January is always a great month – it signifies new beginnings, a fresh start and excitement about possibilities of the New Year! Yes, this is an exciting year, even if the media and the stock market continue to indicate differently. Turbulent times provide tremendous opportunities depending on your perspective!

Perspective is a powerful force in how we manage our business and our lives. Do you see the glass half empty or half full? Based upon how you see the glass, you are either an optimist or a pessimist. Today, our perspectives are being bombarded continually by 24/7 information. However, in that fevered pitch, ask yourself about your perspective. Do you have an RE perspective or EX perspective?

RE is a Latin prefix meaning “again, back”.

EX is a Latin prefix meaning “out, beyond, forth”.

Here is a simple test to see if your perspective is more RE dominate or EX dominate.

When you think about your business or your life, which column best describes your perspective?

RE                EX

Review                Explore

Reevaluate            Expand

Reengineer            Extend

Recommit            Excite

Rework                Experience

Recover            Express

Resolve                Explain

Retain                Exercise

Refocus                Execution

Rebound            Excellence

Did you lean more toward the RE dominate or the EX dominate?

Just like the glass, you can continue to rework your business looking backwards with an RE perspective or you can expand your business with an EX perspective.

The opportunity for expansion occurs when we abandon our RE mindset and move forward into powerful EX thinking. Now is the time for innovative exercise, creative expression and expansion of thought. History has shown that great expansion occurs in great challenges.

Here is a great opportunity for you to begin your New Year embracing a new EX. An EX that hits the spot! An EX that guides your business to new levels of excitement, expression, execution and expansion! Have an excellent January!

“We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called Opportunity and its first chapter is New Year’s Day.” Edith Lovejoy Pierce

2009 marks the beginning of a new era for business as we know it. The days of incremental improvement, hit or miss execution and a reluctance to maintain relevancy have come to a harsh and painful halt. We are entering a period of profound business transformation. In this period of transformation, there are many new growth opportunities for those individuals and companies willing and open to innovation and expansion.

In this time of transformation there are many factors that will influence our lives and businesses over next several years, including:

1. Increased unemployment, particularly among white collar baby boomers.

    

2. Emergence of Generation Y en mass in the workforce and marketplace.

    

3. Continued expansion of women-owned and minority-owned businesses.

    

4. Continued growth in franchise development, even with capital limitations.

    

5. Implications from the Macro – Economic Environment.

    

6. More wide spread acceptance of the integration of technology in business.

Independently, any one of these factors can be perceived positively or negatively. The real opportunity is how you can leverage these factors in your business in new and innovative ways. The collective convergence of these factors also has the potential to create new paradigms for business. In this time of transformation, there are exciting opportunities to create new ways of doing business to address the needs of the marketplace. There are also excellent opportunities to leverage new opportunities in your career path too!

The New Year brings each of us a tremendous opportunity to transform our business and our lives. We can choose to write new words in the “book of the New Year” and engage in the new way of doing business.

As the New Year begins, take advantage of the opportunity to transform your business and your career to paraphrase Edith Pierce Lovejoy, “open your Book of Opportunity to the blank pages in the first chapter and fill it with your new words of success and transformation.”

It is easy to get drawn in by the slippery slope of the economy and every day, more and more people and businesses are affected.

 How can you prevent the harsh reality of these challenging times from seeping into your skin? How can you continue to focus on growing a healthy business in these tough times?

 The answer isn’t a simple one. The answer doesn’t lay some instant “fix-it-right-now” reality.

 You can take steps to stay on track and focus on the here and now. You can make a commitment to your business and self and find solutions that deliver long-term results.

 You cannot get swept into worrying about how the times are affecting you. You cannot sit and wait for the other shoe to drop.

 Worrying about things that you cannot control binds you and limits you. Worrying about what is happening next can become a substitute for a solid action plan and can prevent you from taking the steps you need to take right here and now!

 Worry creeps into you and paralyzes you.

Paul J. Meyer writes in his article, “Making the Choice Not To Worry,” (Success Magazine, March 27, 2008):

 “More damage is done by worrying than by what is being worried about. This is because 90 percent of all worries never come to pass.

 Here are a few of the side effects of worrying:

Self-doubt – It is a downward spiral that focuses on the negative and why things cannot be done versus why things can be done. It is a sinkhole, a debilitating attitude, and a terrible habit.

Mediocrity – Capable people who worry are rendered incapable of accomplishing their intended goal. Worry makes you peck around on the ground like a chicken when you were intended to soar like an eagle.

Fright – People who worry are not being cautious or thinking things over; they are simply scared. Running scared is the enemy of success, peace, contentment, happiness, joy, and laughter.

No spark – The excitement is gone. Worry lets the air out of all you do, draining the fun and excitement from everything.

No creativity – The freedom to be creative is squelched by worry. You simply cannot excel to your full potential when worry controls your thoughts.

Improper shaping – You are molded and shaped by your thinking, and worries should not shape your future.

Hazy results – Those who worry are second-guessing themselves, which produces a hesitancy that brings with it an unclear focus. Such a hazy goal will produce a hazy result.

Bad habits – Worrying is a habit, the result of preconditioning and years of practice. The destructive habit of worrying turns people into prisoners.

Physical ailments – The body reacts adversely to internal worries. John Edmund Haggai insightfully stated, “A distraught mind inevitably leads to a deteriorated body.”

Wasted time – Over 90 percent of what you worry about never comes to pass. To worry is to waste time; therefore, the more you worry, the less you accomplish.

Make the decision for yourself to live life worry-free. It is not only possible, but it is also very enjoyable! “
 If you are interested in accelerating your company and its growth during these “worrisome” times, contact Kathleen Wood Partners, LLC at Kathleen@kwoodpartners.com

Many of the life lessons I learned while bussing tables through the Friday rush still hold true today and after I read this piece by Micheal Barrier about Wolfgang Puck in Success Magazine (May 5, 2008), I felt like I am not the only one who has found ingredients for success and strong leadership from within the hospitality industry.

For me, and maybe for you, I never forget those early days in my career and the lessons I learned there have given me a powerful tool to become a strong leader and life-long learner.

In the following article, culinary leader and chef-icon Wolfgang Puck really drives home five principles for success that can be applied to any industry.

“Before he became a household name with a multi-million dollar culinary empire, Wolfgang Puck was fledging chef with dreams of owning his own restaurant. Due in no small part to hard work and relentless dedication to the highest quality product, Puck polished a sterling brand identity and forged key business practices that can be applied to a variety of industries.

Learn from the legend on what it takes to be top chef, or boardroom chief, through his five principles for success.

1. Find the Best People, Create the Best Team. With his ever expanding empire, Puck can’t be everywhere at once. “We want to create a feeling, when people come to dinner, that if I’m there it’s a plus. But even if I’m not there it has to be a good experience.

2. Only Allow Room For Improvement. “We’ve tried to be good–and only go up from there. If we’d stayed at the same level 10 years ago, we might not have made a run at it. We added more expensive dishes and better ingredients and the restaurants thrived.”

3. Focus on Your Passion, But Find Your Balance. Puck still gets his greatest satisfaction from being in the kitchen. But that doesn’t mean he’s there 24/7. “I think being successful means having balance. Since last year, [I'm] really working on how I can get a more balanced life. Otherwise, in the end, you work for nothing.

4. Embrace the Ups and Downs. Becoming a highly sought after celebrity chef isn’t without its toils and frustration. “I learned more from the one restaurant that didn’t work than from all the ones that were successes.” When you view your losses objectively, you can avoid future pitfalls and channel motivation for further success.

5. Pay Your Dues. “Young people want to be famous before they know how to cook, before they know how to treat people, before they know what hospitality means.” Finding sustainable success means letting go of your sense of entitlement. When Puck came to the U.S., no one was knocking on his door with offers of running a five-star restaurant. It took long hours and serious dedication to acquire the skills and expertise needed to stay afloat in a very fickle industry. Take your lessons with gratitude and roll with the punches. It makes for one very appetizing success story”

In today’s chaotic environment, you can’t pick up the paper, flip through a magazine or turn on your TV without being bombarded with some new crisis in the economy or the challenges of consumer spending. The end doesn’t seem to be in sight and it appears that things are in a permanent downward spiral.

Here are five simple ways to begin turning the tide against the never-ending challenges of today’s economy and create opportunities for success!

Listen to Your Customers
The more you hear what your customers are really saying, the more you understand them and the more loyalty you create.  Personally connect with your customers by asking them what you are doing well and what you need to improve. Inviting customers to be part of the solution allows guests to invest in your success. Offer guests a free appetizer or other incentive for participating in a “customer roundtable.”

Investing in your customers and your community creates consumer loyalty. Support local groups and become involved in your community allows you to help others and the investment of your time and resources becomes a benefit not only to your business, but to your customer base as well.

Innovate
Don’t be afraid to embrace change. Turn your slowest times into productive times through mid-morning or late afternoon specials.  Maximize tough day parts with value added opportunities like a Kid’s Night or an Early Bird Special.

Invest in your people
Strong operations are the best marketing. Be picky in your hiring practices. Resolve to hire the best, train the best and lead your team to excellence. Your customers deserve a valuable experience, not just a value price!  Great service is the key to creating a great experience every time.

Inspire Excellence in Operations
By striving to always deliver your best in operations, you beat the competition focused on the best price.
Remember a clean restaurant combined with happy and well trained servers and good food at a fair price, plus unique ambience equals a great customer experience every time!  Delivering each of these will allow your sales to grow!

Break out of “Old School” Thinking
Stop talking and start listening to what your customers and employees are telling you.  These are different times and require different thinking. It is not about being right; it’s about being here next year in your successful business.

In difficult times, it is easy to become caught up in the day-to-day struggle to survive.  Instead of surviving, look for ways to succeed. Look for opportunity.  Even in today’s chaotic times, success stories are out there! They are succeeding by new ways of doing their business and are not afraid to take their business to a whole new level.  They are choosing to win in today’s challenging marketplace.

If you are interested in learning more about accelerating your company during chaotic times, contact Kathleen Wood Partners, LLC at Kathleen@kwoodpartners.com.

Read it again. Yes, there are still opportunities for growth!  The Chinese have a symbol that represents great crisis and great opportunity.

I believe this symbol is a perfect illustration of where we are today. We can sit back and stagnate as the media tells us that our world is going to hell in a hand basket or we can stand up, innovate and start taking back control.

Ray Kroc, the founder of McDonald’s, once said, “The only way to control your destiny is to create your destiny.” Has anybody been watching McDonald’s lately? Anybody remember a few years ago when everyone thought they were going under? What was McDonald’s response? From an outside perspective, the two key components were a focus on executing the fundamentals and product innovation. Do you remember any of their great innovative ideas? The McGriddle, for one, was genius!

Remember Apple a few years ago? They were going under too! Then a little product came out called the Ipod! It’s amazing how everything “I” is catapulting its business.

You can say, “Hey, I know I’m not a very creative person, so how can I innovate anything?” I say, “Hey, it is not about being creative. It is about viewing your situation differently and letting go of ideas that are no longer moving you forward!”

Here is how you innovate:

1. Start Building Sales to Offset Rising Costs.
   1. Go old school – start asking your customers what they want!
      What would make them visit you more frequently?
      Ask them what they like and don’t like about your menu.
   2. Go new school – start using the internet!
      Do you know what Yelp is? Use it!
      Do you know what Trip Advisor is? Use it!
2. Focus on the Fundamentals of Execution
   1. Customers are looking for the same thing they always wanted – Service, Quality, Value and
      Cleanliness! This has not changed since the beginning of time.
   2. Assess your fundamentals – ask your friends to help assess your fundamentals.
   3. Be honest with yourself. Are you really delivering value to your customers? Are you really differentiating yourself in the marketplace?
3. Leverage your Network for Building Sales
   1. What are you doing in your area to connect with:
      1. Schools
      2. Associations
      3. Places of Worship
      4. Clubs and Rec. Centers
   2. Are you proactive in:
      1. Building Sales by creating special deals
      2. Speaking at events to promote your business
      3. Making Donations in return for promotional placements
   3. Are you networking with other businesses in your area to:
      1. Create mutually beneficial opportunities for special offers
      2. Create opportunities for cross promotion
      3. Create in-kind trades to offer your customers and employees
4. Pay more attention to your competitors
   1. How are they innovating?
      1. Do they have new products?
      2. Do they have new offers?
      3. Are they improving on their fundamentals?
   2. How is their business doing? Are you seeing your customers at their businesses?
   3. Do you have new competitors in your marketplace that offer something bigger, better and of more value than what you are offering?
   4. Can you offer something that your competitors do not offer? Look at Dunkin Donuts and its success with coffee. Look at Starbuck’s with oatmeal.
5. Reach out for support!
   It takes a team in turbulent times! What would you rather say, “Yes, I am proud I did it all by myself. I learned a lot; and even though it failed, I will know better next time.” Or “It was more important that my business succeed, so I moved my pride and ego to the side. It was the best thing I ever did, because I learned a lot and saved my company in the process.”

Successful people have teams. Successful people ask for help. Successful people are focused on success, not proving they can do it all themselves.

You can find support in all sorts of places:

1. Local Chamber of Commerce
2. Small Business Association (SBA)
3. Business Associations
4. Internet
5. Consultants

The definition of insanity is continuing to do the same thing over and over again and expecting different results. We have a choice to make, either be paralyzed by 24/7 bad news or stop the insanity! I know this is one vote for me that is easy to cast. I vote for stopping for the insanity! How do we it? We stop stagnating and we start innovating!

Plant the Seeds of Success for You and Your Business

Kathleen Wood is a nationally recognized business strategist, motivational speaker and author. Throughout her career, Kathleen has developed proven strategies to help take leaders and businesses to the next level of success. Her consulting practice, Kathleen Wood Partners, LLC provides growth strategies to accelerate growth and profits, often times measured in months, not years.

Her leadership and consulting career includes working with the Fortune 500, INC 1000, founders and entrepreneurs. If you have any questions, please contact kathleen@kwoodpartners.com or call her at (562) 852-5252 for a consultation.

I’ll be using this blog to announce updates, upcoming seminars and events at Kathleen Wood Partners as well as introduce news on growth strategies and leadership that I think you should know about. This blog will show the latest trends and insights on the industry from my perspective.

Take a look around both site and blog and let me know what you think. I’m always looking for feedback and great tips from you to share with other interested leaders and businesses. If you have a question about how to grow your business to the next level, try Ask Kathleen.

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