Extra Points: The Ripple Effect

This past Friday, Barb and I were guests of friends at their lakefront property. They have a dock perched just on the water and had placed some chairs there for the guests. I was sitting there when a speedboat towing a large inner tube with kids came rushing by. The effect of the boat was to be expected; the little dock rocked and swayed gently from the wake. There was a ripple effect from the speed of the boat.

Just like a boat leaves a wake behind it, a crisis or calamity also creates a ripple effect on a business. Here’s how:

Research shows that 25% of an employee’s valuable time is spent dealing with a crisis for days, weeks, and months after it occurs. Leadership teams must deal with employees, clients, investors, the media, and often attorneys. The ripple effect will even include loss of business and opportunity in the wake of the disaster.

You can’t prevent speed boats on a lake or crisis in business. However, you can brace and prepare yourself. I watched a woman with her young daughter on her paddle boat rowing for home when the boat made another pass off in the distance. I watched her slow down and brace herself and her daughter as the strong ripple came through. I also noticed they both were strapped on to the paddle boat for safety in the event they went in the water. This woman was demonstrating both preventative and contingent actions. Are you doing the same with your business?

Understanding and preparing for the ripple effect are two different things. Once one is concerned enough about the consequences of the size and scope of the ripple effect, then action is taken. The best time to do it is well before the boat comes speeding by. My guess is the woman and her daughter knew what to do when the boat came to manage the wake. Are you prepared to deal with the next ripple effect in your business? If you’d like to learn more about how to brace yourself and your company, call me. I have ideas to help you.

Your assignment is to uncover one way you can reduce the ripple effect both in your professional and personal life (because it happens there, too). By doing this, you’re taking great strides to avoid exacerbating the problem and keeping afloat!

Quote of the Day:

“Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.”

~ Helen Keller

© 2019 Toro Consulting, Inc. All Rights Reserved

Unleashed is the registered trademark of Toro Consulting, Inc.

Extra Points: Calamity Doesn’t Call

This past week, Southern California and Nevada were rocked by two earthquakes. If you were watching the news, you saw plenty of video footage of people at home, at work, and recreating when the last quake on Saturday night hit. Having been a part of several earthquakes in my life, I know that sinking feeling when you realize the world you are standing on is no longer stable. The duration seems like forever; and in fact the last one did last 30 seconds, which must have felt like an eternity!
These incidents serve as reminders for all of us, whether we experienced it or not. Yes, if you live in an earthquake zone (especially on the West Coast), then you are likely reading news reminding you about readiness and safety. However this quake should serve a reminder to business owners that their employees must be prepared for ANY calamity because calamities don’t send a calling card ahead of them. They just show up unexpectedly.
Your business – whether you are CEO or employee – must be prepared to respond quickly to any calamity. Each one has different response requirements for safety and business continuity. In earthquakes, safety means getting under tables because falling objects are the biggest concern. Get away from windows, even if you’re outside. From an operations standpoint, the building and contents might be fins, but what about the infrastructure, communications, and transportation?
Here’s the deal: It’s never the wrong time to prepare your employees, co-workers, and family to respond to calamity. Safety is job one, continuation of business is second. My analogy is if no one knows how to use a fire extinguisher, that resource is useless. There are plenty of perils to be concerned of: earthquake, fire, water, wind, and weather. You might have to evacuate or shelter in place. How confident are you in your team? How do you know?
Here’s your assignment for this week: Pick one peril to prepare your team for and do it. Then update your business continuity plan. If you don’t have one, then call me because that plan is a necessity to run a business.
Calamity never sends a calling card, but is always expected to come when you least expect it. Why not be ready for it?
Quote of the Day:
“The return we reap from generous actions is not always evident.”
~ Francesco Guicciardini
© 2019 Toro Consulting, Inc. All Rights Reserved
Unleashed is the registered trademark of Toro Consulting, Inc.

Unleashed® Summit Speaker: Brenda Wall

Brenda Wall is one of my outstanding speakers for the 2019 Unleashed Summit in Poulsbo, WA on September 17, 2019. To learn more and register, click here.

© 2019 Toro Consulting, Inc. All Rights Reserved
Unleashed is a registered trademark of Toro Consulting, Inc.

Extra Points: The Cost of Waiting

Dan_Weedin_022I enjoy cooking. While weekends seem to allow me more time to try new recipe ideas, the weekdays can also be a good relief from the work day. Barb and I try to share the duties, although I often need reminding (which won’t shock many of you who know me well). When it’s my turn, I have great intentions of starting the process early by taking out anything that’s frozen and making sure that I have all the accompaniments ready to go.
Then the day gets started, and I decide to wait and do it when I take a break. I’m reminded about 4 pm when Barb says, “So, what’s for dinner?” I have a definite cost of waiting (or cost of not doing anything). It usually entails loss of my time and money in running to the store to buy something I can quickly put together! The meal is never as good and keeping up my part of the bargain is diminished.
We all are guilty at times of waiting on things we know are important. We are waiting for some extra time, the right time, or we aren’t sure if we even want to do it. Whenever you do a cost benefit analysis on your decision-making for moving forward, ask yourself this question, “What’s the cost of waiting – or the cost of doing nothing?”
Let me share with you three examples from my business and industry:
The cost of not creating a business continuity and disaster recovery plan is that a crisis happens and you lose hundreds of thousands of dollars to your profitability and company value.
The cost of delaying purchasing life and disability insurance is that you suddenly can no longer work – due to death or disability – and the people who are most counting on your income no longer have it available.
The cost of not developing leaders in your company through strategic planning and training turns into decreased employee morale and increased turnover, damaging your brand and company value.
Here’s the deal: We are all very busy and often don’t intentionally procrastinate. If you make asking yourself the question I posed above a part of all your decision-making, the cost benefit analysis will determine it’s priority.
Here’s your assignment for this week: What have you been putting off until “the right time” that would have a terrible consequence due to the delay? We all have one. Identify and fix it this week and you’ll be one step closer to improving your costs!
Quote of the Day:
“We aim above the mark to hit the mark.”
~ Ralph Waldo Emerson
© 2019 Toro Consulting, Inc. All Rights Reserved
Unleashed is the registered trademark of Toro Consulting, Inc.