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Kevin W. McCarthy

The Professor of On-Purpose

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Sales

Have You Had Your Profit Epiphany?

June 22, 2017 By kwmccarthy

Profit-making has a bad rap.

Too often we associate profit with greed.

Truth be told, greed is an attitude of the heart that is often revealed in business but isn’t inherent to being in business.

If your heart’s desire is to truly be of service to others, then greed is likely not going to be your problem. Your challenge is just the opposite—you run so far from the appearances of greed that you overdeliver and undercharge so often that your business is hanging by a thread. Check your mindset and see if I’m right!

This On-Purpose Business Minute may be just the message you need to hear to awaken you that it isn’t your marketing, sales force, or operations that needs the adjustment—it is your internal posture about profits in need of repair. 

 

Are You Managing Your Profits?

March 9, 2017 By kwmccarthy

Profits are the lifeblood of any business. Without them, the business dies. However, the body of the business is your strategy, structure, and systems that are organized and managed in such a way that profit is the natural outcome.

It is so easy to get focused on managing to a profit that we forget the body of profit creation. Avoid falling into the pit of managing numbers and forgetting that profits are the result of a team of people being well led and organized to serve a customer base with sufficient value to produce a profit.
profit

Your profit and loss report makes a statement about what matters most in your business leadership. “Follow the money!” was the advice of Deep Throat, the Watergate secret informer. Following the money reveals much about the priorities of the business leaders and managers.

Your definition of profit frames your leadership and management methods. If net profit is only about the dollars and cents, then your cost of doing business is likely too high because you’ll have high turnover of team members and customers. Profitability is a financial as well as a human measure for adding and creating value. Ignore either one and your P&L will suffer. Invest in both and you’ve increased your probabilities for profiting.

Everyone profits when we recognize it is profits AND people, not profits or people.

Yes, financial profits matter. Integrating people and profits is the role of leadership and management, respectively. So how are you doing?

In the long run, your business’s valuation will reflect the attitude and excellence of the corporate culture you’re establishing. Short-term fixes (coupons and discounts) to stimulate profits are drug-like highs and can often undermine or compromise the core values of a business. This sends your best employees scurrying to the doors because it signals leadership panic plus a loss of stability and commitment to the people and brand promise.

Want to increase your profits? Increase your contribution, capacity, and capability to add value to your employees, customers, and stakeholders. Always look for substantive ways to create fundamental improvements in profitability. Everyone profits when we recognize it is profits AND people, not profits or people.

 


What Do You Do? (The “Do Do Dialogue”)

January 26, 2017 By kwmccarthy

You’re at a business or social event and the inevitable question arises, “What do you do?” Now is the time for your “Elevator Speech” to kick in and smartly sell your product or service. Or is it?

Most often we tell the inquirer our job category (e.g., I’m an accountant, plumber, salesperson … ) or job title (VP, realtor, sales representative) and where we work. At this point, the conversation often goes relatively quiet as they offer an unknowing, polite, or perhaps perfunctory response about your work, “That’s nice.”

If you dislike your work, perhaps ending the conversation about your job plays to your advantage by avoiding a disheartening conversation. It may also be that the person was simply making polite conversation and has no real interest in your business.

The other extreme is the canned elevator speech where your tightly crafted unique selling proposition is flawlessly presented worthy of a Toastmasters’ award. You’ve rehearsed it over and over so now you’ve said it. What do you get in return?

“Oh! That’s nice,” again. Then the person walks away for fear of being sold or bored by a rehearsed jerk with robotic responses. You were insensitive to the person.

No one likes to feel stupid or feel like they are being sold. Under either approach, at best they only have a shallow concept of what you really do and how you truly make a difference for your clients or customers. In short, you’re either putting them to work figuring out what you do or you’re working them over with your sales pitch.

The Do Do Dialogue takes a bit of thinking on your feet mixed with some advanced preparation. The goal isn’t to sell or present. Rather it is to discover how you can help them, how they can help you, or what a referral or recommendation looks like for either of you. (Yes, some of us actually think that way from the start).

Assuming, however, that you are an on-purpose business person working in an on-purpose position, then you truly are interested in the on-purpose business approach of Doing More Of What You Do Best More Profitably. If that’s the case, then your response to their question just short-circuited an organic opportunity to earn a new client or gain a source of referrals or just make a friend.

Instead, what if you had a respectful and relevant response that actually got the person interested in what you do—or at least more interested—while providing a clear understanding of your on-purpose customer? 

In either a business or social setting, before you show up, think about where you’re going to be. Who you’re going to meet. This gives a huge clue as to appropriateness of response. If you’re at a neighborhood block party or the Chamber of Commerce Lunch, then you’re walking into different settings. Be wise to that.

Here’s the social setting response when asked, “What do you do?” I quickly assess whom I’m speaking with: a retired person, a young mom, an unkempt teenager, or a man in his working years.

“Do you know how many (retired persons, moms, teens, or working adults) often feel that their life is meaningless?”

Their response is typically, “Yes.”

Then I say, “I help my clients write their purpose in life and make decisions that are aligned with it so they are on-purpose rather than off-purpose.” The next question from them is typically, “How do you do that? Are you some kinda life coach?”

My response isn’t to directly answer their question, but to probe a bit further. “Why do you ask? Do you know someone who is looking to know their purpose in life?”

At this point they’ll talk about themselves or someone they know. Now I can probe further. “Tell me about that.” So rather than telling them I have a company that “does life coaching,” I model it for them by becoming interested in them.

In a business setting, I’ll assess the person but unless I know otherwise, I always assume they are a P&L business leader because that’s my clientele. I want them to get someone in mind who needs my help.

I’ll say, “Do you know how stressful it is for (business owners, sales people, executives) who are charged with making (a profit, sales, a budget)?”

Their response is typically, “Yes.”

My next “do question” is likely to be, “Does someone come to mind?”

Again, they’ll either self-identify or get someone in mind. Then, I probe further, “So what’s that story?”

Each of these series of questions has the potential to open up a powerful conversation about either the person or someone they know and just might introduce you to. 

Learn the “Do Do Dialogue” and you’ll transform small talk into engaging opportunities. Who knows, you might just gain a new client or a referral and truly do more of what you do best more profitably.

Subscribe for free to The On-Purpose Minute and On-Purpose Business Minute. Enroll by clicking here and following the instructions.

What’s Your Elevator Speech?

January 19, 2017 By kwmccarthy

The Elevator Speech or Elevator Pitch is one of the staples of sales training and business development. But is it really effective? In this classic On-Purpose Business Minute, conventional wisdom is challenged.  

In 2010, I was speaking at a leadership event with 550 highly successful independent health coaches. When I described the “Do Do Dialogue” (The On-Purpose Minute for next week) the audience was intrigued and asked me lots of questions during and after the event. When originally produced, this video along with the Do Do Dialogue were posted on a web page rather than my blog so I’ve posted them both for convenience.

Be On-Purpose!

Kevin W. McCarthy

Employee Engagement: How Are Your Three E’s?

October 27, 2016 By kwmccarthy

Peter Drucker, the famous management guru, spoke of doing business with effectiveness and efficiency. Let’s add another “E” to the equation: Engagement, as in “employee” engagement. Learn to assess your career and business using these 3 E’s and you’ll be amazed what might be revealed about your career, team, or business. 

Engagement has more recently come to the forefront of employee discussions by The Gallup Organization. I admit to being a huge fan of their work on Employee Engagement. Twenty years ago, I had the pleasure of partnering with a Gallup leader on a client assignment, and I was roundly impressed. Several years back, I reconnected with their work again through a client’s company. Their books and StrengthsFinder survey are first rate as well.

Jim Harter, Ph.D., author of New York Times bestseller 12: The Elements of Great Managing, talks about the power of Gallup’s 12 questions at this Gallup site.

Team Engagement is one of the primary measures for a Chief Leadership Officer™. If you’re leading a business, then you need to get your head into this topic. Leadership of people is the future — engage with it! Be a CLO

Efficiency. Effectiveness. Engagement

Chapter 7 of Chief Leadership Officer will positively rock your take on employee engagement. Basically, the very use of the term “employee” dooms the engagement effort to failure. An employer-employee relationship is transactional. Whereas, engagement is relational.

Chief Leadership Officer – order your book today!

How Convincing Are You?

January 26, 2016 By kwmccarthy

We’ve become a contentious and polarizing culture. What place is there for hard edges and righteous attitudes in the course of civil conversation?

Does convincing work? No!

Is it more important to be right or to be in a right relationship? This doesn’t mean that you become a doormat for others to wipe their waste on your thinking or person. Rather it means that you maintain your dignity and decorum as others debate and argue. You need not be defensive or offensive, simply be an adult who doesn’t get drawn into the fray unnecessarily.
Conversing

To influence another person’s thinking there must be a basis of some trust and respect, period.  Those qualities of leadership only come within the context of relationship where conversation, not convincing takes place. Stop convincing. Start conversing!

This approach is much easier said than done. A great technique is to say to someone, “Look, I know I’ll never convince you to change your position, nor you mine; but I would appreciate understanding your rationale, perspective, and opinions on the matter.” Then sit back, ask questions, and learn what the other person is thinking. Then sincerely thank them for sharing and walk away better informed and prepared to understand a different point of view. Build the relationship!

 

4 Sales and Business Growth Strategies

August 27, 2015 By kwmccarthy

Guest Star Today!

Sometimes advice is just so good that I just have to share it! With the permission of my colleague, Meridith Elliott Powell, I am delighted to both introduce you to her as well as share her wonderful insights on strategies for building relationships, business, and revenues.

Please post your comments below. Also, Meridith’s email is below; connect with her directly. She would be delighted to hear from you.

Be On-Purpose!
Kevin

Meridith

Take a moment to assess the current sales and business growth strategies you have in place, then watch this video to get the 4 new business strategies I have outlined. You can email me with any questions or comments. I’m always happy to help! Have a successful week,

Meridith

Meridith Elliott Powell

Ready to get more from Meridith? Download her free copy of
6 Key Strategies for Connecting With Clients!

Christian Women in Business: ONPURPOSE@WORK: Join me live on air Oct. 19!

October 15, 2011 By kwmccarthy

Christian women in business face unique challenges. Whether you're an entrepreneur, president, or CEO or simply dreaming of a small business start-up we'll explore the many opportunities and pitfalls of business ownership. (Men are welcome too!)

Jory Fisher has graciously invited me to be her guest on her radio show October 19 (Scroll below to call in and listen).  We'll address how you can be ONPURPOSE@WORK. I'll be awarding a scholarship to ONPURPOSE@WORK to a deserving entrepreneur so you'll want to tune in to listen so you can learn how to earn by being yourself, prospering, and making a difference. 

Be On-Purpose!
Kevin

 

Jpeg

Details about Heart & Soul for Women of Faith

Heart & Soul for Women of Faith airs live Wednesdays at 12 noon Eastern / 9 am Pacific. To listen live online, click on Heart & Soul at BlogTalkRadio.com. To listen by telephone, please call 1.347.326.9296. If you wish to participate in the discussions either by phone or in the chatroom, you must register your name and email address first with BlogTalkRadio by clicking on “register” on the home page of the site.

All shows are archived on my BlogTalk Radio host web page for 24/7 access and for iTunes and MP3 downloads. They are also available on my website: www.womenfindpurpose.com

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