Showing posts with label Management. Show all posts
Showing posts with label Management. Show all posts

Saturday, November 3, 2018

Scott Stein and His Clever Leadership Hacks & Shortcuts to Boost Your Impact and...

In this interview, Scott Stein talks to Alexander “The Engineer” Lim, host of AuthorStory by alvinwriter.com, about his book, Leadership Hacks: Clever Shortcuts to Boost Your Impact and Results.



“If they [leaders] can delegate, they can actually get a lot more things done in less time.” ~Scott Stein

Scott Stein has collected a great number of hacks from various leaders whom he has dealt with in the past twenty-five years, and after sharing these with several other leaders, it often was the case that the latter would ask him to write those hacks - effective shortcuts which help boost productivity - so they and their people could refer to these. The result was Leadership Hacks, which is portioned into sections in such a way that a reader wouldn’t need to read the book from cover to cover to get anything out of it, and instead just check on the section he or she is interested in so they could improve their effectiveness.

The top challenges facing leaders today, according to Scott, is not having enough time for them to do everything they need to do. This results in leaders taking shortcuts which may be inappropriate in the long run, as they will eventually need to work harder and will need to deal with any negative consequences of such actions on their people. Where leadership throughout time is concerned, one of the biggest challenges has been having one’s people take action in a manner the leader wants, and this has been exacerbated at present by the need for leaders to make decisions and take action quickly. Scott notes that leaders today need to be smarter in the way they work, so they can be more efficient while not skipping steps as they go along, and the book provides practical advice and procedures for doing so.

Scott notes that there are quite a few books on leadership out in the market today are done by academics who have never had any practical experience in leadership and also remarks that there are leadership programs available today which might have been applicable a half-century ago but which are not applicable today.

Scott notes three categories of hacks where leadership is concerned, all of which he has hacks for:

  1. Personal hacks - the things leaders can do to help them work smarter.
  2. One-on-one hacks - when a leader interacts with one of his subordinates.
  3. Team hacks - when a leader interacts with his team or organization.

One of the hacks that Scott mentioned was how to hack one’s inbox, which is particularly vital if the leader is in charge of an organization with literally thousands of people. Moreover, according to a McKinsey Global Institute report, leaders spend around two and a half hours of their time each day reading and answering e-mails, which makes hacking one’s inbox important. Scott mentions a four-step e-mail inbox hack which he picked up from a global HR leader who deals with 15 countries and over 10,000 people under her. The process is as follows:

  1. Scan the e-mail.
  2. Delete anything that is not important, to eliminate visual clutter.
  3. Sort the remaining e-mails according to level of importance.
  4. Respond to any necessary e-mails.

Scott also gave some advice on how to get e-mails responded to, and this is by telling the recipient, in the Subject line or at the very beginning of the e-mail, what the desired outcome is. There are five different types of outcomes, which give context to the reader, viz.:

  • FYI - I just need to give you information.
  • I need some information from you, can you share this with me?
  • A decision needs to be made.
  • I need you to take action on this.
  • We need to have a meeting, because what we need to discuss is too complex to communicate over an e-mail.

Where delegation is concerned, Scott notes that, according to a Harvard Business Review article noted that more than half of the companies surveyed were concerned about the ability of their leaders to delegate. Scott believes that most leaders don’t delegate because of the time concerns, as leaders feel that the job could be done more efficiently, and in the way the leader wants it, if they did the job themselves, rather than giving it to a subordinate and having him mess it up. Leaders also might not trust their subordinates, for whatever reason, or might not have trained their subordinates properly, which makes leaders reluctant to delegate, and Scott notes that there are no organizations that give leaders a process on how to delegate, and then remarks that there are four levels of delegation.

Level 1: “Don’t do it, because I’ll do it myself.”
Level 2: “Let’s work together to map out / write down the activities, and the sequence that the activities need to be taken, along with a time frame for doing these.”
Level 3: “Create your own map on what needs to be done, and I’ll check on it before you carry out the task.”
Level 4: “I’ll give you this task to do, and then check on you later.”

Moving one’s staff up these levels, Scott notes, empowers the staff and gives the leader more time to handle other things.

The three ingredients of leaders who are admired by other leaders have three aspects which enable them to get things done in a way that motivates their people:

Mindset - open to learning and trying new things. This is the Growth Mindset mentioned by Carol Dweck in her book, Mindset: The New Psychology of Success, as opposed to the Fixed Mindset, as the Growth Mindset is the belief that one can cultivate one’s learning as well as learn from one’s mistakes.

Approach - the steps taken and how one’s subordinates are engaged so that they will take those steps.

Impact - on the people around the leader.

A lot of leaders learn into becoming a leader, according to Scott, and these leaders often guess and decide along the way, where risky decisions and possible new ways of doing things are concerned.

There are four different kinds of team meetings, according to Scott, and these should all be done separately, rather than all mashed together into one major meeting, as each meeting has its own process. Scott notes that meetings are a waste of time, according to nearly half of the recipients of a survey given, and the types of meetings are:

  • Check-in meeting, where the leader checks in on the work done so far.
  • Problem-solving meeting, where a problem is discussed and solved. This may require the presence of people who have expertise in the problem concerned and does not require the presence of those who are not involved with the problem.
  • Decision-making meeting, after which action will be taken.
  • Strategy-development meeting, which is a planning meeting that looks into the future.

Where technology is concerned, Scott points out that, according to all the research done on the topic, technology is highly distracting. Even having a smartphone beside one can reduce cognitive thinking and ability, because of the notifications that come in; and the impact extends into family life, when a leader is stuck to a screen when the rest of the family is around and wants to spend time with him.

Purchase from Amazon: Leadership Hacks: Clever Shortcuts to Boost Your Impact and Results by Scott Stein

Sunday, August 26, 2018

Lisa Rehurek on How to Do Better in Business and Win More with RFPs

In this interview, Lisa Rehurek talks to Alexander “The Engineer” Lim, host of AuthorStory by alvinwriter.com, about her book, The RFP Success Book.



“Don’t try to do it all by yourself.” ~Lisa Rehurek

RFPs are Requests for Proposals, which are issued by organizations such as large corporations or the government, who look for contractors or vendors who can supply the needs of that organization. RFPs can be as short as a few pages or, particularly in the case of the United States federal government, can run into thousands of pages. The responding businesses need to submit their requirements and experience and solutions for the proposal seeker to then see how good the fit is with their needs.

Because of the occasionally detailed RFPs issued, Lisa’s present business is to aid small businesses, which would most likely not have the necessary manpower or competency to respond accurately to RFPs, do just that. The RFP Success Book was born out of Lisa’s realization that she kept on repeating the same themes over and over again with her clients and in her blogs, and as such it would probably be best to put all of these themes into a book for all and sundry to read and learn from.

Lisa notes that, in addition to the technical requirements and specifications, RFPs can also include such requirements at legal, insurance, price points, deadline for submission and even if the response needs to be printed on recycled paper and what the specific margins and font of the reply should be in. While big companies have an in-house RFP team which works solely on analyzing RFPs, small companies - who may receive only six to ten RFPs a year - don’t have such personnel and are likely will not have the competency to do so, as these small companies are likely to be staffed by people who are dedicated to the company’s core business.

Lisa points out that successfully responding to RFPs is important for businesses, particularly if the contracts are worth millions of dollars and can last years. She notes that those submitting proposals should meet the requirements and understand what the evaluation criteria are, and also remarks that one of the top mistakes that businesses responding to RFPs make is not answering the question that is asked for, such as giving a ten-page answer on their company’s history rather than explaining their methodology to complete a particular task. Lisa also remarks that the businesses responding to RFPs should take particular note of multi-tiered questions, such as asking for different kinds of pricing and then providing the details to these.

Lisa notes that businesses should take note of what the client needs and wants. She also notes that responders should remember that, at the end of the day, it will be a person who will be reading the RFP response, so it should appeal and maintain that person’s interest accordingly as well as ensuring that the proper solution can be provided. Based on her experience, Lisa remarks that around ten percent of all RFPs are rejected outright, and that around half fail to impress with the proper solution. Getting an RFP rejection does have an impact on a business, she notes, as a lot of time and effort would have gone into answering the RFP, which could be torpedoed by one, single mistake.

Businesses should also be aware that an RFP is also essentially a sales and marketing call, and that standing out from a bunch of other RFP responses will increase one’s chances of successfully getting the contract concerned, according to Lisa. It is thus important that companies be able to translate their technical speak into something the RFP evaluator can understand, as the latter might not have the same level of technical expertise as those responding to the RFP may have.

Businesses, particularly those who get RFPs from the government, may have to play a waiting game, as their potential clients may take months before finishing evaluating the RFP responses they get, and this does have a potential impact on a business, where staff and resources are concerned, as these might not be sufficient to cover all of the contracts awarded. Management of RFPs is thus a vital part of a company’s business.

To those who would respond to RFPs, Lisa would say to really pay attention to answering the question as it was asked, and then to be as simple and as succinct as possible in their reply, as a business has only two or three seconds to appeal to, and attract the attention of, the one reading the reply. She also advises that businesses not get intimidated by the RFPs they receive, and to get help from others to successfully respond to these.

Purchase from Amazon: The RFP Success Book by Lisa Rehurek


Saturday, June 9, 2018

Danny Kofke: How to Be Wealthy on a Teacher's Salary (Even if You're Not a Teacher)

In this interview, Danny Kofke talks to Alexander “The Engineer” Lim, host of AuthorStory by alvinwriter.com, about his book, The Wealthy Teacher: Lessons For Prospering On A School Teacher’s Salary.



“It’s really easy to spend money without thinking about it.” ~Danny Kofke

The Wealthy Teacher is actually Danny’s fourth book, all of which deal with creating financial freedom for oneself based on his own experiences of doing so on a teacher’s salary. His methods have resulted in his presently being debt-free and have enabled his wife to be a stay-at-home mom for nine years, with the family living on his salary alone. The Wealthy Teacher is intended to make the reader look at one’s overall financial picture and take the exact steps needed to create financial success - the kind which, Danny explains, would enable someone to leave one’s employment if one dislikes the situation there.

Danny’s childhood environment was a happy one, despite his family not being well-to-do, and it was then that he noticed that those among his friends who had a lot materially weren’t happy - something he continued to notice amongst adults as he got older. When he married, he agreed with his wife that she should be a stay-at-home mom and look after the children for a few years, which meant that they needed to get their financial plan straight for the next several years, one which would keep them out of debt.

Where a teacher’s salary is concerned, Danny notes that, over time, a teacher’s salary is a decent amount, but salaries are low for beginning teachers, which presents a challenge at a time when one is establishing one’s life and career. Danny notes that the low pay is particularly challenging to today’s teachers, as they also have to deal with the home life issues of students and that, even before they start working, teachers already have to deal with student loans.

Where the average American is concerned, Danny recalls a survey recently conducted which showed that around 70% of all Americans would need to borrow money to cover a $400 emergency. For his part, Danny has a one-year emergency fund and a retirement account as well as having no debt, and more importantly he and his family live wealthy lives.

Debt is “90% behavior,” according to Danny, pointing out that income and outflow is 8th-grade math. It’s easy for people to spend money to make themselves feel good when they feel unhappy, and Danny points out that that the feeling of “good” doesn’t last long while having an impact on their future financial standing. He also points out that people get into trouble when they spend more than they earn, citing a survey done by a sports magazine which noted that several NBA players file for bankruptcy five years after retirement.

Danny notes that people not only need to have short-term and long-term goals financially, but also need to know the why behind those goals. The example he gives is of wanting to have enough in retirement to enjoy outings with his grandchildren, which keeps him from buying a brand new car and placing what would have been his monthly payment money for the car into his retirement fund.

The Wealthy Teacher includes things to do to get people on the path to financial freedom, starting with setting goals and knowing why, after which he goes over such things as having proper insurance and getting a will. He also goes into saving an amount for expenses and having an emergency fund, then about getting out of debt, which he notes is essentially money one owes before one even gets a job. Danny points out that life and consequent expenses happen, and that having a financial margin available turns a catastrophe into a mere inconvenience. He also then notes about investing for retirement and then paying off one’s mortgage, finishing off with being financially free.

Danny notes that the concept of “wealth” is subjective, as being wealthy is what one makes of it, and his definition of wealth is having the freedom to pursue what one is passionate about. He gave the example of being able to travel around Europe during his two-year stay in Poland with his wife while still being able to save up money for the inevitable return to the United States, which meant that neither of them felt deprived of the experience of living overseas. Danny noted that they were able to save because they paid themselves first by putting aside, as soon as they got their paychecks, a fixed amount of money for their future needs, which gave them some $20,000 to start off their life in the United States. This practice is the reverse of how most people operate, in that the latter pay off their expenses first and then enjoy what’s left.

Danny’s basic advice to people, particularly those starting out in life, is to keep track of their expenses, to know where, exactly, their money goes. He and his wife did just that for a month, shortly after they got married, and the figures they came up with helped them set up their monthly budget. Danny notes that most people have an outflow problem, rather than an income problem. He also points out that a lot of people don’t take advantages of the opportunities offered them because they literally can’t afford to, and gave the example of his becoming an author because he could afford to take advantage of that particular opportunity, which has consequently enriched his life in many ways.

Purchase from Amazon: The Wealthy Teacher: Lessons For Prospering On A School Teacher’s Salary by Danny Kofke

Saturday, September 17, 2016

Gina Catalano on Tandem Leadership Management

Gina Catalano talks to Alexander “The Engineer” Lim, host of AuthorStory by alvinwriter.com about her latest book, Tandem Leadership: How Your #2 Can Make You #1.



“Execution is what’s going make your big idea a great idea.” ~Gina Catalano

Gina had run a few manufacturing companies before starting her own consulting business, where she noticed that entrepreneurs were brilliant with the product or service they delivered but struggled to build their business team, particularly with people who could do the duties they themselves did. Gina worked with these entrepreneurs, using the principles she learned to scale up their businesses.

The book, Tandem Leadership, was originally intended for entrepreneurs of small companies who are seeking to expand their business, but it turned out to be useful to anyone. It sprang from a comment made to her at a seminar, when someone told her that a book on leadership would help out companies that were struggling with their management team. As one of the reasons she wrote it was to help others whom she couldn’t help out in her consultancy business, Gina had originally created the book in a standard “how to” format. But after some conversations with her editor, she reverted to writing the book in storytelling format, akin to fiction, which was fine with her, since she had always thought of writing a novel. In addition to telling a part of the story and presenting the principles Gina wanted to point out, each chapter has a few questions for the reader to reflect on.

Gina agrees that not much attention is paid to the COO (#2) position where management books and doctrine are concerned and mentions that she originally intended to write Tandem Leadership from the point of view of the #2 organizational leader. She points out that even solopreneurs have key partners or a virtual assistant who acts as their #2 and that, over the course of her career, she has had the opportunity to be both a COO and a CEO. She uses the metaphor of the bicycle to make her point about how much easier the work is when two people are involved.

Gina remarks that, the sooner an entrepreneur thinks about the things that the entrepreneur is doing (which can be passed on to someone who can do the work for a lesser cost than the entrepreneur does), the better, even if hiring someone is still months down the road.
Gina works with entrepreneurs to create the future that appeals to them (such as having more time to be with their children) and which they can look forward to with all the available free time and resources that come with handing off some responsibilities to others and earning more money.

Gina admits that entrepreneurs usually don’t have a picture of what it’s like to have a #2, or what kind of #2 they would have. She remarks that #2s should complement the CEO rather than being just like the CEO (which emphasizes the blind spots both would have) or being the opposite of the CEO (which creates some loopholes). Gina says that CEOs are outwardly focused, while the COO is internally focused, is better at the CEO at some things, such as handling people, and are more interested in getting things done than in getting credit. She recommends that CEOs just tell their COOs what needs to be done and then let the COO to do things by themselves, rather than running close herd on them. Gina recommends that a CEO meets with his or her CEO regularly and effectively, meeting more often and in shorter time spans rather than getting involved in long meetings.

Gina is presently working on her next book, which is intended for #2s, and may also write something regarding succession in family businesses. She also remarks that being open to doing things in a different way, and then sticking with it long enough to master it, will get one further down the road than changing things every so often.

Gina Catalano’s website for her book, Tandem Leadership: How Your #2 Can Make You #1, is tandemleadershipbook.com.

Purchase on Amazon: Tandem Leadership: How Your #2 Can Make You #1 by Gina Catalano