Bottleneck Blog

Drive, Develop, Decide, Deliver

2010-01-30T13:46:00.005+01:00

The current CEO of Fiat, Mr. Machionne says he had to fire all the managers that did not exhibit business acumen when he came on board. All the managers at Fiat need to live up to the motto of Mr. Machionne's four D's: drive, develop, decide, deliver. He clearly cannot leave engineers, without a business mindset, in charge of his business.

Doing Something Good For Someone Else

2010-01-17T13:22:00.004+01:00

Value creation comes from meeting customer needs. You could say that the purpose of business is doing something good for someone else, either for profit or nonprofit depending on organizational objectives. This is reflected in our company's motto: "We create value together with our partners and a better, everyday life for our customers." I am even thinking about the purpose of life in a similar way; creating value equals doing something good for someone else.

Make Good Use Of Your Time

2010-01-16T08:02:00.002+01:00

Focus in on the relatively few things that are really important. The secret is to do things in the order of their importance. The “80/20-rule” determines that the relationship between cause and effect is non-linear. There are a few vital efforts that generate most parts of a result. Start applying the 80/20-rule actively in your life. Remember that 20% of your efforts generate 80% of all your results. Focus on income generating activities and delegate everything else as much as possible.

Unlock Your Ideas Through Creative Thinking

2010-01-15T08:05:00.001+01:00

Take time to think! Book a meeting with yourself each week. There are many ways to develop your creativity. This skill is not something we are born with but rather something that can be developed over time. Work with metaphors and use them to describe your ideas. Put your subconscious mind to work. Seek out new perspectives. Learn to think outside of the box. Turn the business logic upside down by trying the logic from another industry.

Relationships Make Things Happen

2010-01-14T08:01:00.000+01:00

Yesterday we talked about the bottleneck equation of limited resources. Relationships is the multiplier in this equation. Relationships have to do with influence. Celebrities attract publicity and draw big audiences. That's why actors, athletes and TV personalities can make a fortune. You too can develop your brand! Network within your industry. Join an association. Establish new relationships every week. In essence, you are the sum of all your relationships, and relationships make things happen!

Money, Time, Ideas And Relationships

2010-01-13T09:16:00.001+01:00

We say that time is money. The reverse is also true; money is time. Imagine that you can convert time, money, ideas and relationships with each other. Imagine there is a fixed exchange rate between these different entities. Can time equal ideas or relationships? Can ideas be equal to money or time? Of course they can! I call this the bottleneck equation of limited resources: money = time x ideas x relationships². Invest time, put the right relationships and ideas together and you have a recipe for success.

The Magic Of Attraction

2010-01-12T08:00:00.001+01:00

When you buy a new car, all of a sudden you start to see similar vehicles everywhere. They were most likely there all the time! You just started to notice them when your brain considered them important. When we concentrate on something, our mind is more open to impulses that lead us in that direction. There seem to be an almost "magnetic" power at play when our imagination focuses on something we want to accomplish. Our imagination is a phenomenal asset. If you can conceive it, you can achieve it; that is the magic of attraction.

Bigger Deals Have Higher Emotional Content

2010-01-11T07:47:00.001+01:00

When we buy something, we first buy it emotionally then we try to rationalise it to our own mind afterwards. When we buy a house or a new car this is particularly obvious. The lesson here from a sales perspective is clear; sell the emotion, the experience first then rationalise the benefits.

Sir Richard’s Rules

2010-01-10T00:05:00.000+01:00

In Fortune Magazine (October 6, 2003), Richard Branson is quoted to outline his rules:
#1, Follow your passion

#2, Keep it simple

#3, Get the best people to help you

#4, Re-create yourself

#5, Play

I think I agree with him. Need I say more?

Balancing Your Time

2009-12-17T00:33:00.001+01:00

Most people feel an imbalance between how they actually spend their time and how they would want to spend it. It can be an enlightening experience to write down all your activities for a week on a piece of paper. Then evaluate where you can, and feel you should relocate some of that time into activities that take you closer to your wants and goals.

Everyone Enjoys A Good Story

2009-12-16T09:34:00.001+01:00

Story telling has been an art down through the centuries from the early oral tribal traditions, over ancient Greek rhetoric down to the Hollywood of today. Stories are compelling because they touch not only the intellect but the heart through emotional impact. What about the stories you are telling? Try to put them in context, use descriptive language, make use of vivid examples and explain your position in the drama.

The Trick Of A Good Listener

2009-12-15T00:07:00.001+01:00

The trick of being a good listener is not to sit silent, hold eye contact, nod and grunt the odd "yes" etc. The trick of being a good listener is to remember what was being said next time you meet that person again. Ask questions that show you remember the topics you discussed. The key to attentive listening then is to actively engage the memory functions of your brain.

Think And Plan Ahead

2009-12-14T00:20:00.001+01:00

When I was working in the United States I was asked by my management where I wanted to be two jobs from now. I found that to be an intriguing question. Ask yourself today: where do I want to go, who do I want to be, relate to and work with three to five years from now? Once you've described your future it is easier to start planning and prepare for it.

The Power Of Compound Interest

2009-12-13T00:01:00.001+01:00

Albert Einstein is reported to have said: “Compound interest is the most powerful force in the universe.” Regardless of whether he did or not, there is an interesting element of truth to it. You can become a millionaire in your lifetime through compounding. If you can only save one dollar a day and invest it at 12% interest you will have $ 1M in fifty years. The keys are: start saving, convert the savings into investments, start early in your life and/or plan on getting really old and you can become financially independent in your lifetime.

Do Your Homework First

2009-12-12T00:02:00.001+01:00

When you call on a new customer, get some research done on the company you are calling on. What are they selling? How do they position and promote themselves? Make a note to remember the names of the key individuals of the firm. If you want to be brilliant check out some of their key competitors and see how your client differs from them. Armed with these insights you will be sure to make an impression as well as a sale.

Goals That Excite You

2009-12-11T00:02:00.001+01:00

We have all heard about S.M.A.R.T. goals, haven't we? Sometimes they are not the smartest goals after all. The real purpose of a goal is to get you turned on! Ask yourself what would really get you excited and make that your goal. You want what you want regardless of whether you think you can have it or not. Focus on the goals that get you excited!

Dream Big, Act Small

2009-12-10T10:21:00.000+01:00

It is great to have big dreams and a great vision of the future. I think everyone should develop a compelling vision for their life and their organisation. However, it is also important to get down to action, and take the next small step. Lower your sight and set smaller targets for yourself on your way to your big dream.

Losers, Dreamers, Quitters and Winners

2009-10-12T17:02:00.000+02:00

Some people make a decision and then back off from it when the going gets tough. We call them quitters. Some people continuously hope for a better tomorrow. We call them dreamers. A few people don't care and give in to procrastination and indifference. We call them losers. Don't be like any of them! Discipline yourself to persistently stick to your decisions through a hot desire to succeed and we will call you a doer.

A Successful Meeting Outcome

2009-12-05T04:59:00.001+01:00

A meeting is successful if: everyone comes out of the meeting inspired and motivated with a clear sense of responsibility, sharing a clear understanding of the objectives and targets discussed and agreed in the meeting. Next actions have been clearly communicated and documented and everyone knows exactly what they need to do, by what date. Are these bases covered in the meetings you attend?

Attracting And Maintaining Customers

2009-12-04T07:59:00.001+01:00

The purpose of a company is to attract and keep customers. Your job in sales is to upgrade the quality and sophistication of your sales process and your approaches to create customers in sufficient quantity. To maintain the customer over time you can't be self centred. You must focus on the needs of other person. Remember the saying: "If you want a friend get a dog. If you want a customer solve his problems."

Do Not Say Not

2009-12-03T00:07:00.001+01:00

The other day a friend of mine, an expert in Neuro Linguistic Programming, told me that our brains can not comprehend "not". He told me that sales people trying to close a sale with a negative question, like for example; "Could you not just consider trying this out?" can easily double their closing rate by just switching their language into the positive. This is good advice for all of us. We should talk in a way to make it easy for the brain to comprehend.

Tackle The Toughest Task First

2009-12-02T00:38:00.001+01:00

When you start your day, take a look at all your important tasks, pick the most difficult and start by attacking that first. Stay with the task until it is completed. Then pick the next one and so on. This way you stay focused on the important stuff, you have less to worry about and get a sense of accomplishment. This way you keep your energy level high for the duration of the day and can finish with smile on your face knowing you did your best.

Focus On Who You Become

2009-12-01T00:33:00.001+01:00

Rather than concentrating on what you want to get out of life, it is very powerful to concentrate on who you want to become and what behaviours you need to develop do in order to get you there. For example; don't focus on making a lot of money, instead focus on becoming the type of person people want to do business with. This way attraction will come naturally as a result.

The Medical Procedure To Sales

2009-11-30T00:06:00.001+01:00

In medicine a doctor follows a procedure he has learned in school. First comes examination, investigating symptoms and gathering information from the patient. Secondly there is diagnosis determining what is wrong with the patient and finally there is prescription telling what the patient has to do now to get well. It turns out this is very much like the selling process. With practice you too can become a surgeon of sales.

Do Unto Others...

2009-11-29T00:08:00.001+01:00

There is an extension to the classical golden rule, sometimes referred to as the "Platinum Rule", propagated by Dr. Tony Alessandra; and it goes like this: "Do unto others as they want you to do unto them". In other words, treat people like they want to be treated. People have different personalities and come from different backgrounds. Particularly in one-to-one situations this suggests that in order to communicate more effectively we need to be good at adapting to the other person.