5 Tips to Prioritize your Work

There are times, when each and every work seems like a priority. It looks difficult to figure out where to begin with. All this confusion quite often impacts productivity at the workplace.

Having too many responsibilities at the same time can become stressful. However it is all manageable if you learn to prioritize your work. Check out these tips to prioritize tasks on day-to-day basis:

1. Create a list

First thing in the morning, create a to-do-list of all the tasks that need to be done that day. Rank your work according to their importance or urgency. Ideally, you should put client’s work over internal work. Delaying client’s work may hamper your delivery schedules and hence it should be checked off first.

2. Set realistic targets

When you set your priorities, be realistic. Estimate the time each task will take. Be practical about how much work you can finish within that day or week. Setting unrealistic deadlines will lead to frustration and stress.

3. Don’t be a slave to e-mails

Don’t rush to check your e-mail every time other minute. Mobile devices, iPhones and Blackberry’s have enabled you to carry your office with you. However, they also have ensured that you unintentionally develop a habit of checking your email every few minutes.

Unless you are expecting some urgent mails, do not keep tapping into your inbox frequently. Check your emails at preset regular intervals. Or else not only will your emails take up more of your productive time, they will push other urgent matters behind.

4. Multi-task wisely

Some people like doing a number of things all at the same time. And the result is less productivity because none of your work gets your undivided attention. Multitasking is good but it should not affect quality of work.

Ideally manage different type of tasks in a day but at one time, give your attention to a single task.

5. Tips for managing urgent tasks

How would you handle two equally urgent tasks? Figure out which task will be more time-consuming. Ideally choose the task that will take less time, so that you can finish it off and then focus your mind on the rest of the work.

For the CEO, prioritizing work can become difficult at times. If you are finding it tough to set your priorities, consult with other CEO peers at a CEO peer group or CEO association. In such CEO clubs, you meet experts and other CEOs from non-competing industries.

A CEO club provides an easy atmosphere where you can share your fears with the experts openly and get in-depth insight into dealing with a particular situation.

4 Effective Tips to Improve Internal Communication

Internal communication, an inevitable element of business, needs to be promoted to achieve organizational objectives. While endeavoring to promote internal communication, an organization needs to address three main concerns:

1.      Organizational climate and culture should encourage open communication

2.      There should be clear guidelines about what and how communication (in form of information) will flow within organization.

3.      Organization should have a system to track the effectiveness of flow of communication through different levels of hierarchy.

We suggest some important ways for ensuring seamless internal communication within the organization:

Maintain a sophisticated information distribution system

Every organization requires a sophisticated information distribution system for free flow of information across different strata within it.

Design dedicated channels that are responsible for conveying a message through different operational levels such as finance, production, marketing, distribution and supply, etc. The whole distribution system needs to be supervised to avoid bottlenecks or pitfalls.  

Open climate and culture

Establishing a climate of openness where everyone has the freedom to voice  their opinion in a democratic manner fosters the seamless flow of information through effective internal communication.

The organization should have a system in-place to allow people at different levels to raise their concerns, register their ideas, and share their views against a policy or procedure. Such transparency in an organizational system gives way to an effective internal communication.

Practice what you preach

What you say or promise to your work force should be in harmony with your actions.

For instance, if you promise your sub-ordinates to listen or invite their suggestions while taking a decision, you should have a proper channel to implement the same.

The internal communication will get a hit if your juniors come to see some sudden changes in policies or processes without their consultation or knowing.

Also, ensure that there is no sense of inequality in an organization. Discrimination on the grounds of position, power or personal relationship spreads negativity, a huge hindrance in smooth flow of internal communication.

Problem solving

Since no system is perfect, you should stay vigilant to assess the hindrances or obstacles in the way of effective internal communication. You need to address the questions such as what is favorable atmosphere for internal communication; is there any technical loophole or management issue; or are the right people employed for respective tasks?

For problem solving, take the advice of experienced CEO peers by becoming a member of some reputed CEO association. The Brain Trust CEO peer group in Atlanta provides effective business leadership coaching and CEO training helping CEOs to meet management challenges in every step of business development.

Ignoring Customers Complaints can be Disastrous for Business

“The goal as a company is to have customer service that is not just the best but legendary.”

                 ~ Sam Walton, Founder of Wal-Mart

No matter how big or small your enterprise is, customer complaints are something you can’t avoid completely. From minor to the serious, these are pinpricks you must work towards reducing to the barest minimum.

Recently, Tim Cook, CEO of Apple Inc., had to apologize for warranty issues in China. The apology came in response to the complaints of Chinese customers that U.S. customers receive full replacement for faulty phones while the Chinese customers only get their faulty sets repaired with replacement parts.

According to Apple Insider “Apple on Monday published an open letter from Chief Executive Tim Cook in which he formally apologized for what were described as "misunderstandings" over the company's warranty policies, and revealed new changes that aim to better serve iPhone customers.”

Now check out the changes that Apple Inc. made to its existing polices to retain their customers in China.

·        Modified repair policies for the iPhone 4 and iPhone 4S

·        Published a "concise and clear" statement on its website pertaining to repair and warranty policies

·        Improved supervision and training of Apple Authorized Service providers

·        Now, there is a new feedback service to help customers conveniently contact the company regarding issues or complaints

It gives a clear idea about how bad servicing or customers’ dissatisfaction can lead to dire consequences even for established and strong players like Apple. It is very important for a business to handle dissatisfied customers effectively.  

Here are some vital tips to deal with customer complaints effectively:

·        Listen to the customer’s complaint carefully. Don't give lame excuses. It will only frustrate him more.

·        Enquire about the problem in a concerned and caring manner. Ask for more details. Don’t jump to conclusions.

·        Think from customer’s point of view. As a business owner, you should pacify your customer if you want to retain him. Make him feel that you are on his side and provide some instant solution.

·        Don’t hesitate to apologize. It could be anybody’s mistake but being the leader and face of the company, it’s your responsibility to apologize. You can take some lessons from Apple’s CEO, Tim Cook. It makes big impact when the apology comes from the top of the hierarchy.

·        Consider customer’s suggestion in providing an acceptable solution. Choose the idea that closely matches the one suggested by customer. It will calm down the customer and will send across a positive message to other customers.

·        The most important aspect of handling customer’s complaint is providing a prompt solution that is accepted to the customer. As in Apple’s case, company immediately rectified their repair policies defying which they may lose around 50% percent of their customers in China.

For more insights into this area, you can join a CEO peer group or a CEO association where you will get important guidance and advice regarding every aspect of the business ranging from starting a business, to dealing with issues of customer complaints and even exit planning.

Remember, in business, making mistakes can be dangerous but when you do not rectify mistakes it can be fatal.

7 Tips to Consider while Nominating & Electing Board Members

In my previous blog “Significance and Functions of a Board of Members” I discussed the importance of having board members in an enterprise.  

Here are some suggestions to consider while you look for board members for your company:

Prefer Quality over Quantity

Ability and skills always score over numbers at the board level. Prefer experience and expertise when it comes to choosing board members.

For privately-held start-up enterprises, the number of nominated candidates should range between 3 and 7. Entrepreneurs can reserve one or two seats for investors if they are looking to raise equity from venture capital funds or from private investors.

Seek balanced board experience

Make sure you have a perfect blend of multiple talents and skills when it comes to picking directors for your company. You should prefer individuals with a wide range of specializations – finance, product development, sales, business continuity and employee engagement marketing etc.

It is always advantageous to have board members who have served in one or more for-profit boards.

Hire legal help as needed

It is helpful to have corporate lawyers on board who can attend board meetings as acting secretaries or non-voting corporate counsel.

Get aligned

Make sure all the nominated candidates are aware of company’s business goals, financing objectives, product development priorities and distribution strategies. A candid discussion can help ensure that all nominated members are on the same page and do not have any issues pertaining to the policies of the enterprise.

Use ‘em or lose ‘em.

It’s the founding entrepreneur who can utilize each board member’s skills and specialization to the maximum effect. When great business brains join a board, they need freedom of thought and action to put their knowledge to maximum use.

Let them explore their productive ideas for the growth of company albeit things should never go beyond your own vision and control.

New businesses need experienced advisers

 It is a mandate for new business and small businesses to have astute business advisers as their board members. Their experience and sharp business acumen will play a vital role in improving company’s operating direction.

Corporate Executive Coaching

Corporate Executive Coaching at a CEO club helps you identify your needs when form a Board of Members. As you get to meet different experienced and knowledgeable leaders at CEO associations, you can get insight into basics of nominating and electing eligible board members.  Join a reputed CEO peer group especially if you are starting-up a new business and need practical tips on how to build a performing, useful Board of Directors.