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Time is of the Essence

Fri, 30 Oct 2009 13:53:03 +0100

The retention of good customers is the number one priority for your business.

Every business, large and small, depends on customers for its livelihood. Surprisingly, a great many businesses fail to honour this common-sense principle. Excellence in customer service is the single most important element in determining your company's future success or failure. Regardless of the product or service your organisation provides, you are in the business of serving customers. The customer decides if you stay in business!

`Managing for Customer Care` is a powerful business model in pdf on `all` the ingredients to keep your customers and increase the `bottom-line`. Details on www.cavendish-mr.org.uk

The CEO must transmit three essential principles to all employees:

Every function of the company must look at the business through the eyes of the customer.

Each person in the company must add value on top of the product/service.

The customer, not the company, determines value.

Building Customer Loyalty
All too often, companies focus their energies on going after customers and too little effort into building a solid customer base. This short-term strategy usually ends up backfiring on the bottom line. Plus, just look at the world at present, greed has taken hold, at all times your customers always come first in a win, win solution!.

Successful companies focus 'outside-in' (looking through the customers' eyes), not 'inside-out' (looking through your own eyes). They maintain an 'outside-in' focus through the following techniques:

Model the behaviour. Create an environment where employees can make decisions at the tactical level. Leaders need to model the behaviour they want employees to exhibit, not the 'do as I say, not as I do' model.

Know your customer. Allocate time to go out and meet with customers and suppliers.

Manage out, not up. If an employee's orientation is to please the boss, he or she won't focus on pleasing the customer.

Put customer service first at your management meetings. If you always ask questions about cost cutting or meeting the budget, your management team will focus on these issues, not customers.

The first question every customer asks (or thinks) is: 'What's in it for me?' To keep the focus where it belongs, I offer these recommendations:

Guarantee your products and services. Stand behind everything you do or make. Otherwise, what possible reason can anyone have to buy from you?

Make on-the-spot decisions. No one wants to hear, 'Let me check with' or 'I'll have to get back to you.' A customer who comes to you with a problem/issue and gets an immediate decision will - more often than not - walk away satisfied.

Keep your promises. If you promise what you do, do what you promise! In an attempt to outdo the competition, you may be occasionally tempted to over-promise delivery of goods or services. Don't do it! Make promises you know you can keep. Customers appreciate it.

Measuring Customer Satisfaction
Most businesses measure success by such typical key indicators as profit margin, sales and accounts receivable. These indicators measure what's in it for the business. The real challenge lies in measuring what's in it for the customer.

In addition to the most obvious measurements (referrals generated from current customers, level of repeat business from current customers, rate of customer complaints), `future customer-focused key indicators`:

Time to answer inquiry. Business studies show that a customer lead loses one percent of its potency for each day it remains unanswered or unfulfilled. Responding quicker than your competitors translate into a clear advantage.

On-time delivery. If your product doesn't get to the customer when he or she needs it, the value of that product is diminished severely. Promising a specific delivery date and not sticking to it lends the perception that your company is incompetent.

Error rate. How many mistakes are made when entering customer orders into your computer tracking system? These errors often translate into wrong products being delivered and/or increased delivery time. Plus, an increase in cost to the company.

The 80/20 rule. In most businesses, 80 percent of profits comes from 20 percent of customers. At a minimum, companies should track their top 20 percent of sales to see if they're growing, staying flat or on the decline.

Establish benchmarks that assess quality on a continual basis. Measure key indicators in small increments that can be tracked quickly and efficiently. This may seem like a time consuming approach, but it's far preferable to waiting until the end of the fiscal year to assess the quality of your goods or services.

'Moments of Truth'

Whenever a customer comes into contact with any facet of your business, it's an opportunity to form an impression. These 'moments of truth' can make or break your company.

Your employees' first responsibility is making customers feel special. A customer-focused company recognises that it's not in business to deliver a product or service, but to enable people to reap the benefits of that product or service.

Customers have certain expectations. Moments of truth are inextricably linked to these expectations. They include:

Ambience. Customers expect to find clean, comfortable and attractive surroundings. They expect to be greeted warmly by well-groomed, professional-looking employees.

Quality. Customers expect quality in every part of your business, from the way your staff treat them to the product itself.

Solutions. You're expected to stand behind the product you sell, to be an expert in this area. Your customers will have questions. You should have answers.

Reliability. The customer expects your product or service to be reliable and dependable. A sense of confidence grows out of this expectation and can lead too much future business.

Each business has only a finite number of opportunities to both meet and exceed customer expectations. The key is identifying these moments as the customer sees them, not as you do. If you're successful, you can win customer loyalty for life.

The Value of Service

Successful businesses recognise that service itself is a product, a product that's sold every time the customer has contact with the organisation. Service:

Must be produced upon demand

Can't be 'recalled' like a malfunctioning appliance (you can apologise for bad service, but by then the damage may already be done).

Is experienced by the customer at the moment it's delivered (there's no opportunity to take a 'time out' and consult with management)

Providing value not only serves the customer, it benefits the organisation as well. These benefits include:

Greater efficiency. Focusing on areas that directly affect customer satisfaction requires businesses to use their resources more efficiently.

Cost effectiveness. According to statistics, the cost of gaining a new customer is roughly five times more than the cost of keeping one. With a mere five percent rise in customer retention, a company's profitability can jump by 25 percent or more.

Increased morale. When the CEO, senior management, mid-level management and front-line staff are 'in sync' on the importance of customer service, everyone shares a common purpose and goal. The result: enhanced employee moral and satisfaction.

In any industry where two or more businesses sell the same goods or services, success is ultimately measured by how well the customer is treated, not only at the time of sale, but afterward as well. Your business can offer great customer service after the sale by:

Helping with problems/issues, not evading them. When a customer comes with a problem to your front-line staff, they should never be passed to another employee. Customers don't want to hear, 'That's not my job.'

Never being too busy to help. Never let your customers feel like they are intruding on staff. Your employees' primary job duty is providing outstanding service to customers.

Letting the customer teach you about your business. Customers are the ultimate goal of all of your advertising, distribution, and pricing, marketing and sales efforts. What they say about your business reflects how well you're achieving what you set out to do.

Employees: Your Internal Customers

How many companies overlook the need to develop good internal customer service, the care and nurturing of first-rate employees who are hired to do whatever it takes to get and keep a customer's business?

Most companies today simply do not invest time up front understanding what type of people thrive in their corporate cultures and what they need to take good care of customers. I offer these recommendations to facilitate the hiring process:

Design a profile of the type of person you feel is best equipped to serve your customers.

Incorporate the latest behavioural hiring techniques as part of the interview process.

Make sure several staff members interview the applicant.

Hiring the right employee is only the first step. What happens during orientation and training is equally important. Companies that deliver world-class service have a formal orientation programme, a comprehensive employee handbook and numerous ways to introduce a new employee to the company's culture. Learning the ways to be successful with the customer is a number one priority.

In these organisations, company standards are clearly articulated. Employees know what is expected of them. Experienced staff members share their knowledge about implementing these standards in daily business life.

Through training and everyday work, the employee focus should be on customer service. Constantly ask yourself and your staff: What have we created of value today? What can we do better than yesterday?

CEOs and senior management can encourage customer focus by:

Paying attention to culture. Encourage staff to look at other companies' cultures. The more you get people talking about customer issues, the more you get problems/issues out into the open and start making improvements.

Making experts of your staff. Invest more in training and information. Build a company library. Make educational books and tapes available to everyone. The more you invest in your employees, the more loyalty you get.

Customer Service Makes the Difference

Product quality no longer guarantees a competitive advantage. Today, it's a commodity; the customer expects it. You have to find a way to differentiate yourself from the competition.

Businesses are increasingly finding that employees can be that competitive advantage. The key is hiring employees with the skills to deliver outstanding service. All your employees must have the passion for success with the customer in there mind at al times.

Outstanding service requires:

A sincere commitment to serve all customers at the highest possible level every time

Clearly articulated policies about how customers should be serviced, as well as a system of accountability for enforcing these policies

A culture that requires serving customers consistently in a manner that not only meets their expectations, but often exceeds them.

Achieving outstanding customer service is what sets your business apart and keeps customers coming back again and again.
What Do Your Customers Think?

Offering quality service to customers isn't a mysterious process. Customers who interact with your organisation every day are the ideal source for the feedback you need.

Your internal records may suggest you're doing a great job, but the only voices worth listening to belong to your customers. Find out what they want, provide it to them on a consistent basis and ask them how well you're doing.

'Listen and learn' sources include:

Customers. For many businesses, the person who purchases your product isn't necessarily the one who uses it. To get a clear picture, always be sure to talk to the end-user.

Sales representatives. Often, sales reps are the eyes and ears of an organisation. Based on their first hand contact with customers, they are certain to have valuable insights for the business.

Ex-customers. Track down former customers and find out why they no longer do business with you. This can also be a valuable source of information.

Surveys are an effective way to gauge customer satisfaction. They can also measure the importance customer's place on specific characteristics of these goods, which in turn offers additional information on where to focus your customer-retention efforts.

Because of their give-and-take format, focus groups can generate better information about customer satisfaction. They allow businesses to probe beneath the surface and get a clearer understanding of why customers perceive the organisation the way they do.

Also encourage management and front-line staff to take a comprehensive approach to gathering feedback. Instances include:

Point of purchase. When the actual transaction is taking place, ask the customer: 'Was everything to your satisfaction?' Better yet, ask: 'Was everything perfect?'

Order forms. Include a 'comments' section on your order forms, making it easy for customers to provide feedback. Try this on your invoices as well.

Call free. For customers living and working beyond local area codes, install a call-free telephone number they can call with their comments and complaints. Encourage use of this call-free phone option in your mailings and handouts.

Voice mail. Install a dedicated 'customer feedback hotline.' Let your customers know that all messages on this hotline will be heard or read by senior management and by all employees with direct customer contact.

Turning Complaints into Devotion

Statistics report an average customer with an unresolved complaint tells nine to 10 people about the experience; 13 percent tell more than 20 people. And for each unhappy customer heard from, the average business has 26 others it never hears from.

Complaints should be viewed as opportunities, a chance to learn what customers don't like about your products or services, and what can be done to make things better. I recommend these customer retention tips for coping with unhappy customers:

Reward the customer. The first thing to say in response to an angry customer: 'Thank you for bringing this problem to my attention.' This 'rewards' the customer for taking the time to contact you in the first place.

Stay calm. Remember that you're here to serve the customer. This is your chance to show what you can do!

Listen. Pay close attention to the customer's complaint. He'll/she'll be able to tell, even through his/her irritation, that you care about his/her complaint and that you value his/her business.

A prompt response is by far the most effective way to neutralise customer complaints. Whatever the situation, make sure it's taken care of. Nothing kills customer loyalty faster than not following through on problem resolution.

The Customers Who Got Away
Businesses have a choice when it comes to selecting their customers. Not all customers are a good 'fit' for your business. Nevertheless, you should be very careful about whom you let go and whom you hang onto.

Only the CEO and/or senior management should 'fire' a customer. This customer should only be let go for 'just cause', either because the customer has become unprofitable or because he's asked your company to do something immoral, unethical or illegal.

Some customer defections are inevitable. Still, thriving businesses should have a strategy in place to make the most of these defections.

If customers are defecting in significant numbers, first consult your front-line staff. They know how people feel about the company and can, if properly trained, observe what's going on around them, as well as offer keen insights and possible solutions.

Figure out why the customer has stopped doing business with you. Be open to feedback about your company. Seek concrete, specific information that will lead to genuine product or service improvements.

When customers say, 'I'll never do business with you again,' what they're really saying is that you have to earn back their business. Given enough time and energy, you can do it.

If you want to survive in business, follow my shared recommendations and your Customers are for life. `Train` your staff from the CEO all the way through the business on a continuous cycle to understand how business works and then you will find success.

Remember, `The reason you are in business is only because your customers allow you to be!`

'Two little words that can make the difference: START NOW.'

Success is a journey, not a destination
Our goal is simpleto help you reach yours

New books to help you with your success;

`Formula for Success` by Colin Thompson - Foreword by Karl George OBE

`Quantum Leap to Success` by Colin Thompson - Foreword by Sir Maurice Donn

Check out www.cavendish-mr.org.uk for details by clicking on the publications button.

Are you ready to commit to making a Quantum Leap in your performance? Then, we invite you to invest in the publication `Quantum Leap to Success`. Please use this website www.cavendish-mr.org.uk as a resource centre for daily motivational quotes, as well as for a listing of motivating books, CD`s/DVD`s/PDF`s, guides, research reports, publications and online resources. `Quantum Leap to Success` can be purchased from the secure e-commerce website:www.cavendish-mr.org.uk
Fresh thinking requires a vision to see beyond the conventional. When you combine excellent quality with outstanding value for money you will begin to realise the full potential of creative and well presented business solutions. Together, the sky`s the limit. Have passion to learn and let the knowledge help you to be successful in life.

About the Author Colin Thompson

Colin is a former successful Managing Director of Transactional/Print Manufacturing Plants, Print Management/Workflow Solutions companies and other organisations, former Group Chairman of the Academy for Chief Executives and Non-Executive Director, helping companies raise their `bottom-line` and `increase cashflow`. Plus, helping individuals to be successful in business and life in general. Author of several publications, research reports, guides, business and educational models on CD-ROM/Software/PDF and over 400 articles published on business and educational subjects worldwide. Plus, International Speaker and Visiting University Professor.

Colin Thompson

DDL: + 44 (0) 121 244 0306
Mobile: 07831 588310
Main T: + 44 (0) 121 244 1802
email:colin@cavendish-mr.org.uk
www.cavendish-mr.org.uk
Visit our knowledge pool at: www.cavendish-mr.org.uk for over 75 powerful publications, business models and services.

Also, read our testimonials page to see what others believe.

Our goal is:
Changing Limited People into Limitless People
Turning Limited Companies into Limitless Companies
`Igniting` your success with the new powerful and inspirational books from Arima Publishing UK ;

`Accelerate with Impact` - by Colin Thompson ISBN: 978-1-84549-289-2

`Create Your Own Success Story` - by Colin Thompson ISBN: 978-1-84549-260-1

Both of these publications help you to be successful in business life and in general life. These books can be purchased from;

www.amazon.co.uk
www.amazon.com
www.cavendish-mr.org.uk
www.arimapublishing.co.uk
and all High Street bookshops worldwide

Accreditation: UK Registered Learning Provider:10025755

Our mission is two-fold: first, to offer insights that enable people to discover both their personal and business potential; and second, to do so in a fun and effective way that fosters connection and community. We do this via business consulting, publications, seminars and speeches.

We can all choose to walk a path with heart and accountability. Our work can support our path to be one of personal development, contribution to society and positive `bottom-line` results.

You're receiving this email because of your relationship with Cavendish. Please confirm your continued

Present Yourself like a Stage Star

Fri, 23 Oct 2009 10:52:25 +0200

Present Yourself like a Stage Star

How to be a `Winning` Job Candidate
Think your job search is tough? How would you like to go on 300 interviews a month as your competitors try to discredit you and the media stands ready to report (and continually replay) any gaffe or failing to a snickering public.

Next to running for office, a job search is a cake walk. But that doesn't mean you cannot learn something from the world of politics. Here are a few lessons you can carry over to your own candidacy:

Define Yourself and Your Message
Just as every candidate needs to differentiate himself to survive the primaries, your resume needs to stand out to get you the interview. Target it toward what the employer is looking for. Read the job description and research the organisation. Ask yourself, 'If I were the hiring manager, what would I want to see?' Showcase these skills and qualities in the top third of your resume.

Be Prepared
Develop a concise sales pitch that explains why the company should hire you. Be ready to show thorough examples why you're right for the job and to answer any tough questions. Rehearse with a friend until you've got it down cold. Do not even think about winging it.

The best candidates leave nothing to chance. Bill Clinton's performances were intricately choreographed, down to how and where he would move to look good on camera and catch his opponents off-guard (remember George H. Bush checking his watch at the town hall meeting?!). Even Reagan's 'spontaneous' debate lines: 'There you go again...' and 'I won't hold my opponent's youth and inexperience against him,' were well-rehearsed.

Do not Exaggerate
Present yourself and your abilities in the best possible light -- without stretching the truth. Howard Dean's professing to be the only candidate from a farm state (Gephardt's Missouri has 100,000 farms to Vermont's 7,000) and his claim to have extensively studied the Bible 'especially the book of Job from the New Testament' were mistakes of biblical proportions. And will Al Gore ever live down being the inventor of the Internet?

Look the Part
Image consultants give both Kerry and Bush high marks on their attire and grooming. They dress slightly better than the dress code and always wear well-tailored, high-quality garments that are stylish, but not trendy; authoritative, but not stuffy.

Build Rapport
According to body language expert Dr. Daniel Hill, the candidate to emulate is John Edwards. 'Edwards is amazing. His smiles are genuine and he almost always looks composed and engaged. He's even loosened up John Kerry!'

This comes as no surprise. As a trial lawyer, Edwards led seminars on how to establish intimacy with the jury. 'Talk to them like you talk to people on your back porch,' he says in a training video. 'The jury needs to feel good about what you're asking them to do.'

Going After 'Undecideds'
Veteran campaigners know it is the 'undecideds' who can make or break them. According to political analysts, undecided voters typically aren't happy with the incumbent and are waiting for a reason to vote for the new candidate. The same can be said for an external job candidate competing against an internal one. If your interviewer seems conflicted or resistant, try to uncover their concerns. Follow up with a note or sample of your work that might help win over the undecided interviewer.

Let them know you're eager to prove yourself. At the end of nearly every talk show appearance during the 2000 campaign, George W. Bush ended by saying, 'I'm askin' for your vote.'

Do not Burn Bridges
Don't go negative on your past employer. It weakens your stature and makes people wonder what you'd say about them! Instead follow John Edward's lead. Be positive and gracious toward everyone even if you don't land this job, they may be able to offer you another one down the road.

Never Give Up
You cannot win them all. JFK ran for class president at Harvard and lost. Nixon unsuccessfully ran for both president and governor of California. And Lincoln lost his bid for the Senate before going on to become one of the most revered presidents in history. The great ones take losing in stride and come back to run and win another day. Never give up!

Top Tips for Radiating Confidence

How do you convey confidence even if you're quaking inside? Here are the top tips for you to be successful;

* Use positive body language, eye contact and a good firm handshake (people never forget a grasp like a limp fish). Concentrate on giving off enthusiastic energy so you appear upbeat and confident.

* Try to exude effortless authority: be animated but economical, without fidgety gestures or superfluous mannerisms.

* Speak clearly with energy and variety. Loss of confidence comes out in the voice, which trails away and becomes a monotone as we stop breathing. Consciously practise taking energy in the voice through to the end of the sentence.

* Listen carefully to what is said. People like to talk about themselves, so focus on others, not yourself and to paraphrase President Kennedy, ' ask what you can do for people, not what they can do for you', an attitude that helps you build up a network of influence.

* Put yourself in a positive frame of mind. If you feel down, this comes across in body language and voice and it`s hard for others to listen to ideas expressed in a downbeat way. Enthusiasm is attractive and infectious, so be positive at all times to win. It`s obvious but often hard to deliver in practice.

* Remember, `Present Yourself like a Stage Star` and you will win the job.

The next step is to invest into the powerful publication to help you win the job;
`The Guide to a Successful Interview`

Open your mind to the Challenges you face in winning the job for your success.

Incorporated in the publication

Winning Interview Skills

So, you have landed an interview for a seemingly wonderful job! Now what? Successful interviewing will be essential in order for you to lock in to an offer. This publication is full of tips and strategies for effective interviewing from preparation through delivery.
Learn and Practice

Knowing as much as possible about the company can make your interview more interactive and could be just what you need to get ahead in a competitive job market. We share with you techniques that work and will win you the job.

Contents

* The Guide to a Successful Interview
* The Interview
* Company and Job Research
* Advice on Interview Tips
* Questions to ask the Interviewer
* Overview - ten Minute Guide
* Summary on winning the job
* 7 Simple Steps to Improve Optimistic Outlook

Details on www.cavendish-mr.org.uk

'Two little words that can make the difference: START NOW.'

Success is a journey, not a destination
Our goal is simpleto help you reach yours

New books to help you with your success;

`Formula for Success` by Colin Thompson - Foreword by Karl George OBE

`Quantum Leap to Success` by Colin Thompson - Foreword by Sir Maurice Donn

Check out www.cavendish-mr.org.uk for details by clicking on the publications button.

Are you ready to commit to making a Quantum Leap in your performance? Then, we invite you to invest in the publication `Quantum Leap to Success`. Please use this website www.cavendish-mr.org.uk as a resource centre for daily motivational quotes, as well as for a listing of motivating books, CD`s/DVD`s/PDF`s, guides, research reports, publications and online resources. `Quantum Leap to Success` can be purchased from the secure e-commerce website:www.cavendish-mr.org.uk
Fresh thinking requires a vision to see beyond the conventional. When you combine excellent quality with outstanding value for money you will begin to realise the full potential of creative and well presented business solutions. Together, the sky`s the limit. Have passion to learn and let the knowledge help you to be successful in life.

About the Author Colin Thompson

Colin is a former successful Managing Director of Transactional/Print Manufacturing Plants, Print Management/Workflow Solutions companies and other organisations, former Group Chairman of the Academy for Chief Executives and Non-Executive Director, helping companies raise their `bottom-line` and `increase cashflow`. Plus, helping individuals to be successful in business and life in general. Author of several publications, research reports, guides, business and educational models on CD-ROM/Software/PDF and over 400 articles published on business and educational subjects worldwide. Plus, International Speaker and Visiting University Professor.

Colin Thompson

DDL: + 44 (0) 121 244 0306
Mobile: 07831 588310
Main T: + 44 (0) 121 244 1802
email:colin@cavendish-mr.org.uk
www.cavendish-mr.org.uk
Visit our knowledge pool at: www.cavendish-mr.org.uk for over 75 powerful publications, business models and services.

Also, read our testimonials page to see what others believe.

Our goal is:
Changing Limited People into Limitless People
Turning Limited Companies into Limitless Companies
`Igniting` your success with the new powerful and inspirational books from Arima Publishing UK ;

`Accelerate with Impact` - by Colin Thompson ISBN: 978-1-84549-289-2

`Create Your Own Success Story` - by Colin Thompson ISBN: 978-1-84549-260-1

Both of these publications help you to be successful in business life and in general life. These books can be purchased from;

www.amazon.co.uk
www.amazon.com
www.cavendish-mr.org.uk
www.arimapublishing.co.uk
and all High Street bookshops worldwide

Accreditation: UK Registered Learning Provider:10025755

Our mission is two-fold: first, to offer insights that enable people to discover both their personal and business potential; and second, to do so in a fun and effective way that fosters connection and community. We do this via business consulting, publications, seminars and speeches.

We can all choose to walk a path with heart and accountability. Our work can support our path to be one of personal development, contribution to society and positive `bottom-line` results.

You're receiving this email because of your relationship with Cavendish. Please confirm your continued interest in receiving emails from us. Due to the necessity to upgrade the database some people who had previously 'unsubscribed' may have been included. If this is the case please feel free to unsubscribe again and we apologise in advance for any inconvenience. If you wish to stop receiving helpful learning articles, please email info@cavendish-mr.org.uk

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Do You have a Clear Plan in Place?

Thu, 22 Oct 2009 18:05:25 +0200

Ten top tips for the innovative leader

Please request your complimentary publication `Personal Goal Setting Report`. The 7 step process to defining and achieving your personal goals.This is a unique approach to improvement in your success programme. email: info@cavendish-mr.org.uk

In an increasingly competitive world innovation is the key to having an advantage. Whether you are leading a large or small organisation, you have to develop creative talents. It's a challenging prospect. Here are his ten top tips to help unleash the innovation potential in your team.

1. Have a vision for change

You cannot expect your team to be innovative if they do not know the direction in which they are headed. Innovation has to have a purpose. It is up to the leader to set the course and give a bearing for the future. You need one overarching statement which defines the direction for the business and which people will readily understand and remember. Great leaders spend time illustrating the vision, the goals and the challenges. They explain to people how their role is crucial in fulfilling the vision and meeting the challenges. They inspire men and women to become passionate entrepreneurs finding innovative routes to success.

'The innovative leader encourages a culture of experimentation. You must teach people that each failure is a step along the road to success. That means you must give them the freedom to fail.'

2. Fight the fear of change

Innovative leaders constantly evangelise the need for change. They replace the comfort of complacency with the hunger of ambition: 'We are doing well but we cannot rest on our laurels we need to do even better'. They explain that while trying new ventures is risky, standing still is riskier. They must paint a picture that shows an appealing future that is worth taking risks to achieve. The prospect involves perils and opportunities. The only way we can get there is by embracing change.

3. Think like a venture capitalist

VCs use a portfolio approach so that they balance the risk of losers with the upsides of winners. They like to consider a large number of proposals. They are comfortable with the knowledge that many of the ideas they back will fail. These are all important lessons for corporate executives who typically consider only a handful of proposals and who abhor failure.

4. Have a dynamic suggestions scheme

Great suggestion schemes are focused, easy to use, well-resourced, responsive and open to all. They do not need to offer huge rewards. Recognition and response are generally more important. Above all they have to have the whole-hearted commitment of the senior team to keep them fresh, properly managed and successful.

5. Break the rules

To achieve radical innovation you have to challenge all the assumptions that govern how things should look in your environment. Business is not like sport with well-defined rules and referees. It is more like art. It is rife with opportunity for the lateral thinker who can create new ways to provide the goods and services that customers want.

6. Give everyone two jobs

Give all your people two key objectives. Ask them to run their current jobs in the most effective way possible and at the same time to find completely new ways to do the job. Encourage your employees to ask themselves: What is the essential purpose of my role? What is the outcome that I deliver that is of real value to my clients (internal and external). Is there a better way to deliver that value or purpose? The answer is always 'yes' but most people never even ask the question.

'Innovative leaders explain that while trying new ventures is risky, standing still is riskier. They must paint a picture that shows an appealing future that is worth taking risks to achieve.'7.Collaborate

Many CEOs see collaboration as key to their success with innovation. They know they cannot do it all using internal resources so they look outside for other organisations to partner with. A good example is Mercedes and Swatch who collaborated to produce the Smart car. Each brought different skills and experiences to the team.

8. Welcome failure

The innovative leader encourages a culture of experimentation. You must teach people that each failure is a step along the road to success. To be truly agile, you must give people the freedom to innovate, the freedom to experiment, the freedom to succeed. That means you must give them the freedom to fail too.

9. Build prototypes

'Don' debate it, test it' is the motto of a innovative financial services organisation. Try the new idea at low cost in a section of the marketplace and see what the customer's reaction is. You will learn far more in the real world than you will in the test laboratory or with focus groups.

10. Be passionate

Focus on the things that you want to change, the most important challenges you face and be passionate about overcoming them. Your energy and drive will translate itself into direction and inspiration for your people. It's no good filling your bus with contented, complacent passengers. You want evangelists, passionate supporters; people who believe that reaching the destination is really worthwhile. If you want to inspire people to innovate, to change the way they do things and to achieve extraordinary results then you have to be passionate about what you believe in and you have to communicate that passion every time you speak.

With absolute clarity and conviction you will be successful when you take on board this information below;

Click on each image below and see for yourself.

'Two little words that can make the difference: START NOW.'

Success is a journey, not a destination
Our goal is simpleto help you reach yours

New books to help you with your success;

`Formula for Success` by Colin Thompson - Foreword by Karl George OBE

`Quantum Leap to Success` by Colin Thompson - Foreword by Sir Maurice Donn

Check out www.cavendish-mr.org.uk for details by clicking on the publications button.

Are you ready to commit to making a Quantum Leap in your performance? Then, we invite you to invest in the publication `Quantum Leap to Success`. Please use this website www.cavendish-mr.org.uk as a resource centre for daily motivational quotes, as well as for a listing of motivating books, CD`s/DVD`s/PDF`s, guides, research reports, publications and online resources. `Quantum Leap to Success` can be purchased from the secure e-commerce website:www.cavendish-mr.org.uk
Fresh thinking requires a vision to see beyond the conventional. When you combine excellent quality with outstanding value for money you will begin to realise the full potential of creative and well presented business solutions. Together, the sky`s the limit. Have passion to learn and let the knowledge help you to be successful in life.

About the Author Colin Thompson

Colin is a former successful Managing Director of Transactional/Print Manufacturing Plants, Print Management/Workflow Solutions companies and other organisations, former Group Chairman of the Academy for Chief Executives and Non-Executive Director, helping companies raise their `bottom-line` and `increase cashflow`. Plus, helping individuals to be successful in business and life in general. Author of several publications, research reports, guides, business and educational models on CD-ROM/Software/PDF and over 400 articles published on business and educational subjects worldwide. Plus, International Speaker and Visiting University Professor.

Colin Thompson

DDL: + 44 (0) 121 244 0306
Mobile: 07831 588310
Main T: + 44 (0) 121 244 1802
email:colin@cavendish-mr.org.uk
www.cavendish-mr.org.uk
Visit our knowledge pool at: www.cavendish-mr.org.uk for over 75 powerful publications, business models and services.

Also, read our testimonials page to see what others believe.

Our goal is:
Changing Limited People into Limitless People
Turning Limited Companies into Limitless Companies
`Igniting` your success with the new powerful and inspirational books from Arima Publishing UK ;

`Accelerate with Impact` - by Colin Thompson ISBN: 978-1-84549-289-2

`Create Your Own Success Story` - by Colin Thompson ISBN: 978-1-84549-260-1

Both of these publications help you to be successful in business life and in general life. These books can be purchased from;

www.amazon.co.uk
www.amazon.com
www.cavendish-mr.org.uk
www.arimapublishing.co.uk
and all High Street bookshops worldwide

Accreditation: UK Registered Learning Provider:10025755

Our mission is two-fold: first, to offer insights that enable people to discover both their personal and business potential; and second, to do so in a fun and effective way that fosters connection and community. We do this via business consulting, publications, seminars and speeches.

We can all choose to walk a path with heart and accountability. Our work can support our path to be one of personal development, contribution to society and positive `bottom-line` results.

Take Advantage of Every Opportunity

Tue, 13 Oct 2009 19:01:59 +0200

Please request your complimentary publication `Winning the Game`. This is a unique approach to organisational improvement. email: info@cavendish-mr.org.uk

`Cash is king`- collect with passion and you will be successful!
Its easy to forget the state of your bank balance in the cut and thrust of business life. But losing sight of your cash situation can be disastrous. So please read on and win your way to success.

Cash is crucial to success for any commercial enterprise if youre out of cash and out of credit youre out of business. A company can fail because of shortage of cash even while profitable. And the current scarcity of credit makes this even truer. In the words of Caroline Theobald, managing director of Bridge Club: In this difficult environment you need to keep eyes like a hawk on cash.

Of course, cash isnt the only factor in business success. Its still important to invest in people and training, but every penny has to count. Theres no room for complacency or casual spending. One service we have found particularly useful is the text message the bank sends every morning saying how much is in our account. Its not very nice waking up to it on the mobile phone, but it makes you focused on your bank balance and its very easy to see whether you are in the red or black.

Gut feelings are not enough when dealing with cash flow good solid documentation takes the guessing out of running a business and in the long run saves time and anxiety. It is also a legal requirement: limited companies must submit annual audited records to Companies House or face a £5,000 fine.

To monitor your cash situation you need records covering income and expenses as well as assets and liabilities. This will help prepare financial statements and forecasts such as balance sheet, profit and loss statement and cash flow projection, ideally looking three years ahead.

Documentation is boring and easily slips down the priority list, but it cannot be avoided. So if you hate it, delegate the task to a book-keeper. New businesses can tackle accounts manually, but it makes sense to use a computer. Spreadsheets and financial accounting packages such as Microsoft Excel and Sage start from a few hundred pounds.

Having your cash flow on a computer lets you predict trends, calculate how much you need to save, and schedule investment. You can also model what if? scenarios, work out measures such as internal rates of return and net present value, and discover whether you are charging enough. A practical suggestion is to have a separate bank account into which you place all payments you owe for VAT and PAYE, so there are funds there to pay when they are due.

One factor that can seriously damage your cash flow is the present tendency for businesses to hold onto their money longer and pay late. These late payments are having a ripple effect through the SME community. Receivables will trend up, and some of your customers may become troubled as well. Do not keep extending credit. If certain customers consistently pay late, try issuing them with invoices earlier.

The trouble is that you may be more focused on winning the next sale than collecting payment for the last one. Having got it wrong in the past and been lax about the need to invoice promptly. If your clients are public sector, they should pay within 10 days. If youre not paid on time you should be on the phone asking for the money.

Female entrepreneurs are particularly reticent about this, perhaps because they are embarrassed or worried they will seem rude and pushy. Youve supplied the goods or services, you have a right to request on being paid.

Another factor that can affect cash flow is seasonal variation. If you sell T-shirts you are likely to do more business in summer, whereas a focus on ski gear will bring most of your sales in the winter months. You need some financial reserves to cover the barren times and unforeseen expenses.

There may be more cash in the business than you realised. Allan Leighton, who transformed Asda from a £500m company to one sold to Wal-Mart for £6.2bn, recommends going through a cash marathon to review the opportunities. Cash has always been king now it is more than king, he says. If you have £1m in cash today it will buy you what £5m would have done a year ago. I call it the power of five. If you have cash, its power has gone up fivefold.

Leighton recently put the nine companies on whose boards he sits through a cash review, including Royal Mail, Selfridges and BSkyB. They have been coming back to me and saying they found more cash in the business than they thought they would, he says. You may be amazed at the results if you take these measures.

Ways to find more cash include improving productivity i.e. doing more for less, bargaining hard with suppliers, and setting tougher targets when you invest in new equipment to shorten the return on investment. Aim to get your money back in four years rather than five or six.

eBay flourished at a time when other dotcoms went bust thanks to its strong cash position. The company made a commission on each sale, its costs were minimal with few staff and no distribution or manufacturing, and marketing was largely by word of mouth. Cash was not tied up in working capital or inventory, waiting for customers to pay, or having to pay suppliers.

Similarly, Tesco online was successful in the UK because it did not need expensive infrastructure ¯ groceries were picked and packed in the companys largest stores. Given Tescos broad market presence, expensive marketing was unnecessary, and online shoppers tended to pick products with higher margins. Their orders were also typically larger than in the shops, making the delivery expense worthwhile. By contrast, Webvan, a dedicated online grocery service in the US, failed, despite a $1.2bn investment. Margins were thinner (2 to 3 per cent as opposed to 6 to 8 per cent in the UK), the cost of acquiring each customer was high, delivering the orders was expensive, it lacked the buying power of large grocery chains, and people didnt spend enough.

Webvans sums simply did not add up. If it costs you too much to do what you want to do, however innovative you are, the business will die. Thats why you need the cash-flow model and the forecasts.

In the end, its quite simple. To quote Charles Dickens Mr Micawber addressing his wife in David Copperfield: 'Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.'

`Be Paid On Time`
Cavendish have launched a comprehensive MasterClass business model on what is required to ' Be Paid On Time '. The publication contains `all` the information on how to improve your skills to advance Your Company's Potential by introducing `The bepaidontime MasterClass Model`, to increase cashflow and the retention of the customer. Details on www.cavendish-mr.org.uk

A testimonial given by ClearlyBusiness - A BARCLAYS Bank company.

`Use the `bepaidontime` system and see just how this `unique` system works.`

'Two little words that can make the difference: START NOW.'

Scess is a journey, not a destination
Our goal is simpleto help you reach yours

New books to help you with your success;

`Formula for Success` by Colin Thompson - Foreword by Karl George OBE

`Quantum Leap to Success` by Colin Thompson - Foreword by Sir Maurice Donn

Check out www.cavendish-mr.org.uk for details by clicking on the publications button.

Are you ready to commit to making a Quantum Leap in your performance? Then, we invite you to invest in the publication `Quantum Leap to Success`. Please use this website www.cavendish-mr.org.uk as a resource centre for daily motivational quotes, as well as for a listing of motivating books, CD`s/DVD`s/PDF`s, guides, research reports, publications and online resources. `Quantum Leap to Success` can be purchased from the secure e-commerce website:www.cavendish-mr.org.uk
Fresh thinking requires a vision to see beyond the conventional. When you combine excellent quality with outstanding value for money you will begin to realise the full potential of creative and well presented business solutions. Together, the sky`s the limit. Have passion to learn and let the knowledge help you to be successful in life.

About the Author Colin Thompson

Colin is a former successful Managing Director of Transactional/Print Manufacturing Plants, Print Management/Workflow Solutions companies and other organisations, former Group Chairman of the Academy for Chief Executives and Non-Executive Director, helping companies raise their `bottom-line` and `increase cashflow`. Plus, helping individuals to be successful in business and life in general. Author of several publications, research reports, guides, business and educational models on CD-ROM/Software/PDF and over 400 articles published on business and educational subjects worldwide. Plus, International Speaker and Visiting University Professor.

Colin Thompson

DDL: + 44 (0) 121 244 0306
Mobile: 07831 588310
Main T: + 44 (0) 121 244 1802
email:colin@cavendish-mr.org.uk
www.cavendish-mr.org.uk
Visit our knowledge pool at: www.cavendish-mr.org.uk for over 75 powerful publications, business models and services.

Also, read our testimonials page to see what others believe.

Our goal is:
Changing Limited People into Limitless People
Turning Limited Companies into Limitless Companies
`Igniting` your success with the new powerful and inspirational books from Arima Publishing UK ;

`Accelerate with Impact` - by Colin Thompson ISBN: 978-1-84549-289-2

`Create Your Own Success Story` - by Colin Thompson ISBN: 978-1-84549-260-1

Both of these publications help you to be successful in business life and in general life. These books can be purchased from;

www.amazon.co.uk
www.amazon.com
www.cavendish-mr.org.uk
www.arimapublishing.co.uk
and all High Street bookshops worldwide

Accreditation: UK Registered Learning Provider:10025755

Our mission is two-fold: first, to offer insights that enable people to discover both their personal and business potential; and second, to do so in a fun and effective way that fosters connection and community. We do this via business consulting, publications, seminars and speeches.

We can all choose to walk a path with heart and accountability. Our work can support our path to be one of personal development, contribution to society and positive `bottom-line` results.

New Bundle offers Free MadeToPrint with Imposition (£317 value)

Tue, 06 Oct 2009 18:12:03 +0200

XChange UK announce new bundle offering FREE MadeToPrint
a £317 valuewith QuarkXPress 8 full or upgrade purchase

London, UK XChange UK, the source for extended technology worldwide, are pleased to announce the availability of a new bundle that offers users a free MadeToPrint with Imposition with every QuarkXPress 8 full or upgrade purchase from the 1st October 2009. Users can save £317 and obtain an exciting companion product that can automate their workflow, increase their productivity and streamline their day-to-day operations.

MadeToPrint XT optimises and extends output and print options in QuarkXPress and has been designed for professional users who have to create, organise and control significant numbers of print/output jobs. MadeToPrint XT helps to streamline these tasks as well as automate the creation of PDF, EPS and PostScript files. The XTension allows even complex print settings to be saved as repetitive job options, thereby ensuring efficient and safe production.

At its simplest, MadeToPrint XT combines all the aspects of a given print job into a simple selectable item. These can include: the desired printer on the network, any special settings required for that device in the chooser, page setup, and print settings (including custom separation definitions and registration-mark text and placement). In addition, MadeToPrint XT allows for grouping of multiple print-job definitions into custom sets that can be invoked at any time to output the same document to multiple output devices, using the parameters specified for each device in its own print job. This means that with a single operation, a user can elect to have a document output to a black-and-white laser printer, a colour-proofing device, and a high-resolution image setter, and be assured that all settings in all dialogues are correct. Thus, MadeToPrint XT reduces media waste caused by improper settings of chooser selections, and allows for unattended output of QuarkXPress documents to any variety of formats.

MadeToPrint XT 8 provides powerful features like batch processing, token-based file naming and flexible layer output that extend Quarks output functionality. Additionally, the XTension allows hotfolder based processing of QuarkXPress 8 files, thus enabling users to output QuarkXPress documents completely unattended.

MadeToPrint XT's latest version includes the new Imposition function, so users can print fully imposed PDF files from their QuarkXPress documents. Users can output fully imposed jobs, from booklets to N-up, choose between run list (e.g. 4 pages step & repeat) and imposition sheets (e.g. 2 pages A4 single sided). The preconfigured imposition schemes cover all common imposition configurations. Users simply activate the Imposition function and compile the required imposition scheme with the entries under the Runlist and Sheet configuration categories provided.

The bundle is available now through XChange UK. To order, or for more information, users can visit www.xchangeuk.com, or call on +44(0)845 259 0255 during UK business hours. Email address is info@xchangeuk.com.
#

end

France Wants Warning Labels on Airbrushed Photos...

Mon, 05 Oct 2009 16:51:15 +0200

WARNING - THIS IMAGE WAS AIRBRUSHED OR OTHERWISE TOUCHED-UP WITH ADOBE PHOTOSHOP PHOTO EDITING SOFTWARE. may read the warnings next to some images used by French magazines and newspapers. As we read;

France May Put Warning Labels on Airbrushed Photos
'Like many Western countries, France requires health warnings on tobacco and alcohol and similar labels on processed food containing genetically modified ingredients. France's regulators are also notoriously tough on marketing campaigns that make false product claims. Now some French legislators want to take consumer protection to an unprecedented level, requiring that advertisements, product labels and even campaign posters carry a warning when they feature a photograph that's been digitally enhanced.

The drive against airbrushed photos is being headed by conservative parliamentarian Valérie Boyer, who says the widespread use of digital technology to alter images is feeding the public a steady visual diet of falsified people, places and products. This artificial reality leads people to expect perfection from themselves and the world in an impossible way, she says. 'When writers take a news item or real event and considerably embellish it, they are required to alert readers by calling the work fiction, a novel or a story based on dramatized facts. Why should it be any different for photographs?' Boyer asks.'
Read full featured article here...
Source: http://www.time.com/time/world/article/0,8599,1927227,00.html

Interesting debate and article. Now, I'd like to see the authorities try and prove a photo editing software was used to alter an image or layout! Maybe with a preflight application?

Gotta love the 'TIME Top Ten Doctored Photos' too!

Markzware FlightCheck Professional Now Supports QuarkXPress 8 & Adobe CS4

Fri, 02 Oct 2009 10:54:13 +0200
FOR IMMEDIATE RELEASE

NEW PREFLIGHTING SOFTWARE - Offers Digital Printers, Publishers and Graphic Designers Complete Quality Control
Markzware FlightCheck® Professional Now Supports QuarkXPress 8 & Adobe CS4 Suite

SANTA ANA, California, August 28 , 2009 -- Markzware (www.markzware.com), the recognized authority and inventor of preflighting, released a significant upgrade to its popular preflighting solution, FlightCheck Professional for Macintosh. In light of today's economic challenges, Markzware is offering $100 off this latest version of FlightCheck Professional v6.5 which has full support for the Adobe CS4 Creative Suite and QuarkXPress 8. This powerful upgrade gives printers, graphic designers and publishers the ability to preflight efficiently, avoiding costly production errors.

For well over a decade, the process of preflighting has been an important step for printers and prepress professionals worldwide. Preflighting is the process that identifies and corrects missing items and errors in customer files before they become bigger and more costly problems further downstream in the printing process.

'I swear by my Markzware FlightCheck Pro' said Martin Harding, prepress Mac operator, at Prometheus Press. Harding continues, 'I like it because it quickly identifies RGB color space, trapping and over-printing issues and even problems that might have occurred with ink density. I work on a high-end system with built-in file-checking, but I still think it is important to have a system like FlightCheck Pro to catch any problems early on.'

The earlier in the workflow hazards are flagged and fixed, the smoother the workflow will be and the less expensive the job will be to print. Unlike other preflight solutions which are plug-ins to native applications, FlightCheck is a stand alone application, allowing you to quickly and easily establish your preferences {Ground Controls} which identify the deal breakers in your workflow. If anything in the document breaks your rules, FlightCheck flags the problem. Pamela V.White, a design manager who is self employed in graphic design & prepress services, said,'FlightCheck 6.5 is a great tool and extremely valuable to me, my department colleagues and the printers. It ensures that we are releasing print ready files, problem free. I feel it is also a fabulous learning application for those trying to understand the preflight process and checks.'

Today, with shorter digital print runs and time demands, digital files going to press require a higher level of quality control. Whether the document is in Adobe PDF, InDesign, or QuarkXPress, they all have several categories of elements, like fonts, colors, images, document setup and more; any of which may result in a print problem. FlightCheck's versatility for thoroughly checking all of a document's elements in several file-types is one reason why it remains so popular and is considered by many to be the preeminent quality control tool.

Another long-time user of FlightCheck, Dan Williams, said, 'FlightCheck has been an essential application to our workflow by enabling us to identify and remedy file issues prior to print production. I would highly recommend a consistent preflight procedure (using FlightCheck) to any quality-controlled graphics environment.'

Virtually anything that needs to be printed, including magazines, catalogs, brochures, advertisements, manuals, catalogs, packaging and more, can benefit by the use of this quality control tool. Today's competitive and challenging economic environment requires printers and publishers to double and triple-check these document elements to avoid costly reprinting. Print, publishing and graphic arts professionals continue to rely on and profit from this new version, FlightCheck 6.5.

Rob Hawks, vice president of Prepress Online, said, 'In our line of work, we preflight and review our client's files to make sure that they are print compliant. We use FlightCheck as one of our first lines of defense. The software helps flag problems that we need to be aware of when dealing with fonts and images. I would highly recommend FlightCheck and all of the Markzware products for your workflows.'

Pricing and Availability:
This software upgrade of FlightCheck Professional 6.5 for Macintosh is available immediately. You can upgrade to FlightCheck Professional from v5.0 and higher for $99. FlightCheck Designer has been discontinued but users may upgrade to FlightCheck Professional 6.5 for only $129. The full version is available for $399. End users can purchase from CDW and others. Resellers may purchase through Lifeboat Distribution.

5 and 10 packs or FlightCheck site licenses are also possible; see links here:

FlightCheck Professional v6.5 (5-user) - link

FlightCheck Professional v6.5 (10-user)

About Markzware:
Markzware, incorporated in 1995, is a privately-held company based in Santa Ana, California. Markzware develops quality control tools, preflighting and data conversion solutions for the international graphic arts, printing and digital multimedia industries. Markzware B.V., located in Rijswijk, the Netherlands, is the company's headquarters for activities in Europe, the Middle East, Africa, and Asia.

2009 Markzware. All rights reserved. Covered by U.S. Patent #5,963,641.

Contact:
Mary Gay Marchese
949-756-5100, ext. 250
pr@markzware.com

-30-

Managing Growth...Directing Excellence

Thu, 01 Oct 2009 17:56:23 +0200
'Catalyst for Change (Evolution Not Revolution)'

ROI (Return on Investment) doesn't have to be a four-letter word

There are a few English words you can use almost anywhere in the world, anytime, and be understood: 'Hotel', 'Okay,' and 'Taxi' belong to this class. Among business people, so does the word ROI.

For several years now, cautious managers everywhere treated 'Return on Investment' and its acronym 'ROI' as words to live by. When a major proposal is on the tableinfrastructure upgrade, marketing programme, changes to the product line, or anything else that calls for significant spending and therefore a business case the normal response from the top has been something like this:

'We'll invest only if we're sure that it comes with a good ROI. Show us the ROI first, then we'll talk about funding'.

For example, somewhere between 70 and 80% of all major IT project proposals in the US and Europe now require a return on investment (ROI) analysis return on investment (ROI) before funding. The figure varies, depending on which analyst you read, but there's no question that the 'ROI required' rate is high.

From such reports, you might think that the ROI is winning the trust of decision makers everywhere. In fact, however, ROIs reputation as a reliable basis for decision making may have peaked and now be on the slide. The same analysts who tell us how many funding decision require ROI also tell us that more than half of such projects never deliver the expected ROI. Several years ago, for instance, Nucleus Research published a now-famous study after interviewing SAP reference customers. Nucleus found that 57% of them did not receive a positive ROI.

A majority of the participants in our colleagues Building the Business Case Building seminars report that they no do not trust vendor produced ROI figures. Even worse, ROI predictions from their own project and product managers have not proven accurate. In some places, we find that ROI is little better than a four letter word.

'Why then,' you might ask, 'do decision makers put so much emphasis on ROI when so many ROI figures do not predict what actually happens? If ROI cannot do any better than that, don't we cause more bad decisions than we prevent by trusting ROI?

ROI in fact is a legitimate concept: It makes very good sense to compare expected returns to expected investment costs. The issue, however, is that ROI figures are insufficient and even dangerous to useif they stand alone. An ROI estimate tells us only what we gain if things go as planned.

It may be that gamblers, more often than business people, understand why ROI by itself is not enough and what else the decision maker also needs to know.

Two Kinds of Odds
The term 'odds' means two different things to gamblers. Serious gamblers know that one kind of odds has to be weighed against the other kind, in order to maximize the chances of coming out ahead.

At the racetrack, 'odds' can mean (1) the ratio of the winning pay out to the cost of the bet (just like simple ROI !). A winning £2 bet on a 20-to-1 long shot puts £40 in your pocket. The skill in betting lies in knowing how the pay out odds compare to the other kind of odds, (2) the actual probability of winning.

One glance at the tote board shows you the current pay out odds. (One glance at the bottom line of your ROI spreadsheet shows the predicted returns on your business investment, if everything goes as planned).

However, if you do go to the races, just watch the serious gamblers working, furiously, down to the last minute before the betting windows close, trying to estimate the probability odds. They visit the paddock and have a look at the horses. They pour over racing forms and tip sheets, and they work and re-work their racing calculators. Otherwise, they will tell you, it would all be 'luck' and nothing more.

I believe that ROI estimates in business are often unlucky because managers give too much attention to the pay out odds and too little attention to the probability odds.

Very few know how to how to maximize ROI by measuring and managing uncertainty.

Assumptions, Assumptions, Assumptions
Every forward-looking ROI estimate and business case stands on a foundation of assumptions. it can be no other way, after all, because the case predicts the future. Everything about the future is an assumption. A detailed case for a major business investment may require dozens or hundreds of assumptions about such things as future:

Business volume
Competitor's actions
Market share
Fuel prices
Government regulation
Software development time
Salary increases
Productivity improvements
Implementation costs
Ramp up time
Labour requirements
Raw materials prices

Some assumptions come with high certainty, others come with high uncertainty. But every assumption adds some uncertainty to the bottom line cash flow or ROI estimate. It's tempting to lump all these factors together into a single risk figure.

The key to managing your investment so as to minimise risk and maximise returns, is not treat risk as a single factor, but instead carefully weigh individual risk factors to determine:

Which assumptions carry the most weight in driving results?
What happens to results if we do not manage critical success factors to target levels?
Sensitivity analysis addresses questions like these.
What is the likelihood of other results besides the most likely predicted outcome?
Which risk factors have to be watched carefully, as indicators that predictions need revising?
Risk analysis answers questions like these.
Example, for instance, had a proposal to begin a major ERP system implementation. This bottom line prediction was an incremental cash flow gain of £19.5 million over five years. That was a good looking 'R' on an 'I' of about £3M.

Here, however, is part of what turned up in a sensitivity analysis of individual assumptions:

The table shows the correlation between each assumption and the overall projected results, based on Monte-Carlo simulation with the same financial model that predicted a £19.5 gain.

There were some messages here that made management sit up and take notice.

The ROI model assumed the ERP system would help lower new product development time by 30%. The high correlation between this assumption and financial results shows how the attractive ROI depends on reaching that target. In this case, a reduction of only 15% in development time (instead of 30%) brought the predicted gains down to £5M.
The ROI model also assumed the ERP system would be fully implemented in 2 years (50% implementation per year). Clearly, missing the 2 year target would adversely impact the overall return on this investment. Stretching the implementation out to 4 years would raise costs and lower benefits to bring a zero net gain.
It's one thing to know generally that factors like implementation time and reduced development time are important. It's another thing entirely to bring home the importance of those factors in concrete terms. If you know ahead of time where the risks are, you can manage them (or at least watch them) and avoid unpleasant surprises down the road.

To your success.

The Bigger Picture A Business Case at A Glance
You are pinched for time and you are supposed to build a ROI Business Model?

Cutting down preparation time for your Business Case is achieved by several means. First of all, you must have a clear idea about what needs to be done. That way you can manage your time well and use even smaller timeslots. In order to get the bigger picture you get an entire Business Case at a glance today.

In order to use the content of the following efficiently, save the information.

A ROI Business Case consists of three parts:

1. An Influence Matrix
2. A Financial Model
3. A Sensitivity Analysis

These three steps are consecutive and you can do one at a time.

Starting out with an Influence Matrix helps you to visualise the decision issue. Normally you deal with complex decision issues. If they would be simple you would not spend so much time on calculating their ROI. The Influence Matrix decomposes complex issues into quantifiable elements. The Influence Matrix thereby also helps to define them. As the decomposition only works, if the relationship of the singular elements is not forgotten, the Influence Matrix connects them via arrows.

The financial model quantifies the elements of the Influence Matrix. The Influence Matrix is the basis for the structure of the financial model and ensures that everything is included into the financial model. The dependencies, visualised in the Influence Matrix, are now converted into formulas. You most probably have a lot more data than you think in order to fill the financial model. By interviewing subject matter experts you gather the rest of all data you need for completing the financial model. The subject matter experts are asked to make estimates for the years to come. As an exact number would certainly be wrong, they are asked to estimate a range within which the possible number is to be expected with a 90% certainty.

The sensitivity analysis provides certainty and identifies risk factors. As the data you are working with are not exact numbers but ranges, a sensitivity analysis is the tool you need to provide certainty of your results. A simple Excel-Add-On makes a Monte Carlo Simulation a simple and therefore timesaving task. But the sensitivity analysis achieves more than showing the probability of your results. By using a tornado diagram also the most crucial risk factors can be identified.

Taking one step at a time the Business Case is not an overwhelming time consumer any more. Furthermore, it is ensured that the entire decision issue is captured the right way so that you do not need to review your Business Case over and over again. This way your Business Case will be perfect and unappeasable right away.

You will save 50% of your former preparation time with our method.

Getting Started with the Business Case The Influence Matrix

The projects for which you are supposed to build a Business Case are complex. If they would be simple you would not spend so much time on their Business Case. Business. How to save time with the so called Influence Matrix in order to visualise complex decision issue is what you will learn today.

The Influence Matrix helps you to decompose a complex issue by defining and relating quantifiable elements. This tool helps you and your project group to agree on the definition of the decision issue by clearly visualising it for everyone. You will have experienced this as a challenging task. Probably it is the hardest part because one cannot just start calculating. And is the Business Case not about calculating the ROI? Why do I have to take the hassle of the Influence Matrix?

If the definition of your decision issue is incorrect or incomplete, the best data and the most elaborate statistical methods cannot help you to achieve a high quality Business Case.

A typical Influence Matrix that helps you with defining your decision issue looks like this:

This Influence Matrix shows a very simple project in order to explain the Influence Matrixs general structure that is the same for every project. The decomposition of the decision problem is achieved by dividing it into 4 main categories: Value(s), Scenarios, Decisions and Uncertainties. The value is the reason for your Business Case, it is the value you want to maximise or minimise. Financial values are i.e. ROI and cash flow, non-financial values are quality, image or innovation. In this Influence Matrix the value is profit. Values are always visualized by hexagons.

Scenarios are investments, projects or actions which include a bundle of decisions. The base level is the Current Course & Speed Scenario (What happens, if nothing is done?). It is compared to at least one additional scenario. Here it is the scenario caused by a new product.

Decisions are everything you can control. A decision is i.e. increasing the production volume. Uncertainties on the other hand are everything you cannot control. Uncertainties influence the value you want to calculate and their interrelation is captured by setting arrows depicting the dependencies. Price and sold units influence the revenue whereas variable and fixed costs influence total costs. Increasing the production volume has an influence on variable cost and sold units, but leaves the price and fixed cost unaffected. The six uncertainties within the project all influence the profit which is the value to be quantified.

By using these four categories you can visualise your entire project with all its complexity on one PowerPoint slide. That seems impossible? It is not. Also, the bigger a project the more necessary is the adequate reduction of complexity.

This is supposed to save me time? You must be kidding!, you might think. We are absolutely serious. Quantifying Soft Benefits - The Financial Model.

How can a financial model save time? This is certainly not my experience!, you might say.

You save time by doing it the right way right away!

You save time by avoiding mistakes. You avoid mistakes by doing things correctly right away. You do things correctly by knowing what needs to be done when. This is the unbeatable advantage of a clear and understandable step-by-step method.

The financial model is a good one when it is well structured, all its formulas are correct and it is filled with high quality data. How do you get there?

First of all, you start with structuring your financial model. Now it becomes obvious that the Influence Matrix saves you a lot of time because it contains the structure already. In order not to make things complicated again (you just decomposed a complex problem!) you keep the financial model simple. An elaborate financial model might look fancy at first, in reality it is only prone to mistakes, a lot of reviewing and does not convince decision-makers. Your Business Case is successful, if it is convincing. You can only convince, if a matter is clearly understood.

Simple wins and saves time!

Second, dependencies need to be converted into formulas. Again it becomes obvious that the Influence Matrix is the basis for your financial model. The dependencies are depicted by the arrows in the Influence Matrix. For the formulas the same is true as for the structure of the financial model: Keep the formulas simple! Basic arithmetic operations are not only sufficient, but the best way to go! Complicated formulas cause only more mistakes and too much reviewing time.

The dependencies of the uncertainties in the Influence Matrix determine the value you want to calculate in your ROI Business Case. If you are not interested in financial values but soft benefits like quality or customer satisfaction, the procedure is just the same. The preliminary work has already been done in the Influence Matrix. Quantifying intangibles in your financial models is no further work load. It is a reliable quantification into dollars and cents instead.

Third, you need to collect all relevant data for the financial model. You might have already a lot more data than you think. The rest is collected by interviewing subject matter experts. The clue is that they are not supposed to give you exact data, but estimate ranges instead. Business Cases are about forecasting the future. Have you met anyone who can? It is highly unlikely that an exact number, i.e. for a currency conversion in 2010, will be correct. It is rather likely that a number within a certain range of a minimum, maximum and most likely value will be correct. In other words: approximately right beats precisely wrong. In order to have data of a good quality, the assumptions of the subject matter experts are calibrated. Their estimates of a certain range are made within a confidence interval of 90%.

At last, you can complete the financial model with filling in all your data. By having interviewed high level subject matter experts you possess best quality data. The structure and formulas of the financial model is the necessary condition, high quality data the sufficient one for a successful financial model. Either one is important. Best data cannot save a bad financial model and bad data makes the best structured financial model useless.

Having a clear idea about what needs to be done prevents the usual time consuming mistakes to creep in!

No Risk, No Fun or Success by Minimising Risk? - The Sensitivity Analysis

Risk might be fun in bungee jumping and white-water rafting, but it is not in business decisions worth millions.

Decision-makers are asking for a ROI Business Case in order to get answers to their questions. What is the projected cash flow of my project or investment? When will I reach the break-even? What risks do I face? The bigger the project the more the question on certainty of the results and risks of the project will be put. Is this wishful thinking of decision makers? No, it can be done. And it is easier than you might think.

A Business Case can give these answers only with help of a sensitivity analysis. Decision-makers do not believe in forecasts just because they are joined by a pound (£) sign. A sensitivity analysis consists of a Monte Carlo Simulation and a Tornado Diagram. The Monte Carlo Simulation provides certainty as it defines the probability of the outcomes. The Tornado Diagram determines risk factors and analyses them.

How can crazy statistics possibly save me time?, you might ask. The bad news first: there is no way around it. The good news: with the right software it is not difficult at all. A Sensitivity Analysis is easy to perform for everyone using Microsoft Excel©. In the financial model you had worked with estimated intervals. You need the Monte Carlo Simulation in order to tell you about the most probable outcome (which will be an exact figure and not a range). Again, this exact outcome will only be reached with a certain probability and is rather to be read as point of orientation.

Not being able to deliver the numbers the decision-makers requested is quite a backlash. If you cannot answer how certain your calculated results are, you also might have not started at all. That would have saved you a lot of time, too. A sensitivity analysis provides you with all answers to the questions decision-makers might possibly ask and therefore saves time within the decision process. The sensitivity analysis provides decision-makers with the certainty they need for the decision. If they trust your entire financial model and know that scenario A and B have value x and y which will be reached with probability z they have the basis they need.

Identifying and analysing risk factors is the only thing left to be done. As solutions or projects are most of the time long term commitments knowing more about the risk factors becomes crucial. The more I know about them, the more effort I can put into minimising them. But what is the most important one? Is it the one I think? The Tornado Diagram identifies the crucial risk factors and analyses them. By looking at the various uncertainties one by one the tornado diagram is able to point out the most crucial ones. It also shows the impact of each risk factor on the result in pounds (£). You will be surprised, often the one you thought the most important can be entirely neglected. Imagine what impact that has on the success of a project! Now, the latest, decision makers are absolutely happy. You gave them everything they asked for!

Presenting a Business Case Successfully

The step-by-step method of building a Business Case efficiently and effectively. Saving preparation time is achieved by

- Examples of Influence Matrices for your industry serving you as a basis
- Excel spreadsheets that help you with your financial model
- Having a clear To Do list telling you what do when
- A Step-by-step explanation how to use every tool

Now that you have finished your Business Case there is only one thing left to do: to present it. The methods saves you time again. The PowerPoint presentation includes all the slides necessary to present a strong business case analysis.

You can present your Business Case successfully because you offer a solid presentation and you can answer any questions your audience might have. By building your Business Case the way you did you are prepared for everything that might come. You will be able to explain why your numbers can be trusted and you can do it with simple words without going ballistic in statistics. Most of the time there will be a question on the quantification of the intangibles. Although seeing an Influence Matrix the first time the audience might be overwhelmed (or just impressed), you can clearly show how everything was measured and why it was measured that way.

Decision-makers want to be convinced and not talked into something. They want to understand the numbers they are supposed to base their decisions on. With your Business Case you can offer them all they want. Due to the clear structure of the Business Case due to the Influence Matrix and the financial model you have a clear idea about the subject and the conclusion you are presenting. As simple as it might sound this is the basis for a successful presentation. Answering questions on the financial model is easy because you named the cells and the formulas you used are simple. Therefore everything can be easily found and explained and you do not get lost in your own financial model. Instead, the decision-makers get their answers and you are the capable and confident professional!

Your Business Case is not a mystery to others but convinces them by offering profound and explicable numbers. Furthermore the software allows you to quickly react and produce new numbers, if the audience asks for them. For example, you can easily show what difference it makes if the numbers have 80% probability instead of a probability of 90%. Again, the decision-makers get their answers and you are the capable and confident professional!

To your success.

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Colin Thompson

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iPod to Mac Transfer

Thu, 24 Sep 2009 18:41:04 +0200
If you are a Mac user owning a iPod, this iPod to Mac Transfer is a must-have software to simplify your digital life. It enables you to transfer music files to iPod without iTunes, and transfer songs from iPod to Mac. If you wonder how to move songs from your iPod to your Mac, or how to copy songs from iPod to Mac, this iPod Transfer to Mac is the best solution.

Key Features of iPod to Mac Transfer

Transfer files to iPod without iTunes
iPod Transfer to Mac can transfer music files, videos and pictures from Mac to iPod without iTunes.

Transfer video, audio, photo from iPod to Mac
All the files on iPod can be transferred to Mac as backup. All iPod compatible file formats are supported, including video: M4V, MP4, MOV, MPEG-4, H.264, audio: AAC, MP3, WAV, AIFF, M4A, image: BMP, GIF, JPEG, PNG.

Support all iPod and iPhone devices
All generations of iPod shuffle, iPod nano, iPod classic, iPod touch are supported, and it also supports iPhone, iPhone 3G and iPhone 3GS.
Why We Choose iPod to Mac Transfer?

Besides the small file size, fast transfer speed and easy operation, iPod Transfer to Mac also has other features.

Find your file quickly
The 'Search' function can help you to search your files in the categories of Genre, Artist, Album for you to find your file as soon as possible.

Show the number of your files automatically
Click video, audio and photo folder, the number of the files will be shown in the bottom of the screenshot.

iPod to Mac Transfer is the all-in-one iPod manager tool on Mac OS, that allows you to transfer files from Mac to iPod and transfer songs, videos, pictures from iPod to Mac.
System Requirements of iPod Transfer to Mac

Processor: Power PC® G4/G5 or Intel® processor
OS Supported: Mac OS X v10.4 - 10.5 - 10.6
Hardware Requirements: 512MB RAM, Super VGA (800¡Á600) resolution, 16-bit graphics card or higher

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Multi Style II XT for QuarkXPress 8 Now Shipping

Wed, 23 Sep 2009 19:48:25 +0200
XChange UK and ThePowerXChange.com, the sources for extended technology worldwide are pleased to announce the release of the award-winning Multi Style II XT for QuarkXPress 8. Multi Style is a must for everyone who works with tables, ad listings, catalogues, brochures, magazines, newspapers and other complex formatting activities. It allows users to swiftly copy and apply complex formatting. With Multi Style XT, once the typographic settings (multistyles) have been defined, they can be instantly copied and pasted onto unformatted text. Using Multi Style II, complex text formatting can be defined in a paragraph style and the formatting of a sequence of paragraphs can be copied onto another sequence of paragraphs.

Multi Style IIs execution is very simple. Users format one paragraph or series of paragraphs the way they want, and then either copy and paste the formatting to other paragraphs or save the formatting as a style to be used over and over again. All formatting that users can apply to text will be included in the style definition: paragraph rules, drop caps, text colour, baseline shift, horizontal scaling, etc. This makes it very simple to alternate the formatting from paragraph to paragraph, and also makes it easy to reapply the formatting if a new paragraph is added or deleted.

A multistyle contains style attributes for one or more words or paragraphs. It is even possible to specify various formatting styles within words and/or paragraphs. The text styles can be applied across a single page onto unformatted text. Multi Style XT analyses the target text and applies the created multistyle based on (sub)field separators. In QuarkXPress 4.x or later it is possible to apply character stylesheets. This is a manual process in which users first need to select words or characters before applying a character style sheet. When using Multi Style II XT this is not necessary, so users save time and money instantly utilising the XTension.

Key features:
- Copy and apply typographic specifications
- Save complex formatting in multistyles
- Multistyles can be applied to a single word, a paragraph or multiple selected words and paragraphs
- Apply saved multistyles using the Multi Style XT palette or user-definable short cuts
- Save multistyles with your documents and/or application
- User-defined (sub)field separators
- Avoid repetitive and time consuming formatting tasks

Multi Style II XT is available now through XChange UK and ThePowerXChange.com worldwide. To order, or for more information, users can visit www.xchangeuk.com, or call on +44(0)845 259 0255 during UK business hours. Email address is info@xchangeuk.com.
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