Greg's Right FIT #342

Quick notes to help you grow your business in less time with less effort. . . sometime next week. 

In this issue: 

- Thinking about Momentum
- Being Human
- Random Stuff

Thinking about Momentum

• Time, they say, as opposed to money, is a non-renewable resource. This doesn't mean you shouldn't focus on money. Money, as they also say, makes the world go 'round.
• When tough decisions are to be made it helps to have had a good nights sleep and something healthy to eat. It also helps to have money in the bank in case things go off course.
• Financial advisors suggest having an emergency fund of six months living expenses on hand. Business advisors suggest the same thing for companies. It is good advice because it allows you to be patient with your process.
• A potter talking about the quality of a handmade pot says, don't buy pottery from someone desperate to pay rent. This seems like good advice for a lot of things.

Being Human - Bench strength, dollar version

"Desperation can make a man do surprising things."

When I work with managers, especially sales managers, we focus on the idea of bench strength to get the most from their team. The basic concept is it is easier to demand behavior if there is a replacement on the bench ready to step in if things don't get done. Bench strength makes it easier to build and maintain momentum.  

Although I'm usually referring to recruiting and training new sales reps, this concept applies to momentum too. 

When you have resources in reserve, or on-the-bench as I say, ready to deploy when needed, your risk profile changes. Everyone has their own risk tolerance level, and in sales, when you have assets in the bank, it's easier to build momentum.

Let me give you an example. I have two sales reps, one with an emergency fund equivalent to 6 months personal expenses in her checking account, and the other with barely one month in her account. They are sitting in front of a demanding prospect in a heated sales negotiation when the buyer does something inappropriate. They ask for a kickback on the commission the sales rep gets for winning the business. In this example, kickbacks are not only inappropriate, they're illegal. 

Both reps need the sale to hit goal and keep their jobs. This buyer throws both of them for a loop, causing a mini crisis in their brains as they consider the consequences. What happens next? If they say no, can they live with the consequences? If they say yes . . ?

It's a hypothetical, but I have observed the power of  financial bench strength in these situations. The more desperate we feel, the more likely we are to compromise and justify risky decisions. Risky actions can be a momentum killer. 

This is why we tell our reps it's to your advantage to build a strong bench, have a full tank of gas, keep your powder dry, and a bunch of other related sayings. We want to keep feelings of desperation away. When we feel like we're out of options, we are. 

As a manager it's almost impossible, and probably not appropriate to know your people's exact financial situation. However, you can talk about the benefits of money in the bank. Especially when coupling it with easier subjects like the benefits of a good nights sleep, eating well, and exercise. Financial bench strength keeps momentum going. It helps your people make the right decisions and gives them the patience to stick to process, regardless of short term pressures. 

Promote dollar bench strength. It helps.

Random Stuff

“The grass is greener where you water it." 

Is it hot where you are? It's hot here. We have a garden this year, and it's getting close to harvest time for a lot of the plants. As happens every year about this time we are taking a trip to one of the big lakes in the upper Midwest where we hope the weather will be cooler. This means the garden will be neglected at a critical junction in its journey. The momentum of the garden will be impacted, one might say. 

In the past we've asked the neighbor kids to throw some water on the plants if they think about it, but it's never been a big deal. This is changing. Since early 2020 I've watched a lot of hours of gardening shows and hey, I'm not going to let this year's production be impacted by a few weeks of neglect. The night before we leave I decide to install a soaking system. I get to the hardware store and buy a garden hose faucet timer, a bunch of soaker hose, some more regular hoses, and a bag of connectors. If all goes well, I tell myself, this little robot will water the plants twice a day while I'm out. Production will not be interrupted! 

Needless to say this project requires a little more effort and planning than I put into it. I walk out the front door and one of the soaker hoses in a front planter is spraying the door, not soaking the roots. Well, the roots are getting a little water. It doesn't matter because we have to get on the road. 

As I pack up the truck I see a gas/water utilities district truck roll by and the driver gives me a head nod. I know what he's thinking. Customer of the month. Again.