When people think of success — whether business success or personal success — most usually think first of the logical factors involved. These include financial literacy, marketing skills, or management abilities.
When my first business book, ALL Business is Show Business, was released twenty years ago, my assertion that there was a significant element required for success that was almost always overlooked was met with considerable criticism.
The missing factor is EMOTION.
My point in my book was that just as a movie or television episode attempts to make you laugh, cry, become angry, or scared, emotion plays a crucial role in all fields of business, as well! Being able to understand how other people feel and being astute at influencing emotion are essential aspects of success in every field.
While intellect is critical when considering what makes a successful company or career, it’s still only half the picture. The rest of the picture involves understanding human emotion and communicating with other people — both customers and employees — on their emotional level, rather than just their intellectual level.
An old proverb says, “the hand that rules the mind also rules the world.”
Emotion often determines how people think, what they do or don’t do, and why they act in a certain way. Because emotion plays such a critical role in success, a mastery of the basic techniques of emotion management is crucial to business success. The real key to understanding emotion is recognizing its effect on the customer or employee decision-making process.
You’ll obviously become more successful if you can motivate other people to take action — whether it’s buying your product or becoming more productive as employees.
This past week, Dr. Sigal Barsade passed away at the young age of just 56. As the New York Times reported, “Dr. Barsade, a professor of management at the Wharton School, the business school of the University of Pennsylvania, was a pioneer in what organizational psychologists call the affective revolution: the study of how emotions, not just behavior and decision-making, shape a workplace culture, and in turn how they affect an organization’s performance.”
If emotion is effectively used, it greatly benefits the bottom line of any company.
As the Times article also reported,” ‘For a long time, emotions were viewed as noise, a nuisance, something to be ignored,’ Barsade told MIT Sloan Management Review in 2020. ‘But one thing we now know after more than a quarter-century of research is that emotions are not noise — rather, they are data. They reveal not just how people feel, but also what they think and how they will behave.'”
This is a crucial realization. Successful businesspeople look at emotion as a source of insight and realize that emotion can be influenced and leveraged positively, like every other resource in the workplace.
In summary:
Being able to understand how other people feel and being astute at influencing emotion are both indispensable aspects of success in every field.
You’ll obviously become more successful if you can motivate other people to take action — whether it’s buying your product or becoming more productive as employees.
Emotion often determines how people think, what they do or don’t do, and why they act in a certain way.
Using emotion effectively greatly benefits the bottom line of any company.
Emotion is not noise — instead, it is data. It reveals how people feel, what they think, and how they behave.
Because — just as it was true twenty years ago — ALL business IS “show business.”
Want a tip? Go pick up your pizza at Domino’s! They will give you a $3 tip if you go get your pizza rather than have them deliver it to you.
Thanks to my friend, Dwayne Long, I learned of this new approach from Domino’s. Dwayne sent me a link to the new Domino’s TV commercial, which says, “When you order carryout online from Domino’s, you’re no longer just a customer. You’re a delivery driver.”
Really, you don’t actually get a $3 tip. Instead, you get a coupon for $3 off your next Domino’s order.
(Which is kind of cheating, if you ask me. Imagine giving my Domino’s delivery driver a coupon for $3 off some future purchase somewhere instead of cash? I doubt the driver would appreciate my tipping methodology!)
According to the Wall St. Journal, “Domino’s latest offer comes as the pizza chain, along with many other businesses across the U.S., continue to struggle with staffing levels. A spokeswoman for Domino’s said the company needs more delivery drivers at its U.S. stores.”
It’s something everyone in business today understands. Staffing is an issue for almost every industry.
However, there’s a significant problem with this decision by Domino’s – and it is a point that is essential for every business today!
Domino’s brand is about DELIVERY…not pizza! Few believe Domino’s has the world’s best pizza — despite their recent efforts to improve the quality of their product. Their competitors — Pizza Hut and Papa John’s, for example — have built businesses on having great pizza. Domino’s established their empire on getting their pizza to you hotter and quicker than anyone else.
Domino’s has spent years creating their business around delivery, not carryout.
Here’s the central problem: Promoting and incentivizing customers to bypass delivery seems to encourage customers to negate the primary aspect of their brand.
The Domino’s Delivery experience is the company’s primary asset. Let’s face it, Domino’s practically owns the “delivery” category in pizza. Domino’s should not compromise its brand for the sake of momentary convenience. They will suffer more in the long term by neglecting their brand.
By promoting carryout over delivery, they degrade their most valuable asset. They minimize the very aspect that makes them distinctive in the marketplace.
Contrast this effort with that of my friends at Pizza Hut. They’ve moved all their chips in on their product. Notice their tagline now: “No one outpizza’s the Hut.”
Here’s the critical factor: Pizza Hut has doubled down on the aspect they believe is their brand.
Yes, there is a critical shortage of quality team members in almost every industry right now. However, the intelligent business will never sacrifice its distinction for a short-term fix. Businesses need to follow the Pizza Hut example: invest more in your point of distinction, never minimize it.
Being distinctive is always superior. Domino’s should never compromise its brand for the sake of appearing “convenient.” You shouldn’t either!
Here’s a problematic question for entrepreneurs and managers: is it that people don’t want to work nowadays? Or is it that they don’t want to work for YOU?
Twenty years ago, I wrote that you must provide the “Ultimate Experience” for both customers and employees. Over the past two decades, we’ve observed significant strides in how organizations engage their customers. Frankly, we haven’t seen that level of progress across the board regarding employee engagement.
In the United States, we’ve heard many leaders talk about how today’s employees don’t want to work and are lazy. Many studies are confirming this is not true. The companies and managers who have had problems with employee engagement have failed to create an environment where their staff was happy or felt it was a place they wanted to work.
To have a successful business, you need happy and engaged employees. It’s not only the right thing to do, but it’s also good for business. Employees who are disengaged cost businesses billions of dollars every year in lost productivity. Gallup has even gone as far as saying that employee engagement is the key to success for any organization.
Here are a couple of questions for you:
Have you designed the employee experience with as much passion and precision as you plan customer acquisition?
Have you developed a specific list of WHY both current and prospective employees would recognize working for you as a superior option from their other opportunities?
For most, frankly, the answer will be, “No.”
That needs to change — and it needs to change now if you want to attract and retain a superior team.
So, what can you do to create an environment where your employees want to work? It’s not easy and takes time, but here are five tips:
Treat your employees with respect. This includes listening to them and considering their ideas.
As I wrote in “ICONIC,” respect is reciprocal. If you want your team to respect and value you and your organization, you must display how you value and respect them FIRST.
Make certain they feel appreciated. The best way to make your employees feel part of the company is by giving them ongoing recognition. In other words, leaders don’t recognize their work only when milestones are met or when achieving sales targets.
Recognition can be in many forms, including praise for doing a job well done, even if it’s not on the radar screen yet.
Offer them development opportunities. No one wants to feel like they’re stuck in a dead-end job.
Employees want to know that there is room for growth and that they are valued enough for the company to invest in their future.
Let them have some fun! Work can be stressful, so it’s essential to find ways for employees to let off some steam.
Whether through social activities, team-building exercises, or just taking a break for a little bit, employees need to know that they can have fun at work and not be all work and no play.
Finally, PAY MORE! My great pal, Randy Pennington, related a story on a recent live stream where we both were guests about a consulting client of his that dramatically increased the compensation of his team. Guess what? It SAVED him money!
How could this be the case?
He reduced his expenses of recruiting and onboarding new team members.
He drastically reduced turnover.
He kept his best employees and attracted top-level recruits.
He prevented massive overtime outlays because he now had a productive team that could get the work done during regular hours.
AND the fact that no one had to put in extra time meant happier employees and families.
The next time you think about how employees “just don’t want to work today,” remember it’s not because they’re lazy. It’s likely because they aren’t attracted to work for a company that they aren’t certain appreciates them or doesn’t have their best interests at heart.
Change your ways and see how your employees change their tune!
If you can successfully implement these tips, you’ll be well on your way to having an engaged and happy team!
Whoever said, “Imitation is the sincerest form of flattery,” got it all wrong. As I have often said (and been quoted for it), imitation is the sincerest form of theft.
Being like your competition was assumed to be a safe space for many. No longer. If all you are is a mirror image of your rivals, then you’re nothing more than a commodity.
Being distinctive is the key to success.
You must be willing to think uniquely and develop ideas to stay ahead of the curve. It is why “Creativity” is the second of the Four Cornerstones of Distinction.
To help you get started, here are ten steps that will help you think differently:
Step #1: Be curious. The best innovators are always curiosity seekers. They’re constantly exploring new things and looking for ways to improve their products or services.
Step #2: Embrace change. Change can be scary, but it’s required for innovation. If you’re not open to change, you’ll never create anything new. You cannot create distinction by doing things the way they’ve always been done.
Step #3: Take risks. Innovation requires risk-taking, so don’t be afraid to experiment and try new things.
Step #4: Be open to feedback. Feedback is essential for innovation, so make sure you’re always listening to what others whose opinions you value have to say. This doesn’t mean the nay-sayers on social media should rule your thoughts. It means seeking and obtaining insights from those who sincerely want you to succeed.
Step #5: Think outside the box. (As much as I hate that old cliche — it is the truth here.) Don’t be afraid to come up with unconventional ideas. Think about it; someone really said in a meeting somewhere, “What if sharks got caught up in a big tornado?”
That sounds strange, but it was probably just as wild when Marc Randolph (my colleague on the “in residence” faculty at High Point University) said to Reed Hastings, “What if you got DVDs in the mail instead of having to go to Blockbuster?” (You know how that turned out with Netflix, right?)
Step #6: Be persistent. Innovation doesn’t happen overnight, so don’t give up if your first few ideas don’t work out.
Step #7: Brainstorm often. For many, the most productive approach to develop innovative ideas is by brainstorming with others.
Step #8: Be patient. Innovation doesn’t happen overnight, so be prepared to work hard and put in the time necessary for success.
Step #9: Stay up-to-date. To stay ahead of the curve, you need to keep up with the latest trends and changes in your industry and others. By learning about what’s new in other industries, you may get insight into what you could do to stand out in yours.
Step #10: Get inspired. Inspiration can come from anywhere! Be certain that you’re constantly looking for new sources of inspiration. I’ve learned they are all around us – we just need to be on the lookout for them!
Remember, it’s not about copying what others are doing! It’s about creating fresh ideas that will help you stand out from the competition and create distinction!
It was a conversation that changed everything about how I viewed my own business – and, perhaps, how you should look at yours.
Several years ago, my wife had just passed, and my friends in the legendary country band Diamond Rio were concerned about me. Rather than let me remain alone in the house I had shared with my recently departed wife, the band invited me to go on their tour bus with them for a West Coast swing of concerts in California.
Late one night heading down I-5, one of the guys mentioned, “Our businesses are so much alike.” I offered my opinion that our respective endeavors were nothing alike!
I was a speaker giving business presentations, traveling alone (usually by air, not by bus) on the road for corporate audiences — they were a Grammy-award winning band, traveling together on a bus to play their music to fans who individually purchased tickets by the thousands.
Drawing a circle on a piece of paper, one of the band members said, “The core of everything for us is strong material — great songs.” He filled in the circle with the word “songs.” Then, drawing several lines radiating out from the ring, he put a word at the end of each line. One said, “gigs.” Others had aspects such as “merch” (for band merchandise like t-shirts and posters), “fan club memberships,” “PR,” “airplay,” and “sponsorships.”
“If we have a great song — and we’ve been blessed with many,” he said, “we get airplay on the radio, people want to come to hear us play at gigs, buy our albums, sign up for fan club memberships, corporations engage us for sponsorships and to appear on their commercials, and the world is more receptive to our efforts in public relations and the charitable work we do for Boys & Girls Clubs.”
“However,” he continued, “if we don’t have great songs, then NONE of this is possible. We recognized that while the most profit might come from our live concerts, that’s not the core of our business.”
“The core of our business,” he said, “is strong songs.”
He took another sheet of paper, drew another circle, and inside of that, he wrote, “content.”
“Here’s where our businesses are alike. The core of your business is in the insights and ideas you have.” Once again, he drew lines out from the circle on the page. Writing words at the ends of these new lines as he spoke, he stated, “That content is expressed through…” and he wrote, “speeches,” “books,” “social media,” “PR,” “consulting,” “coaching,” “training,” and “virtual.”
“Likely, your greatest current income is from the speeches you deliver — just like ours is from the concerts we perform. But the core of your business has to be your content. Everything must spring from that.”
It was the best consulting session I’ve ever received — and it changed how I viewed my business forever. I stopped looking at the product I spent most of my time selling — at that point, it was keynote presentations — and started focusing more on what had been revealed to me as the core of my business. And, thankfully, the results I received from that advice years ago have been nothing short of phenomenal.
Now, I ask you…what is the core of YOUR business or profession? And how can you ensure that your core is as strong as possible?
This is NOT, to use a trendy term, your “why.” Your why is personal — it’s the reason you do what you do. Your core is the center point of your efforts. It is the place from which all your activity will spring forth.
You may be like I was and think the core is what you sell the most — however, in many cases, it’s not. This confusion about your core may contribute to lost sales, productivity, and lack of employee and customer retention.
Examples about Apple are overused, but it makes the point in this situation. If an Apple product becomes too complex to use intuitively, it deviates from what we know to be the essential element that has made them great. I would suggest Apple’s core (pardon the pun) is “insanely easy to use.” It’s not a phone or computer, watch or accessories.
Other companies may have more advanced technology — for example, Samsung’s latest folding phone is remarkable. However, we trust that an Apple device will combine what Steve Jobs called “insanely great” products with what we, who are customers, presume in ease of use.
Yet, if you work in tech at Apple, you might have a different “ease of use” standard than the average customer. You might want to push the envelope of technology without as much regard for a newbie’s learning curve.
For example, how many websites do you imagine designers create to impress other competing designers — rather than be easily functional for a prospective customer? Ever been on a site where you cannot figure out where to go to get the answer you’re seeking? The core of the website should be to inform, engage, and inspire customers to do business with us — not to impress them with the new technological bells and whistles of our code.
Here’s what I would suggest: take a blank sheet of paper and draw a circle in the middle. Think long and hard about the word or words you’ll place there.
Next, draw lines that extend from your core and consider all activities, products and services, and future opportunities that can derive from it.
Notice, as well, that if something isn’t congruent with your core, it detracts from the clarity required to create distinction in your market.
This approach could be the beginning of the deep thinking required to move you and your business to what you want to achieve. It certainly was for me.
This is the time of year when you’ll see a plethora of posts about how to launch your New Year positively. You’ll also see countless conversations on television news about your resolutions for the coming year.
Well… here’s one more — however, I’m going to suggest you need something OTHER than New Year’s resolutions. Don’t make the same mistake as last year and set resolutions — set goals! You need New Year’s Goals.
New Year’s goals are better than New Year’s resolutions.
What’s the difference between New Year resolutions and New Year goals? You probably don’t remember what last year’s resolutions were – they were just to do something more meaningful, like lose weight or get in shape. Resolutions kind of happen by themselves.
With a resolution, you say to yourself what you want — then you try to find the discipline to achieve it. The most cited example to prove this point is to look at how crowded fitness centers are in January versus how relatively empty they are in May.
Goals are different.
Goals must be stated to get done. You have to write down your New Year’s goals. This enables you to create specific action steps toward success.
So how do we set New Year’s goals? There are many ways, but I’m going to suggest a process that has worked for me in the past.
The first step is to take inventory of where you are right now – what’s working and what isn’t? This will help you set some goals around things you want to continue doing, as well as areas you’d like to improve.
The second step is to get clear about what you want – in other words, your goals. It doesn’t mean they have to be lofty or pie-in-the-sky; instead, it’s crucial that they inspire you and make you feel good just thinking about them. You don’t say you’re going on a vacation “somewhere.” You’re specific — you’re heading to Disney World or Vegas, for example. The same is valid with your goals. You have to be precise.
The third step is to create a timeline for your goals – when do you want to achieve them? Again, this doesn’t have to be rigid, but it’s helpful to stay on track. Remember — most people do not set unrealistic goals. Instead, they set unrealistic time frames.
The fourth step is to come up with an action plan – what are the specific steps you need to take to achieve your goal? Break it down into concrete, precise steps. This will help ensure you don’t leave out any steps in between.
The fifth step is to take action – the only way to achieve New Year’s goals and resolutions alike is by taking action! Thomas Edison said, “The value of an idea lies in the using of it.”
And finally…commit yourself to your New Year’s goals. Don’t be shy about letting people know what you’re working toward. The more accountable you are, the better chance you will achieve New Year’s goals.
New Year, new you? WRONG. New Year, New GOALS.
So distinctive New Year’s goal-setters – get to it! And have a very happy New Year, and I join you in looking forward to a happy, healthy 2022!
(If you’d like to get your New Year off to a terrific start — consider joining our Iconic Inner Circle! You get to try it out for a month for free…and there’s no obligation to continue. Take it for a test drive! Check it out at https://IconicInnerCircle.com.)
