I have long preached that “value” is simply perception. The value one places on $100 varies greatly from person to person. The same is true of time. An hour spent with an associate may seem like a waste to some, while to others, it is time well spent.
Let me give you a couple of examples:
I was at a trade show talking to a potential client about my sales and sales management training program. After about 20 minutes, he asked how much the program cost. I replied, “$995.” To which he responded, “Do you have change for a twenty?” I laughed and said, “I’m sorry, but you have the decimal in the wrong place.”
Last night, I attended my grandson’s high school hockey game. They were playing in the state championship quarterfinals and lost the game 2-1. Needless to say, they were extremely disappointed—especially the seniors, who wouldn’t have another chance next year.
One of the seniors exited the locker room and immediately embraced his dad for about 10 minutes. Both were crying and visibly upset. Who could blame them? They worked their tails off.
I was glad I got to witness that exchange—it was obvious that the father and son have a great relationship. The father understands the value of time spent with his son. It was a beautiful thing.
I recently conducted a seminar for a retail trade association. I asked a group of about 100 business owners:
“How many of you can name the last 10 books you read on business, personal improvement, or salesmanship?”
Not a single person raised their hand.
Then I asked, “How about the last five books?”
Same response.
I then asked, “How many of you can name the last book you read about your profession?”
A couple of people raised their hands.
The sarcastic side of me came out, and I said, “Okay, has anyone read an article—or even a paragraph?”
They laughed, but the realization was sad. No wonder some businesses struggle.
I was working with a small business that had hired me to conduct a needs assessment. First, I met with the owner to discuss each employee’s strengths and weaknesses. She mentioned one new hire who had been there about six months. The employee was productive, punctual, willing to do whatever was asked, always put in extra effort, and even volunteered for additional tasks.
The business owner told me she saw this woman as a potential management candidate.
Later that day, I spoke with the employee and simply asked, “How do you like working here, and how do you think you are doing?”
She hesitated and said, “Can I be honest with you?”
Uh-oh. Red flag. It’s like when your spouse says, “We need to talk”—rarely does anything good follow those words.
I assured her, “Absolutely. I’m here to help you and the company.”
She told me she was concerned because someone hired after her had recently been laid off, and she feared she might be next.
I thought, “How can this miscommunication happen in a business with only 10 employees?”
The owner thinks she has her next manager. The employee thinks she’s about to be let go.
My guess? She was already searching for another job to protect herself and her family.
I asked, “When was the last time you had a 15-minute conversation with the owner?”
Her answer? “During the interview process.”
Totally unacceptable.
I was working with another small business owner who had hired me as a consultant. He had one of those contagious laughs, yet to his employees, he was gruff and only spoke to them when they made mistakes.
His employees were scared to death of him.
I asked, “How often do you sit down and talk one-on-one with your employees?”
He answered, “I have a staff meeting every Monday morning when I’m in town.”
Through our conversation, I learned that he spends:
- 2 weeks per year traveling for buying group shows
- 2 weeks per year at focus group meetings
- 1 week per year leading another business focus group
- 10 days per year at his industry’s major trade show
- 2 weeks per year at smaller regional industry shows
- At least 2 trips to New York for purchasing
- 3 weeks of vacation
His industry peaks during the holidays, where training and coaching are nearly impossible for about 5 weeks..
Add it all up: More than three months of the year, he isn’t available.
My advice? Schedule a one-on-one meeting with each employee once a month. Get on the sales floor. Give a few high-fives. Laugh with your team.
Sales skyrocketed.
Nothing is more important than investing time and money into your most valuable asset:
The Lesson – Invest time and money in:
- Yourself
- Your business
- Your family
- The people who look up to you
Two Questions
- Do you have a line item in your expense report or budget for “Training and Development”?
- Do you schedule time with your family, employees, and business associates?
Bottom Line
Leaders and parents must invest time and money in their most valuable asset: people.
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Reread this information, write down your top 2 takeaways. Acknowledge how they relate to you and your situation. When speaking with your audience try to develop your own stories and analogies on how it applies to them. Share your biggest takeaway in the comments section. I would love to hear from you.
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