Meeting new business challenges the next generation project manager

Copyright 2006 Dennis Sommer Are you tired being an average project manager, working on average projects, being passed over for promotion, and getting an average performance review? You need to understand something right now. Being a certified Project Management Professional (PMP), proficient in the PM knowledge areas and having successful projects under your belt, is not enough to be a top performing project manager. There are new challenges and expectations today that require every project manager to evolve to the next level. If you do not take action now, you will be left behind. New Challenges Think of all the challenges you face on a daily basis: Motivating teams who are harder to mold and direct than those in the past. Introducing new services more swiftly to keep up with competitors. Managing change in all its variations from new company regulations, methods, policies, etc. Managing higher customer expectations. Managing higher company expectations. Being a project manager with a traditional “tyrannical management and control” management style does not succeed in this new business environment. This is one of the reasons why there have been so many project managers, from all industries, let go in the past 3 years. Business executives realized their traditional project managers were not adding value to the organization. They could not meet new challenges and expectations. Traditional project managers are considered dead weight and on the endangered species list. Meeting these challenges demands leadership. Why would you want to change your management style? Well, let’s see. Who is the best motivator? A Leader. Who gets the greatest effort and most insightful thinking from people? A leader. Who always meets stiff challenges and goals? A leader. Who summons from people old-fashioned workplace virtues like loyalty, commitment, and on-the-job exuberance? A leader. Who gets promoted? A leader. Traditional Project Manager vs. Leader So why are there so few leaders? Many believe the traditional “tyrannical management and control” management style based on ordering people around, kicking butt, and taking names gets results quicker. This can work, but there is a huge negative impact to employee morale, team performance, and long term success. Review the following list, A Leaders 13 Core Competencies, and see whether you are a traditional manager or leader. To keep your current project management position or advance your career, you need to understand the difference between the two and which leadership core competencies you will need to work on for future success. A Leaders 13 Core Competencies Management Style. Traditional project managers supervise, control and correct. Leaders strategize, inspire, and motivate. Goals. Traditional project managers focus on short term goals and follow endless series of internal processes to the letter. Leaders think and act like an owner of the company, recognize the importance of long term goals, have vision, and are committed to succeed. Thinking Style. Traditional project managers are satisfied with incremental gains and follow ideas that worked in the past. Leaders are constantly searching for new knowledge and new ideas, willing to learn better methods and make sure employees expand their knowledge base. Communication. Traditional project managers engage in one-way communication, give orders, and talk at people. Leaders encourage interactive communication, are receptive to both positive and negative feedback, and listen to employees and customers. Emotion. Traditional project managers are analytical and coolly detached. Leaders produce emotional energy. They inspire employees and customers to consistently achieve goals. Trust. Traditional project managers are firm believers in Murphy’s Law. They constantly monitor their employees. Leaders maintain a high level of trust with their employees. Openness. Traditional project managers are closed minded, need everything proven to them, and take pride in saying “NO!”. Leaders embrace diversity and are highly receptive to new ideas and people who are different. Action. Traditional project managers gather good ideas and rarely implement them. They over analyze, resist making decisions and avoid risk. Leaders are self starters and action oriented, they think fast on their feet, come up with solutions to critical situations, and take calculated risks. Mentoring. Traditional project managers rarely coach or mentor employees. They focus on how things should be done and strictly follow procedures and checklists. Leaders help employees develop the habits they need to be more successful, empower employees to make decisions, observe performance and provide feedback. Change. Traditional project managers like things the way they are, will do anything to avoid change, and see change as a threat. Leaders stimulate and relish change, adapt quickly to change, do not fear it, and see it as an opportunity. Attitude. Traditional project managers are pessimistic and not approachable. Their first priority is to satisfy the boss, then customers and employees. They are judgmental and push blame down the line. Leaders realize the impact of a positive attitude, they treat everyone as special, remain objective, apologize and admit mistakes, and maintain a positive frame of mind. Value System. Traditional project managers do not have personal or team values documented and they don’t know their own corporate value system. Leaders document and refer to personal and team values daily, they believe values guide people, and values are something considered worthy in and of itself. Performance Measurement. Traditional project managers rarely measure or review performance. When they do, the measurements are judgmental, and employees rarely know how they are performing on a day-to-day basis. Leaders are always measuring data based performance, track employee progress, involve the employee in tracking their own performance, and use the performance measurements as a training tool. How To Become A Leader Were you born a leader? Of course not. Can you be a leader? Yes. Leaders are made rather than born. To be successful and meet the new business challenges, traditional project managers must concentrate on developing the 13 Leadership Core Competencies. Leadership training, mentoring, experience, and daily dedication to the core competencies will be the key to your success in the future. To get started on your path to becoming a project management superhero, you need to take the first step. The following is a list of my favorite project management and leadership web sites that will help you take the first step: btrconline, ccl. org, pmi. org, and business. My favorite leadership books include: “One Minute Manager”, “Seven Habits of Highly Successful People”, “Who Moved My Cheese”, “Not Bosses But Leaders”, “The Leader Manager – Guidelines for Action”, “Enlightened Leadership”, and “First Things First”. Good luck with your future success.

Business opportunity seekers

If you are involved in any type of multi-level, network marketing program, home based business, or other type of direct sales program, then you are probably interested in building your business using business opportunity seekers. These are people who have expressed an interest in a home-based business, extra-income opportunity, multi-level marketing, or entrepreneurship by signing up on one or many websites that match business opportunity seekers with the type of offering they are looking for. Some people may have no interest in having a business of their own, and simply want to make extra money working for someone else. If this is the case, then maybe they just need to get a second job. Serious business builders are business opportunity seekers who want to be involved in their fate, and be able to say what goes, not just do what someone else tells them to do. There are a number of list providers on the internet that specialize in gathering information on perspective business opportunity seekers, by asking them to fill out a simple form about what type of money making venture they are looking for. The lead company then compiles this information for sale to multi-level marketers (MLM) and other types of businesses who need fresh responsive leads, not just lists that have been circulated to thousands of people. Making calls to these people will not be a positive experience because they have already been bombarded with calls from your competition. They don’t want to hear what you have to say. On the contrary, actually speaking with a true business opportunity seeker is a refreshing experience, because this person really wants to listen to you about what you have to offer. Lead companies also sell pre-qualified leads that can greatly increase your efficiency and level of success. These pre-qualified business opportunity seekers have been contacted by the lead company to verify the type of opportunity they are looking for, so that they can be matched as closely as possible for just the right fit. Business opportunity seekers are the cornerstone of any MLM, direct sales, home based business. It is not always possible to continue recruiting new people from your warm market only. At some point, all multi-level marketers must search for business builders outside of their group of family, friends, and co-workers to connect with those people who are just waiting to be found. Are you a business opportunity seeker?

Incorporation services what are the benefits and privileges

In a very few years that Internet has been exiting, it has fast become a virtual shopping site where everything from the most common to the hard to find items can be found. Incorporation services are one. Most businesses choose to incorporate because of the benefits that can be derived from it. Not long ago, only big businesses were incorporated. These businesses can provide the best compensation packages and benefits that are near to impossible in smaller establishments that are not incorporated. During the middle half of the 1900’s, other smaller businesses started picking up the idea. One of the reasons that incorporated businesses enjoy is tax exemption and tax holidays that translate into big savings that can be used as additional capital. During the 70’s the reason to incorporate even small businesses had been so attractive that small businesses started to incorporate. Later however, congress started curtailing the benefits that the big corporations are enjoying that today, even small organizations can start having additional fringe benefits. This resulted in smaller entities having parity with big corporations in terms of tax deductible benefits without being incorporated. While parity has been achieved, there are still many reasons for incorporating. One is image. A good title like President or the CEO of a corporation can command respect among clients. Clients would normally prefer to talk with the top executives of a company than any other person with a non-corporate title to back him up. Another is the protection of a corporation when buying services. To soften the exposure of the company, many are now requiring independent contractors to incorporate themselves before their services are accepted. An incorporated business has a wide range of powers. It has its own legal personality separate from its stockholders, owners and investors that is mandated and protected by state laws. It can Enter into contracts and buy and sell properties and goods subject to lawful transactions. When legal problems arise, anyone from the company can represent the corporation in behalf of the company. An incorporated company is liable for its own debts. The directors, shareholder and owners are shielded from the company’s debt and can not be sued in behalf of the company. The company will have to bear the burden of is own debts from its own resources except in cases when an individual guarantees the corporate debt or as mandated by the court. Corporations are granted a separate personality that it can go on even after the death of the owner and the shareholders. In short, there is money to be saved privileges to be enjoyed when an entity is incorporated. While books have been written whereby an individual can incorporate himself without a lawyer, the safest and surest way is still to have one. The expertise of a lawyer encompasses consideration for commercial law, laws on taxation, securities legislation, limited liability, local and national ordinances and a wealth of knowledge regarding business consideration. Furthermore, laws are being changed, proposed and amended from time to time that the law that a non-attorney is familiar with may already have been replaced. A registered agent will be required for companies that are in the process of incorporation. They act as the representative for accepting service processes that include official government communication that are presented to the company, legal proceedings and legal notices. Incorporation services can also provide you a registered agent when you require one.

What s in a name when it comes to your business plenty

Q: How important is the name of a business? Should the name of a business reflect what the business does or is it better to come up with something catchy and easy to remember? -- Randy P. A: What's in a name? When it comes to your business, Randy, a lot more than you might think. In fact, deciding on a business name is one of the most important decisions you will ever make. The right business name can help you rise above the crowd while the wrong business name can leave you trampled in the rush. With the economy in a slump and competition on the rise, now more than ever it is important that you put considerable thought into coming up with the perfect name for your business. Unfortunately, this is a task that is easier said than done. It seems like all the good business names are either married or… no wait, that's a different subject, but the analogy holds true. We live in an age when a business called "The Body Shop" might repair wrecked cars or sell skintight jeans to teenagers, so before you send your letterhead to the printer, consider the following points to help you select the business name that's right for you. The first thing you should do is conduct a little research to determine if the name is already in use by someone else. You would be surprised at how many entrepreneurs forget to research this point and open a business with a name that is already in use. Check with the county clerk and the secretary of state to make sure the name isn't already licensed for use or incorporated with the state. Also check with the U. S. Patent and Trademark office to see if the name is already trademarked, i. e., owned, by someone else. Using another company's trademarked name exposes you to legal action by the trademark owner. Even if your name is just similar to the trademarked name, you may find yourself in court defending your right to use the name. And odds are it's a battle you will lose. If the name you choose is not in use, you should immediately reserve the name with the secretary of state (if you plan on incorporating) and apply for a trademark to ensure your legal ownership. If you do not trademark the name someone can come along later and attempt to steal the name out from under you. Imagine spending years building up your business only to have some upstart trademark the name and engage you in a legal battle over rightful ownership. This is one fight you don't need, especially when the hassle could have been easily avoided with a few bucks and a few forms. Another important thing to consider is the domain name for your business. The domain name is the website address a customer will use to find you on the Web. Is the domain name for your business name available? If not, is there a domain similar to the business name you're considering? You will undoubtedly discover that securing a suitable domain name is actually harder than choosing a business name. Most logical domain names are already reserved, but you might get lucky. Keep in mind that domain names should be short and descriptive, and preferably have the or. net extension. You can use other extensions (I've even used the ".to" extension on occasion) if necessary, just keep in mind that you will need to put forth a little extra marketing effort to promote the website address as people typically assume a extension as the norm. Whatever you do, don't use a domain name that is a confusing amalgam of letters and numbers that is hard to remember and even harder for your customer to type in. One good way to approach the task of naming a business is to do so from your customer's point of view. Your business name should clearly define your offering and communicate your message to customers. Put yourself in your customer's shoes for a moment. If you were looking for a business that provides your product or service, what would you expect that business to be called? If you were in the market for computer parts, for example, wouldn't you look for a business that has "computer parts" reflected in the business name? Jim's Computer Parts may not sound as snazzy as Jim's Electronics Emporium, but snazzy doesn't pay the bills. Happy customers who quickly identify you as the source of their purchase do. The name of your business can also spark subconscious reactions in a customer that may drive them to you or drive them away. Words like quality, complete, executive, best, low-cost, and on time often spark positive reactions in the mind of the consumer. Words like cheap, discount, and used tend to create negative emotions. You'll notice that no one claims to sell used cars anymore, but the dealer lots are loaded with vehicles that are "previously owned." Finally, let's talk about things to avoid. Experts agree that you should avoid using generic terms like enterprise, corporation, partners, and unlimited as part of your everyday business name. These terms are fine for the legal business entity name, but are often too unclear for everyday use. Can you tell me what any of these companies do: ABC Corporation, Big Dog Enterprises, M&B Partners, and Discounts Unlimited sell? I didn't think so. Also avoid abstract names like Yahoo, Google, Monster and Flip Dog (I am not going to list the names of the numerous local high tech firms that have bucked this rule :o). Abstract names will require a subtitle to explain what the business does or an expensive marketing campaign that brands the name into the minds of consumers. Unless you have deep pockets, I suggest you go with a name that describes your business at first glance and leave abstraction to the likes of Cher. Finally, you should avoid hokey names, unless of course, you are starting a hokey business. Crazy Dave's Stereo Shop is a great name if the business is really run by Crazy Dave and his personality is exploited in the marketing of the business. However, if you want to be taken serious, then give your business a serious name. Would you go to Crazy Dave's House of Dentistry? Neither would I. Here's to your success.

Offshore outsourcing services india offers contain more than just cost advantage

Some other factors associated with the success of offshore outsourcing services India based firms are currently offering: Offshore outsourcing services Indian consultancy and management firms are now offering foreign based clients include minimal risk involving high productivity and measurable profitability business delivery models that are planned in accordance with local culture to be a perfect fit. The customer-centric approach to first evaluating the client company’s business objectives and then planning and implementing a customized business delivery model keeping in mind cultural diversity and communication aspects that need to be adapted afresh, are all contributing factors for successful delivery of the offshore outsourcing services India based firms offer. Other advantages offered by offshore outsourcing services India based firms provide include improved standard quality infrastructure at reduced costs, quantifiable cost savings, lowered capital outlay and operation costs. Added to this is the reliability of experienced and dedicated workforce committed to using cutting-edge technology in a 24/7 work model and proven results from satisfied client testimonials as recorded in a verifiable portfolio. Apart from these immediate benefits of choosing an experienced offshore outsourcing services India provider, a foreign business owner can also rest assured that projects will start quicker and come with a timeline guaranteed to accelerate product time to market and win wider customer base while success partner studies and incorporates adaptable and applicable new trends in offshore outsourcing to the remaining length of the project. Growth of offshore outsourcing services India: reasons and types of success stories. Outsourcing when it first began in the early 1980’s dealt mostly with the non-core business functions of the IT industry that were related to setting up and maintaining customer service support groups, as aided by call centers and BPOs, managing back-end processes and technical help-desk responsibilities. Slowly, their sustained success, reduced cost of operations, better tactical and more professionally managed portfolio of services aiding confident, cohesive and strategic approach business continuity and growth helped BPO service providers in the IT domain offer the same quality to other industries, such as financial, medical, educational and legal companies. Thus, started the current wave of offshore outsourcing services India with more innovative management approaches, reliable and cost-effective delivery of seamless integration of business operations and better formal governance structures so customers and their business were always assured of the opportunity to excel through cost-efficiency, agility and growth – and so it has remained, especially with eupath

Podcasting what is it how can it help me

Podcasting is a new way to get your message out to millions of people without costing you an arm and a leg. A podcast is a digital media file that gets distributed over the internet using syndicated feeds for playback later and can be downloaded to a portable media player or computer. Listeners can also subscribe to your podcast so that when you record a new one and publish it to the internet they are notified and can download it for their listening pleasure or a fee if you choose to go that route. How can podcasting help your business? The ways are limitless so instead of having a blog a million pages long and boring no less, we are going to highlight two of the best reasons, in my opinion of course, here. Reason number 1? You are in complete control! No one will tell you what you have to record, you control what your listeners hear, how long the cast is and who is allowed to listen to your message. Reason Number 2? It’s easy and you can do it for free! What is better than growing your business and doing it affordably? There are programs out there that let you record and edit your audio files for free like audacity. If you want to pay for a program they come in all shapes, sizes and price ranges. To reach your target audience you will want to do some research to find the appropriate place to link your site and then get it out to all the RSS feeders that you can. If you don’t know what an RSS is that’s alright. An RSS is Really Simple Syndication and is how your podcast is syndicated and found by others on the internet. Many websites today will have RSS somewhere on them with a logo or icon. When you click on this little logo you will be able to subscribe to the feed and be notified when there are updates and new content available. It is an easy way to get updates without having to manually visit a web page or blog to check for updates or news. Having your podcast associated with an RSS feed will allow those listeners that have subscribed to your feed to be notified automatically and immediately when you have new information. No more sending emails out to everyone individually, this saves you time and therefore money! Podcasting is yet another wave of the future. To get ahead and reach more people than ever you need to grab your board and ride the waves into the next age of technology. Surf’s Up!

Loose covers and sofa covers

If you change the interior dйcor of your home you may come across the problem of having furniture such as sofas and chairs that look out of place. It’s very common for you to want to change the dйcor in your house and it can be a very expensive task if you have to buy brand new furniture every time you redecorate. However, there are other methods available which can be relatively cheap that you may not know about. Sofa covers are a great way to take your existing sofa and match it to any design you wish, they come in a great range of colours and patterns so you can guarantee to find one that suits your requirements. In order to get the best results you should always shop around, many places offer different styles and ranges that you may be unaware of so whether you are looking for Tetrad loose covers or Multiyork loose covers you can be sure that covers4you is the solution. They offer highly competitive prices so you will not only get the best ranges at hand, you get them at the best price. You can often get loose covers for your sofa custom made so that they are exactly how you want them. This will work out much cheaper than buying a brand new suite, especially if you have them made to your requirements and to the exact size of your old sofa so that they fit perfect. You can save a great deal of money if you simply just keep changing the covers, all you need is a decent sturdy sofa as you can buy a range of covers to suit any interior dйcor of your house. If you have any questions or queries don’t hesitate to contact them and get your problem resolved by an assistant. You can guarantee that they will provide excellent after service so that you can be confident when buying with covers4you. Be sure to check the range online to find out if they have anything that takes your interest. You automatically get the advantage of being able to browse hundreds of designs in the comfort of your own home, simply compare their prices to any other sofa cover company and you will see how much money they can save you!

Buying at the top wachovia s mistake

The real estate market greatly exploded over the last five years with the biggest shift happening in the past three years. All good things must come to an end, and unfortunately this real estate boom is over. People who have bought in the past six months have been buying at the top, and even large companies have made this mistake. One company in particular is Wachovia Bank. Its recent purchase of Golden West Financial for $26 billion is a prime example of a ‘buying past the peak’ investment. Two of the primary drivers of this real estate market mania have been people’s belief that they must own real estate coupled with a second factor of low interest rate mortgages. The first driver is people’s fervent belief that they must buy real estate, but this ‘herd mentality’ is beginning to change. Speculators buy homes as investments and these investors have been a large source of the demand for real estate in the past few years. Now, not only have speculators stopped buying but they are also selling the properties they own. As a result, inventory of homes for sale are at astronomical levels. The second driver of the real estate market has been low interest rate mortgages. Interest rates bottomed out in June of 2003 and have been rising ever since. As a result interest rates are substantially higher than they were only 12 months ago and they only have one way to go – up. Higher interest rates are needed to help slow down inflation. Inflation has recently caused consumers to really begin feeling a pinch in their wallets. In order to cope with higher interest rates and high real estate prices, banks have thrust adjustable rate mortgages onto the American public. Since March 2004, there has been a 59% increase in one-year adjustable rate mortgages. These mortgages start out with a low interest rate, but quickly rise after the one-year introductory period is over. Moody’s has reported that an astounding $2 trillion of adjustable mortgages will reset between 2006 and 2007 and this will really cause foreclosures to rise like never before. Rise they have as mortgage foreclosures nationwide increased 38% as reported by RealtyTrac Inc. Mortgage defaults will only worsen with higher interest rates and more adjustable mortgage rate resets. What bank is infamous for specializing in adjustable mortgage loans? The answer is Golden West Financial bank. Adjustable mortgages will be the primary cause of the coming mortgage meltdown and ground zero for this will be overpriced areas such as California, Florida, and New York. Golden West Financial concentrated their adjustable mortgages in California, one of the most overpriced real estate areas in the country. Wachovia was so absorbed by the real estate bubble it paid the highest price ever per share for Golden West. So what happens when many of Golden West’s clients foreclose on their properties because they cannot afford a 50% jump in monthly mortgage payments? Wachovia will feel the pain as they are forced to sell these mortgages to investors for pennies on the dollar. Do not make the same mistake; learn all about the markets and economy. It is important to know there is still time to prepare yourself for the real estate bubble bursting and the coming recession. Go to MyRealEstateBubble for more information.

It consulting medium sized businesses and government contracts

As you grow, should you go after government, city, state, municipality contracts like school district contracts? Maybe. They are an entirely different business model. When you are talking about selling to medium sized businesses, again go back and assess your tech skills. Assess what kind of skills you are bringing to the table and see how close you are to being able to being that deep into a few skills, because that is what these medium sized businesses are looking for. They are not looking for an outsourced version of a central IT manager. Going after government, city, state, municipality, public school districts, etc. involves bids, bid packets, bid surety bonds, long sales cycles, and a lot of politics. This stage of the game is a very different business model, very different than selling to the sweet spot of small businesses or even small businesses in general. Only go after these kinds of things after you have completely exhausted and completely saturated your sweet spot marketing roll out. In other words, don't persue them until most of the sweet spot small businesses within a 50 mile radius know who you are, they are in your prospect funnel, and you have grown them to the point that you have absolutely maximized them out and you still don't have enough business. This is pretty unlikely unless you are in the absolute middle of nowhere. You should consider supplementing your business base with some high-end micros - and some medium sized businesses before going after government work. This is because of the level of aggravation with the bids, then the politics and the waiting to get paid. It's not a very good place for people to be - especially in their start up stage. Copyright MMI-MMVI, Small Biz Tech Talk. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance}

10 Tips to succeed in your legitimate home business

Virtually everyone would jump at the chance to start a legitimate home business so they could work at home and attain financial freedom. But not everyone has what it takes to transform a home business opportunity into financial success. Here are ten tips that will help you achieve your personal and financial goals through running your own legitimate home business. 1. Secure your start-up funds. Any successful business owner will tell you that you need to invest money in your business in order to make money. A home business is no exception. Expect to spend a maximum of $5,000 for a legitimate home business opportunity. If the opportunity is sound, you should be able to get back your initial investment within a matter of days or weeks, but you do need that initial investment. 2. Get high-speed Internet. If you don't already have DSL or a broadband Internet connection, you should have it installed. The best home business opportunities are Internet based, so you need reliable and speedy Internet access. 3. Find the right opportunity. Like every other person, you have a unique set of strengths and weaknesses. Find a legitimate home business that draws on your strengths. If you aren't a salesperson, for example, stick with a home business that doesn't require you to make cold calls. 4. Get support. Launching your own business can be a daunting prospect, so be sure that you have the support you need. Look to family members and friends for encouragement, and look to the company with which you affiliate to provide you with a sense of community. 5. Take advantage of available resources. Unless you are a seasoned entrepreneur, you probably aren't aware of the nuances of running a business. The home business opportunity you choose should have a number of resources available to you, so take advantage of them. These resources might include a back office set-up, daily or weekly conference calls, and online tutorials. 6. Key in on marketing. The success of any business, whether a brick-and-mortar store or an Internet-based business, is marketing. The bottom line is, if people don't know about your business, you'll never turn a profit. Take full advantage of the marketing tools and advice that you're provided. 7. Set up a wok schedule. The wonderful thing about being able to work at home is the flexibility that comes with it. However, setting your own work hours doesn't mean that you don't have to work. It's helpful - particularly when you're starting out, to schedule your work hours as though you were going in to a "regular job." In doing this, you'll ensure that you put in the time necessary to make your business succeed. 8. Minimize any distractions. If you've never worked from home before, it's easy to divert your attention from the task at hand. While you're working, close the doors of your home office, turn down the ringer on your home phone, and vow not to check your personal email. Forget the laundry and the errands, and concentrate on your business. 9. Keep good records. It may not seem important know, but come tax time, you'll need financial records of all of the expenses and income associated with your home business opportunity. Some people use a spreadsheet, while others use special accounting software. Either way, keep track of everything, and keep your receipts. 10. Have fun! Having the knowledge that you're working toward your financial freedom while being able to work at home in a legitimate home business is incredibly rewarding. Always keep your goals in mind, and have fun creating a stable future for you and your family.