ALTI's Apprentice Boardroom Report For 4/01/05 (Episode #11)

APRIL FOOLS!

Practical Lessons From The Apprentice
Business Lessons Potpourri

The remaining 8 contestants participating in the 11th episode of Donald Trump's Apprentice job interview and reality TV show were charged to create a pizza using uncommon ingredients for Dominos Pizza. 

There were few substantive lessons and thus, I've opted to offer a potpourri of practical tips suitable for anyone in business.

What Makes Someone A Good Leader?
Often Mr. Trump questions a candidates ability to lead his or her team. I've caught myself on more than one occasion seeing his point, conceptually, but not finding a complete lesson in his examples. So, I've decided to dig up some research on leadership so we all can better understand what is expected of a leader.

 

Your Turn... Have you taken away any valuable lessons from watching The Apprentice?   I'd like to hear your feedback. Just call the Apprentice Feedback voice mail line (800) 598-1338 ext. 9915 or email .  If you make a good point you could be featured in this newsletter.

According to the military, a leader is someone that others look up to and is someone they trust. Leaders have earned the respect and honor of their peers. Leaders tend to do the right thing, even when no one is looking. Leaders are effective at communicating ideas and selling them to achieve buy-in from their peers. Leaders have a strong vision for the future.

Leadership is gained by ones actions, consistent behavior wins trust and loyalty. In business, skill, competence in ones profession are a good start.  Regard and value for people form the foundation for trust and loyalty. Genuine inspiration and motivation is accomplished by a solid core set of values and beliefs that drive a leader.

--- SIDEBAR ---
Listen to my audio analysis of why Stephanie was fired along with additional tips on how to find balance in delivering exemplary customer service while maintaining healthy profit margins. 

Although your position may give you the authority to accomplish certain tasks and objectives in your organization, this power does not make you a leader...it simply makes you the "boss". Leadership makes people want to achieve high goals and objectives, while, on the other hand, bosses tell people to accomplish a task or objective. A boss tells others what to do...a leader shows it can be done.

U.S. Army 11 Leadership Principles: 

• Be tactically and technically proficient 

• Know yourself and seek self-improvement 

• Know your soldiers and look out for their welfare 

• Keep your soldiers informed 

• Set the example 

• Ensure the task is understood, supervised and accomplished 

• Train your soldiers as a team 

• Make sound and timely decisions 

• Develop a sense of responsibility in your subordinates 

• Employ your unit in accordance with its capabilities 

• Seek responsibility and take responsibility for your actions

Are Sales Critically Important?
A winner is determined in most tasks of The Apprentice by sales or profits. Just as with your business, sales and profits are vitally important to your success and your longevity. Over the course of the apprentice, I've seen a couple really solid sales strategies. Here is one that I may not have mentioned yet.

Pre-selling: From the moment you decide to be in business, like it or not, you are always selling. From the CEO down, everyone sells. Business who are aggressive often pre-sell meaning they get commitments, purchase orders and often payment in advance of the delivery of the product or service.  These business are wise to do this as it increases cash flow and requires less capital investment.

How Do You Target A Market?
Effective marketers recognize the value of qualified leads. They understand the sales function is a continuum: Suspects (unqualified prospects) must be converted into prospects (inquirers). Prospects must be qualified. In turn, qualified prospects must be cultivated, nurtured and converted into paying customers. Lead qualification is all about filtering prospects so resources are deployed against those who are most likely to become customers.

Target Marketing deploys marketing assets in a manner to move potential customers as far as possible into the sales cycle. In the case of tonight's episode, sending promotional models to college dorms during lunch, during the week, several blocks away is not the highest targeted market. Most people know during school, college students consume more pizza on a Friday or Saturday night than any other time. However, hungry business professionals chained down to their desks over lunch are an easier target to sell.

When looking at your target market, it is important to know when your customers buy, why they buy and which demographic has the financial resources to pay for your products or services.

Business Etiquette 101 - Control Your Temper
Many businesses are comprised of a diverse group of people, men women from several races and cultures are expected to spend more of their waking hours with each other than most will spend with a significant other. It is very important to maintain a professional workplace atmosphere that is comfortable for everyone - especially the customer. 

We have all become familiar with Chris Shelton's, 22, explosive temper and foul mouth. While he has incredible potential, Chris will cap his success if he does not learn to contain his temper and clean up his language. This type of behavior does not win customers, it does not create customer loyalty and it certainly erodes leadership potential. The fact that Chris has made it this far is astonishing.

Bottom line, never lose control. If you must raise your voice or swear, do so under full control, and only to emphasize a point. However, I personally like to challenge myself and try very hard not to resort to such tactics as I feel they are too emotional, often transparent and unproductive.

Shameless Plug: 
Do You Surround Yourself With Impartial, Knowledgeable, Advisors? 

ALTI Consulting and our team of specialists can work with you to develop an advisory committee to help you see the forest through the trees. To get started give us a call or shoot us an e-mail for ONE free hour of complimentary consultation. (206) 984-9560 or

Feedback From Last Week Barbara Joyce, Phoenix Arizona: I watched the tail end of the show and thought it was interesting how they tied in with Home Depot this time. Great move for Home Depot!! I thought they did a good job. It was nice to see how they got the kids involved and promoted almost a Rockwell feeling with this Box family project.  At the end I applauded Donald. The dark haired girl was condescending and her big fat finger bit her in the butt. Boy did she pushed her luck. I knew she would get fired and wondered what took Donald so long. She lost her cool and was obnoxious. She clearly lacked quality leadership skills. Ryan Clark, South Bend Indiana: I really enjoyed your article about how execution is more important than an idea alone.  I agree wholeheartedly as I've seen too many people bank to heavily on a good idea alone and just expect by virtue of the idea being "better" that it will execute itself. It simply doesn't work that way. Oh, I've also heard that 8-track tapes were superior to cassettes (not that I'm old enough to know). Please keep up the good work.

Its nothing personal, its just business...

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