Succeeding in a Changing World!

If you are finding the current times challenging and unnerving, this LMI Journal was written for you! Seven Great Ideas that Will Change Your Life Each of these articles has specific actionable information that you can use to gain better results in your business. Please take the time to read at least one – and consider reading more than that! 1. The ability to develop and sustain self-motivated people is a critical determining factor of your organization’s success or failure. · Become Self-Motivated in a Changing World,by Paul J. Meyer, founder of LMI (Click to read) 2. Six “New Year” questions that should be answered by every effective leader at the beginning of each year. · New Beginnings, by David Byrd, President of LMI (Click to read) 3. Increase your productivity by understanding your communication needs and leveraging equipment to meet those needs. · Managing Communication in the Office (Click to read) 4. Steps to facilitate good communication and maximize your success as a team. · Communicating for Results (Click to read) 5. Three key areas to increase team members’ productivity and use more of their potential · Focusing on How to Grow and Develop (Click to read) 6. The Four P’s: The wants and needs of people can be classified into four types. · Understanding Human Behavior (Click to read) 7. Unlocking Your Potential and Achieve Greater Results · Discover the unique LMI process (Click to read) Now is the time to act – don’t allow the forces of change to swallow you up – you have the ability to make change and lead from the “front.” The LMI process is truly a Catalyst of Change and Growth. Discover how! Michael D. Diercks, Regional President, LMI - Serving Columbus for 40 years! Partnering with Leaders to Increase Results and Enhance Value! (614)823-8150 - www.lmi-columbus.com - mdiercks@lmi-columbus.com - http://lmi-columbus.blogspot.com

Top Ten Things for Thriving During and After The Recession

TOP TEN THINGS FOR THRIVING DURING AND AFTER THE RECESSION

(Based on an article from www.forum.com)

I believe reading this will help you gain focus and make 2009 more than “just another recession year."

The Key to Success –
Doing More than “Just Surviving”
a Recession

The economy is in trouble and senior leaders face difficult choices in controlling expenses and working through the global downturn:

What to do? What to avoid? WHAT???

• Should we cut prices to maintain market share?
• How deeply can we cut costs?
• What about layoffs?
• How can I discourage defensive internal politics that protect others’ narrow interests?
• How can I lead my company to emerge from the end of the downturn on an upturn?

The Forum Corp. has done research which shows that business leaders who take the following 10 steps in three areas—financials, people, and organizational climate—are better positioned to emerge from the recession with their organizations poised for success.

FINANCIALS

1. Move quickly to reduce costs and control spending by narrowing focus. Winners in a downturn focus on a few critical priorities where they can develop a clear lead, and they walk away from bad business. Losers chase unprofitable sales in an attempt to hold their top line.

2. Refrain from across-the-board cutbacks. Preserve areas that customers value most. Businesses that uniformly cut costs often find that they end up damaging their ability to sell and deliver their products and services. How do you find out what customers value most? Ask them.

3. Consider alternatives to layoffs. Downsizing tends to bolster the bottom line and stock price in the short term but often creates long-term negative repercussions. Alternative strategies include cutting management bonuses, freezing salaries, and reducing compensation options. It’s critical to clearly communicate the rationale and impact to employees.

4. Invest in opportunity. A bad economy can present bargains, both in new assets and in new talent. Good areas to invest in are R&D, marketing, and customer-perceived quality. By contrast, investing in working capital, manufacturing and administration doesn’t pay off as well.

PEOPLE

5. Retain and develop top talent. High-impact workers are often more susceptible to being poached by a competitor in a downturn. Organizations that provide development experiences and rotational assignments have better employee retention rates.

6. Make sure everyone’s on the same page. When alignment on key goals is absent, performance suffers, according to studies on strategy execution. Top leaders frame an agenda and meet with key stakeholders to gain support and build commitment to overarching goals and values. Ineffective leaders let interoffice politics fester and hidden agendas dominate.

7. Encourage questions and new ideas by making it safe for employees to raise them. Leaders who admit they don’t have all the answers and ask for input empower their people to contribute their best ideas.

CLIMATE

8. Manage the heat. Leaders are often tempted in difficult times to relieve the organization’s stress by making unilateral, tough decisions. That’s often a mistake. Leadership by dictate often doesn’t take because it lacks a broad base of support, and it often eliminates constructive conflicts that challenge the status quo and fuel good decision making.

9. Communicate authentically. Strong leaders acknowledge the challenges they struggle with and, by doing so, build trust among followers. Rather than being a sign of weakness, it’s a sign of strength.

10. Create a positive vision and attitude that acknowledges reality. Businesses at the top of their markets often fall while “sleeper” companies sometimes jump to the top in a tough economy. When leaders exercise discipline and focus by mobilizing employees to respond to customers’ interests and values, they increase the chance that, when the downturn ends, they’ll come out on top.

Applying these lessons promises a tremendous upside: new competitive opportunities that result in a stronger business uncovering when the economy improves.

If you would like to discover how the unique LMI process can help you apply these key points so you are position to grow and thrive in today's market, call us today for a complimentary consultation.

Partnering with Leaders to Increase Results and Enhance Value!

Michael D. Diercks, Regional President, Leadership Management Institute

Serving Columbus for 40 years!

(614)823-8150 - www.lmi-columbus.com - mdiercks@lmi-columbus.com