How to turn a bad day around

Let’s face it. Life can be full of frustrations—an argument with your teenager over breakfast, a missed train, or even just a spilled coffee can make you wish you could crawl back into bed. How can you change your mood when you’ve started your day off on the wrong foot? How do you stop annoyances from dragging you down and killing your productivity?

What the Experts Say

The good news is you can turn a bad day into a good one. “Happiness is a choice,” says Shawn Achor, author of The Happiness Advantage. Even when something objectively negative happens—your star employee gives notice or you’re late to an important meeting with the CEO—it’s important to focus on the positive things that are also happening. “Studies show that when you’re positive, you’re 31% more productive, you’re 40% more likely to receive a promotion, you have 23% fewer health-related effects from stress, and your creativity rates triple,” he explains. Discontent is also contagious, adds Annie McKee, founder of the Teleos Leadership Institute and coauthor of Primal Leadership. “Your negative emotions spread like wildfire,” she says. “It’s worth changing your mood, not just to make your day more pleasant and productive but to spare those around you.” So what can you do when you’re in a downward spiral? Here are some ideas:

Pinpoint the problem

The earlier you catch your bad mood, the easier it will be to do something about it. “We have to have early warning signals that tell us that our resilience is dwindling,” says McKee. She recommends pausing regularly to check your emotional state. “Perhaps you’re being snappy with people, you’re not smiling as much, or you have a headache,” she says. It’s also important to pinpoint and name what’s going on. It’s better to say, “I’m upset because I’m behind on an important project and traffic was terrible today,” rather than the over-simplified, “I feel awful,” McKee says. Having a concrete reason for your unhappiness gives you something to work on.

Take a moment to be grateful

One of the simplest ways to focus on the positive is to think about what you’re grateful for, whether it’s your job, your kids, or the clothes on your back. “There are neuroimaging studies that show it’s almost impossible to be in a depressed state and grateful at the same time,” explains Achor. McKee agrees that gratitude is “a powerful antidote to the urgent feeling of stress and lack of control.” So as soon as you start to feel negative, short circuit your mood by asking yourself, What are three good things that are going on right now? Consider saying them out loud or writing them down. This will help you get some perspective on the bad day. Sure, you may have had a fender bender or missed an appointment, but there are other, perhaps more important, things in your life that are going well.

Take action

Another way to stop yourself from “trending negative” is to “take a single concrete action,” Achor says. Send that email that you’ve been meaning to get to or make a phone call you’ve been dreading. Even choosing a healthier snack, a piece of fruit over a candy bar, can create a positive “mental avalanche” for the rest of the day. “Your brain records a victory,” Achor explains. The effect is even stronger if the action you take benefits someone else. You might be buried in your inbox, but if you take two minutes to send an email praising or thanking someone else, you’ll actually feel like you’ve gained time.

Change your routine

If you’re feeling miserable, don’t hunker down at your desk for the rest of the day. A change of scenery often helps signal to your brain that the current mood doesn’t need to be sustained. “Drive around, take a walk, or just go to a different floor. The key is to put yourself in a different physical location,” McKee advises. And once you’re there, take a few deep breaths. “If you’re heading for or already in an amygdala hijack, you have to do something to get control of your frontal lobe and breathing does that physiologically,” she explains.

You can also do something you enjoy, like listening to music or a podcast or catching up on news. Just be careful about the content you choose! A recent study by Achor in partnership with Arianna Huffington showed that just a few minutes of consuming negative news can cause a bad day. “Try to find a news outlet that focuses on solutions. Or at least create a different ratio. If you’re going to read a negative piece, read two positive ones as well, about medical breakthroughs or someone helping others,” says Achor.

Reset realistic expectations

“Expectations can have a huge impact on mood,” says Achor. “If I expect my flight to be canceled and it’s only three hours delayed, then I’m going to be thrilled. But if I expect it to be on time and then it’s delayed, then I’m going to be upset.” A lot of bad days start when you have unrealistic expectations about what you can accomplish. If your mood is deteriorating because it’s after lunch and you feel behind, don’t despair. “You can rewrite the narrative on the day,” he says. Highlight what progress you have made. “Write down two or three things you’ve already done. You woke up, you had breakfast with your kid, you drove to work, you even wrote a checklist. That way you’re starting at 25% progress.” And then make a list of “short, attainable goals” for the rest of the day.

Learn from your bad days to prevent future ones

When you do have bad days, it’s important to reflect on them before you put them behind you. By taking note of what went wrong—and then right—you can “learn what your triggers are so you stay away from those particular stimuli or at least know how you’re likely to react if you’re triggered,” McKee says. If you’ve tried the above strategies, make a note of what works for you and what doesn’t, and “be more precise in the future in how you turn things around.” And definitely pay attention when bad days pile up. Is there something bigger going on that you need to address? Is there some broader action you need to take? “We’re seeing a movement toward higher workloads and longer work hours and there’s lots of research that shows that when people work more than 55 hours a week, engagement and happiness levels plummet,” says Achor. Consider whether you need to fundamentally rethink the way you do your job or balance your work and family life.

Principles to Remember

Do:

  • •Think of three things that you’re grateful for
  • Consider what you’ve already accomplished even if it’s minor
  • Reflect on what triggers your bad days and which tactics help to turn them around

Don’t:

  • Believe that you are a victim of your circumstances—you choose whether to be negative or positive
  • Hunker down at your desk—change scenery and take a few deep breaths
  • Set unrealistic expectations for your day

Case study #1: Focus on opportunities not problems

Kate Hanley, a mindset coach and the author of A Year of Daily Calm, often helps her clients develop strategies to get out of their bad days. “People come to me because they’re feeling stuck and they’ve tried everything they know how to try,” she says.

She usually starts by asking them what triggered their negative mood. “I try to get them to pinpoint where it started to go bad,” she says. “Naming it can be really helpful.”

Then she advises her clients to “get curious” and ask a lot of questions about what is going on. Is this a one-time event or an ongoing trend? Have I felt like this before? What caused it last time? “We’ve evolved to scan for danger so once you’re in a bad mood, it can be hard to get out,” she says.

She also tries to get people to reframe problems as opportunities. If an important client meeting gets canceled, what can you do with that free hour? If a direct report doesn’t do a good job on a presentation, how can you help her learn from the situation?

Kate uses these same tactics when she’s having her own bad days. A few weeks back, she noticed she was in an awful mood around lunchtime and quickly identified the cause: two clients had canceled on her that morning. “I don’t like when my appointments get moved a lot because it screws up the rhythm of my day,” she says.

“My mind quickly made a trend out of it but I pulled back and asked myself, ‘Do clients cancel a lot or is it just today?’” With that perspective, she was able to think more positively. She also took a few moments to get out of the office and do something she enjoys—listen to music. “If you ever see me driving around in my car listening to classical, you know it’s been a crazy day.”

Case study #2: Remember it’s just one day

Darin Freitag, who manages residential and commercial projects at the general contractor RYAN Associates says that he can usually tell early on in a day when things are going wrong. “It starts when I receive a phone call from an angry client or I realize that an important project isn’t going to be done on time,” he says. Then “I’m distracted so I’m not thinking clearly and I make more mistakes, like speeding into work and getting a ticket or even backing my car into something.”

That’s when he takes a step back. “I tell myself, ‘OK, something’s going on here. I’m just not in a place where I’m going to win today.” To get himself back into the right frame of mind, his first step is to get some perspective. “I think about how this is just one day in the long haul of a career, or a project, or the business,” he explains.

He reminds himself that it’s normal to have a rough patch here and there and that he can’t solve every problem. “Like many people, I often have this grandiose idea that I’m so important that I can fix anything. But that’s just not true. And if I try to fix it all, it’s just going to get worse,” he says.

So he temporarily resets his expectations for the day. “Sometimes I need to lower my standards and be more realistic,” he says.

He remembers one day when he had to give a presentation. Not only did he feel unprepared but there were also technical problems with the projector. But instead of getting frustrated, he took a deep breath and told himself, “OK, this is not going to go as well as I hoped or planned.”

Over time, he’s learned that, while he can’t stop bad things from happening, he can control how he responds to them. “I know I’m going to be miserable until I change my perspective, or accept the situation,” he explains. “I can wallow for a while but it’s not fun and it just leads to depression. I eventually realize that I’m swimming upstream and that I need to stop swimming and just float. And then usually it doesn’t take long for the situation to change.”

By Amy Gallo from Harvard Business Review
https://hbr.org/2015/10/how-to-turn-a-bad-day-around

How to turn a bad day around

Let’s face it. Life can be full of frustrations—an argument with your teenager over breakfast, a missed train, or even just a spilled coffee can make you wish you could crawl back into bed. How can you change your mood when you’ve started your day off on the wrong foot? How do you stop annoyances from dragging you down and killing your productivity?

What the Experts Say

The good news is you can turn a bad day into a good one. “Happiness is a choice,” says Shawn Achor, author of The Happiness Advantage. Even when something objectively negative happens—your star employee gives notice or you’re late to an important meeting with the CEO—it’s important to focus on the positive things that are also happening. “Studies show that when you’re positive, you’re 31% more productive, you’re 40% more likely to receive a promotion, you have 23% fewer health-related effects from stress, and your creativity rates triple,” he explains. Discontent is also contagious, adds Annie McKee, founder of the Teleos Leadership Institute and coauthor of Primal Leadership. “Your negative emotions spread like wildfire,” she says. “It’s worth changing your mood, not just to make your day more pleasant and productive but to spare those around you.” So what can you do when you’re in a downward spiral? Here are some ideas:

Pinpoint the problem

The earlier you catch your bad mood, the easier it will be to do something about it. “We have to have early warning signals that tell us that our resilience is dwindling,” says McKee. She recommends pausing regularly to check your emotional state. “Perhaps you’re being snappy with people, you’re not smiling as much, or you have a headache,” she says. It’s also important to pinpoint and name what’s going on. It’s better to say, “I’m upset because I’m behind on an important project and traffic was terrible today,” rather than the over-simplified, “I feel awful,” McKee says. Having a concrete reason for your unhappiness gives you something to work on.

Take a moment to be grateful

One of the simplest ways to focus on the positive is to think about what you’re grateful for, whether it’s your job, your kids, or the clothes on your back. “There are neuroimaging studies that show it’s almost impossible to be in a depressed state and grateful at the same time,” explains Achor. McKee agrees that gratitude is “a powerful antidote to the urgent feeling of stress and lack of control.” So as soon as you start to feel negative, short circuit your mood by asking yourself, What are three good things that are going on right now? Consider saying them out loud or writing them down. This will help you get some perspective on the bad day. Sure, you may have had a fender bender or missed an appointment, but there are other, perhaps more important, things in your life that are going well.

Take action

Another way to stop yourself from “trending negative” is to “take a single concrete action,” Achor says. Send that email that you’ve been meaning to get to or make a phone call you’ve been dreading. Even choosing a healthier snack, a piece of fruit over a candy bar, can create a positive “mental avalanche” for the rest of the day. “Your brain records a victory,” Achor explains. The effect is even stronger if the action you take benefits someone else. You might be buried in your inbox, but if you take two minutes to send an email praising or thanking someone else, you’ll actually feel like you’ve gained time.

Change your routine

If you’re feeling miserable, don’t hunker down at your desk for the rest of the day. A change of scenery often helps signal to your brain that the current mood doesn’t need to be sustained. “Drive around, take a walk, or just go to a different floor. The key is to put yourself in a different physical location,” McKee advises. And once you’re there, take a few deep breaths. “If you’re heading for or already in an amygdala hijack, you have to do something to get control of your frontal lobe and breathing does that physiologically,” she explains.

You can also do something you enjoy, like listening to music or a podcast or catching up on news. Just be careful about the content you choose! A recent study by Achor in partnership with Arianna Huffington showed that just a few minutes of consuming negative news can cause a bad day. “Try to find a news outlet that focuses on solutions. Or at least create a different ratio. If you’re going to read a negative piece, read two positive ones as well, about medical breakthroughs or someone helping others,” says Achor.

Reset realistic expectations

“Expectations can have a huge impact on mood,” says Achor. “If I expect my flight to be canceled and it’s only three hours delayed, then I’m going to be thrilled. But if I expect it to be on time and then it’s delayed, then I’m going to be upset.” A lot of bad days start when you have unrealistic expectations about what you can accomplish. If your mood is deteriorating because it’s after lunch and you feel behind, don’t despair. “You can rewrite the narrative on the day,” he says. Highlight what progress you have made. “Write down two or three things you’ve already done. You woke up, you had breakfast with your kid, you drove to work, you even wrote a checklist. That way you’re starting at 25% progress.” And then make a list of “short, attainable goals” for the rest of the day.

Learn from your bad days to prevent future ones

When you do have bad days, it’s important to reflect on them before you put them behind you. By taking note of what went wrong—and then right—you can “learn what your triggers are so you stay away from those particular stimuli or at least know how you’re likely to react if you’re triggered,” McKee says. If you’ve tried the above strategies, make a note of what works for you and what doesn’t, and “be more precise in the future in how you turn things around.” And definitely pay attention when bad days pile up. Is there something bigger going on that you need to address? Is there some broader action you need to take? “We’re seeing a movement toward higher workloads and longer work hours and there’s lots of research that shows that when people work more than 55 hours a week, engagement and happiness levels plummet,” says Achor. Consider whether you need to fundamentally rethink the way you do your job or balance your work and family life.

Principles to Remember

Do:

  • Think of three things that you’re grateful for
  • Consider what you’ve already accomplished even if it’s minor
  • Reflect on what triggers your bad days and which tactics help to turn them around

Don’t:

  • Believe that you are a victim of your circumstances—you choose whether to be negative or positive
  • Hunker down at your desk—change scenery and take a few deep breaths
  • Set unrealistic expectations for your day

Case study #1: Focus on opportunities not problems

Kate Hanley, a mindset coach and the author of A Year of Daily Calm, often helps her clients develop strategies to get out of their bad days. “People come to me because they’re feeling stuck and they’ve tried everything they know how to try,” she says.

She usually starts by asking them what triggered their negative mood. “I try to get them to pinpoint where it started to go bad,” she says. “Naming it can be really helpful.”

Then she advises her clients to “get curious” and ask a lot of questions about what is going on. Is this a one-time event or an ongoing trend? Have I felt like this before? What caused it last time? “We’ve evolved to scan for danger so once you’re in a bad mood, it can be hard to get out,” she says.

She also tries to get people to reframe problems as opportunities. If an important client meeting gets canceled, what can you do with that free hour? If a direct report doesn’t do a good job on a presentation, how can you help her learn from the situation?

Kate uses these same tactics when she’s having her own bad days. A few weeks back, she noticed she was in an awful mood around lunchtime and quickly identified the cause: two clients had canceled on her that morning. “I don’t like when my appointments get moved a lot because it screws up the rhythm of my day,” she says.

“My mind quickly made a trend out of it but I pulled back and asked myself, ‘Do clients cancel a lot or is it just today?’” With that perspective, she was able to think more positively. She also took a few moments to get out of the office and do something she enjoys—listen to music. “If you ever see me driving around in my car listening to classical, you know it’s been a crazy day.”

Case study #2: Remember it’s just one day

Darin Freitag, who manages residential and commercial projects at the general contractor RYAN Associates says that he can usually tell early on in a day when things are going wrong. “It starts when I receive a phone call from an angry client or I realize that an important project isn’t going to be done on time,” he says. Then “I’m distracted so I’m not thinking clearly and I make more mistakes, like speeding into work and getting a ticket or even backing my car into something.”

That’s when he takes a step back. “I tell myself, ‘OK, something’s going on here. I’m just not in a place where I’m going to win today.” To get himself back into the right frame of mind, his first step is to get some perspective. “I think about how this is just one day in the long haul of a career, or a project, or the business,” he explains.

He reminds himself that it’s normal to have a rough patch here and there and that he can’t solve every problem. “Like many people, I often have this grandiose idea that I’m so important that I can fix anything. But that’s just not true. And if I try to fix it all, it’s just going to get worse,” he says. So he temporarily resets his expectations for the day. “Sometimes I need to lower my standards and be more realistic,” he says.

He remembers one day when he had to give a presentation. Not only did he feel unprepared but there were also technical problems with the projector. But instead of getting frustrated, he took a deep breath and told himself, “OK, this is not going to go as well as I hoped or planned.”

Over time, he’s learned that, while he can’t stop bad things from happening, he can control how he responds to them. “I know I’m going to be miserable until I change my perspective, or accept the situation,” he explains. “I can wallow for a while but it’s not fun and it just leads to depression. I eventually realize that I’m swimming upstream and that I need to stop swimming and just float. And then usually it doesn’t take long for the situation to change.”

By Amy Gallo from Harvard Business Review
https://hbr.org/2015/10/how-to-turn-a-bad-day-around

Who made the list of 50 best places to work in Australia in 2020?

The 50 Best Places to Work Australia list has been released, which includes companies such as Canva and Salesforce.

The list was chosen by global workplace research and consulting firm, Great Place to Work. It was done between September 2019 and June 2020 – including when COVID hit – and took into account more than 39,000 Aussie based workers across 124 companies.

Each company in the study for the best places to work list earns a score based on two main factors. The majority (two-thirds) is based on employee responses to a survey, while the remaining one-third comes from Great Place to Work’s evaluation of company procedures and policies.

The list looked at companies with over 1000 workers, between 100-999 workers and under 100 workers.

“Through the 2020 Best Places to Work study process, we have had the opportunity to observe how businesses inspire, invent, and innovate as they introduced new initiatives whilst navigating through this changing landscape,” the report said.

“The 2020 Best Places to Work sprang into action early on by leading and demonstrating care for their employees by being supportive, communicative, and flexible through this time of uncertainty with clarity and confidence.”

Here are 20 companies that made it onto the list and what they did during the coronavirus pandemic:

Over 1,000 workers:

Cisco Systems Australia

During the pandemic, the company unveiled a ‘Your Response to COVID-19’ campaign asking employees to suggest ways they could take action to help their teams, customers and community.

Salesforce

The company launched a B-Well Together half-hour series with tips and resources from wellbeing experts that employees and their families could use. It became so popular, Salesforce decided to make it available to customers and communities as well.

SAP Australia

SAP released a remote ‘pulse check’ for employees to share how they were feeling and what management could do to support them. The company also launched health and wellbeing resources such as mindfulness sessions and virtual yoga.

Mars Australia

The consumer goods company launched a ‘Be Well’ program to help workers become emotionally resilient, mentally focused and physically energised.

DHL Express

Transport and logistics company DHL held virtual team building events and even sent out care packs to those working from home.

Between 100 and 999 workers:

Interactive

IT services provider Interactive implemented new ways to connect with workers during the pandemic, by using social channels and collaboration tools.

AbbVie

Biotechnology company AbbVie reviewed its internal communication plan during COVID and launched a daily bulletin that kept workers informed about any updates.

Canva

Design giant Canva created a ‘Keeping the Vibe Alive’ website with resources that helped reinforce staff camaraderie while they work remotely. The company also launched more Slack channels with work-from-home tips and tricks and how-tos.

SafetyCulture

During the pandemic, SafetyCulture launched measures to keep workers mentally and physically healthy such as access to online fitness videos and launching a mental fitness app.

BPAY Group

Amid the pandemic, BPAY’s CEO Blog rolled out weekly instead of fortnightly to keep workers updated on the business, how he is feeling personally and share his thoughts on a range of topics. It’s also a way for workers to connect and speak with him.

Insight

IT company Insight worked with its employees during the pandemic to make sure they had the right tools and systems when working from home. It also provided workers with chairs and monitors where needed.

OMD Australia

Media and Communications agency OMD created a weekly newsletter during COVID which was about promoting health and wellbeing while in isolation.

Nintex

Software business Nintex rolled out a range of initiatives during the pandemic, including a COVID Committee, company updates though Slack, virtual meetings and a webpage with local information about the coronavirus.

Mantel Group

Mantel introduced a weekly Q&A live forum where they discussed business updates, health and safety and accepted questions from employees.

Stryker

During the pandemic, medical technology company Stryker rolled out a redeployment plan which included internal and external secondments (temporarily transferring a worker to another position) and developing a ‘Stryk-tasker’ role for one-off projects.

Intuit Australia

When the pandemic struck, Intuit decided to close its Sydney office and allow remote work. Information about working from home was put up on an internal microsite to guide employees.

Kronos

Kronos rolled out a ‘Working Virtually’ microsite to support staff as they work through the pandemic.

Adobe

During the pandemic, Adobe offered a flexible schedule to workers. It also released a “Time Off” benefit, which provides up to 20 working days off for the rest of the year for employees who can’t work because of a COVID-related issue.

Envato

During the pandemic, Envato provided two weeks extra paid leave for workers who were unwell or caring for an immediate member of the family.

Service Now

The company developed a virtual ‘global village’ to help parents with home-schooling. This included virtual story reading sessions and access to high school maths tutorials.

Starlight Children’s Foundation

The organisation created a program where workers could donate their annual leave toward a ‘hardship fund’. The fund would in turn be used by Starlight to pay casual workers who had reduced or no shifts.

Other companies that made it onto the list include digital bank UBank, comparison site Finder, eBay Australia and the Green Building Council of Australia.

Top Tips on different tactics business leaders employ to get stuff done effectively

Amantha Imber, founder of innovation consultancy company Inventium, told Business Insider Australia she began the podcast “How I Work”, after hearing her clients say they don’t have enough time to focus on innovation.

“I was looking around at people that I thought were really successful and great innovators,” she said, “And I thought, well, they’ve got the same number of hours in the day – so what are they doing differently?” With plenty of interviews under her belt, Imber shared some of the biggest tips she learned:

“Batching” meetings for better productivity

Imber’s first interview was with Wharton psychology professor and New York Times bestselling author Adam Grant. There were two main tips which stuck out to her from that interview.

The first was that Grant “batches” all his meetings, meaning he does them back to back. It came from research from Ohio State University which found that productivity decreases by 22% if you know you have an upcoming meeting.

Another tip Imber picked up was that when Grant finishes work for the day, he will finish half-way through a certain task. “That way, when he starts the next day, it’s super easy for him to pick back up because he’s already halfway through it,” she explained.

Using clothes as a communication tool

When Imber interviewed former Pinterest president Tim Kendall, she said he talked about using clothes as a communication channel.

“When he was at Pinterest, one of the focus areas strategically was about just focusing … on doing a small amount of things really well,” she said. And so Kendall had several different t-shirts that said ‘focus’ which he would wear.

“He literally wore that all year,” Imber said.

Changing your password when you’re on holiday

Brian Scudamore, founder and CEO of junk removal company 1800 Got Junk, told Imber he would get his assistant to change the passwords to his email and social media accounts when he goes on holidays. In doing so, he ensured he isn’t “lured” to answer them.

Small changes create big differences

Matt Mullenweg, co-founder of WordPress, discussed how small hacks or changes can help you develop good behaviours. He described to Imber a little hack that would encourage him to read, right on his bedside table. “He finds if he puts the Kindle on top of the phone, he’ll be more likely to read it,” Imber said.

Read your work out loud

Author Daniel Pink explained how he reads his work out loud during the editing process to see if the sentences flow. “He will…read or have someone read his books – the whole book, end to end – out loud,” she said.

A podcast that can “improve people’s lives for the better” Imber explained that from every interview, there would be at least one thing she would try out when it comes how to she works. She also said she gets people writing to her saying it has changed the way they approach work too.

“I just want my podcast to continue to have that impact and improve people’s lives for the better,” she said. “For me, that makes it an intensely rewarding project.”

And her dream interviewee? Playwright, composer and actor Lin Manuel Miranda.

Do I need cyber insurance for my business?

When it comes to cyber insurance, many people in small and medium sized businesses assume that the risks involved with cyber security don’t affect them, or that they are already protected. They say things like “We don’t take credit card payments so we’re not at risk”. Or, “We have anti-virus protection and the website is secure”. But when they learn about the different risks and areas they could be liable for, such as being responsible for client data, and data privacy laws, many are surprised.

Before you bury your head in the sand, consider one common cyber security incident:

What would you do if you had a security breach and had to tell your customers you’ve lost their data?

Data security breaches are a more common occurrence than you may expect, especially for SMEs. The Notifiable Data Breach Scheme managed by the Office of the Australian Information Commissioner actually imposes certain threshold requirements where businesses are obligated to notify clients about the breach, and notify the Privacy Commissioner. Not only would this affect the company reputation, but also take up valuable time and resources to fix.

The Notifiable Data Breach Scheme applies to agencies and organisations that the Privacy Act requires to take steps to secure certain categories of personal information. This includes Australian Government agencies, businesses and not-for-profit organisations with an annual turnover of $3 million or more, and regardless of your annual turnover applies to credit reporting bodies, health service providers, and TFN recipients, among others.

So, it’s more than worth taking a few minutes to learn about common cyber misconceptions, how your business could be affected, what the potential costs might be, and what the options are if you need insurance cover.

How could cyber threats affect my businesses?

There are some scary statistics when it comes to the cost of cyber risks:

• $10,299 – the average cost of cyber crime for small to medium-sized businesses (according to Norton SMB Cyber Security Survey 2017)

• $1.9 million – the average cost for medium sized businesses (100-500 employees) if hit by a cyber attack (according to Webroot, 2017) with the figure over $1million for larger organisations (Radware 2018-2019 Global Application and Network Security Report)

• 25 hours downtime or more – was the number of hours it costs for one in four businesses hit by cyber attacks (according to Small Business Best Practice Guide 2017)

• Downtime is the main impact of a cyber security threat (39%), followed by expense for re-doing work (25%), inconvenience (27%), financial loss (11%) and data loss (13%). Of those that had lost data, over half (52%) had not been able to recover it.

• 54% of cyber attacks are from email or phishing scams (according to Norton SMB Cyber Security Survey 2017)

• Up to $2,100,000 fine from the OAIC for not complying with mandatory data breach laws for a company and up to $420,000 for an individual. (Office of the Australian Information Commissioner (OAIC) Notifiable Data Breaches (NDB) scheme, February 2018)

• 59% of Australian organisations are affected each month by interruptions caused by cyber crime (according to Commonwealth’s Stay Smart Online guide for small business)

• 2,500% increase in the sale of ransomware on dark net sites since 2016 (according to The Ransomware Economy, Carbon Black 2017)

When people see these stats, they see that the relatively low cost of cyber insurance is dwarfed by the volume and range of potential costs that it covers for.

4 main reasons why SMEs are easy targets for Cyber Attacks

Attacks on small and medium-sized enterprises are on the rise due to:

1. Lack of resources 1 in 4 Australian small businesses have fallen victim to cyber crime (according to Norton SMB Cyber Security Survey 2017) as SME clients are focused on their core business offering – be it as a Real Estate Agent, Lawyer, Accountant, Doctor, Mechanic, Manufacturer or whatever industry they specialise in. SMEs often lack the time, resources or expertise to understand their cyber exposures.

2. Lack of education on Cyber Large organisations provide training to their employees on the importance of cyber security and the key risks to be aware of. Simple human mistakes like lost smart-phones or accidentally sending an email to the wrong person, are the cause of 30% of cyber incidents (according to the Office of the Australian Information Commissioner Quarterly Report December 2018.)

3. Weak network security or IT infrastructure SMEs typically handle their own IT systems and security themselves, or outsource to someone as they lack the expertise. This contracts with more robust IT teams and operations in larger organisations.

4. Businesses hold valuable data There is a common misconception that SMEs won’t be a target of cyber threats as they have no data or information that is of value or worth stealing. SME data is more valuable that people think. Even if the SME isn’t the direct target, the SME might be a critical point into the integrated supply chain of their valued partners.

Costs associated with cyber attacks for businesses

The costs a business may incur due to cyber security breaches come under three main categories:

1. First Party Costs The businesses’ own cost to respond to the breach, including but not limited to IT Forensic Costs, Credit Monitoring Costs, Cyber Extortion Costs, Data Restoration Costs, Legal Reorientation Expenses, Notification Costs and Public Relations Costs.

2. Third Party Claims The businesses’ liability to third parties arising from a failure to keep data secure, including data held on behalf of businesses by either an outsourced supplier or freelancer, or cloud service provider for which businesses are legally liable. Insurance Coverage is available for claims for compensation by third parties, investigations, defence costs and fines & penalties for breaching the Privacy Act.

3. Business Interruption Reimbursement for businesses’ lost profits resulting from a Business Interruption Event. In a lot of cases policies provide coverage these days not only limited to malicious attacks. Coverage can be made available for Business Interruption Loss arising from unauthorised access, any damage to the business data and/or programs, and any system outage, network interruption or degradation of the businesses’ network.

Laws & regulations governing Cyber & Privacy Risks

There are many laws and obligations which businesses must adhere to in relation to cyber security:

• Privacy Act 1988

• The Information Privacy Act 2014 (ACT)

• Telecommunications Act 1997 and the Telecommunications (Interception and Access) Act 1979

• National Health Act 1953 (NH Act)

• Data-matching Program (Assistance and Tax) Act 1990

• Crime Act 1914 (Crime Act)

• Anti-Money Laundering and Counter- Terrorism Financing Act 2006(AML/CTF Act)

• Healthcare Identifiers Act 2010 (HI Act)

• Personally Controlled Electronic Health Records Act 2012 (PCEHR Act)

• Personal Property Security Act 2009 (PPS Act)

Security is simply managing risk

There are various ways businesses can manage cyber security risk:

• Reducing the risk businesses should seek to put in place procedural, technical and physical controls in order to reduce their exposures.

• Accepting the risk an internal process a business has taken to evaluate the risk versus reward

• Transferring the risk insurance should be seen as an additional layer to the security process, not an alternative

• Avoid the risk When the likelihood and impact from the risk to the business is too high businesses can remove the risk source, for example by deleting old data, deciding not to start or discontinue the activity.

What does Cyber Insurance cover?

Cyber Insurance covers a business for the cyber exposures it faces from both third party claims (for example actions brought by the Privacy Commissioner or clients suing for breach of privacy) and first party cover including Business Interruption and other expenses that might incur as a result of a cyber attack. The first party expenses a business might incur include, but are not limited to, costs to repair or restore systems, credit monitoring services if data has been breached and public relations expenses.

What can I do now to avoid cyber and data privacy risks?

In addition to considering insurance coverage, there is still lots you can do to mitigate potential risks for your business.

Nine Steps to tighten your Cyber Security

1. Network Security Protect your networks against external and internal attack. Manage the network perimeter. Filter out unauthorised access and malicious content. Monitor and test security controls.

2. Malware Protection Produce a relevant policy and establish anti-malware defences that are applicable and relevant to all business areas. Scan for malware across the business.

3. Monitoring Establish a monitoring strategy and produce supporting policies. Continuously monitor all systems and networks. Analyse comprehensively for
unusual activity that could indicate an attack

4. User Education and Awareness Produce user security policies covering acceptable and secure use of the business’s systems. Establish a staff training programme.
Maintain user awareness of cyber risks.

5. Home and Mobile Working Develop a mobile working policy and train staff to adhere  to it. Apply the secure baseline build to all devices. Protect data both in transit and at locations.

6. Secure Configuration Apply security patches and ensure that the secure configuration of all systems is maintained. Create a system inventory and define a baseline build for all devices.

7. Removable Media Controls Produce a policy to control all access to removable media. Limit media types and use. Scan all media for malware before importing on the company system.

8. Managing User Privileges Establish account management processes and limit the number of privileged accounts. Limit user privileges and monitor user activity. Control access to activity and audit logs.

9. Incident Management Establish an incident response and disaster recovery capability. Produce and test incident management plans. Provide specialist training to the incident management team. Report criminal incidents to law enforcement.

Want to learn more or have a question?

Polina Kesov is a specialist in cyber insurance and Director at ii-A www.ii-A.com.au. To find out more about the risks involved in cyber security and what your insurance options are, get in touch for a free consultation with Polina.

The Benefits of Recognising Your Team Success & The 3 Rules of Celebration

Have you, as a team, raised a glass to last month’s successful efforts? Don’t forget to celebrate you and your team’s success for the sake of improvement in team spirit and performance. There are several reasons why you should be recognizing team success if you aren’t doing so already. But first things first, what is success? Have you, as a team, raised a glass to last month’s successful efforts? Don’t forget to celebrate you and your team’s success for the sake of improvement in team spirit and performance. There are several reasons why you should be recognizing team success if you aren’t doing so already. But first things first, what is success?

How do you define success for you and your team? Is success making $50,000 in revenue in the previous month? Or is it a 60% year-on-year growth in terms of sales? Or is it winning an industry award? These benchmarks could be identifiers of success, however, success does not always have to be something that involves money or a long-term effort.

You should celebrate success whenever you achieve a goal. Short term objectives count. Personal efforts also count when the achievement contributes to the team’s common goals. Basically, everything that gets done and contributes to the mission of the team, is a team success.

For example, one of your customer support staffers goes an extra mile to satisfy a client. The client leaves a positive feedback regarding her service. You should definitely acknowledge her efforts and at the same time, you should encourage her to share her story with the rest of the team. Success sharing and celebration are both important. Both are extremely beneficial for team performance and should not be taken lightly.

Why should teammates share success stories?

Success stories can be very helpful. They are the practical tips others can adapt in order to solve similar problems. For example, a member of your customer support team gains an exceptionally high level of customer satisfaction because she works out an ideal flow to deal with inquiries and follow up with customers. Others can learn from such a workflow. Encourage her to share the best practices to benefit the whole team’s performance.

Besides, success stories are a great source of inspiration for others to excel. Think about why you read biographies of successful people in various fields from politics to arts. Not all the tips you come across are applicable to your personal and professional life, however, you are inspired by their strong will to excel at what they do and their passion to make a difference. Such aspiration is likely to affect you more if it comes from people you know and whose work you value.

Sharing stories helps strengthen your team as they become more and more familiar with one another. For example, your manager knows which skills your sales agent excels at and what inspires her. She will find out the best way to work with her in the future. As an owner/manager, you will also find it much nicer to supervise a close-knit team.

Why should everyone recognize everyone else’s success?

Recognizing success is very powerful. Peer recognition brings fulfilment because it reinforces the meaning of one’s hard work. When you show your respect to one’s achievement, you are likely to boost his or her self-esteem, which is the second highest need of a person according to Maslow’s hierarchy.

Moreover, a manager can motivate an employee a great deal by showing gratitude and appreciation towards his or her accomplishments. This motivation will make it more likely for the employee to work harder and be inspired to contribute more and more to the team. Mutual respect creates a stronger relationship between team members and increases the level of loyalty.Recognizing both individual and team achievement helps build a sense of solidarity and identity for the whole team.

How to share and celebrate success

The story

Sharing success is like telling a story. You want to tell a good story that has an impact. You want to help and inspire people to achieve their own goals. Here are some tips for a good story.

Focus on useful content 

You want your audience to take home practical tips. Think of the exact step-by-step process that you have taken to achieve a goal. Share these steps as a tool to solve a similar problem.

Be inspirational and authentic.

You want to inspire your audience to gain something for themselves. Think back to the obstacles, especially mental blocks, and how you overcame them. A story that talks to one’s feelings tends to have a stronger impact in the process of being remembered.

The celebration

As manager, you should take time to celebrate employee achievement. Show them that you do not take their hard work for granted. Besides, it is helpful to create an environment where teammates can easily recognize and celebrate each other’s success. Here are some tips for you, as manager, to make a positive impact with recognizing employee achievement.

Do it soon  

One rule for recognition is the earlier, the better. As a manager, you should always know what is going on in your team. If your employees do something great, you should be the first to notice and congratulate them. Give them a handshake or high five as soon as you can. An official congratulations or a bonus can come later, but there is no reason why you should wait to say thanks to an employee for his or her hard work.

Make it public

A public recognition is much more impactful than a private one. You don’t have to put up a stage with flowers and stereo sound system every time, but a compliment in public is far better at boosting one’s esteem than one sent via an email or even 1-on-1. A celebration only feels like a real one with a crowd. That is why we gather for fireworks to celebrate a new year or a national holiday. As manager, you could hold weekly meetings (e.g.15 minutes of heroism) to make success acknowledgement official and public.

Add a bonus or a token gift 

A high-five or a handwritten thank-you note is great but more is in order in many cases. Rewards and hard work often go together. Depending on the level of achievement, a certain form of reward is due.

Rewarding your employees is important, but you should learn to do it appropriately and perhaps in a creative and authentic way.

Rewards can come in all shapes and sizes, and can involve cash or non-monetary rewards. Traditional rewards often include a monetary bonus or a pay raise. Inarguably, most would be happy and motivated with a bigger pay check, however, there are rewards that can be just as effective that will cost the company far less. To name a few ideas:

• A day-off pass to use for extra time off or flexible hours
• A nice, long lunch to celebrate the achievement together
• A voucher from a fine restaurant in town
• A massage gift card
• A one year Spotify subscription

Do you have some good ideas? The key is to link a reward to the employee and his or her accomplishment. For example, a junior salesperson reaches a milestone of the first $10,000. A pen holder made out of the number 10,000 to be put on his desk would be a nice gift because it will remind him of his achievement every day. Go an extra mile to find out what your employees like, what their hobbies are, and what they are passionate about. For example, if an employee likes reading, a book signed by his or her favourite author could make a great gift. Personalizing rewards shows that you not only care, but will go the extra mile to make sure your employees feel recognized.

In brief

Building a great team is a challenging job. You should take pride in your team’s success by taking the time and effort to celebrate it. Whenever you achieve a goal, acknowledge your appreciation in a timely and public manner. In addition, don’t forget to give a reward or a token gift. Recognize employee achievement and you will reap the rewards from their motivation and loyalty.

 

Source https://blog.impraise.com/360-feedback/the-benefits-of-recognizing-your-team-success-and-the-3-rules-of-celebration-360-review

The Golden Rules of Goalsetting

Five Rules to Set Yourself Up for Success

Have you thought about what you want to be doing in five years’ time? Are you clear about what your main objective at work is at the moment? Do you know what you want to have achieved by the end of today?

If you want to succeed, you need to set goals. Without goals you lack focus and direction. Goal setting not only allows you to take control of your life’s direction; it also provides you a benchmark for determining whether you are actually succeeding. Think about it: having a million dollars in the bank is only proof of success if one of your goals is to amass riches. If your goal is to practice acts of charity, then keeping the money for yourself is suddenly contrary to how you would define success.

To accomplish your goals, however, you need to know how to set them. You can’t simply say, “I want” and expect it to happen. Goal setting is a process that starts with careful consideration of what you want to achieve, and ends with a lot of hard work to actually do it. In between, there are some very well-defined steps that transcend the specifics of each goal. Knowing these steps will allow you to formulate goals that you can accomplish.

Learn five techniques for setting effective goals.

The Five Golden Rules

1. Set Goals That Motivate You

When you set goals for yourself, it is important that they motivate you: this means making sure that they are important to you, and that there is value in achieving them. If you have little interest in the outcome, or they are irrelevant given the larger picture, then the chances of you putting in the work to make them happen are slim. Motivation is key to achieving goals. Set goals that relate to the high priorities in your life. Without this type of focus, you can end up with far too many goals, leaving you too little time to devote to each one. Goal achievement requires commitment, so to maximize the likelihood of success, you need to feel a sense of urgency and have an “I must do this” attitude. When you don’t have this, you risk putting off what you need to do to make the goal a reality. This in turn leaves you feeling disappointed and frustrated with yourself, both of which are de-motivating. And you can end up in a very destructive “I can’t do anything or be successful at anything” frame of mind.

Tip: To make sure that your goal is motivating, write down why it’s valuable and important to you. Ask yourself, “If I were to share my goal with others, what would I tell them to convince them it was a worthwhile goal?” You can use this motivating value statement to help you if you start to doubt yourself or lose confidence in your ability to actually make the goal happen.

2. Set SMART Goals

You have probably heard of SMART goals already. But do you always apply the rule? The simple fact is that for goals to be powerful, they should be designed to be SMART. There are many variations of what SMART stands for, but the essence is this – goals should be: Specific. Measurable. Attainable. Relevant. Time Bound.

Set Specific Goals

Your goal must be clear and well defined. Vague or generalized goals are unhelpful because they don’t provide sufficient direction. Remember, you need goals to show you the way. Make it as easy as you can to get where you want to go by defining precisely where you want to end up.

Set Measurable Goals

Include precise amounts, dates, and so on in your goals so you can measure your degree of success. If your goal is simply defined as “To reduce expenses” how will you know when you have been successful? In one month’s time if you have a 1 percent reduction or in two years’ time when you have a 10 percent reduction? Without a way to measure your success you miss out on the celebration that comes with knowing you have actually achieved something.

Set Attainable Goals

Make sure that it’s possible to achieve the goals you set. If you set a goal that you have no hope of achieving, you will only demoralize yourself and erode your confidence. However, resist the urge to set goals that are too easy. Accomplishing a goal that you didn’t have to work hard for can be anticlimactic at best, and can also make you fear setting future goals that carry a risk of non-achievement. By setting realistic yet challenging goals, you hit the balance you need. These are the types of goals that require you to “raise the bar” and they bring the greatest personal satisfaction.

Set Relevant Goals

Goals should be relevant to the direction you want your life and career to take. By keeping goals aligned with this, you’ll develop the focus you need to get ahead and do what you want. Set widely scattered and inconsistent goals, and you’ll fritter your time – and your life – away.

Set Time-Bound Goals

Your goals must have a deadline. Again, this means that you know when you can celebrate success. When you are working on a deadline, your sense of urgency increases and achievement will come that much quicker.

3. Set Goals in Writing

The physical act of writing down a goal makes it real and tangible. You have no excuse for forgetting about it. As you write, use the word “will” instead of “would like to” or “might.” For example, “I will reduce my operating expenses by 10 percent this year,” not “I would like to reduce my operating expenses by 10 percent this year.” The first goal statement has power and you can “see” yourself reducing expenses, the second lacks passion and gives you an excuse if you get sidetracked.

Tip 1: Frame your goal statement positively. If you want to improve your retention rates say, “I will hold on to all existing employees for the next quarter” rather than “I will reduce employee turnover.” The first one is motivating; the second one still has a get-out clause “allowing” you to succeed even if some employees leave.

Tip 2: If you use a To-Do List , make yourself a To-Do List template that has your goals at the top of it. If you use an Action Program , then your goals should be at the top of your Project Catalog.

Post your goals in visible places to remind yourself every day of what it is you intend to do. Put them on your walls, desk, computer monitor, bathroom mirror or refrigerator as a constant reminder.

4. Make an Action Plan

This step is often missed in the process of goal setting. You get so focused on the outcome that you forget to plan all of the steps that are needed along the way. By writing out the individual steps, and then crossing each one off as you complete it, you’ll realize that you are making progress towards your ultimate goal. This is especially important if your goal is big and demanding, or long-term. Read our article on Action Plans for more on how to do this.

5. Stick With It!

Remember, goal setting is an ongoing activity, not just a means to an end. Build in reminders to keep yourself on track, and make regular time-slots available to review your goals. Your end destination may remain quite similar over the long term, but the action plan you set for yourself along the way can change significantly. Make sure the relevance, value, and necessity remain high.

Key Points

Goal setting is much more than simply saying you want something to happen. Unless you clearly define exactly what you want and understand why you want it the first place, your odds of success are considerably reduced. By following the Five Golden Rules of Goal Setting you can set goals with confidence and enjoy the satisfaction that comes along with knowing you achieved what you set out to do. So, what will you decide to accomplish today?

Source https://www.mindtools.com/pages/article/newHTE_90.htm

6 Things Great Innovators Do Differently

Take a look at any successful enterprise and you’ll find innovation at its core. That was just as true a hundred years ago when Henry Ford perfected the assembly line as it is today, when modern day giants like Elon Musk bring cutting edge technology to market. Innovation, as I’ve written before, is how people come up with novel solutions to important problems.

Take a look at any successful enterprise and you’ll find innovation at its core. That was just as true a hundred years ago when Henry Ford perfected the assembly line as it is today when modern day giants like Elon Musk bring cutting edge technology to market. Innovation, as I’ve written before, is how people come up with novel solutions to important problems.

The tricky part is that every organization faces different types of challenges. Some, like Intel, focus on improving old technologies, while others, like MD Anderson Cancer Center, strive to make fundamental new discoveries. There are also those that innovate business models, marketing campaigns and many other things.

That’s why there is no “one true path” to innovation. There are, in fact, as many ways to innovate as there are types of problems to solve. However, in researching my upcoming book, Mapping Innovation, I noticed that there were universal traits across every organization I looked at. From corporate giants to startups to world-class labs, here are the 6 things they had in common.

1. Seek Out Problems

Most people think that innovation starts out with a great idea, but the truth is that it starts with a great problem. Whether it’s Steve Jobs looking for product categories that “suck,” or scientists exploring the fundamental nature of the universe, every innovation starts out as a tough problem that needs to solved.

One thing I noticed about the innovators I researched is that they didn’t just wait for good problems, but they actively went searching for them. Jim Allison, who developed cancer immunotherapy, told me he just liked “figuring things out,” while Charlie Bennett’s interest in finding computation in the natural world helped lead to quantum computing.

I found the same thing when I looked at organizations that are able to innovate consistently. IBM Research has, throughout its history, set up “grand challenges” and searched for unresolved problems in the marketplace. Experian has set up a special unit, called DataLabs, to seek out and solve its customers’ problems. Google’s long-held practice of “20% time” is essentially a human-powered search engine for problems.

So hiring smart people and encouraging creativity are not enough. if you want to make your organization more innovative, the best thing you can do is to think seriously about how you search for problems.

2. Choose Problems That Suit Your Capabilities, Strategy And Culture

After World War II, groups of natives in the South Pacific called cargo cults, built makeshift airstrips complete with antennas protruding out of coconut helmets, improvised headphones and guys waving sticks to signal airplanes in the hopes that valuable cargo would drop from the sky. They had seen soldiers employ similar tactics and were following suit.

Of course, it never worked. Indeed, it seems more than a little bit silly. Simply setting up an airstrip is not what causes cargo planes to fly across the world to a particular location. Anyone who would believe such a thing is missing some very basic principles of how air travel functions. It is patently absurd. Yet modern managers find it completely sensible to try to learn the one thing that can make you innovate like Steve Jobs or the 5 habits that made Elon Musk an innovator. Much like cargo cults, they believe that simply emulating the same tactics will yield the same results, regardless of context. Perhaps not surprisingly, they don’t fare much better than the islanders.

The truth is that your innovation strategies need to suit your capabilities, strategy and culture. Just because something worked for someone else doesn’t mean it will work in your organization. You need to build your own innovation playbook.

3. Identify The Innovation Strategies Most Likely To Solve The Problems You Face

Too often, we treat innovation as a monolith, as if every problem was the same, but that’s clearly not the case. In laboratories and factory floors, universities and coffee shops, or even over a beer after work, people are sussing out better ways to do things. There is no monopoly on creative thought. But that leads us to a problem: How should we go about innovation? Should we hand it over to the guys with white lab coats? An external partner? A specialist in the field? Crowdsource it? What we need is a clear framework for making decisions.

As I wrote in Harvard Business Review, the best way to start is by asking the right questions:
(1) How well is the problem defined? and
(2) How well is the domain defined? Once you’ve asked those framing questions, you can start defining a sensible way to approach the problem using the Innovation Matrix.

Show me any successful innovator and I can show you another that is just as successful and does things very differently. The key to innovating effectively is not the objective merits of any particular strategy, but whether that strategy addresses the problem you are trying to solve.

4. Leverage Platforms To Access Ecosystems Of Talent, Technology and Information

Traditionally, strategy was largely seen as a game of chess in which managers sought to optimize their value chain, maximize bargaining power with buyers and suppliers and minimize threats from new market entrants and substitute goods. Yet today, the nature of power has changed and advantage is not determined by what assets you control, but what you can access. That’s why today, firms must leverage platforms to access ecosystems of talent, technology and information. Even the internal capabilities of the largest corporate giants pale in comparison to those which can be found outside the boundaries of an organization. As Bill Joy, put it, “no matter who you are, most of the smartest people work for someone else.”To understand how this is playing out, consider the case of Microsoft and Linux. Back in 2001, CEO Steve Ballmer saw Linux and other open source technologies as a serious threat to its business and went so far as to call Linux a cancer. Yet today, Microsoft not only actively participates in open source communities, it’s even learned to love Linux. Why the change of heart? It realized, as have many other tech giants, that while it’s difficult to compete with an ecosystem of tens of thousands of developers, you can make a great business by accessing their talents and building on top of their work.

5. Build A Collaborative Culture

Many thought that the digital age would lead to a more solitary existence. With so much you can access through your computer screen, why would you need to go to an office? In fact, just the opposite has happened. While remote work has become a reality, it’s much harder to go it alone than it used to be. In fact, collaboration has become a competitive advantage. To understand why, let’s look at scientists, who probably have the greatest potential to work alone. Yet they are increasingly choosing to work in teams and those teams vastly outperform solo performers. The journal Nature recently noted that the average scientific paper today has four times as many authors as one did in 1950.

Collaboration was also something I repeatedly came across in my research for the book. Not only was the point continually stressed by almost everybody I talked to, I also noticed that in response to my fact checks my sources invariably pushed me to give more credit to others and less to themselves. As MIT’s Sandy Pentland has put it, “We teach people that everything that matters happens between your ears, when in fact it actually happens between people.”

6. Understand That Innovation Is A Messy Business

When we think of innovation, we often conjure up visions of Steve Jobs wowing the crowds at Macworld, but the truth is that innovation is a messy business. Part of the problem is that we mostly see successes, while failures often go unnoticed or are swept under the carpet. We get taken in by myths and gloss over the realities. Consider the case of Alexander Fleming. Many know the story of how he “accidentally” discovered penicillin one day when a mould contaminated a petri dish in his lab. But few realize that his work lay dormant for over a decade until another team of scientists saw its potential and put in the years of work needed to engineer it into a miracle cure. That’s why so few organizations can innovate well.  It is such hard, heartbreaking work. It doesn’t lend itself to shortcuts or “silver bullet” solutions. Truly breakthrough innovations are never a single event, nor are they achieved by one person, or even within a single organization. Rather, they happen when ideas combine to solve important problems.

By Greg Satell

Source https://www.forbes.com/sites/gregsatell/2016/09/16/6-things-every-organization-needs-to-innovate/#c869f5513c05

Managing Change – Three Ways To Manage Change In Your Business

Any business that is serious about innovation and growth will have to master the ability to manage change because innovation will always lead to change. Before we get into the five points of the article, it’s important to provide a little context regarding change management in business and why it is such a huge area for improvement.

A PwC Report in 2013 from the Katzenbach Center with over 2,200 participants from various levels of business highlighted that the global success rate of major change initiatives is only 54% and 65% of employees feel pressured to adapt to too many changes at once. Already we can see that managing change is a difficult process as just over half succeed and more than half of employees feel pressured by change. Furthermore 48% of respondents stated that their company’s lacked the skills to ensure that change could be sustained. While an astounding 44% of survey participants reported to not understanding the changes they were expected to make. With these seemingly damning results the conclusion from the report was that any change management process should focus on being culturally driven from the top down and should be characterised by open communication and clear purpose.

With this information in mind here are three ways to improve your ability to manage change successfully in your business.

1. Drive Change Through Culture

In the Katzenbach Center report it was outlined that 84% of respondents believed that an organisation’s culture was vital to the success of the managing change. What this points to is that it is vital when aiming to make any long term changes within your business to consider the culture of your organisation and to understand that any significant change will be affected by the culture. With that being said a great way to try to drive change with your culture is by getting your employees excited about the changes by outlining their personal opportunities for development and growth during the process. Nothing motivates people more than showing them the personal benefit in what they are doing.

Another approach that could be used is to create a ‘Cultural Change Board’ to help drive change. This board would be made up of key individuals within your business who hold influential positions and importance to the culture of the company. While the owner or director and managers may be driving the strategic implementation of the change, this board would help get the rest of the employees on board. An example of individuals that might be a part of this group could be an individual who has great personal relationships across the whole business; this individual could be asked to get the others excited about the transformation by talking about its benefits. Another individual might be a long term employee who can add some perspective on how the employees and business are going with the transformation to the executive and managers. Another individual might be a young, innovative manager who is typically known as an ‘ideas’ individual. All three members of your ‘Cultural Change Board’ should liaise with management to convey the opinions and feelings about the process transformation. This technique not only opens up a strong line of communication between the staff and management but also helps to more firmly connect the change to the culture, as other employees will see these influential staff members as willing participants. If you can successfully use your businesses culture to drive the changes you want to implement your chances of success and long term adoption increase significantly.

 2Role Modelling From The Top Down

This step of the change management process seems to be very simple but its value cannot be overestimated. It is imperative that from day one of the transformation process that the desired process changes are integrated into the daily processes of all relevant employees. This goes from the most junior floor staff all the way through to the director or board members.

Role Modelling of the new processes in manager and staff daily routines has a twofold effect. Firstly employees that see their leaders undertaking the process changes will feel inclined to participate themselves. Seeing your manager or director undertaking the proposed changes creates a personal accountability for the changes in each employee. The second effect is that employees that see others undertaking the new changes in their daily routines will have a support network to draw upon. If individuals are unsure of how to execute the process or change they need only look at their neighbour and mimic their execution.

Obviously this point is very self-explanatory but the impact of not holistically carrying out the changes across all levels of the business cannot be overstated. A lack of consistent engagement with the changes will kill the transformation very quickly.

3. Fully Engaging With Change

Engagement with the proposed changes goes beyond simply telling employees to undertake the process changes or modelling them yourself. Engaging with change is a process that is enriched by structured communication. Some businesses when undertaking significant change will hold large ‘Town Hall’ style meetings. At these meetings employees from all levels of the company are invited to discuss how the changes would impact them.

Another method of opening up communication and increasing engagement would be to host IC (Innovation and Change) Meetings where a smaller numbers of employees would meet with their direct managers and discuss how the changes impact them, how they (changes) will help them and talk about how they will go about implementing the changes. These smaller meetings are great opportunities for management to get a feel for how their employees are dealing with the changes and to get a macro view of the transformation process.

A fantastic idea for managing change that was used by a global publishing house was hosting an Internal Change Fair. This fair basically brought together all the various departments and management teams to produce a short presentation or display that highlighted how the changes were being introduced and managed going forward. It provides a great way for individual departments to showcase innovative thinking and for driving change by making it slightly competitive amongst employees.

Change management is vital to any evolving small-medium enterprise; never forget that change starts at the top and that most people struggle with it. The role of the manager is to facilitate the easiest pathway for their employees to adapt.

Sun Tzu’s Art of War As A Model For Business Management

Sun Tzu’s Art Of War As A Model For Business Management

The responsibility of being a manager is not something to take lightly at any level of the command structure, whether you are a team leader, department head, store manager, regional manager, general manager or executive your importance to the success of a business is critical. A manager’s role is critical because it is they and they alone who must prepare, select and manage the metaphorical battlegrounds that the business is looking to engage in.

At this point many of you may be wondering what Sun Tzu, an ancient Chinese military general has to do with business management…Well his treatise The Art of War, has and is still regarded by many military and business figures as being critical reading material for those who have to manage people, change and overcome obstacles or challenges. The Art of War has been used countless times by influential business figures, writers and teachers to teach basic management skills and behaviors. Just a few examples of business books based off Sun Tzu’s teachings are:

  • Khoo Kheng-Hor’s, Sun Tzu & Management
  • Gerald A. Michaelson’s, Sun Tzu – The Art of War for Managers: 50 Strategic Rules Updated for Today’s Business
  • Mark R McNeilly’s, Sun Tzu and the Art of Business: Six Strategic Principles For Manages
  • Donald G. Krause’s, The Art of War for Executives: Ancient Knowledge For Today’s Business Professional.

Bearing that in mind we will now outline the five principles that any manager or business owner should follow whether they are at work or on the battlefield…

1. Capture your market without destroying it or yourself

Sun Tzu:Generally in war, the best policy is to take a state intact; to ruin it is inferior to this…Do not put a premium on killing. To capture the enemy’s army is better than to destroy it…For to win one hundred victories in one hundred battles is not the peak of skill, to subdue the enemy without fighting is the peak of skill”

Sun Tzu’s teaching is very clear that it is better to capture your market without having to destroy it or destroy yourself. The goal of any business should be to survive and prosper but to do this a company must aim to capture and secure a hold on their market. This means that the business must drive from the market or diminish their enemy’s role in it. Companies can do this in many different ways but some of them are:

  • Attacking under-served areas of the market.
  • Use marketing campaigns to draw a response from competitors that can then be countered quickly and effectively.
  • Enriching customer service or service quality to improve your market reputation.
  • Engaging more actively with social media and community marketing events.
  • Engaging in more detailed data analysis of the wants and desires of your target market to better isolate and capture your customers.

The most important thing about whatever method of approach you take to capturing your market is that it is not destructive. As Sun Tzu says “to subdue the enemy without fighting is the peak of skill” or in other words, it is better to capture your market through alternative methods than engaging your competitors in direct, aggressive price wars as it not only damages your own bottom line but as a whole reduces the profitability of your market. Where is the logical sense in seeking to destroy something artificially that you wish to possess? Sun Tzu’s teachings encourage business owners to think beyond the simple goal or result. He emphasises that sometimes the most direct solution is not always the best.

2. Avoid your competitor’s strength and attack their weakness

Sun Tzu: “An army may be likened to water, for just as flowing water avoids the heights and hastens to the lowlands, so an army should avoid strength and strike at weakness”

This quote is perhaps the most easily understood of all those featured within this article because it counters the prevalent business idea that the only way to defeat your competitor is to take away his primary income. Sun Tzu is saying that armies or in our case businesses should not target where their competitor is strongest but in fact where they are weakest. To give a real world example. If you owned a travel agency and your nearest competitor was one of the strongest of your peers in their airline sales due to their huge discounting and extensive corporate flight networks, you would be better off targeting and stripping away their large but weaker (more highly priced) car rental packages as a point of attack. To try to compete with their discounting would diminish the profit of the flights for both businesses and also force you to outlay large amounts of capital to cover the discounts. Whereas the car rental packages you offer are already cheaper so you would just have to invest the time to develop an effective marketing campaign to pull clients away from your competitor.

Sun Tzu’s logic regarding attacking a competitor’s weakest point taps into the idea behind the ancient Chinese torture Lingchi or “Death by a thousand cuts”. While destroying your opponent’s largest business area would effectively defeat them, at what cost to you and the market would this occur? Stripping away all of the smaller and seemingly insignificant other business areas will cripple their business just as surely as a thousand small cuts would eventually kill your enemy. It is these considerations of strategy and end goal that a manager must consider.

3. Use Foreknowledge and deception to maximise the power of business intelligence

Sun Tzu: “Know the enemy and know yourself; in a hundred battles you will never be in peril”

This lesson from Sun Tzu is all about knowledge or as we would call it in the modern business environment…data. Any business that wishes to overcome their competitors and truly dominate and understand their business environment must make data driven systems and approaches a focal point of their business. For some businesses this will be collecting customer data, analysing sales figures from specific campaigns or assessing staff conversion rates. That being said other businesses and managers; those truly wishing to be victorious and increase their profits might look at more advanced analytics, modelling and industry wide benchmarking or even predictive analytics for their marketing or purchasing campaigns. Every manager must know that knowledge is power and increased power for the savvy business owner or manager results in increased profits.

For more information regarding financial benchmarking, dashboards or setting up more advanced analytics please feel free to contact us.
4. Use speed and preparation to swiftly overcome the competition

Sun Tzu: “To rely on rustics and not prepare is the greatest of crimes; to be prepared beforehand for any contingency is the greatest of virtues”

This lesson ties directly into the previous lesson because for a manager to effectively take advantage of “foreknowledge” (Data) you must make your business into one that can exploit an opportunity or weakness; efficiently and quickly. In essence what Sun Tzu is saying is that business managers must aim to have their company’s well planned and agile in order to quickly react to sudden opportunities in the marketplace while also ensuring that the business has a long term vision that is well thought out and planned in advance. Ensuring that your company uses agile project planning methodologies could be the difference between making money and losing money.

There will be an article in the coming months covering the agile project management methodology.

5. Develop your character as a leader to maximise the potential of your employees

Sun Tzu: “When one treats people with benevolence, justice and righteousness, and reposes confidence in them, the army will be united in mind and all will be happy to serve their leaders”

A truly great leader who can develop and showcase these strategic concepts will maximise the potential of their employees. Sun Tzu is saying that a manager’s job is not only to demand the best from their staff but also from themselves. To do this a manager should first and foremost be reflective on their own duty and should always aim to be “first in the toils and fatigues of the army (workforce)” or in other words always be willing to work as hard as or harder than any of your staff. There should never be a job that you delegate that you, yourself wouldn’t be willing to do. Sun Tzu says that the leaders that truly inspire their troops (employees) place their own needs, ego and concerns behind those of their employees. A leader must in essence be exactly that, a guiding force from the front rather than a looming figure overlooking his or her staff.

The ideal character of an inspirational leader Sun Tzu characterizes as someone who is wise, consistent, honest, humane and courageous while also being strict.

So in summary while this article may not be showing particularly innovative managing approaches it is important to remember that sometimes to move forward we must first look at the past to understand the foundation of future action. Sun Tzu’s management concepts are timeless and if applied correctly can help managers increase their businesses profitability and their own professional practice.