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You are here: Home / The Achiever Blog

3 steps to great decision making

June 21, 2018 by Malcolm Gallagher Leave a Comment

You want to make the right quality and timely decisions. You can’t afford to wait and see. So your decisions need to have velocity alongside quality.

I was intrigued to read recently that the Consultants, McKinsey, said that businesses who make decisions well use 3 ingredients. How are you performing in all of the following 3?

McKinsey found first of all that winners use SPEED as part of their process. Those winners will often make a decision with just 80% of the necessary information rather than waiting for it all and possibly lose out to a competitor.

Its sensible here, as the business leader, to identify what decisions ONLY YOU can make and delegate the rest. Make sure your decision process allows you to move good ideas forward quickly.

The second ingredient of decision winners, says McKinsey, is that they favour interaction amongst themselves over the process of deep analysis. Good interaction sparks off great ideas and it also has the extra benefit of heading off biases with the result that everyone is in tune together.

And the third ingredient is to what they call “Choreograph the decision process”. Hey, if you have been to a stage show or even watched Strictly Come Dancing you know how effective and impressive good choreography can be. Without choreography, your decision making could become turgid with countless reviews and approvals. Craft it so the decision process is made in one place.

So that’s a brief look at a key soft skill of decision making. Sharpen your process now and you’ll be more fit to compete for any business opportunity. Are you using all 3 steps?

Filed Under: Uncategorized Tagged With: Malcolm Gallagher

Ready for business growth? 6 key questions

June 20, 2018 by Malcolm Gallagher Leave a Comment

Ask yourself these 6 key questions to see if your timing is right for growth

says, Malcolm Gallagher of BizVision,

A key question at the moment should be “Is your business ready to grow”? Irrespective of what is happening in the bigger “Brexit” picture at the moment. In growth,  timing is crucial.

You need to decide if your business is in what I call a sensible position to journey on a growth strategy. To help you make this decision, coming up are just 6 deep dive questions to ask yourself.

  1. How is your business performing against your budget in sales, and costs? I hope you are using some key ratios here. If not then email me mg@bizvision.co.uk and I’ll send you the top 3 ratios for small businesses
  2. Thinking of your available resources, how is your business using those resources to generate profit? Or is it not? Sometimes resources such as assets are bought and they lie unused or underutilised. Also, have you sold off old equipment (say on eBay)) – a few pounds is better than nothing
  3. Is your market sector expanding or contracting? Or where is it changing? We have seen horror stories about retailers recently and problems about construction businesses. But these changes usually mean there is opportunity elsewhere. Are you missing it? Is your radar working to seek out opportunities?
  4. How are your competitors behaving? Rationally or not? What are they saying publicly? If you don’t know, you need to start what I call a Comp Set. Take your top 5 competitors and monitor them, benchmark your elf against them, keep a watch for news on their website with RSS feeds or use services such as Mention.com or Talkwalker.com to get a hold of what they are both saying and doing.
  5. Ask yourself the truthful question of how much cash have you got that is readily available to fund growth. Likely it is not enough so you need to go searching for funding. Do it soon not last minute.
  6. How well do you use your working capital? Funders will want to know but you should know this NOW not when you want more money.

Okay, there’s your six key questions to get you truly ready for growth. Armed with the answers you can make your growth decision. Which are the most relevant to you? Have I missed any key ones?

 

Filed Under: Uncategorized Tagged With: Bizvision, Business Growth, Malcolm Gallagher

Do you have these 4 core attributes to be a great supplier?

September 5, 2016 by Malcolm Gallagher Leave a Comment

wholesale-distribution

How do you score on the supplier four?

Over the last few years we’ve had some frenetic activity at The Preferred Supplier with our programmes and presentations, filming of buyers and coaching on tendering. But one thing has arisen a number of times.

I’ve been by asked many what I think are the essential attributes of a great supplier. I’m not talking skills, resources or facilities here but instead the spine or the core that gives form to the selected or differentiated supplier.

My suggestion to you is that the difference lies in the four core areas of CRIC – Committed, Resilient, Innovative and Compliant.

Here’s a brief overview of each of the 4 parts of CRIC. Read through and think how they apply to you and how you score with each of the four.

Committed is about a commitment to continuous improvement and the ability to be evidential about that improvement. Now, wrapped up in this is commitment to quality, commitment to consistency and commitment to customer service. It’s also about “keeping your promise to your customer” such as commitment to delivery on time. Far too many suppliers reckon they are committed to say quality because they have ISO qualification but forget that it is daily living that commitment that sets the excellent apart from the average. You can measure yourself and be evidential in your commitment by asking us about The Preferred Supplier balanced scorecard.

Resilience was something addressed by Nick Edgar, of IP Group who are fund managers, when speaking at our The Preferred Supplier event. Resilience is not totally internal, for example about your financial strength, but also external about resilience within your own supply chain and the market your serve. Start thinking, how strong and reliable are your suppliers because that’s what your customer is likely also thinking if they are to select you?

Innovative is to-day becoming an abused word! My friend, Charles Sellers, is an acclaimed expert on innovation and passionate about the need to start thinking just what is true innovation. When I talk about innovative actions he makes me think if it is truly innovative by asking which of these three things can be said about the innovation. Is it the same as, similar too or different than?  I can’t stress how important innovation is in being the preferred supplier but, at the same time, it has to be true innovation.

Compliance is something far too many suppliers hope will go away – but it won’t! A recent CIPS survey showed that 54% of companies expect compliance demands to increase this coming year with only 2% thinking it will decline. But compliance is an all-embracing word. Compliance in what? It differs across company, organisation and sector but don’t ignore the essentials of inclusion, environmental and health and safety.

CRIC is my core four attributes or make-up of a selected or preferred supplier. Have I missed anything truly essential? How do you measure up to the four? Where is your biggest challenge?

Filed Under: Uncategorized

How to make your meetings more productive

September 5, 2016 by Malcolm Gallagher Leave a Comment

meetings1

7 Change Maker ways to improve meetings

One area where you can make quick and productive change in your organisation, and show your leadership as a Change Maker, is to make your team meetings more effective and productive. Coming up are my suggested 7 steps check-list to help you achieve this.

A few smart changes can result in meetings that get more done more quickly and cause fewer headaches for everyone.

How to be a Meeting Change Maker? Here are 7 practical action steps:

  1. If the meeting has no clear purpose, don’t have it! It’s amazing how many meetings are held because they’ve always been held. The biggest culprits are those “same day, same time” sessions that people have carved into their calendars. For every meeting, try to come up with a compelling statement that describes the purpose, and identify at least one intended outcome. If nothing worthwhile seems to surface, the same will happen during the session.
  2. Take the agenda seriously, but not too seriously. There are times when digressions are worthwhile and when certain issues should move up in priority. It’s a fine call every time, but sometimes that fixed agenda has to go out the window.
  3. Don’t use meetings to rubber-stamp decisions. Often teams come together and try to pretend a group decision when they’ve already “pre-decided” the outcome. If you simply want to communicate information, save everyone’s time and use e-mail.
  4. Strive for meaningful dialogue. When six people are around a meeting table, it’s like having six computers at the ready. In fact, people are far better than computers because they also have hearts. Instead of “leading” the meeting, learn to facilitate the session. Instead of making statements, ask questions. Instead of raising objections, ask more questions.
  5. Be your own constructive critic. Are you talking too much? Are you holding back? Are you listening to understand? What would you say about you if you were sitting across the table from yourself?
  6. Wrap up each meeting with a group evaluation. With everyone contributing, decide what went right during the session, what could’ve gone better, and what should be done differently the next time. Commit to one or two practical improvements.
  7. Cut down on those meeting minutes. An hour-long meeting should yield a page or two of notes at the most, and these should be circulated no more than two days after the meeting. Use them to keep track of major discussion points, decisions, and assignments.

Have you any extra tips to add to the checklist? What works for you? How do you avoid time-wasting meetings?

Filed Under: Uncategorized

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Nice People Saying Nice Things!

September Twelfth Author Dean Rotbart says;


Dean Rotbart on BV-TV Todays Leader Show
What a delightful conversation. Thank you for inviting me on BVTV.
I have interviewed many thousands and been interviewed by hundreds.
You are one of the best!

Dean Rotbart www.september-twelfth.com Guest on BVTV Today's Leader Channel

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Helen Yu testimonial about BVTVhttp://www.tigonadvisory.com Malcolm, thank you for the impeccable experience you provided, from the welcome pack to the ShoutOut video and the post-production follow-ups. I look forward to returning to your show!

Helen Yu www.tigonadvisory.com Guest on BVTV Today's Leader Channel

The Vision Code author Dr. Oleg Konovalov says;

Dr IOleg Konovalov testimonialI’m grateful to Malcolm Gallagher for the very engaging conversation and exceptional experience collaborating together. BizVision is not about being interviewed, it is about collaborating with Malcolm in value creation for the listeners. Thank you, Malcolm! http://www.olegkonovalov.com

Dr. Oleg Konovalov www.olegkonovalov.com BVTV Guest on Today's Leader Channel

Isaac Mostovicz -Art of Questioning – says;

Isaac Mostovicz guested on BVTV Today's Leader ShiwMalcolm thank you for this endorsement. I really don't know what happened! Your post of me was on air for less than a day and gained over 9000 views in that short time. Also, the number of people checking my profile went up substantially. I'll stay in touch. It was a great experience!

Isaac Mostovicz www.isaacmostovicz.com Interviewed Guest on BVTV Today's Leader Channel

Canon Keith Madeley MBE from The Cones Books says;

Keith Madeley MBE guested on BVTV at BizVision.co.ukI am so pleased I was introduced to Malcolm. He is a true professional and an amazing interviewer on his BVTV. He immediately puts the interviewee at ease but has already studied your subject matter enabling him to draw out the relevant points and emphasize the major facts. The whole service is so professional from start to finish with his studio promoting your subject.Aa true professional.http://www.theconesbooks.co.uk

Canon Keith Madeley MBE www.theconesbooks.co.uk Guest on BVTV

Mario Tamayo, co-author of “Work Made Fun Gets Done” says;

Mario Tamayo was a guest on BVTV at BizVision.co.ukMalcolm, your facilitating & interviewing skills, overall demeanor, and editing are outstanding. Overall, I am very pleased with the result.  It was great to meet you, and it was a lot of fun. www.tamayogroup.com

Mario Tamayo www.tamayogroup.com BV-TV Guest on Today's Leader Channel

Roth Read Photography

Lincoln Roth & Perrin Read on BVTVLincoln Roth & Perrid Read said: Thank you so much for inviting us to be your guests on BVTV Network! You really have a wonderful talent for putting people at their ease and supporting them every step of the way (right from the first email to the last words). We are incredibly grateful for the time you spent with us - we had a blast!

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