by Doug Gray | Sep 20, 2011 | Business, change, Coaching, Leadership, Personal Development, Success
Key Performance Indicators (KPIs) are commonly used metrics for a business. You may use quarterly returns, cash flow, % new sales, #of clients retained in your daily life. Accountants and MBAs are taught to master these. As if they were gospel.
But they are not gospel. They are a choice.
What if we these KPIs were only metric among several?
1. Posted on the door of my home office are two examples of alternate KPIs. One is a list of financial metrics by month (e.g. revenue, expenses, investments, monthly gross, bank balance, and % of 12 month goal.) That visual keeps me focused on business. And it teaches our high-school aged daughters something about business. The second list is called “Passionate Actions.” These are the reasons why I work. Listed monthly are the family trips, personal trips, adventures, life decisions in the past and in the future. I update both lists quarterly, or so. Together, these KPIs keep me focused on 1) the top line, 2) bottom line, and 3) key lines.
2. According to recent articles in Fast Company and the TED community online, there is a new KPI being adopted in several countries in Northern Europe. They measure Happiness. As a social construct. And as a material currency. Details are at http://blog.ted.com/2006/09/26/happiness_exper/ Can you imagine using a Happiness Quotient, HQ, as a measure of your personal success? Makes me wonder if we are missing this KPI in America. The health and social benefits of happiness as a choice are well documented. The alternatives are even better documented (e.g. depression, violence, poor health and diet…)
3. Alienation. Anomie. Social Isolation. These are not commonly discussed points at your local breakfast Rotary Club, or while watching your kids play soccer. But these are social facts in America. Especially for men, who are being replaced by women throughout every business segment in America. These people may be too sad to talk. They do not easily build relationships. So, perhaps we need to adopt radical new KPIs such as “The number of direct conversations with people per day. The quality of conversation per day. The number of hours helping others per day.” Relationships define business success, and psychological health. We know that those who live longest have a strong social network. Hmmm… solopreneurs are not the only ones who need to guarantee social contacts. Look at any coffeeshop or bookstore or library for examples of lonely people. Watch how many fathers are at school bus stops, or PTA meetings. Scan any online dating company. Did you know that you can now “Rent-a-Grandma” to watch your children? Makes me wonder what would happen if we were to create KPIs around constructive social relationships.
Like many readers, I have shelves of books on Success. I regularly send subscriptions of Success magazine to my most engaged coaching clients. Creating “success” is a work in progress, and the metrics define the outcome.
What if we were to adopt a new view of KPIs?
by Doug Gray | May 25, 2010 | Business, Employment, Leadership, Personal Development, Success
You know the pomp and circumstance. A time when all of us pause and watch friends or family strut their moment upon the stage with optimism and digital flashes. We say, “What a success you are!” As if it is an American right that our next generation has more opportunities than the last one. Perhaps you sat in the audience, reflecting on your graduation, or the economy, or opportunity. What do you advise a graduating senior today?
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by Doug Gray | May 17, 2010 | Business, Coaching, Leadership, Managers
Have you heard these comments?
- “I have always wanted a chance to do this job!”
- “If I do not get a promotion soon, with more challenges, then I will have to look elsewhere.”
- “Frankly, I am not sure that I am ready for the demands of this job.”
- Thanks for the promotion offer, however…”
I have heard these comments, almost every week, from managers and leaders who want to do a good job but are not sure HOW to do great work.
You may have heard that one measure of corporate success is agility. HR professionals cite studies that describe “learning agility” as a key determinant of corporate success. In fact, just yesterday a coaching client stated, “My core competency is my flexibility and willingness to take on any challenge.” He is representative of any high potential manager. He was recently re-assigned to manage a new group.
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by Doug Gray | Apr 29, 2010 | Business, Coaching, Employment, Leadership, Managers, money, Personal Development, Sales, Success
Selling defines success. Nothing else is more important in your business. So what is this notion of the trust business?
Are you in the financial services business or the “trust business”? Your answer could well determine your success. The trust business is defined by what you provide for your clients. People hire you—or decide not to—based on how much they trust you. People reinvest or walk away based on how much they trust you.
Perhaps the idea of selling trust is new to you. If you think you sell products or services, you’re limiting yourself. Here are the four principles you need to remember to be successful at selling in the trust business:
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by Doug Gray | Apr 22, 2010 | Business, change, Coaching, Leadership, Managers, Personal Development, Sales, Success
Excellence springs from courage, but not everyone chooses to be brave. These financial advisors share how and why they acted with courage, and how it benefited their business. Consider their insights into the nature of courage, and start using it to build your business, too.
Let’s start with a definition. The word “courage” shares a root with the French word coeur, or heart. So when you act with courage, you’re acting from the heart, from your inner instincts.
I define courage as being authentic, acting from your gut. You know when your gut senses danger or trustworthiness during a first meeting with someone. Courageous actions spring from taking to heart what your gut is telling you.
The brain is involved. But there are no decision trees. In fact, your executive center may stifle courage at times. “Courage has need of reason, but it is not reason’s child; it springs from deeper strata,” wrote Herman Hesse.
For instance, if your gut instinct is that a wealthy prospect is going to be extremely difficult to work with, it may be courageous to walk away. It may be good business practice to say, “I’m not interested in moving in that direction at this time.” But that might mean giving up what seems to others to be a blockbuster account. Do you focus on the dollars? Or do you do the courageous thing and listen to your heart and your gut?
Following are six examples of people in the financial services industry who have acted with courage. Perhaps you are facing similar situations.
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