About Me
- Waltmorey
- Pinellas Park, Florida, United States
- I founded Core Business Solutions with the goal of helping business owners improve operating results, add value, and recapture the energy and passion that was present when the business was new. We also have the expertise to assist start-up companies create the foundational structure needed to provide the best opportunity for the business to grow and prosper in uncertain economic times. Our goal is to help the business entrepreneur/owner, through mentoring and coaching, develop or enhance managerial skills while providing that independent and objective advice and expertise usually provided by a board of directors.
Saturday, May 29, 2010
Difficult Decision? ------Yes - Sleep On It!
7:54 AM | 
Posted by
Waltmorey
It is official! If you have a very tough decision to make - you are much better to 'sleep on it'.
A team of Dutch scientists has come to the conclusion that if you are making a simple and basic choice, like deciding which peanut butter to buy, then a conscious decision is better. However, these same scientists found that as the decision gets more complex and important, you're more likely to make a better quality decision if you 'sleep on it'.
A study in the journal "Science" gave the results of a series of tests which appeared to demonstrate that people who relied only on conscious thought processes tended to perform worse when decisions became more complex than those who were able to 'sleep on it'. The research team explained that the problem with conscious thought is that the brain can only focus on a few things at the same time, which can lead to some aspects being given undue importance.
Lead researcher Dr. Ap Dijksterhuis said "The take home message is that when you have to make a decision, the first step is to gather all the information necessary for the decision. By going through this collecting process you begin to break down all the different parts of the decision as you think about each part of the information you need."
Once you have all the information, you have to decide and this is best done with conscious thought for simple decisions, but left to unconscious thought - to 'sleep on it' - when the decision is complex.
William Golding said "Sleep is when all the unsorted stuff comes flying out as from a dustbin upset in a high wind."
Jonathan Schooler of the University of British Columbia in Vancouver told Science that "too much (conscious) reflection could be detrimental in some situations."
Strategic planning for a business involves many complex decisions that should be reviewed and thought through over time and this is why I explain to anyone who is doing business planning of any kind to understand that this 'is a process, not an event.'
In about 2-3 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.
Until Next Time : Live Simply, Speak Kindly, Care Deeply, Love Generously and Live In The Moment
All The Best,
Walt Morey
Core Business Solutions
Executive Business Advisor Accredited by the Institute for Independent Business
http://www.corebizsolution.com
A team of Dutch scientists has come to the conclusion that if you are making a simple and basic choice, like deciding which peanut butter to buy, then a conscious decision is better. However, these same scientists found that as the decision gets more complex and important, you're more likely to make a better quality decision if you 'sleep on it'.
A study in the journal "Science" gave the results of a series of tests which appeared to demonstrate that people who relied only on conscious thought processes tended to perform worse when decisions became more complex than those who were able to 'sleep on it'. The research team explained that the problem with conscious thought is that the brain can only focus on a few things at the same time, which can lead to some aspects being given undue importance.
Lead researcher Dr. Ap Dijksterhuis said "The take home message is that when you have to make a decision, the first step is to gather all the information necessary for the decision. By going through this collecting process you begin to break down all the different parts of the decision as you think about each part of the information you need."
Once you have all the information, you have to decide and this is best done with conscious thought for simple decisions, but left to unconscious thought - to 'sleep on it' - when the decision is complex.
William Golding said "Sleep is when all the unsorted stuff comes flying out as from a dustbin upset in a high wind."
Jonathan Schooler of the University of British Columbia in Vancouver told Science that "too much (conscious) reflection could be detrimental in some situations."
Strategic planning for a business involves many complex decisions that should be reviewed and thought through over time and this is why I explain to anyone who is doing business planning of any kind to understand that this 'is a process, not an event.'
In about 2-3 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.
Until Next Time : Live Simply, Speak Kindly, Care Deeply, Love Generously and Live In The Moment
All The Best,
Walt Morey
Core Business Solutions
Executive Business Advisor Accredited by the Institute for Independent Business
http://www.corebizsolution.com
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Friday, May 7, 2010
12 Tips on Time Management
Many small business owners or sole proprietors find themselves stretched for time in an economy that requires businesses to do more with less to stay competitive. That’s why it’s wise for entrepreneurs to develop good time management habits so that everything that needs to be done, gets done.
First understand that you can not actually manage time. There will always be only 24 hours per day. But you can do a better job of managing how you interact with and deal with the time you have.
It's about managing your activities or behavior.
Here are 12 tips to help you work smarter and use your time wisely.
1. Buy a week-at-a-glance appointment book and use it religiously. Write everything that you need to accomplish in this book. This book is your brain!
2. Differentiate between the urgent and the vital. The urgent may be making a lot of noise to get your attention, but it is rarely vital that it be done right now or at all. Have a sense of urgency but without panic.
“The vital task rarely needs to be done today. The urgent task calls for instant action. The momentary appeal of these tasks seems irresistible, and they devour our energy. With a sense of loss we recall the vital tasks we pushed aside. We realize that we have become slaves to the tyranny of the urgent.” –Charles Hummel
3. The key is not to prioritize what is on your schedule, but to schedule your priorities.
4. Keep track of your time by 15 minute increments for 2 weeks to see how you actually spend your time. Compare this to what you should be or want to be spending your time on. It will help give you the motivation to make needed changes.
5. Say “no” to the project, not the person. You cannot do everything everyone asks you to do.
6. Learn how to effectively delegate. This means picking the right person, giving clear directions, setting benchmark and due dates, and then letting them do it.
7. Procrastination has a lot of different causes: fear, boredom, perfectionism, an overwhelming task and unclear goals. Identify the reason behind procrastination, so you are solving the right problem when dealing with it.
8. If you earn $10,000 a year, each minute is worth $.09. If you earn $30,000 a year, each minute is worth. $.26. Use these thoughts to help you prioritize your activities and to determine to whom you should be delegating. Any time you are doing work that someone at a lower wage could be doing, you are losing money.
9. Set goals. They help you prioritize your activities and let you know that you have succeeded.
10. Don't waste time waiting. We are all trapped into waiting for the dentist or an appointment to start. Have something with you that you can work on: Use your I Phone to check your email; Return calls you received on your cell phone or even just balance your checkbook. Make every minute count.
11. Set Time Limits For Tasks. Set aside a maximum times (i.e. 1 hour; 90 minutes, etc.) to review email or return phone calls or any other task. Set a timer to remind you when your time is used up.
12. There are 1,440 minutes in a day and 29020 days in an 80 year lifetime. Take control of your time and make this year the year you do what you want.
I hope I've provided you some ideas that can help you work better 'on' your business and perhaps even in it as well.
In about 2 weeks or so I'll cover another that can assist you with your business.
Until Next Time :
Live Simply
Speak Kindly
Care Deeply
Love Generously
Live In The Moment
All The Best,
Walt Morey
Core Business Solutions
Executive Advisor Accredited by the Institute for Independent Business
http://www.corebizsolution.
First understand that you can not actually manage time. There will always be only 24 hours per day. But you can do a better job of managing how you interact with and deal with the time you have.
It's about managing your activities or behavior.
Here are 12 tips to help you work smarter and use your time wisely.
1. Buy a week-at-a-glance appointment book and use it religiously. Write everything that you need to accomplish in this book. This book is your brain!
2. Differentiate between the urgent and the vital. The urgent may be making a lot of noise to get your attention, but it is rarely vital that it be done right now or at all. Have a sense of urgency but without panic.
“The vital task rarely needs to be done today. The urgent task calls for instant action. The momentary appeal of these tasks seems irresistible, and they devour our energy. With a sense of loss we recall the vital tasks we pushed aside. We realize that we have become slaves to the tyranny of the urgent.” –Charles Hummel
3. The key is not to prioritize what is on your schedule, but to schedule your priorities.
4. Keep track of your time by 15 minute increments for 2 weeks to see how you actually spend your time. Compare this to what you should be or want to be spending your time on. It will help give you the motivation to make needed changes.
5. Say “no” to the project, not the person. You cannot do everything everyone asks you to do.
6. Learn how to effectively delegate. This means picking the right person, giving clear directions, setting benchmark and due dates, and then letting them do it.
7. Procrastination has a lot of different causes: fear, boredom, perfectionism, an overwhelming task and unclear goals. Identify the reason behind procrastination, so you are solving the right problem when dealing with it.
8. If you earn $10,000 a year, each minute is worth $.09. If you earn $30,000 a year, each minute is worth. $.26. Use these thoughts to help you prioritize your activities and to determine to whom you should be delegating. Any time you are doing work that someone at a lower wage could be doing, you are losing money.
9. Set goals. They help you prioritize your activities and let you know that you have succeeded.
10. Don't waste time waiting. We are all trapped into waiting for the dentist or an appointment to start. Have something with you that you can work on: Use your I Phone to check your email; Return calls you received on your cell phone or even just balance your checkbook. Make every minute count.
11. Set Time Limits For Tasks. Set aside a maximum times (i.e. 1 hour; 90 minutes, etc.) to review email or return phone calls or any other task. Set a timer to remind you when your time is used up.
12. There are 1,440 minutes in a day and 29020 days in an 80 year lifetime. Take control of your time and make this year the year you do what you want.
I hope I've provided you some ideas that can help you work better 'on' your business and perhaps even in it as well.
In about 2 weeks or so I'll cover another that can assist you with your business.
Until Next Time :
Live Simply
Speak Kindly
Care Deeply
Love Generously
Live In The Moment
All The Best,
Walt Morey
Core Business Solutions
Executive Advisor Accredited by the Institute for Independent Business
http://www.corebizsolution.
Tuesday, April 13, 2010
21st Century Leadership - A People Focused Approach
One of the greatest challenges of leadership is the definition. There are literally thousands of books, documents, and lecturers that have each defined what their idea of leadership is.
There are definitions for corporate leadership, civic leadership, home leadership, and more. We attempt to
break down leadership and make it more complicated than it is.
At its core, leadership is an individual achieving results through people. In many cases you are considered a leader if you hold a particular title, have a certain set of personality traits, a particular skill, or lucky enough to be a born leader. None of these by itself define leadership, mainly because leadership is an individual decision. Just because someone is in a leadership position doesn't mean they necessarily exercise leadership. In some cases the informal leader exhibits leadership even though they aren't in a leadership role.
The people focused leader is adaptive and receptive to change. They understand the need to change in order to stay a step ahead in order to meet the demands and challenges of a rapidly changing marketplace. They have a vision for their organization that is clearly communicated throughout and the ability to influence at all levels in order to meet organizational goals and objectives.
The people focused leader realizes that it's not just management that drives performance in the organization, but also its people. Happy employees are productive employees. The people focused leader understands the importance of creating an environment that encourages diverse views and stimulates employees to take initiative, work as a team, and continuously learn.
The people focused leader has the interpersonal skills to develop relationships throughout the organization
especially in the new millennium where many workers have more knowledge than those that are leading them.
The people focused leader is quickly replacing the autocratic leaders of yesterday. They recognize the
importance of the people element to be critical to the success of the organization.
With the marketplace becoming more global, competitive, and turbulent, characterized by a highly mobile, skilled, and educated workforce.
The people focused leader will need to demonstrate their "people skills" to drive organizational performance and business success.
As we move forward in the new millennium leadership will be the differentiating factor between successful
and unsuccessful organizations. Rapid innovation and quality improvements will require even greater effort from the workforce in the future, and those that are able to change, influence, and transform his/her
organization will be ready to lead their organizations well into the 21st century.
Are you a people focused leader? If not, I hope I've given you ideas on how to move in that direction.
In about 2-3 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.
All The Best,
Walt Morey
Core Business Solutions
Executive Business Advisor Accredited by the Institute for Independent Business
http://www.corebizsolution.com/
There are definitions for corporate leadership, civic leadership, home leadership, and more. We attempt to
break down leadership and make it more complicated than it is.
At its core, leadership is an individual achieving results through people. In many cases you are considered a leader if you hold a particular title, have a certain set of personality traits, a particular skill, or lucky enough to be a born leader. None of these by itself define leadership, mainly because leadership is an individual decision. Just because someone is in a leadership position doesn't mean they necessarily exercise leadership. In some cases the informal leader exhibits leadership even though they aren't in a leadership role.
The people focused leader is adaptive and receptive to change. They understand the need to change in order to stay a step ahead in order to meet the demands and challenges of a rapidly changing marketplace. They have a vision for their organization that is clearly communicated throughout and the ability to influence at all levels in order to meet organizational goals and objectives.
The people focused leader realizes that it's not just management that drives performance in the organization, but also its people. Happy employees are productive employees. The people focused leader understands the importance of creating an environment that encourages diverse views and stimulates employees to take initiative, work as a team, and continuously learn.
The people focused leader has the interpersonal skills to develop relationships throughout the organization
especially in the new millennium where many workers have more knowledge than those that are leading them.
The people focused leader is quickly replacing the autocratic leaders of yesterday. They recognize the
importance of the people element to be critical to the success of the organization.
With the marketplace becoming more global, competitive, and turbulent, characterized by a highly mobile, skilled, and educated workforce.
The people focused leader will need to demonstrate their "people skills" to drive organizational performance and business success.
As we move forward in the new millennium leadership will be the differentiating factor between successful
and unsuccessful organizations. Rapid innovation and quality improvements will require even greater effort from the workforce in the future, and those that are able to change, influence, and transform his/her
organization will be ready to lead their organizations well into the 21st century.
Are you a people focused leader? If not, I hope I've given you ideas on how to move in that direction.
In about 2-3 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.
Until Next Time :
Live Simply, Speak Kindly, Care Deeply, Love Generously and Live In The MomentAll The Best,
Walt Morey
Core Business Solutions
Executive Business Advisor Accredited by the Institute for Independent Business
http://www.corebizsolution.com/
Tuesday, March 23, 2010
The Truth About Sales & Marketing
The Truth About Sales & Marketing
At a time when the world is facing its biggest economic test in years and retailers are slashing prices to shift stock, it is valuable to step back and have a look at the sales and marketing process being deployed in your company.
Over the years, sales and marketing has been portrayed as a specialist art that only the few, naturally gifted, can excel in. Proponents of this view can often be found with resume changes every two to three years and a trail of organizations that have been left with a feeling of disappointment that things “didn’t quite work”.
To connect the powerful commercial ideas of the business to the necessary levels of sales or customer retention, the sales and marketing function has been treated as a process that is 95% bribery by price and some science and 5% natural ability.
A more effective approach is based upon six universal principles of sales and marketing effectiveness that impact performance. These principles are relevant to all types of sales organizations irrespective of size, sophistication or location. The exact weight that each principle carries in producing final results will vary between markets and, to some extent, between companies.
The critical foundation is forming a common view of those weights between customers, senior and front-line
management.
These six principles are:
• Knowledge
Having a full understanding of the marketplace and how your products serve its needs. Do your homework.
This is usually the basis of your competitive advantage and can help you differentiate yourself from others in your business segment.
• Strategy
Providing a focus and direction for the sales and marketing effort commonly understood through the
company. Communicate your strategy to everyone so all are 'on board' with the idea and pulling the same way.
• Structure
The division of work among individuals and the coordination of the work once it has been divided.
Even if you only have one sales person, tasks have differing priorities. Be sure those priorities re clear to all concerned.
• Marketing Operations
Relating customers’ needs to your products. Driving customers to being positively disposed towards your
products. In many businesses this is largely driven by consistency and service delivery. Is your customer service really 'world class'? If not, get an evaluation and fix it.
• Sales Operations
Making it easy for customers to buy your products. The more convenient you make it for your prospect to buy, the more comfortable that sale will be to not only the customer, but to all others in your organization. Can your customers or prospects buy right from your website with an easy and simple process? Do you accept all forms of payment?
• People
Recruiting, integrating and developing quality sales people to achieve maximum performance (and
removing any under performing people quickly). Be sure your sales people have the skills and the tools required to make the sale.
All of these principles need to be incorporated into the process and actively managed to take control of the sales and marketing function. One tip- DO NOT Micro-manage sales people. Set the proper expectations and get their buy-in. Then just hold them accountable to their commitments. This is called Macro-Management. It will work for you.
In about 2-3 weeks or so I'll review another subject designed to provide business owners with information they can use to help them work "on" their business.
Until Next Time : Live Simply, Speak Kindly, Care Deeply, Love Generously and Live In The Moment
All The Best To Everyone,
Walt Morey
Executive Business Advisor Accredited by the Institute for Independent Business
http://www.corebizsolution.com/
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