Instead, before interacting with your team, give yourself time to recover, and carefully think through the following questions:
• How much of what I’m upset about is directly within control of my team?
• Are they really the target of my anger?
• Am I angry with my team or just anxious about my job?
• If I blow up, am I really going to move the job along faster, or will I simply create more problems?
• Do team members really understand the full context of my anger and frustration? If they don’t seem to understand the significance of a problem, is it because part of the situation is outside of their visibility?

• Use information you developed yourself. To be completely in control of your own analysis, you may limit source information to that developed within the department. The occasions when you can reasonably do this will be rather limited. Using only your data is practical when your analysis is limited to departmental factors.
• Compare your information to other sources. Many forms of information are easily verified by checking with a second source. Also, the existence of a second source could eliminate unnecessary research for your analysis.
• Review methods for reporting change from one period to another. Be extremely careful in developing any form of analysis involving reporting of changes in factors from one time period to another. There is a vast difference between reporting actual change and degree of change; some methods may distort the truth rather than represent it.
• Be fair. Avoid selecting only that body of information that supports your own bias. Because you are human, you are subject to human error. One form of error is to seek out information that supports the conclusion you have already drawn, or that you would like others to draw. You may do this unconsciously, even when struggling to remain as objective as possible. A good analyst will always remain open-minded to the possibility that basic assumptions are flawed. No one likes to admit this, especially if a number of hours have already been invested in preparing the analysis. But remember, it’s better to catch the error before making a request based on flawed data, than to proceed knowing your claim is wrong.
• Represent the other point of view to add credibility to your report. A decision maker will be impressed by a comprehensive and well-research report. The same decision-maker will be even more especially impressed when you go the extra step: playing devil’s advocate and pointing out arguments against what you’re recommending. This is a powerful technique for strengthening your argument. By presenting arguments against your ideas before anyone else has the chance to do so, you defuse the point, show why and how it’s flawed, and then direct attention back to the argument you really want to make: why your idea should be given approval.
• When results are interpretive, say so in your report. Never let it be assumed that the numbers you present are absolute. If you’re using estimates, disclose that fact in a way that there can be no mistake. And if the numbers were developed from other data in an interpretive form, say this clearly.

If you discover that some team members are walking out the door each day at quitting time while others are pulling two or three hours of overtime, something is wrong. Talk to members to find out whether the problem involves an unbal¬anced workload or a performance problem; then act accordingly.  One way of balancing your team’s workload is through weekly meetings. Ask members to outline their assignments, estimate time commitments for the upcoming week, and suggest ways of reallocating assignments to provide for the fairest possible distribution of work. If members put in a lot of overtime, consider giving them compensatory time off to recover their energy.  Be a strong advocate.

An important tactic for managing stress is to be a strong advocate in representing your team’s concerns to senior managers or other groups. You might also ask your manager to meet briefly with team members to provide them with a broader picture of the changes now under way at your company.

For example:
You: So if I understand you, you’re saying that you like the way I’m managing the bid process, that my documentation is complete and accurate, and that I could do even better if I worked on providing a more timely response to bids. Is that about it?

Inspire the Troops
So here you are, caught in a nutcracker. Your manager is screaming for your group to be more productive and you know that your team’s performance is being scrutinized. You recognize that to meet your organization’s rising performance expectations you will need to gain the full commitment of each of your team members.

In the process of gaining full commitment from your team you are likely to encounter three obstacles.
1. Current changes in the marketplace, including the loss of job security and increasingly stringent performance standards, are forcing a radical shift in how professionals view their jobs.
2. Team members feel that they are already pushing as hard as they can.
3. People are reluctant to move out of their comfort zones.

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Another article about stress management:

Experiencing Stress
Experiencing Stress And Playing With It
Stress Situations Guide -2
Create a Stress Managed Environment

But as unreasonable as it is to ask others and ourselves to waste time, often that’s what budgeting is all about. We stay late every night for weeks and place similar demands on subordinates. We rush to meet deadlines, only to discover that the whole thing is being revised. We make up numbers without any logical reason, and they are accepted without question.

These are the reasons budgeting causes such dread. Everyone knows the budget is a useless waste of time when it is prepared under the usual method. You can change this, however, by suggesting to your management that the budgeting philosophy be changed-that it can be used as a profit center rather than as a waste of time. Your company is constantly looking out for new ways to improve the bottom line. Yet few people realize that the budgeting process itself can be used as a profit center.

The usual process looks like this: weeks of discussion, filling out forms, more discussion, more forms, and, way beyond deadline, a “final” budget. Of course, that final version is changed yet again, so it’s nearly the end of the first quarter before the budget is accepted. In some companies, the budget for the new year is barely finalized when six-month revision work starts.

There is little if any follow-up on the budget. Once the budget is done, there are no meetings to discuss variances and their causes. Or maybe causes are discussed, but no one takes any steps to fix the problem. So it goes on, until the next revision deadline or year-end.

What is wrong with this description? It is not budgeting! It’s only filling out forms and passively finding and acknowledging problems. Lacking are the controls and actions that bring budgets to life, the follow-up, the investigation, and the reversal of discovered negative trends. Without these steps, the budgeting process has only gone a fraction of the way toward achieving its intended purpose.

The task of recordkeeping is usually procrastinated until the very last minute, when it is required. It is time to file your tax return, or time to go to the bank to get a loan for the business and the banker wants to see some financial records for the business. This can be a very daunting and cumbersome task if you have to dig through receipts and expenses for the whole year! No wonder we hate keeping records. That’s no fun!

Well, guess what? If you aren’t keeping good, timely, and up-to-date records monthly, you don’t need to be in business. That’s right. I said it. Here are the top five reasons why I truly believe this statement.

1. Lost tax deductions = Lost Money If you are throwing your receipts in a shoebox each month and not keeping an organized record of your income and expenses, I can bet you money that you are losing out on some major tax deductions. A smart businessperson keeps track of her income (cash in) and expenses (cash out) monthly, sometimes even weekly. You do not need a fancy accounting software package to do this. You don’t even need a computer! Simply keep a journal monthly and log in all of your receipts and invoices, and there you have it.

2. High CPA/Tax Preparer Fees = Lost Money I can speak from personal experience, that if you bring in that shoebox of receipts for the year and expect your tax preparer to record and properly deduct your business expenses on your tax return, you are sadly mistaken. Tax season is the busiest time of year for these professionals. If you expect them to do your bookkeeping and recordkeeping as well, expect to pay for it. They don’t have the time, or the desire to make sure that every receipt is accounted for. As a businessperson, it is your responsibility to make sure they are given the right totals and you can trace it right back to your tax return.

3. Too much time spent looking for receipts The time you spend looking for a past receipt for a particular purchase for whatever reason, you can be utilizing this time in advertising your business or producing your product. These are important money generating activities that you are sacrificing due to your lack of recordkeeping.

4. No financial statements Every business owner should review at least the profit and loss statement (income statement) for their business MONTHLY. This important piece of paper tells you if you are making money or losing money. How can you possibly run your business and make a profit if you are not analyzing your sales and expenses continuously? A good recordkeeping system will allow you to have this information at your fingertips.

5. No need for expensive accounting software If you are just starting your business, or are a small business owner, you more than likely do not need software to prepare your books. A simple journal that is kept monthly of your income and expenses is all you need. At a glance, you will know how your business performed for that particular month.

As a business owner, you need to realize the importance of a good recordkeeping system. This should also be a task that the business owner performs for at least three to six months before delegating the job to someone else. You will be able to run your business more effectively, determine possible cycles in the business year, and know where your money is going. Your business will be much more successful if you keep a simple recordkeeping system.

A question that comes up frequently is about attracting new clients. This is especially true for the business that is just starting up.

Most of us don’t have thousands of dollars just sitting around to use for marketing. But there are several ways in which you can find those first few clients, spending little to no money. Here are a few tips:

1. Simply start by asking. If you are currently employed, ask your current clients how they found this particular practice. In most cases, you will find all the information you need to start marketing. If you are already in your own practice, ask each new person how they found you.

2. You will want to tailor this depending on who you’re ideal client is. Consider contacting the hospital emergency room, stand alone urgent care centers or retail practice, hospital discharge planners, local social service agencies, schools & colleges, physical therapy offices, and gyms to name a few. Call around and see which offices are closed to new patients and let them know you are open. (Make sure you thank them for referrals).

3. Contact your local employers. For example the local Wal-Mart or Home Depot store. These employers, will likely have an occupational health office or a human resource Department. Let them know that you are opening a new practice. As an aside: consider discussing with these large employers their needs for worker health and illness prevention. It’s possible that you may be able to do a vaccine clinic, or meet other occupational health needs.

4. Have a website. I am astounded every day that a new patient tells me they found us on the Internet. Including your website your hours of operation, areas that you specialize in, your philosophy, and a health resources page. More of my patients tell me they use back page more than anything else on her website. We also have our new patient forms ready for download.

5. The one area that I consistently do pay for is an ad in the yellow book directories. That said, look at the various directories that you have available in your community and pick and choose wisely. Not all yellow book directories are equal in how they treat Nurse Practitioners, their billing, and their popularity in the community. However, because of my asking my clients, I have found that many of them to use the directory.

Keep track of your results and adjust your marketing efforts accordingly.

]]> http://www.hechuantimes.com/attracting-new-clients-to-your-business/feed/ 0 http://www.hechuantimes.com/strategic-relationships-in-genentech/ http://www.hechuantimes.com/strategic-relationships-in-genentech/#comments Wed, 02 Sep 2009 13:25:34 +0000 http://www.hechuantimes.com/?p=254 Strategic relationships helped establish Genentech as a leader in the biotechnology industry. Genentech had a fair amount of credibility from its very beginning because its funding came from one of the most respected venture-capital firms, Kleiner Perkins Caufield & Byers. Using that initial credibility, Genentech was able to attract the interest of Eli Lilly, the pharmaceutical giant. The two companies signed a deal under which Genentech would develop human insulin using recombinant DNA technology and Lilly would produce and market the product. This deal gave Genentech production and marketing capabilities it never could have financed on its own. Equally important, the association with Lilly gave the startup an aura of credibility and established it as the technology leader in the infant industry.

While strategic relationships seem increasingly attractive, there are problems. Nothing is an automatic success. There are many factors working against the formation of strong bonds between companies. Perhaps the biggest source of problems between partners is poor communication. Oftentimes things do not get done because each partner believes the other is responsible. When entering into a new relationship, all companies involved need to be explicit about their objectives and expectations. The companies must agree on all details: What is to be done, by whom, and when.

Management responsibilities and financial policies should be clearly stated. In some cases, companies define their markets and goals so differently they always will be in conflict. These types of philosophical differences should be aired and resolved before any agreement is reached.

Antitrust also can be a problem. In light of the economic challenge from Japan and other international competitors, the U.S. government is allowing companies a greater degree of flexibility in structuring alliances. The government has raised no objection to the Microelectronics and Computer Technology Corporation, an alliance of a dozen computer and electronics companies that was formed to share research costs. But other relationships are sure to raise objections. The intent of the partners is the critical factor. Relationships structured to restrict competition are, and should be, unacceptable.

Another problem is that small companies can become overly dependent upon their larger partners. This is similar to the problem faced by military contractors, many of which survive at the whims of the Pentagon. Companies that depend on a single relationship as a primary source of business can end up in big trouble.

MiniScribe, a tiny Colorado company that supplies disk drives to IBM, saw its stock plummet by more than one-third when IBM changed its buying patterns. The situation can be even worse when a large company decides to vertically integrate, developing its own production capabilities for parts that it once bought from outside partners. Small companies must remain aware of where they stand in their partner’s plans, and should never get in a position where their very survival depends on the continuation of the relationship.

Of course, simply establishing the new relationships is not enough. Companies also must know how to capitalize on the links after they are formed. ZyMos is one company that has failed to do that. As a small company manufacturing custommade semiconductor chips, ZyMos needs to convince customers of its reliability. The marketplace is fearful of a small company in today’s environment. All companies are growing so quickly that they need a reliable supplier.

They can’t afford to have their lines shut down.

Strategic relationships are an ideal way to ease these customer fears, and ZyMos has an impressive list of partners. It has technological agreements with many top-notch companies, including Intel and Apple. But ZyMos is still going out and presenting its product on the basis of technical data. ZyMos’s managers came to us and talked for an hour about line widths. That makes no sense. Pitching technology doesn’t work in this environment. ZyMos should be stressing its relationships with Intel and Apple. They have the right relationships, but they’re not using them.

The idea of strategic relationships is not limited to the electronics and computer businesses. It applies to all fast-changing industries. Strategic alliances can be critical in the biotechnology industry. As in the electronics industry, most of the innovation in the biotechnology industry comes from small firms. But bringing products to market is particularly difficult for small companies in biotechnology. Many biotechnology products must gain government regulatory approval. That is a long and expensive process. Few small companies have the resources to wait out the entire process. Teaming up with large companies solves this problem, while also giving the startups much-needed marketing muscle and credibility.

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* See the first posting about this at:
The important of Strategic Relationships

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Indeed, acquisition strategies in technology-based industries have a pretty dismal record. Schlumberger, for example, tried to acquire its way into high technology. The company, a leader in the oil-services business, wanted to gain a foothold in new technologies, so it acquired Fairchild Semiconductor, the pioneer of Silicon Valley’s semiconductor industry. But the strategy backfired. Key employees left the company and Schlumberger’s corporate culture did not translate well to Silicon Valley. Schlumberger’s desired foothold has turned into nothing more than a toehold, if that.

Exxon Corporation’s effort to enter the office-automation market through acquisition of small high-technology companies turned into a disaster.

Western Electric acquired robot maker Unimation in 1982, then saw Unimation’s sales drop sharply. And AM International’s high-technology acquisitions drove it into bankruptcy in 1982.

Clearly, acquisitions are filled with pitfalls. In many cases, large companies would be wiser to buy minority interests in small companies, or sign development contracts with them. These approaches allow the small companies to maintain their culture and entrepreneurial zeal. To better understand the growing need for strategic relationships, it is important to understand the product-development cycle in technology-based businesses. There are many steps between the scientist’s workbench and the assembly line, and no company can handle all steps.

Strategic relationships are needed to bridge the gaps.

*the end.