Taming the Paper Tiger

I've discovered an easy way to eliminate several paper files and allow quick future access to the needed information.  Since all my appointments appear on my Outlook Calendar, when I return from meetings that have only a few follow-up items, I can summarize the information in the original appointment and recycle the paper handouts. 

Help! My Networking is Not Working!

Here are highlights from my presentation for our Sterling Bank Women’s Business Initiative luncheon in San Antonio this week:

When we find that our networking is not working it’s almost always because we’re not working for our network!  When we work for our network, our network will be effective. We need to create long-term mutually supportive relationships.

We must give before we can expect to get.

We learned the fundamentals of networking in kindergarten:

“Make new friends and keep the old

Some are silver and others are gold.”

Effective networking is a game where everyone wins.  Though our gamesmanship improves from kindergarten through our lives, we learn from each game we play.

Four childhood and one adult game provide networking dos and don’ts:

1. Tag – It’s quick and brief with no meaningful interaction, but at least we’re in the game. Engagement is necessary.
2. Barrel of monkeys – Networking is fun! The links can become sizable, but they are quite fragile.  Bigger is just bigger, not necessarily stronger.
3. Twister - Interconnecting with others reminds us that networking is not an event, but the sum of all of our relationship building activities.
4. Lego – Building a solid foundation allows us to create a mutually supportive network. When we integrate all of the relationships in our lives we netconnect.
5. 21 - My Way (see my 12/2 blog) – Changed rules create unlimited winners.

The common theme of these games is that we increase the number of winners when we don’t keep score.  Before moving from kindergarten analogies, it’s helpful to remember that networking is a long-term process.  It’s like the 5-year old who asks in January how long it is until Christmas. She and we are encouraged to keep believing and be good.

And if we spell NETWORKING as a kindergartner might, we get NETWERKING.  Dissecting this word reveals a fun way to remember the mutuality of networking:

Net We R King (done right, we all win).

There are many ways to maintain, strengthen and grow our relationships including:

• Events
• Face-to-face one on one or small group meetings
• Phone
• Email
• Notes - Send thank you notes, recognition of accomplishments, congratulatory, sympathy
• Recommend books
• Offer time-savers – sending yourself an email with notes from a presentation eliminates the need to transcribe
• Teach someone else what you know
• Recurring appointments in outlook
• Compliment someone in front of others
• Speak
• Write
• Nominate
• Volunteer – active involvement – board development committee
• Recommend
• Ask for advice
• LinkedIn – easy way to follow-up with those you met during the day – Personalize your messages rather than using the standard ones provided.
• Blog
• Share great finds – sales, sites, courses, resources, restaurants, service providers
• When introducing others capture something meaningful about each party

Here’s my big girl expanded version of the friendship poem:

“Make new friends and keep the old

Some are silver and others are gold

Add new people to the fold

But don’t let relationships grow cold

Share the stories to be told

Let your listening be bold

Share advice when you’re polled

But be wary not to scold

We like to buy – not be sold

So put your sales pitch on hold.

Break the networking mold

Netconnect with young and old”

The Sandler Rules

I just finished reading The Sandler Rules - 49 Timeless Selling Principles and How to Apply Them adapted by David Mattson. Reading the book is like spending self-paced time with a personal sales coach. Each 4 page chapter offers practical advice and questions to apply to your own selling experience. The author beautifully illustrates the power of listening, questioning, prospecting, taking responsibility and getting decisions.  He reminds us that when the outcome is important, we don't try to do something, we do it.  And he emphasizes that a life without risk is a life without growth.

Linking, Tweeting and Friending with the Pros

Three social media pros shared their advice for effectively using LinkedIn, Facebook and Twitter at Sterling Bank's April Women's Business Initiative luncheon:

Denise Patrick, Vice President, Marketing and Creative Services, Pierpont Communications
Steve Latham, Founder and CEO, Spur Interactive
Christine Pechayco, New Media Editor, Sterling Bank

This group of experts was quick to categorize social media as additional cost effective marketing tools to supplement what we are already doing to grow our businesses. 

Facebook was presented as a communication tool ideally suited for personal and business to consumer relationships.  LinkedIn was categorized as a business development tool.  And Twitter was described as a tool to amplify messages.

Denise, Steve and Christine agreed that social media communication must be relevant, educational and informative.  The goal is to increase awareness and ultimately move to a status as a preferred partner or vendor.

They cautioned that these tools were designed for customized two-way communication and won't work well if we try to use them to distribute press releases or overtly push products or services.  The tools will work well to spark interest, establish a reputation as a resource, enhance relationships and broaden reach.  When used effectively social media levels the playing field for small and large companies.

Though each panelist acknowledged the time investment necessary, estimates for effectiveness varied from 15 minutes to an hour per day.  Tips to minimize the time investment and maximize the impact included developing a production schedule, sharing content developed by others and using free tools like those available at HootSuite.com.

The experts were in broad agreement about the power of social media and each has a special way that they mutually benefit their networks.  Denise uses the business cards she collects during the day to extend invitations to continue the relationships through LinkedIn.  Steve provides a Monday Marketing Tip each week.  Christine is a prolific re-tweeter. 

This terrific trio helped a room full of enthusiastic business women to "Link, Tweet and Friend Like a Pro".

Tips from Jim Muehlhausen's Book - "The 51 Fatal Business Errors and How to Avoid Them"

In The 51 Fatal Business Errors and How to Avoid Them by Jim Muehlhausen, the author uses colorful language and shares the stories of many CEOs with whom he's consulted to describe 51 ways to become a more effective CEO. 

Some of his tips include:

• Listen and move on.

• A CEO’s job is to provide best solutions, not just a solution.

• When you allow the customer to constantly create one-off transactions you are herding cats.

• The best way to learn to be more objective is to get a fresh pair of eyeballs. This can be a consultant, a board or a hire from outside the industry.

• Manage outputs rather than inputs.

• Find someone outside the company in whom you can confide.

• Being a highly effective CEO involves moving outside your comfort zone.

• Work with laziness, not against it.

• Delegate, but check important results, processes and functions.

• Do what you know needs to be done.

• Don’t be afraid to make dramatic changes.

• Make a list of everything that you have been meaning to do or complete.

• Throwing too many new ideas at a new employee is like dumping bricks in a pile and calling it a house.

Sterling Bank Women's Business Initiative Recaps

We've been able to feature a wonderful array of talented speakers for our state-wide Sterling Bank Women's Business Initiative.  Here are recaps from recent programs:

“Execution”

"Linking, Tweeting and Friending with the Pros"

“Think Like an Entrepreneur”

“You Really Asked a Candidate That?”

“WOW Your Customers”

“Link, Tweet and Friend Like a Pro”

“Take this Job and Love It”

“Revelations in the Rearview Mirror”

“Human Resource Essentials”

“Embracing Generational Differences”

“How to Recession-Proof Your Business”

“More Tips on How to Recession-Proof Your Business”

“Market Like a Pro”

Pretty Woman Syndrome

One of my favorite movie scenes is the reappearance of Julia Roberts in the snooty Rodeo Drive stores when she has unlimited purchasing power. 

When one makes purchasing assumptions based upon the buyer's appearance or knowledge rather than treating every interested party as a valued prospect, major opportunities are lost.

I was privileged to grow up in an unpretentious small town. My family had the chance to build businesses beginning with heavy construction. I vividly remember two stories of overalls-clad individuals being approached. In the first, my Dad asked a farmer on a tractor to whom he should present a bill for work they had completed. Surprisingly, this affluent farmer was working his own field and paid cash from his bib pocket for a sizeable invoice.

Another overalls-clad farmer appeared in an equipment dealership inquiring about a particular tractor. Because of his appearance as a man of meager means, he was not treated well. He subsequently purchased a large fleet elsewhere.

Years ago, I called a specialty car dealership on behalf of an out-of-state "cash-in-hand" buyer for an in-demand vehicle.  Because I wasn't on a waiting list or knowledgeable about the vehicle, I didn't even receive the courtesy of a follow-up call.   Bet if I called today, I'd be treated as royalty!

I wish everyone treated others as they wish to be treated. More friendships, business relationships and pleasant interactions would result.

Random Tips that Have Improved My Life

I maintain an attitude of gratitude and it's always a treasure when I discover a tip that makes my life better or easier. I share a few random tips:

Reusable water bottles - Yes, JuJu, I am reducing my carbon footprint, but I'm also drinking more water. I put one in the dishwasher each evening and fill one each morning as I head to work. Great poolside, too!

Lip moisturizer re-purposed: Gar's lip balm didn't make it through the washer in any condition for him to apply it. However, it's a great cuticle moisturizer and you can scoop it out as needed.

Audio-Tech Business Book Summaries: This is a subscription well worth the $149 per year price tag. I look forward to receiving 2 business book summaries (text and audio) each month. Great value and learning!

Towel drying hair before applying conditioner: Why didn't anyone ever tell me before that getting a bit of moisture out of your hair before applying conditioner makes a remarkable difference in the amount of conditioner that is actually absorbed? Just takes a couple of seconds to squeeze the excess moisture from your hair, apply conditioner, continue with your shower, then rinse the conditioner. This keeps the conditioner from sliding off soaking wet hair.

Calcium with Vitamin D can reverse bone loss! When my wonderful OB/GYN delivered the news that I needed to address my bone loss, I decided to take matters into my own hands. Thankfully, taking calcium +D every day, increased my bone density the first year, and has provided status quo going forward. Yes! It's great to change my bone health without drugs!

Sudoku - Thank you, Anne for providing a daily opportunity to solve a puzzle!

Hammock! No explanation needed!

Mapquest/Televav - Thankfully I am the only directionally challenged person in my family. These tools were made for me!

Keyless Entry - What difference could a few seconds make? Multiply those seconds by each time you enter your car. Not having to dig in my purse for keys is priceless!

List of Things to Take on a Trip - Years ago I prepared a list of items to pack. What a time and stress saver this has been. My only omission in recent years was a toothbrush... This one time I packed days ahead and sent my bags with family... Easy enough to correct!

Methodist Hospital Breast Center Satellite - I asked a few less than a million questions to determine that Methodist's satellite location at Kirby and the Southwest Freeway had the same radiologists, equipment and access to my years of records. Assured by my trusted physician, multiple nurses and everyone involved with scheduling, I had my first mammogram outside the Med Center. The facility is great, access to records is instanteous and the radiologists actually take time to meet you!

WWW.HCAD.ORG - ifile is the most time efficient government tool I've ever accessed. When a disparity exists between appraised value and market value, you can easily file a protest. My experience was amazing! From the time I filed, received and accepted a fair settlement offer was only 4 days!

Random Number Generator - Thank you Amy! If you need to easily find winners among eligible participants, this is the tool for you! In Excel use the formula =randbetween(bottom,top).

Lessons Learned from Hurricane Ike

Hurricane Ike caused enormous loss and disruption to the Texas Gulf Coast and our residents. A natural disaster of this magnitude reminds us of the many things we take for granted under normal circumstances. And as is the case with many adversities, there are lessons learned:

I cannot control everything
• I can lead, plan and execute - Leadership, compassion and ethics are crucial
• Some things are beyond my control – weather patterns, customer priorities, customer whims
• I must control the things I can- work ethic, not putting all my eggs in one basket, viewing things through a customer lens to achieve win-win solutions, looking for alternate solutions

No matter how ferocious, the storm will end
• In the midst of the hurricane or business crisis, this is not always evident.
• As soon as the storm is over, express gratitude.
• Begin recovery as soon as practical.

We are all in this together
• Teamwork is a part of most company’s stated or implied values and is essential even in a sole proprietorship.
• The necessity of teamwork is clearly evident as Houston recovers from the ravages of Ike – family, friends, neighbors, local, state and federal governments, critical businesses – grocery stores, electric providers, gas stations, banks, debris removers.
• No one can ever have too many friends/contacts.

Plan ahead
• Having a continuity plan can make the difference between quick recovery and lack of survival.
• The plan needs to be thorough and implementable. A week’s worth of provisions seems excessive until most of the area is without power.
• Work the plan. Now is not the time to write a new plan on the fly.
• It is critical however, to make necessary modifications. No plan can proceed without modifications regardless of how good it is.

Priorities change
• Maslow’s hierarchy of needs became crystal clear when water, ice, food and fuel were the most important items
• As your business grows and your clients’ needs change you will need to change -Flexibility is essential

Everyone needs something
• Sometimes the needs are basic and sometimes complex
• Needs and wants must be addressed differently
• Ask open-ended relevant questions
• Know what needs you can meet – offer additional resources for those you can’t

Attitude of gratitude
• Family, Faith and Health are enough
• Focus on what we have
• Life must go on – survivor/thriver attitude

Time is relative and distance matters
• Instantaneous responses that we’ve adopted are not always possible or positive

Everyone has a story – let your customers and friends tell theirs
• Listening is an act of compassion
• Concern, interest and understanding strengthen the relationship

Intensity drives impact
• Storm intensity drove damage
• Productive, focused business intensity drives results
• Power of 1+

More Tips on How to Recession-Proof Your Business

I was privileged to moderate a panel at the second quarter Sterling Bank Women’s Business Initiative Luncheon in Houston. We had the unique opportunity to hear from three remarkable experts in marketing, public relations, law and finance as they shared tips on “How to Recession-Proof Your Business”.

Our talented panel included:
Carolyn Mayo – Shareholder and President, VOLLMER Public Relations
Wayne Kitchens – Board-Certified Attorney, HughesWattersAskanase
Travis Jaggers – Chief Lending Officer, Sterling Bank

Communication was the unifying theme. The panelists emphasized the importance of communicating frequently and effectively with employees, customers, suppliers, creditors and service providers.

Carolyn Mayo’s terrific advice included:

●Keep Marketing – Tattoo this Message on Your Head
●Network – Stay Visible – Be a Zebra, Not an Ostrich – Sell Your Business and Expertise
●Cultivate Raving Fans – They are Great Referral Sources
●Prioritize Marketing Activities to Your Most Profitable Areas
●Don’t Let Rumors Become Toxic – Communicate!
●Invest Time in Social Media – Twitter, LinkedIn and Facebook
●Seek Alliances for Programs, Advertising and Promotions
●Communication Resources Include a Combination of Agencies, Freelancers and In-House Staff
●Take Time to Differentiate Your Business
●Re-evaluate Your Ultimate Goals

Wayne Kitchens shared these excellent tips:

●Don’t Omit Tax Payments – You Can’t Borrow from Uncle Sam or Uncle Rick
●Eliminate Non-Productive Employees
●Act Quickly to Address Problems
●Treat Professional Help as Insurance to Address Accounting, Marketing and Legal Issues
●Ensure Corporate and Legal Documents are Up-to-Date – Flat Fee Option is Available
●Address Cash Flow Problems with Your Banker Immediately – Don’t Create Surprises
●If Accounts Receivables Function is Unsuccessful in Collecting – Step in Executive to Executive
●When You Owe Money – Clearly Communicate What You are Able to Do ●Openly Communicate with Your Attorney – Discussions Receive Attorney Client Privilege
●Negotiate an Engagement Letter with Your Attorney - Billing Increments Vary

Travis Jaggers illuminated that prudent financial steps equate to prudent business practices and offered these helpful suggestions:

●Protect Cash Flow – Cash is King
●Keep Your Best Employees
●Work Effectively with Existing Good Customers
●Good Customers are Those Who Pay Market Rate, In Full, On-Time, All the Time
●Find Ways to Win Your Competitor’s Customers
●Balance Your Focus on Core Business and Diversification
●Provide Outstanding Customer Service
●Cash in a Business Takes Many Forms including People and Inventory – Trace Your Cash
●Analyze Financial Statements MonthlyEvaluate Pricing and Consider Product or Service Bundles to Move Inventory

Contacts to Contracts

Who wouldn’t want to develop a relationship with someone who consistently demonstrates these characteristics?

How to Recession-Proof Your Business

I recently had the opportunity to moderate a Sterling Bank Women’s Business Initiative luncheon in San Antonio, How to Recession-Proof Your Business, featuring a remarkable panel:


●Beth Smith, Attorney, Law Offices of Elizabeth Smith

●Cat Wilson, CEO, President and Executive Creative Director, RegnierValdez

●Travis Jaggers, Chief Lending Officer, Sterling Bank

They began and ended with the advice to market your business. Here are highlights of their most valuable tips.

Cat Wilson motivated attendees to:
●Continue Marketing
●Ensure Consistency and Professionalism in Daily Communications
●Differentiate Your Messaging from Your Competitors
●Treat Your Staff Well and Train Them as Enthusiastic Ambassadors
●Dig Deeper with Existing Clients and Ask Them for Referrals
●Invest in Social Media
●Get Involved in Your Community

Beth Smith reminded us to:
●Always Put Agreements in Writing
●Research the Value of Assets to Avoid Fraudulent Transfers
●Avoid Conflicts of Interest with Clients
●Be Savvy about Collections to Avoid Preferential Transfers
●Exercise the Golden Rule in Both Sides of Account Receivables
●Be Aware that Personal Guarantees Make You Responsible for Debts
●Communicate with Respect and Flexibility with Creditors

Travis Jaggers shared that prudent financial steps are guided by effective business execution including:
●Protecting Cash Flow
●Retaining and Rewarding Your Best Employees
●Keeping Existing Customers and Finding New Ones
●Not Allowing Diversification to Erode Core Competency
●Providing Outstanding Customer Service
●Marketing Your Business