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April, 2013

Five Passion Principles for Business Success

A unique ingredient in the success of many companies is the level of passion possessed by the leader and their ability to transfer that passion into the daily activities of the organization.

While some companies may have superior employees based upon academic background and accomplishment, and great product technology that differentiate them in the market; it is passion that is at the core of the secret sauce that successfully drives the business toward its vision.

It can be said that:

  • Passion is critical to success.
  • Passion can propel an average business ahead of its competitors because everyone is motivated by a belief that they are offering the best, serve the best, deliver the best and support the best.
  • Passion is contagious and when it is demonstrated from the top of the organization can reach all corners of the organization.
  • Passion is not something you get out of a book.
Passion is an intense emotion, a compelling feeling, enthusiasm, or desire for something. It is something that will drive you to think about wanting something as soon as you wake up in the morning and as you go to sleep that night. Passion can motivate you to . . . read more.

Mike Brice
Phone: (206)226-1617

Feature Article

Nearly three hundred years ago, Benjamin Franklin came up with an approach to changing habits that has yet to be surpassed. A young adult seeking to straighten out his act, Franklin developed a list of thirteen virtues, jotting down a brief definition of each. These were character traits he took to be important, but in which he found himself lacking. He knew that nurturing these habits would bring about positive change in his life.

Modern psychologists recognize three key elements in Franklin’s three-hundred-year-old procedure for changing habits:

  • He started out committed to the new behavior.
  • He worked on only one habit at a time.
  • He put in place visual reminders.

Here are the 12 time management habits that Ben Franklin developed:

  1. Strive to be authentic.
  2. Favor trusting relationships.
  3. Maintain a lifestyle that will give you maximum energy.
  4. Listen to your biorhythms and organize your day accordingly.
  5. Set very few priorities and stick to them.
  6. Turn down things that are inconsistent with your priorities.
  7. Set aside time for focused effort.
  8. Always look for ways of doing things better and faster.
  9. Build solid processes.
  10. Spot trouble ahead and solve problems immediately.
  11. Break your goals into small units of work, and think only about one unit at a time.
  12. Finish what's important and stop doing what's no longer worthwhile.

Read the article for more information on each behavior that leaders use to be successful.

Click here to read the complete article.

Note: Ask yourself the following questions.
  • How many of these behaviors have I successfully adopted?
  • How much time have I committed to applying these methods in my job?
  • How much more efficient would I be if I successfully used 4 of these methods?

If you are looking for guidance on employee development contact Mike to learn about the Executive Coaching services available from Brice Consulting for you and your organization.

Management Resources
Workflow: What is Workflow Management? Watch this short animation and find out.
Workflow management: Visualized (6:33 min)

Strategy: Renée Mauborgne: How to recreate the structure of your industry.
Blue Ocean Strategy, Create New Markets and Leave the Competition Behind (6:02 min)

Career: Jack Welch: A strategy that allows you to always be ready to start from scratch.
Destructuring Your Career (2:06 min)

Work-Life Balance: As a time coach, I talk to people who want to live a more balanced life on a daily basis--including startup founders. It can be a struggle, but my real-world experience has uncovered that yes, founders can achieve work-life balance -- IF all five of the following conditions are met:
Can Founders Ever Achieve Work-Life Balance?

HR Services: There's a technology-driven revolution happening in HR these days. It's called self-service and it gives employees more power over their careers. This leads to more engaged, empowered and productive teams.
5 Attributes of a World-Class Workforce

Strategy: For those of you out there who like to gleefully smirk about "strategy"; let me explain it immediately here at the start (and hopefully once and for all): Strategy is a necessary condition for success. But it is not a sufficient condition -- we (strategy professors) are not that stupid.
Strategy Is Necessary but Not Sufficient

Turnarounds: When Hala Moddelmog took over 48-year-old sandwich chain Arby's in 2010, sales had been falling for years, profits were down and the then-parent company Wendy's/Arby’s Group posted a $4.3 million loss. However, in the last three years, she's led an aggressive turnaround plan that's starting to pay off. Arby's has had nine consecutive quarters of same-store sales increases and year-over-year profit growth of nearly 85%.
The Hiring Secret Behind Arby's Turnaround Success

Communication: This will be a short post because if it weren't, I'd be guilty of doing what I'm telling you to avoid.
Rule No. 1: Get to the Point

Goals: My only goal when I first launched Formula was to ensure that I made enough money to survive the subsequent month, with little to no forward thinking or planning. Unfortunately, I think that many business owners still think that way regardless of their size, revenue or business offering. When I finally made the commitment to do some future business planning, it included many short and long-term benefits, including ensuring that my senior executives understood what we were trying to accomplish and the roles they would play in helping us get there.
4 Reasons You Need to Set Business Goals

Assessment: Use this quick-assessment to evaluate how effective your financial reports are in assisting you in managing your business.
An assessment checklist for CEOs

Sick Leave: Do employees have the right to paid sick days?
Are Small Businesses Suffering From Paid Sick Leave?

Marketing: When you commit to marketing your business consistently over time, you begin to benefit from something very similar to compound interest or the snowball effect. 
The Key to Marketing: Don't Flip Flop

Partnership: My apprentice of four years has proved to be a valuable asset and I like working with her, as we have the same business ethics. Should I make her a partner in my business?
When to Make an Employee a Business Partner

Healthcare: I have many older employees and pay a lot for health insurance because the cost is determined by the age and health of my employees as a group. What if half of my employees opt not to take the coverage our company offers?
Cutting Health-Care Costs for Aging Employees

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