Wednesday, 1 December 2010

Cash in on Your Most Valuable Asset


Success is NOT determined by talent. If you live long enough you will at some time look at a talented, intelligent person, shake you head and say "what a waste". Success is not determined by hard work. Good work ethic and the consistent application to the tasks at hand are important for success. But it is NOT the laborers, construction workers or farmers who control the wealth in any nation.

Success is about having big goals that are worth achieving and then taking control of the sequence of events that lead to the efficient and effective attainment of those goals.

The secret to the productivity of every important person in our time is an effective time management system; A 'system' by which you manage yourself so that you are able to accomplish that which you most desire to achieve in your life time or the current phase of your life.

Here are seven proven strategies guaranteed to help you increase performance and productivity in your professional and personal life. I have tried to sequence them for maximum effectiveness, but feel free to try them in any order that works best for you.

1. Think It And Ink It

Decide what your want and write it down. What do you really want to achieve in your business and/or life; one week from now, one month from now, one year from now. Just decide and write it down. Have some 3 year goals, some I year goals. Now how about The 52 goals that you will achieve every week this year that will feed into your on year

2. Make A Plan

Look at what you say you want to accomplish by the end of this year

What would that accomplishment look like?

What would that accomplishment FEEL like? What must occur just before realization? What must have to occur before that point? Work in steps back to the present.

Now make a project out of that plan.

What can you do alone, what resources will you need, who else should or could become involved, what would make that possible?

Detail those project steps. The further into the future you situate the things you wish to achieve, the less details you are likely to have, but don't settle for anything less than an outline.

Make your plans visible so that this can trigger your subconscious to be always on the look out for implementation mechanisms. A proven planning and implementation technique is called displayed thinking. This calls for the plans to be displayed on white boards, or as a story board.

Displaying your plan in this way facilitates


Fine tuning the plan by the changing and/or addition of information and
Checking off completed activities that move the plan towards attainment.


Burying your plans in a notebook, or a computer file folder could be a BIG mistake. What if it were not "rediscovered" until next year this time?

Apply the 10/90 rule. Spending the first 10 percent of your time planning and organizing your activities before you begin will save you as much as 90 percent of time in the implementation phase.

3. Organize Yourself For Maximum Time Productivity

Do you take business calls on the fly with no system to record the information, no prior planning, and conversation or follow up notes?

If you are writing - are all the background materials assembled and in a file on your desk?

Do you allow impromptu, 'no declared agenda' meetings?

Do you allow yourself be trapped in the hallway or doorway by the - 'got a quick minute?" request that leads to a full fledged debate on an important matter.

Begin to designate the area most conducive for specific key activities; meetings, telephone prospecting, writing and client follow up, etc. And make sure everything you will need for the task is in that space.

4. Know Your Key Results And Key Constraints

What are you trying to achieve?

What are you being held accountable for?

What activities that if you did and did well, even to the exclusion of all others would still have the greatest impact in moving you towards your goal?

What can be delegated even if done poorly at first?

What can you and only you do that will make a big difference in the outcome result?

What are the constraints likely to slow down or derail your progress?

Apply the 80/20 rule here. Focus on removing that significant 20% of constraints which could genuinely stop you in your tracks

5. Prepare Thoroughly Before You Begin

Do your home work - reference materials, past correspondences, addresses and telephone numbers, any special instruction or feature, uncluttered work area. Get everything ready then "sleep on it"

This is especially needed for large complex and critical tasks. Sleeping on it, helps to manage your energy and enlists the subconscious to help your preparation while you sleep. This will give enhanced effectiveness and implementation speed when you awake. Taking this preparation time actually give you more leveraged time in implementation.

6. Practice "Time Blocking"

Increasingly new evidence is bringing the curtain down on the value of your ability to multitask. Research shows that lack of a single minded focus or the tendency to stop and re-start a task has been estimated to extend completion time by as much as 500 percent.

The principle of Focus has been shown time and time again to be one of the greatest productivity leverage.

Develop the ability to choose the most important task for the moment, dig in and come up for breath when you have completed the task or the time you had blocked for it. Pushing on a task after the time you have allocated to it could endanger all your other scheduled task. Reschedule of just cut - "good is good enough". With time you will get better at estimating how much time is actually required for particular categories of tasks

Announce your plans to those you work with and treat potential violations as life threatening events. Encourage others to communicate in a written format and schedule all interaction. If you must have unscheduled interaction be very clear about focus and expected outcome

"John/Jane I only have 15 minutes right now"

Mary - I know you may have a long laundry list, but what is the most important thing that you would like to achieve in the 20 minutes that we now have.

Decide, do and cut off at 20 minutes even in mid sentence.

If you have ever been to a counseling professional you see the exactness with which this works.

7. Rest And Replenish

Down time and social interaction are vitally important to keep you physically and mentally recharged. Develop a personal learning and innovation plan to keep you at the cutting edge of your game - plan the seminars you will attend, books you will read and/or influential thinker you will follow. Block personal R &R time at the beginning of the year and make commitments that will be painful and or costly to renege on. Socialize to recharge, replenish and renew.

A word of caution: beware of overindulgence and tipping the scale too much towards R & R. The more developed your business and further advanced you personally are in years, the more R & R you can afford or need.








Marketing strategist Dr. Andrea Blackwood-Harriott is the creator of the 7-Steps "GetMarketAdvantage System" which helps entrepreneurs to identify leverage points to accelerate the growth of their business. Visit her website http://www.bigwinmarketing.com to receive FREE tips and strategies , subscribe to her ezine and learn more about her step by step system guaranteed to help you secure a BIG WIN in your market.


Achieve Weight Loss Success For Life


Obesity rates continue to increase at a staggering rate, increasing the risk of heart attack, diabetes, stroke, Alzheimer's disease and many cancers. In fact, obesity has surpassed smoking as the leading preventable cause of death in America. A study presented to the International Congress on Obesity reveals an even more sobering statistic - men who enter adulthood obese face a twofold increased risk of dying prematurely.

This underscores the critical importance of maintaining a healthy weight through childhood and into our teen years, as fat which is stored during the developmental years has a direct impact on our risk of illness and longevity as we phase through adulthood. Fortunately, by adopting a healthy lifestyle and weight loss program, we can reverse the risks which lead to an early demise, and avoid becoming a grim statistic.

Phase 1: Educate Children from an Early Age

Information from this study makes it clear that the growing epidemic of overweight and obese children is leading to a shortened lifespan for our next generation. This problem is simply rooted in poor diet and lifestyle, as children are being raised with the notion that fast food through a drive thru window, sweetened beverages and sugary snacks make up a healthy diet.

The average family eats 4 or more times a week at a fast food restaurant, in many cases consuming more than twice the calories they should for a single meal. Couple this high calorie, low nutrition eating style with virtually no physical activity, and you have the recipe for a health disaster.

Children need to be educated on how to eat healthy and stay active in much the same way as they are taught to read. This class must be taught at home. A child's mind is pliable, and adopting a diet of nutritionally balanced, reduced calorie meals prepared at home will become a life skill they'll retain as they get older. Reserve dining out for special occasions only, allowing you to control meal ingredients and portion sizes. Limit television and video games while encouraging regular physical activity.

Phase 2: Use Motivation to Solidify Your New Lifestyle

In order to hit your ideal weight loss goal, you need to master the mechanics of proper weight management. The tools are provided by eating a nutritionally balanced, calorie restricted diet with no junk food and participating in a regular exercise regimen. Beyond the basics, you also need to reward yourself for your accomplishments, and this requires motivation, driven by the knowledge that you're working to improve the quality and length of your life.

The best motivation is to track your progress. Keep a daily record of the foods you eat, carefully recording portion sizes, total calories and weigh food when applicable. When you estimate portions, you set yourself up for failure. Finally, weight yourself using a digital scale no more than twice each week, keeping a log of how you're proceeding toward your weight loss goal. Remember, the excess weight didn't suddenly appear overnight, and losing those extra pounds will take some time and effort.

Weight loss can be a matter of increased lifespan for many overweight and obese people. Depending on the amount of weight you need to lose, and when in life those extra pounds appeared, you may be able to make a significant impact on how long you live. Diet and exercise are important components to achieve your weight loss goal, and harnessing your psyche provides the necessary motivation to experience enhanced quality of life for many years to come.








Read More Expert Advice on Diet, Health and Nutrition, and Download your Free Weight Loss EBook!

John Phillip is a Health Researcher and Author who writes regularly on the cutting edge use of diet, lifestyle modifications and targeted supplementation to enhance and improve the quality and length of life. John is the author of 'Your Healthy Weight Loss Plan', a comprehensive EBook explaining how to use Diet, Exercise and Targeted Supplementation to achieve your Weight Loss goal. Visit My Optimal Health Resource to continue reading the latest health news updates, and to download your Free 48 page copy of 'Your Healthy Weight Loss Plan'.


11 Laws of Money Your Professors Did Not Teach You at Harvard and Princeton


The principium of making money work for you is making it a mancipium! Put money in something to get something more in return; apply your earnings and apply leverage to build wealth.

You should not be loosing money in the financial and investing world. Apply management by objective, spend less out of your pocket and make more in return from the money you put into investment. You must be able to have more return on your investment and have more money working for you so that you will have more time available to do other things and make much more money. Direct your leverage rightly and well.

You do not pinch pennies to have pretty penny! Penny-pinching mentality is a negative amount; work smart in this day and age by focusing on creating more money to live positively and prosperous in time to come.

Be motivated in life! Be of age in your finances and come of age in your investments. Maximize your dunamis (might) and hikanotes (competence); make favourable influence out of favourable occasions, do the right job and make money from it. When you earn the money, invest ten percent of your earning every four weeks so that you can have more than increase in your investments every year to go beyond yearning for the good life but being comfortably situated in life.

It is maturity to put your ability to work and pay your bills expended to secure a benefit or bring about a result. Do not make ducks and drakes of money, be one who dissipates his or her resources foolishly and wastefully no more, maximize your pin money and do not consume money in expenditure for things not absolutely necessary. Keep records and account for what you are doing; you must keep track of money and always have at your fingertips how you lay out and hand out your money. Put a course of sprouts on your fixed operating cost, variable operating expense and budgeted outlay with a financial plan.

There is nothing wrong with having money figment of the imagination; it is an indication of your money-manifestation. You must have a mindset that pay its own way in view of the fact that what you see is what you have. You must see money in what you think, what you are and, in the source of all resourcefulness and trust. Your conscious mind must generate and build up the process of exhibiting the special privilege to see in your mind's eye your worthwhile lifestyle, your subconscious mind must act in response to autosuggestion towards moneymaking and your superconscious mind must have unrestrained access to all intuition and information existing for the purpose of ever-increasing your passive income. Make as much money as you could do with and put your funds to work for you.

Define your fruitful goals so that it provides you with favourable occasions that are out of this world to build your sense of satisfactoriness and reliance on your supremacy, and have favourable influence. Make yourself master of all you need to take actions toward the accomplishment of creating a lifestyle you want for yourself. Come of age and step forward toward the vision of making progress in prosperity you have for yourself. Put your mental power to work and bring your profitable goals to a happy issue; seek and increase measures that have worth of being safe in your investments and build financial system of force you need to crown your life with success.

You do not owe money; you own your own home! You must have an attainment which shows that you are of age and have what it takes to work for riches that is making your old age golden; have motive and motivate yourself towards enhancing your potent asset and increasing your value on the open market of just regard.

Gold is not for a goldbrick! Golden-age is golden for a golden-ager who got wise to a gold-mine at the may of life. Be good as gold and develop the power of controlling your actions, impulses or subjective responses in getting your longing for an instantaneous satisfaction that is highly acceptable to the five senses better. Do not sit on a goldmine, strike the gold! Set aside a portion of your income and set your course for wealth-building. Use a portion of your wealth to supply your young hopefuls what they need with a store of capital. Provide for your children's future, your old age, your state of well-being, your state of being sound in mind and, aegis of your own flesh and blood.

Money is a component that forms part of the minimal body, character or structure of the good life. Believe it or leave it, it is part of your life; you need it to do superexcellent, superincumbent and superabundant things. You must allow money to come forth abundantly to you in all instances; put it into service for the purpose you want and have the life of ease. Cash is the right of casting the die, taking the first place in your world, holding the reins, or exercising your right without intimidation but availing yourself of your ability and adequacy to call into being the lifestyle you wants for yourself. Have an entrepreneurial mindset and propagate your own prerogatives. Increase your acquaintance with facts and skills; also increase your preferences and earning power.

The quality and quantity of products or services you provide to the general public is very important when it comes to making money and building wealth. If you can serve more people with your products or quality services, you will definitely make more money through out your life and even beyond the depth of your living. Have a lifestyle that is marked by a gracious and entrepreneurial spirit; direct your money and time rightly either with the services you provide, the products your businesses provide or the time you have to devote to other people.

Copyright by Anyaele Sam Chiyson








ANYAELE SAM CHIYSON, A Writer, Computer Scientist, Leadership expert, Marriage Counselor, Business Consultant; an Electrical/Electronics engineer, Info-&-Entrepreneur is the Founder/CEO of Chiysonovelty International & Head of Operations - Before40 Youth Empowerment Foundation for better Citizenship. He has created businesses and raised authors of credibility. He has authored works of wealth and wisdom including a Best-Selling Knowledge Book - The Sagacity of Sage. He is also a Motivational/Inspirational/Financial speaker; an immortal who believes in inspiring all and sundry live a healthy, happy and totally-fulfilled life. His Soon-to-be-released Book - The Richest & Strongest Man in The world is an invention that would ignite/initiate the desired changes that eluded the World's brightest and smartest minds and the key operators of the world's largest economies; it is the choicest one!

His work - The Sagacity of Sage is more than a book and a must-read for every man and woman! And you're just away from getting your own sagacious copy. See links below.

http://www.amazon.com/Sagacity-Sage-Anyaele-Sam-Chiyson/dp/1592321534
http://www.blackbookplus.com/The_Sagacity_Of_Sage.asp

Be Creative and Innovative! Rule your world and impact the world.


Making Your Cash Flow Work For You


In the last segment I looked at the net worth statement as your gauge for determining the progress of your financial plans. Maintaining a record of this calculation on an ongoing basis will build your confidence over time and reduce the stress of financial issues. My recommendation is to update the net worth statement quarterly[i]. Breaking the year into set financial segments gives a higher level of feedback and allows for adjustments before a budget variance can become a problem. So, now that you have a snapshot of your current situation, what's next?

Cash Management Planning: The Business of Family Life

I believe that looking at your family finances as a business will empower you to be objective in evaluating and correcting changes as they come. Financial issues have, perennially, been the cause of many family and individual conflicts[ii]. Separating it from the emotional side of life will eliminate the finger pointing, and make every person accountable for achieving the goals set. Every member of the family has a stake in the results, and so, as a stakeholder, will be more inclined to work together toward better management. Even in individuals, being objective will bring focus. What are the steps?

Establishing a cash management plan works to ensure that:

1. You can maintain family operations.

2. Provide an adequate emergency fund to handle unanticipated events.

3. Build a portfolio of productive assets.

4. Reduce the chances of illiquidity.

5. Create and maintain a solid savings plan for milestones like educational needs, retirement, and other long term goals.

Financial independence is achieved by managing these five areas assuring that your net worth grows in step with the goals you have set. If resources are not able to meet the goals you set, then, they or your goals must be revised to fall in line with them. Lack of control over cash flows is the most prevalent cause of financial problems. Hopefully you can see why this is an ongoing process throughout your life; because, life and its circumstances change and evolve over time.

Addressing the items above requires assembling a budget. WOW! NO, NOT A BUDGET! Immediately thoughts of constraints, having to "make do", and images of Ebenezer Scrooge beating you with a cane cascade through your consciousness. I'm right, aren't I? Settle down. This is the most misunderstood process ever. Contrary to what the word has come to infer, it is not about what you can't do, but, about what could be with the resources available. Budgeting is about projecting cash flows and verifying their feasibility versus the actual income and expense. In identifying discrepancies you are in control of how your assets are allocated, then you are managing, rather than being managed by, money. Budgeting and tracking your expenses gives you a strong sense of where your money goes and can help you reach your financial goals, whether they are saving for a down payment on a house, starting a college fund for your kids, buying a new car, planning for retirement, paying off debt, or saving for a trip to Jamaica.

As with the net worth statement the place to begin is gathering the information. What will you need?

· Pay stubs, and two years tax returns.

· A quarter's (three months) worth of bank statements.

· Credit card statements.

· Checkbook records for a quarter.

· Statements for all utilities and other services you use.

· Employers benefit statements.

· Financial account statements.

· Budget Worksheet[iii]

The second step will be estimating your future income and expenses. Separate income and expense items into two categories: fixed and variable. By fixed I mean those items that do not fluctuate; for example, if you are a salaried employee, the amount of your monthly income would be a fixed item. For expenses, the mortgage (or rent) payment, car payment, insurance, etc. would be a fixed expense. Variable then would be those that change from period to period. Ideally, prior to finalizing your budget projection, you should track your day to day expenses of cash out of pocket items, writing them down in a small notebook or entering them into an expense tracking app available for smartphones and iPods. Once again, this will help, not in castigating yourself but, to enlighten you about where the money goes. The whole point is to let you make a conscious decision about your financial life, letting you prioritize your goals and objectives. Don't be obsessive about it, though; I don't want you to end up facing a corner talking to the accountant in your head or anything.

Next, fill in the worksheet[iv]. The idea is to create a base-line. Your actual income & expenses can be entered in giving you a better understanding of where the money flows. Build your projected budget using the statements you gathered earlier.

There are many details to creating a complete budget, and it is important to have the detail because it will produce results once it is organized. I have worked with clients of all income and net worth ranges and creating a budget is the hardest part of planning. It really puts it all in black and white, and hopefully not red. Seeing the stack of income and expense statements may make you feel a bit overwhelmed. Take one piece at a time. Start with the income sources. Be aware that even on your paystub there are expenses that have to be noted: contributions to company retirement plans, insurance deductions, taxes, etc., will show up on those forms.

I hope that as we progress through these first steps it will help move you to become more empowered about your money. By the same token, I want all of you to understand that there are many interrelated parts to your financial life. My intention is to give you a starting point to organize and be able to contemplate how cash flow functions. I look forward to answering your questions as we move along...

Next time I'll continue with building the budget, then looking at what it's telling us.

In the mean time, be smart, be vigilant, but most importantly... Be wise!

[i] I recommend that you consider a personal finance program like Quicken®. It has some valuable budgeting and reporting features that will help you work with your advisor. If you don't have the software, Microsoft® Word or Excel as well as other word-processing and spreadsheet programs offer templates available on their website.

[ii] Coping With Financial Stress

Emotional / Financial Stress

[iii] see note(i)

[iv] See note(i)








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Warning: Redundancy Could Seriously Damage Your Health


A Special Report on the Hidden Cost of Change for the Civil Service and Public Sector

The hidden cost of change - dealing with redundancy

The hidden cost of change is almost always overlooked by HR teams, outplacement agencies and even your own line manager.

At best, you may get a few sessions with an outplacement agency that will help whip your CV into shape and give you a few interview tips. You may possibly also get some in-house counselling advice if you are feeling "under the weather".

Whilst you are marched through the redundancy procedural sausage machine, everyone ignores the fact that you may still be feeling unprepared and overwhelmed - in shock, or in denial, and angry at what is being done to you and how you are being treated.

The emotional state that you find yourself in is further brushed aside as the culture of "stiff upper lip" means that you brave it out- especially if you are at managerial level and still have to hold the fort and continue to help others through the change.

However, this is exactly the time when you need to understand how you may be responding emotionally and how you may need to cope with the overwhelming feelings whilst trying to carry on.

This report highlights the human cost of change which could cause longer term damage to your health if not properly understood.

If you are faced with redundancy, you must read on.

Change is a fact of life. Positive or negative, most of us have a strong response to change.

Any period of change, between something ending and something new or different starting, requires a transition. This is where we have to let go of the old and embrace the new, move from the familiar to the unknown. Even though we may think we know why we are facing redundancy at work, we may feel we are no longer in control or know what the future holds or where we stand; we may feel we no longer know what to do or how to manage; we may lose our understanding of where we are going and why; we may feel the loss of our familiar contact and friendships with colleagues and co-workers if this disappears.

How we react to change depends on how it is initiated - whether we have chosen it or whether we feel it was forced on us and out of our control.

Most people go through a sequence of emotional reactions to change:

? Initial shock at the news

? Denial that it's happening to them

? Blame -others or themselves for the issue/ problem

? Anger

? Uncertainty or evendepression

? Experimentation and a move towardsacceptance of the change

? Integration of the change into a new way of working, or a new way of life

It may be helpful to think of the transition process as descending into a valley and then climbing back out. This is demonstrated in the "The Change Curve" as developed by Elizabeth Kubler-Ross.

It is important to remember that although most people will experience each stage, not everyone will go through every stage, and you may jump from one stage to another, or even swing back to a stage you have already been through. How long you spend in a particular stage may vary from days to weeks to months. Change affects people differently and often in waves of emotions in varying intensity.

How you experience each stage and how quickly you move through the transition, depends on your ability to:

1. Identify and acknowledge where you are on the change curve

2. Develop coping strategies for each stage

3. Make sure you have the level of support you need

By following these 3 steps, you can develop your own change readiness and resilience, and equip yourself to self manage and support others through the transition, so let's consider each of these in turn.

1. Identify and acknowledge where you are on the change curve

Tip: To help you know where you are on the change curve, be aware of how you are feeling and pay attention to how you are behaving.

Stage 1 - Shock

Initially you may experience shock and surprise to the announcement of being made redundant. Think back to when you heard the news about the radical changes in the public sector. Huge job losses in your Department or Agency. Spending cuts of up to 40%. How did you feel? You may have experienced an initial adrenalin rush, followed by a kind of numbness, almost as if you were not feeling anything. It is possible you may act as if you are carrying on as usual but actually you feel dazed or confused. If you feel like this, then you're not alone. A lot of people go through this when they've been given bad news. The key thing is to recognise this.

?

Stage 2 - Denial

The second stage is one of denial, where you tell yourself that this isn't really happening, or if you ignore it, it will be soon be over and it won't affect you. This is a perfectly natural defence mechanism and it may take some time to move through this stage. However, some people can stay 'stuck' at this stage. If you are aware of feeling this way, you can get the information and support you need to move through it.

?

Stage 3 - Frustration or anger

During this stage, you may become aware of the negative impact on your self-esteem. Is my role being targeted for redundancy because I am just not good enough? You may feel you want to withdraw from what is going on at work or notice a drop in your performance. You may feel powerless, and experience both anger and frustration. This stage is often accompanied by a tendency to blame others, including those close to you. It's my boss's fault for not managing the budget in the first place. If my partner was more supportive I would have been able to move to a different role sooner.

?

Stage 4 - Depression or uncertainty

At this stage, you may feel despair and hopelessness. What am I going to do? How will I cope? Everything seems pointless and without purpose. Self-confidence is at its lowest ebb. The dotted line on the curve illustrates if you remain here, ongoing depression and a loss of self esteem can set in. This is why acknowledging if you are at this stage is critical, as is getting the right support as soon as possible.

?

Stage 5 - Acceptance and experimentation

Once you accept the situation, you can start to move on. This is where people who have not given up entirely and opted out of the process, start to consider the potential and possibilities in the new situation and experiment with new things with emotional neutrality. Could this be a genuine opportunity for you? Is there a different job you have always wanted to do, but never felt you had the chance? People genuinely explore options during this phase, and with action, their personal performance and self esteem increases.

?

Stage 6 - Actions and decisions

As you begin to take action, you become clear of what interests you and what does not. You start deciding what works and what does not. You are coming to terms with what is happened and start feeling optimistic and positive about your career and your future.

?

Stage 7 - Integration

This is where you have begun to integrate the changes into your life so it becomes part of the way you now do things. You have moved through the transition and your self confidence has returned.

?

2. Develop coping strategies for each stage

?

Tip:There are different strategies to help you manage yourself and help others through the broad categories of Denial (stages 1-2), Resistance (stages 3-4), Exploration (stage 5-6) and Commitment (stage 7).

?

Dealing with Denial (stages 1-2)

?

Be patient with yourself and others. Make time to discuss the implications of the change. Get as much information as you can so that you can make informed decisions going forward.

?

Dealing with Resistance (stages 3-4)

?

Listen and empathise. Offer support, help and encouragement to others and find this for yourself too. Consider working with someone who will support you like a mentor or coach to help you identify and understand the obstacles and barriers that may be getting in your way, and to develop goals to help you move forward.

?

Dealing with Exploration (stages 5-6)

?

Encourage calculated risk-taking and learning in yourself and others. Dare, dream, discover. If not now, then when? Ask for help and give yourself the time and opportunity to brainstorm and explore all your options.

?

Dealing with Commitment (stage 7)

?

Reflect on the change you have experienced. Review how you responded to it. What have you learnt about yourself through the process? What actions have you taken? What would you do differently next time? Celebrate what you have achieved and the steps you have taken so far.

?

And remember...

?

Each stage requires a different approach and may vary in time for each individual. For example, it is possible you may go through stages 1 to 4 repeatedly before breaking through the 'pain barrier' and coming to terms with the new situation.

?

You can movebackwards along the curve from Exploration to Resistance if you come up against a disappointment, but the overall movement will be towards Commitment to a new role, a new career direction, a new way of working.

?

You can'tgo from Denial straight to Commitment in one step. If you do, there's a real danger that you'll swing right back to Denial, at the first setback - this is often known as 'The Tarzan Swing'!

?

And finally...

?

3. Make sure you have the level of support you need

?

Tip: Create your own Transition Success Team.

?

During times of change, we sometimes feel that we have to struggle through each of the stages and 'go it alone.' In fact, the opposite is true. If you want to accelerate your transition and fast-track your results, gather a talented team around you to stretch you and support you. Include trusted family and friends who will champion you. Work with a coach or mentor who has a track record of success l and who you know will help you set clear goals and keep you on track. Two (or more) heads are better than one. Become a member of a mentoring group of like-minded professionals, so you can tap into each others' experience, expertise and support each other and use the group as a peer advisory board to help you during the transition period and beyond.

?

If you would like to know more about getting mentoring support, then please contact us on info@civilservicejobscoaching.org.








Christine Smythe
Civil Service Career Limited
145-157 St John Street
London
EC1V 4PY
christine@civilservicejobscoaching.org 020 7873 2477


Tuesday, 30 November 2010

Contact Management (CRM) For Small Business - What Works Best?


Contact management for small businesses is a big deal often having a big impact on your bottom line. After all how well you connect and stay in contact with customers (and potential customers), track and manage your sales and marketing data, and drive business to your company is crucial to your overall income numbers.

Here is a quick "Guide" with strengths and weaknesses of three CRM software packages I'm comfortable recommending:

1. Salesforce.com

PROS: Integration with dozens of 3rd party tools including marketing automation. Hands down the most powerful import functionality of all CRMs. Salesforce.com allows you the most flexibility with mapping of data ..... and gives you full control of what data gets overwritten, merged, and updated. It is also easy to use and quick to navigate.

CONS: Expensive compared to other alternatives. Little to no contractual flexibility.

2. SugarCRM

PROS: Nice interface and powerful customization, most powerful if you count the ability to edit code. Flexible contract terms. More cost effective than Salesforce.com in the OnDemand version and free if you host the Open Source version yourself.

CONS: Little support for third party applications out of the box. Import process is limited in that you can only overwrite, versus update existing data records. This can be bad if you like to regularly update your database and import tradeshow and other marketing data.

3. QuickBase

PROS: Month to month contract terms, ability to host unlimited instances or have unlimited applications. As low as $15 per user per month. Easy customization.

CONS: Tedious import process with no ability to update certain fields versus overwrite. Little to no ability to connect to 3rd party applications.

My friends use Salesforce.com for their sales and marketing. They use Quickbase for delivery of their services.

Tidbits on a few others - Act and Goldmine require more IT resources for multi-user environments, and you will have trouble with people not syncing often enough. I have yet to meet anyone who has used Microsoft CRM and liked it.

Whatever program you choose really depends on what are your priorities and needs within CRM. Is it sales driven, customer service driven, internal help desk driven, campaign management drive. There are always some niche tools that are for specific needs and still people develop custom development. Proposal Making is a separate software in the CRM space for instance.

One thing to always remember when selecting, and integrating any CRM product. Installing and running the CRM is the easy part, no matter which one you chose. The hard part is tailoring the CRM's robust feature set to the unique aspects of your business, your sales goals, and the personality of your sales team. This tailoring will cost far more, take far longer, and incite far more arguments than you could ever imagine.

If it's so hard, then why even do it? Because that IS the payoff for CRM. A lot of people spend a lot of time analyzing all the features and choosing one CRM over another, and my point is, the feature sets aren't what matter.

The real beneit of CRM software isn't the automation, it is that in automating, it forces you to have all those tough arguments, make all those tough business decisions, and have all those debates about sales philosophy.

And if you do it right, you will be richer for it, no matter which software you choose.

CRM isn't simply contact management on steroids, it is your company's opportunity to identify best practices in customer life cycle management, codify those practices into defined processes, and an automated system to help your sales force understand and follow those practices.








Michael is the owner of FreedomFire Communications ... and author of Broadband Nation. Michael also authors Small Business Resources Cafe with resources, tools, tips, & insights for small businesses. The Cafe is always open. So ... grab a cup of Joe & sit awhile!


Your Disorganized Office May be Costing You Money


John is a busy, self-employed, plumbing contractor. His business keeps him in the field five to six days a week, so the only time he has to take care of paperwork is in the evenings and on weekends. He shares his home office with his wife, who works outside the home, but also manages the household business from this office space as well. All the management details of his small, but growing business are up to John.

John is a typical small business owner working from his home, and like John, you could be losing money because you do not have simple and efficient office systems set up in order to manage paperwork. You may be paying penalties for late payments, important paperwork could be lost in piles of unopened mail, and then there is the wasted time just trying to find things. Your small business office is the nucleus of your business, the center where new orders and paperwork are being generated daily.

The US Bureau of Labor Statistics estimates that there are now more than 18.3 million home based businesses in the United States and 53% of small businesses are home based.

Is the story of your office one of efficiency and productivity, or is it a sad story of loss and confusion? If your office is in a state of confusion, there are four key areas of your office that you can improve right now and take your business to the next level.

Time Management

Develop a time management system so that precious time is not wasted going in circles because you don't know where to start. Time management is not about working faster - it is the practice of spending more time on the right things. Prioritize your time, and learn the difference between important and urgent. Important tasks help us achieve long-term goals. Urgent tasks may need immediate attention to avoid a crisis, but are not necessarily important in the long term.

Make a list, but limit it to six items or less, otherwise you may be overwhelmed. Eliminate distractions, schedule time for planning, and learn to use some kind of calendar, day planner or PDA.

A Filing System

You need to be able store and retrieve documents efficiently. This includes paper and computer files. Each business has it own filing needs, and each business owner has their own work style, so develop an appropriate system for your business needs. You should be able to put your hands on any given document, or piece of information in 30 seconds, or less.

You will need a system to manage working files, as well as permanent files. The permanent files need to be labeled with a specific retrieval system in mind, such as by categories, alphabetical, numerical or whatever system is appropriate for your requirements. Choose fixtures and cabinets that will best accommodate your files as well as particular storage needs, for special items such as photographs or blueprints.

A Bookkeeping System

Good bookkeeping practices are essential for a number of reasons. You will need exact information for financial statements, which are necessary for business loans or lines of credit. When you can track all your deductions, you may pay less in taxes. You will be able to forecast your business trends when you have accurate records, and if you decide to sell your business, you will need precise information in order to determine the true value of the business.

QuickBooks is probably the most widely used computer software to track all your business finances, and at the end of the year, all your data is ready for income tax purposes. There are other easy to use systems, as well as bookkeeping services to take care of details you may not have time for. You may have a vibrant, active business, but if you don't keep up to date and accurate records you may be losing money and not even know it.

Clutter Control

How distracting is it to sit down at your desk to find the remains of yesterday's lunch, magazines, mountains of paper and no sense of where to begin? It's not only distracting, but also costly, in terms of your precious time being wasted because you are not on task while shuffling piles, or housecleaning just to get to the desktop.

Get your desk set up so that there is a designated place for everything. Working files can be accessible, without being scattered everywhere. Keep the business cards in a card file, or a Rolodex so they are tidy and easy to find. Sort your mail every day next to the wastebasket, and throw away the junk before it turns to clutter. Don't let your office be a dumping ground.

Your office is so important to the health of your business. Don't let a disorganized office hold you back from the growth and success you deserve. When your office is efficient and organized, you will be more productive with your time, and you will reduce the level of stress in your life. Be proud to bring clients in to the office for meetings and consultations because you have an office that reflects your high professional standard and a smoothly run operation.

If you feel that you need help with getting your business office working in a more efficient and productive manner, call a professional organizer, who can review you business needs and the space you have to work with, then develop and implement systems specifically tailored to your business.








Sandra J. Carroll is a self employed consultant and a freelance writer, with over 30 years of business experience. Her company, Creative Changes provides practical solutions to the organizing, space planning and storage needs of homeowners and small businesses. As a small business owner, mother, and owner of two homes Sandra has first hand knowledge of the challenges that entrepreneurs and homeowners are dealing with every day. Sandra studied business and humanities at the University of Arizona. She lives and works in the Palms Springs area of Southern California. For more information about Sandra and her professional organizing business, please visit: [http://www.creative-changes.com]


How to Improve Control of Your Finances - Five Keys to Personal Budgeting


Personal budgeting is a mental game. One way to play and win is to train yourself to run your life like a home-based business. Consider the cash you carry in your pocket much like a petty cash account entrusted to you by your employer. You need to maintain a level of accountability over even your most trivial purchases. Do you pay for services out of convenience or necessity? For example, you can't easily do your own dry cleaning but you can reduce the bill! You can also take the car to a do-it-yourself car wash, do your own gardening, shovel your own snow, and file your own personal income tax return.

If you were running a business, you would typically expect "your money's worth" from an employee. You would expect accountability. Why not apply these same standards to your own day-to-day personal affairs?

1. Track your spending (recording what, when, where, and why) and teach yourself to save money on a transaction by transaction basis rather than by setting an abstract daily, weekly, or monthly goal. Focus on impulsive spending habits AS THEY OCCUR rather than on a vague "dollar" goal you want to save over a period of time. Disciplined behavioral patterns of individual spending provide a better foundation for long-term financial habits than an end-of-day/week/month accounting of cash.

2. Look for specials price offerings in your local newspaper. Avoid any form of media that encourages impulse buying like, for example, television infomercials or celebrity endorsements. Always comparison shop. Save money by avoiding retail priced goods. Buy irregular or 2nd hand items and clip coupons for discounted rates or rebates whenever possible.

3. Avoid browsing shopping catalogs especially during major holiday seasons like Christmas, Valentines Day, Mother's Day and Father's Day. While buying gifts for loved ones is difficult, decide whether to make personal purchases based on your "needs" rather than your "wants".

4. The admonition to never go food shopping on an empty stomach is worth consideration. Similarly, discourage yourself from immediately buying an item you have just seen by putting some measure of time between the first encounter and the final purchase. If you feel the urge to buy something while shopping in a store; walk outside and around the block before you decide to return and part with your cash.

5. Cook your own meals rather than eating out at restaurants or on the road. Avoid take-out or fast food services because even they are typically more expensive than shopping for and preparing your own meals. Minimize your travel and entertainment expenses especially when there are cheaper alternatives for having a good time.

Personal budgeting is more than just adding numbers; it is a mental game of discipline and self-control. Reduce as many expenses related to unnecessary purchases and services as possible. Consider maintaining a budget as an opportunity to take control over your money and teach yourself to run your life like you are running a home-based business!








Phillip Schein is an author and consultant specializing in key areas critical for successfully running a home-based or small business. Phil's background is in Ecommerce, accounting and information technology where he has spent over 15 years in various levels of corporate management, as a business consultant, and a corporate trainer. He has published several technical books. Originally from New York, Phil now lives in Las Vegas, Nevada because he enjoys the warm weather. One of his current business websites is http://www.runningahomebasedbusiness.com You can contact him through his business website http://www.rainorshinesoftware.com


Effective Motivational Skills For Today's Managers - Life Lessons


Preview

Motivated employees will work more effectively in their jobs and do more to further the bottom-line objectives of a company than unmotivated employees. As a manager, you are in a position to increase the motivation of your employees. This basic managerial skill training in motivation will enable you to become a more effective manager for yourself, and for your company. You will learn how to handle motivational problems, which will help you gain 100% effectiveness of your employees.

What Should You Expect From This Article

As you know, motivation is a complex issue. Many psychologists and researchers spend their entire life investigating people's motivation to perform. Similarly, there are many books currently out in the bookstores promising to give us the secret for "getting others to do what we wish."

There are many theories of motivation; and different techniques to solve motivational problems. Rather than attempting to review all these theories, the purpose of this module is to look at six common motivational factors which will make the difference between employees who are motivated and employees who exhibit motivational problems. We will use only as much "theory" as needed to gain basic understanding of each motivational issue. Primarily we will discuss what you can do to solve the motivational problem.

Learning Objectives

Upon completion, you will be able to:

o Recognize what types of employee behavior problems are motivational issues and which are not.

o State in simple language what is the real motivational factor behind different types of problems encountered as a manager and what you can do to correct each problem.

o Apply appropriate steps or response to resolve the motivational problem.

o Motivate average and above average performers to perform even better.

Training Format

This article is designed to do more than just give you information on motivation. Rather, it is set up to teach you skills which you can apply in your day to day jobs.

This will be accomplished by the use of exercises that require your involvement. Active participation will enable you to learn "what to do and how to do it," better than passively sitting back and being an observer. Keep this in mind as we proceed.

Manager's Methods Motivate

Many management experts agree that the key to employee morale and motivation is the quality of supervision they receive from their supervisor. It is for this reason that most businesses invest much time, energy, and money in the selection of their managers followed by in-depth training. In fact, this information is designed to assist you, the manager, in developing methods which have been "proven" to produce the highest possible motivation in your employees.

Who Is Responsible For Motivation

Managers share the responsibility in motivating their employees with the individual employees themselves. The manager is 100% responsible for establishing a motivating climate in which the employee works. The employee is 100% responsible for taking advantage of the motivating climate to perform the best they can perform.

Detecting Motivation Problems:

Focus On Behavior

Motivation is not something that we can directly see. That is the major reason why it is so complex. Instead, we observe a situation and notice that some action, tasks, or behaviors that should have occurred, have not occurred. Frequently, we call this a "motivation problem."

Like a detective, we must be aware of clues which hint of a "motivation problem" in an employee. These clues are behaviors.

Focusing on behaviors has several advantages:

o Behaviors are observable; they require only our attention-not complicated psychological analysis.

o Behaviors are objective; they are not easily open for mis-interpretation.

o Behaviors are measurable; we can count how many times a certain behavior occurs.

o Behaviors are specific and concrete; not abstract like the concept of motivation.

Begin by asking yourself, "What is he not doing? What behaviors, actions, or tasks should she be doing?" Be as specific and precise as possible. "He is not doing it the way he is supposed to" or "she is not committed" or "she has a bad attitude" are not specific behaviors. State the problem in terms of behavior.

Behaviors That May Indicate A "Motivational Problem"

As we have said, instead of focusing on the abstract and complex concept of motivation, go right to the behaviors from which we suspect the "motivation problem."

Motivation problems can be suspected from such behaviors as:

o Reduced quantity of work output.

o Reduced quality of work output.

o Extended lunch and break times.

o Frequent tardiness.

o Frequent absenteeism.

Motivation Worksheet 1 - (Take a few minutes to answer these questions.)

1. What behaviors indicate "a bad attitude" or "no commitment" in an employee?

2. Think of a particular unmotivated employee that you currently know or have known in a previous position or job. What specific behaviors did this person exhibit (or not exhibit) that leads you to believe they have a motivation problem?

3. List behaviors that you demonstrate when you are feeling unmotivated to do a task?

Selecting "Motivated Employees"

It makes our job of motivating employees much easier, when we start with employees who are "highly motivated." In other words, motivation comes easier. when we have the "right person for the job." The "hiring of motivated employees" is a selection decision. Make sure you identify the job-related skills a candidate possesses by thorough questioning. In this way, the job skills an employee possesses can be matched with the job skills required for success on the job. When a match occurs, we can feel confident that the person is the best candidate for the job.

In fact, a job candidate that was motivated to learn these key identified job-related skills in the past, will be motivated to use them, and learn additional skills, in the future. All personnel selection decisions are based on the theory that how a person performed in their past job predicts future job performance in a similar job-a job candidate motivated to perform in the past will most likely be motivated to perform in a similar situation in the future. Aim to improve motivation among the workforce by selecting job candidates who demonstrate job-related skills required for success with your company. The selected employee whose job matches their skills will show motivation to do a good job, a greater liking of their job, and a longer stay at their job.

Motivation Worksheet 2 - (Take a few minutes to answer these questions.)

1. Think of a position which you manage. Focus on the job, itself. List the job-related skills for this position. In other words, when interviewing to hire a candidate for the job, what skills should the candidate possess to be successful on the job?

2. In an interview, what might a job applicant say or do to indicate high motivation?

3. List two to three questions that would allow you to test their motivation level?

Training for Success

Training teaches people new skills, new procedures, or new information. It does not directly teach "motivation." However, training accomplishes something more-maybe a little harder to see-but still extremely important. Training can give an employee the ability to be successful. Employees who show signs of lack of ability can be taught how to perform correctly. Ability produces success. Success is a large motivator. Success breeds more success. Success produces pride of accomplishment; it fuels ambition; it increases personal goals; it increases performance.

Remember: Training produces successful performance and success motivates.

We must look at the problem behavior and decide whether the employee has the ability to do the task. Examine the ability of the employee. Ask yourself: "Does the employee have the knowledge or the skills to complete the task or job successfully?"

Consider the following about the employee:

o Prior work experience.

o Job related skills.

o Completed any of your company supported training programs.

o Special instruction, coaching, or tutoring.

A person with low ability, can be taught, trained, and coached to perform successfully. Once they feel that "good feeling of success" and all that comes with it (pat on the back, acknowledgement, and pay increase), their motivation may increase.

Be advised though, that there are two problem situations you can run into. First, some employees may require so much extra training, teaching, coaching, and tutoring before they attain some success that it requires more on your part than you can realistically give. In this case, you might have to realize that the employee "lacks too much" and other action is required.

The second problem situation is that some people who receive training and accomplish successful performance may still not show an increase in motivation. This can be due to other reasons which we will soon explore. Training is only one of many factors which play a part in motivating employees.

Remember: While training does not guarantee an increase in motivation, it can pave the way for greater motivation.

Motivation Worksheet 3 - (Take a few minutes to answer these questions.)

1. List specific behaviors which indicate poor motivation in an employee you manage.

2) Does the employee have the knowledge or skills to complete the tasks or job duties successfully?

3) What training programs currently exist that can teach, train, and coach the employee to perform successfully?

4) What existing employee could you have them work with to improve their performance in weak areas?

Motivation Through Communication and Goal Setting

Communicating what we expect from our employees and setting appropriate goals for which they should strive plays a big part in their motivation.

In order for employees to do a good job, they must know what it is they are expected to do. This direction comes from you, the manager. The manager has the responsibility of telling the employee in specific, concrete words:

o What should be done

o When to do it

o Where

o How, to proceed step-by-step

o Who else is involved, why it is important, etc.

The manager knows what constitutes a "good job;" ask yourself if the employee has the same understanding of what would be a "good job." When an employee thinks that he or she has given 100% while the manager thinks that the employee has only given 60%, the problem is not motivation; it is communication.

To determine if the problem behavior is a result of a breakdown in communication, the manager must ask herself, "Did I talk to the employee about my expectations?" That is, we as managers must determine whether we discussed objectives, duties, responsibilities, deadlines and performance. (How we communicate is an entirely additional, yet related, matter that will be addressed in the Communication Skill article). It can be difficult to look at our own behavior as managers, but we need to discover if we have contributed to the problem.

Not only must you, as a manager, tell the employee what needs to be done, but you must also make sure the employee understands your directions as you intend them.

An effective manager accomplishes this by:

o repeating directions

o Cclarifying instructions

o Demonstration

o Checking for understanding

o Observing progress

o Double-checking

o Follow-up

Remember: Good communication prevents misunderstandings and paves the way for employee motivation.

Goal Setting

There is one particular type of communication that has been repeatedly shown to be effective in improving employee motivation. This is the communicating of goals or objectives.

A goal or objective is simply a task we are attempting to accomplish. Goals direct our behavior. They help us follow a straight-line course to our ultimate objective. They prevent us from being like leaves being blown helplessly by the wind.

Goals and objectives foster motivation. We see the progress we are making toward our goal. We feel we are getting somewhere. Without goals, it is not always clear when we have been successful. Goals serve as a yardstick by which to measure our accomplishments.

Some objectives are too broad in scope to strive for directly. For example, to increase profits is a difficult goal to tackle all at once. Large scale goals need to be broken down into intermediate goals. Even intermediate goals sometimes require smaller goals that can be accomplished in a shorter amount of time.

A goal should be (using SMART acronyms):

o Specific: it should include who, what, where, when and how built into it.

o Measureable: progress toward the goal should be recorded frequently.

o Attainable: it should be reasonable and realistic; there should be a very good certainty of accomplishing it.

o Realistic: should also pass the reasonable and realistic test.

o Timebound, set and agreed to mutually developed: the highest motivation will occur when the employee plays a part in setting the goal, together with the manager. The employee should have input setting the goal.

Motivation Worksheet 4 - (Take a few minutes to answer these questions.)

Think of an employee that has a motivation problem. Focusing on the employee's behavior, write 3 goals for the employee to attain that will bring his work performance "up to par".

1)

2)

3)

Motivation Through Appraisal and Feedback

One of the most powerful ways to change the motivation of an employee is to appraise how he is performing his job duties and then to feed this information back to him.

I suggest you use two separate systems to provide employee appraisal and feedback. The Employee Performance Review (by whatever name you call the form) evaluates the job performance of individual workers in terms of pre-identified objectives and clearly notifies the employee "how they have done" in achieving these objectives. The Progressive Discipline System (by whatever name you call the form) also evaluates the job performance of individual workers in terms of job expectations and then clearly notifies the employee "how they have fallen short" in working up to these expectations. Although Employee Performance Review emphasize positive performance while Progressive Discipline emphasizes undesirable performance, both work in exactly the same way: they provide feedback to the employee on how they are doing in reference to a standard.

This can produce motivation in an employee. First, it communicates to the employee exactly, "where he stands," and secondly, it points to what type of coaching, counseling, or information the employee requires to get to "where he wants to go or sometimes must go."

Appraisal and feedback systems are ways to tell the employee that "she is on the right track." If not where they should be, this in itself often provides the motivation to self-correct and "get back on track."

Both of these programs are made even more powerful and hence motivating by the consequences attached to them. The result of a "favorable" performance appraisal can mean an increase in salary-a very definite motivator for some people. The result of an "unchanged" progressive discipline report can mean suspension or even separation of employment, a very definite motivator in the sense that employees will work to avoid the negative consequence.

Remember: Appraising employee performance through Employee Performance Review or Progressive Discipline and feeding back to them the results motivates by "pointing the employee in the right direction"

and "making clear how far they must go."

Motivation Worksheet 5 - (Take a few minutes to answer these questions.)

1) Think of an employee you manage who did not perform to your performance standards on a specific task.

2) What was the desired performance?

3) Describe the feedback you should give immediately upon completion of the task so the employee "gets back onto the right track".

4) How would you "point the employee in the right direction" by using an Employee Performance Appraisal or Progressive Discipline?

Motivating Work Assignments

Ideally, the work itself should be highly interesting and hence motivating to the employee. This is partly determined in the selection process where job candidate's skills and interests are assessed and compared to the requirements of the job. When delegating tasks be sure to consider the skill level of the parties involved, the needs of the job, etc. as well.

Even after a job candidate is hired, placement of the employee into a specific work assignment can foster or stifle motivation. For example, a stereo buff would be more highly motivated to sell stereos or other electronic products than draperies.

Employees can have different preferences in many ways:

o Some employees may prefer a large variety of different job duties whereas others may prefer only a small set number.

o Some employees like to face challenge and complexity within their job whereas others may prefer the simple or routine.

o Some employees may prefer to work independently, apart from others, whereas other employees prefer to work in an area with other employees.

o Some employees may prefer to work on tasks where they can receive instant feedback on their efforts, whereas others may not require such instantaneous and continuous feedback.

The point is that you can increase the motivation of your employees if you can match their need for different degrees of autonomy, variety, challenge, complexity, and feedback to the available work assignments. To the best that you can, tailoring the work assignments to the employee's primary needs and abilities, will result in a higher level of performance from that employee.

This is not to suggest that you should bend to every desire of an employee.

Meeting an employee's individual interests on the job will help that employee like their job more. They in turn, will be more willing and motivated to help the manager achieve bottom-line objectives. When both get what they respectively want, then a win/win situation exists. The manager wins because he will have a motivated, effective employee; the employee wins because his needs are met.

When an employee knows he is benefitting, he will be motivated to perform better. If an employee gets to do parts of his job that he likes to do, then the employee will be more willing to do those things that have to be done as well.

See what your employees would like to gain from their employment besides money. Ask, "What else does this employee want from his job here." Some answers might be:

o "A good recommendation for future jobs."

o "A chance to learn firsthand about the world of business before going to college and studying business."

o "An opportunity to learn skills like cashiering, customer service, selling, or management, etc."

o "A chance to get out of the house and be around people like other employees and customers."

o "To be aware of the latest market trends, fashions - wanting to be first to see what's new."

To meet people's interests and thus produce greater motivation, a certain amount of compromise and negotiation must take place between a manager and employee. It is difficult to balance the needs of an employee and those of a manager, who is trying to fulfill their company's bottom line performance, but compromise and negotiation gives the manager some control to accomplish both at once.

Motivation Worksheet 6 - (Take a few minutes to answer these questions.)

List the names of employees you manage under the type of work assignment which would motivate them to perform best.

Task Variety versus Set Types of Tasks

Challenge and Complexity versus Simple and Routine Tasks

Independent Tasks versus Working as part of a Group

Tasks which produce instant feedback versus Tasks which produce delayed

feedback.

Do the actual assignments of your employees regularly include the types of assignments most motivating to them?

Rewarding Good Performance

One major reward an employee obviously earns through their work performance is their paycheck. Financial compensation for doing a task is as old as the institution of gainful employment. There has been a development in recent years, however, of a new system of rewarding employees that affects their motivation to perform. This is the concept of paying for performance.

The idea behind paying for performance is simple. Most people, including managers, have the belief that if I do this, I deserve to get that. If I do twice as much, then I deserve to get more in return. What we receive, we say we have earned.

One of the most common examples of a pay for performance system is tipping. The waitress knows that her performance directly affects the tip she will receive. If she does a good job, she can be reasonably sure that she will receive a tip. She also knows that if she does an outstanding job she will merit a larger tip than if she just does the bare minimum.

The employee can feel that their work performance will be rewarded on the basis of merit due to the performance appraisal system. By their performance, they can affect their financial rewards. If they fail to meet their objectives, they won't be compensated as much as if they had met their objectives. If they work hard and exceed their objectives, they will be financially rewarded for the effort; and if they perform extremely well and clearly exceed the objectives, they will receive, or rather have EARNED, a proportionately large pay increase to reward their behavior.

Employee Performance Review is designed to measure performance against a standard so that the quantity and quality of job performance can be reliably determined. It serves as the vehicle for determining merit pay increases.

How To Make A Merit System Motivating

Employees must be aware of the system; that their work performance can earn them additional rewards. They must believe that it is realistically possible for them to earn the rewards. They must believe the system is fair; how much extra they earn needs to be worth the extra performance they "put out." As a result of informing employees of the connection between their job performance and available rewards, they:

o Develop a "winning" mental attitude.

o Set their own high performance goals.

o Increase their performance level.

In order to produce "highly motivated" employees, it is extremely important to pay attention and to actively play a part in influencing rewards for employee's performance. As manager, you have control over these consequences.

Although financial compensation is the primary reward, you are making a serious mistake if you believe that this is the only reward that is important to an employee. Money is not a dependable motivator. In fact, it is true that:

o For some individuals, money is not motivating.

o When employees have the inaccurate perception that only small merit increases are available, money loses its power to motivate.

o Money may motivate just before performance appraisal time, but it can also have no effect on performance the prior eleven months.

In contrast to money, all of the following rewards for performance are extremely dependable:

o Sense of Achievement Recognition of a "Job Well Done"

o Greater Responsibility

o Advancement/Promotion

o Increase Status in Eyes of Others

o Personal Growth

o Appreciation/Thanks by Manager

Any of these can be used in addition to money to reward performance. Each of these rewards can be delivered by you, the manager, in less than 30 seconds. And, they have the advantage over merit increase of being available every day. They cost you nothing-they give you a powerful tool to increase other's motivation.

All it takes is a statement like:

"Joe, you should feel really proud over obtaining a sales volume like you did this week." (Sense of Achievement)

"Sally, I noticed that you did an excellent job helping customers today, especially since you were covering more than one area." (Recognition of a Job Well Done)

"Bob, you have done so well with the routine duties, I think you're capable of handling some responsibilities of a larger nature. How would you feel about becoming responsible for .... ?" (Greater Responsibility)

"Lisa, even though your performance appraisal is more than 5 months away, I want to tell you that you're accomplishing so many things that I'm considering some type of promotion for you, if you keep this up." (Advancement/Promotion)

"I want to announce to everybody at this meeting that Tom has been doing an outstanding job and is a top-notch worker." (Increase Status in Eyes of Others)

"Jane, since you've started, you have really learned the relationship of mark-up to gross margin." (Personal Growth)

"Gary, I really appreciate you doing this. Thanks a lot." (Appreciation/Thanks by Manager)

Motivation of people will be seriously affected, if the consequences of performing is punishing or "makes no difference." When an employee who is working the best they can receives penalties, insults, humiliation, boredom, or frustration, he or she will begin to avoid doing the work and will quickly demonstrate "poor motivation." Few people seek out painful experiences. Thus, if you know that an employee is not working "up to par," explore whether the employee received a negative reaction for doing so. Ask yourself, "is there a negative consequence for doing a good job?"

Conclusion

Motivation is a complex issue. Rather than attempting to investigate motivation in its complexity, this basic management skill training reviewed six common motivational factors which make the difference between employees who are motivated and employees who exhibit motivational problems.

In reality, high levels of motivation are produced by a combination and interaction of these six factors, not by any one factor acting alone.

"Motivated employees" selected for the job will be easier to train; more receptive to communication and feedback; more interested in their work assignments; and more effective performers who will merit reward.

Employees "trained for success" will learn to communicate better; use feedback constructively; and perform their work assignments more efficiently which may increase their interest. All of this in turn, may result in a high level of performance that would merit reward.

Clear communication and goal setting goes hand-in-hand with the objective setting procedures of performance appraisal; aids the learning of new, more interesting, work assignments; and promotes goal attainment which is rewarded.

Appraisal and feedback can bring out the employee's feelings and interest in the work assignment and serve to reward behavior which merits reward.

Assigning "motivating work assignments" enables the employee to meet his interests and needs which will usually result in quality work that merits reward.

Motivated employees will work more effectively in their jobs and do more to further the bottom-line objectives of a company than unmotivated employees. There are six important and necessary factors that need to be considered in improving an employee's motivation to perform. By using the theory and recommendations presented in this article, you can be confident that you will be able to successfully motivate your employees. In addition, you will be incorporating a valuable skill into your managerial repertoire.

Remember, in order to motivate others, you must be Motivated yourself! Have fun, make a ripple...








Chuck Ainsworth, aka The Origami Warrior is a visionary writer who enjoys learning new topics and putting them into easy to understand terms. He brings 30 plus years of Senior Management experience and provides the insights needed to help others reach peak performance by improving their basic Management and Leadership Skills. He currently writes about topics he loves that include: Origami, Origami Warrior Wisdom, Motivation, Training, Management Skills Development, Leadership, Life Lessons, Core Values, Internet Marketing, Social Media, Life After Death - How To Overcome Life Changing Events and more. A published author who loves family, pets, community. While he has spent much of his life traveling, he now enjoys a much simpler life, living in his home town on a small quiet private lake with his family. Follow his Origami Warrior Wisdom daily quotes follow me at http://twitter.com/ChuckAinsworth to get my tweets and be sure to check out other Life Lessons at: http://origamiwarrior.com


Sleep Well & Live Full - A Guide to an Insomnia Free Life


An integral part of our life structure is a good night's rest at the end of the day. Regardless of how the day was spent, the hours we invest in our sleep determine our energy levels, alertness and mood for the following day. The negative side-effects of not getting enough sleep or being deprived of a blissful session of it can be devastating. This is not necessarily due to the lack of sleep itself but mainly due to how many perceive the lack of sleep to affect their daily lives. One of the main reasons for this is that at one time we've been told time and time again, that 8 hours of sleep is a primary requirement to be revitalized and recharged for the following day; but nothing could be farther from the truth.

According to a recent study conducted at the Harvard Medical School, it was determined that each of us needs no more than three and a half hours of core sleep to make a full recovery in order to cope with another day's activities. In fact a recent survey proved that those who got by with just 7 hours of slumber lived an average of 10 years more than those who chose 8 hours or more of intoxicating sleep.

And this is easily attained even by the most extreme insomniacs during a long session of 'restless' sleep. Even a majority of the typical headaches reported by insomniacs are mainly triggered by the individual's response to the situation, rather than the sleep deprivation itself.

With well over 60% of all Americans being exposed to insomnia at one stage of their lives or the other, it's no surprise that the pharmaceuticals are bringing in even more drugs to provide 'temporary' relief to a condition that can never be ousted through the use of medication. In fact, what every single drug ever introduced to tackle insomnia has done is to create a dependency that many have got accustomed to living with. And contrary to claims made by certain drug companies, there is no such thing as a "side-effect free" sleeping pill.

Some believe that sleep plays a vital role in maintaining a sound immune system, but the immune system is actually strengthened through rest, relaxation and the stress alleviation attained during the sleep process. But the two can be interchanged in such a way that sleep can be attained through the management of stress itself. This may be easier said than done, but if we can dramatically take control of our stress factor and keep it in check throughout the day and combine it with a few lifestyle enhancements, sleep would be just a few sweet hours away from sundown.

By denoting a more relaxed lifestyle, I don't mean cutting down the volume of stress related situations and encounters in your daily life, but rather changing your response to any given situation. Let's start with the way you breathe. It's a common sight these days for many of us to develop the habit of breathing with our chests for the most part. Chest breathing involves shallow diaphragmatic breathing, which can over time even lead to heart related conditions. We can easily change this by always breathing in deep and breathing by inflating the stomach freely as we do. And if ever you are faced with a stressful situation, all you simply have to do is replace your immediate and instinctive response with a few deep breaths, whereby you focus solely on your breathing and how it feels as it invigorates you with every inhalation.

You can expand your experience further by placing number 'one' at the beginning of each inbreath, which develops a sense of calmness and self-control. This instantly breaks your normal reactive pattern and replaces it with sustainable empowerment to process a more rational and less emotional response. This technique can be applied to your dealings with others, yourself and just about all your endeavours.

For instance, if you receive an unexpected bill or a financial statement that is not in your favor, you must be sure to do the breathing exercise first and then reframe the situation with a positive statement such as "it's a good thing I received that bill today. It could have been worse if it happened next month" or something along those lines. Find the good in every situation, even when there doesn't seem to one. Recalling a time in your life where setbacks have served you as diamonds in the rough may help with the process. This breathing exercise is referred to as the relaxation response.

The relaxation response is something that must be practiced on a daily basis and throughout the day if possible, but more importantly you should set aside a fixed time allotment of at least half an hour each night prior to bedtime, as this will help you cleanse your stress inducing thoughts and prepare you for a good night's sleep. But bear in mind that overcoming insomnia is not an overnight process. It may take a few days to a few weeks. But the process can be accelerated by incorporating the following few suggestions:

For starters, don't use the bedroom for anything other than rest, relaxation, intimacy and sleep

Avoid being exposed to bright lighting after 6pm

Try to allocate 1 hour each afternoon between 2-4pm (no later) for a quick nap

If you are a smoker, it's best to find a different self-help article or an audio recording to overcome the habit as this alone could prevent you from ever regaining the freedom from insomnia. Nearly all high nicotine consumers suffer from Insomnia at one stage or the other

Alcoholic drinks may have a similar effect and it is wise to limit your drinks to ? a pint of beer or a glass of wine/champagne at the very most a day

Avoid doing anything work related or money related at least an hour prior to sleeping

If you should wake up during the middle of the night, it's best to just get up and do something relaxing and mundane for an hour or so prior going to bed such as reading a book

Always repeat the mantra "This too shall pass" if you are finding it difficult to sleep knowing full well that all you actually need less sleep that you thought

Get used to deep breathing and expanding the stomach generously rather than breathing through your chest as mentioned before

Exercise for 30-60 minutes aerobically every single day first thing in the morning. This not only guarantees longevity and a stronger immune system, but it also flushes out any side effects that may be related to a restless night's sleep and it also lets you function at your peak all day long. A cup of strong coffee to follow might help quite a bit too (bearing in mind not to have any after 12 noon)

Embrace the sunshine. One of the great benefits of exercising in the morning is to get a good deal of exposure to the sun. It need not be a sunny day, even a little bit of natural lighting will benefit you tremendously. You can also replace some of your indoor lighting with Daylight simulating photography bulbs.

Avoid peanuts or chocolates just before going to bed. A small snack like an apple, a few crackers and possibly a glass of warm milk might help you sleep better.

Use earplugs if you desire to soundproof your sleep. Background noise and other forms of interruptions can have more of an impact on your sleep that you would have imagined.

Don't drink too much water closer to bedtime. You need to avoid interruptions to your sleep as much as possible, and limiting your fluid intake near bedtime would no doubt minimize those unnecessary detours

Never take fizzy drinks or caffeine of any form after 12noon on any day whether or not you had a good night's sleep the night before.

Challenge your brain a little everyday. A brain stimulating activity such as reading a non-fiction book. writing or even playing a musical instrument will gear you up ever so closer to that insomnia free life

Determine is specific time to go to sleep and a specific time to get up each morning and make no altered preferences for the weekends

There's also quite a few books out there on the subject of insomnia that you can greatly benefit from whilst the principles mentioned above to overcoming insomnia will suffice for many. They will ensure you reach your goals in a more structured manner whereby you'll be able to track your progress on a daily or weekly basis. You might also benefit significantly by getting the relaxation response on audio format as it provides a more detailed accounting of the breathing techniques.









Five Habits to Begin Taking Control


Enthusiastic affirmative thoughts enables people with ADD to concentrate on our strengths and actions,that increases happiness and motivating yourself. This, in turn, enables us to consume extra time making improvement,and fewer time feeling depressed and having difficulties.

The subsequent suggestions give no-nonsense tips that you will be able to exercise and assist you to change your thought into more optimistic thinking patterns:

1. Take Good quality Care of Yourself. It is a lot less difficult to live positive when you are eating healthy, working out, as well as getting sufficient rest.

2. Be reminiscent of the Things You Are Thankful For. Anxiety and problems never appear quite as dire when you are frequently reminding yourself of the things that are fine in life. Taking merely 60 seconds a day to stop and be pleased about the good things will make an enormous difference.

3. Search for the Evidence Instead of Making Assumptions. A panic of not being loved or acknowledged at times brings us to believe that we know what people are thinking, although our worries are mostly not reality. If you give rise to a fear that a colleague or family members unpleasant mood is due to something you did or that your co-workers are gossiping just about you in secret once you turn your back, have a word with them and ask them. Never squander time worrying that you did something incorrectly except if you possess evidence that there is something to worry about.

4. Refrain from Using Absolutes. Have you endlessly advised a companion "You are ALWAYS late!"or else complained to a pal "You NEVER call me!"? Thoughts and words in absolutes similar to 'always' and 'never' makes the circumstances appear worse than it is,plus programs your mind into believing that some people are incapable of delivering.

5. Detach From Unhelpful Feelings. Your thoughts can not have in the least control over you if you do not assess them. If you become aware of yourself developing a depressing idea, detach from it, witness it, then never pursue it.








Star Toller is an expert in the self improvement field,not only self motivation, but lifestyle guides. You can also see her new website on gas hedge trimmer and pole hedge trimmer products and supplies with reviews and quality information.


Monday, 29 November 2010

Managing Turnarounds in Times of Crisis - Phases and Actions to Accelerate the Recovery Process


There is plenty of trouble in today's economy, and few industries have been spared hardship. Turnaround opportunities abound for those who have the knowledge and fortitude to go through the process. The rewards can be plentiful and the failures catastrophic.

The process of turning around a troubled entity is complex and made more difficult by the multiple constituencies involved, all having different agendas. Lenders want their invested capital returned, preferably with interest. Creditors want to get paid for goods and services. Original investors want and hope for recovery of their capital, while distressed investors want to buy in at 20 cents on the dollar and then turn a profit, some by trading the credit and others by turning the business positive and then selling. Owners want to avoid guarantees and recoup some of their equity. Employees want to retain their jobs and benefits. Directors want to avoid risk and litigation. Other stakeholders want their interests protected. These varied desires often can be at odds with one another and hamper the turnaround effort.

Let's address the turnaround process as if all constituents favor proceeding through to the end, when a restructured entity emerges, although clearly other scenarios can be envisioned.

The High Cost of Mismanagement

Many causes contribute to business failure. According to a study conducted by the Association of Insolvency and Restructuring Advisors, only 9% of failures are due to influences beyond management's control and to sheer bad luck. The remaining 91% of failures are related to influences that management could control, and 52% are rooted in internally generated problems that management didn't control.

Businesses fail because of mismanagement. Sometimes it is denial, sometimes negligence, but it always results in loss. Mismanagement is most often seen in more than one of multiple areas:

* Autocratic management and overextension.

* Ineffective, non-existent communications.

* High turnover and neglect of human resources.

* Inefficient compensation and incentive programs.

* Company goals not achieved or understood.

* Deteriorating business and lack of new customers.

* Inadequate analysis of markets and strategies.

* Lack of timely, accurate financial information.

* History of failed expansion plans.

* Uncontrolled or mismanaged growth.

Will Rogers said, "If you find yourself in a hole, stop digging." It's good advice for directors and managers with responsibility for leading a company and very good advice for lenders and investors contemplating investing more capital into a troubled entity. This is an opportunity for distressed investors having the "dry powder" to invest at bargain rates, the stable of leaders to affect a turnaround, and the knowledge and chutzpah to take on these challenges.

The Role of Turnaround Specialists

To engineer a successful turnaround, a company needs someone with clear thinking to quickly assess opportunities, to determine what is wrong, to develop strategies that no one has tried before, and to implement plans to restructure the company. The problems are rarely what management indicates they are, but rather are usually two or three underlying, systemic ills that often can be fixed. You can't focus on the symptoms; you must find the real causes. Management has allowed these problems to exist and bring the company to its depressed state. Therefore, management is not equipped to manage the turnaround.

When these circumstances are present, turnaround specialists are often an excellent choice. They bring a new set of eyes trained in managing and advising in troubled situations. These experts are either practitioners or consultants. Turnaround practitioners take management and decision-making control as chief executive officer or chief restructuring officer. As an alternative, turnaround consultants can advise management, perhaps the same management that failed before.

Businesses fail

because of

mismanagement.

Sometimes it is denial,

sometimes negligence, but

it always results in loss.

The key to turnarounds is building enterprises in which future buyers want to invest. Investors and buyers look for businesses that:

* Create value and exhibit consistency from period to period.

* Have a high probability of future cash flows or have a history of performance and improvement or the promise of cash.

* Possess a market-oriented management team with a focus on producing revenue.

* Are able to sell and compete; to develop, produce, and distribute products; and to thrive and grow as indicated by a track record or demonstrated changes in the right direction.

* Exhibit a fair entry valuation and realistic return potential.

* Have exit options (a high return on investment, or ROI, realized at time of resale).

There is a process of recovery and investment in a turnaround. It is based on the fundamental premise that management is lacking when companies are in trouble. Turnaround specialists must conduct fact-finding to assess the situation and then prepare a plan to fix the problems. They must implement the planned courses of action by funding the process and building a team to carry it out, then monitor progress and make changes where necessary.

Stages in the Turnaround Process

The turnaround process has five stages:

* Management change.

* Situation analysis.

* Emergency action.

* Business restructuring.

* Return to normal.

Let's look at each stage individually to understand the objectives and what should be done by each function within the company. The timing is important to coordinate what's happening between functions. Stages can overlap, and some tasks may impact more than one stage.

The process is designed to first stabilize a situation, which is done by addressing management issues, assessing situation, and implementing emergency actions. The restructuring process begins with preparations during the emergency action phase. Positioning for growth starts with restructuring and grows when the normal stage is reached.

Management Change

It is very important to select a CEO who can successfully lead the turnaround. This individual must have a proven track record and the ability to assemble a management team that can implement the strategies to turn the company around. The best candidate most often comes from outside the company and brings a special set of skills to deal with crisis and change. His or her job will be to stabilize the situation, implement plans to transform the company, and then hire a replacement.

It is essential to eliminate obstructionists who may hamper the process. This move could require replacing some or all of top management, depending on the deal. It will undoubtedly also mean replacing some of the board members who did not keep a watchful eye.

Management must address issues related to the major stakeholder groups: executives, function managers, employees, lenders, vendors, customers, and others. To accomplish a turnaround, a company must make a concerted effort to change how it operates. Most turnaround companies have a lack-of-sales problem that necessitates a change to jump-start sales and drive revenue. There must be information that all can rely on for decision making. Production management must support and make what the market wants to purchase at competitive prices. Management must nurture the critical human capital resources that are left within the company, while at the same time holding them accountable for results.

Changing management is synonymous with changing the philosophy of how a company is run to achieve results. Communication with all stakeholders is paramount throughout all stages of the process. Set goals that achieve stakeholder objectives, then apply incentive-based management to motivate the proper results. Tie everyone to the same broad set of goals and emphasize how functions can complement the performance of related departments.

Situation Analysis

The objective at this stage is to determine the severity of the situation and whether it can be turned around. Questions to ask include:

* Is the business viable?

* Can it survive?

* Should it be saved?

* Are there sufficient cash resources to fuel the turnaround?

This analysis should culminate in a preliminary action plan stating what is wrong, how to fix it, and which key strategies can turn the entity in a positive direction. There should also be a cash flow forecast (at least 13 weeks) to understand cash usage.

Identify effective turnaround strategies. Operational strategies include increasing revenue, reducing costs, selling and redeploying assets, and establishing competitive repositioning. Strategic initiatives include adopting sound corporate and business strategies and tactics and setting specific goals and objectives that align with ultimate stakeholder goals. Too often, goals are misaligned with the ultimate direction and lead to confusion, wasted time, false starts, and employees sent in the wrong direction. Understand that many of the good employees have already left the company. Managements have to work with the "second string" in the interest of time and build as they go.

Understand the life cycle of the business and how it relates to the chosen turnaround strategy. Document key issues so that all parties will understand what you are trying to accomplish and will pull in the same direction. Identify which product and business segments are most profitable, particularly at the gross margin level, and eliminate weak performers and nonperformers. Make certain that all functional areas are working to support the goals of their counterparts. Selling work with flexible delivery times can fill valleys in production cycles, which reduces costs per unit. Producing only what sales staff can sell to meet customer demand will increase sales and gross margin.

Turnaround strategies often are affected by local government policy considerations and regulations. In the United States, the Worker Adjustment and Retraining Notification (WARN) Act requires 60-day notice of massive layoffs, which certainly impacts cash flow. In many countries in Europe and the Far East, stringent rules govern payment of wages after layoffs, as well as dealings with local authorities; some regulations even prioritize which workers can be laid off. When government policy favors labor and employment is not "at will," there will be complications.

Emergency Action

At this stage, the objective is to gain control of the situation, particularly the cash, and establish breakeven. Centralize the cash management function to ensure control. If you stop the cash bleed, you enable the entity to survive. Time is your enemy. Protect asset value by demonstrating that the business is viable and in transition.

You must raise cash immediately. Review the balance sheet for internal sources of cash, such as collecting accounts receivable and renegotiating payments against accounts payable. Sell unprofitable business units, real estate, and unutilized assets. Secure asset-based loans if needed. Restructure debt to balance the amount of interest payments with the level the company can afford.

Lay off employees quickly and fairly. It is much better to cut deep all at once than to make small cuts repeatedly. Remaining employees are more likely to focus if they believe their jobs are secure.

Rightsizing the company means much more than laying off employees. Correct underpricing of products, prune product lines to only those that are profitable and meet demand, and weed out weak and problem customers. Sometimes too much overhead is applied to support customers that aren't paying their fair share of that service. Emphasize selling more product at profitable rates. Reward those who change the situation; sanction or release those who don't.

Business Restructuring

In this stage, the objective is to create profitability through remaining operations. Stress product-line pricing and profitability. Restructure the business for increased profitability and return on assets and investments. This is the point at which the focus should change from cash flow crisis to profitability. Fix the capital structure and renegotiate the long- and short-term debt.

Ensure reporting systems put in place are operationalized to show profitability at each revenue center, cost center, profit center, cash center, incentive center. If employees can't see it, they can't manage it.

Incentive-based management drives employees to get involved smartly and manage to the goals all ascribe to. Create teams of employees to identify and rework inefficiencies and promote profitability.

There are only two ways to increase sales: 1) sell existing product to new customers, and 2) sell new products to existing customers. If you want growth, do both.

Return to Normal

The goal at this final stage is to institutionalize the changes in corporate culture to emphasize profitability, ROI, and return on assets employed. Seek opportunities for profitable growth. Build on competitive strengths. Improve customer service and relationships. Build continuous management and employee training and development programs to raise the caliber of your human capital.

This could be time to restructure long-term financing at more reasonable rates now that the company is stable and on a path to growth.

The odds of a successful turnaround increase dramatically if a turnaround phases-and-actions plan is implemented and followed. Create a plan that is specifically adapted to your unique situations, then turn it around.








John M. Collard is Chairman of Strategic Management Partners, Inc, an Annapolis, Maryland-based turnaround management firm specializing in interim executive CEO leadership in small and mid-sized business, asset and investment recovery, investing in distressed troubled companies, and equity capital advisory. He is an inductee into the Turnaround Management, Restructuring, and Distressed Investing Industry Hall of Fame. He is Past Chairman of the Turnaround Management Association, a frequent author and speaker.(410) 263-9100 http://www.StrategicMgtPartners.com