I would never have purchased the book Getting Naked: A Business Fable About Shedding The Three Fears That Sabotage Client Loyalty by Patrick Lencioni, as the title does not speak to me and I was not familiar with Mr. Lencioni’s previous work. However in early November, I had the pleasure of hearing him speak. As I listened, I found myself challenged, aligned and ready to read anything Mr. Lencioni had written.
The essence of the book is about being vulnerable. Sounds simple enough. I certainly think of myself as an authentic person, willing to be real and vulnerable. Yet in business and in life, being vulnerable can be challenging for many people. Sometimes it requires that we admit to our lack of knowledge and our mistakes. It might also mean we have to tell the truth when a white lie would be much easier. It can also mean turning a client away when you are not the right fit.
In Getting Naked, Mr. Lencioni describes three fears we must walk through to deliver naked service:
Fear of Losing the Business - Worrying about losing a client's business may cause service providers and consultants to avoid the very things that ultimately engender trust and loyalty.
Fear of Being Embarrassed - Rooted in pride, this fear can lead service providers to withhold their best ideas from clients.
Fear of Feeling Inferior - To avoid feeling irrelevant or being overlooked, consultants try to achieve and preserve a high level of importance in clients' minds.
As he spoke about the fear of losing the business, I remembered my own experience:
An acquaintance called and asked me if I would work with her mother. I agreed. Both mother and daughter came to the appointment. After only fifteen minutes, I was clear that the daughter really wanted me to help her mother. And I was equally clear that what her mother really needed was to work with her local banker, someone she dearly trusted and with whom she felt safe.
At the end of our conversation, I looked at the mother, who had been sitting next to me with her arms crossed and with a scowling look on her face the entire meeting, and said, “I hear that the money you have is really important to you as a safety net. I also understand you want to use this money for special things in life, and you do not need it for everyday living. As you have spoken, it seems clear that you really trust your local banker, so I am curious as to why you would not continue to work with your banker.” Surprised, she relaxed, smiled and said, “Do you really think I should work with my banker?” “Yes,” I replied.
She told me how much she appreciated our meeting and gave me a big hug. She left my office with a clear plan on how to work with her banker. As she was leaving, she asked me what she owed me for our time today. “No charge” I replied.
The mother came to see me to make her daughter happy. I know that we could have done a great job for the mother, except that she wanted something else: to work with her banker. This meeting did not earn me any new business or revenue. Yet what I gained was priceless. I went to sleep that night knowing I had done the right thing. I had been willing to listen, to be vulnerable and say, “We are not the best fit for your needs.”
Being vulnerable does not mean throwing caution to the wind and dismissing the wisdom we have gained throughout our lifetime. But it does mean having an open mind, and speaking the truth when the truth is what serves the highest good of everyone. That is how strong, trusting relationships develop between us.
To continue learning about Mr. Lencioni’s book and to download his model, visit his web site at:
http://www.tablegroup.com/books/gettingnaked
One of the things I most love about being a successful CEO is being vulnerable enough to say “I don’t know it all”, which means I am open to the teachings and wisdom of others. That creates a world of endless possibilities! I hope you enjoy learning about Getting Naked much as I did!
Mackey McNeill
Thursday, November 18, 2010
Monday, November 8, 2010
College Board Releases New College Cost Figures
On October 28, 2010, the College Board released college cost figures for the 2010/2011 academic year in its annual Trends in College Pricing report.
Here are a few highlight from the reports:
Four-year public colleges (in-state students):
Tuition and fees increased an average of 7.9% to $7,605
Room and board increased an average of 4.6% to $8,535
Total average cost* for 2010/2011: $20,339
Four-year public colleges (out-of-state students):
Tuition and fees increased an average of 6.0% to $19,595
Room and board increased an average of 4.6% to $8,535
Total average cost* for 2010/2011: $32,329
Four-year private colleges:
Tuition and fees increased an average of 4.5% to $27,293
Room and board increased an average of 3.9% to $9,700
Total average cost* for 2009/2010: $40,476
*"Total average cost" includes tuition and fees, room and board, books and supplies, transportation, and other miscellaneous costs.
The report also notes the estimated average amount of grant aid and federal education tax benefits that full-time college students received for the 2010/2011 year: $6,100 for students attending public colleges and $16,000 for students at private colleges.
Here are a few highlight from the reports:
Four-year public colleges (in-state students):
Tuition and fees increased an average of 7.9% to $7,605
Room and board increased an average of 4.6% to $8,535
Total average cost* for 2010/2011: $20,339
Four-year public colleges (out-of-state students):
Tuition and fees increased an average of 6.0% to $19,595
Room and board increased an average of 4.6% to $8,535
Total average cost* for 2010/2011: $32,329
Four-year private colleges:
Tuition and fees increased an average of 4.5% to $27,293
Room and board increased an average of 3.9% to $9,700
Total average cost* for 2009/2010: $40,476
*"Total average cost" includes tuition and fees, room and board, books and supplies, transportation, and other miscellaneous costs.
The report also notes the estimated average amount of grant aid and federal education tax benefits that full-time college students received for the 2010/2011 year: $6,100 for students attending public colleges and $16,000 for students at private colleges.
Tuesday, November 2, 2010
Smart Holiday Shopping
Smart Holiday Shopping
Many people tend to forget or forgo their financial plans during the holiday season for the sake of their loved ones. However, there are a few simple financial rules that can help you get the most bang for your holiday buck.
- Set your budget before you turn the computer on! It is very easy to get carried away. Try to make a list of exactly what you are looking for before shopping. Know your limit.
- Google offers a “Google Product Search.” This search is designed to find a particular item at the lowest price, taking a variety of retailers into account. Don’t forget to factor in shipping! Sometimes a low price on an item may end up being offset by a costly shipping fee.
- Websites like http://www.retailmenot.com list coupons and web deals for thousands of retailers. You can simply search for an item or a specific store.
- Keep an eye out for “free shipping” specials. Sometimes buying two of an item and receiving free shipping will result in a lower total cost.
- Check Facebook and other social media. Smaller and local retailers often post specials and coupons that can be used to save money.
- Don’t inadvertently blow your budget by purchasing things for yourself! If you find items you want, add them to your own holiday list.
- When shopping online for out of town relatives, it is generally more cost effective to have the item shipped to them. The alternative of having it shipped to you and repackaging it results in paying shipping costs twice. Plus you can usually have it shipped wrapped as a gift with a gift receipt.
- Shop early so you have plenty of time to use the lowest cost shipping. Waiting until the last minute can cause you to need express shipping, which can be very expensive.
- Keep your recipient in mind. Check the return/restocking policy and be sure to include a gift receipt.
-And as Jody Robinson puts it, "...shop local independent businesses where your money reinvests in
the community!"
Above all, Try to remember that the holiday season isn’t all about exorbitant consumerism. Focus on family, and don’t forget your budget!
Many people tend to forget or forgo their financial plans during the holiday season for the sake of their loved ones. However, there are a few simple financial rules that can help you get the most bang for your holiday buck.
- Set your budget before you turn the computer on! It is very easy to get carried away. Try to make a list of exactly what you are looking for before shopping. Know your limit.
- Google offers a “Google Product Search.” This search is designed to find a particular item at the lowest price, taking a variety of retailers into account. Don’t forget to factor in shipping! Sometimes a low price on an item may end up being offset by a costly shipping fee.
- Websites like http://www.retailmenot.com list coupons and web deals for thousands of retailers. You can simply search for an item or a specific store.
- Keep an eye out for “free shipping” specials. Sometimes buying two of an item and receiving free shipping will result in a lower total cost.
- Check Facebook and other social media. Smaller and local retailers often post specials and coupons that can be used to save money.
- Don’t inadvertently blow your budget by purchasing things for yourself! If you find items you want, add them to your own holiday list.
- When shopping online for out of town relatives, it is generally more cost effective to have the item shipped to them. The alternative of having it shipped to you and repackaging it results in paying shipping costs twice. Plus you can usually have it shipped wrapped as a gift with a gift receipt.
- Shop early so you have plenty of time to use the lowest cost shipping. Waiting until the last minute can cause you to need express shipping, which can be very expensive.
- Keep your recipient in mind. Check the return/restocking policy and be sure to include a gift receipt.
-And as Jody Robinson puts it, "...shop local independent businesses where your money reinvests in
the community!"
Above all, Try to remember that the holiday season isn’t all about exorbitant consumerism. Focus on family, and don’t forget your budget!
Tuesday, October 26, 2010
A Celebration of Abundance
William McDonough, author of Cradle to Cradle, spoke at Xavier last night to a packed house, including me. I was enlivened by his message of abundance, hope, and the promise of great design.
Below are some of the key points of his talk, as I heard and recorded it.
We need a Revolution. Revolutions are based on values. We need to change the way we act based on a new set of values, not a new set of metrics. To cause a revolution, you must have 5% of the thinking population aligned with your values. We are almost there.
New design is required. When we have regulations, it is a signal of design failure. Mr. McDonough is an architect, so he focuses on design. We have to ask ourselves, "What is our design for our species?"
Renewable energy is the answer. Sunlight is the only true income that the earth has. We need to celebrate renewable energy and get on it, now.
The earth belongs to the living. Life is abundant. We need to stop thinking in terms of limits of resources and design our world to mirror nature, a truly abundant renewable system. We need change now and we need it fast.
Nature is not a tool. We are part of nature. Nature is a treasure to be celebrated, not a resource to be used.
Natures design is:
• Waste is food
• Use
• Celebrate diversity
• Anticipate evolution
We can do better than recycle, we can upcycle. Upcycling is to take something toxic and make it pure.
Values are our starting point, followed by principles, goals, strategies, tactics and actions.
Monoculture is backward. Poly-culture is forward. Build the soil.
Be an optimist.
Don’t settle for doing less bad. Instead, actively strive to do more good.
I resonated with the values comments, as when we are taking clients thru The Prosperity Experience, we start with values. Everything springs forth from values and it changes the dynamics of everything that follows. If we lived all our lives that way, what a different world it would be.
What can you do? His answer was "Follow your bliss", but do it using the principles outlined. Use nature as your guide, celebrate abundance and expect evolution.
A new discovery is like fire, it has no chance but to spread.
Below are some of the key points of his talk, as I heard and recorded it.
We need a Revolution. Revolutions are based on values. We need to change the way we act based on a new set of values, not a new set of metrics. To cause a revolution, you must have 5% of the thinking population aligned with your values. We are almost there.
New design is required. When we have regulations, it is a signal of design failure. Mr. McDonough is an architect, so he focuses on design. We have to ask ourselves, "What is our design for our species?"
Renewable energy is the answer. Sunlight is the only true income that the earth has. We need to celebrate renewable energy and get on it, now.
The earth belongs to the living. Life is abundant. We need to stop thinking in terms of limits of resources and design our world to mirror nature, a truly abundant renewable system. We need change now and we need it fast.
Nature is not a tool. We are part of nature. Nature is a treasure to be celebrated, not a resource to be used.
Natures design is:
• Waste is food
• Use
• Celebrate diversity
• Anticipate evolution
We can do better than recycle, we can upcycle. Upcycling is to take something toxic and make it pure.
Values are our starting point, followed by principles, goals, strategies, tactics and actions.
Monoculture is backward. Poly-culture is forward. Build the soil.
Be an optimist.
Don’t settle for doing less bad. Instead, actively strive to do more good.
I resonated with the values comments, as when we are taking clients thru The Prosperity Experience, we start with values. Everything springs forth from values and it changes the dynamics of everything that follows. If we lived all our lives that way, what a different world it would be.
What can you do? His answer was "Follow your bliss", but do it using the principles outlined. Use nature as your guide, celebrate abundance and expect evolution.
A new discovery is like fire, it has no chance but to spread.
Friday, October 22, 2010
Go Green this Halloween!
Holidays are a great way to spend time with your family & friends, but it is also a time for buying excessive decorative items & clothing you don’t need. Here are a few ways to green up your Halloween…
1. Instead of buying new costumes and decorative items this Halloween organize a swap with your friends, neighbors and family.
2. To reduce your carbon footprint take your kids trick-or-treating in your own neighborhood, or carpool if it is necessary to travel.
3. Use your plastic grocery bags, reusable shopping bags, or old pillow cases to carry the kiddo’s candy stash.
4. If you choose to give candy, try to buy locally! Check out Findlay Market, or Schneider’s Candy for some yummy Cincinnati treats. If you are looking for non-candy treats pick up some temporary tattoos, stickers, or crayons.
5. Keep Mother Earth clean and teach your kids a lesson in littering by having a separate bag to pick up rouge candy wrappers while trick-or-treating.
6. Make homemade Halloween decorations from household items like tin cans, glass jars, plastic containers and toilet paper rolls. Click here for some ideas.
7. And don’t forget the greenest decoration of all! Jack-o-lanterns!
By Gracie Mohr
1. Instead of buying new costumes and decorative items this Halloween organize a swap with your friends, neighbors and family.
2. To reduce your carbon footprint take your kids trick-or-treating in your own neighborhood, or carpool if it is necessary to travel.
3. Use your plastic grocery bags, reusable shopping bags, or old pillow cases to carry the kiddo’s candy stash.
4. If you choose to give candy, try to buy locally! Check out Findlay Market, or Schneider’s Candy for some yummy Cincinnati treats. If you are looking for non-candy treats pick up some temporary tattoos, stickers, or crayons.
5. Keep Mother Earth clean and teach your kids a lesson in littering by having a separate bag to pick up rouge candy wrappers while trick-or-treating.
6. Make homemade Halloween decorations from household items like tin cans, glass jars, plastic containers and toilet paper rolls. Click here for some ideas.
7. And don’t forget the greenest decoration of all! Jack-o-lanterns!
By Gracie Mohr
The Future
Mackey Advisors was pleased to host David Houle, www.DavidHoule.com for our Corporate Fall Education event. It is our goal to offer our corporate clients the best in innovative thinking so they can thrive and prosper. This is our fourth annual Fall Education Event, and David certainly delivered. Everyone left jazzed and with a bit of trepidation about the future.
After giving a review of the pace of historical change, David presents the current time as The Shift Age, a time when change becomes part of our everyday environment. In other words, the constant is change.
There are three fundamental forces in The Shift Age:
1. The flow to Global. More than ever before, we are global citizens. We are personally impacted by global events as never before due to instant access on the Internet. Our problems must be considered and solved on a Global level.
2. The flow to the Individual. The power of institutions is in decline. We no longer define ourselves by the institutions we belong to. We want our products and services personalized.
3. Accelerated Connectedness. Particularly from the rise of the use of cell phones, we can be connected to virtually anyone in the world in just a few seconds.
Change equals disruption, confusion, chaos and a tremendous opportunity for wealth creation. But to gain wealth, not lose it, we have to lead with more vision than ever.
David gave us five attributes leaders need to use and master to navigate The Shift Age with success. Below are the five attributes along with my personal take on what we as CEO’s can do now to embody them.
Adaptability
-With the speed of change increasing, every CEO needs a daily, weekly and monthly score card. Historical and trending key performance indicators are a must. Your numbers will give you guidance on the changes needed.
-Know your core business and align your marketing with that core.
-Set aside time to work ON your business. As the CEO, you cannot adapt without being aware of the big picture.
Resilience
-Lower your fixed cost, and keep your capacity strong by replacing those costs with variable costs. Design a business that can ebb and flow with change and be profitable on many levels.
-Monitor your liquidity You must know where you cash is at all times. You cannot afford to be asset rich and cash poor.
Collaborative on-going reorganization
-Transform your business. If you have a buggy whip business, you can be the best one ever and still have no market.
Trust and change of “authority”
-Social media is here to stay. Learn it, love it and use it.
-Make your product custom and personal
-Adapt to the new work force; it won’t adapt to you.
The Morph Corp
-Know the emotional content of your brand and your intellectual property value.
-Treat your business like your greatest asset (it probably is) and look at what needs to happen to maximize its return on investment.
-Look global.
If you missed this event, I encourage you to pick up David’s book, The Shift Age and make time to read and understand the new future. We cannot afford to be complacent or static.
Natalie, Karen, Andy, Grace or I would be happy to meet you at your office or for lunch to talk about these changes and how you can ready your business for the future.
As your wealth advocate, we are committed to your prosperity, now and in the future. Onward!
By Mackey McNeill
After giving a review of the pace of historical change, David presents the current time as The Shift Age, a time when change becomes part of our everyday environment. In other words, the constant is change.
There are three fundamental forces in The Shift Age:
1. The flow to Global. More than ever before, we are global citizens. We are personally impacted by global events as never before due to instant access on the Internet. Our problems must be considered and solved on a Global level.
2. The flow to the Individual. The power of institutions is in decline. We no longer define ourselves by the institutions we belong to. We want our products and services personalized.
3. Accelerated Connectedness. Particularly from the rise of the use of cell phones, we can be connected to virtually anyone in the world in just a few seconds.
Change equals disruption, confusion, chaos and a tremendous opportunity for wealth creation. But to gain wealth, not lose it, we have to lead with more vision than ever.
David gave us five attributes leaders need to use and master to navigate The Shift Age with success. Below are the five attributes along with my personal take on what we as CEO’s can do now to embody them.
Adaptability
-With the speed of change increasing, every CEO needs a daily, weekly and monthly score card. Historical and trending key performance indicators are a must. Your numbers will give you guidance on the changes needed.
-Know your core business and align your marketing with that core.
-Set aside time to work ON your business. As the CEO, you cannot adapt without being aware of the big picture.
Resilience
-Lower your fixed cost, and keep your capacity strong by replacing those costs with variable costs. Design a business that can ebb and flow with change and be profitable on many levels.
-Monitor your liquidity You must know where you cash is at all times. You cannot afford to be asset rich and cash poor.
Collaborative on-going reorganization
-Transform your business. If you have a buggy whip business, you can be the best one ever and still have no market.
Trust and change of “authority”
-Social media is here to stay. Learn it, love it and use it.
-Make your product custom and personal
-Adapt to the new work force; it won’t adapt to you.
The Morph Corp
-Know the emotional content of your brand and your intellectual property value.
-Treat your business like your greatest asset (it probably is) and look at what needs to happen to maximize its return on investment.
-Look global.
If you missed this event, I encourage you to pick up David’s book, The Shift Age and make time to read and understand the new future. We cannot afford to be complacent or static.
Natalie, Karen, Andy, Grace or I would be happy to meet you at your office or for lunch to talk about these changes and how you can ready your business for the future.
As your wealth advocate, we are committed to your prosperity, now and in the future. Onward!
By Mackey McNeill
Wednesday, September 22, 2010
Tips For Boosting Your Credit Score
In this economy, many seek to improve their financial well-being. One effective measurement of the health of your prosperity is your credit score. When seeking to improve your score, you must keep in mind that there is no “quick fix” for a problematic credit history. However, there are several things you can do to ensure that your score is headed in the right direction.
• Keep track of your credit score. Credit scores run from 300 to 850. Your personal score is based on the information that the three big credit bureaus (Equifax, TransUnion and Experian) have on file for you. Be sure to check your credit report on a regular basis as mistakes can be made that can adversely impact your financial health. http://www.AnnualCreditReport.com is a government-run website which
allows you to access your credit report annually at no cost.
• Be smart with installment plans. Your credit score is based on how much unused credit you have compared to how much you currently owe. If you are often late or very close to your maximum credit line on your account(s) this will impact your credit score in a negative way. One way to take care of this problem is to take out an installment loan to pay off your credit cards. Get a second mortgage or line of credit and take care of these cards quickly. Note: If you are committed to your financial health this is not generally considered a desirable move. However, improving your credit score and making good long-term financial decisions do not always go hand in hand.
• When in doubt, pay off the cards closest to their maximum balance. The intention with this technique is to free up as much credit as possible. A general rule of thumb is that you want to owe 30% or less than your available credit.
• Using old cards is a good credit-building practice. Paying off an older credit card and never using it again can actually harm your credit score. Regularly charge a small balance and pay it off quickly. The key here is to resist charging more than you can pay off at the end of the month.
• Don’t close accounts. Closing a card once you pay it off can actually lower your credit score. As stated above, it is better to shake the dust off that old card and charge a small amount on it, then pay it off before it collects interest.
• Increase your credit limit. Remember the rule of thumb: having a large amount of available credit does wonders for your score. The key here is to have as much difference as possible between the amount of credit available and the amount you owe.
• Take advantage of automatic payments. Often, late or missed payments are the product of a memory lapse.
• Beware late payment penalties. Even a late fee from your local library can impact your credit score.
• Don’t get sent to collections. It is more beneficial to you to pay that extra $30 fee you don’t agree with than to have your score damaged as a result of stubbornness.
• Keep track of your credit score. Credit scores run from 300 to 850. Your personal score is based on the information that the three big credit bureaus (Equifax, TransUnion and Experian) have on file for you. Be sure to check your credit report on a regular basis as mistakes can be made that can adversely impact your financial health. http://www.AnnualCreditReport.com is a government-run website which
allows you to access your credit report annually at no cost.
• Be smart with installment plans. Your credit score is based on how much unused credit you have compared to how much you currently owe. If you are often late or very close to your maximum credit line on your account(s) this will impact your credit score in a negative way. One way to take care of this problem is to take out an installment loan to pay off your credit cards. Get a second mortgage or line of credit and take care of these cards quickly. Note: If you are committed to your financial health this is not generally considered a desirable move. However, improving your credit score and making good long-term financial decisions do not always go hand in hand.
• When in doubt, pay off the cards closest to their maximum balance. The intention with this technique is to free up as much credit as possible. A general rule of thumb is that you want to owe 30% or less than your available credit.
• Using old cards is a good credit-building practice. Paying off an older credit card and never using it again can actually harm your credit score. Regularly charge a small balance and pay it off quickly. The key here is to resist charging more than you can pay off at the end of the month.
• Don’t close accounts. Closing a card once you pay it off can actually lower your credit score. As stated above, it is better to shake the dust off that old card and charge a small amount on it, then pay it off before it collects interest.
• Increase your credit limit. Remember the rule of thumb: having a large amount of available credit does wonders for your score. The key here is to have as much difference as possible between the amount of credit available and the amount you owe.
• Take advantage of automatic payments. Often, late or missed payments are the product of a memory lapse.
• Beware late payment penalties. Even a late fee from your local library can impact your credit score.
• Don’t get sent to collections. It is more beneficial to you to pay that extra $30 fee you don’t agree with than to have your score damaged as a result of stubbornness.
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