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Having just returned from over two weeks in Australia and scuba diving the Great Barrier Reef, I’m suffering from jet lag and a mountain sized “To Do” list to catch up with my clients. Therefore, I have chosen to employ one of the Six Steps to Growing a Successful Business, called Leverage. Leverage means accomplishing ever more with ever less. We can leverage through people, money, technology, education, etc. Today I am going to leverage through another ActionCOACH, Terry Lussier, from Ontario Canada. Terry recently submitted an article to our newsletter (ActionSTEPS) that I think provides significant value in an area where many businesses struggle today – getting more sales. So here it is in two parts. Thank you, Terry.

John’s story

John had been doing very well in sales, but he knew he could do better. He called ActionCOACH and asked for help. He was making a good living, but felt that he wasn’t focused. He wasn’t spending his time, effort, and energy in the right places.

Even though John was making over $100,000/year, John was running on two cylinders – which weren’t running very smoothly. For years he’d said to himself, “Imagine what I could do if only I could get focused and manage my time better! Then I could make some ‘real’ money”.

When asked what his closing ratios were, John pondered the question for a few moments, and then said that he didn’t have the slightest idea. He had never kept any kind of statistical records.

We then asked more sales-related questions:

· What is the size of your average sale?

· How many sales did you make last year?

· What was your biggest sale last year?

· How much money did you earn on it?

· What was your smallest sale last year?

· How much money did you earn on it?

· What is the profile for your ‘ideal’ client?

· How many sales do you close on the first meeting/call?

· The second? The third? The fourth, fifth, sixth, or tenth?

· What is your best source for leads?

· What are your sales, profit and income goals for this coming year?

John thought about these questions for a few moments, and with a puzzled look on his face, he said in a soft, quiet voice, “I don’t know the answers to most of your questions, but if you’ll wait a moment I can dig up the answers to the others, I just don’t have that information at my fingertips.” He continued, “I was never much into record keeping. For the most part, I’ve just been flying by the seat of my pants.”

If you want to be successful, you must run your business like a business. You need to know:

· Who are your best (most profitable) customers

· Where they came from

· How much they spent with you

· Your most profitable products

· The average value of your sales

· Your closing ratios

You should have the answers to these questions at your fingertips. Without them, you’re like a sailor who is in the middle of the ocean without a compass, sextant, radio, radar, or GPS! You’ve no idea in what direction you’re going. Because John didn’t keep any records, he didn’t know where he was, and as a result, he didn’t know what changes he should be making in his business planning.

Tune in next week when we learn of the changes John made to his tracking and approach to sales that dramatically improved his sales and his lifestyle!

Rob Garibay is a local business owner and business coach with 30+ years of business experience. Forward your business questions to: 405 573-6537 or robgaribay@actioncoach.com

Welcome to Part 2 of Above or Below The Line. Last week we discussed the line of demarcation between victors and victims. Above the line behavior and thought is characterized by:

· Ownership

· Accountability

· Responsibility

These create the acronym: OAR, which we use to propel and steer our way to our dreams.

Below The Line behavior and thought is characterized by:

· Blame

· Excuses

· Denial

Three types of Responsibility

In Part 1 of this leadership topic we described below The Line behavior and then above The Line behavior, ending with a discussion on Responsibility. A good friend and mentor, Michael Carrigan, gave me a deeper understanding of the concept of responsibility by explaining that there are actually three types of Responsibility. I am convinced that this concept is one of the key differentiating factors between excellence and mediocrity. Pay close attention!

The first type of Responsibility is to be responsible. Imagine that! What does being responsible look like? To me it looks like someone who is trustworthy, thoughtful, and takes ownership. When they say they will do something, you can count on it.

The root of responsible is “respond”. Think of it this way; we don’t react, we thoughtfully respond. Ever react to someone cutting you off in traffic instead of thoughtfully responding with responsible action? Think about being responsible. Are these the type of people you want to hire and with whom you like to associate?

The second type of Responsibility is the opposite of being responsible – irresponsible. We all know how that shows up. Do you like to hire or associate with this type of character?

You might be thinking by now, “Well, what other type of Responsibility besides responsible and irresponsible can there be?” There is a third. In fact, this type of Responsibility is the most common. It is not often noticed because it is so subtle. It is called nonresponsible.

Nonresponsible is the assignment of cause or blame outside of ourselves for any occurrence within our sphere of control. For example, have you ever heard this statement: “That person made me mad!” Is that really true? Does that person actually have that much power, or did we allow ourselves to become angry? That is an example of nonresponsible behavior. It is below The Line!

Here is another example. Have you ever had an employee tell you that they would have met the deadline if so and so would have done their part? Do you see how pervasive nonresponsibility is within our culture? Imagine the transformation of your business if you could eradicate 80% of nonresponsible behavior and thought! Do you see why moving from a position of nonresponsible to responsible is an essential ingredient for excellence and why most are mired in mediocrity?

In my ActionCOACH practice, I have met dozens of business owners and their employees. During our first “rules of the game” meeting, we establish that working with each other means all meetings and interactions must remain above The Line. It is fundamentally impossible for change to occur in a business or in an individual when one refuses to accept responsibility for one’s own actions and self created drama.

You can transform your business!

Can you imagine the transformation to your business if every employee grasps and embraces living above The Line? As the owner of your business you must set the pace and the standard. Be harder on yourself than on others. “What you do speaks so loud that I can’t hear what you are saying!” If you are playing above the line most of the time, below the line behavior becomes intolerable.

Call to action

As a coach, it is my job to help my clients to build their mental and emotional muscle so that they can handle the challenges in their business from a stronger mental standpoint. Therefore, I issue to you a call to action. Explain the “Above or Below The Line” concept to your employees. Form an agreement whereby if an employee has a complaint they are free to articulate that complaint. They must refrain from blaming anyone, making excuses or denying they are part of the problem. They must come to the table with a “solution” and remain above The Line.

Mount an “Above or Below The Line” poster in a predominate place in your business as a visual aid (Contact me if you want one). Do you think that this practice will create a more productive and harmonious working environment? Only if you set the pace!

Rob Garibay is a local business owner and business coach with 30+ years of business experience. Forward your business questions to: 405 573-6537 or robgaribay@actioncoach.com

Business owners, your business is a direct reflection of you! Its success, or lack thereof, and the circumstances surrounding it are all a direct reflection of you.

I feel the resistance already. “But you don’t know my circumstances, and you don’t know what it’s like to be in my business!” That might be true, but that does not negate this truth. Ignore it at your peril!

Our decisions matter

Where we are today is the result of the thousands of decisions (choices is a more PC word) that we have made to this point in our lives. When we look behind us to view the path of our lives to date, and then look forward in a direction that is in line with our history, we create a trajectory. Is that trajectory in the direction and on the pace that we want? If it isn’t, then we must change the way we are thinking, our perception of life, and/or our attitude.

Above or below The Line

I am going to introduce to you a concept that is simple, yet profound. This concept is by no means a cure-all for what ails you. It is a necessary, but insufficient ingredient to your success. At ActionCOACH, we call this “Above or Below The Line”. Are you above or below The Line? You are probably thinking: “What exactly is ‘The Line’”? To my clients who are reading this; you already know what “The Line” is, but don’t stop reading because none of us have completely mastered being “Above The Line”.

Victor or victim?

“The Line” is a demarcation separating two types of attitudes; separating victors from victims. We choose to operate either above The Line or below The Line. If we venture below The Line we find Blame, Excuses and Denial from which we can construct the acronym BED. This connotes inactivity and lack of progress, as in: “You made your bed, now lie in it”.

Below The Line

Do you know victims? They tend to blame circumstances or others for their lack of progress. How many times have you met an individual who tells you that their problems are the fault of “my relationship with my parents, my divorce, my banker, my business partner, my employees, my bad luck”, blame, blame, blame. Such negative talk, habitually embedded in the subconscious, does eventually become reality.

Or, they make excuses. We all know what that sounds like. And finally, occasionally they are in complete denial – like the business owner who has been losing money every month, but maintains they are not going out of business. Do we like to be around these types of people? Do we want to hire these types of people? Then why tolerate ever operating below The Line from ourselves?

I make a pact with each client of mine early in the coaching process. I give them permission (in fact request that they do so) to call me on the carpet when they see “Below The Line” behavior in me. I also have that pact with my wife, which can be painful at times! I then request permission from my clients to provide the same growth stimulation for them.

Above The Line

When we venture above The Line we find Ownership, Accountability, and Responsibility from which we can construct the acronym OAR; allowing the opportunity to steer your own boat wherever your dreams take you!

Ownership means that I own all things over which I have control and I own my response to all things over which I have no control. It also means being willing to accept the fact that it is my responsibility to properly differentiate between the two. What happens if I incorrectly label something as out of my control, when I really had some control? I’ve ventured below The Line!

For example, I arrive late for a meeting because of slow traffic. Ever made that excuse? It is true that I had no control over the traffic, but isn’t it also true that I had control of when I left for the meeting? Did I only allow enough drive time for ideal traffic conditions? If so, then it’s my bad!

Accountability is one of those areas where we business owners tend to falter. After all, didn’t we start our own business so that we wouldn’t have to answer to anyone? Guess what! If we think that is the case we are below The Line! We are accountable to our employees, our customers, our board, our families, and, if we are smart, our coach. When we say we are going to do something, do we do it without excuses?

And finally, we find Responsibility above The Line. Even though this word is common and might sound trite, the concept that I am going to share with you is profound. In my opinion, this concept is one of the defining differences between excellence and mediocrity! A friend and mentor of mine, Michael Carrigan, taught this to me. It has made a profound impact on my life. I teach this to all of my clients. Now you have the opportunity to learn it. There are three types of Responsibility. Do you know what they are?

Tune in next week to find out!

Rob Garibay is a local business owner and business coach with 30+ years of business experience. Forward your business questions to: 405 573-6537 or robgaribay@actioncoach.com

Whew! This business plan series took on a life of its own! I started this series on April 5^th and now it is August! For those of you who stayed with me, I hope that it was beneficial. If you want the complete series, contact me.

Whether or not you are in search of startup or growth capital, having a written plan will dramatically increase the odds of your success. In writing this series, I wanted to make sure that I included the most demanding circumstances surrounding the writing of a business plan – that of raising venture capital funds. If you are not in the hunt for outside capital, should you write a business plan? Absolutely! Need it be as extensive as a plan targeting outside investment? No, it should be adequate for keeping your business on course to achieve your vision.

What do I do with this plan?

Let’s fast forward. Now that you’ve completed your business plan, are you finished? Do you put it on a shelf like a trophy? Unfortunately, too many businesses owners fail to receive full value from their business plan writing efforts. As important as planning is to success, it is the execution of that plan that turns a vision into reality. Do not make the mistake of thinking “Now that I’ve written a business plan, I’m going to be successful”. Success is found in the execution of the plan, and in revising the plan as conditions change. Use your plan as a dynamic aid to running your business and visit it quarterly to create 90 day action plans. Revise it annually.

Back to the present – here are five steps to follow, from fellow ActionCOACH Kevin Weir, to successfully begin your plan:

1. Know where your business is going – 5 -10 years from now.

2. Break the plan down into realistic chunks. This is where quarterly planning helps you to create 90 day action plans for stair stepping your business towards your vision.

3. Assign tasks to team members. Involve your executive or management team in the creation of the plan.

4. Dedicate a block of time to thinking about and writing your plan. Many successful entrepreneurs invest a week away every year for the sole purpose of deep thinking about their life and their business, with the goal of emerging from their 5 – 7 day sabbatical with a plan for each. Then dedicate one day away quarterly to create the next 90 day action plan. Think about how your business would benefit if you actually implemented this practice!

5. Have a business coach assist you. An outsider’s perspective provides incredible value, such as:

· Idea generation

· Guidance through the business plan writing process

· Asking hard questions to test your assumptions. (The major reason for unrealistic business plans is failure to test assumptions.)

· Avoiding unforeseen pitfalls

Make quality decisions

The situations and conditions surrounding our lives and businesses today are the cumulative result of the thousands of decisions that we’ve made until this point. The quality of our decisions determines the quality of our lives. The quality of our decisions is related to the quality of the questions that we ask during the process of coming to a decision.

One of my mentors, Keith Cunningham, once told me: “The quality of our decisions is directly related to the number of conflicting concepts that we simultaneously entertain while in the process of coming to a decision”. Keith is a very successful entrepreneur, teacher, and coach. Realizing that we become emotionally attached to our decisions, Keith uses a small advisory group to increase the quality of his decisions by cutting away emotional equity.

When Keith has an important decision to make, he performs his due diligence, creates a plan, and arrives at a decision. He then assembles his advisory group and presents his decision with the path that he followed in coming to that decision. The purpose for the advisory board is to talk him out of that decision! Regardless of whether or not Keith changes his mind, do you think that this practice increases the quality of his decisions? Because of the emotional attachment that we tend to have to our decisions, this can be painful. process. However, is it worth enduring the discomfort of cutting the emotional ties to our decisions in order to stack the odds in our favor that we are making the best decision for our business and our future?

A call to action!

With that said, I am issuing a call to action to all of my readers. Make a plan that will enable you to achieve your vision. Assemble a group of trusted advisors, not “yes” people, who will be willing to ask you hard questions. Be willing to endure the discomfort of being challenged for the sake of achieving your dreams!

Rob Garibay is a local business owner and business coach with 30+ years of business experience. Forward your business questions to: 405 573-6537 or robgaribay@actioncoach.com