Taking a Long Term Perspective
 
 

Having spent over half of my post college working career working in the industrial distribution business, I found the prevailing culture among the rank and file employees to be one of survival.  From my experience and conversations with people in other industries this experience is not radically different. 
 
In economically perfectly competitive businesses such as distribution, there are normally multiple outlets for essentially the same products.  This makes it very difficult to differentiate yourself.  And now in the age of internet commerce and increased information availability, it is even more difficult for providers of similar products to separate themselves from the pack.
 
The short term perspective driven by the competitive nature of industry causes many daily mistakes.  However, there have been some benefits to the customer in the form of rapid responses to requests for quotes, more rapid technical responses, prompt deliveries, product innovations and more efficient supply programs.
 
The felt need for instant responses from the suppliers causes people burnout, lost profit margins, lost business, inaccurate responses, compromised integrity and strife inside the company and outside the firm with all levels of stakeholders.
 
There are several ways to combat the pressure you may feel from the need to compress as much activity into as short amount of time as possible.  Number one is to do the most thorough, quality job possible in the time allowed and trust God to provide for your well being.  This type of attitude and conduct will honor God and significantly help in reducing time pressured errors.
 
Another way to combat the stress and errors driven by a short term viewpoint is to get a firm grasp on the long term impact of your decisions.  You must ask yourself if the value of delivering an unqualified technical response, a poorly researched bid, a partially developed product, a poorly written report or unprepared sales call is worth the risk. 
 
These are just a few examples of rushing through a process in business that demands a quality effort.  I’m sure you can think of many others in your area of expertise.  Simply stated, the risk of losing your integrity, reputation, concern for others and business opportunities is in no way compensated for by the time gained by cutting corners.
 
Try this proof of short term versus a long term perspective by grabbing a calculator and performing some simple math.
 
Fifty two weeks a year yield 260 working days.  Subtract 9 paid holidays and 10 days of vacation to yield 241 days.  Then begin to determine what percentage a week, a day, four hours and one hour represent as a percentage of that working year.
 

One Week = (5/241)	.02074 %	Or 2.1%     year.
One Day   = (1/241)	.00414 %	Or .004 %  year
4 Hours = (4/1928)	.00207 %	Or .002 %  year
1 Hour = (1/1928)	.0005186 %	Or .0005% year

 
 
Then begin to determine the time required to get the job done properly versus the rushed job that was perceived as necessary.  Look at the chart or perform the calculation your self.  What appeared to be a true crisis of time is in effect just a small fraction of the time available to accomplish the task.  This exercise will help you get a perspective on time when you are bogged down in a tedious but necessary task.  In addition, the proper amount of time can be allocated to truly important tasks.
 
Finally, step back and look at the importance of the task as if it took place one year ago.  With that perspective, what impact will the completion of the task have on the bottom line?  I am not recommending that workers ignore any task that does not make their personal priority list, but rather that tasks are given a level of importance commensurate with their long term importance.   
 
Yes, haste truly does make waste.  From poor designs, scrapped products, wasted time, and damaged reputations, the consequences run the gamut of tangible and intangible costs.
 
Application:
 
Are you finding yourself or your organization being pressured into the mistakes generated by haste?  Reflect on the quality of your work and how it honors God, look at the relative amount of time required versus the time available and take a long term perspective on the way you use your time.
 
 
 

 

Purchasing Wisdom

18 Items to consider before you make a capital purchase

In these days of outrageous marketing tactics and deceptive sales come ones, it would appear that discerning between fraud and legitimate offers would be an easy task.  Unfortunately, that is not always the case.

 

The crafty company knows to mix enough truth into the offer that will lend strong credibility to the business proposition.  The potential consumer owes it to their company to thoroughly check out the offer before proceeding with a major commitment.

 

The thorough investigation of the potential products and services falls under the category of due diligence responsibilities for the institutional consumer.  Some commonly asked questions and activities required before a significant business to business purchase are as follows:

 Pre-Qualification Questions

• Product sampled and tested in a “real-life” situation
• Product performance meets or exceeds accepted engineering standards
• Product performance meets or exceeds internal company criteria
• Warranty provisions
• Competitive market pricing provided
• Ability to meet delivery criteria
• Determine financial stability of the supplier
• Commitment to support product with parts and engineering support for a minimum period of time
• Training provisions-personal, computer and written programs
• Local support necessary?
• Back up inventory available within specific period of time
• Repair capability
• Willingness to custom program or engineer product changes
• Product history provided – mean time between failures
• Third party references
• UL, CE, or other testing agencies approval
• ISO listings, internal, external quality audit scores provided
• Totally unique product or multiple sources of similar product available

 

These types of criteria help protect the institutional consumer, but what clues can we use to protect ourselves against unscrupulous providers of personal goods and services?

 

Once again research in the area of a potential purchase is an important aspect of avoiding a painful personal decision.  The internet allows us a significant method of comparing features and pricing in many common product categories.  Look closely at features versus pricing in comparable items.  The old cliché that says if it sounds too good to be true, it probably is, holds a great deal of truth.

 

A good example is used automobiles.  You will typically see a correlation between age, miles on the car and brand.  The newer the car and the lower the miles, the higher the price.  High miles on a newer car drives down the cost.  Low miles on an older car will command a higher price than a car the same age, but with more miles on it.  Other aspects such as gas mileage, sound systems and comfort features will demand variations in pricing.

 

Don’t get pushed into the “same day” close tactics employed by many high ticket consumer items.  Most of these methods are used to complete a sale when your emotions are running strongly in favor of ego satisfaction and not the long term cost of credit.  And it is rarely true that “there is only one item left like this.” 

 

Watch for the fine print in contracts which may weigh heavily in favor of the seller.  This is especially true is some financing options, where interest rates can be escalated dramatically in the case of tardiness.

 

We all should know there are physical clues to someone who is malicious in their pursuit of business.  As stated in Proverbs 10:10, “He who winks maliciously causes grief, and a chattering fool comes to grief.”

 

Watch closely for other clues such as a lack of eye contact, absolute statements about the superiority of their product, strong bait and switch tactics, overly emotional appeals and the inability to adequately explain the features of their product.  Look at the physical appearance of their facilities, the individual salespeople, the product brochures, printed forms, and record keeping procedures.

 

I clearly remember being taken by a local attorney in my hometown over a teenage fender bender incident.  Convinced I was in the right, (despite the traffic ticket I received).   I hired a wrong side of the tracks lawyer based on the recommendation of some friends.

 

His office was a disaster of piled up paperwork and dust in a small frame building in the center of town by the railroad freight depot.  His physical appearance was unkempt and he quickly took my case and money.  On the day of the trial he appeared late and unprepared.  The judge quickly found me guilty as charged.  My attorney told me to go to the clerk and plead “nolo contendre” and he would see that the charge did not go on my driving record.  However, what actually took place was that he paid the reduced fine and pocketed the remainder of the fee.  My ignorance of the legal system and poor choice of attorney cost me and the other party involved, money and time.  It also meant higher insurance bills for me, a driving record incident and the sting of legal system distrust generated by the lackadaisical approach used by my lawyer.

 

These examples are just a reminder that it always pays to practice wise purchasing tactics or suffer the consequences.  Therefore, don’t get caught up in the folly of fools by rushing into quick decisions or failing to ask the appropriate questions.  The penalty you bring on yourself will be justly deserved.

 

 

Guiding Principles

 

How many of you are married with children or had brothers and sisters?  I’m sure you noticed the personality differences despite the almost identical upbringing.  Family life closely resembles a scientific experiment without the control factors.  Testing and research prove that certain aspects of our personality are inherited.  Gene research has proved how amazingly similar we all are, but how a little rearranging of the DNA makes us uniquely different.

 

We know by observation and previous studies that people often fall into four distinct personality styles. 

 

1.     Outgoing

2.     Domineering

3.     Perfectionists

4.     Low key

 Let’s accept as a premise that some people have a little leg up in our culture by personality style.  In the business culture that exists, the domineering types and perfectionists tend to do better than the fun loving/outgoing or low key personality types. And yes of course, there are exceptions!  Now let’s complicate the issue by revealing that the primary emotional and learning capabilities we have, are established between the ages of 1 and 5. The most revealing fact here is that you are emotionally established by your environment at a very early age.  

 

Remember the obligatory computer programming course you had to take in High School or College?  G. I. G. O., Garbage In Garbage Out.  It looks like our lifestyle has the same premise.

 

What if we changed the programming to E. I. E. O?   Excellence In Excellence Out.

 

Could that make a difference?          

 

Now we have established that we are pre-wired, but to a large extent we are like a brand-new computer.  The basic operating programs are installed, but the hard drive still has a tremendous capacity for more programs.

 

You may have some obstacles to overcome, or you may have had a tremendously nurturing, joyful childhood.  But the truth is as adults, we all have a choice about how we are going to act.  Some old negative programming can be overwritten with enough diligence.  The human mind has amazing capacity if it is stretched. All of us have a tremendous capability to change if the right energy and discipline is applied.

 

Here is a little tip to help you during a time of transition.  Remember the old remedy for controlling anger?  Count to 10 before you speak?  Think of life’s daily events as an A-B-C event sequence.  Instead of potentially explosive incident A leading to negative reaction C.  Insert the filter B into the thought process.  B is the filtering thought that allows us to consider the consequences of our actions.  That will be one small step in reprogramming our thinking.

 

If we want to develop an internal source of motivation, then I suggest we adopt a model used by many wise individuals and companies.

 

Establish 3-6 guiding principles for your life and develop a mission statement that addresses the goals you have set for yourself.  The principles should be the guiding beacons that direct the mission statement you develop.

 

The principles should be axioms that will not change due to circumstances or time.  Therefore, they are long term value statements on the way to run your life.  Principles should be statements such as:

 

1.     I will treat others with respect, dignity, and deep concern for their wellbeing. (Golden Rule Mentality)

2.     I will always practice truthfulness and integrity.

3.     I will not give my commitment to anything that I cannot or will not keep.

4.     I will give 100% to anything I commit to.

5.     I will practice the highest quality and fairness in all my endeavors.

6.     My primary motivation is a God centered relationship.

 

The principles guide the mission statement.  The mission statements can be short- or long-term goals.  Goals may be actions or activities such as:

 

•        I will earn my MBA within 3-4 years

•        I will lose 15 lbs by years end

•        My company will achieve the agreed upon sales and profitability goals for this fiscal year.

•        My company will earn an ISO 9001 rating within 10 months

•        I will learn enough Spanish to have a working vocabulary within the next 24 months

 

Does it sound too simple to be true, can it really be that easy?  How do you produce a habit, and eliminate old thinking styles?

 

Work hard to eliminate or reduce the old, ingrained thought patterns that had a negative impact on your personal and business life, realizing that they are punitive to you and others around you.  Replace the old self diminishing thoughts with your set of guiding principles.  Print out a copy or jot your principles on a note card and place it in your day timer or wallet.  Read that list of principles before you go to work in the morning, noon and night.  Review your daily conduct considering the principles you have set for yourself. 

 

Strive to correct any conduct deficiencies.

 

Your principles will direct the approach you take to achieve your goals.  Set logical, step by step approaches to the accomplishment of these goals in reasonable time periods.  Check your progress periodically and you will be pleasantly surprised at the accomplishments.

 

In addition to your repetitive review of the guiding principles, try these things to assist with your new internal motivation goal.

 

•        Read books that provide insight into admirable character

•        Sign up for a course in your area of interest

•        Memorize your principles and focus on them to guide your plans

•        Develop a positive, can-do attitude

•        Develop and conduct action-oriented objectives

•        Be aware, your self-value is secure in God’s love, failures are learning events

•        Focus on the important, leave the trivial behind

•        Deeply value relationships 

•        Be other centered

•        Surround yourself with can do people

•        Avoid anger and judgmental thinking

•        Seek out positive personal growth

•        Get a proper diet, rest, and exercise

•        Enjoy life

 

In conclusion, success has three important components:

 

1.     Drive: The internal desire to obtain a goal

2.     Personal focus: The ability to focus on your goals and avoid trivial activities

3.     Discipline: Working through difficult issues that will help us obtain our goals

 

  

 

Apply these principles to build the motivation that will carry you to success in your life. Replace the old with the new and positive.  Remember; you determine your attitude, not life’s circumstances.  Focus on the things within your control and don’t let those outside your control bother you.  Utilize your principles and goals to direct your life to new levels of achievement.

 

Gary D. Seale - MBA

The Trucon Consulting Group

www.truconbd.com

 

Persuasion Power

 

Persuasion Power

 

Statistical research has proven that salespeople have a higher probability of closing business if they:

 

1.     State an overt benefit, specifically and obviously.

This benefit should answer the question; What’s in it for me?  If for no other reason than to know that the competition is fierce for business. Then you must have a differentiating factor to articulate.

When I was in the safety equipment business (A commodity world) the differentiating factor was inventory availability, aid by a computer managed software system. The challenge is for you to brainstorm verifiable differences that separate you from your competitors.

 

2.     Provide a reason to believe that you will deliver on your promises.

Do your research and be able to verify product capabilities, adherence to engineering standards, and provide third party reference, conduct live demonstrations and conduct facility visits. Do not forget to have a quality website, excellent quote packages, technical papers by outside experts, and monitor the trust factor established by the outside sales team.

 

3.     A dramatic difference. How revolutionary and new to the world is your reason to believe?

This may be a point of contention between management and engineering compared to the sales and marketing team. The sales team will frequently be open to full performance revelation in contrast to senior management, engineering, and the legal staff. The management team may be very sensitive to what they have to lose by setting a poor precedent. Whereas sales and marketing tend to see more opportunities in correlation with more openness.

It is important to walk a mile in the shoes of your prospect. Is the information presented going to make a significant difference in performance and cost. What period of time must elapse before a pay back is recognized. What aspects of performance, productivity, and cost reduction can be presented that may not be obvious to the prospect?

These items may separate you as a subject matter expert and seal the agreement. Do not hesitate to write and verbalize your features, advantages and benefits. Continue to repeat them to drive home your differentiating message and for the sake of clarity and closing the business.

 

Gary D. Seale – MBA

Principal – The Trucon Consulting Group, LLC

September 3, 2022