Five Ways to Build Amazing Team Culture!

5 Ways to Build an Extraordinary Team Culture

When your employees work together to achieve common goals, everyone wins--you, your business and your customers.

Employee teams are one of the best ways to get things done in any business. When you take a group of independently talented people and create a team in which they can merge their talents, not only will a remarkable amount of energy and creativity be released, but their performance, loyalty and engagement will be greatly improved.

Here are five steps for building an extraordinary team culture:

1. Create a Team-Oriented Organization

Make teamwork one of your core company values, and put a clear emphasis on self-managing teams that are empowered to make their own decisions. Don't just talk about teamwork. Show your employees the seriousness of your commitment by giving teams the authority to get their jobs done on their own terms, while ensuring they accept responsibility for the results.

2. Assign Serious Team Goals

Give your teams really important assignments and projects, not just planning for next summer's annual company picnic. Bring teams in when you're looking at new trends in the market, or need to see things through new eyes. It's important to mix it up and not have the same people making the same decisions all the time. Ask them to challenge the status quo and the conventional wisdom. This will help to keep your company fresh and ahead of the game.

3. Encourage Informal Teams

More work in organizations is accomplished through informal teams than formal ones. It's therefore in your interest to encourage the proliferation of informal teams throughout your company, addressing any and all issues and opportunities that capture their interest. When your employees are able to tackle concerns themselves, without elevating every little decision to top management, you'll have a much more efficient organization.

4. Cross-Train Employees

When employees understand how different areas of the company work, they are more apt to make decisions that benefit the company as a whole, rather than solely their own department or group. Give your employees the opportunity to learn other people's jobs. Some organizations go as far as switching employee roles on a daily, weekly or monthly basis. And don't forget your managers. Have top executives spend a few days working on the front lines with customers or directly with your product. They'll have a new appreciation for what your regular employees go through on the job.

5. Provide Team Resources

No matter how talented a company's individuals might be, teams cannot be successful without the proper resources. Teams need a designated and available place where they can regularly meet. Nothing much can be achieved in an over-crowded lunch room. All employees need to be given adequate time to devote to their team meetings, with no grief from supervisors. And make sure to supply your teams with an appropriate budget if required, and the permission--with guidance--to spend it as they see best for the company.

BY PETER ECONOMY

Four Effective Ways to Solve Problems

The 4 Most Effective Ways Leaders Solve Problems

With as many problems as we are all faced with in our work and life, it seems as if there is never enough time to solve each one without dealing with some adversity along the way.  Problems keep mounting so fast that we find ourselves taking short-cuts to temporarily alleviate the tension points – so we can move onto the next problem. In the process, we fail to solve the core of each problem we are dealt; thus we continuously get caught in the trap of a never-ending cycle that makes it difficult to find any real resolutions.  Sound familiar?

Problem solving is the essence of what leaders exist to do.  As leaders, the goal is to minimize the occurrence of problems – which means we must be courageous enough to tackle them head-on before circumstances force our hand.  We must be resilient in our quest to create and sustain momentum for the organization and people we serve. But the reality of the workplace   finds us dealing with people that complicate matters with their corporate politicking, self-promotion, power-plays and ploys, and envy. Silos, lack of budgets and resources, and many other random acts or circumstances also make it harder for people to be productive. 

Competitors equally create problems for us when they unexpectedly convert a long-standing client, establish a new industry relationship, or launch a new product, brand or corporate strategy.   Mergers & acquisitions keep us on our toes and further distract us from solving existing problems by creating new ones.

As Karl Popper, one of the most influential 20^thcentury philosophers of science, once eloquently stated, “All life is problem solving.” I’ve often contended that the best leaders are the best problem solvers. They have the patience to step back and see the problem at-hand through broadened observation; circular vision. They see around, beneath and beyond the problem itself. They see well-beyond the obvious. The most effective leaders approach problems through a lens of opportunity.

Leaders who lack this wisdom approach problems with linear vision – thus only seeing the problem that lies directly in front of them and blocking the possibilities that lie within the problem. As such, they never see the totality of what the problem represents; that it can actually serve as an enabler to improve existing best practices, protocols and standard operating procedures for growing and competing in the marketplace. They never realize that, in the end, all problems are the same – just packaged differently.

A leader must never view a problem as a distraction, but rather as a strategic enabler for continuous improvement and opportunities previously unseen.

When I launched my first venture in the food industry, we had a problem with the adhesion of the labels to the glass jar packaging of our products that affected nearly 20% of an initial shipment.  As circumstances would have it, this was the first shipment to a new client that was “testing” our new products in 200 stores with an opportunity to expand our distribution to over 2500 stores nationally.  Instead of panicking, we took a problem solving approach that involved multiple steps and resulted in a full-blown change management effort with our label supplier, manufacturer, trucking company and client.  Rather than viewing this problem simply as a hurdle that could potentially lose us the client, we took proactive measures (and a financial investment) to show our new client that we were capable of not only solving the problem – but earning their trust by responding promptly and efficiently  with a comprehensive step-by-step incident report that included our change management efforts.

This experience taught us many lessons about our company and helped us to avoid many unforeseen problems.  The ROI from how we handled this problem helped open our eyes to many elements that were previously being overlooked – and in the long run it helped enable us to grow the business.

Whether you are a leader for a large corporation or a small business owner, here are the four most effective ways to solve problems.

1.  Transparent Communication

Problem solving requires transparent communication where everyone’s concerns and points of view are freely expressed. I’ve seen one too many times how difficult it is to get to the root of the matter in a timely manner when people do not speak-up.

Yes, communication is a fundamental necessity. That is why when those involved in the problem would rather not express themselves – fearing they may threaten their job and/or expose their own or someone else’s wrong-doing – the problem solving process becomes a treasure hunt. Effective communication towards problem solving happens because of a leader’s ability to facilitate an open dialogue between people who trust her intentions and feel that they are in a safe environment to share why they believe the problem happened as well as specific solutions.

Once all voices have been heard and all points of view accounted for, the leader (with her team) can collectively map-out a path toward a viable and sustainable solution.  As fundamental as communication may sound, don’t ever assume that people are comfortable sharing what they really think. This is where a leader must trust herself and her intuition enough to challenge the team until accountability can be fairly enforced and a solution can been reached.

2.  Break Down Silos

Transparent communication requires you to break down silos and enable a boundary-less organization whose culture is focused on the betterment of a healthier whole.   Unnecessary silos invite hidden agendas rather than welcome efficient cross-functional collaboration and problem solving.

Organizational silos are the root cause of most workplace problems and are why many of them never get resolved. This is why today’s new workplace must embrace an entrepreneurial spirit where employees can freely navigate and cross-collaborate to connect the problem solving dots; where everyone can be a passionate explorer who knows their own workplace dot and its intersections.  When you know your workplace dot, you have a much greater sense of your sphere of influence. This is almost impossible to gauge when you operate in silos that potentially keep you from having any influence at all.

In a workplace where silos exist,  problem solving is  more difficult  because you are more likely dealing with self-promoters – rather than  team players fostered by a cross functional environment..  When you operate in a siloed environment where everyone wants to be a star, it becomes increasingly difficult to help make anything or anyone better. This is when problem solving becomes a discouraging task.

Breaking down silos allows a leader to more easily engage their employees to get their hands dirty and solve problems together. It becomes less about corporate politicking and more about finding resolutions and making the organization stronger.

3.  Open-minded People

Breaking down silos and communication barriers requires people to be open-minded.  In the end, problem solving is about people working together to make the organization and the people it serves better. Therefore, if you are stuck working with people that are closed-minded, effective problem solving becomes a long and winding road of misery.

There are many people in the workplace that enjoy creating unnecessary chaos so that their inefficiencies are never exposed. These are the types of people (loafers and leeches) that make it difficult for problems to get solved because they slow the process down while trying to make themselves look more important.  Discover the lifters and high-potential leaders within the organization and you will see examples of the benefits of being open-minded and how this eventually leads to more innovation and initiative.

Open-minded people see beyond the obvious details before them and view risk as their best friend. They tackle problems head-on and get on with the business of driving growth and innovation.  Close-minded employees turn things around to make it more about themselves and less about what is required to convert a problem into a new opportunity.

With this explanation in mind, carefully observe the actions of others the next time you are dealt a real problem.

4.  A Solid Foundational Strategy

Without strategy, change is merely substitution, not evolution.  A solid strategy must be implemented in order to solve any problem.  Many leaders attempt to dissect a problem rather than identify the strategy for change that lies within the problem itself.

Effective leaders that are comfortable with problem solving always know how to gather the right people, resources, budget and knowledge from past experiences. They inspire people to lift their game by making the problem solving process highly collaborative; for them, it’s an opportunity to bring people closer together. I’ve always believed that you don’t know the true potential and character of a person until you see the way they solve problems.

Effective leaders connect the dots and map-out a realistic plan of action in advance. They have a strategy that serves as the foundation for how the problem will be approached and managed. They anticipate the unexpected and utilize the strengths of their people to assure the strategy leads to a sustainable solution.

Never shoot from the hip when problem solving. Avoid guessing. Take enough time to step back and assess the situation and the opportunities that each problem represents. Make the problem solving process more efficient by recognizing that each problem has its own nuances that may require a distinct strategy towards a viable resolution.

You know that you have great leadership in your organization when problem solving becomes a seamless process that enables the people and the organization to grow and get better.  If problem solving creates chaos, you may have a serious leadership deficiency.

Problem solving is the greatest enabler for growth and opportunity. This is why they say failure serves as the greatest lesson in business and in life.  Be the leader that shows maturity, acts courageously, and requires accountability.  Applying each of these lessons can help you become a master problem solver. Each experience teaches us all new things. Embrace problem solving and the many unseen treasures it represents.

http://www.forbes.com/sites/glennllopis/2013/11/04/the-4-most-effective-ways-leaders-solve-problems/

What is Business Development??

Hey Guys,

I found an interesting article about business development and what it means. Adding value to any company is a great way to think of business development! 

“I do biz dev.”

Few times in history have more ambiguous words been spoken.  Ask ten “VPs of Business Development” or similarly business card-ed folks what is business development, and you’re like to get just as many answers.

“Business development is sales,” some will say, concisely.

“Business development is partnerships,” others will say, vaguely.

“Business development is hustling,” the startup folks will say, evasively.

The assortment of varied and often contradictory responses to the basic question of “what, exactly, is business development” reminds me of the way physicists seek to explain what, exactly, is the universe.  With conflicting theories on the nature of black holes and bosons, the ultimate goal for those scientists is a Grand Unified Theory, a single definition that can elegantly explain how the universe itself operates at every level.

Lacking any concise explanation of what business development is all about, I sought to unite the varied forces of business development into one comprehensive framework. And eureka, for I have found it - the Grand Unified Theory of business development:

Business development is the creation of long-term value for an organization from customers, markets, and relationships.

There is elegance in simplicity, but perhaps this definition leaves you wanting more.  At its heart, business development is all about figuring out how the interactions of those forces combine together to create opportunities for growth.  But a theorem requires a proper proof, so let’s break that statement down:

Long-Term Value

First, what do I mean by “long-term value?”  In its simplest form, “value” is cash, money, the lifeblood of any business (but it can also be access, prestige, or anything else a company seeks in order to grow).  And there are plenty of ways to make a quick buck for you or your company.  But business development is not about get-rich-quick schemes and I-win-you-lose tactics that create value that’s gone tomorrow as easily as it came today.  It’s about creating opportunities for that value to persist over the long-term, to keep the floodgates open so that value can flow indefinitely.  Thinking about business development as a means to creating long-term value is the only true way to succeed in consistently growing an organization.

Customers

The “customers” portion of the definition may be slightly more obvious – customers pay the bills.  They are the people who pay you for your products and services, and without them you won’t have any business to develop.  But not everyone is a natural customer for your business. Maybe your product doesn’t have the features I’m looking for.  Maybe your product is perfect, but I don’t even know your company sells it.  Or maybe you’re not reaching me because you’re not knocking on my door.

Markets

That’s because customers “live” in specific markets.  One way to understand markets is by geography – if I only focus on selling in the U.S. but you reside in London,  then you are currently unavailable to me as a customer as I do not currently reach the European market.  But customers also “live” in markets that are defined by their demographics, lifestyles, and buying mindset.  Identifying opportunities to reach new customers by entering into new markets is one important gateway to unlocking long-term value.

Take for example the Pet Owners market.  The customers who live there, of course, are people who own cats, dogs, fish, etc.  Petco is a company that clearly sells to customers who live in the Pet Owners market.  I, on the other hand, do not have a pet.  I don’t live in the Pet Owner market. So what if Petco wanted to sell something to me? Then they’d need to find a way to enter into a market where I do live.  For example, I have red-hair and pale skin and as such, I am prone to spontaneously combusting when exposed to the sun.  Therefore, one market that I “live” in is the Sunscreen Buyers market.  If Petco wanted to sell something to me, perhaps they can find a way to enter into that market by offering sunscreen, hats, or sun-reflecting aluminum foil suits.  Now, determining whether that’s a good idea or not for Petco to do so is a job for the business development team – and another story for another blog post.

Relationships

And then there were “relationships.”  Just as the planets and stars rely on gravity to keep them in orbit, any successful business development effort relies on an underlying foundation of strong relationships.  Building, managing, and leveraging relationships that are based on trust, respect, and a mutual appreciation of each other’s value is fundamental to enabling the flow of value for the long-term.  Relationships with partners, customers, employees, the press, etc. are all critical to the success of any business development effort and as such they demand a bold-faced spot in any comprehensive definition of the term.

So, is business development actually sales?  Is it partnerships?  Is it all about hustling? Well, frankly, yes.  It’s all of the above and as we’ll see in future posts, it’s much more.  It’s a complicated and fascinating discipline that deserves a clear understanding, so that we can marvel at the beauty of a well-done deal as much as the stars.

Check out the full article here!

9 Career Tips You Need to Know in Your 20's

Here are some great tips on how to get your career started off on the right foot while you are young. If you like these check out the full article on Forbes.com!

You’re Talented, But Talent is Overrated - Congratulations, you may be the most capable, creative, knowledgeable & multi-tasking generation yet. As my father says, “I’ll Give You a Sh-t Medal.” Unrefined raw materials (no matter how valuable) are simply wasted potential. There’s no prize for talent, just results. Even the most seemingly gifted folks methodically and painfully worked their way to success.

Pick Up the Phone – Stop hiding behind your computer. Business gets done on the phone and in person. It should be your first instinct, not last, to talk to a real person and source business opportunities. And when the Internet goes down… stop looking so befuddled and don’t ask to go home. Don’t be a pansy, pick up the phone.

Don’t Wait to Be Told What to Do – You can’t have a sense of entitlement without a sense of responsibility. You’ll never get ahead by waiting for someone to tell you what to do. Saying “nobody asked me to do this” is a guaranteed recipe for failure. Err on the side of doing too much, not too little.

You Should Be Getting Your Butt Kicked –Meryl Streep in “The Devil Wears Prada” would be the most valuable boss you could possibly have. This is the most impressionable, malleable and formative stage of your professional career. Working for someone that demands excellence and pushes your limits every day will build the most solid foundation for your ongoing professional success.

People Matter More Than Perks – It’s so trendy to pick the company that offers the most flex time, unlimited meals, company massages, game rooms and team outings. Those should all matter, but not as much as the character of your founders and managers. Great leaders will mentor you and will be a loyal source of employment long after you’ve left. Make a conscious bet on the folks you’re going to work for and your commitment to them will pay off much more than those fluffy perks.

Map Effort to Your Professional Gain – You’re going to be asked to do things you don’t like to do. Keep your eye on the prize. Connect what you’re doing today, with where you want to be tomorrow. That should be all the incentive you need. If you can’t map your future success to your current responsibilities, then it’s time to find a new opportunity.

You Need At Least 3 Professional Mentors – The most guaranteed path to success is to emulate those who’ve achieved what you seek. You should always have at least 3 people you call mentors who are where you want to be. Their free guidance and counsel will be the most priceless gift you can receive.

Pick an Idol & Act “As If” – You may not know what to do, but your professional idol does. I often coach my employees to pick the businessperson they most admire, and act “as if.” If you were (fill in the blank) how would he or she carry themselves, make decisions, organize his/her day, accomplish goals? You’ve got to fake it until you make it, so it’s better to fake it as the most accomplished person you could imagine

Read More Books, Fewer Tweets/Texts – Your generation consumes information in headlines and 140 characters: all breadth and no depth. Creativity, thoughtfulness and thinking skills are freed when you’re forced to read a full book cover to cover. All the keys to your future success, lay in the past experience of others. Make sure to read a book a month (fiction or non-fiction) and your career will blossom.

Check out the full article here

15 Success Principles You Need to Know!

The 15 Success Principles You’ll Never Want To Forget

By Joel on March 12, 2013

You can’t assure success, but you can increase the chances of it happening. After all, opportunity favors the prepared. With the following 15 success principles, you can dramatically increase the chances of success in your life.

1 – Prepare

The first success principle is preparation. It’s the foundation of success. With preparation you create your own opportunities. Once you have all the different elements lined up, it only takes a small opening to realize your goal. At the same time, taking advantage of big opportunities without enough preparation means risking your success, as you’re building without a well-laid foundation.

2 – Do something you love

You have to work very hard whatever it is you choose to do. Your work or your project will dominate much of your time and your life. Therefore, find something that you enjoy doing and do that.

3 – Get started

You have to start somewhere. Today is as good a day as any to start. Get into action today and start moving in the direction you want. Putting it off can only lead to failure, whereas if you start and see an early setback, at least you conquered that setback early on.

4 – Move in the right direction

Keep everything moving in the direction you want. It doesn’t matter if things go slowly initially. As long as the overall direction is favorable, you’ll get where you want to go eventually.

5 – Use the power of dreams and your imagination

What you dream and visualize today will become true tomorrow. You just have to work on turning it into reality. Just as your dreams can only influence your life if you let them, the cities you build in your imagination can only become real if you build them.

6 – Think big

If you set your aim a bit too high you might fall short. If you set your aim too low you might achieve your goal… and miss out on the other opportunities. By thinking bigger, the only limit is what is possible. You’re no longer limited by what you think is possible.

7 – Focus on growth

Seemingly impossible challenges are just cleverly disguised opportunities for growth. If you take those challenges and, in solving them, improve yourself, you’ll find yourself continually moving in the right direction.

8 – Maintain your determination

With enough determination, you can succeed through almost any odds. Enough determination means you’ll find a way no matter the situation.

9 – Set a clear vision

Think through where you’ll want to go. Develop a clear sense of what your final goal is, and keep this with you. By knowing the destination you want to reach, you can continually look at your current path and decide if it’s a route that will help you get where you want to go.

10 – Set goals along the way

A final goal isn’t enough. You need intermediate goals that set the path. These goals should be specific, measurable, realistic, attainable, and timely. These intermediate goals define the steps that you need to take to get to the final one.

11 - Work out plans of action for your work

For each goal, it helps to have plans to reach them. Your plan describes how you can reach each step from where you are, or where you will be. Keep in mind that the future is never certain. Things rarely work out exactly how you plan. Therefore, see these plans as showing one or more possible routes, not necessarily the route you’ll end up taking.
Still, knowing the plan means you can avoid long detours that might compromise your chances of reaching a goal on time — or at all.

12 - Commit to taking action

Once you start going, keep going. Never, never, never give up. If you find an obstacle in your way, chip away at it or go around it. The only way to really fail is to give up. If you keep going you’ll succeed. If you hit the limits of what’s possible, you can regroup and find another way.

13 - Use affirmations

Affirmations are just short, positive, and above all direct phrases in present tense. Things like “I’m getting more and more successful.” The idea is that they reinforce a positive world view. With affirmations, you are defining your own reality. By transmitting a positive world view to your mind, it adopts this view. As your mind adopts this view, it helps shape the world around you to fit it, which means it helps make the world around you one that reflects a reality of you getting more successful every day.

14 - Get rid of negative influences

Avoid harmful influences around you that might shake you from your goal. Keep people and ideas around you that support your success and your belief in yourself.

15 - Be grateful and appreciate what you have

The final success principle is to appreciate what you have already. Realize that — by sheer virtue of the fact that you can be reasonably certain you’ll live from one day to the next — you already have enough. Enjoy it! Appreciate what you’ve achieved so far, and see that what you want, where you’re going, is not what you need or what you must do. Rather, these are things and actions that will make your situation even better.

Article By James Meyer | Addicted2Success.com

13 Things Overachievers Do

13 Things Overachievers Do

 1. They laugh — at themselves. And with others.

2. “They steal stuff.”

I have to come clean right here. This post is completely inspired by Penelope Trunk and her blog post: 15 Things Overachievers Do. Her post is way better, filled with links, and you need to read it, in full, to start 2013 off properly.  Link at the end of this post, too, since I hope you’ll read to the end and then go visit her site and post. I find most of her career posts a huge breath of fresh air in a world of stale content. She has a great sense of humor, too.

Continuing the #2 item, overachievers know they have plenty of ideas, says Penelope, so they don’t care if people take their ideas. And they bend the rules to make their own lives better. They know that ideas are a dime-a-dozen, really, and that execution is what matters.

So, when she says they steal stuff, she is talking about how people build, iterate, incubate on ideas. It is #15 on her list. Like me, for instance, I borrowed a number of Penelope’s ideas, but rounded them out with my own thoughts and attempts at humor.

3. They are notorious list makers. Sometimes they make lists after they complete the task so they can enjoy that feeling of greater productivity. I’m not sure if list makers are more successful in life, but I believe they have more fun putting sticky notes on everything.

4. Their desk is usually clean and everything is organized. They love IKEA because they can buy lots of organizing bins and boxes.

5. They don’t mind when a door shuts. They know that a window might be open. Or they go buy a DeWalt Sawzall and make a door. Seriously, Penelope points out that go-getters know that life is about tough choices sometimes and you have to be willing to give up one thing in order to get something else. 

6. They are not shy about their weaknesses because they are uber-confident in their strengths. Every strength comes with a weakness and if you can share that awareness, that wisdom, with potential employers, or your employees if it is your company, then people will see you as a real person.

7. They get tons of mentoring or coaching. They seek out mentors. Overachievers know that top athletes have coaches for a reason. To get to the top of your game, you need help. You don’t get there alone. They are willing to pay for someone to push them.

8. They don’t write books. The book industry is dead, Penelope reminds us. She points out a post by my Forbes colleague Suw Charman-Anderson: Amazon Is Ripe For Disruption. People who have something to share are putting those thoughts down in blogs. Or, in my mind, in ebooks. Of course, I’m a bit biased as I’m finally finishing a simple book I’m publishing on the Kindle platform about building websites. I’m hoping that books are not yet dead.

9. They don’t let themselves get fat  soft. Soft in any sense of the word. They work out regularly, fanatically, and they take care of their bodies and minds. 12/30/2012 update: My conscience bothered me. My goal in any of my writing is to uplift and encourage people. So I edited this section. My intent was not to target people who are overweight, myself included, but more appropriate is type-A personalities don’t let themselves get soft, in any way, if they can avoid it. You can be skinny and soft, by the way.

10. They like to start things. They like saying they are the “founder” of a project or company or initiative. I’ve seen many overachievers lay claim to being the founder of a hashtag. You know those Twitter tags, such as, #SmallBusiness or #Journalism or #Marketing. Their ego and confidence allows them to take ownership of things that can’t possibly be owned. Many of them love to finish things, too.

11. They ask about you so they can get a turn to talk about themselves. As Bette Midler said as one of her characters after talking about herself for a long time, “Enough about me; What do you think about me?” Ha. They do thrive on being able to tell of their exploits — that’s half the reason (or more) for why they do them. Time is not money; Time is Life. When you listen to an overachiever, you have a choice: You can either hate them or be inspired to your own greatness by listening to all they have achieved.

12. (Speaking about Goals) They are rabid about lists because they are crazy about achieving their goals. Uh, hello, that’s why the word “over” is in front of achiever. They have a bucket list for life, for each year, and perhaps each week. Many of their goals include a fair amount of adventure-seeking and the stuff that takes them out of their comfort zone. Because that’s where stuff gets done — outside the comfort zone.

13. They have an “I Love Me” wall in their home or office. That’s what we used to call it when I was in the US Air Force. Every officer or NCO that had an office would have all of their awards and commendations displayed for all to see. Awards are like a list in 3D — you can hang that item on the wall instead of checking it off a list.

But this award mania isn’t bad — it is one of the ways overachievers keep score for themselves. They are out to change the world. And, in reality, the best and brightest overachievers are not competing with you, but only themselves. They are happy for you to succeed and often want to help you achieve, too. Just as long as you spend a bit of time listening to how they helped you get there…

You can find the original article from Forbes.com HERE 

Richard Branson's 5 Steps to a Presentation

This interview with Richard Branson is very relevant to the main principles we teach at Wisdom Executives during training. Although we are not trying to start a new company each day, we have the opportunity to show customers why they should choose our client over the competition. Keeping explanations simple, being confident during presentation and avoiding vague language and doubt words are all key skills that can be used in any situation, whether it be with a potential customer or future investors.

“When billionaire entrepreneur and Virgin Group founder Richard Branson had the idea of launching Virgin Atlantic, he pitched it to his fellow directors who had no previous experience in the airline business. He delivered the idea simply, concisely, and effectively. Branson offers leaders and entrepreneurs this advice: “It is vitally important to present a clear, concise plan that investors can easily understand and repeat to their own people. In the first meeting avoid overly complicated, numbers-laden presentations.”

Branson is a master marketer and communicator. His new book, Like a Virgin, reveals “secrets they won’t teach you at business school.” Many of those secrets involve effective communications and presentations.
In his book, Branson recommends that entrepreneurs who are looking to raise money in these tough economic conditions keep their presentations simple and memorable. He says that the best investment pitches hit five areas. I would take his advice one step further. I believe that any effective pitch or presentation should include these five components.

What’s in it for them?
“Occasionally, an entrepreneur hoping to launch their first business puts so much thought into the concept that he or she neglects the financial and legal plan—and unfortunately, this often becomes apparent early in a meeting, when an investor can lack clarity in what exactly the proposed deal is going to look like.”
According to Branson, investors want to know when they can expect to see a return—what’s in it for them. In my first class at Northwestern’s Medill School of Journalism, my instructor said, “Always ask yourself, ‘why should my readers care?’” I use this journalism principle to teach the art of corporate storytelling. Branson asks the same question of entrepreneurs who pitch him.

Be concrete.
“Winning the trust of an investor means demonstrating a thorough knowledge of your concept or industry and laying out a step-by-step plan for offering something that’s new, innovative and will deliver healthy returns on their investment.”
Branson recommends that communicators avoid ‘wishy-washy’ language, doubt words and phrases such as “It is hoped…”or “With some luck…” He says look your investors in the eye and be specific, concrete, and confident. One way to craft a concrete and confident story is to use a message map.

Be unapologetically disruptive.
“Emphatically explain how your new company will give your customers a better deal than your competitors.”
The key word here is ‘emphatically.’ Branson is unquestionably the most passionate business leader I’ve had the pleasure to interview. I believe his passion for disrupting the status quo is a key component of his charisma. The majority of business leaders who I’ve met underestimate the role of passion in delivering presentations. Branson looks for passionate entrepreneurs who understand the competition and “irreverently explain” why their business will do better than the competition.

Prove that growth is sustainable.
“Nothing stays the same for long, so explain how you plan to tackle the inevitable technological changes and market shifts that are heading your way.”
Investors and partners want proof that you understand the environment in which you will be selling your product. One way to get your idea across is to start with a problem before the solution. Every great story has a protagonist. Introducing the villain (problem) before the hero (solution) makes for a compelling business narrative. So take some time to explain how your product or service solves the problem.

Demonstrate bench strength.
“Show prospective investors that you have found the right people to work at your new company.”
I’ve seen investor pitches where CEO’s or founders feel as though they have to carry the show. The best and easiest way to show investors that your company has bench strength is to share the stage. Apple executives—Tim Cook and Steve Jobs—have always done this brilliantly.
The subtitle of Branson’s book is, “Secrets They Won’t Teach You At Business School.” When it comes to communications, he’s right. I’ve spoken to several MBA programs at America’s most prestigious universities. After every presentation students approach me and say, “We never learn stuff like this in class.” It’s time they do.