Poll – thoughtLEADERS, LLC: Leadership Training for the Real World

How willing is your organization to walk away from low-margin business?

November 26, 2020/0 Comments/in Balanced Lifestyle, Business Toolkit, Communications, Leadership, Poll /by Ryan Shaw

Our reader poll today asks: How willing is your organization to walk away from low-margin business?

Very — we do it all the time: 29.06%
Somewhat — it has to be really low margin before we consider walking: 41.89%
Rarely — we only walk away in extreme situations: 21.13%
Never — if they’re buying, we’re selling! 7.92%

Is the work worth it? There’s no shortage of “opportunities” to do work at low margins. Unfortunately all too many of you take on work that’s likely not worth it. Even if something is marginal in terms of value, you’re likely losing money on it. The hidden costs of administration, contracting, selling and servicing are rarely factored into the value you’re delivering and how much you’re getting paid for it. Add to that the opportunity cost of not being able to pursue higher-margin work, and you’re definitely in a negative situation.

Sure, there are times to take on low-margin work, like a pilot or trying to land a new customer, but those should be strategic exceptions. If you’re finding a lot of low-margin work on your plate, take the time to do the analysis of the true cost of delivering that work and add to that the opportunity cost of lost higher-margin work. That might help you make a compelling case for walking away from that low-margin project (or at least help you to price it more appropriately).

Do you agree with these poll results? Let us know in the comments below!

– Mike Figliuolo at thoughtLEADERS, LLC

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How willing are you to ask for help when you need it?

November 19, 2020/1 Comment/in Balanced Lifestyle, Communications, Leadership, Poll /by Ryan Shaw

Our reader poll today asks: How willing are you to ask for help when you need it?

Extremely: I ask for help all the time without hesitation: 15.21%
Very: I’ll ask for help when the need gets pressing: 35.71%
Somewhat: I have a hard time with it unless the situation is extreme: 35.87%
Not very: It’s pretty rare that I ask no matter how much I need it: 10.74%
Not at all: I always go it alone even though I know I should ask: 2.47%

Ask for help when needed. You’re not alone. While 50% of you seem to freely ask for help as needed, the other half of you struggle with doing so. Ask yourself why. Is it a pride thing? Or is it that you don’t want to inconvenience others? Maybe you believe it’s a display of weakness? Whatever the reason, get to the root of it and ask if that perception is true as well as if it’s outweighed by the benefits of asking for help. If you’re overwhelmed, stressed out, and not getting your work done or delivering on commitments, perhaps it’s time to swallow your pride or get over your hang-ups. You’d be surprised by how many people are more than willing to help a friend or colleague. Think about how you handle such requests. Give people the benefit of the doubt and create the opportunity for them to be helpful. You’ll likely be pleasantly surprised with the result.

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!

How well do you practice self-care during stressful times?

November 5, 2020/0 Comments/in Communications, Leadership, Poll, Strategy /by Ryan Shaw

Our reader poll today asks: How well do you practice self-care during stressful times?

Extremely: It’s a top focus, especially during stress. 8.01%
Very: I give it a lot of attention during stress. 23.15%
Somewhat: I could definitely do a better job of it. 45.42%
Not very: I only practice it occasionally during stress. 17.42%
Not at all: I never practice self-care during stress. 6%

The most important kind of care. If you don’t care for yourself, it’s extremely hard to effectively care for others. Almost 70% of you report you need to do a better job of it. What’s stopping you? Get some rest. Eat well. Exercise. Put these things on your calendar. In stressful and change-filled times, everyone gets a little crazy — it’s up to you to step outside of that race, catch your breath, and make sure you’re okay. Pick a regular practice and build it into your routine for a month. In doing so, you’ll be well on your way toward building a habit of self-care. The longer you do it, the harder that good habit is to break.

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!

How well does your organization stand behind its product or service?

October 29, 2020/0 Comments/in Communications, Leadership, Poll, Strategy /by Ryan Shaw

Our reader poll today asks: How well does your organization stand behind its product or service?

Extremely well: We ensure 100% customer satisfaction. 47%
Very well: We stand behind our work the vast majority of the time. 35%
Well: We generally stand by our work but occasionally miss. 11%
Not well: We regularly miss customer expectations and standards. 6%
Not at all: We don’t back up anything we do. 2%

Backing your product matters. 82% of you make pretty strong commitments to backing your product or service. For the 18% of you not in that group, recognize it may not affect that customer sale or relationship today, but it’s costing you dearly tomorrow. It’s far too easy these days to build a bad reputation for your business, given online reviews and the speed of information sharing. Many times, the commitment you need to make isn’t big relative to the cost of lost opportunities.

The next time a customer or client has an issue with your product or service, try resolving it on the first interaction. Go above and beyond what they might expect. You will see the immediate benefit of a happy customer and, more importantly, you’ll see future sales come through due to your enhanced reputation and referrals to your business. Don’t all into the trap of winning an argument today that will cost you dearly tomorrow.

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!

How much of a difference do you see between the roles of being a manager and being a director?

October 22, 2020/2 Comments/in Communications, Leadership, Poll, Strategy, Training /by Ryan Shaw

Our reader poll today asks: How much of a difference do you see between the roles of being a manager and being a director?

There’s a world of difference. They’re completely separate types of roles. 48.84%
There’s some difference between them, but not a lot. 36.45%
Pretty much no difference — a director is a glorified manager. 14.71%

The role is what you make it. If you’re not seeing a big difference between managers and directors, someone is falling short of making that director role everything it could be. Moving to director is where you make the shift to getting things done through others. The other big shift is moving from having the right answers to asking the right questions. Directors need to see beyond the horizon and ask about the things no one (including themselves) is thinking about yet. Pushing the thinking beyond today’s pressing needs is how new opportunities and threats are identified.

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!

When you’re angry with a team member, how do you approach it?

October 8, 2020/0 Comments/in Communications, Leadership, Poll, Strategy, Training /by Ryan Shaw

Our reader poll today asks: When you’re angry with a team member, how do you approach it?

I cool off and don’t show any emotion when I speak with them. 45%
I wait a bit to talk to them but show them some of my anger. 51%
I pause first but let them see a lot of my anger. 3%
I unload my anger toward them immediately so they can see it. 1%

Pause and compose. The vast majority of you (96%) pause for some period of time before confronting a colleague who has made you mad. Cooler heads can have more rational discussions. The groups seems evenly split, though, on whether to show some of the anger when the conversation does happen. The pro of showing that anger is the person really gets a sense for how much they’ve upset you, but the con is it could inflame the situation. Conversely, not showing your anger and simply expressing concerns could cause them to misread how much their actions upset you, which might lead to repeat behavior. In any case, deliberately choose which approach you’ll take (whether or not to show some anger) and have a deliberate reason for doing so. Also, have a contingent strategy if your choice goes wrong. If you’re showing anger and it makes things worse, hit pause and cool off. If they seem to be ignoring your concern, perhaps let some of the anger show.

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!