A Business Plan 2007 Round-Up

I recently returned from Loan Toolbox’s Business Plan 2007 conference and I want to tell you about a few of the inspiring speakers and sessions I experienced. Below are some of the highlights that made a lasting impression on me.

Tony Robbins kicked off the event and he motivated me right from the start by reminding us that peak performance comes from being in a “peak state”, and that the single most important responsibility of management is to do a better job of managing the positive state of our team.

He also reminded us that the key to success comes from the power of influence.

Robbins’ Laws of Success:

1. Raise your standards — turn your shoulds into MUSTs;
2. Change your beliefs;
3. Get the best strategies and model what works;
4. Increase your emotional intensity; and
5. Give more than you expect to receive — the secret to living is giving.

Be aware of your feelings. Robbins said that “your focus equals your feelings” — what you focus on equals who you are and how you respond to others, and that “the emotions you live equal the quality of your life.”

Try this exercise he gave us:

• List your most common positive emotions.
• Now list your most common negative emotions.

Which way would you liked to be perceived? Which ones do you think obtain better results? He says:

• Progress equals happiness;
• Obstacles give us challenges;
• Success is a science, but fulfillment is an art; and
• The keys to fulfillment are appreciation and contribution.

This is Robbins’ success cycle:

Potential >> Action >> Results >> Beliefs/Attitudes >> Potential >> Action >> Results >> Beliefs.

Listening to Tony Robbins’ presentations made me want to revisit his book — “ Awaken the Giant Within: How to Take Immediate Control of Your Mental, Emotional, Physical and Financial Destiny!” I have read his books in the past and usually re-read them every three years.

Dr. Robert Cialdini is trained in the psychology of influence. His website states: “When influence is employed correctly, it efficiently moves people in positive directions.” The key point he tried to impress upon us was that becoming an agent of influence is the greatest power.

He teaches that success is based on five principles that govern the ethical use of influence:

• Reciprocation– You, then me, then you, then me. Be the first to give: service, information and concessions. And make it genuine. Reciprocation should be meaningful, tailored and unexpected. Most sales trainers think the golden rule of sales is to make the customer like you – but he suggests that the first goal is to “like the customer”, then get the customer to like you. He reminds us that 30 seconds is all we have to win trust and respect.
• Scarcity– The rule of the rare. Emphasize genuine scarcity, unique features, exclusive information. People will mobilize action faster if they are going to lose vs. gain—if I can’t have it, I want it. There is a 50% difference between “lose” language vs. “gain” language. There are 45% higher results with “lose” language.
• Authority– Showing is knowing. Establish position through: Professionalism, industry knowledge, your credentials and not admitting weakness first. People believe that if experts say it, it must be true. Credibility equals knowledge and trustworthiness. Start with weakness and then mention the top features.
• Consistency– The starting point. Start small and build, with existing commitments, from public positions, toward voluntary choices;
• Liking– Making friends to influence people. Uncover similarities, areas for genuine compliments, opportunities for cooperation; and
• Consensus– People proof, people power. Unleash people power by showing the responses of many others, others’ past successes and testimonials of similar others.

The above notes on principles were taken from a pocket guild that Dr. Cialdini passed out to everyone.

The value of the mint
This was one of my favorite stories he told. It was really cool because he explained the impact in a real world sense using a common situation that everyone could understand. Dr. Cialdini was testing how wait staff could increase their tips. He chose a restaurant that wasn’t doing anything for the customer other than basic good service. Then, at the end of the dining experience, he had them add one mint to the bill tray. That simple act increased tips by 6%.

Then, he had them add two mints. This extra little act increased tips by 12%. I was thinking to myself wow, it’s amazing how simple little things can create immediate impact. However, he was just getting started. Next , he had the waiter approach every person at each table and say, “for you nice people”, and individually place a mint in front of every person. This increased tips by 25%! This is a WOW moment!

This simple act of kindness generated huge results. Why? Think back to Cialdini’s principles. Customers were given something, so they felt the need for reciprocity. It was personalized and it was unexpected. It surpassed their expectations and it demonstrated they care. Ask yourself, what simple and easy things can we implement that will create impact using the principles in the story?

The closing keynote was Benjamin Zander , the conductor of the Boston Philharmonic. He is an absolutely amazing individual. He made me think about life and success in a different way.

Here are some of the notes I took:

• “Everything is invented.” Our personal reality and state of mind are invented based on what we focus on. Happiness is always invented — and obviously, if happiness is invented, so is every other emotion.
• In the Universe of Possibilities, the adventure of life is to never know what is going to happen, but to believe that something amazing is going to happen.
• Rule number 6: We should never take ourselves too seriously. (There were no rules 1-5, but he calls this “rule number 6” because it helps people remember!)
• Give an A to everyone. (This is code for give everyone the benefit of a doubt, expect the best in people if you want to see the best.)
• When there is a breakdown in a relationship, it is because one or both isn’t giving the other person an A.
• We should apologize if we haven’t been successful at enrolling others, rather than being mad or disappointed with them. Take personal accountability for the buy-in you get from others…don’t blame them..blame yourself.
• The role of the leader is to remind the players on the team what the rhythm should be.
• When you make a mistake, say out loud “how fascinating”. (This is a positive way to communicate with yourself.)
• One of my favorite quotes is from his father: “There is no such thing as bad weather — just inappropriate clothing. (I love this…don’t think I won’t be saying this one to my kids and wife all the time! J .)

I was so inspired after this session I went straight to the book store on the way home and purchased his book, “The Art of Possibility: Transforming Professional and Personal Life”, by Rosamund Stone Zander and Benjamin Zander . I strongly recommend that you read it. I hope they’ll inspire you, as they did me.