Reflexive Reactions Happen in a Flash

Why do some people seem to sneeze every time they walk out into bright sunlight? According to a new study reported in The Wall Street Journal in February, it's because one in four people have a "photic sneeze reflex". This reflex, caused by an extra-sensitive visual cortex, triggers the tendency to sneeze when suddenly exposed to sunlight or other bright light.

In business, you sometimes encounter strong, unexpected reactions when dealing with people, both inside and outside your company.

Build a stronger business by recognizing that some of the people you deal with have reflexive responses you may not experience yourself.

Is Social Media Valuable for Entrepreneurs?

It may seem like a no-brainer: these days, businesses should use social networking tools like Facebook and Twitter as part of their marketing strategy. As reported in The Wall Street Journal, in 2009 social-media adoption by businesses with fewer than 100 employees doubled to 24% from 12%. If you're not addicted to social networking yourself, you're bound to know plenty of people who are.

But social media may not be as useful as we think. A survey of 500 small-business owners found that just 22% made a profit last year from promoting their firms this way. A lot of time and energy can go into maintaining the company's presence on social sites, and rewards in sales - if they come - can be slow to arrive. Indeed, using social media "could harm you if you end up inadvertently saying something stupid, offensive or even grammatically incorrect," says Larry Chiagouris, professor of marketing at Pace University's Lubin School of Business.

In order to see benefits from this kind of marketing, you have to be patient, dedicated, and consistent. Stephen Bailey, of John Fluevog Boots & Shoes Ltd., says his company saw a 40% increase in online sales in 2009, the first full year they consistently engaged in social media marketing. There are several free services available to help companies track Web traffic from social media sites, including Hootsuite, Google Analytics, CoTweet, and Lodgy.

For some businesses, social media makes sense. Like everything else, though, it's not a silver bullet. Build a better business by using a smart marketing mix.

Business Schools Tap Veterans' Potential

There's a growing effort among business schools to attract former military members into their MBA programs. Veterans are often prized for their leaderships skills and alternative perspective. In addition, "they've been responsible for lives, which brings a gravitas to classroom discussion," says Deirdre Leopold, director of admissions at Harvard Business School. Harvard, which relies on students' personal experiences to drive the school's case study method, reports that veterans comprise 3% of the class of 2011.

Even though business schools are seeking them out, veterans often have trouble paying MBA tuition, which can cost upwards of $150,000 for two years. As a result, schools have started offering large scholarships, often in partnership with the government. An increase in government funding through the Post 9/11 GI Bill, and the Yellow Ribbon Program, which gives a lump sum payment to each student beyond the GI Bill's offer, have also helped.

The same qualities that make veterans attractive to business schools have also caught the attention of corporate recruiters. "They automatically know how to work in a team and they have respect," says Stacy Blackman, an M.B.A. admissions consultant and president of Stacy Blackman Consulting in Los Angeles. Bill Brenton, director of the leverage finance group at Credit Suisse Group, says a recent internal study found that employees with military backgrounds tend to be very successful, often due to a sense of discipline and ability to build camaraderie.

Build a stronger business by utilizing people with transferable skills from non-traditional backgrounds.

Welcome Your New Hires

Although simply finding someone great to fill an open position in your company can seem like the most critical part of hiring, it's equally important to smooth the transition and make sure new hires are able to hit the ground running. Karen Lawson, author of "New Employee Orientation Training" and president of Lawson Consulting Group Inc. in Landsdale, PA, offers these tips for managers:

• Inform your staff of the new hire, even with a simple email. Informal meetings or memos can help ease tension and let everyone know how the new employee's responsibilities will dovetail with their own.
• Make sure the new hire has a space to call their own from day one, so they feel welcome and settled. Don't leave the arrangements until the last minute, since they can take longer than you anticipate.
• Take the time to greet new employees in person and show them the ropes. The first impression is critical. "This is not something that can be delegated," says Ms. Lawson. "It really sets the tone." It's also a good idea to keep the office's social network in mind. Assigning a "buddy" on the hire's level and pointing out who runs the office sports team can make the new hire feel more connected right away.
• Help the new hire feel familiar with your office culture by taking the time to mention the unwritten rules, like the need to clean out the coffee pot or where bosses tend to congregate.
• Sit down with your new employee to set clear short- and long-term plans. Management's expectations should be clear from the beginning, as should review processes. Ms. Lawson recommends weekly meetings for the first month or so: "Bringing an employee on board is a process that needs to take place over weeks and months. It's not just a one-time event."

Build a better business by preparing for new hires so they can get oriented quickly.

The New Style of Business Training

Before the recession, companies often sent their star managers to executive training programs held at business schools around the country. With budgets in the hundreds of millions, top professors, and a generous schedule, these programs usually focused on general leadership development, rather than company-specific problems.

Now, however, companies are searching for cheaper alternatives with a more immediate impact. "Companies are asking for external experts to come in and do something very specific," says Josh Brand, a former senior director of executive education at Babson College and co-founder of Freemont Learning, Inc., an executive development firm. In a time of economic uncertainty, the focus has shifted to moving the company - not just the individual - forward.

As a result, executive-education consultancies are scrambling to create customized programs that provide managers with the skills to weather the downturn and come out on top. "When you have trained leaders in bad economic times, it makes a world of difference," says Tim Bray, vice president and chief learning officer for Quintiles Transnational Corporation. And it's the consulting firms, rather than business schools, that are able to offer the flexibility and support companies are looking for. In addition, web-based courses, traditionally offered to middle management, are now being used for top-level executives as well. The Center for Creative Leadership in Greensboro, NC, has even started offering ready-to-use courses that, while less specific than an on-site visit, cost a fraction of the price.

This trend is a good one; you can build a better business by offering your management team focused training and education to achieve specific outcomes.

10 Steps. 3 Areas. Emerge from Recession with Success.

Want to emerge from the recession with your organization ready for success? Then The Forum Corporation says they have the answer for you -- 10 steps spanning financials, people, and climate.

“By looking at past recessions we’ve identified 10 steps that can make the difference between success and failure in managing through our current downturn, and they all come back to leadership,” said Ed Boswell, CEO of The Forum Corp. “Following these steps will be particularly valuable in organizations that are undergoing cost-cutting and layoffs, which challenge managers to do more with less.”

The 10 steps recommended are as follows:

Financials

1. Move quickly to reduce costs and control spending by narrowing focus. Winners in a downturn focus on a few critical priorities where they can develop a clear lead, and they walk away from bad business. Losers chase unprofitable sales in an attempt to hold their top line.
2. Refrain from across-the-board cutbacks, being sure to preserve areas that customers value most. Businesses that uniformly cut costs often find that they end up damaging their ability to sell and deliver their products and services. How do you find out what customers value most? Ask them.
3. Consider alternatives to layoffs. Downsizing tends to bolster the bottom line and stock price in the short term, but often creates long-term negative repercussions. Alternative strategies include cutting management bonuses, freezing salaries and reducing compensation options. It’s critical to clearly communicate the rationale and impact to employees.
4. Invest in opportunity. A bad economy can present bargains, both in new assets and in new talent. Good areas to invest in are R&D, marketing and customer-perceived quality. By contrast, investing in working capital, manufacturing and administration doesn’t pay off as well.
   
   People
5. Retain and develop top talent. High-impact workers are often more susceptible to being poached by a competitor in a downturn. Organizations that provide development experiences and rotational assignments have better employee retention rates.
6. Make sure everyone’s on the same page. When alignment on key goals is absent, performance suffers, according to studies on strategy execution. Top leaders frame an agenda and meet with key stakeholders to gain support and build commitment to overarching goals and values. Ineffective leaders let inter-office politics fester and hidden agendas dominate.
7. Encourage questions and new ideas by making it safe for employees to raise them. Leaders who admit they don’t have all the answers and ask for input empower their people to contribute their best ideas.
   
   Climate
8. Manage the heat. Leaders are often tempted in difficult times to relieve the organization’s stress by making unilateral, tough decisions. That’s often a mistake. Leadership by dictate often doesn’t take because it lacks a broad base of support, and it often eliminates constructive conflicts that challenge the status quo and fuel good decision-making.
9. Communicate authentically. Strong leaders acknowledge the challenges they struggle with and, by doing so, build trust among followers. Rather than being a sign of weakness, it’s a sign of strength.
10. Create a positive vision and attitude that acknowledges reality. Businesses at the top of their markets often fall while “sleeper” companies sometimes jump to the top in a tough economy. When leaders exercise discipline and focus by mobilizing employees to respond to customers’ interests and values, they increase the chance that, when the downturn ends, they’ll come out on top.

Engage your managers to discuss and adopt these steps in your organization and you'll build a stronger business even in the toughest of economies.

The Pursuit of Happiness for Entrepreneurs

Experts validate what successful people already do by making effective choices both at home and at work. Consider these 6 tips and to what degree you're employing these in your life, especially as we approach the holiday season:

• Relishing the Day. Beware of "hedonistic adaptation," hold on to accomplishments for as long as you can. Celebrate career accomplishments by going out to dinner and have pictures and souvenirs from trips - these will help you remember them longer. According to David Schkade, a management professor at the University of California at San Diego, "'when something good happens, you want to find a way to hold on to it for longer.'"
• Dodging traffic. According to Andrew Oswald, an economics professor at England's Warwick University, "'lack of control is what tends to induce stress in human beings.'" People find it difficult to commute since they can never rely on traffic. Therefore, Oswald recently moved closer to his office, cutting him commute from 60 minutes to 20 minutes.
  
• Seeing friends. Surveys suggest that time spent with family and friends is among our happiest times. Richard Easterlin, an economics professor at the University of Southern California comments, "'Earlier on, I tended to sacrifice my family time to try and push research ahead. I do that much less now. Going out to dinner with family for me is always an enjoyable experience.'"
• Buying memories. Spend your time on memorable experiences. Professor Alan Krueger, a Princeton University economics professor, recalls taking his father to the 2001 Super Bowl as an example.
• Limiting options. Limiting your choices may help you be more content with your decision. Professor Gilbert of Harvard University comments that those who were the happiest with their choices were "'those for whom the choice was irrevocable. When options are open, the mind generates debate. When options are closed, the mind generates satisfaction.'"

Really successful entrepreneurs not only build a stronger business, but do things that lead to greater personal satisfaction.

Business Tips TV Launches

Bringing Improvisation to the Workplace

According to Patricia Ryan Madson, author of Improv Wisdom: Don't Prepare, Just Show Up, an effective way to improve your business to take a fresh look at what and how you are doing in your business.

Learn to work with situations that used to be interpreted as mistakes in a new light. Improv consultants can help alter a work environment by creating novel situations and encouraging individuals to react in new ways. This addition of humor and decrease of the fear of making mistakes can help reduce tension in the workplace. Ms. Madson and other improv consultants, including a team out of Portland, OR, called On Your Feet (www.oyf.com), are hoping to create "'a culture of 'yes.''" Developing a culture of yes can allow entrepreneurs to consider ideas that they previously may have discarded. Often "'happy mistakes'" can occur when one idea opens the door to another pathway of thinking.

Robert Poynton, a co-founder of On Your Feet said "'if anything, we know rather less about what is coming next, and how it will affect us, than our ancestors did,'" in "A Turtle and a Guitar Case: Improvisation and the Joys of Uncertainty." The On Your Feet site also refers to a "'cool mistake,'" something seemingly negative that has a positive outcome when interpreted in a different light.

As all business owners know, even the best made plans can fail. According to Ms. Madson, "improvisers avoid spinning their wheels because they see quickly what isn't working, or simultaneously, what might be successful that didn't occur to them at first. Improvisers, by definition, take risks and make mistakes, lots of them, but that's what leads them in fresh directions.'" Ms. Madson acknowledges that this change away from structured planning can be difficult; however, she suggests that this method can still help your business move forward.

Mike Kwatinetz, a venture capitalist who is co-founder and general partner at Azure Capital Partners in Palo Alto, embraces improvisational thinking as a way to get companies moving. This way you are reacting to what is happening around you and making appropriate changes and improvements.

Build a stronger business by letting go of the future.

Bill Gates Asks How to Encourage Tech Careers

Bill Gates, listed as a technologist/philanthropist, asks the 25 million plus members of the business networking site LinkedIn, "How can we do more to encourage young people to pursue careers in science and technology?"

In less than 3 days, he's received close to 3,000 responses -- some very intriguing and well thought-0ut ideas have been posted.

When you build a stronger business, you cast a wide net and seek ideas from a diverse population.

Everyone Say 'Aye'

Did you ever notice that everyone is for free speech, as long as the speaker sounds like them?

When you build a stronger business (or any team/organization for that matter), you've got to be able to hear and even solicit input from different perspectives, and some of it is bound to be contrary from what you were expecting.

As you learn to incorporate and learn from that feedback, you will become a better leader and the organization will benefit from it.

Alan Weiss and Bill Ringle Discuss Strategy

Alan Weiss, president of Summit Consulting and known as the 'Million Dollar Consultant', has been a friend, colleague, and mentor to me for the past 10 years or so.

This past weekend, about 100 of the sharpest consulting minds from across the United States and Canada gathered for a retreat on business strategy in Providence, RI. Seeing old friends and making new ones made it a doubly-rewarding experience.

Here are 7 points I'd like to share with you from the seminar to help you build a stronger business:

1. Being excellent at what you do is the foundation for both business and personal growth.
2. Strategy and planning are entirely different, and blurring this distinction can be deadly to a business because planning is a bottom-up approach while strategy is a top-down approach.
3. Strategy fails at execution, not on the drawing board.
4. Strategy work is periodic and situational, not continuous. Once it is set, let it operate.
5. Minimizing or avoiding risk has it's place, but to advance and achieve growth it's necessary to take prudent risks.
6. Executives commonly use strategy to instantiate ambiguity. Instead, absorb the ambiguity and create tangible accountabilities for those involved.
7. You learn the most and at a faster rate when you make a commitment. Commit to a strategy and you'll see very quickly how it impacts decisions. Waffle, meander, and prevaricate and you'll never really know which direction is forward.

Lastly, a favorite quote from George Santayana that's germane to the discussion:
A fanatic is someone who redoubles his efforts after losing sight of his goals.

As you build a stronger business, take the time not only to build a solid strategy, but to really use it as a decision-making framework.

Competitive Forecasting Provides Better Results Than Surveys

Competitive forecasting, a new trend discussed in James Surowiecki’s book, “The Wisdom the Crowds”, has become a popular method of surveying the public, and the Sloan Center has jumped on the bandwagon. The first to broadly study Internet sales, The Sloan Center will launch a new Web site that will take the public’s predictions about internet-related trends and online sales.

In The New York Times article, “The Wisdom of Sales Trend Predictions”, Bob Tedeschi calls attention to the advantages competitive forecasting provides over traditional surveys. According to analysts, this method brings more accurate results because participants care more about their answers. One of the best known examples is The Hollywood Stock Exchange (www.hsx.com), which has correctly predicted 92% of the major-category Oscar winners.

Competitive forecasting is also more appealing to participants than typical phone surveys.

Donna Hoffman and Thomas P. Novak, directors of the Sloan Center, will offer cash rewards like $25 and $500 gift certificates to the top-ranked participants of their site. The most prescient users also have an opportunity to gain an admirable online reputation.

Creative Ideas Don't Always Work

When Brian P. Tierney, the new chief executive of Philadelphia Media Holdings proposed to place two giant billboards and an inflatable giant bee by the newspaper’s landmark building to advertise the upcoming new “Bee Movie”, the neighbors strongly objected.

In The New York Times article, “No Bees on the Inquirer”, Pradnya Joshi notes that the new CEO received no complaints from staff.

Since his start with the Philadelphia Inquirer and the Philadelphia Daily News, Tierney has been encouraging his staff to be more creative with promotions. He has proposed to sponsor the first national sudoku championship and has raised the marketing budget from $300,000 to $14 million.

But his proposal for the movie promotion really offended neighbors who believe in respecting the historical landmark.

Innovation is not always embraced when you’re building a stronger business.

25 Year Later USA Today Continues to Stay Relevant

On September 15, 1982 despite much skepticism, USA Today launched as the first national newspaper. Today, 25 years later, it has the largest weekday circulation of any American newspaper and attracts 9 to 10 million readers to its Web Site every month.

Richard Perez-Pena reveals USA Today’s rocky start and controversial image in The New York Times article, “At 25 ‘McPaper’ Is All Grown Up' " Neuhart, creator of USA Today acknowledges that the paper, which distinguishes itself from its competitors with large graphics, color photos and short, light articles, borrowed much of its structure from television.

From day one, USA Today received heavy criticism from newspapers like the Washington Post and The New York Times, who condemned the paper for not being committed to serious journalism.

After a change of leadership in the 1990s, the paper has incorporated more serious, in-depth articles into its glitzy, lightweight image.


Finding a niche helps you build a stronger business.

Co-Working Improves Social and Business Lives of Employees Who Work from Home

Feeling socially isolated as a result of working from home, Alex Hillman, a 23 year old Web entrepreneur, was inspired to create a local version of the new trend, co-working.

Co-working allows people who work from home to reap the benefits of working in an office, like socializing and sharing ideas. Without the distractions of home, it also helps employees stay on track and separate work life and personal life.

The article, “A Step Up From Working in PJ’s”, in The Philadelphia Inquirer highlights the co-working group using a work space at Independents Hall in downtown Philadelphia. With a chic interior design, conference room and kitchen, employees are willing to spend $175 to $275 a month to use the space.

To learn more about co-working visit:
http://coworking.pbwiki.com/

Independents Hall in Center City.
http://www.independentshall.org/

Workplayce in Elkins Park.
http://workplayce.net/

Decreasing isolation is an important step in building a stronger business.

Pay for Performance a Bad Idea

Harvard economist, Roland G. Fryer, has devised a plan to keeping inner city children motivated to succeed in school. The controversial new program would give fourth and seventh graders from lower income families, $100 to $500 for performing well on ten tests throughout the school year.

In The New York Times article by Joseph Berger, “Some Wonder if Cash for Good Test Scores is the Wrong Kind of Lesson”, advocates of the program say similar incentive programs in countries like Mexico have increased school attendance. Others believe the program will not only help underprivileged children, but children from all economic backgrounds by creating a driven, highly motivated school environment.

Opponents of the program believe that instead of being motivated by a love of learning and an inner desire to succeed and create better opportunities for themselves and their families, children would only be motivated by money.

Other opponents like Suzanne Windland, a Queens resident and mother of three, believe the program is unfair as it only favors lower-income children, which could spur resentment among the other classmates who don’t qualify for the program.

Genius Computer Game "Solves" Checkers

Chinook, a checker-playing computer program developed by Canadian researchers, can beat anyone at checkers.

The Canadian study entitled, “Checkers is Solved”, is discussed in Randolph E. Schmid’s article in the Philadelphia Inquirer’s, “Computer Scientist Say Their Program Cannot Lose”. According to the scientists, every decision the checker-playing program makes is 100% accurate. For the 39 trillion positions possible in the game, Chinook can calculate them all!

The emergence of unbeatable computer –playing programs has not stopped people from enjoying the game. Ernest L. Hall, director of the Center for Robotics at the University of Cincinnati, believes such programs will encourage people to solve “other games we encounter in life”.

Being the best is a smart position strategy when building a stronger business.

Perception Matters When Building a Business

In order to make her small real-estate and property management firm look larger than it actually was, Angela Ford invested in an answering service. Instead of reaching Ms. Ford, her customers would first speak to a live operator, who would only direct their calls if she was available. Her company's revenue has more than doubled every year since it began.

According to The New York Times article, "Making a Little Company Look Big" part of building a successful company includes creating the image that you are more successful than you initially are. Besides paying for an answering service, entrepreneurs can also rent office space and design a sophisticated Web site.

Evan Carmichael, a chief executive of small business, had his friends dress in suits and work diligently in a borrowed office space when a local television studio asked to interview him. After the segment was broadcast his Web site went from 150 visitors a day to almost 1700 a day.

People who build a stronger business realize that perception matters and take advantage of technology tools and marketing techniques to put their best foot forward.

Decreasing PC Power Usage Saves Billions

According to The Wall Street Journal article, “Computer Power Waste Targeted”, PCs waste half the power they consume and account for 2% of world-wide energy usage. Meeting an annual target led by Google Inc. and Intel Corp. to reduce energy consumption, could save more than $5.5 billion in annual energy costs and decrease 54 million tons of carbon dioxide emissions. The initial guidelines set by the EPA’s Energy Star program, raise PC efficiencies from an estimated 65% to 80%. The new initiatives seek to raise efficiency to 90% by 2010. The plan also involves getting companies to use power-management software on their PCs that would put inactive desktop computers into sleep mode to save energy. While the cost for energy-saving software would add $20 to $30 more on a PC and server, it could save the user $10 from $40 on an annual electric bill. When you take steps to protect your environment you build a stronger business.