Achieving Business Excellence with John Spence

This Determines the Future Success of Your Business…

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As I look back across two decades of working with companies around the world, there are a few key ideas that I think are fundamental to business success, here is one of them:

 

The success of your business is directly tied to the quality of the people that you can get, grow and keep on your team – and the relationships they create with your customers.

I have yet to meet a single business leader that does not strongly agree with this idea, however I see a lot of businesses where they do not actually live this idea. Today I want to talk about the growth and development of top talent.

Once you get somebody on your team, there is absolutely no excuse for not investing time, energy and money in helping that person continuously improve.

Frankly, I believe this is the single most important investment you can make in your company, because without highly talented people who are steadily getting better and better, you have no chance of making your company better and better. I also write above that there is, “no excuse” because never in the history of humankind has there been more information available, much of it for free, to assist you in delivering world-class training to your people.

Here are just a few of the things that you should be doing:

  • Formal mentoring program
  • Creating a formal development plan for each employee
  • Creating an internal training department
  • Training classes taught by qualified outside instructors
  • Cross training
  • Benchmarking your training efforts against leading companies
  • Buying a copy of a book for each of your employees
  • Creating a lending library of top business books
  • Creating a lending library of training CDs
  • Getting your employees a membership to an audiobook service
  • Getting your employees a membership to a book summary service
  • Bringing in outside experts for a “lunch and learn”
  • Taking your employees to visit other companies
  • Sending out a newsletter with good information for your employees
  • Sending out a list of top podcasts they should be listening to
  • Sending out a list of YouTube videos they should watch
  • Investing in online/virtual training for your employees
  • Taking your employees to a major training seminar by an expert
  • Taking your employees to an industry event
  • Annual or semiannual company training conferences

These are just a few things that I came up with off the top of my head, I’m sure there are several more you could add to this list. But here is my point: if you are not doing all or most of this then you’re not truly serious about helping your people (and your company) to be as successful as possible. A good deal of what I have listed is absolutely free, much of it is very inexpensive, and only a few things require significant financial investment. But I can tell you this, not doing the things on this list is very, very expensive.

If you found value in this blog, I hope you will share it with your network.

***  I wanted to let you know about a very special event I will be participating in on March 12-14 at the Fairmont Banff Springs Hotel in the incredibly beautiful town of Banff, Canada. It will be an exclusive retreat for leaders of fast growth businesses who are looking to engage with other leaders in pursuit of higher levels of performance. We have done this event twice in the past and it has been a resounding success. If you’re interested, here is a link to learn more about the program, we would love to have you join us!

Click HERE to find out more

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The Foundation of Business Success

After more than two decades of working with organizations around the world, the single biggest issue I see in company after company is: Lack of Disciplined Execution.

I meet plenty of brilliant people, who have developed amazing products and services and have unique and compelling strategies for how to win in the marketplace. Yet time and again I see those strategies fail because they are not effectively executed. Below is a article that was created by an amazing company out of New Zealand called Advisory Works. They are among the world’s leading experts in helping companies execute their plans, which is why I am extremely proud to announce that we have formed a partnership so that the team at Advisory Works can assist my clients who are struggling to implement the plans that I help them create.

I believe you’ll find some very powerful ideas in this PDF, things that you can apply right away to help you be more successful in taking the exciting ideas in your company and turning them into action in the marketplace.

Please feel free to share this article with anyone you want to and if you think you might need a little bit of help, don’t hesitate to contact the folks at Advisory Works, you will be extremely impressed.

View and Download PDF

The Four Cornerstones of Strategic Execution 06

A Perfect Breakfast Storm

240_F_90927099_z6LSkcqAbKKIpsbNmhygPROfNiNTK1x9Recently I witnessed a perfect storm of two prevalent business problems:

 Activity vs. Results and The Law of Unintended Consequences.

 

I was having breakfast at a very nice hotel. When I was seated I asked the hostess if I could have a menu but she explained to me that they only offered a buffet. So I walked over and put together a plate of food. When I returned there was a glass of water on my table, however, I really like to have iced tea with my breakfast, so I looked around to try to catch the attention of one of the servers. I was literally the only person in the restaurant, yet I couldn’t get any help. The staff was feverishly working away at folding napkins and setting tables for lunch (it was 8:40 AM), busy as could be and completely ignoring me. When I started to eat my meal, the eggs were cold, the sausage was cold and the potatoes were cold, so I decided I might as well have some yogurt, because it’s supposed to be cold. I set my plate to the side and went back to the buffet for the yogurt, upon returning my plate was still there and no iced tea. After I ate my yogurt I waited patiently for someone to come over so that I could ask for a check, and no one ever came to my table. So on my way out of the restaurant I mentioned to the hostess that no one asked me to pay for my breakfast, to which she replied, “Oh it is included in with room, you have already paid for it.”

That is when it dawned on me. Because they had no way to earn a tip, nobody put any effort into helping the customers, it was much easier to just look busy folding napkins so that their manager did not give them a hard time. Again, I tell you these sorts of stories not to complain, but to hold up a mirror and ask you: Do you ever do this in your business? Do you judge your employees by how early they get to work, how late they stay and how busy they look – not on the quality of their work or results they deliver? Is your reward and recognition system in alignment with the priorities of your business?

Are you paying your people to do what is most important and drive success, or to have nicely folded napkins?

If you would like some ideas about how to improve your culture, I wrote a short ebook with my best ideas. Here is a link to learn more:

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“Must Read” Business Books from 2016

shutterstock_397576393A friend of mine, Jake Kostan, sent me a question asking: What is your number 1 must read book of 2016 in each category for sales & marketing, business and culture?

That’s really tough question, I read more than 100 business books this year (not all of them were written this year), many of them very good, but if I had to list just one in each one of those categories, here they are…

Sales

The Only Sales Guide You’ll Ever Need” by Anthony Iannarino

**Also in sales, if you have not read these two books, go read them right away**

SPIN selling” by Neil Rackham

Let’s Get Real or Let’s Not Play – transforming the buyer/seller relationship” by Mahan Khalsa and Randy Illig

Marketing

Marketing: A Love Story – how to matter to your customers” by Bernadette Jiwa

Leadership

Leadership Lessons from a UPS Driver – delivering a culture of we, not me” by Ron Wallace

Extreme Ownership – how US Navy SEALs lead and win” by Jacko Willink and Leif Babin

Culture

It’s My Pleasure – the impact of extraordinary talent and compelling culture” by Dee Ann Turner

Business Excellence

Simply Brilliant – how great organizations do ordinary things in extraordinary ways” by William Taylor

Personal Development

The Daily Stoic – 366 meditations on wisdom, perseverance, and the art of living” by Ryan Holiday

I could easily list another two dozen, and this was especially hard because many of my friends wrote excellent books this year, so I put links below to all of my recommendations over 2016.

If you read something that you thought was extremely valuable, please add it to the comments for all the rest of us.

Thanks so much and I hope that 2017 is your best year ever!!! Love, John

 

My book recommendations from 2016

Two Superb Books I Highly Recommend

Leaders Are Readers

Awesome Sales Book

What Is Your Legacy

Three Great Books

How To Become The Best in the World

How Do You Want To Feel?

 

 

 

6 Key Business Ideas to Help You Succeed in 2017

Mercedes, John, Sheila, Esther

Mercedes, John, Sheila, Esther

On behalf of myself, my wife and business partner, Sheila Spence, our Operations Manager, Mercedes Petrus and our Financial Manager, Esther Mallard – thank you VERY much to all of our clients from 2016 for trusting us to be involved in your businesses.

 

I hope you will share this video with your network, and if you have not already, please sign up for my blog – I only post good stuff!  blog.johnspence.com

 

The Big Trends From 2016

shutterstock_150443150I am sitting in my hotel room in San Diego taking in the view from the 16th floor. I’ve just delivered my last speech of the year, it was on advanced sales, teamwork and the future of work. This year I had the opportunity to work with clients in six countries, dozens of different industries, from small startups to the Fortune 10. Here are a few big trends that stuck out to me as I look back over 2016.

Communications: I have not worked for a company in my entire career that did not have some sort of communication challenges, but this year they seem to be even more prevalent. In business after business I encountered organizations which had trouble clearly communicating their vision and strategy for growth, their purpose and core values, and the critical information needed to keep their employees engaged and aligned.

The key to successfully overcoming this ever challenging issue is simply to over communicate using every channel available; one-on-one meetings, town halls, weekly meetings, email, social media, video… any way you can think of to share important information with your employees, vendors and customers. When you think you will get sick if you talk about the vision and strategy one more time, the lowest person in your organization just heard it for the very first time.

Execution: The lack of disciplined execution is the single biggest problem I see in companies around the world. I meet a lot of very smart people who develop unique and compelling strategic plans that would surely give them a strong competitive advantage, only to see them struggle mightily in taking their plans and turning them into results in the marketplace.

The key to successfully overcoming this challenge is to make sure you spend as much time building your execution plan as you do on creating the strategic plan. Your plan must have clear, specific, measurable and binary goals. As I often say: Ambiguity Breeds Mediocrity. For a strategic plan to be successful it MUST have extremely clear expectations of what is required, who is responsible, how the work is to be done and when it is due. Then, you have to have the discipline to consistently work the plan and make sure it stays at the forefront of everyone’s mind. I promise you this, if you could increase the effective execution of your strategy by just 10%, it would have a massive positive impact on the success of your organization. This was a major focus of my work for clients this year and I anticipate it will be again next year because even the best strategy in the world is useless without superb execution.

Technology: For the last several years people have been talking about the, “hyper-speed of technological change,” but I don’t think they really understood just how fast technology is actually changing and the mind-boggling impact is going to have on every business in just the next few years. A number of my clients have asked me to deliver speeches on the future of leadership and business, which has forced me to invest a large amount of my time into studying the various trends in emerging technologies. To name just a few; robotics, artificial intelligence, big data, Internet of Things, genetic decoding and recoding, synthetic medicine, virtual reality and augmented reality are all accelerating at a pace that will leave many, many companies and people completely unable to keep up. Even though I have devoured all of the information I can get my hands on, it is still exceedingly difficult for me to comprehend just how monumental the changes to our lives, businesses, communities, and the world will be in just the next decade.

The key to successfully dealing with this change is to dedicate a minimum of 10% of your time to studying all of the technologies that will potentially impact your business. I currently work with several clients who are directly connected to the auto industry and have challenged them that unless they become “experts” on autonomous cars and other forms of transportation technologies their business might not exist in 5 years. Let me make this Awesomely Simple: Learn or Die.

Talent: For many, (if not most) businesses, two of the only sustainable competitive advantages left are the quality of the people they can get, grow and keep on their team – and the relationships they create with their customers. This means that talent acquisition, talent development and talent retention should be a major strategic objective. However, I still see many companies tolerate mediocrity, do not invest sufficiently in training and development and have difficulty retaining their very best employees (the bad employees don’t want to leave because they know they can’t get a job anyplace else). The success of your business is directly determined by the talent on your team and creating a culture of engagement, customer focus, collaboration, accountability and disciplined execution.

The key to successfully overcoming this challenge is to make getting and keeping wildly talented people as a major focus of your business. Build a talent pipeline to ensure a steady stream of quality recruits, implement a focused and consistent interviewing process, create a robust onboarding system, develop a focused and intensive training program to take great people and make them even better, and have a career pathing program with mentoring, assessment, feedback and coaching to keep your top performers engaged and thinking long-term about their role in the company.

Sales Effectiveness: Nothing happens until somebody sells something. Let’s face it, all of the other stuff I’ve mentioned is useless if at the end of the day nobody buys anything from your company. Sales are the lifeblood of every business, or as Peter Drucker famously said, “The purpose of a business is to create and keep a customer.” Unfortunately, the vast majority of salespeople that I meet are NOT prepared for success. They have not had enough good quality training, they don’t have the right attitude, they don’t spend enough time investing in their own development, they don’t do their homework on their products and services and they don’t spend enough time asking superb questions and being an intense listener when they are in front of their customer. In other words, they waste their customers time, which is the single biggest complaint that executives have about dealing with salespeople.

The key to successfully overcoming this challenge is to be highly selective and targeted in who you hire as a salesperson and then ensure they get all of the training, support and resources they need to be successful in the field. Set clear and specific sales targets, coach and mentor for them for success, over-train them on both sales skills and product knowledge, and align their compensation plan to strongly encourage their full engagement and a strong desire to be successful in their sales efforts.

Leadership Development: I have been teaching leadership skills for nearly 25 years and I can say with great confidence that in the last few years the requirements for being an effective leader have actually changed quite a bit. Theory X, command-and-control and “do as I say not as I do” has not worked in a long time, yet I still see people trying to “lead” this way. Currently just over 50% of the workforce is made up of millennials with this number growing every day, and millennials definitely have a different way they want to be led. If you agree with me that talent is a critical element in building a successful company, then it is important to remember the single biggest reason millennials leave a company is poor leadership. Several research studies also show up to 50% of lost revenues are a direct result of ineffective leadership. Those numbers should be eye-opening to you.

The key to successfully overcoming this challenge is to understand everyone in your organization needs to be a leader. That begins with treating them like a leader, training them, supporting them and rewarding them for superior leadership skills. It also means having the courage to remove people from the team who are ineffective in leading in your organization. I’ve also stumbled across a new idea this year that I think is an important complement to creating great leaders: helping people to learn how to be great followers. Although everyone in your organization needs to be a great leader, they won’t be leading all the time, actually they are typically “following” a good amount of the time as well. So it is also essential to help people understand the importance of being a supportive, encouraging and productive follower.

There are other issues I came across during the last 12 months, but these are the major ones my clients specifically hired me to help them with. I hope my recommendations above will help you if any of these sound familiar.

I look forward to your feedback and comments, what have you been seeing?

A Lesson About Team Culture

636103432294773262-0925-kcsp-utfl-068-asbThis is not a sports story, but it does revolve around a story about sports. I live in Gainesville, Florida which means it is mandatory for me to be a Florida Gators football fan. Last weekend we played the Tennessee Volunteers, they have not beat us in 11 years, the smartphone did not exist the last time Tennessee actually beat the Gators! However, this weekend they beat us… no, they crushed us. The final score of Tennessee 38 – Florida 28 does not come close to representing the thrashing our team took. The funny thing is, we were winning 28-3 at halftime, then Tennessee scored 35 unanswered points. By the middle of the third quarter the Gators had completely given up, they were walking with their heads down or sitting on the bench. There was an opportunity for us to come back and win in the fourth quarter, but the Gators had already decided they were going to lose. On the other side of the field, the Volunteers, even though they came into the second half needing at least five touchdowns to win, were motivated, focused and playing like a real team.

The big lesson for me came at the end of the game when Tennessee broke their decade-long losing streak and won a huge game for their school. The players had every right to dance around the field and celebrate, pumping their fists and mugging for the cameras, but instead they ran over to jump in the stands and celebrate with the other students. The head coach ran over to the sideline, climbed up on a ladder next to the conductor of the school band, and led the musicians in playing the Tennessee fight song. The attitude and conduct of the two teams during the second half of the game, and after the game, highlighted a big lesson about organizational and team culture and how, in a very large way, the leader sets the tone. One team quits halfway through the game and mopes off the field humiliated, the other team stays optimistic, cohesive, determined and then celebrates the win for everyone in the school, not just themselves.

So the question I have for you: How does the team at your company play?

 

*** If you are interested in learning more about how to build and sustain a winning culture, I have written a short and very focused e-book that outlines my very best ideas and tools. Here is a link so you can take a look: Winning Culture eBook

 

The Six Fundamentals of Business Success

blog-money-1This evening I’m giving a speech to 350 CEOs of small to medium-size businesses and I’ve been asked to talk about some of the fundamental elements necessary to build and sustain a highly successful organization. After running several companies and spending the last 22 years of my life helping businesses around the world be more successful, here are a few things I think every business owner needs to focus on:

1. Start with a clear vision and purpose for why you are building the company. By the way, if the only reason you’re starting the company is to make money, there’s a good chance it will fail. Success comes from a genuine passion to help your customers, if you are focused intently on that and charge a price that allows you solid profit margin, everything should work out fine in the end.

2. Solve a real problem. You also have to make sure that your vision and purpose are focused on delivering products and services that the market eagerly wants to buy. It does not matter if you think what you sell is really cool, the only critic whose opinion counts is the customer.

3. Build a world-class team. Competitors can copy your products, beat you on price, outspend you on marketing, but one thing they cannot do easily is beat a company that truly values top talent and gets them engaged and passionate about serving their customers.

4. Extreme Customer Focus. I have said this a million times and I am more than happy to say it a million more: whoever can attract, grow and retain the best talent, and also “owns the voice of the customer,” has a huge market advantage. Fantastic employees who build great customer relationships are a key to success in every business.

5. Quality and control. This one is very fundamental, but without it the other things above can’t work. You have to have very high quality products and services, deliver consistently superior customer service and manage the financials of your business with extreme discipline. There is a reason that one of the most often used clichés in business is: Cash is King.

6. Disciplined Execution. Once you’ve got all of the above factors in place, then you must be incredibly vigilant in always focusing on the most important things in your business and making sure they get done. If you do not take the time to make these things your top priorities, then you will likely have to make time for bankruptcy court.

How To Achieve Customer Service Success

shutterstock_2246461dqs72I think pretty much every business understands that giving great customer service is important. However, it confuses me why so few businesses actually deliver consistently good (not even great – just good) customer service when they know it is critical to their success. In my opinion, I think it’s because they have skipped some of the fundamental elements of creating a culture of great service, they simply talk about how important service is, but do not do the things necessary to achieve a high level of superb customer service. Here are a few questions to get you thinking about how well you have prepared your employees to consistently deliver an absolutely delightful shopping, buying and owning experience for your customers.

  • Does your company have a written Customer Service Credo that clearly explains exactly how your business and employees should be treating customers?
  • Has everyone been thoroughly trained (with plenty of on-going training) on all of the things they need to do in order to meet or exceed your Customer Service Credo?
  • Do they have all the resources they need to deliver the level of service you have promised your customers?
  • Do you specifically hire people that enjoy giving great service?
  • Do you assess your current workers by their ability to deliver superb customer service?
  • Are people who do not deliver great service removed from your company?
  • Do you do a minimum of two customer satisfaction surveys per year?
  • Do you have an awards program for employees that deliver superior customer service?
  • Do you benchmark against other companies that are recognized for customer service excellence?
  • Has your company won any awards recognizing you for great customer service?

If you can say “yes” to all these questions, then you are likely one of the few companies that can actually claim outstanding customer service as one of your unique differentiators in the marketplace. If you answered “no” to several of these questions, you’ve got some work to do.

*** By the way, I recently wrote a short and focused e-book on how to build and sustain a winning culture. It sells for just $4.99 and is available on Amazon. Here is a link to learn more about the book: Winning Culture e-book