Cincinnati (1116)

In order to succeed in business you need to have inner confidence - that state of feeling certain about and trusting in yourself. You can have confidence in your goals, your team, your system and your family, but if you lack self-confidence, you are missing the main ingredient for success.

Lack of confidence makes it harder to:

 

 

  • Make sound decisions

 

 

  • Lead others

 

 

  • Perform tasks and duties correctly

 

 

  • Get a raise or promotion

 

 

Today I will provide you with 5 confidence tools that you should use on a daily basis in your business and professional life.

Let's get started!

Confidence Tool #1 - Focus

As I mentioned last month in 5 Tips for Improving Your Focus as a Busy Professional - over the years in my coaching and speaking, I have found focus to be of the utmost importance for success in the workplace. Too many professionals try to "fly by the seat of their pants" and lack any ability to direct their attention.

To use the tool of focus effectively, you must first determine the things that need your concentration and focus. Take the time to assess and evaluate them. What should come first, second and so on.

Once you have things evaluated and set out, laser-target your focus and do not allow yourself to be swayed away from the task at hand.

Knowing what needs your attention and intently focusing on those needs helps free the mind of distractions that lead to second-guessing and lack of confidence. This builds motivation that in turn leads to building a positive energy that helps you remain calm and focused during times of stress.

Focus prepares the mind for action.

Confidence Tool #2 - Mentorship

Anthony Robbins and others have talked a lot in recent years about modeling the success of successful people. The idea is to find someone who is successful in your area of work or expertise and do what they do - modeling their successful behaviors.

While I agree that this is helpful, I have always felt that simple modeling comes up short. When I model, I am left to my own devices. I am forced to determine just what it is that has made the person successful. In essence, I have to guess.

Mentorship overcomes this shortfall. Mentoring involves working directly with someone who can help you find your strengths and weaknesses in business. Mentoring takes the guesswork out of the process.

Find someone in your area who is a leader - someone who has achieved a level of success and ask him or her to mentor you. Work with their schedule to find times where you can meet and discuss your needs and desires related to your business.

I have found that many leaders enjoy the ability to mentor others.

Can you see how this tool can help with your inner confidence? It is powerful!

Confidence Tool # 3 - Attitude

You can become the smartest, well-trained and mentored individual with the absolute worst attitude and that attitude will lead to your demise.

Zig Ziglar said it this way:

"Attitude, not aptitude, determines altitude."

How high you fly in the world of business is determined not by how much you know, but by the power of your positive attitude.

Ziglar was a trainer and teacher for dozens of years; he was not speaking against you learning new things and being mentored by the best. It's a matter of perspective.

Truly confident people - not those who think confidence is made up of simple arrogance, are those who have a great attitude toward business, work and life. These are the ones that co-workers want to follow.

Attitude moves your action forward.

Confidence Tool #4 - Exercise

In her article: Get Ahead at Work: 5 Ways to Increase Your Confidence In Business, Kelly Lynn Adams talks about the role exercise plays in developing confidence in business.

She states:

"Exercise has been shown to improve both mental health (by releasing mood-improving endorphins) and physical wellbeing (by reducing the likelihood of illnesses) while also improving the way you feel about yourself. So, whether you prefer to dance, go to the gym, run outside, bike, take a yoga class or box, get moving. It may just pay off, literally!"

I could not have said it better!

Exercise provides strength for action.

Confidence Tool # 5 - Action

I have been hinting all along in this article that there is one very important tool that must be used in order develop the confidence needed to achieve true success in business.

That tool is action.

We must get up, get moving and get out there on a daily basis. Actual hands-on doing is a powerful provider of self-confidence. Action defines the muscle of confidence. Consistent, daily action makes that muscle strong.

When focus, mentorship, attitude, and exercise bolster action, inner confidence no longer becomes a struggle we face.

Use these tools and develop the confidence you need to achieve your wildest dreams in business.

DeLores Pressley, motivational speaker and personal power expert, is one of the most respected and sought-after experts on success, motivation, confidence and personal power. She is an international keynote speaker, author, life coach and the founder of the Born Successful Institute and DeLores Pressley Worldwide. She is the author of “Oh Yes You Can,” “Clean Out the Closet of Your Life” and “Believe in the Power of You.” Contact her via email at info@delorespressley.com or visit her website at www.delorespressley.com.

Friday, 31 May 2013 20:00

Are your messages getting lost?

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Remember playing telephone as a kid? You would sit in a circle with friends and whisper a message into the ear of the child next to you. By the end, when the last kid would announce the message out loud, everyone would break into laughter: It never bore any resemblance to the original message.

Is that still happening to you? Are your messages getting lost in a modern-day game of telephone?

I see it in companies all the time. The CEO knows the message — in this case the business’ vision and strategies — but it gets terribly distorted as it gets passed along and it becomes no laughing matter.

There are reasons why messages get lost.

No. 1, managers often don’t understand or even hear the message or its importance. Its relevance to their work hasn’t been explained to them.

No. 2, the noise of stress can deafen the message. Today, employees are running at breakneck speed in order to stay competitive. The priority is on responding to immediate needs and putting out fires. Under stress, many managers can’t hear the message or can’t prioritize communicating it.

No. 3, competitive work environments mean personal job security comes first and the company’s long-term success second. We make decisions that are in our best interests, not always thinking whether they’re aligned with the company’s goals. When that happens, the message gets sidelined in favor of short-term gain.

In order for the message to stay intact, it needs to be communicated loudly and clearly over and over again, and everyone in the circle needs to be responsible for passing it on accurately. Don’t wait until the end to realize the message has been mangled.

Articulate the vision and strategy.

The importance of this can’t be overstated. The vision and strategies — your message — should be presented to people over and over again, not just in words but visually.

Visuals resonate with people and make the message stick. Develop a visual representation of the company’s vision and display it prominently throughout the organization.

Generate confidence and commitment.

In order for people to pass the message on accurately, they need to know, “What does this mean for me?” and “Why should I care?”

Today’s competitive work environments are making people incredibly anxious and concerned about the future. People want reassurance about their own futures and their company’s future. Perhaps more than ever before, they need inspiring visions for the future that they can take confidence in.

Give them a vision they can support and make it clear that the company needs them on board in order to succeed. Let them know how they will benefit if the company reaches its goals. Once they believe in the company’s future and their role in it, they’ll be committed to the message.

Accept accountability.

Leaders must accept personal accountability for communicating clearly. Each leader must commit to communicating in ways that align with the original message. No matter how tense things get, the message can’t get dropped or distorted at will by one leader. If a leader or leaders stray, the situation must be addressed immediately. Otherwise, the strategy has no teeth and will not be trusted.

Invest in management.

Commend leaders who communicate well and work closely with those who need more help. Remember that this is a process. In order for it to work, people will need mentoring and coaching.

Break it down.

Our high-pressure work environments mean that people will want to throw out long-term strategies when the going gets tough. In order to prevent that, work with managers to create daily, weekly and monthly priorities that meet short and long-term goals.

 

Donna Rae Smith is a guest blogger and columnist for Smart Business. She is the founder and CEO of Bright Side Inc., a transformational change catalyst company that has partnered with more than 250 of the world’s most influential companies. For more information, visit www.bright-side.com or contact Donna Rae Smith at donnarae@bright-side.com.

Many aspects of the Patient Protection and Affordable Care Act (PPACA) become effective Jan. 1, 2014, but preparing for that date is difficult for businesses because not all of the rules and regulations have been written.

“As of last month, there were still 1,200 regulations yet to be written by the end of the year. I don’t think anybody has it figured out yet — that’s the biggest problem,” says William F. Hutter, president and CEO of Sequent.

Nonetheless, there are steps businesses can take now to be ready for 2014. “The first thing to do is to understand the PPACA. Unfortunately, there is no definitive source of information on how it will impact companies because of the yet-to-be written regulations. So you need to read a variety of materials, starting in July — that’s when we should see those rules and regulations start to manifest,” says Hutter.

Smart Business spoke with Hutter about strategies small and midsize businesses can take to deal with the uncertainty surrounding health care reform.

Is there a chance that the effective date of PPACA provisions might be delayed?

Some factors already have. The Small Business Health Options Program (SHOP), an exchange for small businesses to purchase health insurance, has been delayed for a year. Also, nothing has been presented showing how the federal health care exchange, a marketplace for individuals to purchase insurance, is going to work.

Since everything is in flux, what can companies do in preparation?

A number of strategies are going to emerge, and many might have questionable structure. If someone presents an opportunity too good to be true, it probably is. Be careful about vetting companies offering creative strategies to avoid some of the impact of health care reform.

One legitimate strategy on the increase is the use of cell captives. Companies will self-insure, but with minimal exposure. There are good self-insurance options for businesses in the 60- to 70-employee range that will exempt them from certain aspects of the legislation, such as unlimited rehabilitative services. An employee can go to rehab for 30 days, come back and four months later have another drug problem that sends him or her back to rehab — there’s no limitation and it’s covered under the Family and Medical Leave Act. A company can design a plan that doesn’t allow that because it’s not required in a self-funded plan, even though it is part of the minimum essential coverage required under the PPACA in the fully insured environment.

All of these self-funded plans will become high deductible health plans with three layers of risk. The first is the employee deductible, which will pay the first layer of claims. The second layer will be an amount of self-retained insurance risk a company insures. The insurance company will pay the third layer. That setup protects insurance companies from a lot of the smaller claims. In Ohio, about 70 percent of claims are less than $8,000.

What impact will reform have on health care costs?

It will not bring down the cost of insurance because there’s nothing health care reform can fix relative to the aging demographics of the workforce. There’s been a dramatic increase in recent years in the use of medication and cost of defensive medicine. As baby boomers continue to age, those costs will only increase. There are not enough 20-somethings coming into the workforce to compensate for the aging demographic in the state of Ohio.

If anything, the cost of regulation just keeps increasing. A recent study stated that fines and penalties are expected to total $88 billion. All kinds of alternative strategies are being considered, not to avoid the intent of providing good coverage for employees, but because of uncertainty with the legislation. If you can create certainty by having a new health care plan design, that’s good for business. At least you know what you have.

We’re not going to see the conclusion of how health care reform is going to be implemented for a decade. It’s going to be a really long time.

William F. Hutter is president and CEO at Sequent. Reach him at (888) 456-3627 or bhutter@sequent.biz.

Website: Understand your legal obligations when sponsoring a health plan for your employees. Download a checklist.

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When you go to the dictionary to look for the definition of focus, you will see such lofty things as:

the point where the geometrical lines or their prolongations conforming to the rays diverging from or converging toward another point intersect and give rise to an image after reflection by a mirror or refraction by a lens or optical system.”

or:

a point at which rays (as of light, heat, or sound) converge or from which they diverge or appear to diverge.”

Luckily, for those of us that are not physicists, I did find one definition that makes sense when trying to understand the meaning of focus:

“a point of concentration or directed attention.”

What do you concentrate on the most with your business? Where do you direct your attention? These are the questions of focus. Over the years in my coaching and speaking, I have found them to be of utmost importance to the success of those in the workplace.

Let's look at 5 tips for improving your focus as a busy professional.

1. Stop doing what you are doing.

If you struggle with focus on a daily basis and you continue to think and act in the same manner – you need to stop and stop right now.

The quote that is often attributed to Albert Einstein speaks to us here: “Insanity is doing the same thing over and over again and expecting different results.”

Stop. Breathe. Assess. Evaluate.

This leads us to our second tip.

2. Determine what needs your concentration and attention.

In the workplace, too many people “fly by the seat of their pants” when it comes to what needs to get done. In most instances, it is pure laziness that sustains this way of doing things. It takes work to stay focused and be successful.

As I said above, you will need to assess and evaluate in order to determine what needs your directed attention. Hopefully you have goals in place for yourself and your team. Let those goals be the defining line for your focus.

This leads us to our third tip for improving your focus as a busy professional.

3. Clear all unnecessary distractions.

Once you have determined the areas and actions that need your concentration, it is time to laser target your focus. In order to do this, you must clear away anything that would disrupt, distract or lessen your laser focus.

Things like:

 

 

  • Cell phones

 

 

  • Television

 

 

  • Email

 

 

  • Social Media

 

 

  • Instant Messaging

 

 

  • Coworkers

 

 

  • Tasks that could be delegated

 

 

Make a list of all the things that you must stop doing in order to stay focused. This is the opposite of the normal to-do list.  It will make clear what needs to be cut out from your daily routine.

Some distractions are going to be hard to give up because they have imbedded themselves as habits – and habits take time to change. Development of laser-targeted focus does not happen overnight, but it must be practiced daily in order to achieve its mastery.

4. Work in 60- to 90-minute blocks of time and provide yourself a reward.

Do not expect too much from your focus. Saying that you are going “to work until it's done is an overload for most of us. It is also too vague and not goal-oriented.

Set aside a specific amount of time for a designated task. Studies have shown that we do well when we block off 60- or 90- minute time frames. This allows you to see the light at the end of the tunnel and know that a break is coming.

As we work, our alertness drops off, increasing the lure of distractions. Set a timer and take a break at the end of each cycle.

How about a reward? We all like rewards in one form or another – even if we are the one giving the reward. Say to yourself, “After this 90 minute session of work I am going to take a 10 minute break and walk around the building.”

Other possible rewards are:

 

 

  • A snack (be careful not to overindulge and get sleepy)

 

 

  • Text messaging

 

 

  • Fresh air

 

 

  • iTunes

 

 

5. Learn to say no.

I mentioned delegated tasks earlier. Many busy professionals struggle with delegation. We tend to hold the old attitude of“if you want something done right, do it yourself.”This might be true in the here and now, but in the long run it will lead to lack of focus and, ultimately, exhaustion.

Learning to delegate is a form of learning to say no. “No, not me, not now.” When we learn to say no, we are truly saying yes to our focus.

There are many other tips that one can use to stay focused. These are the five that I have found to be the most useful. Take the time today to try one, two or all of them. Your goals deserve your focus.  Your team deserves your focus. You deserve it as well.

DeLores Pressley, motivational speaker and personal power expert, is one of the most respected and sought-after experts on success, motivation, confidence and personal power. She is an international keynote speaker, author, life coach and the founder of the Born Successful Institute and DeLores Pressley Worldwide. She is the author of “Oh Yes You Can,” “Clean Out the Closet of Your Life” and “Believe in the Power of You.” Contact her via email at info@delorespressley.com or visit her website at www.delorespressley.com.

Wednesday, 01 May 2013 14:25

The key to generating interest

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The ultimate endgame in any marketing strategy is conversion.

While conversion means different things to different industry sectors, the actions of reaching conversion are universal. In retail, for example, it means searching for and buying a specific product online or in a store. In business-to-business, conversion could be when a prospective client reaches out with their contact information or and requests more information to engage with your services.

Conversion is a multitiered journey that consists of navigating through three steps — awareness, interest and engagement.

Awareness, essentially developing a brand message that resonates across all channels (such as Web, offline, print, mobile and video) is relatively straightforward if you have the proper brand strategy. You must define two things: who you are and what it is you’re trying to say.

However, converting awareness into interest, and eventually engagement, is where organizations most often lose their way.

I personally see this problem regularly manifest itself during a review of an organization’s website. Often, there are too many words and screens of text to sift through, and those words are either clichés or don’t really mean anything to the organization’s prospective — or current — clients.

The bottom line: The organization gained my awareness but lost my interest. Conversion is less likely a potential outcome.

This, however, is easily solvable.

One way to turn awareness into interest is by creating more consumable content, which is defined as providing, in a simple and nonoverwhelming way, the key points that will grab someone’s attention to learn more about what you do and what you offer.

Think of it this way: Develop clean, concise copy that clearly defines what you do and why you’re different from the competition and that articulates your value proposition, without being wordy. You should not have to scroll down more than one time on a Web page to accomplish this goal.

When you look at traditional advertising, the same problem exists. Review your current ads and ask yourself these questions: Are you running an ad that truly reflects your brand? Does it articulate your intended message and your brand through a series of a few choice words? And is there a defined call to action?

Now consider how you’re messaging to your prospects live, such as through your organization’s presence at trade shows.

At your booth, are you presenting a video reel that drones on for five or 10 minutes and includes every aspect of your company? Why waste a lot of money producing a corporate video that is too long, boring and that no one will watch? You will never see an ROI for your efforts.

Instead, determine whether you can develop a short experience at your booth that captures your desired audience’s attention. For example, combine a simple one-page handout with a brief video — no more than a minute long — that uses powerful imagery, focused messaging on your differentiators and a series of client icons that demonstrate who you work with.

You can always expand upon that brief overview video through a series of short complementary videos that are focused and highlight different segments of what your organization does and how it does it.

Let your prospect choose which area of your business he or she is interested in and wants to learn more about — whether it’s through your website, in print or in person. When someone chooses to learn more, it’s a safe bet that he or she is engaged.

The initial goal of all of this should be to generate interest rather than make a sale. The time for conversion is later, but you’ll never get there if you don’t generate interest and engagement first.

Dave Fazekas is vice president of digital marketing for Smart Business Network. Reach him at dfazekas@sbnonline.com or (440) 250-7056.

What if the leaders at IBM had stuck to making punch card equipment? What if after making the transition to the personal computer market, they had stayed entrenched there?

Punch card equipment is long gone, and with recent PC sales numbers significantly in decline, the leaders of IBM have stayed ahead of monumental changes in the market and kept the company moving forward for decades.

The secret?

An open mind.

Too often, CEOs place self-imposed limitations on themselves, both in business and personally. The status quo becomes acceptable and new ideas become verboten. When this happens, growth is stifled — a dangerous situation. Many business gurus will tell you that you are either growing or dying. A stagnant company sees itself as not losing ground, but as its competitors move forward, its relative position in the market fades, even though it views itself as standing firm.

The only way to avoid this is to keep an open mind. CEOs need to constantly grow and learn from a personal perspective — so they constantly improve their leadership and people skills — and also from a business perspective — so new ideas are allowed to push the organization forward.

While there are many approaches to keeping an open mind, here are three ways to get started.

 

 

  • Embrace trial-and-error. Finding success might require experiencing a dozen failures. Whether it’s a new way of running a meeting or trying to find the next innovative product, accept the fact that success has a cost. Don’t eliminate an idea because it goes against what the company has always done.

 

 

  • Seek knowledge. As a professional, a CEO should never stop learning. There should always be a curiosity about your industry that drives you to seek an understanding of the latest trends and strategies, but you should be constantly looking at other industries as well. Often, best practices in one industry can be applied to another. If you are the first to make the move, it will give you an advantage over the competition.

 

 

  • Find a mentor. The right mentor can make you aware of your blind spots. Without someone to offer a different perspective, it is easy to fall into familiar ways of thinking, thus stifling the chance of new ideas taking root.

 

 

The longer a CEO runs a business, the easier it is to fall into the trap of doing what worked yesterday or last week. When this goes on long enough, the business ends up with an overall strategy that is several years old.

You would never say, “Let’s use the same strategy we developed five years ago,” but because of a closed mind, that’s what ends up happening by default.

Be vigilant about your search for knowledge. In the end, it will make you a better leader and improve your company’s chances for success.

Fred Koury is president and CEO of Smart Business Network Inc. Reach him with your comments at (800) 988-4726 or fkoury@sbnonline.com.

When you flip a light switch, turn on the water or start your car, you expect reliability every time. For employees, it’s just as mandatory that they be reliable, by showing up on time, completing the tasks at hand and basically doing their jobs time and time again.

By the same token, your employees expect you, as their leader, to be reliable. This means when you say you’ll do something, you do it, when they need direction, you provide it, and when the chips are down, you’ll be there for them.

Being reliable is good, but being too predictable — not always. In fact, being too conventional can make your company a “me, too” organization that only reacts to what the competition does, rather than taking the lead. It can be a bit more daring to set the trend, but if managed and controlled correctly, the rewards dramatically outweigh the risks.

Warning signs that your leadership has become too predictable occur when your subordinates begin finishing your sentences and know what you will think and say before you utter that first word on just about every topic. Compounding the problem is when your employees begin to perpetuate the negative effect of you being so darn predicable by believing it themselves and telling others, “Don’t even think about that; there’s no point bringing up your idea about X, Y or Z because the boss will shoot you down before you take your next breath.” This bridles creativity and stifles people’s thinking and stretching for new ideas.

It’s human nature for subordinates to want to please the chief. Under the right circumstances, that can be good, particularly if you are the chief. But it can be a very bad thing if you are looking for fresh concepts that have never before been run up the flagpole.

Uniqueness is the foundation of innovation and the catalyst for breaking new ground. George Bernard Shaw, the noted Irish playwright and co-founder of the London School of Economics, characterized innovation best when he wrote: “Some look at things that are and ask why. I dream of things that never were and ask why not?”

The “why not” portion of this quote is the lifeblood of every organization. A status quo attitude can ultimately do a company in, as it will just be a matter of time until somebody finds a better way.

As a leader, the first step in motivating people to reach higher is to dispel the image that you’re exclusively a predictable, same-old, same-old type of executive who wants things a certain way every time. There are dozens of signals that a boss can give to alter a long-standing image and dispel entrenched mindsets. You can always have a midlife crisis and show up at work in a Porsche or Ferrari instead of your unremarkable Buick. This flash of flamboyance will certainly get people questioning what they thought was sacrosanct about you. The cool car might also be a lot of fun; however, the theatrics might be a bit over the top for some, not to mention a costly stage prop just to send a message.

A better solution is to begin modifying how you interface with your team, how you answer inquiries from them and, most importantly, how to ask open-ended questions that are not your typical, “How do we do this or that?”

Another technique is when somebody begins to answer your question, before you’ve finished asking, particularly in a meeting, abruptly interrupt the person. Next, throw him off guard by stating, “don’t tell us what we already know.” Instead, assert that you’re looking for ideas about how to reinvent whatever it is you want reinvented or improved in giant steps as opposed to evolutionary baby steps. If you’re feeling particularly bold, for emphasis, try abruptly just getting up and walking out of the meeting. In short order, your associates will start thinking differently. They’ll cease providing you with the answers they think you want. Some players will hate the new you, but the good ones will rise to the occasion and sharpen their games.

If you want reliability, flip the light switch. To jump-start innovation, you could begin driving that head-turning sports car. Better yet, get your team thinking by how you ask and answer questions and by not always being 100 percent predictable but always reliable.

Michael Feuer co-founded OfficeMax in 1988, starting with one store and $20,000 of his own money. During a 16-year span, Feuer, as CEO, grew the company to almost 1,000 stores worldwide with annual sales of approximately $5 billion before selling this retail giant for almost $1.5 billion in December 2003. In 2010, Feuer launched another retail concept, Max-Wellness, a first of its kind chain featuring more than 7,000 products for head-to-toe care. Feuer serves on a number of corporate and philanthropic boards and is a frequent speaker on business, marketing and building entrepreneurial enterprises. Reach him with comments at mfeuer@max-wellness.com.

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When Jean-Paul Ebanga looks up at the sky, he thinks about the more than 3 million people who fly every day on airplanes powered by CFM International engines. In fact, every 2.4 seconds an airplane departs under the power of a CFM engine.

“That means our role today is far beyond delivering engines to the industry; it is also making sure people are traveling in a very safe way at a decent price,” says Ebanga, president and CEO of CFM International, a $15 billion aircraft engine manufacturer that is a joint venture between GE here in the U.S. and Snecma in France.

CFM — which gets its name from a combination of the two parent companies’ commercial engine designations, GE’s CF6 and Snecma’s M56 — combines the resources, engineering expertise and product support of these two engine manufacturers to build engines for narrow body aircrafts.

“Today, in the air transport industry, the narrow-body segment is the main segment of the industry,” Ebanga says. “Looking forward for the next 20 years, there will be a need for roughly 30,000 new airplanes; two-thirds of those will be narrow-body airplanes and CFM is currently leading this market segment.”

If being the industry leader in engine manufacturing wasn’t enough of a challenge, Ebanga also has the challenge of leading a joint venture company where compromise and collaboration is the key to success.

“If you are taking two parent companies with two different cultures and you try to blend them, this will generate some difficulties,” Ebanga says. “But the net result, because you have to find compromise, because you have to work between different cultures, will be more sound ideas and a much more efficient organization.”

Here’s how Ebanga utilizes both GE’s and Snecma’s resources to keep CFM the industry leader in narrow-body aircraft engine manufacturing.

Compromise and collaborate

While a majority of companies are focused on streamlining themselves, CFM has to take a different approach to its business. Its joint venture means CFM has to work to find compromise above all else in order to properly function at its best.

“The problem with the JV is because you have two different constituents, you have to make compromise,” Ebanga says. “There is no one voice saying this is the way and the rest of the team just follows without asking questions. In terms of leadership, it requires some things to be a little bit different than normal leadership.”

The existence of this additional challenge makes this kind of partnership too difficult for some leaders and companies. But Ebanga sees the glass as half-full.

“If you are able to find the sweet spot between the two company cultures and then work around these difficulties, you enable a new space of opportunities and strengths,” he says. “This is the essence of joint venture success.”

CFM has been known for a long time by its superb engine family, CFM56. Now the company is looking to release its next generation of engines called LEAP, for which compromise and collaboration will be key to its success.

“This new product will be designed based upon a very detailed and comprehensive market survey,” he says. “We spend more than three years asking the customer what they are looking for in the next 20 years and understanding in a granular way how the dynamics of the market can evolve, and then we define the product, which is the answer and the solution to that.”

When you have two companies, the reading of the market dynamics will be different because each company has a different way of operating and a different culture, so they will analyze all the signals in a different way.

“Maybe the solution has some things shared, but the two won’t be exactly the same,” Ebanga says. “The whole key is how you bridge the two approaches. How can GE or how Snecma can make the necessary compromise to accept that the other guys also have a great idea and how can you work together to bridge ideas that make a great product.”

The trick is being able to step back from what you believe is the ultimate answer and being able to compromise with other ideas from another company that also thinks they have an ultimate answer.

“By bridging the two, you find out that some of what’s behind the idea of the other company you didn’t think about at first and vice versa,” Ebanga says. “At the end, the product you are putting on the market is far better than the one you could have done alone.”

Both GE and Snecma own their own technology. Snecma works on the front and back of the engine, while GE works on the middle of the engine. For LEAP, they both have been developing technologies for their respective parts of the engine, but the companies don’t unilaterally say, ‘Here’s our part of the engine.’ The other company has to accept and agree with the technology based on analysis. There are checks and balances that go into the process.

“Based on the other company’s remarks, you can improve your own part,” he says. “Snecma might make some comments about the core, which is the responsibility of GE and taking into account these remarks GE will improve its own part of the engine and vice versa. It’s a mutual cross-pollination.”

The level of compromise and collaboration that CFM has developed has been built up during more than 30 years and is now a major part of the joint venture’s culture.

“In our case, the different GE and Snecma leaders, over time, understood that CFM’s success is more important than their own success,” Ebanga says. “That is to say that if I’m trying to optimize my own interests rather than CFM’s interests, at the end of the day, I would lose the game.”

CFM and GE have been very successful at carrying out this approach even though the leaders have changed.

“One way to do that is we manage young leaders in the challenges of working in this strategic partnership environment,” he says. “If you are growing leaders in this environment, eventually when they are in the top spot, they will have the framework to deal with what makes up the success of this JV.”

A joint venture takes an investment in both people and process in order to make it work.

“In a strategic partnership, it is like being a couple — you could fall in love day one and it’s great for a couple of weeks, but if you are not investing in the relationship … it won’t be a great love story,” he says.

Plan for the future

One of the main challenges CFM has is that in the ’70s it was just a start-up company. Now it has become the leader of the aircraft engine industry, and in order to remain in that position, Ebanga and the company must be forward-thinking.

CFM has several matters it needs to focus on for the future of the company. No. 1 is executing on current commitments.

“This is a big deal because we are currently developing a new engine family called LEAP, and the start of this new program has been very successful,” Ebanga says. “We are the sole power plant for the next generation of Boeing 737 MAX aircraft, one of the two engine makers of the Airbus A320 aircraft, and we are the sole power plant of the new Chinese COMAC C919 aircraft.”

Beyond making LEAP the next engine of preference, CFM also has to ensure that whatever changes the market goes through in a decade or two from now the company will be able to adapt and reinvent itself to stay in the leading position.

“When you are in this top-dog phase, it’s difficult,” he says. “It’s about working on a short-term basis and, at the same time, articulating a strategy to change the way we are running to make sure we will still have the appropriate fit 10 years from now.”

Planning for what the future has in store is not an easy task. You need to address the situation in a very humble way.

“You are already overwhelmed by the shop-time challenges and to find time and perspective to think about the long-term is rather difficult,” Ebanga says. “Being humble helps you to engage in this journey. Along the way, you will have a lot of reasons to give up for a while and stick with the short-term. I think this is a recipe for failure. You need to stay humble on one end but also stay engaged and not let things go away.”

You also need to understand your market but not in the way you understand your market for your short-term objective.

“When you are looking at the market on a short-term basis, it is to make sure you have the appropriate marketing and value proposition to get yourself up and make your numbers,” he says. “When you are looking at the long-term perspective, it’s really the ability to elaborate scenarios about the change in your industry.” ?

How to reach: CFM International, (513) 563-4180 or www.cfmaeroengines.com

Takeaways:

Drive compromise and collaboration for best results.

Be able to reinvent your business to adapt to your market.

Develop plans for how the future of your market may unfold.

The Ebanga File

Jean-Paul Ebanga

President and CEO

CFM International

Born: Paris, France

Education: Graduated from École Nationale Supérieure d'Électricité et de Mécanique (ENSEM), France with a degree in engineering

What was your very first job, and what did you take away from that experience?

I was the leader of the photo club in high school. A lesson I learned from that time is that you can have some great ideas and be very fast in your head, but you have to have the ability to bring people up to speed. This is a great example of how a real organization works.

What got you into aviation?

It was the beauty and the exceptional achievement that this industry is all about. When I was in high school, I had two dreams—the first one was to be an architect and the second was to be an engineer to design great things. To imagine that I could generate some great things to enable this kind of achievement was absolutely fascinating for me. So I chose the engineering path and it still gives me great satisfaction. An aircraft engine is an absolutely amazing piece of technology, but also a piece of art.

Who is someone that you admire in business?

My first thought was the leaders and initial creators of Intel. Not only was this company able to start from nothing as CFM did and became the leading company in the microchip/microprocessor business. Initially they were the leader in the memory business and then they reached a point where they had to reinvent themselves. The reason Intel is the great company they are today is because they were able to reinvent themselves in the absolutely right way. So I admire this generation of Intel leaders.

Karri Bass loves to do consumer research. As a former Procter & Gamble employee, she constantly thinks about what drives consumer behavior toward a particular product.

That desire is what led her to launch Illumination Research, a marketing consulting company that was founded on a passion for uncovering what makes consumers tick and translating those insights into business-building ideas.

“When I was working in marketing for P&G, a huge part of our job was to better understand the consumer,” says Bass, principal and insight strategist at Illumination Research. “We want to figure out how they think, not only about the product category that we were marketing but in general.

“Who are they as a person? What motivates them? What different segments are there in the marketplace and to really understand that in order to be able to translate all that knowledge into business and ideas.”

Illumination Research was founded in 2005. It now has 25 employees and the capabilities to show its clients exactly how consumers would respond to new product offerings — and offers those clients advice on how to improve.

Start with packaging

One of the marketing aspects that Bass helps clients with at Illumination Research is packaging and how that packaging grabs a consumer’s attention.

“Say a client of ours might be launching a new product,” Bass says. “Part of what they need to do is create a package that breaks through the clutter on the shelf and grabs the attention of the customers. The package has a lot to do with getting attention and speaking to them.”

As an example of finding what catches a consumer’s eye, Illumination utilizes a mobile, virtual wall that projects a life-size simulation of a shopping environment such as a store aisle.

“Before companies ever have to invest in making physical mockups of packages, we can show them on this giant computer screen in the context of what a product will look like,” she says.

Technology and innovation such as this helps Illumination show its clients how a product will look and simulate where a consumer may focus attention depending on what is on the shelf.

“A lot of times, we’re just trying to understand which packages in the aisle or which one of their new designs do the best job of getting consumers’ eyes on them,” she says. “In those cases, we might recommend they do eye tracking with the research.”

The company literally has consumers wear special goggles that track where their eyes go on the shelf to see if the package is even noticed.

“Then we want to understand once they see it what are they communicating about it,” she says. “In addition to innovative technology that allows clients to see how consumers relate to a product on a shelf, Illumination also poses questions to consumers and clients to understand the total messaging and purpose behind a product and how the company wants it to connect with a consumer.

Communication: oral and visual

“At the end of the day, it’s about the communication,” Bass says. “We have certain lines of questioning to get out the messaging and what’s coming across through the words and through the visual. It’s a marriage of both.”

Over the years, Illumination Research has been able to groom its process for understanding the consumer, which has helped deliver stronger results for clients.

“Every time we do interviews with consumers, you’re able to see what kind of questions better help them articulate their feelings,” Bass says. “A lot of our job is thinking on our feet, and we have to very quickly adapt from interview to interview with consumers and figure out what will yield the information that we will understand.” ?

How to reach: Illumination Research, (513) 774-9531 or www.illumination-research.com

With 88 percent of businesses now active on social media, the social media landscape is becoming more cluttered and more difficult. This means that, for businesses, it is becoming harder and harder to break through the noise and be heard.

In order to penetrate the noise, businesses must deliver the right message to the right person in the right way. Increasingly, the way that people want to receive messages online is visually.

We’ve heard that a picture is worth a thousand words, and this is true. The brain can process images faster than text. This is why images are breaking through on social networks — because they provide a quicker way for people to comprehend information.

Image-based social networks, such as Pinterest and Instagram, are among the most popular and quickest-growing social networks online. Images are the most liked and commented on content on Facebook and links to images get the most clicks on Twitter. All signs point toward images as the most popular, most shared and most liked content on social networks.

The point is that with so much content on social media, images are increasingly the content that is breaking through and getting results. I realized this trend and recently published a book called “Visual Social Media Marketing” about how brands can take advantage of this and get results.

So, what can you do to take advantage of this trend? Here are three simple steps to start taking advantage of the visual revolution online.

Include images on your website

The visual Web focuses around images, and as your website is shared online, the images from your website are usually the focus of how your website content is shared.

For example, when I post a link to a website on Facebook, the image is shown beside the link to my content. In this example, I’m sharing a link to our report on Google+. The image of the Google+ report is on our website.

Having the image on our website is important to how the link to our website shows up on Facebook. The reality is that if you want to drive traffic to your website from social media, each page on your site should have relevant images that are appropriate for sharing on social networks.

Use images on existing social networks

If you want your business to be successful on social networks like Facebook, Twitter, LinkedIn and Google+, images must be a part of your strategy. Consider these statistics:

?  Images are the most shared and clicked on content on Twitter.

?  Images receive 50 percent more interactions on Facebook.

?  Google+ users have uploaded 3.4 billion photos.

?  Recruiters spend more time examining a LinkedIn user’s picture than actually reviewing the person’s qualifications.

These statistics show that if you want to break through on the leading social networks you must have an image strategy. Images are easy to consume and eye-catching, and with all of the content on social networks, images break through and get better results than text updates.

Consider joining Instagram and Pinterest

Instagram and Pinterest are two of the quickest-growing social networks and they can be your way to reach new audiences and get results ahead of your competition. Consider joining these networks and participating in the community to reach your audience in a new and interesting way.

Visual marketing is a trend in social media that you just can’t afford to ignore. If you want your business to stay relevant, drive traffic to your website and build shares and likes on social networks, you can’t afford to ignore the power of images in achieving these objectives. ?

Krista Neher is the CEO of Boot Camp Digital. She is an international speaker and social media thought-leader, as well as the author of “The Social Media Field Guide,” “Visual Social Media Marketing” and “Social Media Marketing: A Strategic Approach.”