OOC = OOB

 Culture  No Responses »
Mar 312011
 

Cash is important in every business.  Cash is EVERYTHING for bootstrapped SME’s. I doubt anyone cares about the huge profit projected for the end of the year if you can’t make payroll next week.  Out of Cash = Out of Business (OOC = OOB) 

OOC = OOB is a lesson I learnt from a bloke called ‘Poli’.  Poli is an accounting lecturer who tells it how it is.  No cash = no business.  It doesn’t get much simpler than that.

Since that heady day way back in 2010(!) when Poli taught me this gem, I’ve had a daily cash report for The Physio Co at my finger tips every morning.  Not once a week or once a month, every single day.  

It’s so straight forward that a trusty TPC bookkeeper gets to work, checks the bank balances and plots them on a very simple spreadsheet.  Where do we store the report, in the cloud of course!  I can access it from almost anywhere.

A daily cash report combined with cashflow projections helps me grow our business fast with much less concern about ever being OOB.  If you are a CEO or responsible for business performance, I reckon you should monitor your cash daily. 

Gears. Leaders need to know which gear to choose.

 Culture  No Responses »
Mar 302011
 

The Physio Co has been growing fast for the past seven years.  As the CEO, it’s my job to always be one step ahead.  That means my average speed has to be faster than The Physio Co.  But as a leader, I also have to be able to ‘change gears’.  

When our team is aligned, we are moving fast and getting heaps of work done, I’ll be in top gear too. But when there is even a hint of a speed bump, I slow right down..

Moving at a slower pace when there is a problem helps me understand the challenge and make the right decision(s). Slowing down and taking time to listen to my team, our clients and our suppliers as if I have all the time in the world (even when I could be doing 1000 other things) is how I do it.

As a leader, it’s my job to be across everything and make good judgement calls.  I don’t think this is possible when flying along in fifth gear. First or second is where you’ll find me in tricky times.

Do you have gears? Do you know when to use them?

Getting results over the phone. You’ve gotta wanna..

 Culture  No Responses »
Mar 292011
 

When I pick up the phone, there is always a reason for making the call. I either want to learn something or I want to make something happen.  It’s that simple.  I have a purpose for every phone call and I plan to get that result, everytime.  Is this the same for you?

Today I realised that not everyone is as focussed as this.  It seems there are plenty of phone calls and conversations that don’t achieve much.  What a waste of time! 

Why pick up the phone if you don’t have a clear purpose?  Even worse, why start a conversation that you expect to get no result from (eg – calling someone and expecting them not to answer and not to call you back).

Don’t get me wrong, I’ve made plenty of calls where the person at the other end can’t or won’t make a decision and their approach is to not return my call.  But I don’t let them get away with it.  I call the person that sits next to them, I call their assistant, I call their boss, I’d even call their mum if I thought it would help!

Time is precious.  Decide what you need and then make it happen. One effective conversation at a time.

Two or three monitors for everyone. Do it!

 Culture  No Responses »
Mar 282011
 

Do you have two monitors on every computer at your work? Perhaps you should? We’ve been doing it at The Physio Co for the last couple of years. Our team loves them and it’s one of the cheapest ways for all of us to be more effective.

Why do we pay twice as much for monitors than we used to?  Because it saves time! Think of all the minutes in the day you wait for a new window to open or close.  Now multiply this by the 5 days in every week and the 40+ weeks of every year.  That’s a lot of time spent waiting.  

An LCD screen costs no more than $200-$300 and will last a few years.  For us, it’s money very well spent. Give it some thought…

Listening. Here’s how to nail it. Pt 1..

 Culture  No Responses »
Mar 212011
 

Listening is undervalued. Compared to being a powerful speaker or writer it doesn’t sound sexy to be known as ‘a great listener’. But it’s much more important than many people think.

From what I’ve learnt, there are three R’s to becoming a great listener..

1. Receive

  To understand it, you have to hear it.  Be still. Wait. Nod. Take notes. Don’t interrupt.  Focus on what the other person is saying (stop thinking about what you will do or say next. Focus on receiving.)

2. Reflect

Think about what you’re hearing.  Make sense of it.  Ask clarifying questions. 

3. Rephrase

Put what you’re hearing into your own words to make sure you understand it.  Ask if your rephrased version is what you were supposed to be hearing.  Give the other person a chance to correct you.  Take the time to get it right together.

Listening deserves a lot more time than it gets.  Stay tuned, I’m planning on making listening sexy!    

List of things ‘not-to-do’

 Culture  No Responses »
Mar 202011
 

A list of things ‘not-to-do’ is a super effective way to get more done.

I have some bad habits.  You know, stuff I choose to do when I should be getting real work done.  A not-to-do list helps me focus.  It includes all the stuff that distracts me. The stuff I should not do.

If you want to be more efficient and get more done.  Consider starting a ‘not-to-do’ list today.  It will take less than 5 mins to make and could save you hours everyday.

A few things from my list that might get you started:

  • Don’t eat lunch on the job.  A short break and fresh air helps me focus.
  • Don’t check email more than 2 x day. If something urgent is happening, I’ll get a call.
  • Don’t be constantly logged in to facebook. You can lose hours on FB, Again, if something urgent is happening, I’ll get a call.
  • Don’t agree to meetings or calls without an agenda.  A clear objective and a planned duration of less than 30 mins is best for me.

My no-to-do list works.  But it’s taken a lot of discipline.  Just like sharing your dreams, sharing your not-to-do list with your boss or workmate might help you stick to it. Start today and if you make it work, I promise you’ll find at least any extra hour in every day. 

NB – Unlike a to-do list, you don’t need a new not-to-do list everyday.  One not-to-do list may just do for the next 5 years.   

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