Modern Legacy

This is the most blatant example I've seen about how a traditional business can adapt the internet revolution to increase value.

I sat down with a high school buddy, who for the last 40 years has run a specialty instrument company. These instruments, which are globally famous, are used by labs, hospitals, and research facilities - they are the clear leader of biological/electronic devices world-wide.

In the past we rarely met in person due to her extensive travel schedule around the USA and Europe for business development and distributor recruiting and training.

When asking about the business, I was surprised by the changes since we last met – her travel is now almost nil while sales are steady.

Her explanation:

• Each instrument is showcased by a 5-minute video showing the features from the users viewpoint, how to do typical operations/tests, and a sample of output/report options.
• The videos are incorporated into their website and available on demand at any time
• There is an 'anytime' link to take the viewer directly to the pricing/purchase screen
• She has become the entire sales force, supported by their website and videos
• A global network of warehouses to provide immediate local delivery has been consolidated to single central national warehouse near an airline hub for overnight shipping.

She now spends time with customers by phone and video conference and uses their input to guide development of new features and products. As a result, her improvement cycle captures and responds to changes suggested by her users, who she admits, know more about the products than the maker.

Effective use of the internet, immediate shipping, collaboration with users, and a rapid development cycle has dramatically transformed this manufacturing business. 

A poster child of the trend for the future?

The Artist

As a young boy I lived with my family in Cuba, where my father was stationed. We lived in a village near the Guantanamo Bay Naval Base, and I played with the neighborhood kids or fished off the back deck of the house (when I wasn't in school).

I have a vivid memory of a street vendor, wheeling a rickety cart down the dirt streets each day selling oranges. To a young child's eyes, these oranges were huge (so sweet you had to smile while eating them), and the vendor would peel it for a buyer. He was full of fun, jokes, and laughter as he made his way down the dusty street, clearly enjoying life, his customers, and followers (us kids).

What I remember most was him peeling the orange – he had an old kitchen knife, sharpened so much that the cutting edge of the blade was curved like a replica of Guantanamo Bay – but sharp as all get-out!

He started at the top of the orange and create a single 'rope' of peel precisely a quarter of an inch by a quarter of an inch – it would cascade down in curlycues from the orange at almost blinding speed. Perfect every time. One long peel every time. A peel-rope with ¼ x ¼ dimensions every time.

We kids would follow him for a while, begging for the peel and playing with it until we only had a handful of pieces left...and then we'd beg for another one from the orange vendor.

As an adult, I look back to that experience fondly, realizing that I was seeing an artist at work. He chose to spend his time enjoying those around him and chose to create and meet the challenge of peeling the orange in a distinctive and incredibly difficult way – drawing satisfaction from his creation. I realize now that I was in the presence of a true master – an artist creating a unique experience for the buyer (or the kids following him around).

Illustrations of the orange vendor at work today – the 'bagger' at the Costco checkout who engineers a precisely packed cart.

I think about the expressed desire by many in business and public service to have the higher-ups create a challenging and rewarding role for them – and wonder if the manuals, regulations, and procedures we've put in place have extinguished the 'artist' in each of us?

Where Is Your Next Buyer?

Where will your next buyer come from?

Sales happen at the intersection of what the buyer needs, what you offer to provide, and a connection between you both. This may be from a conversation across a desk; from an 'ah ha' insight in your blog or presentation; from a referral by another party; or from the other ways of talking your business.

Regardless of how these three elements converge – it is the engagement that's the catalyst for aligning buyer's needs with seller's solutions.

At a program by the Smith School of Business at the University of Maryland, Pamela Wagner, Vice President of W.R. Grace was speaking about the reduction of employee engagement worldwide and her thoughts on why.

While writing notes during the presentation, I realized that the same also applies to customers – current and potential.

Here's a formula Wagner offered to describe the engagement gap:

Volatile Economy creates insecurity

Plus

More Work with fewer employees and resources

Equal

Less Sustainable Engagement.

Uncertainty and stress are distracting – affecting employee involvement and the buyer's willingness to commit.

Since the environment is not likely to change soon, the key question is: how do we get ahead of the distraction?

Learning From Students

The Smith School of Business at the University of Maryland held 'mock interviews' and I had the honor of being an interviewer.

The students came eager to learn from this role-playing exercise. The 'interviewers' are seasoned individuals - most are Smith School Alumni - and well experienced in hiring superior candidates.

My 'interviews' found the 'applicants' well prepared, articulate in expressing themselves, offering direct answers to the questions, and telling stories of relevant situations from earlier part-time jobs.

What did I learn from the students? They are talking about the new normal in the past tense.

An accounting student commented on the radical effect of systems and digital files on the audit function – now requires a team of 2 instead of 10 associates – and felt that a second major in finance will help prepare her for the demands of clients for specific services.

Several other students were in dual-major programs as well – finance and accounting would be partnered with Information Technology – to be agile with both the knowledge and systems recognizing the evolution of these practice areas.

One individual, majoring in finance-accounting, finds math a rewarding exercise in solving puzzles, is a landscape artist, and an avid sports player – had marvelous stories to illustrate answers to interview questions from rich past experience.

Taken together, students are drawing from numerous resources to develop a pretty accurate view of the maturing changes of computerization on processes and practices. In addition, they find time to pursue other interests and gain other experiences – which gives them balance and well-roundedness while providing illustrations to help communicate ideas and concepts.

They are soaking in the various inputs and coming up with a new look of operations of organizations from the outside, while many of us in the working world are heads-down on projects – not seeing the changes around us. 

CEO – SEO – OLAP – BPM - OMG!

Two CEOs were out in the wilderness when a bear saw them and was lumbering toward the two. One CEO took off like a champion sprinter while the other CEO stood with a pondering look on the face.

When the first CEO saw the other one 'frozen' to the spot, he ran back to help – when close he yelled asking what's the problem, 'that bear looks really hungry!'

The motionless CEO turned and said – 'All the analytics are not in yet so I don't know what the optimal response is!'

This story illustrates a paralysis that some leaders experience when they get too deep into decision by analytics or relying too much on external measures and factors.

Before the computerization of records and measurement, analytics were done by hand and the investment in time and labor helped to focus what was important to the success of the mission and targeted results. Now that records and measurements are readily available for virtually anything about the organization, market, economy, and global situation.

It is possible to compare the atomic clock to the system clock to determine time-drift...but why bother? What would be learned?

SEO, OLAP, BPM analytics are useful – like the rear-view mirror in the car is useful, or reading a map before leaving on a trip. Planning for detailed measurement and analysis is effective when done 'backwards' – start from the desired outcome and back into the best way to obtain the information. In addition, limit the routine reporting to a handful of informative items – I had real-time access to a dozen key indicators, like cash, receivables total & aging, payables total & aging, sales volume & scheduled delivery, production output, labor-force & hours, and accrued vacation – which gave me a good picture of current conditions.

Sometimes we can get so caught up in measuring and interpreting that we delay action...and the bear get's us!

What are the most useful key indicators?

Rainmaker 16 - LinkedIn: Your Personal Publicist

Do you show up at your best for other 175 million LinkedIn members?

Many posts have been written about developing your profile and contact information for the 'yellow pages' of the professional community – the top part of your LinkedIn page. While this is important and you must build a strong profile and history, it is like filling in the entries for your school year book when compared to your visibility and growing legend by participating in the groups.

To showcase your knowledge and experience by starting discussions and writing comments on other posts – when you continue the conversations and add depth, you get more visibility. Blogging is more demanding than a discussion and commenting – but each is a positive addition to your legend. Be positive when commenting and show your knowledge and mastery.

Here’s how:

Be serious – Start a discussion and comment often and consistently – start a discussion once a week and comment on 2 posts per day

Stick to the topic posted – focus your comments on the topic, add to the body of knowledge

Want to change topics – write a post – don’t derail – create your own; comment on comments your posts receive – no arguments, only write positive points

Read an interesting post?- repost it in your group but add value by offering your comments about why you.

Chose LinkedIn groups with topics of interest to you professionally and on which you can contribute to the existing body of knowledge.
You can leverage you visibility in the professional community by using the LinkedIn groups, discussions, and commenting.

Definition: A Rainmaker creates a significant amount of new business for a company. The Sales Lab Rainmaker Series is one rainmaker technique for technologists during the first 300 seconds (five minutes) of the monthly Capital Technology Management Hub Meeting.

Here's the growing collection:

Rainmaker 15 – Make The Most Of Your Choices

Rainmaker 14 –The Myth of Full Capacity

Rainmaker 13 - Making the Most of Opportunity?
Rainmaker 12 - The Future is NOW- Makers
Rainmaker 11 - What Have I Done For You Lately?
Rainmaker 10 -Tune Your Work for the Internet

Rainmaker 9 - Your Internet Personality

Rainmaker 8 - Google + Your Personal Website

Rainmaker 7 - Mark Your Territory

Rainmaker 6 - Networking IS Business

Rainmaker 5 - Start With an Offer

Rainmaker 4 - Time, Talent, and Treasure

Rainmaker 3 - How to Sell Your Skills

Rainmaker 2 - The Name Tag

Rainmaker 1 - Gifts
And The First Rainmakers (11/3/10)
Go to: http://bit.ly/TheRainmakers

October 9^th is the next Capital Technology Management Hub meeting featuring this Sales Lab's Rainmaker 16 LinkedIn – Your Personal Publicist - 300 seconds of pure profit. The main speaker will be Philip H. Smith III of Voltage Security, Inc., presenting The Payments Ecosystem Security Challenges in the 21st Century.

Advice – It's Amazing What Is Heard

Periodically individuals have asked for advice about personal career situations – more so in recent years as folks transition to new roles and organizations, or the search for them.

They start with a description of the circumstances and talk about their concerns.

As I am conjuring up any wisdom I have on the topic, I couch my comments in terms of what I'd do in similar circumstances, and then share the details.

In some cases, the listener's response is a 'Yeah-But' objection before really considering the approach – here's why that won't work for me. After a few of these responses, it seems clear that suggestions for a solution is not the intended goal of this conversation.

When wrapping up the talk, I say this is my view of how I would address the issue, but the listener would be wise to get another view or two and consider the ideas offered in terms of what is best for you.

Recently, I ran into someone who had asked for my advice when in transition – he has landed and is quite happy in the new position. He said that my advice served him well in successfully landing a new position with exciting challenges and significant opportunity.

To learn from his feedback, I asked what was the best thing he took from our earlier discussion, fully expecting that some aspect of my approach to the issue was the key.

His response: you said get others opinions and consider the information in terms of what is best for me.

The comment brings into sharp focus that we have control over what we say and the points we make – but the listener determines what they hear, interpret, and retain.

It's amazing what is heard.

What are you taking away from my story?