Are you “in”? Lessons from a Shark Tank

I was recently asked to be a judge at a local entrepreneur contest inspired by the TV show “Shark Tank”.  The contest participants were students at Las Positas Community College, enrolled in the Business & Entrepreneurship program. Here are four of my takeaways after that half day experience:

Discussion with fellow judges Bobi White and Troy Witt

1. The future is in good hands. Relax, my friends. Yes, the challenges we face today (global, national, and local) are daunting, yet the young professionals and youth of today have the courage, drive, and creativity to confront these formidable challenges.

Ideas were on display at the Las Positas College 2014 Shark Tank

2. Barriers to Software Innovation are simply gone. We all know how easy it is to create software products (e.g. apps). The developer languages and tools we have today are making software development easier, cheaper, and more accessible than ever before.

Dayllan Maar won for his music composition app

3. Barriers to Collaboration have dropped. When did the Internet hit its stride? There are many answers to this question, but in this context the Internet hit its stride when barriers to collaboration dropped. Many participants in the contest were actively working with others in different parts of the world. The entrepreneurs of today have access to talent and knowledge on a global scale…and they are already experts at finding it and using it.

4. Barriers to Prototyping are lower than ever. Forget what you used to know about 3D Printing…this technology revolution is just getting started. It promises to usher in an era where rapid prototyping allows ideas to be explored and refined much earlier (and cheaper) in the design process than ever before.

Taylor Peissner and Anish Desai won for an all-in-one cell phone case

As the pace of progress continues to accelerate around the world, it is inspiring and comforting to know that young people have the ability to not just cope with the world, but to shape it.

May you dream bigger, reach higher, and achieve more!

Coach Alay

You’re Not As Smart as You Think

We’ve all done it: we’re listening to a lecture and we think to ourselves, “I know this,” or, “this is so obvious,” or, “this doesn’t apply to me.” Then we mentally check out.

This mindset is affectionately known as psychosclerosis, or a hardening of the mind. The mindset grows over time as we accumulate experience, success, and confidence. For a person trying to reach that next level of success, psychosclerosis sabotages one’s efforts by shutting down creative and critical thinking, and blocking the person off to new perspectives and incremental improvements.

You earn the Winning Edge by doing the little things a little bit better than your competitors.  Sports contests are often decided by fractions of an inch or fractions of a second. Business is similar. Those who consistently win know it’s about relentless improvement, consistency, discipline, and passion.

Psychosclerosis is the bane of top achievers because it stymies our ability to recognize and seize the Winning Edge. Yes, you probably do “know that already”, and 99.9% of that topic may not apply to you, and that’s OK. You’re looking for that 0.01% that will give you the winning edge. So stay focused, be present, and keep digging for that nugget of gold.

And the next time you hear the little voice in your head saying “I know”, just remember Larry Bird, one of the greatest shooters in NBA history: after missing a critical free throw in a playoff game, Larry waited until everyone had left, then he went back on the court with his shooting coach and practiced 1000 free throws so he could get even better. If Larry Bird could strive to be even better at shooting a basketball, you can strive to improve your skills too.

May you dream bigger, reach higher, and achieve more,

Coach Alay

Why You Should Be A Great Storyteller

“Storytelling at Fire”, Painting by David Sheldon

I still remember the first time I had the opportunity to be a part of a first rate sales team. I had no formal sales experience and was amazed at the level of polish and professionalism that the team demonstrated. To a person, they were well dressed, well groomed, and well spoken. They knew their industry backwards and forwards, inside and out. And as good as they were, the sales managers were even better! These managers were the elite: charismatic, seasoned, and above all inspirational. As a leader in my group, I wanted to inspire my team as these executives inspired me. So I tried. And I tried. But I couldn’t figure out what they were doing that was so different! Then, after months of observation, it finally hit me: they told stories.

In fact, almost all they did was tell stories. Stories about recent successes, stories about lessons learned, customer stories, funny stories, touching stories. They told lots of stories…and most of them were told with a purpose. So I began to use storytelling with my team.  I learned, practiced, and prepared (The Springboard and The Leader’s Guide to Storytelling, both by Denning, and The Story Factor by Simmons are three solid books on storytelling for business). I built my stories. And as I told them, I noticed a level of attention, engagement, and understanding from my team that I had seldom achieved before.

Now take a few minutes, and think back on all the people you have worked with. Remember how your most inspiring colleagues communicated? I bet they told a story or two. Now, imagine how skilled storytelling could help you communicate, persuade, and inspire.

May you Dream Bigger, Reach Higher, and Achieve More!

-Business Coach Alay

Your Team Culture: Asset or Liability?

“Our people are our most valuable asset”. We’ve heard this from companies many times, and we know it’s true. That’s why it’s surprising that many companies fail to actively harness and develop their team’s culture and performance.

What is your company’s culture?

As a business owner, you understand the link between team culture and performance. Winning companies have a winning culture, pure and simple. An actively managed team culture propels the company forward, builds talent, builds your brand, and opens up strategic opportunities.

The key phrase is “actively managed”. Your team has a culture. The question: is it the culture you want? Answer these Yes/No questions to find out:

1. We are unable to find people with “the right stuff”.

2. Our strategic options are limited.

3.  We have a “bench strength” problem. Our next generation of leaders is not up to the task (or we don’t have enough of them).

If your answer to any of these questions is a “Yes”, take some time to think about the company culture you want, and what actions your firm is taking to build that culture. You may want to conduct the following exercise at your next staff meeting: have each member of your team write down their description of the company’s culture  on their own. Compare notes amongst the group and discuss how it’s driving the firm’s success, and what the company is doing to building a winning culture.

Dream bigger, reach higher, and achieve more!

-Coach Alay

5 Tips on Choosing Effective Sales Training

Done right, sales training can drive growth of over 30% in just 6-12 months. Yet time and time again, the benefits are temporary, the enthusiasm is transient, and in three months time it’s back to business as usual.

It doesn’t have to be this way.

Here are five critical elements that winning sales training programs share:

1. Training is conducted in person, with the sales team together. Here is the secret sales trainers don’t want you to know: the true magic of sales training is when the sales team learns from each other. This peer-to-peer best practice discussion is more effective, applicable, and likely to last.

2. Agenda is short on lecture and high on participation. Sitting in a classroom is tough enough on your sales team. To keep them engaged, make sure the curriculum is 75% discussion and 25% lecture.

3. Program addresses both the art and science of selling. Sales training tends to focus on either the art of selling or product-specific technical training. Which is better? As you can imagine, you need both.

4. Program is customized to the company, and to the individual salesperson. Effective sales training is specific to unique challenges of the company and the individual participants. A strong program is customized to each participant with assessments. In addition, the group discussions provide relevance that’s specific to your company.

5. Training drives accountability and effort over time. Effective training programs change the behavior of the participants. Changing behavior requires sustained effort over a period of time. Sustained effort requires accountability. That’s why each of my sales trainings are not complete until each participant has created their own 13 week action plan. And then we ensure that a follow up mechanism exists. And yes, those who complete their action plans receive an award.

Are you ready to grow your business? If so, consider investing in your sales team. Choose the right program and your results will be immediate, leveraged, and sustained.

May you dream bigger, reach higher, and achieve more.
Alay Yajnik (@AlayYajnik)
Alay’s passion is working with business owners to grow their businesses and reclaim their time. Visit Alay’s website for more business ideas: www.alayyajnik.com.

Find Your Inner Start Up

The Lean Start Up by Eric Reis ignited a revolution in product launch thinking. What started as a software-specific model for rapid iteration based on fast failure and live experimentation has spread beyond software to virtually every technology, no matter how risk averse. In medical devices, for example, Lean Start Up concepts are being applied to de-risk the Go To Market process for these products. Although the core technology is validated through traditional large scale clinical trials, support processes such as Supply Chain, Service, and Sales Operations are using Lean Start Up principles to minimize wasted time and capital.

The Lean Start Up principles of deploying a minimum viable product for learning, creating experiments to validate assumptions, and iterating rapidly are useful in a variety of situations including intra-company efforts at large companies as well as software start ups.

The Build-Measure-Learn Model

Take some time this week to think about how you can apply Lean Start Up principles to your business. If you’d like more information, visit www.theleanstartup.com or drop me a line.

May you dream bigger, reach higher, and achieve more.

Alay Yajnik (@AlayYajnik)

Alay Yajnik’s passion is working with business owners to grow their businesses and reclaim their time. Visit Alay’s website for more business ideas: http://www.alayyajnik.com.

How to Find the Time for Ongoing Education

News Flash: the ONLY way to be successful in your field is by constantly learning and improving.

The challenge is finding the time to do it. Today I’ll share a technique that will give you 1-2 hours per day to do exactly this. Are you ready?

According to the 2007 Harvard Health Watch, Americans on average spent 101 minutes per day driving. Here’s the question: How do you spend your time in the car?

If your answer is “I listen to music”…well, you’re like most people. So become exceptional!

If your answer is “I don’t listen to anything. I drive in absolute silence”…congratulations as well! This is a powerful technique for focusing your mind on the next task. Interspersing periods of silence with audio enrichment is a powerful combination.If your answer is “I listen to audiobooks, podcasts, and audible versions of my chosen magazines”…congratulations! You have a winning edge (but you already knew that). In one year, you will have listened to over 600 hours of pure enrichment.

Safe and enriching travels on the road ahead!

May you dream bigger, reach higher, and achieve more.

Alay

Your questions and comments are always welcome: ayajnik@focalpointcoaching.com

Coach Alay’s passion is working with business owners to grow their businesses and reclaim their time. Visit Coach Alay’s website for more business ideas: http://www.alayyajnik.com.

“Customer Satisfaction is Worthless…

…Customer Loyalty is Priceless”. That’s one of my favorite quotes by Jeffrey Gitomer.

When I ask business owners what sets them apart from their competition, many of them immediately say “we have great service”. “Really?” I reply, “that’s great to hear. How is your service different, exactly?”

The thing is, most businesses that deliver poor service last about three months. Oftentimes, business owners underestimate the quality of service provided by their competitors while overestimating the impact of their own service on their customer base. They think they’re delivering great service (and they probably are), but is the experience powerful enough to retain customers in the face of temptation?

Deliver a powerful customer experience, and you will be unstoppable

Today it’s easier than ever to get feedback on your performance. Check your online reviews and conduct surveys. Talk to your customers regularly. And when you’re ready, use service as a strategic weapon by designing and executing your customer experience. Do it right, and you will be unstoppable.

May you dream bigger, reach higher, and achieve more.

Alay

Your questions and comments are always welcome: ayajnik@focalpointcoaching.com

Coach Alay’s passion is working with business owners to grow their businesses and reclaim their quality of life. Visit Coach Alay’s website for more business ideas: http://www.alayyajnik.com.

Communication is Everything

This is the tagline of my coach (yes, I have a coach too), and it’s very true. The study of human behavior and communication can be traced back thousands of years and continues to this day (teenagers continue to mystify researchers). The models have changed over the years, but in general they are consistent in a few respects:

1. People communicate in four distinct styles
2. Although people use all four styles, most people have a dominant communication style that they use most of the time
3. The easiest way to build rapport and trust is to communicate with someone using their preferred style

It

Ever wonder why you just can’t “get through” to some people?

follows then that people build rapport quickly with those who prefer the same style (about 25%). Imagine if you could adapt your communication style to the preference of the person you are meeting, you could increase your ability to connect to higher than 75%!

I use the DISC behavior model to train my clients and their teams on recognizing these styles and adapting their communication accordingly. Utilizing a model such as DISC in your firm can help you increase sales, improve customer service, and build stronger teams. Whether you choose DISC or another tool, consider investing in your team’s communication skills. After all, business is personal.

May you dream bigger, reach higher, and achieve more.

Alay

Your questions and comments are always welcome: ayajnik@focalpointcoaching.com

Alay’s passion is working with business owners to grow their businesses and reclaim their time. Visit Coach Alay’s website for more business ideas: www.alayyajnik.com.

Get Ready, Get Set, GO-al: Do you have winning goals for 2014?

January is in the history books, and we are almost halfway through Q1. By now you have your 2014 goals and you’re feeling great about the year (if not, stop reading this and do nothing else until you write your goals!). As a savvy business owner, you know that a powerful goal gives you the winning edge by focusing your team’s attention, energy, and time. Unfortunately, many goals are low quality and lack power (i.e. lame). For example, a business may set a goal “to increase sales”. To ensure your goals will carry you and your team through 2014, check that they’re in the “SMART” format:

Specific: as clear as possible

Measurable: you have the systems in place to measure progress and achievement

Actionable: your team can act on the goal

Resourced: you have the needed resources to achieve the goal

Time-bound: the goal has a deadline

Here’s how we might SMARTen up the goal to increase sales: “We will increase our sales in 2014 by 65% over 2013.” This is now a goal that you use to plan, measure, forecast, and communicate to your team.

My very best to you and your business for 2014…may you dream bigger, reach higher, and achieve more!

Coach Alay

I invite you to e-mail your questions and comments to ayajnik@focalpointcoaching.com

Alay Yajnik is a certified business coach. Coach Alay’s passion is working with Tri-Valley business owners to grow their businesses and reclaim their time. Visit Coach Alay’s website for more business ideas: www.alayyajnik.com

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