Companies Are Burning Money: Are You?

Burning Money 3

Ever been to a boring business dinner — a night of one uninspiring speech after another? Are you nodding your head? Though someone’s time and attention are valuable commodities, these “commodities” are routinely wasted. For corporate America, this is burning money.

Companies and nonprofits too often fail to capitalize on the value of better speaking. Top executives routinely overrate their speaking skill and no subordinate is about to tell them otherwise. A fortune has been invested in high-priced, brand-name firms who deliver cookie-cutter presentation training that has left us with the same problem — boring dinners and boring meetings.

Being interesting is a skill and that skill will make you more money. Too often, speakers focus on what they care about instead of what their audience cares about. They provide too much detail and too little relevance. They read too often when their approach should be conversational. We get far too much blah, blah, blah instead of passion and enthusiasm. The result is lost opportunity and lost business. It’s burning money.

Mark Grimm is a former TV news anchor who has conducted hundreds of seminars and does one-on-one coaching. He will share the secret of being interesting with you….or you can keep burning money. 

The Secrets to Embracing Change

A Labor Department study estimates about 65% of current grade schoolers will work in a job that does not yet exist. Change is a constant and resisting it is futile and often damaging.

So how do we make change work for us and our company?

The right formula begins with thoughtful management that has a “change strategy.” Managers must include the following:

  • Authorship
    Allow employees to have authorship of the change, instead of imposing it on them. There’s a big difference between “this is what you have to do” versus “these are our goals, how can you make them happen?”
  • Clarity
    The need for the change must be made clear and there can’t be anything vague about the answer to this employee question? “How does this benefit me?” Provide an ongoing dialogue on how the change is working.
  • Benchmark Proof
    Share evidence along the way the change is working. Proof trumps promises every time.
  • Message & Compensation Match
    It is one thing to say this is important, it’s another to back it up with employee compensation. Nothing undercuts change more than a failure to put your money where your mouth is.

The Risk of No Change

For those who feel the status quo is serving their interests well, not changing has its risks. Just 61 companies in the Fortune 500 in 2014 were on the list in 1955, nearly 90% are no longer there. Kodak had about 62,000 employees in the Rochester area in 1982. It filed for bankruptcy in 2012 with just over 2,000 employees there. Though it invented digital photography back in 1976, it got shelved because Kodak film was the standard. As one writer put it, Kodak’s unraveling was “not because the company didn’t have the technology to compete in the new era but because it lacked the vision to use it.”

You Have A Choice

Poor management is no excuse for a poor attitude. You have a choice on how to respond. You can close your mind or you can make the most of the cards you’re dealt, often turning anxiety into opportunity.

The founder of Minds at Work, Jason Clarke, says, “You can keep things the same or you can make a difference, but you cannot do both.” Though change may bring anxiety, never underestimate what you are capable of. Michael Jordan got cut from his high school basketball team.

You’re more amazing than you think.

The writer conducts keynotes and seminars on more than 20 business organizational and communication topics. Don’t hesitate to contact him for help: 518.650.5096.