Sunday, December 8, 2013

Create the Magic For Every Stakeholder

Create The Magic For Every Stakeholder

Everything you do is a value proposition. 

The simple truth is, every decision you make is an attempt to lean the sum-total of the scales of value in your favor. You want to realize a net-positive value. This concept applies to you whether you’re an individual or the CEO of a business. As a CEO, the ability to sustain success depends on your ability to create mutually beneficial relationships between all of your stakeholders.

So, how do you create mutually beneficial relationships with all of your stakeholders if everyone is always trying to tip the scales in their own favor? The key is to understand the nature of mutually beneficial relationships and set the conditions for creating them with each type of stakeholder.

The magic of any great relationship is that it creates a net-positive value for everyone involved.

When this occurs, the relationship is mutually beneficial. No losers. All winners.

Every CEO must understand how to create a mutually beneficial relationship with all key organizational stakeholders. The answers to how to accomplish that can only come from asking the right questions.:

  • Employees- People will be great at their jobs when what they value aligns with what Leaders want them to do. It’s about the value they perceive they receive in return for their efforts.
    • Do you understand the value your employees perceive in the Compensation & Benefits they receive in relation to the effort they give?
    • Do you understand how key employees find satisfaction in their work?
    • Do you understand how employees perceive their leadership sets them up for success?
    • Do you understand how satisfied your employees are with their relationships with the people they work with:
      • Leadership?
      • Co-Workers?
      • Customers?
    • Do you understand how to find the best fit for the job and the culture you want when you hire new employees?
(c) Copyright- Thomas Eakin, 2013

  • Leaders- People will be great leaders when they can provide the purpose, direction and behavioral drivers that are in alignment with what the people they want to lead value. 
    • Do the leaders in your organization personify the values you need them to in order for them to create a net-positive value proposition for your employees?
    • Do the leaders in your organization make decisions in alignment with organizations Core Values by placing the priority on the principles that will result in maximizing the net-value in every situation?

  • Vendors- People will be great at giving you what you want, when you want it, in the quantity you asked for and at the price you are willing to pay when your organization can satisfy their needs.
    • Do you understand what the value of the products and services they are providing to your organization?
    • Do you understand what net-negative conditions your organization creates for its key vendors?
    • Do you understand how your organization can help key vendors find solutions that create value for you and them?

  • Customers- People will be great customers when what they value is in alignment with what you want them to do. You want them to buy from you.
    • How do you make sure they perceive the net-positive value required to compel them to buy from you?
    • Do you know if they perceive a net-positive value from the products and services you provide?
    • Do you know where you’re exceeding expectations?
    • Do you know where you’re not realizing the value proposition for your customers?

  • Organizations- Groups of people can create a mutually beneficial net-positive value when they can consistently translate the core values and principles upon which the organizational value proposition is founded throughout the processes within which products and/or services are created and delivered.

Are you creating the magic?

Is your organization holding up your end of the value proposition for all of your stakeholders? 

In order to realize a net-positive value for yourself, you need to create a net-positive value for everyone else, your success depends on it.

  • Do you understand where the greatest risks exist in each of the relationships your organization needs to maintain in order to sustain success?
  • Are your strategies purposefully designed to mitigate those risks?

If you want to get the right answers, you need to ask the right questions. BoomLife has the Success Engineering tools to help you do both:
  • Values-Based Seminars & Workshops.
  • Coaching.
  • Organizational Development Consulting.
  • Powerful Surveys- Designed to ask the right questions.
    • Leaders
    • Employees
    • Customers
    • Vendors

ABOUT THE AUTHOR: Tom Eakin is the author of Finding Success and the Success Engineer at BoomLife. LEARN MORE ABOUT TOM...