Tag: John Raftery

We work mainly with business owners and managers in the SME sector and what we find in general is that they have a clear idea of what they want to achieve with their business, but what they don’t have are good methodologies in terms of implementing their vision for the business. One of the programmes we deliver is the futureSME and the management team programme. These programmes try to help business owners and senior management teams to deliver true leadership in the organisation. Any discussion about leadership effectiveness can be quite difficult to pin down. It’s about behaviour which is very hard to measure and values that can be difficult to articulate. At LEAP we have our own template that we go through with business owners. Here are 4 ways to increase leadership effectiveness.

1. Clarify the vision

The first thing we look at is the vision. We clarify what the leader’s vision for the company is by asking the question, ‘where do the leaders see the company going in the next two to three years?’ It’s about articulating that vision and finding a way to communicate that vision to the rest of the organisation.

2. Decide the purpose of the organisation

Once the vision has been established and clarified, we look at the core purpose of the organisation; what does the organisation represent and what do they want to achieve? I use the example of Ryanair distilling their message or purpose down to just two words – no frills. We try to help organisations to simplify their message and what it is they represent, so people in the organisation are clear about what behaviours and attitudes and standards are being set. That’s not just for the benefit of the staff but also to establish that sense of purpose for customers and suppliers as well.

3. Establish goals

Once we establish that purpose we look at the three or four primary goals that the organisation wants to achieve. Then we find a mechanism to articulate those goals particularly through visual management systems. One of the visual tools we use are Gantt Charts featuring various lines of action, where we assign work to people, in other words who is going to do what and when. It’s essentially a visual monitoring system , like a traffic light system to show what’s working and what isn’t. Green means the action is on target, orange means the action has been delayed or is still in progress and red is for tasks that have missed their completion date.

4. Measure performance

Another thing we try to establish is what the correct key performance indicators (KPI) are in the business. KPIs show the activities of team members and the level of progress in different areas within the business. One of the things I find working with companies is that they either have no KPIs at all, or they are measuring some KPIs but they are the wrong ones. The KPIs they are measuring are driving the wrong behaviours and activities within the organisation. That can greatly hinder a company’s performance and needs to be corrected as a matter of urgency.

So it’s very important that everything is aligned from the leader’s vision to the purpose of the company through to the goals, lines of action and KPIs. You can talk about leadership styles and the different types of leaders, but if you follow this clear methodology you can’t go far wrong.

 

leadership, leadership ireland, executive coach John Raftery is Senior Partner and Executive Coach at LEAP

 

Executive coaching programmes can benefit business leaders of all kinds whether you run a small, medium or large company. An executive coach can offer a business owner or senior manager an objective view of their performance as team leaders as well as offering fresh perspectives on their vision for the business and where it is going. Executive coaches don’t tell business leaders how to run their companies but they do give them open and honest feedback that they can use to their advantage to improve both their individual performance and the overall performance of the business. Executive coach John Raftery outlines 3 reasons why you need executive coaching and the role it plays in effective leadership development that benefits the whole organisation.

1. Executive coach as a sounding board

The first reason it works is because to a large extent business leaders don’t get an opportunity to talk in a confidential and safe environment. The key thing is that they can use the executive coach as a sounding board. Just trying to articulate their own ideas can be a challenge for business leaders. To a large extent business leaders live inside their own heads. Then they try to communicate with their staff and it can be difficult for staff to interpret what’s in the leader’s head. Communicating ideas to staff can be challenging. They may be cautious about articulating certain issues or concerns that they might have. So the first thing executive coaching does is it gives people the ability to try and articulate what is going on inside their own heads.

2. Provide feedback

The second thing an executive coach does is provide feedback, and ask challenging questions of the leader as well. It’s important that the executive coach has experience, has some knowledge or background in business so they have credibility with the leader in terms of giving feedback and acting as a sounding board.

3. Inspire action

The third thing an executive coach can do is inspire people to take action or prevent procrastination. A lot of leaders have particular issues that they know they need to address. But as long as it stays in their head they will never get around to actually dealing with it. But an executive coach will listen to you and challenge you and encourage you to take action. To start implementing a plan of action and set deadlines to deal with issues, and be confident that once you deal with those issues you can give further feedback to the coach. You then use that feedback to see how things have gone and decide where to go next.

It’s important to point out that executive coaching is non-directional. It’s a process that allows the business leader to make up their minds and come to their own conclusions. You’re suggesting ways forward, you’re asking the leader ‘what if’ or what are the alternatives. Is there another way of looking at this or how do they feel about approaching a problem in another way? What do they think the outcome would be if they tried an alternative solution? You are not saying to the leader ‘this is what you should do.’ You can offer advice and guide people in a certain direction but ultimately the business decision rests with them, they must come to their own conclusions. So really executive coaching is about providing the space for business leaders to explore options they may not have otherwise considered and then letting them come to their own conclusions. That way they take ownership of their decisions rather than passing responsibility to someone else. They own the decision and if they own it they are far more likely to follow through and implement it.

John Raftery is Executive Coach at LEAP

John Raftery

 

 

 

 

 

Recently the Bank of Ireland approved €1.2Bn in new credit for SMEs in the first quarter of the year. But businesses need to stay in shape to qualify for loans in terms of structure and strategy, as well as being efficient in their daily operations. Business advisor John Raftery explains why focusing on the bigger picture is crucial for companies seeking funding to grow their companies.

John why is it important for businesses to be in good health all the time to access funds?

Many companies don’t think about getting themselves into the right shape until they want to access funds, or put themselves on the market to sell the business. I would argue that companies need be in the right shape all the time, right throughout their lifespan. By that I mean companies need a very clear set of performance metrics that drive the company’s performance. These KPIs need to be visible and shared with as many of the staff as possible, if not the entire workforce.

In order to get to that point quite a lot of work needs to be done to make sure you are measuring the right things i.e. your KPIs are the correct ones. This goes back to what I’ve learned from working with SMEs throughout Ireland; that information is assumed to be available but often the information is in people’s heads or it’s stored away on laptops or in spreadsheets. Various individuals have certain pieces of the information, but there isn’t one overall document or format containing all the information for everybody to follow.

A lack of focus on the big picture

A lot of companies are very busy with day to day operations delivering their products and services. This ‘busy’ environment results in a lack of focus on the big picture. I think innately companies know they need to address that issue. They are aware they need to be better organised and create more efficiencies and focus more on the bigger picture, and they need access to information more readily. It’s always in the back of their minds to do that but they never get around to doing it because day-to- day activities take over and a lot of firefighting takes place. One of the reasons so many companies end up firefighting problems is because they don’t take the time to stand back and look at the bigger picture, and get themselves organised and more focused.

What are the consequences for companies who don’t share information like KPIs?
The consequences are more and more inefficiencies, a lack of communication between people and tasks getting completed with the same issues and problems arising again and again. A lot of companies are solving the same problem repeatedly without ever taking the time to do some root cause analysis. Information is often misinterpreted; people assume that what they are doing is the right thing.

For example, I was working with a white goods company who had a team of engineers taking care of service repairs. But the information regarding each engineer’s call out performance was not relayed back to management. It turned out that the first-time repair rate of the engineers was very poor, somewhere between 55 – 60{aa1e4c34c9c0f46e0a1f04e30c2eb1b9efaea7a47ed6ca6f324476e114da37f4}. The company owner never took the time to step back and examine that first time call-out rate because he was too busy firefighting problems within the business. As a result there were a lot of issues around this from customer complaints to rescheduling of visits, wasted time and problems with availability of materials. The company was very busy but unless they share information and step back to analyse and understand that information properly, and understand the issues that are causing the poor performance, they won’t be able to find the right solutions.

So companies can appear to be very busy but they‘re busy doing all the wrong things.

Yes, ‘busy fools’ is a term often used to describe companies in that situation. I always get uncomfortable when I see a company whose staff are doing a lot of firefighting. Now firefighting may be understandable sometimes when a business is going through a particularly busy period, or something dramatic has happened to the business. But firefighting should only be carried out for a short period of time. Then it should be back to normality, back to the organisation’s disciplined behaviours by everybody in the business. Unfortunately some companies are firefighting all the time. Some people even derive satisfaction from firefighting; they say a good firefighter always carries his own box of matches. There are people who think of themselves as heroes – MacGyver types – who like dramatic solutions, rescuing a situation and pulling it out of the fire.

Company Culture

It’s all to do with the culture of the organisation. You can walk into some businesses and everything is very calm because it’s very well organised. People know exactly what they are about and what they are required to do. If you ask them to report on their activities they can articulate exactly what their roles and responsibilities are, and tell you the performance of their department in relation to the overall performance of the business. You go into other companies and they tell you their tale of woe, how busy they are and all the hours they’re working, how they can’t take a holiday, the stress etc. But they are all over the place, there is no central core in the organisation to keep them focused and no disciplined approach that gets them to report back on a regular basis.

What solutions can you offer companies that are stuck in firefighting mode?

Well LEAP has a product called futureSME which is a business solution developed by researchers at the University of Stratclyde using European Union funding. It takes the best practice methodologies of the most successful large companies from around the world and applies them to small and medium enterprises. The futureSME method is the ideal tool to help businesses achieve clarity about their current performance and their vision for the company.

The methodology is divided into two sections

1. Visual Strategy
The first section looks at visual strategy which is about creating a vision for the company, and understanding what the company mission is in terms of its values and behaviours. It also examines the business model by performing a SWOT analysis to help business owners and senior managers create a clear strategy for the business going forward, and understand what their priorities are.

2. Visual Management
Once that company vision has been clarified you can move to the second step which is about visual management. This is where you set four or five goals for the company and those goals have to be succinct and clearly articulated and, most importantly of all, they must be measureable. Without measurement the staff and management teams won’t be able to gauge if progress is being made or not. You then need to create lines of action which prioritize various activities of the company. You assign owners to those activities and set timelines for completion of activities and outcomes. You also look at what type of results those activities will bring you in terms of efficiencies or cost savings. You will then be able to measure progress against your goals by using those lines of activities. Most importantly you will be able to use KPIs that will tell you if you are on track or not. Visual management will allow you to see where you are successful, but also tell you where you are falling behind and who is responsible.

Management Discipline

Once you have a clear set of KPIs they will drive performance of the company. But what you really need to underpin all of that is management discipline. The management team should meet on a regular basis, weekly or monthly, to review overall performance using the visual management tools. They should review the same things each month like their sales pipeline, their customer service performance, financial performance, operations and staff performance.

You have to have a very disciplined approach to it so that you are continuously monitoring your performance and progress in relation to your goals. If you want to approach a bank to raise cash then the bank can see very clearly how the company is performing. They can see what its direction is, what its goals are, what its strategy is. Rather than deciding that you need money and then creating more work for yourself by developing some business plan on-the-fly to get funding from the bank. That is not the most effective use of people’s time.

Are companies more likely to qualify for loans if they provide evidence of a visual strategy?

Well it’s not the only factor. They also take into account the market the business is in, that also has an influence. But if you require the money for investment because you believe you can improve your business performance, then you will need to be able to articulate what your strategy is, what your current performance is, what your goals are and what you are tracking to measure those goals. So it’s not the only factor but it’s a vital one to get right.

Why should business owners contact LEAP before trying to access funds?

We help businesses get into the right shape so they can access the funds they need to grow. LEAP is the sole licensed provider for delivering the futureSME business model to companies in Ireland. We have an excellent record of transforming businesses particularly in the SME sector. The tools we use were designed specifically for SMEs, and we have a very experienced business team who have worked with a wide variety of companies around the country.

In this part of John Raftery’s series on visual management he addresses the problem of team meetings that lack purpose, and have little effect on performance. Due to a lack of delegation and accountability meetings will often drift off the agenda, with team members no better off after the meeting than they were before it. What can managers do to correct this? Here John explains how to make team meetings more effective, and how a simple visual aid like a Gantt Chart can transform meetings.

Team leaders must track performance

‘What companies need are not meetings for meetings sake. Meetings do have a bad name and the reason they have a bad name is because they go on too long and tend to go off track. People often come in ill-prepared for the meeting, then minutes are taken and issued out. People don’t look at those minutes until just before the next meeting takes place, so nobody really takes any action. The meetings just go on and on indefinitely, without really achieving anything. There is no tracking mechanism to see how effective the meetings are.

Visual Management

The simplest and most effective way to make meetings useful and efficient is, once again, to introduce the concept of visual management. If you were to do a Google search on work plans you will probably see lots of different examples of plans which are basically Gantt Charts. Instead of issuing minutes to the team after a meeting, all you need to do is take your weekly or monthly meeting and divide it up into 4 or 5 core areas.

Creating accountability

Under each of those core areas you will have different lines of action in the left hand column. The next column will show who the owners of the lines of action are, in other words who’s responsible for implementing those actions. Then divide up the right hand side of the page with a timeline of 12 months or 52 weeks. There you track the activities by colour coding them using green, orange and red. Green indicating actions completed successfully within the timeline, orange indicating actions delayed or postponed and red indicating actions incomplete within the timeline.

How to make team meetings more effective_visual managementYou can then print this Gantt chart out on an A3 sheet of paper, and this can act as a very effective tool in managing team meetings. Not only does it show what people should be working on and what’s coming up next, it also helps you to track the things you have achieved over the year. As more and more items are shaded green, you get a good overall picture of the progress that’s being made. It’s a very simple but effective tool that gets away from the standard process of meetings that can often drift off course, and where no real progress reporting gets done.’

John Raftery is a business advisor and executive coach at LEAP.

What is Visual Management?

Successful teams use visual management_John RafteryHow do you go about developing a visual management system within your business? In our continuing series of visual management training articles, John Raftery delves deeper into the process of visual mapping. Here he discusses how management teams can use visual tools to help them display company goals and the actions that underpin them. Visual aids such as Gantt charts and bar graphs keep management teams focused on strategy and accountable for results.

Visual Strategy

‘I work with management teams and generally what we start with is getting the top 3 – 5 goals of the company articulated. Then under each of those goals we would discuss the strategies needed in order to achieve those goals. The strategies then have to be turned into clear lines of action. If you can imagine a large whiteboard or notice board that has lines of action, as in the form of a Gantt Chart. On the left hand side you have the lines of action, in other words the actions that need to be taken in order to achieve the top level goals. The next column will list the owners of those actions, in other words the people responsible for implementing the agreed actions.

Tracking Activities

There may also be a timeline that could be divided up into 52 weeks or 12 months or whatever is appropriate for that particular team. The chart will show when the various actions are going to occur, and you can flag the actions with a colour coded ‘traffic light’ system. Green means that the action is on target, orange indicates that the action is in difficulty or has been delayed or is still in progress, and red flags indicate the action has not been completed within the time frame agreed.

Gantt Chart_successful teams use visual management

Creating Accountability

This is a very simple but clear mechanism that allows the team to see clearly what activities are taking place within the company, who’s doing what and what progress is being made. The information is displayed on one large whiteboard, and alongside this you can display key performance indicators (KPI) in the form of bar graphs which will indicate how well your lines of action are affecting the performance of the business. Tracking these KPIs is crucial for identifying which lines of action are working and which ones need adjusting.’

 

Bill Gates once said, ‘your most unhappy customers are your greatest source of learning.’ However LEAP’s John Raftery, who works closely with SMEs, explains why measuring customer complaints can be problematic and unreliable. Although he acknowledges the value of customer feedback, he suggests another way to measure customer satisfaction that is both cost effective and powerful in its impact on the business.

John, what is an effective way to measure customer satisfaction?
One of the issues that come up regularly when working with clients in the SME sector is that managers don’t have a handle on how satisfied their customers are. And if they are trying to measure customer satisfaction they usually go about it the wrong way. Sometimes they measure complaints, which is absolutely the worst way to measure customer satisfaction. Measuring complaints does not give you any real sense of customer satisfaction. Another thing they do is carry out surveys, and they can be complex and expensive and often difficult to interpret.

Net Promoter Score
What I always recommend to customers to use is a very simple, very effective and inexpensive methodology known as the Net Promoter Score (NPS). It’s being used more and more in business. The beauty of it is the simplicity; you are only asking the customer one question. ‘How likely is it that you would recommend this product, service or company to a friend or colleague?’ And you get them to rate it on a scale of 1 to 10. The people who score anywhere from 1 to 6 we regard as detractors, that is people who have had a bad experience and are likely to relay that bad experience to others.

What the higher scores mean
The people who score between 6 and 8 are passive or neutral customers, they are happy to buy your product or service, but if a better deal comes along they will go with it; they are not loyal customers. Then we have the people at the top end who score a 9 or 10, these are the promoters and they are vital to your business. Obviously businesses need to increase the number of promoters of their business.

How to calculate your Net Promoter Score
The net promoters score is calculated very simply; you take the percentage of detractors away from the percentage of promoters and you get your net promoters score. So you are actually measuring your customer’s satisfaction by using just one number. That number is easily calculated at very little expense. You can carry out NPS surveys continuously or periodically and watch the number increase as you carry out customer satisfaction improvements in the business.

How to measure customer satisfaction more effectively

Other advantages of the NPS
Another advantage of the NPS is that it is fast becoming an industry standard score so you can measure yourself against other companies in your industry. Apple computers, for example, have a high score at 67. Compare that to Sony who have an NPS of around 30 in computer hardware. So you can begin to benchmark yourself against other similar companies. So the NPS is very simple, inexpensive and easy to analyse but very effective in giving you one single score regarding the level of customer satisfaction.

Why is it unhelpful to analyse customer complaints?
For two reasons; one is because it’s too late in the process. You’re dealing with an event after it has occurred. Secondly the people who are gathering the information on customer complaints will sometimes supress information, and what is regarded as a customer complaint can become subject to a lot of debate, that is whether it’s a genuine complaint or not. You can end up with a lot of messy data that you can’t trust. And besides, most customers don’t complain anyway, they simply go away, they vote with their feet.

Take for example a restaurant. You get a customer complaint. That customer is seen as the problem in some peoples’ eyes. You could be serving bad food all night and no one will say anything, but they won’t come back to your restaurant again. If someone complains they are seen as awkward or disruptive, and if the boss doesn’t welcome complaints and he comes down hard on the staff, then they won’t tell him about complaints.

How to measure customer satisfaction more effectively

Customer complaints – an opportunity for improvement
People look at a reduction of customer complaints as progress, but I always get suspicious of that. I think an increase in customer complaints is progress, because it means staff are engaging more with customers. People often feel uncomfortable about customer complaints when they should welcome it, because it gives the business an opportunity to find out where they’re going wrong. Customer complaints can be an opportunity for improvement.

However, in some sectors like the hotel industry for example, companies can often become overwhelmed by the volume of survey data. There can be information overload from customer feedback. And if the senior managers, or the owner, sits on that information and doesn’t share it with the rest of the staff then they don’t know what’s going on. They can’t figure out what actions to take.

Set Clear Objectives and Measure Performance
The NPS cuts through all that and identifies where the business is now and where you want to be; it’s a clear starting point. Once that score is established you can then decide what you are going to do to improve it. With a clear set of objectives and a new set of KPIs centred on actions and accountability, you can measure performance and see if you’re objectives are helping to increase your NPS.

 

There are many types of metrics companies use to measure success, but how do you know what the most effective Key Performance Indicator (KPI) is for your particular business? John Raftery, executive coach at LEAP, explains how keeping a Core Score  can dramatically improve your business performance and drive behavioural change.

The Core Score and Performance Management

One of the key issues that people have when they’re trying to run a business and trying to come up with Key Performance Indicators, is that most of the KPIs are financial. But in order to have a balanced score card you need to have KPIs across 4 elements of the business. One is obviously the financials, the second is people, the third is customers and the fourth is processes.

Sometimes though you can find a unifying score or KPI which is a core score for the business; the Core Score for the business is something you can map in graphic format, as in a bar graph. It captures the essence of the business and it becomes like a flywheel within the business that will drive all the other elements of the business.

The New York Metro Example

I’ll give you an example from Malcom Gladwell’s bestseller The Tipping Point, about how behavioural trends take hold in society. A candidate was assigned to take over the running of the New York City metro, a system which looked and behaved like a sewer in terms of its business performance and its visual impact on the customers. He was tasked with the job of turning the metro around. He disappeared into his office for a number of weeks and thought about the strategy for bringing the subway system back to success. He emerged after a long consultation and thinking process with an answer.

All the staff eagerly waited to hear what the answer was. They thought it was going to be a very complex strategy involving lots of financial data. But his answer was this: we are going to cut down on subway fare dodgers. We are going to adopt a zero tolerance policy towards people who get on the subway without paying. Everybody thought this was ridiculous; if you were going to solve the major problems of the NY metro that’s not where you should start.

But he persisted and added additional security to catch fare dodgers. The security company started catching so many dodgers that the NY police had to become involved and set up their own porto-cabins in the underground platforms to cope with the problem. They were arresting people in large numbers, sometimes with fare dodgers handcuffed and lined up like a daisy chain on the platform. The police also found that when arresting the fare dodgers some were carrying weapons or drugs or they were wanted for some other crime. The message went out very quickly across NY that if you want to travel on the subway, you don’t carry weapons or drugs, you pay your fare and generally behave yourself.

It then became evident that the safest way to travel in NY was by subway which resulted in an increase in footfall. With that increase came an increase in revenue which allowed authorities to clean up the trains, get rid of the graffiti and so on. The clean-up had a further effect of increasing footfall and revenues even more. Essentially what he had identified was a flywheel within the business that was easy to manage and would trigger other positive things throughout the business.

The Core Score Effect on an SME

The question is how would you apply that flywheel effect to the SMEs that we deal with? I’ll give you an example of a service repair business, where a service team was going out to repair domestic equipment in the home and it was €70 for a call out. A lot of the repair engineers were not completing the task the first time.

They had to go away again and return with a different part for the appliance or different tools that they didn’t have in their vans. So we looked at that and decided we had to start measuring first time completion rates on the job. It turned out that first time completion rates were just over 50. Almost half the engineers had to return to complete jobs on another day. That led to customer dissatisfaction as well as loss of revenue because you could only charge the customer for one call out. So there was huge inefficiency within the business.

We began to measure each engineer for their first time fix rate, and we figured out that if they could increase their first time fix rate by a certain percentage it would bring a serious amount of cash into the business, without having to make extra investment in resources. The second effect was that increasing first time fix rate also increased customer satisfaction rates. The third effect was it allowed the business to see which engineers were performing well and which ones were performing poorly. This helped to identify where the deficiencies were in terms of where training was required. Often just by measuring something there is a natural improvement in performance and we began to see improvement straight away. Cash began to flow into the business and there was no requirement for additional resources or investment. The business was transformed as a result.

So the key really is to try and find what the Core Score is, the flywheel in the business that will drive the rest of the activity within the business. Finding the right KPI that not only tells you how the business is performing, but will actually drive performance and drive behavioural change, and will drive other things within your business if its measured in the right way. So what I would recommend is that visual management tools such as a bar graph represents something that can drive behaviour and drive other activities within the business. If you can identify that it can have a very powerful effect on the business.

 

Success in business depends on so many factors – clarity of vision, product innovation, great customer service, leadership, management capabilities, employee retention, new customer acquisition. Many business owners and management teams are aware that these factors are critical to success, but fail to implement performance processes that hold individuals to account. Accountability for delivering on strategic goals and objectives remains a critical issue for many businesses, particularly in the SME sector. John Raftery, business advisor at LEAP, explains what successful companies do differently, and how less successful ones can learn from them.

John, what do successful companies do differently?

I’ve been working with the SME sector for many years now, and one of the most successful things I do with them, in terms of impact is to give them a tour of a multinational company, particularly an American multinational. What they see there is a huge emphasis on clarity of purpose, measuring performance and accountability.

Visual Management

Multinationals are very clear on what their vision is and what they want to achieve. They get huge engagement from their employees through a lot of visual management systems. Their walls are literally covered in charts, graphs, timelines, value stream mapping, process improvement projects and so on. It’s all visual and it’s all there on display. What I find then when I go to less successful companies is that all the information is kept in peoples’ heads, on their laptops or on spreadsheets; it’s not visible at all. As a result there is no clarity about what the company is trying to achieve, there is no clarity about what the performance levels are, there’s no clarity about who is doing what, or what effect they are having. If KPIs exist at all they will only be kept by a few senior managers and hidden away on laptops and spreadsheets. We need to get them out there, we need them displayed, we need to get people buying into them, we need to get people understanding them, we need people taking ownership of them and delivering on them themselves.

Can big business practices work in an SME environment?

There is always a question of ‘how do we do this? Can we take the best practices of the successful multinationals and adapt it to our own SME environment? The answer to that question is yes, we can do it. The first thing people say is that it’s not suited to the Irish culture, but that’s totally untrue. One of the most successful countries in the world in terms of adapting to the American multinational culture is Ireland. The Irish workforce lap this up because it’s about engagement and communication, it’s about ownership and empowerment and teamwork. These are all the things that turn on the lights of the Irish workforce. But how do we do it then for SMEs? Is there a process, a method that can be undertaken to take these good ideas and implement them into a small company? And again the answer to that is yes.

The futureSME process

We have a process called the futureSME which is a well-researched, well developed process and its sole aim is to take the best practices from the most successfullarge multinational companies, and adapt them for the SME environment. It is a well-structured, well organised, well developed programme that undertakes to do just that. It’s delivered through ManagementWorks in the Management Team Programme and creates the culture of accountability necessary for success.

futureSME

The primary goals of an Executive Coaching Programme are to support business owners by helping them to clarify their vision for the business, delegate more effectively, and to create the space necessary for innovation in order to drive the business forward. In this video John Raftery, executive coach at LEAP, addresses 4 main questions regarding leadership development for business owners.

  • What is the role of an Executive Coach?
  • What are the 3 most common problems faced by business owners?
  • How does an Executive Coaching programme impact on the business?
  • How can business owners benefit from an Executive Coaching programme?

Gain valuable insight into the role of the executive coach, how business owners benefit from a leadership development programme and crucially, how these programmes help your business become more profitable.

At the core of the executive coaching programme is the theme of personal development. To understand more about this see  5 Key Factors in Personal Development for Managing Directors where John delves deeper into the kinds of skills and traits that successful business leaders spend years practicing and developing.

Please feel free to leave a comment on the video using the box below. Thank you.

 

In the business world, managing directors face a variety of challenges when trying to develop their companies into successful and profitable enterprises. As business leaders they need to arm themselves with a set of skills and traits that will allow them to maximize their own potential and the potential of their staff, and thereby maximize profits. But how do successful business leaders get investors, employees and consumers to trust their vision and ideas? The answer is through effective leadership and at the heart of that lies the concept of personal development. There are no magic formulas for success but as LEAP’s John Raftery explains, there are 5 key factors in personal development for managing directors that can influence your company’s bottom line.

1. Self-Awareness

“The key factor that dictates success in any endeavour, whether it’s in a business, a family, social settings or in a community, is emotional intelligence. The concept has been around for years, but essentially the most successful people in all walks of life are people who have high levels of emotional intelligence. What defines emotional intelligence more than anything else is self-awareness. There are lots of techniques to develop it such as psychometric tests and personality testing, but essentially what you need to do is devote a lot of time to reflecting on your behaviours, your attitudes and emotional responses to situations. It’s about questioning yourself and trying to reflect as much as possible in order to build up self-awareness. The reason why self-awareness is fundamental to emotional intelligence is because without it you won’t know what needs to change, or what issues need to be addressed in the way you behave. Self-awareness is the foundation to good personal development and making an impact on the world around us. Without it we are lost and it’s a never ending quest. We can spend our whole lives developing and honing self-awareness.”

2. Motivation

“There are two types of motivation; intrinsic motivation and extrinsic motivation. By intrinsic motivation I mean you are motivated internally, by something you want to achieve or gain for yourself in order to find personal fulfilment. Extrinsic motivation is where you are motivated by external factors such as status, money or power. Both internal and external motivation can be quite strong and lead you to achieving huge success, but ultimately intrinsic motivation is the stronger of the two because that always remains with you. And linking that back to self-awareness; the more awareness you have, the more you can tap into your source of motivation to drive you on.”

3. Self- Efficacy

“The third element is one of the more important ones. Self-efficacy is the ability to control your responses and your emotions without being stoic or frigid in your responses. In other words you give the appropriate response in appropriate situations. You can decide what your response is in a particular situation and you can control your behaviours. That includes behaviours relating to alcohol, exercise or diet and more importantly having control over your emotional responses. It means accepting you are in control of your emotional responses.”

4. Empathy

“The fourth element is the one that is most lacking in the world today. Essentially empathy is the ability to put yourself in another person’s shoes, to see things from their point of view. All conflict comes from a lack of empathy, from major conflicts to minor ones. People who are psychopathic have no empathy at all so they can’t feel another person’s pain. They can’t relate to other people. People with high levels of empathy can tune into other people and read situations better. They are better at reading the emotional responses of the people they’re trying to manage, or motivate or develop or relate to in some way. They are much better listeners than talkers, and by listening more you learn a lot more. There’s an old truism that God gave us two ears and one mouth and we should use them in that proportion. Listen twice as much as you speak. Allow others to speak without interrupting. Often when we are in conversation we are thinking about what we are going to say next rather than listening to what others are actually saying, and being inquisitive about what others are saying to us.”

5. Social Dexterity

“The last thing is what I call social dexterity which, at its most basic level, means interacting with other people. Basic things like shaking people’s hands, how you look them in the eye, and what your body language says about you. How confident are you in certain situations? How assertive are you? How do you relate to others in your network? How do you communicate with people? Can you actually lead teams or teams of teams? Can you lead an organisation? Can you relate to and manage large numbers of people? Social dexterity is something we try to develop in our children; we try to make them socially comfortable. We try to get them to relate to their peers, to get them to develop leadership skills through sport and so on. Ultimately this is the foundation that should lead people to greater levels of social dexterity further down the line. It’s one of the key components of leadership. I believe if an individual can develop the five key areas of self-awareness, understanding motivations, develop high levels of self-efficacy and empathy, and are comfortable and assertive in terms of social dexterity, then you’re looking  at an individual that can have a great  deal of influence on the people they come into contact with.”

 

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