Catalyst Session 2

Another excellent Catalyst session last night with new people  - all in a variety of industries and interestingly enough, focused on the same situation - how to move an organization forward in a tougher market, while sticking to the culture, the values and the vision.

Here are the notes:
Customer attraction....new views on how to get this going with all that is coming at us and the limited resources.


The discussion started around building a culture of change that needs to take place to move business forward; that we are now in a referral business opportunity even though we are thinking that we have done this long enough - it is not true - new customers do not know us or trust us yet.  We need to constantly be out there.

Mastermind Team Thoughts:
* Have more competition than we did before

* Profit not a question, it's about putting food on the table

* Frustration at quality of work not being recognized, refusal to compromise

* Learned a lot of lessons of efficiency

* Do you spend time talking about vision and values with your staff?

* What do you do to get new clients?

* Referral program with incentives for people to provide referral - difficult in some businesses with lots of corporate regulations/policies

* Generational ....need to look at what they know - how to benefit from other (newer) generations, how to get them involved, what pushes their buttons

* Recognize when ego gets in the way

* Individual people don't exist, the company does...may need to forge new connections and build new relationships

* Team that rises to the challenges and suffers the change are the ones that will be successful

* Collaborate with others in complementary businesses - good way to share messaging and costs

* Huge change in advertising by Project Profiles...send out detailed information to clients on what the company can provide - they may have never considered the company for this type of project and now have you on radar

* Moment of magic....you are building a brand and developing the moments with the customer, defining how you will do business in the future, defining your culture

* Tribal knowledge is starting to disappear, how do you capture the expertise that you currently employ so that this legacy does not disappear?

* All we do is for people...at the end of the day - whether customers, employee, investors - they are all people...that is our focus.


Action Step:  Complete a SWOT analysis of your organization.
By itemizing Strengths, Weaknesses, Opportunities and Threats  you may find new sources of information or ways to handle what is currently standing in your way.  Once you have completed the exercise, ask someone to review it and see if you have missed anything - a fresh perspective provides challenges, new insights and viewpoints - be ready for honesty and ask more questions so you are clear on the messages they are giving you.

A mastermind team works in this way - to provide new perspectives, challenges, and honesty ----sometimes a little tough love along the way.  If you would like more information on Mastermind Teams, please email lora@solsticegroupcoaching.com .

Catalyst Session Notes

Today I held my first Catalyst Session at the Downtown Business Accelerator in Windsor Ontario.  A great space with a wonderful group of participants who worked through the following thoughts:

• What I know about my business
• What keeps me up at night
• What I need to learn
• My immediate business challenge

One participant stepped up and offered his challenges for all to work on in a mastermind session.
Here are the notes  - applicable to many inside and outside the room.

The challenge focused on the forced change that life has thrown his way, so the options exist to pursue the corporate world or take on the challenge of becoming an entrepreneur.

Team Feedback:

• Understand your reality by the numbers - how long will your present income last?
• Set a 'parachute' timeline so that you are able to survive, pay the bills and explore the option.
• Be realistic about wanting the 'pain' of entrepreneurship or choosing to always be a great #2
• Do you have passion for what you have set out to do?
• Spend time developing your personal vision - 5yrs, 10yrs +
• Do a SWOT analysis on yourself.  Do an external scan on that SWOT - ask for open feedback.
• Develop a clear client profile
• Develop a clear message about who you are and what you do
• Be open-minded to the opportunities that are out there that may not be in your current field but can still use the skill set you have already developed
• Understand your optimum level of momentum?  What is the amount of chaos you want/need in your life and can you get that from work as well as other sources - working out, hobbies, groups etc?
• Develop an elevator pitch and a short referral phrase so that others can help refer business for you.
• Be open to flexible opportunities, perhaps even suggest them as you go through this process.
• Make a decision - commit.

All great feedback!  Thanks for participating and helping someone ignite their future.  If you would like to learn more about becoming a Catalyst, drop me a line at Lora@solsticegroupcoaching.com.