How to excel at the ultimate oxymoron: a recession-era corporate holiday party

How to Excel at the Ultimate Oxymoron: a Recession-era Corporate Holiday Party

Today I’d like to share with you my thoughts on the upcoming holiday season and that most complex event: the corporate holiday party that coincides with an economic meltdown.

Despite the weak economy, or perhaps because of it, most companies in the U.S. plan to carry on with their holiday parties. As a leader in attendance at this event, it’s important to strike a tone that is festive without appearing to lose sight of the larger context. Remember that all eyes are on you, even in non-office settings — perhaps even more so in non-office settings where your behavior will be seen as «the real you.»

Corporate holiday parties remain one of the weirdest hybrids of work and play that I have ever experienced. They’re a veritable minefield in which if you perform well, absolutely no one will remember you, and if you perform poorly, everyone will remember you for years to come — for all the wrong reasons. In the spirit of ensuring the former and not the later, I offer these tips.

How to Get in the Right State of Mind

As a leader, if you’re stressed and fearful, your feelings will leak out no matter how hard you try to appear confident. The more you feel freaked out, the more people around you will feel freaked out, no matter how hard you try to hide it, so you’ve got to go to the source.

Whenever you feel fearful, focus your attention on the vision for the company, on positive steps the leadership team is taking to lead the organization through the recession.

I sat in on a senior staff meeting held by one of my clients earlier this week and he was absolutely inspiring. He told his team, «We have to plan for the worst, but we also have to plan for the success that will follow this downturn — because when it comes back, we will see absolutely enormous demand.» While acknowledging a rough current situation, he was also reassuring his team that he saw a bright future for the company.

Now, I’m not suggesting that you discuss the prospect of lay-offs or plant closures at the holiday party! However, do keep your mindset positive in the coming weeks so that whenever you are surrounded by employees, that positive energy rubs off on them and your upbeat attitude is authentic.

How to Choose Your Attire: This Year, It’s Easy

This year, even if you are doing well, it’s a good idea to dial down the bling a notch or two.

— Leave the gold Rolex at home. You don’t have to wear a Swatch, but please be cautious about flashing a $30,000 timepiece to people who are worried about getting laid off, paying their bills, and other basic needs.

— For the female executives, this is an easier year for corporate party attire than last year, since a more classic, subdued look is appropriate to the economic climate, as well as to your role as an executive. Choose from the many options out there, or go full-on recession-chic by wearing something already in your closet.

— I always greatly admire a woman with the guts and style to wear an elegant tuxedo to a corporate event, but only try this if you have great style and the confidence to pull it off without showing off. Corporate parties are about reinforcing teamwork, not about individual stars outshining the rest of the pack.

— There’s no need to be downright drab. It’s a party after all. Wear a little bling if it’s your style. Just don’t take it as far as you might in boom times.

All bets are off if you work in the entertainment industry. If that’s the case, take everything I’ve written and ignore it.

And Now, for the Part You Really Don’t Want Me to Tell You…

If you’re as outgoing as I am when stone cold sober, just imagine how goofy you must look after a few drinks. A general guideline — you can probably handle about half as much as you think!

Particularly limit yourself to one or two drinks during cocktails, since there’s more to come with dinner.

This tip applies even if your superiors are stone-cold blottoed. That promotion or transfer you may want will in part be based on your good judgment in a variety of settings. No, it’s not fair, is it?

How to be a Great Conversationalist — a Pain-Free Approach

Nobody really cares what you do for a living or what projects you’re working on. Yet, in American culture, like work-a-holic lemmings we instinctively ask, «What do you do?» This is a particularly sensitive subject this year as many employees and spouses at the event may be recently laid off or anticipating the ax coming down soon. Don’t let party conversations turn glum by opening with shop talk. Make this party a chance for people to forget about their problems for an evening.

Become the greatest conversationalist they’ve ever met in their entire lives by not asking about work. Try, «What interests you outside of work?,» «What are you doing these days for fun?,» «What are your kids up to?,» or anything else that invites conversation on a subject of interest other than work.

Follow-up questions help, too. («You do scrapbooking with your friends. I didn’t realize that was a group hobby. How did you become interested in it?» «So your teenagers are budding Emo-Punk t-shirt designers. Wow. I’ve never heard of that. Tell me more.»)

Introduce yourself to every person at your table, and talk with each of them at some point during dinner, including the spouses, who will speak highly of you forever simply because you steered the conversation away from endless droning on about the office.

Bonus points if you remember names and introduce people to each other. Here’s a great trick for remembering names. My husband swears by it. As soon as you are introduced, say the individual’s name, as in, «Pleased to meet you, Kate.» Then use it two more times early in the conversation. The repetition makes it stick in your head.

And Now for my Favorite Tip for a Sit-Down Dinner

When you sit down next to the CEO, avoid eating his or her food by remembering that your bread plate is to the left and your drink is to the right. Cue yourself by forming an «o» with your index finger and thumb. On the left hand, this forms the letter «b» for bread, and on the right hand, the letter «d» for drink.

Try it now. See? Nifty, huh?

Don’t worry about getting caught doing this. It’s a great conversation starter. For example, the person next you just might say, «Ah, I see you read Traveling Light…»

Joint ventures make sense

Joint Ventures Make Sense

As there are numerous good reasons both business wise and financial, to create a joint venture with a company that has a great complementary capabilities and resources, such as distribution channels, new technologies or finance, joint ventures are becoming an increasingly popular way for different companies to build strategic alliances.

In a Joint venture, two or more parent companies agrees to share capital, technology, human resources, risks and rewards in a formation of a new entity under shared managerial power.

But before going into a joint venture, you should consider something first. We have gathered some information on what are the most important things to think about before going into a joint venture, here is the list:

Before going into a joint venture, be sure to first screen prospective partners. Make sure that you are on the same level of the industry.

Also make a joint development of a detailed business plan and short listing a set of prospective partners based on their contribution to the development of the plans.

Check the credentials of the other party by doing interviews and research. Check their previous business and also the sales that they are getting. You may also want to check customer feedback regarding their services.

You should also develop an exit strategy and terms of dissolution of the joint venture in case things would go wrong.

You should also try to think of the most appropriate structure for you joint ventures, for example most joint ventures involving fast growing companies are structured as strategic corporate partnership.

You should also take notice of the availability of appreciated or depreciated property being contributed to the joint venture; by misunderstanding the significance of appreciated property, companies can weaken the economics of the deal for themselves and their parties

You should also point out the different special allocations of income, gain, loss or deduction to be made among the partners and so with the compensation to the members that provide services.

You should also take note of the role of your business architect, this is a person that initiates new business ventures or leads business innovations, designs a winning business model and builds sustainable balanced business system for a lasting success.

Business architects can be found in multitude of business settings, be it in corporate change leaders, initiator of joint venture, and managers of different and radical company settings.

Human resources also plays a special role in joint ventures, here are some thing that a human resource should look into to get good business ventures.

The business strategy should begin with a sound, well articulated strategy. Before going into the first step, determine first and explain why you wish to enter into a joint venture, why you have chosen such partner or partners, and what the goal of the company is. You should put into word the involvement of the parent companies and define how long will the joint ventures last.

You should also describe strategies to define the managerial, accountability, decision-making process and conflict resolution procedures.
Develop Human Resource strategies that align and support the goals of the JV. You should develop a distinct identity and culture for the newly form company. Communicate energetically to the employees and establish a distinct career goal, management, and a means of welcoming return to the employees transferred to the joint venture.

Create salary, bonuses and retention program that is inline with the success of the joint venture. Maintain open communication between the companies that have been tied up.

Define a process for leadership selection that is seen fair and credible and give credits to the top-tier leadership as soon as possible. Look for key indicators of leadership potentials such as behavior, past experience, and measurable outputs.

To engage and motivate your employees, communication should be frequent and used to create a common vision, establish a connection with leadership, explain the new rules, support the individual transition process, aid in retention, and ultimately, define the new organization in terms of «We» instead of an «It» or «They». Share as much information as you can, and never sugar-coat or make false promises.

Conduct employee research to help the new organization determine what matters to employees and can serve as the foundation for all programs and incentives.

Is your property manager working for you

Is Your Property Manager Working For You? 5 Tips To Getting What You Pay For

With vacancy rates on the rise, it’s more important than ever to keep your units rented. Hiring the right property management company can go a long way towards doing so. But how can you be sure you’ve hired the right person? Following are 5 tips to help you make sure you’re on the right track.

1. Make Your Expectations Clear

One of the biggest mistakes that people make is rushing the process of hiring a property management company. Often they are so desperate to fill the position that they’ll interview only a few candidates before hiring someone. Taking a little extra time to hire the right property management company the first time will save you time and money in the long run.

The good news is that San Diego has a large pool of people to choose from. The first thing you want to look for in a potential property management company is enthusiasm. Remember that they will be the ones selling potential renters on your units. If they can’t even sell you on themselves, it’s unlikely that they’ll do an effective job for your rental units.

A good question to ask during the interview is, What do you like most about San Diego? If they answer with a generic response they are not the right candidate. Hire someone who exudes enthusiasm and who is passionate about the area. They should be familiar with and well informed on the attractions, such as Balboa Park, the numerous sporting options or Seaport Village. The key is to find someone who can speak with confidence and enthusiasm in regards to not just your rental units, but the area in general.

Once you have someone in mind that you think would make the right property management company, be sure to check their references and ask around and see if others in the field have any experience with them. Speaking not only to their previous employers but also with tenants that they worked with previously can be a big help.

When you’ve hired the right property management company, it’s important that you don’t simply hand them the management agreement with any addendums and assume that they’ll read them. Go over each issue individually to ensure that your new property management company understands the specifics of your rental agreement.

2. Stay Involved

While it’s true that you’ve hired a property management company to ease the burden of the day to day issues that spring up, this doesn’t mean that you can simply spend your days in Seaport Village, enjoying the San Diego sun or taking long drives through the mountains. You’ll need to strike a comfortable balance wherein you’ll check up on your properties, and your property management company, from time to time — without going overboard.

A good idea is to stop by your properties at least once a month. You’ll first want to do a drive by to check on the condition of the exterior of the property. Make sure your property looks great from the outside by creating an attractive curb appeal- this will help the property rent faster- the right kind of tenants take pride in where they live and these are types of tenants you want.

You should also take pictures of the interior and exterior of your units when you hire your property management company. This will give you proof of the condition your units were in when you hired them. In addition, have your property management company do a walk through every six months to make sure that there aren’t needed repairs that your tenants aren’t reporting.

3. Be Forward Thinking

It is the job of your property management company to take care of your advertising, but it’s your job to guide the way in which they do so. San Diego is not the type of city where you can simply place an ad in a newspaper once a month and hope someone spots it. Rather, you make sure your property manager is aware of the incredible promotional opportunities which exist on the Internet- if you see online channels your not using, get in touch with your manager and tell them about it.

Give your property management company an example of the type of ads you’d like written and follow up on them. Calling and posing as a potential renter can give you the best view of how your property management company handles these calls.

Check the books regularly. Focus on all the expenses that your property management company is incurring- keep on eye on each line item and expenditure so your property manager thinks twice before spending your money. The more often you check into these things, the less likely your property management company will be to abuse your trust.

4. Don’t Fear Change

San Diego is one of the most sought after locations to live in for many reasons. One of those reasons is that it is on the cusp of new technology and is a trend setting city. This means that you and your property management company must stay on the cutting edge if you are to find new renters and retain them.

One of the best ways to avoid having your San Diego apartment or home sit vacant for weeks or months at a time is to start showing them before your tenants move out. In order to do this, you must be sure that your property management company is keeping an open dialogue with your tenants. This will give you the best opportunity to know when you have tenants that will be vacating and to act pro actively.

You also need to be sure that you’re keeping an eye on the San Diego economy. While you do want to get a fair rate for your rental units, if you know that one of your long term tenants has been laid off or forced to take a pay cut, this is not the time for your property management company to raise their rents. Conversely, an increase in the San Diego Economy means that you should be ready to increase rental rates when the time comes not charging market rates is the worst mistake you can make as it devalues the perception of your property.

Lease increase need to be handled delicately- make sure you’re justified as if you’re not, your tenant will simply move to another location. However, if you instruct your property management company to do so in a fair way, you can relieve some of the tension. Keep your rental raises in line with other San Diego rentals. Tenants who understand that they may pay the same rent elsewhere are less likely to move-m oving is a huge headache and has many costs associated. It’s also a good idea to offer them incentive to stay, such as a bonus for signing a longer lease.

5. Appreciate Your Property Management company

Everyone likes to feel noticed and appreciated for their hard work, and your property management company is no exception. Something as little as a hand written Thank You can go a long way. As a management company, you should be quick to let your property management company know when their performance could be improved and quick to let them know when they’ve done an excellent job as well.

Is my boss exploitating or exposing me

Is My Boss Exploitating or Exposing Me?

In corporate employment, it is common for the seniors to delegate subordinate staff sometimes to the point where is becomes unfair. Have you heard about juniors who draft executive board papers, attend national meetings, drive corporate projects, etc. I know you have or even could be a victim of such occurrences. I have, and we see a lot of such in our African corporate companies. What comes to your mind when such things happen? What would make you make you think it is an exposure opportunity or exploitation? Let’s brainstorm some points that support each of these thoughts.

I would consider any assignment to be exposure if the following apply:

1. The assignment is relevant to your job

2. Notice of the assignment is given when there is still enough time to prepare

3. You are the only or one of the specialist on the subject assignment

4. You are aspiring for the position for which the assignment belong

5. The assignment has benefits such as documented credits for good performance, financial return in form of bonuses, it opens chances for a promotion or better employment opportunities, etc.

Opposites of the points above can be considered as exploitation. In addition to those are the following:

1. The boss is lazy to do the work

2. If poor performance on the assignment warrants a dismissal

3. All benefits will go to the boss and not for company

4. The assignment arises from poor performance of the boss

Points to each of these extreme opposites are many. I know you could come up with your own points that are even more than what I listed.

Let’s think together once again, if you happen to be a victim of exploitation what should you do? Do you reject the assignment, conveniently under perform to expose the boss, resign, or look for another job? The answer is simple – decide for that whose consequences you can take. What does this mean? Plan for the action you want to take, don’t be blind. I cover a topic on ‘How to Quit your day job’ in my blog where I tell of what should keep most of us employed till time is right.

How to remain calm with an agitated customer

How To Remain Calm With An Agitated Customer

A day in the life of a business person can be filled with joy and satisfaction or it can be frustrating and stressful. When things go wrong, some people lose control. Holding emotions in check and reacting professionally under fire are not always easy. It is particularly difficult to be nice to people who are not being nice to you.

So what do you do to keep your cool when the customer is chewing you out? Most of the time, it is not even your fault. It could be that the problem was with a product or a service delivered by someone else in your organization. You’re getting the blame because the unhappy person found you first, and it’s not pleasant. When faced with angry people, there are four key steps that will help diffuse the situation.

Step one is to apologize. «But,» you say, «it’s not my fault.» It doesn’t matter who’s to blame; apologize anyway. As a representative of your company you have a responsibility to see that things go well. Your willingness to be accountable will have a positive effect. After all, it takes two to have an argument. If one of you refuses to be disagreeable you can’t have a disagreement. You are not accepting blame-you are simply saying, «I’m sorry about the problem.» You are wasting your breath unless you apologize with complete sincerity so be sure that your tone of voice matches your words.

Step two is to sympathize with the irate customer. Let the person know that you can identify with his feelings. Say that you understand the frustration of receiving a faulty product or poor service. The angry person begins to feel better as soon as his reaction is validated.

Step three is to accept responsibility for the situation. Be accountable to the customer. Let him know that you intend to do whatever it takes to make things right. You can’t help what has already happened, but you will come up with a solution to the problem or you will find someone who can.

The last step is to take action. Decide what you can do and tell the customer. You will replace the defective or incorrect product as quickly as possible. If the issue was poor service deliver better service. Whenever you can offer a bonus of some sort or waive fees, the tiger before you is transformed into a pussycat.

Use the acronym «ASAP» to remember these four steps for calming upset customers. Each letter stands for part of the process.

A is «apologize.»
S represents «sympathize.»
A stands for «accept responsibility.»
P means «prepare to take action.»

Nothing will be solved by becoming argumentative and reactionary. Instead, diffuse the client’s anger by being apologetic and sympathetic and focus on positive steps that will resolve the situation. Before you know it, your adversaries will become your allies.

Oh yes, remember to smile. It will make everyone feel better and behave better.