Archive for March, 2012

Are You A Good Manager? Part 2

Posted by Joel pate in Business. Tagged: , , , , , , , , ,

Part 2

Next, managers motivate and communicate. The work of the manager is not complete until you develop a continuous process that will keep your team well informed of the plans and purposes of their job and how they fit into the organization. Nothing de-motivates an employ more than a lack of effective communication. I say effective because all communication is not created equally.

A key to effective communication is to understand the personality profile of all of your team members and of yourself. I recommend the DISC personality profiles for this. They are easy to learn and inexpensive.

The point is that you have a method that you prefer to use to communicate to others. And in this case, your employee has a method in which they receive information, digest it and use it to YOUR benefit. You must make sure that your communication to your employee is indeed in line with the way they actually are motivated. If you don’t know what I am talking about you can probably stand some improvement in this area.

Managers must also measure. In every business there are many things to measure but only a few are critical. Your profit for example is critical but so is your cash flow. The number of new leads turns into the number of new applications. The conversion ratio is critical to keep tabs on. Make a list of all of the measurable variables in your business and maintain a daily or weekly log for each. If they are not in line with your projections, you must do something about it now. Failure to act or to fully understand the new reality is a failure to manage.

Finally, managers to develop resources and typically that means people. I find that I work well with professionals; so many of my resources are other companies. How do you work best? Directly through employees or through contractors? Either way, they must be developed and recruited. Develop a plan to continuously monitor the needs of your enterprise to determine the adjustments that needs to be made. If you don’t have any, you are not doing something correctly.

Consider this: Your rolodex, electronic or not, is your resource. It is your asset. It is your ability to reach out and get things done through people. Are you managing it?

The action item for today is to step back from your operations and from your life for about an hour or so. It doesn’t take long to clear your head. Begin to put down on paper your objectives. Focus on the organization that is needed. Don’t get too deep. Just think through the next few days of what you want to accomplish this month on various objectives. Consider now, who has to be motivated to accomplish these task. How will I measure the results? Consider outsourcing the need for the resource if possible. If you need to develop a website for instance, don’t try to learn to do it yourself.

Remember that each step towards your objectives is the best step that you can make.

To your Success

Joel S. Pate

Joel Pate is an entrepreneur and founder of multiple successful companies in the mortgage, real estate, and marketing space. For more information on Joel, contact him at joel.pate@scoreinc.com

PS: Plan to join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link: https://www3.gotomeeting.com/register/249243630

 

 

 

 

Are You a Good Manager Part II

Posted by Joel pate in Uncategorized. Tagged: , , , , , , , , ,

In my last article I started by saying that whether you like it are not, you are a manager. The only question: Are you a good manager?

As adults we manage many facets of our work as well as personal life. And we are responsible to ourselves to make the best of every minute of every day-if only to make it more enjoyable. These principles apply to work, home, charity-to every activity in which you spend time and energy.

There are five basic operations in the work of a manager. Picking up our discussion—next, managers motivate and communicate. The work of the manager is not complete until you develop a continuous process that will keep your team well informed of the plans and purposes of their job and how they fit into the organization. Nothing de-motivates an employ more than a lack of effective communication. I say effective because all communication is not created equally.

A key to effective communication is to understand the personality profile of all of your team members and of yourself. I recommend the DISC personality profiles for this. They are easy to learn and inexpensive.

The point is that you have a method that you prefer to use to communicate to others. And in this case, your employee has a method in which they receive information, digest it and use it to your benefit. You must make sure that your communication to your employee is indeed in line with the way they actually are motivated. If you don’t know what I am talking about you can probably stand for some improvement in this area.

Managers must also measure. In every business there are many things to measure but only a few are critical. Your profit for example is critical but so is your cash flow. The number of new leads turns into the number of new applications.

The conversion ratio is critical to keep tabs on. Make a list of all of the measurable variables in your business and maintain a daily or weekly log for each. If they are not in line with your projections, you must do something about it now. Failure to act or to fully understand the new reality is a failure to manage.

Finally, managers to develop resources and typically that means people. I find that I work well with professionals, so many of my resources are other companies. How do you work best, directly through employees or through contractors? Either way, they must be developed and recruited. Develop a plan to continuously monitor the needs of your enterprise to determine the adjustments that needs to be made. If you don’t have any, you are not doing something correctly.

Consider this: Your Rolodex, electronic or not, is your resource. It is your asset. It is your ability to reach out and get things done through people. Are you managing it?

The action item for today is to step back from your operations and from your life for about an hour or so. It doesn’t take long to clear your head. Begin to put down on paper your objectives. Focus on the organization that is needed.

Don’t get too deep. Just think through the next few days of what you want to accomplish this month on various objectives. Consider now, who has to be motivated to accomplish these task. Also consider how will I measure the results? Consider outsourcing the need for the resource if possible. If you need to develop a website for instance, don’t try to learn to do it yourself.

Remember that each step towards your objectives is the best step that you can make.

To your Success

Joel S. Pate

PS: Plan to join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link:https://www3.gotomeeting.com/register/393936198

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

Are You a Good Manager?

Posted by Joel pate in Uncategorized. Tagged: , , , , , , , , ,

Whether you like it are not, you are a manager. The only question: Are you a good manager?

As adults we manage many facets of our work as well as personal life. And we are responsible to ourselves to make the best of every minute of every day-if only to make it more enjoyable. These principals apply to work, home, charity-to every activity in which you spend time and energy.

There are five basic operations in the work of a manager.

Managers can improve their performance by improving the results they achieve on the following activities:

• Establish objectives. The first job of a manager is to establish the correct objectives for your organization/life. Only by limiting your concentration to a clearly defined set of objectives will you be able to gain the focus you need for success.

Too much energy is wasted on events that are aligned with unclear objectives. Stop and ask yourself often, “Why am I working on this project? Does it meet my clearly defined objective(s)?” If it doesn’t, consider eliminating it from your day as soon as possible.

With a clearly defined set of objectives, it is time to consider what needs to be done in order to reach your objective. The first question to ask: “Do I have the resources needed to accomplish this objective?” If you do not, determine what you need and do your best to obtain it before you commence.

There is nothing worse than beginning a project and then abandoning it without meeting the objective. Too many times we waste such valuable time and resources because we did not critically examine our ability to complete a project before we started. You would be better off spending the day at the beach!

• Managers manage people as well as the objectives. Most projects require the development and the management of resources. Do not limit yourself by limiting the resources that you have in your sphere of influence. Many times it is better to engage an outside resource than to develop your own.

For example, I recently hired an Infusionsoft expert for $100 per hour to complete a project. What is the project? Develop Infusionsoft using a clearly defined sales process flow chart into a complete system and then train my team on how to use it.

For less than $1,000, we will not only have the system developed but will be trained on its use.

Regardless of the type of resource, they all require that you communicate clearly to them the objective and the goals to be of value. Be careful that you do not engage resources or employees without a clearly defined objective for in all cases they will help you define the objective with their own benefit in mind. It will be a waste of money or become very expensive.

Of course commonly opportunities arise as you go through your day focused on your objectives. While you need to have an open mind, be careful of distractions.

Key: Be clear about your objectives prior to committing resources.

• Managers must organize. Organization is a primary duty of the manager. With a clearly defined objective you can now begin the job of organizing the work that needs to be performed as well as development of the non-negotiable that you will deliver. I find that companies that do not have non-negotiable waive key elements of the protocol necessary to maximize results.

For example, if your business has a complicated sales process that requires training, require the participants to submit to training. No ifs ands or buts. Maintaining this important decision will help you grow your business in a focused manner. Elimination of problems is best when done from the beginning.

In addition, you must analyze your activities and decisions. What are the key components of your enterprise? What are the variables of your forecast? Managers must manage to those variables on a regular, even daily basis, if they hope to accomplish the goals established.

How many customers must come through your door on a daily basis to be successful? How much must they spend? Duration of the revenue activity? Productivity per hour for your staff? Percentage of re-occurring revenue units? These are just a few of the measurements for your business. The key is to measure and then soberly understand if you are meeting your targets.

Only the accomplishment of specific measurable events will culminate in the end result of your objective. Don’t get to the end of the month to determine that it was not a good month. You can determine it on a daily basis if you have the proper analysis of data.

To be continued.

To your Success

Joel S. Pate

PS:    Plan to join Joel for his Jump Start Business Building webinar held each Thursday at 3 PM CST by clicking on this link:https://www3.gotomeeting.com/register/393936198

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com