190 - How to Leverage the 80/20 rule to enhance efficiency and profit in small business with Michael Barbarita

Michael, a business owner and consultant, shared his experience growing Ski Town U.S.A. by implementing unique strategies like a ski guarantee, which led to increased sales. He emphasized the importance of identifying and addressing customer and employee problems that they don't want, rather than focusing solely on financial incentives. Michael discussed his current work with trades businesses, highlighting the challenge of finding qualified employees and the growing importance of work-life balance for today's workforce. He introduced his book, which offers a 7-step formula based on the 80-20 rule to help business owners focus on activities that drive 80% of their revenue.   . Manny encouraged the audience to connect with Michael for more insights and book interviews by visiting nextstepcfo.net/contact and mentioning "book interview" in the message box.  

Manny discussed the importance of reflection in achieving success, drawing from John Maxwell's teachings. He emphasized that before setting goals for the coming year, it is crucial to take time to reflect on accomplishments from the past year, as this practice can lead to greater success in the future. Manny planned to walk through the reflection process, highlighting its significance and benefits. Reflection for Personal Growth Manny discussed the importance of reflection in evaluating one's accomplishments and experiences. He emphasized the need to pause and assess progress regularly, not just daily but also monthly, quarterly, and yearly. Manny highlighted reflection as a powerful tool for learning lessons and gaining insight, using an athlete's post-game evaluation as an example. Leadership Reflection for Growth Manny discussed the importance of reflection in leadership and organization growth, drawing parallels to how athletes and coaches analyze performance to improve. He emphasized that leaders should take time to review and reflect on their actions and decisions, just like coaches study game films to identify areas for improvement. Manny stressed that reflection is a valuable tool across all aspects of an organization and encouraged attendees to embrace this practice for personal and organizational development. Year-End Reflection and Goal Setting Manny discussed the importance of reflecting on accomplishments and setbacks at the end of the year. He emphasized the need to celebrate wins, no matter how small, and to acknowledge both successes and failures. Manny suggested using this reflection process to identify areas for improvement and set goals for the future. Sales Strategy Reflection and Improvement Manny discussed the importance of reflecting on sales strategies to improve performance. He suggested creating a list of what went well and what didn't in past deals to avoid repeating mistakes. Manny emphasized the need for organizations to focus on increasing sales before addressing other financial aspects. He also highlighted the importance of personal customer interactions and tailored solutions in building loyalty and driving growth. Maximizing Sales and Retention Strategies Manny discussed strategies for improving sales and customer retention, emphasizing the importance of focusing on the 20% of activities that yield the most results. He highlighted referrals as a key source of business and encouraged examining customer loss to identify areas for improvement. Manny also stressed the need to address customer departure reasons to enhance retention rates. Leadership and Financial Strategy Insights Manny discussed the importance of reflection and how it led to regaining two major customers. He emphasized the need to assess leadership teams, identifying strengths and weaknesses, and suggested leadership training as a solution. Manny also stressed the critical role of cash in business, urging a review of successful financial strategies. Cash Management and Leadership Transition Manny shared a story about a financial expert who transformed their organization from relying on credit to becoming cash-based, highlighting the importance of reflecting on and addressing cash management issues. Manny then promoted Covert Leadership Training, emphasizing its role in helping organizations adapt to new leadership styles and transition from authoritative to servant leadership. Reflection for Pattern Recognition Manny discussed the importance of reflection in identifying patterns, behaviors, and outcomes, both desired and undesired. He encouraged participants to set aside time for personal and team reflection exercises, suggesting journaling and using sticky notes for collaboration. Manny emphasized the value of conducting after-action reviews to enhance organizational success and project management. Reflective Project Management Insights Manny shared his experience with project management at Boeing and emphasized the importance of regular reflection, comparing it to how football teams analyze their performance after every game. He encouraged listeners to take 5 minutes daily or weekly to reflect on what went well and what didn't, and to use these reflections to improve and build their businesses. Manny mentioned that he reviews his annual reflections to recall important details and will discuss this process further in a future episode. Daily Reflection for Success Manny emphasized the importance of reflection as a daily practice and a tool for success, highlighting its benefits for leadership, decision-making, and organizational effectiveness. He encouraged listeners to incorporate reflection into their routines to enhance performance and improve the bottom line. Manny concluded by expressing gratitude for the audience's participation. Reflect for Success, Connect with Us Manny discussed the importance of reflection before planning for the next year, emphasizing that it sets individuals up for success. He encouraged listeners to subscribe to the podcast, share their reflections, and connect with Covert Leadership Training for further assistance. Manny provided various contact options, including his email and phone number, and expressed hope that the episode was helpful. Next steps 1.    Set aside time over the next few days to do reflection exercise for the past year 2.    Write down reflections in a journal format 3.    Conduct team reflection sessions using stickies on the wall 4.    Implement daily 5-minute reflection practice at the end of each workday 5.    Share reflections with Manny via email at [email protected]  

Manny introduces the Targeted Lead Generation Podcast, focusing on Sales, Finance, and Leadership (SFL) strategies to enhance workplace culture and drive success. He discusses the concept of servant leadership, a powerful approach reshaping organizations, and mentions the show's host and sponsor, the Servant Leadership Company. Manny emphasizes the importance of improving employee satisfaction and retention in today's business world, highlighting servant leadership as a key strategy for achieving these goals. Servant Leadership Principles and Empathy Manny discussed the principles of servant leadership, emphasizing its focus on serving and supporting team members rather than maintaining authoritative control. He highlighted empathy as a key characteristic, explaining how active listening and understanding team perspectives build trust and foster a positive work environment. Manny also stressed the importance of providing necessary resources and support to help team members succeed, noting that effective leadership involves equipping employees with the tools they need to exceed expectations. Servant Leadership and Team Success Manny shared a story about a CEO who refused to invest in a new CRM system despite knowing it was necessary, resulting in the loss of an entire new sales team. He emphasized that servant leadership requires providing the right tools to employees and building a collaborative community, where individual success is tied to team success. Manny also stressed the importance of having a clear and achievable vision that aligns team goals and motivates employees to work towards a shared purpose. Servant Leadership Principles and Training Manny discussed the principles of servant leadership, emphasizing the importance of walking the talk and focusing on team success rather than individual achievements. He highlighted the benefits of adopting a servant leadership approach, such as improved team cohesion and organizational success. Manny also introduced and promoted Covert Leadership Training, an organization that offers resources and training in servant leadership, encouraging attendees to visit their website for further information. Servant Leadership: Benefits and Examples Manny discussed the benefits of servant leadership, emphasizing its ability to enhance employee engagement, increase productivity, and foster a strong organizational culture. He used examples from Southwest Airlines, TD Industries, and The Container Store to illustrate how empowering employees with both responsibility and authority leads to higher job satisfaction, lower turnover rates, and revenue growth. Manny stressed the importance of open communication and taking action based on employee feedback to drive productivity and maintain a culture where leaders and employees work collaboratively towards common goals. Servant Leadership Principles Overview Manny discussed the principles of servant leadership, emphasizing the importance of empowering teams, encouraging decision-making at all levels, fostering open communication, investing in development, and cultivating a people-first culture. He highlighted the need for leaders to demonstrate trust and create a safe space for employees to voice concerns. Manny also mentioned his book "Make a Decision, Will You Please?" and encouraged listeners to learn more about servant leadership by connecting with him at covertleadershiptraining.com or contacting him directly. Connect with Convert Leadership training and set up a discovery call today. https://calendly.com/mannynowakcalendar/covert-leadership-30-minute-introduction Manny Nowak 856 364 5867 [email protected] www.coachmanny.com

Manny discussed the critical importance of cash flow management for small and mid-sized businesses, emphasizing that even profitable businesses can fail due to insufficient cash. He shared personal experiences and practical tips, including tracking every dollar, creating cash flow forecasts, maintaining an emergency fund, accelerating receivables, and negotiating payment terms with suppliers. Manny stressed the need for proactive cash flow management and encouraged listeners to review their financial situations regularly, highlighting the significance of cash flow as a business's lifeblood.   Coach Manny Nowak //http:coachmanny.com [email protected]

Manny introduced a new podcast series focused on leadership challenges, particularly leading for business success. The series explored how companies must adapt to technological advances and shifting economies while managing changing customer expectations in today's volatile market environment. Manny discussed the benefits of servant leadership, including building trust, fostering collaboration, and supporting employee well-being, while encouraging listeners to share their experiences and learn more about Covert Leadership Training. Servant Leadership in Rapid Change Manny introduces a new podcast series on leadership challenges, focusing on leading through rapid change and uncertainty. He discusses the importance of servant leadership in navigating these challenges and encourages listeners to share the podcast and provide feedback on their listening platform. Manny aims to provide tools for business growth and success through this series. Adapting to Rapid Change Leadership Manny discussed the constant nature of change in today's fast-paced world, emphasizing the need for companies to adapt swiftly to technology advances and shifting economies. He highlighted how customer expectations change rapidly, making the ability to lead effectively through uncertainty and rapid change a significant challenge for organizations. Manny concluded that adopting a servant leadership approach enables businesses not only to survive but to thrive amidst chaos. Business Resilience in Volatile Markets Manny discussed the challenges businesses face in today's volatile market environment, characterized by rapid changes, emerging competitors, and technological innovations. He emphasized the pressure on leaders to make quick decisions, implement changes, and keep their teams motivated and aligned, even when the desired outcomes are unclear. Manny highlighted the opportunities available for businesses to adapt and thrive in this dynamic landscape. Servant Leadership in Uncertain Times Manny discussed the challenges of traditional authoritative leadership in times of uncertainty and emphasized the importance of servant leadership, which prioritizes serving teams and fostering trust, empathy, and collaboration. He highlighted the benefits of servant leadership, including building trust and psychological safety, fostering collaboration and shared purpose, cultivating adaptability and resilience, supporting employee well-being and engagement, and making ethical decisions. Manny provided examples to illustrate these points, emphasizing the need for leaders to create safe spaces for innovation, encourage learning from failures, prioritize employee health, and make decisions that serve the greater good. Servant Leadership in Turbulent Times Manny discussed the importance of servant leadership in navigating uncertain times, emphasizing qualities like resilience, agility, and trust. He highlighted that servant leaders prioritize service, empathy, collaboration, and ethical decision-making, which can inspire teams to thrive even in turbulent business environments. Manny encouraged listeners to learn more about Covert Leadership Training and to consider sharing their servant leadership experiences on the podcast to help others become effective leaders.   Coach Manny Nowak [email protected] [email protected] http://coachmanny.com/ https://covertleadershiptraining.com/ 856 364 5867          

Manny introduces his podcast on targeted lead generation and discusses the potential of artificial intelligence to enhance sales processes, noting a reported 50% increase in closing rates for companies using AI. He emphasizes that AI is not just for large tech companies but can be a game-changer for businesses of all sizes, particularly small businesses. Manny invites listeners with AI-related products or tools for sales to connect with him for potential podcast appearances.   AI Tools for Sales Efficiency Manny explained that AI refers to software capable of analyzing data, spotting patterns, and automating tasks, essentially acting as a smart assistant to help sales professionals focus on building relationships. He shared his experience of reducing the number of assistants needed from three to one by leveraging AI tools. Manny emphasized that the goal of AI implementation is to enhance efficiency rather than replace human workers, particularly benefiting small business owners. AI-Driven Sales Process Transformation Manny discussed how AI transforms the sales process, focusing on lead prioritization and scoring, which helps identify prospects most likely to convert. He emphasized the ability of AI to personalize outreach through hyper-personalized communication and improve response rates. Manny also highlighted AI's role in predictive analysis and sales forecasting, enabling better trend prediction and deal closure likelihood. AI-Powered Sales Pipeline Optimization Manny discussed the importance of effective resource allocation and pipeline prioritization for sales teams, emphasizing the use of AI-powered chatbots to handle inquiries and schedule meetings 24/7. He highlighted the benefits of media engagement to keep prospects warm and mentioned that his company, Covert Leadership Training, focuses on servant leadership and AI technology. Manny encouraged listeners to visit CovertLeadershipTraining.com to learn more about their services. AI-Driven Sales Behavior Analysis Manny discussed the importance of behavior analysis in sales, highlighting how AI can review social media and online activity to understand customer needs and tailor pitches accordingly. He shared his experience working on a 10-article series with AI to address leadership issues and improve the sales process. Manny also mentioned the benefits of automating routine tasks to enhance efficiency. AI's Impact on Sales Automation Manny discussed how AI will transform work by automating manual tasks like data entry and reporting, while creating new job opportunities. He emphasized that AI can help sales professionals by automating follow-up messages and managing long sales cycles, using tools to track and nurture prospects effectively. AI in Sales: Enhancing Human Connection Manny discussed the role of AI in sales, emphasizing that it should be used as a tool to enhance human connection rather than replace it. He suggested starting with affordable tools like chatbots, customer analytical platforms, and email automation solutions. Manny stressed that AI can help salespeople serve prospects better, nurture relationships, and ultimately close more deals in today's competitive landscape. AI Tool Evaluation Guidance Manny advised listeners to carefully evaluate AI tools for their business needs, warning against rushing into decisions due to the overwhelming number of options available. He emphasized the importance of finding the right tool or process that aligns with business goals, and encouraged listeners to reach out if they need further assistance. Manny concluded by reiterating his contact information and expressing his willingness to help with any questions or concerns.

Podcast Summary and Notes Quick recap Manny hosted a Targeted Lead Generation Podcast episode focused on effective networking strategies at events, emphasizing the importance of building meaningful relationships over time and setting clear goals before attending. He provided detailed advice on preparation, including having a tailored elevator pitch, professional attire, and the importance of active listening and thoughtful questioning during conversations. Manny stressed the significance of follow-up after events and shared personal stories to illustrate the value of genuine engagement and personalized connections in building successful relationships. Building Meaningful Networking Relationships Manny hosted the Targeted Lead Generation Podcast episode on effective networking events, emphasizing the importance of building meaningful relationships over time. He shared that while some business deals can result from quick conversations, others may take years to develop, highlighting the significance of maintaining and nurturing relationships. Manny encouraged attendees to approach networking events with the goal of building new connections, strengthening existing ones, and reigniting past relationships. Networking Strategies for Event Success Manny discussed strategies for effective networking at events, emphasizing the importance of setting clear goals before attending. He advised researching attendees and hosts to identify potential connections and opportunities. Manny highlighted the significance of trade shows as networking platforms and encouraged participants to utilize various online tools to gather information about event attendees. Networking Event Preparation Tips Manny advised on networking event preparation, emphasizing the importance of having a tailored and engaging elevator pitch, as well as bringing up-to-date business cards or sharing contact information digitally. He warned against going unprepared or being overly pushy, suggesting a balance between being sales-focused and approachable. Manny also highlighted the need to follow up after the event to capitalize on connections made. Networking Etiquette and Connection Strategies Manny advised attendees to arrive early at events to meet key people and stay late for networking opportunities. He emphasized the importance of professional and comfortable attire, noting a shift in dress norms since the pandemic. Manny also suggested using natural conversation starters like asking about attendees' experiences at the event and focusing on active listening to build connections. Active Listening for Meaningful Connections Manny discussed the importance of active listening and asking thoughtful questions during networking events, emphasizing the value of understanding others' perspectives rather than focusing solely on self-promotion. He referenced his book "Stop, Listen, Lead" as a resource for applying these principles effectively. Manny encouraged attendees to engage in meaningful conversations by inquiring about challenges, motivations, and experiences, which can lead to more meaningful connections. Essential Networking Etiquette Tips Manny shared networking tips, emphasizing the importance of asking questions, finding common ground, and being authentic. He advised against dominating conversations, interrupting others, and being overly sales-focused. Manny also stressed the importance of exchanging contact information and avoiding distractions like checking phones during networking events. He concluded by reminding listeners to follow up on promises made during conversations. Effective Meeting Follow-Up Strategies Manny emphasized the importance of setting meetings promptly after conversations to ensure follow-ups are scheduled. He shared strategies for making a memorable impression, including being authentic and offering value, such as sharing resources or introducing relevant contacts. Manny encouraged attendees to take action by scheduling meetings immediately and to focus on creating meaningful connections. Networking Follow-ups: Stories and Insights Manny shared two networking stories to illustrate the importance of follow-up and relationship building. In the first story, he recounted how a random phone call from a CEO led to a coaching opportunity, emphasizing the value of being available and approachable. In the second story, Manny described meeting a woman who had hundreds of unprocessed business cards, highlighting the importance of making connections and following up after networking events. Effective Networking and Relationship Building Manny discussed strategies for networking and building relationships, emphasizing the importance of genuine engagement and personalized follow-ups. He advised against ghosting contacts and using generic email templates, instead suggesting a follow-up within 24-48 hours after meeting someone, connecting on social media, and proposing a coffee meeting if the relationship seems promising. Manny stressed that relationships take time to develop and encouraged listeners to be consistent and patient in their networking efforts. Authentic Networking Strategies Manny emphasized the importance of building authentic relationships at networking events rather than focusing solely on exchanging business cards. He encouraged listeners to implement the discussed tips at upcoming events and offered various ways to connect with him, including email, social media, and text. Manny also announced the return of his podcast and invited participants to share their successes or questions, expressing his willingness to help them improve their networking skills. [email protected] www.coachmanny.com www.covertleadershiptraining.com www.mannynowak.com 856 364 5867

Targeted Lead Generation, where we help small business owners and entrepreneurs unlock their full sales potential. Today's focus is on one of the most critical aspects of sales success: prospecting. Because if you don't prospect, you don't eat—plain and simple.  Five Key Steps to Successful Prospecting   Coach Manny Nowak [email protected] http://coachmanny.com      

Welcome back it is great to be here again.  Today we are doing an introduction to the 3 most critical piece of any successful business. Sales - nothing starts until. you have a sale. Finance - if you run out of cash you might as well close the doors. Leadership - no one goes on long and successful without it.   Thanks for being here, I know you all missed me. Need more: coachmanny.com [email protected]    

How well you know who wants to buy your product has a great to do with you well your sales go. The more you know, the more you can close the deal. Join me as I interview one of the best at developing your buyer Prosona - Jim Kraus