Archives for November 2016

A Reason to Avoid Politics at Work

Posted on: 11.26.16 | by Matthew Kenney

Our MBA students hear it early in their program: Try not to mix business and your political opinions (unless, of course, you’re in the business of politics). Doing so runs the risk of alienating some existing and future customers; and can cause needless drama within organizations.

Towards the end of their MBA, our students study research methods and learn why it’s possible — indeed even probable — that the same statistical findings can be used to support both sides of an argument. Let’s use the election recount in the news as an example:

– One candidate won the popular vote by 1.4%

– The other candidate won the electoral vote (57% to 43%) and 60% of the states.

Do you see how we can all look at the exact same data and arrive at different conclusions as to what is fair and unfair? The point: Statistics are meaningless until we understand our own biases. Evaluating statistics requires a commitment to objective analysis. Otherwise there is a temptation (regardless of whether our political perspectives lay on the left or right) to bend statistics to confirm our existing beliefs. That’s not the purpose of statistics, and it’s partly why political debates shouldn’t take place at the office.

Here is an example we use in our research discussions to illustrate this principle: 35% of American adults are overweight. That’s the data, which is undisputed. Now, is this an opportunity for health food or junk food manufacturers? The answer: It’s an opportunity for both. The opportunity is not determined by the data, rather our interpretation of the data. That interpretation will be influenced by many factors.

So, what do we advise students and entrepreneurs to do? Use statistics, of course, but use them carefully and objectively. Avoid using one stat to rationalize an argument as very few issues are simple enough to be explained by statistics alone. This is especially true when it comes to political issues. It’s generally best to keep politics out of the workplace (unless you’re in the business of politics).

Overcoming the Knowing / Doing Gap

Posted on: 11.14.16 | by Matthew Kenney

There is something known as the knowing-doing gap, which many entrepreneurs will experience during their careers. This phenomenon occurs when we know we need to do something to achieve a desired outcome, but we do not do it. Today we will discuss the science behind developing positive habits.

Developing Healthy Habits

In 1960, a plastic surgeon named Dr. Maxwell Maltz published a book called Psycho-Cybernetics. In the book, Dr. Maltz wrote how he noticed it took his patients – on average – 21 days of repetition to form a behavior that becomes automatic. However, there was no scientific evidence supporting this statement.

It is not uncommon for misconstrued research to get re-stated so often it’s reported as fact. This is one of those facts that gets shared a lot without a basis for truth. While the intention is positive…the evidence is underwhelming that people generally develop a habit it 21 days. Yet, people do develop positive habits. So, is there a magic number of days?

In 2010, British researchers launched the first scientific attempt to determine how long it takes to develop a positive habit. Their findings: It might take as little as 18 days, or as many as 254 days to form a positive habit (depending on the complexity). On average, it takes 66 days of repetition to ensure a behavior becomes automatic.

Developing Great Entrepreneurial Habits

A habit is simply a behavior. Outcomes are achieved through behaviors. Therefore, to accomplish desired entrepreneurial objectives we need habits that will result in the desired outcome. So how do we develop these habits? The answer appears to be practicing the habit for 66 days (or about thirteen 5-day work weeks).

As we practice, something interesting happens within the human brain: Desired behaviors become automatic habits. Scientifically, this process is known as automaticity. It is really no different, however, than the “practice makes perfect” adage. If we will simply have the discipline to do what is needed, eventually our brains will map the behavior as a positive habit. The knowing-doing gap will be bridged.

If you know something needs to be done – but you are having trouble getting into a routine – try setting a 66-day goal. Dedicate time each day towards your objective. You may find it challenging at first. However, force yourself to do it every day…starting today. Soon you’ll have an ingrained habit that generates positive rewards.

Customer Service vs. Consumer Service

Posted on: 11.03.16 | by Matthew Kenney

The word customer derives from “customs”, which derives from the Latin word “custumarius“. Historically, a customer was one who had been authorized — often by Royal Authority — to bring goods into a country via a Custom House. For the last 500 years or so, the meaning of the word customer has been generalized to mean a person with whom you do business.

Using this contemporary definition, we should ask: Who are the people we’re doing business with daily? We do business with buyers, of course. But we also deal with vendors, colleagues, prospects, community members, and government agencies etc. Therefore, every person we do business with is a customer.

The logical inference: We should provide customer service to all people (because they are all customers), not just the small percentage of people who exchange money for our products or services.

Practical Tip: See Yourself as the Customer’s Customer

Think of it: If “every person we do business with is a customer”, then you are your customer’s customer. As a customer, do you expect to be provided with excellent service? Do you want to be treated with dignity and respect? Do you want the type of opportunities that have been afforded to others in the past?

To get those things, you have to give those things. Begin by treating everyone the same way. “Customer service” is not synonymous with “consumer service”. Customer service is about treating others the way you want to be treated. Customer service is essentially professionalism-in-action.

As professionals, we need not take a narrow view of customer service (i.e. only satisfying buyers). Growth occurs when everyone is seen as a customer, and collective talents are focused on satisfying all of the company’s customers…both internal and external.

“The function of education is to teach one to think intensively and to think critically. Intelligence plus character – that is the goal of true education.” – Dr. Martin Luther King, Jr.

Archives for November 2016

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