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Entries by Mike Figliuolo

Differentiate Your Business Through User Experience Research

July 10, 2017 /0 Comments/in Books, Business Toolkit, Communications, Guest Blogger, Innovation, Leadership /by Mike Figliuolo

While quantitative analysis is great, don’t dismiss the value of qualitative research and how it can help you understand your customers and differentiate your business. Today’s post is by Julie Lellis and Melissa Eggleston, authors of The Zombie Business Cure (CLICK HERE to get your copy). What do successful companies like Charles Schwab, MailChimp and Indiegogo have in common? They put significant time and money toward crafting the experiences both potential and current customers have. This level of commitment helps these companies stand out among peers and builds loyal customers. How do you start doing the same? You start by doing user experience (UX) research to understand the experience people are currently having with your business. “Qualitative research doesn’t get enough credit,” said Aga Bojko, the director of UX for Indiegogo, the popular global crowdfunding platform. “I love quantitative research too, but dismissing qualitative work as ‘unscientific’ is naïve. For example, an ethnographic study with just a few participants can provide the depth and richness of information you’d never be able to achieve with a high sample size survey.” The author of a highly regarded book on eye tracking with more than 15 years of industry experience, Bojko joined Indiegogo a little more than two years ago in part because she was attracted by the core values it espouses: “fearlessness,” “authenticity,” “cooperation,” and “empowerment.” In the San Francisco-based company of approximately 130 employees, Bojko works on a team of 13 UX professionals, four of whom focus solely on research. All researchers work very closely with Indiegogo’s designers, product managers, and marketing specialists. In fact, in an effort to optimize communication with the customers, earlier this year the marketing team asked Bojko and her team to revisit the company’s personas. Indiegogo must attract and satisfy two primary target audiences:

How do you deal with making difficult decisions?

July 6, 2017 /0 Comments/in Communications, Leadership, Poll /by Mike Figliuolo

Our reader poll today asks: How do you deal with making difficult decisions? – I make them immediately the best I can: 46% – I delay and hope they go away or get easier: 12% – I push the decision off to someone else: 1% – I have my team make the decision with me: 30% – I deal with them some other way: 11% Make the call quickly. Difficult decisions can turn into big problems if you delay making the call. Whether you go it alone or involve your team, moving a decision ever-forward even if you don’t make the choice in that moment is a no regrets move. Many times those big decisions stall because the case you’re trying to make for change isn’t compelling enough. You know what the decision is but can’t get others bought into it. If that’s the case, taking a different approach to making your recommendation is in order. Make sure you link your decision to a clear “what’s in it for you” for your ultimate decision maker. Many times that linkage is what can push the decision forward. Do you agree with these poll results? Let us know in the comments below! – Mike Figliuolo at thoughtLEADERS, LLC Did you enjoy this post? If so, I highly encourage you to take about 30 seconds to become a regular subscriber to this blog. It’s free, fun, practical, and only a few emails a week (I promise!). SIGN UP HERE to get the thoughtLEADERS blog conveniently delivered right to your inbox!

The Easy Way to Write a Great Business Case

July 5, 2017 /1 Comment/in Business Toolkit, Communications, Leadership, Project Management /by Mike Figliuolo

Business cases are the key to getting ideas approved and funded. If you follow a few basic principles, you’ll find the cases you make get approved more quickly and easily. If you want to get people’s attention with your business case, you need to solve a big problem. The problem definition section outlines the core business problem or opportunity that your project will directly address. Provide a summary of the core problem, including a description of the pain point and what’s causing it, also include the impact that this problem has on the organization. Defining the Problem A well-written problem statement gets your reader to say, wow, that’s a big problem and we need to solve that. It’s what motivates action and will lead to approval of your idea. Write in plain language. Remember, people from all different functions across the organization will be involved in the approval process. You need to make it easy for them to understand what the problem is. Let’s look at some example problem statements. My first example is about training. Problem: Our associates have skill deficits in their ability to write a business case, communicate clearly and effectively, and make decisions quickly. The negative impacts of these skill gaps are that business cases often need to be rewritten, which delays project implementation and time to value. Also, our associates are spread out all over the country. The travel cost of sending someone to a training session is $1,000 per person. My second problem statement example is about a company’s website: Problem: The company website was built in 2004. It’s on an outdated content management system platform that lacks basic search engine optimization functionality. Creating pages and blog posts on it takes substantial amounts of time. This means our site is not ranking well in […]

Data Analytics Requires Leadership by Mind and Machine

July 3, 2017 /0 Comments/in Books, Business Toolkit, Guest Blogger, Innovation, Leadership /by Mike Figliuolo

Data analytics is no longer the preserve of innovative tech companies or large multinationals; it is becoming a tool that could play an essential part in every organization. However, this powerful medium, which can offer great insights and guide business decisions, requires some thought and attention. Today’s post is by Marc Vollenweider, author of MIND+MACHINE (CLICK HERE to get your copy). In order to successfully implement a data analytics function, you need to combine the benefits of machines with human ingenuity and skill. Mind-only analytics, where humans do all of the work, is recognized as being too slow and costly. On the other hand, machine-only analytics rarely delivers the insights needed. Goals are achieved only when mind+machine come together with structure and purpose to solve a problem. And therein lies the challenge! While everyone is talking about artificial intelligence, implementing data analytics in your business is slightly more complex than installing a new coffee machine; it requires a harmonious interaction of humans and machines. As a leader, it is your responsibility to create the necessary culture and environment before you can expect your data scientists to churn out value-adding use cases on a regular basis. For those who are not familiar with the term, here is a quick definition: A use case is the end-to-end analytics support solution applied once or repeatedly to a single business issue faced by an end user or homogeneous group of end users who need to make decisions, take actions, or deliver a product or service on time based on the insights delivered. Use cases can be very simple or incredibly complex. I have seen a use case that was based on a mere 800 bits and others, in the realm of Big Data that need hundreds of gigabytes worth of data. An example of […]

Have you ever taken a huge risk that didn’t work out?

June 29, 2017 /0 Comments/in Entrepreneur, Leadership, Poll /by Mike Figliuolo

Our reader poll today asks: Have you ever taken a huge risk that didn’t work out? – Yes, I’ve made a huge bet and it was a big disaster: 70% – No, whenever I’ve taken such risks, they’ve always worked out: 17% – No, I’ve never made a big bet: 13% Can you handle the fallout? A very large proportion of you have taken a large and disastrous risk. The issue isn’t the risk itself, but the consequences. If things ended up being disastrous, was it because you weren’t prepared for the fallout from the decision? Before embarking on a major risky venture, spend time constructing the truly worst-case scenario. Too many times I see people construct “worst” scenarios that are only minor setbacks. You have to plan for everything going wrong. Assess that perfect storm of bad outcomes and assume everything goes wrong. Ask yourself if you can handle the negative outcome of that perfect storm. If the answer is “no,” then reconsider taking the risk in the first place. Do you agree with these poll results? Let us know in the comments below! – Mike Figliuolo at thoughtLEADERS, LLC Did you enjoy this post? If so, I highly encourage you to take about 30 seconds to become a regular subscriber to this blog. It’s free, fun, practical, and only a few emails a week (I promise!). SIGN UP HERE to get the thoughtLEADERS blog conveniently delivered right to your inbox!

The Power and Danger of Overallocating Goals

June 28, 2017 /0 Comments/in Business Toolkit, Entrepreneur, Leadership, Sales, Strategy /by Mike Figliuolo

Goal setting can be tricky business. By overallocating goals from top to bottom, you can improve the odds of hitting your top level goal; but be careful you don’t put too much pressure on your team members. Goals shouldn’t just tie from your strategy down to the individual goals. When you add your goals up, they also need to align from corporate goals down to individual goals. Ensure everyone’s work is headed in the same direction and people know how they fit in and how their work contributes to the broader goals you’re trying to achieve. The way you do this is you work from the company vision down to divisions, then down to teams below that, all the way down to individual goals. Goals should cascade from the highest levels down, and when you add them all up, hopefully it’s more than you’re trying to achieve at the top level. Why? Well, you want to make sure that you hit your big corporate or division goal. By overallocating that goal across the organization, you’re going to increase the chances that you hit the big goal. Here’s what overallocating a goal looks like:

When Going Global, Customize Your Management Strategy

June 26, 2017 /0 Comments/in Books, Business Toolkit, Communications, Entrepreneur, Guest Blogger, Sales /by Mike Figliuolo

When dealing with global business partners and operating in foreign lands, you don’t have to rely on country generalizations. Analyze your unique contacts for maximum effectiveness. Today’s post is by Dierdre Mendez, author of The Culture Solution (CLICK HERE to get your copy). For stressed managers dealing with international employees and partners, a profile describing the country they’re dealing may seem like a natural thing to reach for. Brazil has a score of 34 for punctuality, Finns value quiet, serious conversation, good things to know. But think about the U.S. There are cultural differences from north to south, between rural areas and big cities, and across generations. The same is true anywhere in the world. Your contact might be a talkative Finn or a punctual Brazilian—the opposite of what their country profiles predict. Fortunately, there’s a solution. Each person you deal with offers signs of their cultural orientation—through the way they greet others, express disagreement, present information, solve problems, and organize tasks. Learning to read these signals will give you accurate information about each individual contact, whether or not they fit a country profile. In my new book The Culture Solution, I provide tips on recognizing eight cultural dimensions likely to cause confusion and frustration and developing strategies for managing problems and communicating effectively. The following tips will get you on your way. Analyze Your International Contacts Check for what seems different or surprising. Suppose you vising a new partner for the first time and you notice that your contacts there line up in order of rank to receive you. They have a set seating order, again according to rank. They are formal in the way they dress and sit, and use titles plus last names, like” Director X.” There’s an organization chart on the wall, and all the managers […]

Do you prefer to be in the spotlight or to work in the background?

June 22, 2017 /0 Comments/in Entrepreneur, Leadership, Poll /by Mike Figliuolo

Our reader poll today asks: Do you prefer to be in the spotlight or to work in the background? – I love the spotlight and getting attention for my work: 23% – I prefer to do my work in the background and stay out of the limelight: 77% Out of sight… Clearly the majority of you prefer to do your great work in the background and stay out of the limelight. There are risks that come with that approach. It’s possible your great work might not get recognized or, even worse, could be attributed to one of your more visible colleagues. Be sure you get the visibility you deserve for your great work. For those who prefer the limelight, the risk you face is being perceived as arrogant or self-important. Be sure you bring others up with you when you’re recognized for great work because it’s rare that you ever accomplish anything alone. Do you agree with these poll results? Let us know in the comments below! – Mike Figliuolo at thoughtLEADERS, LLC Did you enjoy this post? If so, I highly encourage you to take about 30 seconds to become a regular subscriber to this blog. It’s free, fun, practical, and only a few emails a week (I promise!). SIGN UP HERE to get the thoughtLEADERS blog conveniently delivered right to your inbox!

Become a Better Salesperson or Business Development Executive in Mere Minutes

June 21, 2017 /0 Comments/in Books, Communications, Leadership, Sales /by Mike Figliuolo

We’re starting a new podcast series specifically for sales and business development managers. Episodes will feature either interviews with leading experts, consultants, and bestselling authors in sales, or a discussion of the result of our research into the art and science of storytelling in sales. Today’s post is by Paul Smith, thoughtLEADERS principal and bestselling author of Lead With a Story and Sell With a Story. Here’s an easy way to learn some new selling skills – in easy-to-digest podcasts you can listen to at your convenience. These podcasts are based on interviews with professional salespeople at over 50 organizations, as well as professional buyers. Who better to tell us which sales stories work and which don’t than the professional procurement managers who spend each day listening to dozens of salespeople tell their stories and deciding which ones to award business to and which ones to send away empty handed? The first six episodes include an introduction to the concept of sales stories and how to distinguish them from a sales pitch, the top 10 reasons why storytelling works so well in sales, the 25 most useful sales stories, as well as discussions with two bestselling authors and sales experts. Sit back. Listen. Learn. And sell more. Pig Island: An Accidental Sales Story An introduction to the concept of a sales story, not your average sales pitch. Sales Guru and Bestselling Author Anthony Iannarino on His First Lessons on Selling

Easy Steps Toward Becoming a Magnetic Leader

June 19, 2017 /0 Comments/in Books, Communications, Guest Blogger, Leadership /by Mike Figliuolo

Magnetic leaders have a line of people waiting to work for them. What sets these leaders apart? Authenticity, vision, and resilience are three good first steps. Today’s post is by Roberta Matuson, author of The Magnetic Leader (CLICK HERE to get your copy). Lots of people believe it takes years for someone to become a magnetic leader. Lucky for you, I’m not one of these people. Magnetic leaders are ones who have a line of people outside their door, waiting to come work for them. That line moves slowly, as positions rarely become available. There are seven traits of irresistible leaders. Here are three and how you can earn magnetic status almost instantaneously. Authenticity Magnetic leaders don’t try to be someone else, nor do they change who they are based on office politics. They are true to themselves and are honest in their dealings with others. They are not afraid to share their mistakes or shortcomings. Warren Buffet is an authentic leader who speaks openly about his $200 billion mistake buying Berkshire Hathaway. I want you to think about how authentic you really are today. Here’s what I mean by this. Do you tell staff members you have a doctor’s appointment, when you’re really leaving work early to see your daughter’s school play? Are you being completely truthful when giving performance reviews or are you holding back because you don’t want to hurt other people’s feelings? Are you speaking up in meetings and saying what’s really on your mind or are you going along with what the boss has suggested because you’d like to remain in his favor? A yes to any of these questions is a clear indication that you can improve your authenticity. As you can see, making some shifts in this area won’t require much in the […]

How trusting are you when you work with someone new?

June 15, 2017 /0 Comments/in Communications, Leadership, Poll /by Mike Figliuolo

Our reader poll today asks: How trusting are you when you work with someone new? – I trust them completely until they demonstrate I shouldn’t: 17% – I’m generally trusting but proceed with some caution: 65% – I need people to earn my trust over time: 10% – I don’t trust people at first but warm up once they prove themselves: 7% – I don’t trust people at all. Ever: 1% Trust is given then lost. Eighty-two percent of you say you’re willing to trust people right off the bat, albeit with some caution. The bigger the issue you’re trusting someone on, the larger the risk you’re taking in extending trust. That said, trust builds efficiencies, collaboration and a less stressful environment. If you do want to proceed with caution, think through the unknown variables that cause you to withhold trust then figure out how you can get certainty around those variables. Be pointed in your diligence. That will enable you to extend full trust on smaller issues while protecting yourself at the same time from major adverse events. Do you agree with these poll results? Let us know in the comments below! – Mike Figliuolo at thoughtLEADERS, LLC Did you enjoy this post? If so, I highly encourage you to take about 30 seconds to become a regular subscriber to this blog. It’s free, fun, practical, and only a few emails a week (I promise!). SIGN UP HERE to get the thoughtLEADERS blog conveniently delivered right to your inbox!

Define Your Question Before You Solve the Problem

June 14, 2017 /1 Comment/in Books, Communications, Leadership /by Mike Figliuolo

To effectively solve problems, you must first understand the question being asked and why it’s important to your stakeholder. Without clarity on why your stakeholder cares, the recommendation you generate might be useless. The following is an excerpt from my latest book The Elegant Pitch: Create a Compelling Recommendation, Build Broad Support, and Get it Approved (CLICK HERE to get your copy). The book spells out a straightforward process you can immediately use to get your ideas approved. The first step for generating a clear and compelling recommendation by using the Structured Thought Process is defining the question. All too often when stakeholders ask for a recommendation, we rush off to conduct analysis and bring back an idea as quickly as possible. That approach can cause massive problems because we never stop to get clarity on what the real issue is. Teams often assume everyone knows what the question is and therefore don’t take the time to document the issue. Even if they do document the issue, they don’t go the extra step of explaining why it’s important to the stakeholder to solve the issue. Without clarity and agreement on the “what” and the “why” of the issue, the likelihood of generating a recommendation that will meet the stakeholder’s needs is low. To demonstrate the importance of defining and documenting the question, let’s walk through an example. Imagine I’m your stakeholder and I ask you for a recommendation. I ask “Can you get me your best idea for how we can generate an incremental $1MM in profits? Thanks!” I then leave the room. For this exercise, write down the first three ideas that come to mind for how you can solve my problem. Go ahead – write them down so we can refer back to them. Finished? Okay, let’s look […]