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December, 2013

Management Dashboard: Is it of Value?

A management dashboard informs executive management on the state of the business and, when necessary, report alerts on key production, sales, quality, revenue or profit performance so that timely and accurate decisions can be made in running the business. This type of management tool is fundamental to the running of any high performing business. Surprisingly, many businesses operate without even an elementary management dashboard.

Check List
Why is this?
If the dashboard provides a regular (daily, weekly, monthly) detail snapshot of the business why don't more business leaders commit to their development and implementation into their management practices? The following lists a few reasons I most often hear when I ask about the absence of a dashboard in running the business.

  • Sensitivity over revealing internal information, even to a key management team, that might be leaked to a competitor.
  • Company data and accounting systems have not been organized to report meaningful data.
  • Owners that feel they are . . . read more.
Mike Brice
Phone: (206)226-1617

Feature Article

For all the time executives spend concerned about physical strength and health, when it comes down to it, mental strength can mean even more. Mental strength can include tenacity, "grit", optimism and the ability to "fail up." Cheryl Conner discusses the critical characteristics of what mentally strong individuals do not do.

Here is a list of the 13 things strong people avoid:
  1. Waste time feeling sorry for themselves.
  2. Give away their power.
  3. Shy away from change.
  4. Waste energy on things they can't control.
  5. Worry about pleasing others.
  6. Fear taking calculated risks.
  7. Dwell on the past.
  8. Make the same mistakes over and over
  9. Resent other people's success.
  10. Give up after failure.
  11. Fear alone time.
  12. Feel the world owes them anything.
  13. Expect immediate results.
Click here to read the complete article.
Note: Ask yourself the following questions.
  • Do you focus on developing your mental approach to your job?
  • Do you mentor those in your organization to avoid the 13 things to avoid?
  • Do you coach others in your organization to be mentally strong?

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

Leadership Resources
Credibility: Sam Bacharach, director of the Cornell Institute for Workplace Studies, explains how to get people to believe in your leadership and expertise.
How to Earn Credibility as a Leader (1:56 min)

Sales and Marketing Executive Dashboard: You need to define, track, and report on KPIs and metrics for sales & marketing.
Sales and Marketing Executive Dashboard (2:05 min)

Leadership: Our concept of leadership is fundamentally flawed, says author and organizational consultant Steven Snyder. "There is myth…that it's possible to be a perfect leader. We compare ourselves against an impossible standard, and when we fall short, we conclude that there is something wrong with us.”
The Leadership Myth That's Holding You Back

Personal Development: You must take 100% responsibility for your life. While it sounds easy in theory, in execution it's difficult. We make excuses instead of taking ownership over things we can control.
Five Business Lessons From Marathon Training

Social Media: On social media, originality in advertising actually has found a new canvas, a new playground to explore. And the profession itself is being redesigned in real time.
Don't Waste Money - Make Your Social Media Advertising Smarter, More Original, More Effective

Business Valuation: It's not uncommon to be asked by a business owner, "why should I bother with a business valuation?" Sometimes the question is because of concern over the cost of an appraisal, sometimes because of the time involved and sometimes simply because the business owner sees no purpose in the exercise. Why bother valuing a family business when the owner plans to pass the business on to the next generation anyway?
Why Should I Bother Valuing My Business?

Marketing: As commerce becomes increasingly digitized and customers become increasingly sophisticated, I spend plenty of hours trying to get my business clients to understand which marketing strategies make sense for them. My wife and I hosted a good old-fashioned garage sale over a recent long weekend, and I was amazed - and amused - at the lessons I relearned. They're easy to forget these days. Here’s a handful: 
Marketing Lessons From a Garage Sale

Brain Storming: I recently came across a newly-published book, SmartStorming, which got me thinking about the dozens of brainstorming sessions in which I've participated.  Here's my take on what worked:
How to Brainstorm: 9 Easy Rules

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