Month: September 2014

It’s 6:45 a.m., and I’m making an “OJ-like-dash” to catch my United Airlines flight from the Ft. Lauderdale airport. I guess some readers are too young to remember the OJ Simpson commercials in which he runs through the airport, and perhaps given his legal woes, this is probably not the best example. With this said, I think you get the picture of my sprinting to make my flight.

It seems like the flights are always on time when I’m behind schedule.

The long line at Dunkin’ Donuts

Despite my tardiness, I stopped to take a picture of the long line that formed for the Dunkin’ ‘Donuts shop (see actual pic). Why were travelers willing to wait so long for a donut? There were many other shops where breakfast could be fetched.

In fact, there was a self-service line for just Dunkin’ Donuts coffee, and only a few people selected this option. Therefore, the people were in line, not for coffee, but for the bakery delights or breakfast sandwiches offered in the full service shop. Wow!

What can we learn?

From my trips to Boston, I know that Dunkin’ Donuts is well-known. It largely has a monopoly in the Northeast USA. But, I’m not in the Northeast. Ft. Lauderdale is as far Southeast as you can get.

Were these people from Boston or Bangor who were looking for something that reminded them of home? What makes Dunkin’ Donuts this good? Why are 30+ people willing to wait in line to make their purchase? Don’t they have an imminent flight to catch?

From a business standpoint, here are some points:

• Dunkin’ Donuts has established a reputation for tasty food, and people are willing to wait 15 or 20 minutes to get it. It’s obvious that the donut shop has developed its brand.
• I visited the company’s website, and it makes you hungry just looking at it. Even though the breakfast sandwiches have a high calorie count, I could be convinced to take a few bites. I also like the mobile phone app, which makes it easy to pay while on the run, such as the airport. Heck, at least the paying process is quick after having to wait so long in line, right?

When I arrived at my gate, which was about 30 feet from the Dunkin’ Donut shop, the United ticket counter agent made an announcement that a flight attendant was running late, and no one could board until she arrived. I thought about going back to Dunkin’ Donuts and waiting it out with everyone else, but I decided against it after a softball team jumped in line.

The key takeaway here is to learn how to create the strong customer demand of Dunkin’ Donut. How can you get customers to value your products and services this much? I’m sure that marketing and reputation are important, but so is providing the customer with value. Dunkin’ Donuts has figured out the recipe to excellent customer service.

Think about it … the leadership team has determined how to make one donut look and taste better than donuts offered by competitors. That’s pretty cool!

My family and I recently made it to our first Disney Cruise. The Western Caribbean journey began at Port Canaveral, FL, and the ports-of-call included the Grand Cayman, Costa Maya, Cozumel, and Castaway Cay. This trip was planned several months in advance, and we were excited to try something new.

Past Cruises

Many years ago, I sailed on Carnival and Royal Caribbean. On Royal Caribbean, the trip began in Vancouver, Canada and continued to Seward, Alaska. The ports were terrific, but the cruise was in mid-October, which meant that the Alaskan weather was a bit chilly.

For the most part, people go on cruises to get away from day-to-day responsibilities. When on the ship, you can expect to be pampered. There is so much food that it’s easy to put on the pounds. The goal of any cruise company is to sail 100% full because many of the charges come from liquor, merchandise, and excursions.

Some people are surprised that gratuities are charged on a per-person basis. For example, on a 7-day cruise, each person (including children) will likely pay about $77 (about $11 per day) for gratuities, which are distributed among the cabin stewards, dining room waiters, assistant waiters, and headwaiters. As I noted here, this is not optional. If you have a family of four, expect to pay about $308.

The Disney Cruise

Our ship was the Disney Fantasy, which is the newest and most modern. This huge vessel has a capacity for about 4,000 passengers and 1,500 crewmembers. While this sounds like a ton of people, it really didn’t seem too crowded, except during the day in the family swimming pools.

My family and I decided to take advantage of the unbelievable food offered on the cruise. Each evening, for example, we went to the selected dining room, such as the Animators Palate, Enchanted Garden, or Royal Court. Upon arrival, the waiters greeted us. We were assigned to one of the three dining rooms, and the waiters traveled with us. It was cool that they knew us and remembered our preferences. For example, I like to drink Diet Coke with my dinner, and black coffee with my dessert. Since I’m not too much into sweets, my dessert is fresh fruit, and I only had to make this request on the first night.

By the way, on the 7-night cruise, there were three Broadway-style shows. The cast did an excellent job of making them fun, and everyone had a terrific time. I also liked that the presentations where generally about an hour, which meant we had time to enjoy other ship activities.

Takeaway

Disney Cruises will easily cost an extra 40% or more when compared to those offered by Carnival and Royal Caribbean. Is the extra money worth it? It depends. If you have kids, the investment makes a difference. You can leave the kids at the assigned clubs, and enjoy time for yourself. For $200, you can have a great massage, manicure, and pedicure. You can also bypass the spa treatment and head to the adult pool area.

The beauty of cruising is that you can decide how much to do. If you are looking for downtime, get a stateroom with a balcony, a glass of your favored wine, and enjoy the beautiful view of the ocean. You can’t go wrong!

This past weekend I was invited to a surprise birthday party for a friend who was turning the Big 5-0. The plan was to have the event at a mutual friend’s home, which would allow everyone to arrive and await Carlos and his wife to enter the home.

As it turns out, though, the plan fell through because the birthday boy arrived a few minutes before the scheduled start of 8 p.m., and several of the guests were a few minutes late. Suffice it to say that the meaning of surprise took on several meanings this evening.

The Place!

I was informed that the house we were going to visit was super-expensive. When I entered the home, I could hardly disagree. While not a custom home, one could tell the owners had made major investments in both the interior and exterior.

From the living room area, I could see the lavish swimming pool with the decorative waterfalls. At one side of the pool, a cabana was added (see picture). This was not a typical cabana that one might find at beach resort. This one was loaded with a gas grill, refrigerator, sink, and even a flat-screen television powered by DirecTV.

The owner, Mark, even purchased an acre behind his lot. Why? He is planning to convert that area into a private golf driving range. As I stood next to him, he explained how he plans to tee off from his back yard and the destination of the balls is the future driving range. Creative stuff!

The Pebbles in the Guest Bathroom

Mark’s hospitality was superb. He gave me more than 10 choices of drinks I could have, ranging from Sangria to vodka. He also recommended a 23-year-old rum from Guatemala. I decided to have this Central American liquor with Coke Zero. The rum was so smooth that I had to be careful not to overdrink. After one drink, I decided to take a little break, and asked where I could find the guest bathroom.

I was directed inside the spacious home, and told to make a left past the kitchen. Given the size of the house, I was surprised they hadn’t developed an app that could guide me in the right direction.

I found the guest bathroom, and took a quick glance at the sink (see picture). I noticed pebbles in the sink, and wondered what they signified. I was born in a small South Texas town, and the only pebbles I remember were near the Nueces River. All kidding aside, I did ponder their significance.

Do the pebbles signify that someone has wealth? Does it connote that these folks pay close attention to detail? Do they give the bathroom an artistic touch? Interestingly, I hesitated turning the water on to wash my hands. Was this appropriate on my part? Could I possibly discolor some of the pebbles?

The party was a hit! A little rain shower came through, but no one was discouraged. While I left early, I heard the partygoers remained until nearly 4 a.m.

When I awoke on Sunday, I wondered what happened to the pebbles? Were they removed and stored until the next party? I’m just not sure how that process works!

I was recently traveling to visit family for a few days. I was fortunate to receive an advanced First Class upgrade, and I selected Seat 2B. When possible, I like to sit on the side with two seats if traveling on a regional jet. This side of the aircraft usually has more room to store carry-on baggage underneath the seat. In addition, I can put any extra luggage in the overhead compartment directly above me. With today’s highly-functional airline websites, you can select seats quickly and without the assistance of an airline agent.

Boarding at 6:10 a.m.

When taking the early flight, I make it a habit to prepare my luggage the night before. In fact, I even have them waiting right by the back door. The routine is to awaken at 3:45 a.m., take a quick shower, dress in short order, and get on the road by 4:30 a.m. Given I’ve checked in online, I can arrive at the airport around 5 a.m., and clearing TSA security takes about 10 minutes this time of the morning. Given I have a little time before the flight begins to board, I visit the United Club where I grab today’s paper and a bowl of cereal. That’s it! I’m ready to fly.

On this particular flight, I went to the boarding gate at 5:40 a.m. and was the second to board the small jet. I like to be early because my bags usually travel with me. By avoid checking bags, I can step off the airplane and be on my way immediately, usually saving about 30 minutes. Perhaps more important, there is little chance that my bags will be lost.

Getting to Seat 2B

I found ample room to store my bags, given I was one of the early people to board. Right as I went to sit down, a gentleman started the following conversation:

PASSENGER: Sir, before you sit down … do you mind taking Seat 2A so that I can sit with me wife (see actual pic of man and his wife). It’s also a First Class seat.

[While it was still technically a First Class seat, it was not Seat 2B – the one that picked online.]

ME: Sir, I guess I can do that. I like Seat 2B because of the extra storage space.

PASSENGER: I really appreciate you making the change.

ME: Sure … no problem.

The fact is that I didn’t want to give up my seat. I like Seat 2B. I picked it. I had already stowed one bag underneath my seat, and the other right above me. This was my place!

I thought about how awkward it was going to be for me to sit in 2B and he in 2A for the 2-hour flight. In essence, I would be sitting next to his wife. Would I strike up a conversation with her? Would I tell her why I did not allow her husband to sit next to her? After running these questions through my mind, I’m glad I took the “nice route.”

As the flight was preparing to speed down the runway, I looked over to the couple, and noticed they were holding hands. I don’t think they were scared. It was more a feeling of love and affection for each other.

After seeing the hands joined and their eyes closed, I realized I did the right thing.

I received a call today about a colleague who lost his job working at a major oil and gas company. Interestingly, everyone knew him to be an excellent employee, and he often worked on global assignments. During the past couple of years he even earned an Executive MBA. Regardless, today, he is out of a job, and you can imagine the tension and anxiety he is experiencing. With a wife and two kids, the pressure is even more intense.

Many of us feel that if we are committed to our company, we should have “permanent” employment. Of course, you know that assumption to be false. The fact is that you are often one poor quarter away from hitting the pavement. In some cases, a change in supervisor may result in personality differences, and that might be enough to show you the door.

My recommendation is to plan today for the possibility that you might be given the pink slip.

What can you do?

First, develop key skills that put you in demand both in your current organization and with other employers. If your company offers training in areas such as Project Management, Six Sigma, CISSP, or whatever – sign up now! As a Project Management trainer, I am often surprised that many employees fail to take advantage of this great opportunity.

Second, start looking for other companies who might have an interest in what you bring to the table. We know that the best time to find a new job is when we currently have one. The fact that you are employed makes you even more desirable to other employers.

Third, get outside your comfort zone and earn money on your own. You can provide consulting services, teach a class at a community college, or offer a free seminar to your church. Do anything!

For those individuals with a Plan B, getting the boot is no big deal. In fact, it is bound to happen to anyone, nearly for any reason. I am sure that my colleague will soon land on his feet because he was proactive in building his skills while working for Company X. The transition will be tough, but his many years of global experience and Executive MBA will lead to opportunities in the near future.

When living in Houston, I was fortunate to work for Prudential where I sold both insurance and investment products. As part of the training, I learned the power of lead generation. That lesson has made a tremendous difference in increasing my annual earnings. The formula itself is easy, but sticking with the process is what separates those who excel from those who make excuses.

Preparing to Prospect

My work at Prudential began with a sales meeting at 7:30 a.m. After the meeting, I went to my office and organized my calls for the day. My dials were scheduled for one hour, beginning at jimmieflores@gmail.com 9 a.m. Of course, depending on your target audience, you can vary the time. However, making the calls in the morning ensures that you complete this work early, giving you time to make sales presentations during the rest of the day.

You must have a script when on the phone. The delivery should be natural, but you need to know the critical points to address during the call. You know that not everyone is going to be interested in what you sell, and that is fine. When you run into a person who is not interested, cannot afford it, or does not have time to meet with you, make sure that you ask that individual for leads. Here is one strategy that works: “Mike, I understand this product might not be right for you right now. As you know, life insurance is important for new families. Will you recommend three individuals like yourself who might have an interest?” Given that Mike is not going to buy, he will likely feel the need to help you find others who are interested. Don’t hang up the phone until you have these leads.

It’s About the Numbers

The formula for success in any sales venture is finding qualified leads. Your initial list should include approximately 100 people, including colleagues, friends, and family. The people you put on that list largely depend on what you are selling. In other words, stick with the target market.

Once you have the list in place, the goal is to make 36 phone calls per day. Here is how the 36:12:6:3:1 formula works:

You make 36 phones calls during a one-hour period
Of the 36 calls, you will reach 12 people
Of the 12 people who speak with you, 6 will meet with you
Of the 6 people you schedule for a sales meeting, 3 will meet, and 3 will cancel
Of the 3 people you meet, 1 will buy

By following this formula, you will make one sale per day. In the insurance business, that is good work. Of course, if you wish to make more sales, you need to make more calls. To make more calls to qualified prospects, it is imperative that you ask for referrals, even from those showing zero interest.

Develop the Habit

Once you make lead generation a habit, it will be part of how you do business. In fact, the confidence you will exude with your product or service will make others want to help you succeed. Remember that everyone is a customer, even when they do not buy from you. In short, expanding your business means working the sales model, which includes prospecting, interviewing, determining customer needs, presenting, negotiating, closing, and follow-up.

A friend recently invited me to a wedding between a couple who were both marrying for the second time. The Catholic ceremony was modest and attended mostly by those who knew the bride (Martha) and groom (Daniel) well. After the exchange of the vows, the couple organized an early dinner with drinks and music at a local Mexican restaurant specializing in seafood.

The Background

Martha is from Venezuela, but she has lived in the United States for more than a decade. Her mother re-married a Texan, and soon the entire family settled here in San Antonio. Martha has two kids from her previous marriage, and she’s had steady employment for several years. While she has work, the income earned is just enough to pay the monthly bills.

After her divorce, she met Daniel, and he immediately became engaged with her children. Daniel works as an assistant manager at a local hotel and earns the going rate. From an economic standpoint, the family has the bare necessities, but far from the luxuries.

Enter Abel

Several years ago, Martha heard that a friend from Mexico was looking to re-locate to Texas. He had the appropriate status to work in the United States, but had limited resources to make the move. He had no place to live, and he didn’t understand the local business culture that well.

Looking to lend a hand to her friend, Martha offered Abel the opportunity to live in her home while he looked for a job in his industry. Abel immediately took advantage of the offer and worked waiting tables at a local Mexican restaurant. He wanted to learn the ins-and-outs of the business.

Back to the Wedding Party

At the restaurant, several people grabbed the mic and congratulated the recently married couple. The champagne was flowing, and the spirits in the room were great.

Speaking last, Abel confidently approached the center of the room, and made the following remarks while maintaining eye contact with Martha:

Several years ago, I reached out to Martha. I let her know that I was having a tough time finding work in Mexico, and I wanted the opportunity to start brand new in the United States. Martha didn’t hesitate, asking me to come live with her until I could land on both of my feet.

It took me nearly two years, but I finally was able to save enough money to open this restaurant. As you can see, we worked very hard to make it look nice, and you will soon taste the food. I’m sure you will love it!

I would like to tell you that none of this would have happened without Martha reaching out to me. To Daniel, I must tell you that you have married a wonderful, beautiful, and caring woman. Without Martha, we would not be here today. I’m glad that I can repay her by welcoming her and everyone here to my home today.

As I witnessed this talk, I was amazed how one kind gesture can lead to big things. Because Martha helped a close friend, Abel was able to realize his dream. In doing so, he has an establishment that provides value to our entire community.

When you help others succeed, you actually help yourself. This is nothing new, but still impressive.

As a business owner, I am interested in learning how organizations are using fewer resources to do more work. In other words, I want to learn a simple and straightforward methodology to apply in my organization that will yield long-term results. I am not looking for a shortcut, but rather a proven set of steps that I can use to improve the bottom line for my company. Like any other business leader, I am searching for a process that can be learned quickly and leads to results.

After extensive research, I arrived at the following equation: G = ME2

G (Growth) = M (Momentum) times Economy of Energy (E2)

Like Einstein’s Theory of Relativity, E = MC2, the Theory of the New Economy equation is easy to remember. However, it is not necessary to have a physics background to understand how to apply it. In short, G = ME2 is more of an applied approach to experiencing business and personal success.

M = Momentum

One important component to business success is momentum. The organization must have clear goals and objectives that are aligned with the mission statement, or the reason the company exists. In addition, the leadership team must provide a vision that is understood by all employees, and in which everyone has clear expectations. In essence, the M can also mean Money. It is critical to know how the organization is generating revenue. Inherent in the variable momentum is sustainability, or a long-term perspective. The leaders of the organization must create a strategic plan whereby the new reality is maintained.

E2 = Economy of Energy

Most successful organizations today are using business process tools that remove wasteful steps, such as Lean Management, Six Sigma, and Project Management. I heard the term Economy of Energy from a colleague who was describing his Kung Fu training. When he mentioned the importance of conserving resources while competing in martial arts, I immediately saw an application to the business environment. That is, you want to maximize the production level of your resources, and simultaneously improve the quality of the product or service given to your customers.

G = Growth

Business growth is often defined as an increase in revenue and market share. In finance, you learn that organizations exist to maximize shareholder’s wealth. In other words, higher revenues lead to an increase in stock value. Many organizations focus on gaining leverage within their industry by increasing their share of the market. An advantage to a larger market share is having influence within the industry.

The Theory of the New Economy requires both momentum and economy of energy practices. The organization must focus on generating sales and removing wasteful steps. As revenues grow, and efficiencies are realized internally, the company experiences exponential growth.

Sharing Your G = ME2 Success Stories

Regardless of your industry, many of you are using the Theory of the New Economy equation. To share the knowledge with others, I welcome your examples. I read that a life insurance company reduced the number of steps required for approval by more than 80%, resulting in a quicker decision and more sales. Some of you have created internal efficiencies that improve the quality of service, such as adding a follow-up telephone call or email to customers. You may be using technology to upsell products, and thereby increasing momentum.

In 1789, Benjamin Franklin wrote: “In this world nothing can be said to be certain, except death and taxes.” For the sake of time, let’s skip death and taxes for now. From my standpoint, the conversation regarding mobile technologies is more appealing.

We are more mobile today than ever before. While email has its purpose, many of us prefer the immediacy of texting. We own Blackberries, iPhones, iPads, and so on. In essence, we want information while on the run. We don’t have time to boot up our laptop, run a web search, and get back on the road. It’s now or never.

How is your business catering to the mobile customer? Do you have a plan? Perhaps the best question is the following: Do you know the type of information that mobile customers wants to receive from you? You can rest assured that your competition either knows this answer, or is currently doing the research.

Knowing Your Customer

A recent Harris Interactive survey revealed the following regarding mobile users:

81% indicated that when they are looking for information on their mobile device, they need it right away.
40% of the smartphone users stated they are more swayed by users’ opinions given in the last 24 hours than those expressed a month ago.
68% were interested in learning whether a restaurant was busy at the moment.
63% of the respondents indicated that the current tone of the crowd was important when choosing the location.
40% of smartphone users wished they would have known more about what was taking place when observing a crowd.

Your Vibes Matter

Regardless of the business you own, you must have a plan in place to capture the mobile audience. Are you sending out vibes to let everyone know about the products and services you offer? It’s imperative you use social media to spread the word. From a marketing standpoint, this means you begin with a push approach. In essence, you are pushing the message to the customer.

Getting Started

Targeting mobile users requires a plan, and it’s not that tough to get going. Start with the people who frequent your business. You need to collect social media information, such as Twitter and Facebook. It’s also helpful to request mobile phone telephone numbers, and ask for permission to text specials, promotions, and event information.

Second, create a simple plan. Remember that a plan requires that you measure performance. The first step in planning is to determine where you are, otherwise known as your baseline. For most businesses, the level of sales is an excellent metric. If your business is slow on Tuesday nights, perhaps you can run a promotion on a product or service for that timeframe.

Avoid getting discouraged when a marketing initiative fails to work. In some cases, a simple adjustment to the delivery can make a positive difference. You can change the headline, increase the discount, or target a new age group. Once you have a plan in place, making adjustments is easier, especially since you will learn what is effective and what you should avoid doing.

The bottom line is that mobile technologies are here to stay. Electronic gadgets will continue to get smaller in size and even more powerful. The expectations are that businesses will be proactive in providing updated and immediate information to consumers. We are undoubtedly becoming digital nomads.