speaking mistake is to use a dull, monotone voice. We want to hear in the voice a relaxed enthusiasm and a pleasant assertiveness, keep your audience interested by projecting your excitement and passion for your subject.

That doesn’t mean going over the top with high and low pitches, but rather allowing for some degree of variation in the tone and colour of your phrasing. And the easiest way to achieve that effect is to breathe and relax, try to place a smile into your voice.

Duh, um, fillers

These, um, filler words are ubiquitous in everyday speech. “Like,” “um,” “er” and others are used routinely in casual conversations and often go unnoticed. But they really stand out when used in professional settings.

John West, head of the speech division at New York Speech Coaching, refers to words like these as “vocalized pauses.” People typically toss these sounds into speech because they fear that allowing for a pause will lose their listeners. On the contrary, West says it’s the speakers who use excessive “ums” and “uhs” that tend to lose their audience the fastest, and that a well-placed pause can pique listeners’ attention.

Whispering quietly

Speaking at the correct volume and with strong voice projection is important. Sandra Kazan, a New York based vocal coach, says the ability to project depends on each individuals voice. For example, high-pitched voices naturally project better and further than lower pitched ones.

“A nasal voice will carry, will probably not have very much problem projecting, but it is a very annoying voice to listen to for any amount of time,” she explains. As with pace, experts say the best fix for volume is to breathe well. Projection problems tend to occur when people tighten up, constricting their vocal chords and preventing a smooth flow of air.

Trailing off

In general speech we have a tendency to get quieter at the end of a sentence, to “trail off”. A commonly recognised speech pattern is to trail off toward the end of phrases, clauses, and sentences. This means important words can easily get lost or messages can appear incomplete. You need to keep your voice supported, level and your message carrying all the way to the end of the point you are making.

At the end of the day be it in a meeting or a conference people want to hear your comments, words, ideas and knowledge. Give just that, hone your presentation but most importantly be you. Breathe deeply and regularly, pace yourself and impart your message. You will not only become an interesting speaker but you will enjoy the process.

Neil Steggall

The Barking Mad Blog

SME Advice with Bite!

http://wp.me/p401Wv-bH

www.wardourcapital.com

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A Great Mind Map - WCP 2014

 

Mind Mapping: let it work for you.

MIND MAPPING

Some of us think better in pictures etc. Before thinking through a big idea, I usually visualise it as a diagram. I have always “solved problems” graphically. Sometimes entirely within my mind and then A1 sheets of paper, followed by whiteboards, and eventually computers. Now I use a combination of all three. I called it mind mapping long before the phrase became popular – it just seemed to fit..

Basically mind mapping is the task of transferring thought and ideas, group or individual into a written form. I find brainstorming sessions are so much more powerful if there is a mind mapper in the group and especially so if that person is good with pen, paper or the whiteboard.

Are you a mind mapper? Are you able to get those amazing business ideas you toy with when driving or in bed down onto paper? It’s a skill but not a hard one to acquire, it can be fun and importantly the results can really change your business.

WHAT IS MIND MAPPING?

A mind map is a powerful way to generate and visualise new ideas, analyse problems, brainstorm, plan, show or research, complex ideas. Isn’t this just good old fashioned “brainstorming” under a new name? I hear you ask. No, mind mapping is a more structured approach to analysing and solving problems.

We now operate in a world where graphic representations are used more frequently and our brains are responding well to graphic analysis. Here are a few handy tools you can use to incorporate mind mapping into your business process.

WHITEBOARDS

The most basic tool you can use for mind mapping is a whiteboard. If you have a whiteboard you can start mind mapping individually or as a team to solve problems or to formulate new ideas. Today life is so easy, when you have the whiteboard full of ideas, take a picture of the whiteboard with your phone and upload it to your computer and share it with the team. Sometimes I get the original whiteboard data on the 60 inch screen in the meeting room so the whole team can see it and we start again on the whiteboard testing out our earlier ideas. This is a great way to mind map as a team.

THE BIGGERPLATE MIND MAP

If you want to up the ante and introduce a little more structure and sophistication into your sessions there are now several free or inexpensive mind mapping programs available.

Biggerplate’s mind map should meet most of your needs. In this extensive mind map collection, you’ll find templates for almost every task and challenge, including business mind maps, training mind maps, and general mind maps which you can use in your everyday life. The Biggerplate templates include everything you need from SWOT analysis (strength, weaknesses, opportunities, and threats), time management matrix, project management, task management and even tracking objectives.

If you and your team are struggling to get the mind mapping started, the Biggerplate templates can lead you into and through the process. I enjoy looking through Biggerplate’s top 10 mind maps just to see which templates other professionals are finding useful.

MINDJET

Very easy to use and inexpensive to buy Mindjet is an easy to use program designed for a variety of tasks, including mind mapping and brainstorming, Mindjet has flexible features which can be used in a variety of tasks including mind mapping, strategy development, marketing, sales and information technology.

MAPS FOR THAT!

The title just about says it all. Maps for That is great if you’re looking to share the mind maps you have just created or if you want to browse mind maps submitted by other teams or team members. It comes with amazing features and includes user-submitted mind maps in a variety of categories; including business, analysis, management, education, entertainment, events, and productivity, just to name a few.

If you’ve created a mind map you think others may find useful, upload it to the Maps For That site so that other users of the service can share. Initially just sign up for a free account, you can download and upload mind maps, comment on other users’ mind maps, and rate the mind maps you find the most useful.

MOBILE APPS

If your business uses smartphones or tablets as a way to communicate or work on projects, check out the mobile apps available from Mindjet. These apps allow you to create, edit, and view mind maps while you’re on the go or away from your computer. Available for the iPhone, iPad, and Android devices, these mobile apps can be downloaded free of charge directly to your smartphone or tablet.

If you haven’t started using mind mapping in your business, you may be missing out. Mind mapping can be used to create new business ideas, solve complex problems, and brainstorm with other team members — whether you’re in the office or on the go.

As I said at the start we all think and work differently, I enjoy mind mapping, let me know what you think.

Neil Steggall

http://wp.me/p401Wv-b8

The Barking Mad Blog

Business Advice with Bite!

www.wardourcapital.com

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Communication 2

The Power of Great Communication

And……..How-to-become-a-great-communicator.

Often after first drafting a speech or an article I look through and ask myself the question “what would my wife cut out of this?” Invariably its 60% or so of what I have written. My wife, I should add, is a successful author, journalist and historian and she can paint amazing mind images with such economy of words.

What I realise is that with discipline I can and do communicate well but I am not a natural. As I commence a story around the family dinner table the “children”, largely grown and successful now, groan and shout “make it quick or we are leaving” or “oh not that one again.”

Whilst not comparing myself (lol) with great communicators such as Winston Churchill, Franklin Roosevelt, John F Kennedy, Ronald Reagan, Nelson Mandela and Paul Keating I do occasionally wonder how Sunday lunch went down at their house.

Peggy Noonan was presidential speechwriter for most of Ronald Reagan’s presidency and she explains why Reagan’s presidency had such an impact on the world stage.

“He was often moving, but he was moving not because of the way he said things, he was moving because of what he said. He didn’t say things in a big way; he said big things … Writers, reporters and historians were in a quandary in the Reagan years. ‘The People,’ as they put it, were obviously impressed by much of what Reagan said; this could not be completely dismissed.”

Reagan was known as “The Great Communicator”, yet it’s a nickname he didn’taltogether agree with.  In his farewell address to the nation and to the world, in his own humble way, he redirected the praise by saying:

“In all of that time I won a nickname, ‘The Great Communicator.’ But I never thought it was my style or the words I used that made a difference: It was the content. I wasn’t a great communicator, but I communicated great things, and they didn’t spring full bloom from my brow, they came from the heart of a great nation — from our experience, our wisdom, and our belief in principles that have guided us for two centuries.”

My take on this is that it doesn’t matter whether you are a president or a manager – your success will depend heavily on your communication skill.

What are the key actions of great communicators?

Engagement

Communication is just that, it’s a two way flow of information. Great communicators know how to give and take and understand its importance. They not only initiate conversation, they steer the direction of and encourage others to join in the conversation.

Connection

Great communicators know that people won’t listen unless they connect both intellectually and emotionally. Know your audience and start by conveying emotional stories that connect to their heart. It’s all about the quality of the relationships the leader has with the people they communicate with.

I know several tough and very senior Australian business leaders who have met Bill Clinton on separate occasions both in Australia and in the US, each was impressed. In my post meeting discussions with them each said that when Bill Clinton talks with you, he makes you feel like you are the only person in the world. Wow. Show your listeners your empathy let them feel it and know you value their importance.

Humour

Great communicators are skilled in relaxing those with whom they communicate. An audience is often suspicious or defensive from over-communication and perhaps afraid of being “sold something”.  Great communicators show genuine interest in the other person and use humour and authenticity to come across as understandable and authentic..

Clarification

If you overwhelm your listeners, you will lose them, they will tune you out from boredom or confusion. Reagan was best known for being simple and clear. Never assume just because you understand what you’re saying that your audience does as well. Great communicators find ways to simplify though issues without being condescending.

Reinforcement

Great communicators know that an audience will retain only ten percent of what they hear, and therefore they are skilled at subtly reinforcing key ideas. They re-run their message throughout their presentations, speeches and writings. It is all about context and repetition.

Well I reckon that given the chance “my editor” would have pulled 15% of this and yet I think we are communicating OK!

Neil Steggall

http://wp.me/p401Wv-b0

The Barking Mad Blog

SME Advice with Bite!

www.wardourcapital.com

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Shhhhhhh!

4 Words to Avoid 

 

I have never really believed in New Year’s resolutions. Perhaps because as a child I constantly resolved to behave better the next year only to be involved in further mischief the first day school resumed.

 Move forward many years and I find myself contemplating change and wondering how I can improve myself in 2014.

Along with many others I need to be more positive, to look at the stars again and see just how brimming with opportunity life is and yet without realising it we have a tendency to introduce negatives into our thoughts and everyday conversations and getting rid of some of these negatives is my resolution for 2014.

So what am I proposing?

Really big resolutions always fall by the wayside so let’s consider something smaller; eliminating the use of just four simple, yet negative words, from our everyday vocabulary. Hate, Cannot, Never and Impossible.

These words are rarely used in context, rarely make sense and rarely if ever contribute to anything positive.

Let’s look at the words individually and see what we think:

HATE: “A transitive verb; to dislike somebody or something intensely, often in a way that evokes feelings of anger, hostility, or animosity”

Now this is a very strong, negative and unpleasant word and one I would like to see disappear from use. If you are like me you probably don’t actually hate anything and yet this word creeps insidiously into conversation…”oh I hate the idea”…..”oh I hate Social Media”, “I hate this project”.  Do you really?

Interestingly when reading or listening to stories of Holocaust or Kokoda Trail survivors they had most often realised that to survive and move on with life it was important not to hate their captors.

Most great achievements in history have followed periods of struggle and complexity and I am sure that at times Pythagoras was frustrated by his formulae but did he hate them?

Let’s change our thinking to “not sure I am in love with the idea but let’s think it through” or “I just don’t get Social Media!!”

We have still let our feelings show through but in a positive way.

CANNOT: “a model verb used to indicate that it is impossible for something to be done or made use of in a particular way

In our everyday lives is there really anything that we cannot do? Accepting that we must abide by society’s rules, we are then able to do pretty much anything we put our minds to.

When you are next tempted to say “I cannot get this report finished in time” or “I cannot get to the gym today”, think of the Para-Olympics and the CAN-DO attitude in use and on display each and every day to do what many would say “Cannot” be done.

So often cannot is used where “don’t want to” or “it will be hard” should be used.

Let’s become a can do person. Let’s consider the task and look at the different ways it can be approached and remember. You CAN do it, you WILL do it and soon you HAVE done it!!

NEVER: “an adverb indicating that something will not happen at any time, or that somebody will definitely not do something.”

Never is not so aggressively negative and yet in real terms what does it mean? I always see never as never really arriving and therefore non-existent, but it slides quietly, and negatively into our conversations….”that will never work”….”we never do it that way”…….”she will never work out/fit in etc”.

What does this mean?

Just by saying never we are limiting our possibilities. We may for whatever reason not be able to do something this minute or this day but who knows what tomorrow or next week will bring.

Perhaps we should be thinking “how is that going to work?”……”can we do this another way”…..”how can we help her fit in”

Interestingly never can be turned around…..”I will never rest until I achieve this” but that’s a different story!

IMPOSSIBLE: “not able to exist or be done”

We never know what is “possible” until we really try. Quite often we achieve the “impossible” just because we didn’t know it was “impossible”…..yes think on that!

Imagine waking up from an accident to hear the surgeon say you will never walk again or never talk again. This is a situation faced by accident and stroke victims around the world and yet against all medical evidence people move forward and do the “impossible” they walk again, they talk again!

Let’s think of these people and take our lead from them, yes the task is tough, we don’t know how but we do know we can do it!

Every day in large and small ways someone, somewhere does “the impossible” and that is one of the enduring features of being human and being successful.

So you know what I am up to in 2014

Neil Steggall

The Barking Mad Blog

SME Advice with Bite!

http://wp.me/p401Wv-aO

 

Wardour Capital Meeting #2  2014

10 Tips to Organize a Successful Business Meet

What do you do to ensure that the business meet you organized doesn’t fizzle out?

As a top entrepreneur in the lead, you must take the initiative to arrange business meets to connect with others. But that isn’t all; you need to create an event that people enjoy. Not something they dread!

If you create a platform where entrepreneurs share their thoughts, views, opinions and crises. It helps you earn the trust and respect of your fellow entrepreneurs. And it boosts that collegiate  feeling. You just need to make it a success. But it is easier said than done.

Let’s take a look at 10 simple but effective things that can help you achieve your goal.

Take Your Time to Plan Every Detail

You cannot wait until the last minute to send out the invites and think everyone will turn up. Decide the time and date, select the venue and inform the business meet group members about it in advance. They have to fit it into their busy schedules too.

Check Every Important Aspect In Advance

How will you feel if the audio doesn’t work when someone’s making a presentation? Reach the venue and double check every detail. Make sure the space is adequate for all and the audio-visual equipment works.

Make It An Exclusive Event

Identify the niche you are in and create a group with a strong focus on the core concept. When you make it an invite-only event, you generate interest about it among the entrepreneurs in the niche to participate. This also encourages the aspirants to be part of the community.

Make Introductions Easy With Name Tags

It isn’t easy to remember the names of hundreds of entrepreneurs at an event. Create name tags. It will make introductions a breeze! You can also add their business name and relevant details to it.

Adhere To Your Goals to Meet Expectations

As an organizer, you need to have a clear idea about what the meet is all about. Make sure this is in keeping with the image of your business. For example, if you are into apps development for educational institutes, educational meets are more suited. Plan the meet according to the purpose.

Organize Topics to Keep Everyone Engaged

What do you want people to talk about? Decide the things you want to interest people in at the meet. Use the topics to initiate conversations. You can also throw in some challenges to keep things in motion.

Offer Exposure for Start-ups

You may also incorporate talks, events, quizzes and such other elements into the business meet. But when you let a start-up offer a demo at the meet, you add to its interest. It supplies food for thought for the entrepreneurs present and gives them an excellent topic of discussion.

Give Conversations a Direction

Don’t let the conversation die down. Place your contacts at opportune points to keep it going. With this simple tactic, you will create an environment where people learn new things without a hitch.

Foster Relationships

A business meet is all about the relations entrepreneurs create. And the community they build. It is possible to boost entrepreneurial efforts when people have the support of their peers. Don’t just keep it professional. Let entrepreneurs connect with each other on a personal level. Social hangouts can help you with this.

Keep It Confidential

No entrepreneur will open up unless they are sure that their secret’s safe with the attendees. This is possible only when you assure that it remains within the group. Open and frank discussions will be possible only if you do this.

It isn’t difficult if you are aware of how to keep things in motion at the meet.

With a little planning and effort, it is possible to organize a business meet where the group members can share their stories, offer others positive challenges, help others get back on track and create a strong community.

 And what do you get out of it? Well, you become the proud organizer of a business meet that isn’t another monotonous hour of long conversations between people who don’t even connect with each other. But something that gives everyone their fair share of exposure in the community and ample food for thought.

The Barking Mad Blog

SME Advice with Bite!

http://wp.me/p401Wv-az

images[3] (2)

 Communication Drives SUCCESS!

Communication is the #1 single skill needed at every level of business from a one man SME to multi-national corporations. To gain the most out of our lives we need great communication skills and yet I find a great deal of confusion as to what constitutes good communication.

I have written in the past about the importance of SMILES; perhaps the earliest and most basic form of human communication. Communication can be simple good manners. On a recent weekend enjoying the spring sun over an outdoor breakfast my wife and I smiled and nodded at the couple on an adjacent table to us. A simple communication opener which was just as simply reciprocated. The real communication occurred later when my wife asked questions of our new table neighbours …”and what do you do?”

Suddenly not only did their fascinating lives come alive but so did an exciting potential joint project between them and my wife.

Now remember we were just relaxing, careful not to intrude, enjoying Sunday breakfast but we understand communication is human and we are open to communicating. People sense this.

Communication is not what we say; it is who we are and what we do, that creates the impression, or as was said in the Australian movie, The Castle…..”It’s the Vibe”.

A US expert and communication authority Dr John Lund uses an interesting quote; “Don`t communicate to be understood; rather, communicate so as not to be misunderstood.” What a great way to put things in perspective regarding our efforts on how to improve our communication.

Dr Lund has explored the way in which we interpret communication from others.  He also reveals some very interesting statistics on communication.

When someone is speaking with us, we interpret their message based predominantly on the following three factors:

•55% is based on their facial expressions and their body language.

•37% is based on the tone of their voice.

•8% is based on the words they say.

Dr Lund states that his findings are the average taken across both males and females collectively, but that if you looked at women alone they would even give greater weight to the facial expression and body language and even less on the words.

This tells us that it is critical that we become very self-aware of how our body language is speaking to others as well as the tone we use.

Read my article on smiles! That smile comes through in your tone of voice over the phone. It works wonders on how well you come off on a phone call, trust me!

Smile: Shortlink:  http://wp.me/p401Wv-4x

Early in my career I worked for a hugely intelligent man who used to very gently ask me questions after a meeting. He would listen patiently to my answers and say “Neil listen to what they mean and what they need, not what they say”. At first this confounded me until I slowly realised that it may on occasion be difficult, embarrassing or even offending to state what you mean or need.

Once I learned to look beneath the surface, communication and business became easier, more productive and far more enjoyable.

The next major change in my thinking was when I realised that 10 different people see the same thing in 10 slightly different ways. And importantly women see things as differently again from a man which is why mixed sex teams work so well in obtaining balance.

To get your thinking moving look at the graphic below and tell me how many squares you can see?

af07704a-5559-11e3-ba35-12313b0d285f-large[1]

I will leave the answer for the end of the article but in warning I will let you know that in a recent study 96% of Telstra management got this wrong!

Getting back on theme, in the study men occasionally and women mostly want to know three things before they are willing to enter into a business conversation with you:

1.  Is what you want to talk about going to be painful?

2.  How long is it going to take?

3.  When you are done talking, what do you want from me?

If they don’t know these three things up front, they will make excuses to avoid your call or to avoid talking to you on the phone.  The same applies if you come into contact with them in person.

It’s fair to assume that your manager or client in a work setting will always want to know those three things in advance of agreeing to a conversation as well.

It comes down to an ingrained human need to want a strategic exit from difficulty.

These are acquired skills which roll easily off the tongue of experience; however this terrified me early in my career. If in doubt as to what to say or do remember that a show of genuine respect will always help in establishing a rapport, if you are terrified say so, the person you are communicating with will respond positively.

How to successfully conduct a conversation in business:

Success in business is greatly impacted for better or worse by the way in which we communicate. Happiness in our personal lives is also greatly dependent on this very same skill. If you don’t believe me just look at any married couple and work it out!  Becoming a good communicator takes practice and consistent attention and effort on our part, and it is a skill that we cannot afford to overlook.

Remember “don`t communicate to be understood; rather, communicate so as not to be misunderstood.” And always, always allow room for respect.

Now as to the “squares” there are 9 individual small squares; 5 2×2 squares; 1 4×4 square and one 3×3 square. A total of 16.

I hope you worked it out. Whatever your answer think on what it means about how we see and communicate ideas.

By; Neil Steggall

The Barking Mad Blog

SME Advice with Bite!

http://wp.me/p401Wv-ag

www.wardourcapital.com

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The Perfect Storm

(A Modern Horror Story)

Because it Rains in Paradise

Why be so negative?……. well let’s use  Paradise as a metaphor.

Because It Rains in Paradise…….!!!!!! 

Come along take a short ride on this little thought wave, let’s see Paradise as a metaphor for a well-run business, a prosperous and growing concern and let’s see the rain as a metaphor for an approaching economic storm.

How well protected are we in terms of our ability to weather the storm? We have our business plans to hand but they make no mention of a storm. Have you been through a storm before? What changes? How do we survive? How bad will be storm be? Can we rebuild post storm?

So many questions and yet so far so few real life answers.

Breath deeply, let us relax together and read a little story……….

At times business can appear a lot like paradise, it’s a great place to be, and everyone wants to be there to enjoy life with you, to know you and to bask in your reflected success. You are the visionary, the hard working, creative, entrepreneurial brain who made this all possible, your adrenaline flows, your energy and ideas come together, your staff are happy, motivated and successful, they respect you, the cash flows in, you drive a nice car, dress well, you eat at the best restaurants, you fly at the front of the plane, you speak at conferences, and…….ahhhh you sit back, relax and you reflect on just how good your life is.

One day, a small cloud passes between you and the sun, sending a slight shiver through you, but it quickly passes. Utilizing your latest smart devices you send a few more ideas, instructions, queries, emails and more pictures of Paradise to your office, you check your bank balances, transfer a few funds here and there and it’s not yet lunch time.

The sun still shines but the palm leaves rustle again this time with an unsettling sound and in the distance the ocean appears darker, are those clouds, building in the far distance or a trick of light on the horizon?

Far, far away from Paradise and way over the horizon is The Land of Plunder (LOP). A terrible, bleak, dark miserable environment that draws the humanity, skill, resourcefulness and entrepreneurial spirit out of you like a black hole draws energy from its surrounding universe…..no profit, not even a scrap, ever escapes its clutches.

Populated almost entirely by wise and educated sages such as investment bankers, credit providers, speculators, derivative traders, stock brokers, securitization specialists, short sellers, long sellers, fund managers, promoters, actuaries, lenders, accountants, auditors, receivers, managers, liquidators, lawyers, barristers, regulators, and their shiny suited minions oh it’s a soulless place to exist yet alone to live.

The problem is that in the Land of Plunder no one actually makes, grows, manufactures, produces or sells anything. Nothing. Not a single thingamajig or even a widget. Not a single truly commercial activity in the whole land. Yet its population consumes the funds made in Paradise, it lives to play games with those funds converting them into concepts and instruments called spreads, market sectors, cash, gold, minerals, fuel, pork bellies, red bean futures, long and short positions, options, shares, derivatives, differentials, margins, rates of interest, rates of exchange, incremental ROI, leveraged positions, contingent assets and equally contingent liabilities. Perhaps the favourite game of all, played only by the most knowledgeable of sages, is the interpretation and discussion of meanings…..net, gross, before, after, on or off the balance sheet, earnings brought forward, deferred debt, provision for, contingent, or not and most importantly the holy grail itself………THE BONUS.

That night as you lay back in your king size bed, sipping a final glass of Comte de Taittinger, the wind rises and the palm leaves rustle, indeed as the tree trunks bend under the increasing force of the wind you get to thinking about The Land of Plunder. Who actually pays them and what for? What happens historically? Doesn’t the LOP like totally fuck up at least once every generation? And what happens when they do? Could it damage your business? What could you do to protect your business and the thousands like yours?

Another perfect day in Paradise dawns and already your CFO has confirmed that your cash registers are still singing caa-ching, your revenues are up, your staff are motivated, your customers are happy, your suppliers are on time and on budget and your R&D team is about to make yet another technological breakthrough and yet that lingering fear niggles away at you. How would I get by if the LOP was to get it all wrong?

Much of your new day is given over to this dreadful thought, and with the help of your laptop you reflect on history’s greatest LOP fuck ups. Dating from the Roman Emperor Diocletian’s disaster in the fourth century to those wicked Medici’s and their Pazzi Conspiracy and the subsequent Banking collapse of the fifteenth century, to the collapse of the Spanish economy in the mid sixteenth century….oh how could the wise sages have got the gold price so wrong? Of course no one within the LOP’s Dutch branch could have imagined that one day a Tulip Bulb would be worth less than its weight in gold but alas it came about. All of this further distresses you.

You of course realise that in the eighteenth century the sages came up with a brilliant plan, they sold the South Seas Company the exclusive rights to trade with and to import gold and other untold riches from South America. Sadly the sages didn’t actually clear this with the owners of South America, (Spain) or even mention it in the prospectus, small oversights they later realised and thus came about the South Sea Bubble. To date this is still history’s largest corporate collapse. Those damned Spaniards just didn’t play Cricket, did they, the sages were heard to mumble.

Racing forward, you find we have the sages of the LOP, engineering a convenient double act, in the Railroad and Silver collapse in nineteenth century America. Again the sages were ever so slightly wrong. More rail road carriages and rail roads were built than there were people and stock to travel on them. Some railroads went to towns and cities yet to be built. Proving that a double act was possible, the sages funded one or two, or was it ten or twenty, US silver mines to be opened on virtually the same day and surprise, surprise, the silver price fell through the floor. The US economy plunged into recession, jobs lost, families homeless, Railroad stocks crashed and companies failed but God Bless the sages……they still had their fees.

Still good hardworking entrepreneurs just like you were soon back at work in Paradise building their businesses, making and selling thingummy bits, widgets and the many whatnots needed by the people of Paradise. The sages were so impressed they decided to buy shares in these solid enterprises and trade them at a profit in LOP, whilst of course charging fees and profitably clipping tickets along the way.

Alas the shares were oversold and overpriced and in 1929 the entire global monetary system collapsed causing the worst depression, loss of jobs, homelessness, self-respect and starvation the world has ever known. In fairness some of the sages did feel quite bad about this and threw themselves out of their Towers of Babel to the pavement below. Though not many; and for the few that fell it was often as close to reality and real people as they ever came. One could go on and on mentioning the sages doing so well out of the provision of two glorious sessions of twentieth century global war debt, the Credit Squeeze of the early ’70s, the stock market collapse of 1987, the Banking Crisis of the early 1990’s and that monumental fuck up of 2008, but by now you really need a drink;

More importantly you need to recognise a the pattern, call in some real people and plan!

Please lets us know your thoughts, ideas and feedback. Contribute to this debate is both free and important to do so!

Post your thoughts below and………………….give some bark to your thinking!!!

October 2013

Neil Steggall

http://wp.me/p401Wv-aS

The Barking Mad Blog

SME Advice with Bite!