Why Top Professionals Are So Successful

FreeImages.com/Ramzi Hashisho

As the days grow shorter and cooler, I find myself reflecting on a week I spent in sunny  Florida at an Alan Weiss thought leadership seminar with 30 of the top consultants in the world. Though they work in different fields, they all have the following traits in common. Here’s why they’re so successful…

Value

All of them clearly understand the value they provide their clients. Whether they’re executive coaches, merger and acquisition specialists or operations and supply chain consultants, they all know exactly how they help their clients accelerate profit, growth and personal performance.

Boldness

They take bold measures to market and deliver their value. They’re provocative, innovative, and they challenge their clients’ thinking to help move them to levels of performance they never thought possible.

Action

They’re action oriented. Not only did they know exactly what they’d do back at the office to move their practices forward, but they began taking action before they’d even left Florida. I know because when I ran into them at the airport, they were already writing and scheduling their next steps for the following week.

In every profession, we can always work on improving how we articulate our value, being bold in our communication and delivery, and taking action.

© 2018 – Rick Pay – All Rights Reserved

Only the Paranoid Survive

FreeImages.com/Ramzi Hashisho

I subscribe to the theory of Only The Paranoid Survive! Put forth by Andrew Grove, the former CEO of Intel in his 1996 book, Only the Paranoid Survive: How to Exploit Crisis Points That Challenge Every Company, I believe this adage is a word to the wise in any business.

In his book, Grove talks about strategic inflection points, which drive fundamental change. When they occur, it’s time for the company to wake up and listen. Think of Sears and Amazon. Sears was once one of the leading retailers in the country; an example of companies built to last. But they missed the disruptive approach that Amazon brought to the market, the inflection points, and now appear to be on their last legs.

In my business, I believe three things will help me respond to inflection points: change, raising the bar, and expert advice. To read more about these approaches, check out my latest Growth Accelerator newsletter.

 

© 2017, Rick Pay. All rights reserved.

Advice – Take It or Leave It?

FreeImages.com/Krzysztof Baranski

“Americans love advice. So why are we still so screwed up?” asks Joe Queenan in the Wall Street Journal. As individuals and companies, we spend a lot of money each year getting coaches, being motivated, trying to lose weight, becoming better leaders and improving our businesses. So why aren’t we slimmer, better, and more successful?

Here’s what I find in my work with companies: they usually do fine in the planning and strategy phase, but then they fail to achieve the objectives they had in mind. Why?
1) They use outside help for the plan but not for the implementation. Implementation can mean major change, and often outside guidance and coaching is necessary.
2) They focus only on problem solving and not on innovative solutions. In “Good or Great” I discuss why companies focus so much on being good that they forget to be great.
3) Ego – many companies believe they know what it takes to improve, but if that’s so, why aren’t they improving?

A long time ago, one of my mentors told me the three reasons companies should use consultants:
1) They don’t have the time or discipline to get it done
2) They don’t have the expertise
3) There are internal issues/politics that prevent a successful outcome

If you are facing any of these issues, consider using an outside expert to help you and your company get moving toward excellence.

© 2017 – Rick Pay – All Rights Reserved

Advice – Take It Or Leave It?

“Americans love advice. So why are we still so screwed up?” asks Joe Queenan in the Wall Street Journal. As individuals and companies, we spend a lot of money each year getting coaches, being motivated, trying to lose weight, becoming better leaders and improving our businesses. So why aren’t we slimmer, better or more successful?

Here’s what I find in my work with companies: they usually do fine in the planning and strategy phase, but then they fail to achieve the objectives they had in mind. Why?
1) They use outside help for the plan but not for the implementation. Implementation can mean major change, and often outside guidance and coaching is necessary.
2) They focus only on problem solving and not on innovative solutions. In “Good or Great” I discuss why companies focus so much on being good that they forget to be great.
3) Ego – many companies believe they know what it takes to improve, but if that’s so, why aren’t they improving?

A long time ago, one of my mentors told me the three reasons companies should use consultants:
1) They don’t have the time or discipline to get it done
2) They don’t have the expertise
3) There are internal issues/politics that prevent a successful outcome

If you are facing any of these issues, consider using an outside expert to help you and your company get moving toward excellence.

© 2016 – Rick Pay – All Rights Reserved

Why Top Professionals Are So Successful

Earlier this month I spent a week in West Palm Beach, Florida at an Alan Weiss thought leadership seminar with 30 of the top consultants in the world. Though they work in different fields, they all have the following traits in common. Here’s why they’re so successful…

Value

All of them clearly understand the value they provide their clients. Whether they’re executive coaches, merger and acquisition specialists or operations and supply chain consultants, they all know exactly how they enable their clients to accelerate profit, growth and personal performance.

Boldness

They take bold measures to market and deliver their value. They are provocative, innovative, and they challenge their clients’ thinking to help move them to levels of performance they never thought possible.

Action

They’re action oriented. Not only did they know exactly what they’d do back at the office to move their practices forward, but they began taking action before they’d even left Florida. I know because when I ran into them at the airport, they were already writing and scheduling their next steps for the following week.

Every professional has the efficacy to articulate their value, be bold in communication and delivery, and take action.

© 2015 – Rick Pay – All Rights Reserved

Increase Your Revenue with Value-Based Fees

Please join me for an important workshop on August 20, 2015 that will change the way you run your business, lead to dramatically increased revenue and reduce your labor intensity.

Do you feel you are on a fee plateau? Have you heard of Value Based Fees? Are you pretty convinced they don’t apply to what you do? Do you know how to calculate and present value based fees? Is your fee structure in your client’s best interest?

During this half-day workshop you’ll learn:

  • How value-based fees help you and your clients
  • How to identify your true Economic Buyer
  • Building a value-based relationship
  • Understanding business outcomes
  • How to calculate value-based fees for any service
  • Constructing the proposal
  • Using the results to get even more business

Join me and other professionals to learn, network and participate in team discussions. When you leave, you’ll have a better understanding of how you can apply value-based fees in your practice to increase your revenue and enjoy life more.

Date: Thursday August 20, 2015

Time: 8:30 – 11:45, Continental breakfast provided

Location: Crowne Plaza Hotel – Highway 217 at I5 – 14811 Kruse Oaks Dr., Lake Oswego, OR 97035

Cost: $350 if you sign up before August 1, then $395.

Register now

 

James Carville’s Three Secrets for Success

Recently I attended an event on thought leadership sponsored by my mentor, Alan Weiss, along with consultants from seven countries. The featured speaker was James Carville, the political commentator and former campaign strategist for Bill Clinton. During his talk, James shared three things people need to remember when pursuing success.

  1. Expect to get hit in the mouth
  2. Brevity is your friend
  3. It isn’t knowing what to do, but getting it done that counts

In business, being ready for that competitor, event or disaster that you didn’t see coming can really make a difference. For instance, with the unrest in Hong Kong, revolutionaries in western China, and changes in China’s leadership, if you have supply chains that extend into that part of Asia, you had better be ready for interruptions and change. Are you prepared to be hit in the mouth?

Whether you’re sharing ideas or rationalizing your supplier base, less is almost always more. In the world of process improvement, simplification is best. Occam’s Razor is a problem solving principle that says the simplest solution is most likely correct. Another way to say it is, “entities should not be multiplied unnecessarily.” One example that I use when I work with clients has to do with reducing the number of suppliers you have. It often cuts cost and increases speed.

Finally, execution is where the rubber hits the road. Companies often develop strategies that gather dust on the shelf. They avoid seeking outside assistance because they “know how to do it” themselves. The problem is they don’t get it done.

If you’re ready to accelerate profits and growth in your company, remember:

  1. Preparation
  2. Brevity
  3. Execution

© 2014 – Rick Pay – All Rights Reserved

Keep Your Nose To The Wind

Recently I sat at my dinette table watching my dog out the window. He was sitting in the sun sniffing at the wind. I could see his nose bob just a bit as he sniffed, and his head swung back and forth as he explored his surroundings through his sense of smell.

Dogs’ noses are somewhere between 10,000 and 100,000 times more acute than humans. They say dogs don’t smell the stew, they smell the meat, the carrots, the celery, the spices (each individually I expect) and every other ingredient. I suspect he could smell the dogs that walked down the sidewalk with their masters, the squirrels in the trees and the various wild animals that frequent the common area across the street. A big world presented itself to him simply by his keeping his nose to the wind.

Companies can see the wider world if executives keep their noses to the wind as well. While we may not be able to smell as well as dogs, by using things such as key performance measures, reading news and trade publications and talking with our employees, peers, industry colleagues, and even outside consultants we can see what is going by and coming at us soon enough to prepare and exploit many opportunities.

Check out the Tools and Media pages for more ways to keep your nose to the wind.

© 2014 – Rick Pay – All Rights Reserved

Operations Blind Spots

The other day the Operations Manager of a company I worked with last year called me out of the blue. He said, “As a manufacturer with over ten years of Lean experience, we found your external viewpoint was critical in helping us identify and address our ‘blind spot opportunities.’” Despite their extensive experience with Lean, they needed some outside help.

Folks often ask who my biggest competitor is, and I answer, “nobody.” That isn’t my ego talking; it simply means that most companies will try to go it alone without using outside consultants. Unfortunately, expecting the team that got you where you are to suddenly lead you somewhere new isn’t realistic. The blind spots are still there.

Can you see the forest for the trees? Are you aware of innovative approaches to your issues? If things are going well, could you do even better? Using a well qualified and experienced outside resource can help uncover those blind spots and lead to extraordinary results.

© 2014 – Rick Pay – All Rights Reserved

 

Advice – Take It or Leave It?

“Americans love advice. So why are we still so screwed up?” asks Joe Queenan in a recent article in the Wall Street Journal. As individuals and companies, we spend a lot of money each year getting coaches, being motivated, trying to lose weight, becoming better leaders and improving our businesses. So why aren’t we slimmer, better or more successful?

Here’s what I find in my work with companies: they usually do fine in the planning and strategy phase, but then they fail to achieve the objectives they had in mind. Why?
1) They use outside help for the plan but not for the implementation. Implementation can mean major change, and often outside guidance and coaching is necessary.
2) They focus only on problem solving and not on innovative solutions. In “Good or Great” I discuss why companies focus so much on being good that they forget to be great.
3) Ego – many companies believe they know what it takes to improve, but if that’s so, why aren’t they improving?

A long time ago, one of my mentors told me the three reasons companies should use consultants:
1) They don’t have the time or discipline to get it done
2) They don’t have the expertise
3) There are internal issues/politics that prevent a successful outcome

If you are facing any of these issues, consider using an outside expert to help you and your company get moving toward excellence.

© 2014 – Rick Pay – All Rights Reserved