The Business Value of Trust

Trust is one of the primary essentials to the success of any team.

Outstanding teams will inevitably deliver exceptional performance when the element of trust is present and strong within the culture. Trust is, of course, the belief that those who you depend on in your team will meet your expectations. When trust is present, your team members will work effectively together, share information freely, share challenges and mistakes, admit lack of knowledge, and commit themselves to the success of the team. It’s easier to build trust when working in the same physical environment because you will be exposed to many visual clues. Researchers say that people often take less than four minutes to make a trust judgment based on someone’s voice, body language, and words. However, in today’s business arena, there are times where a team is functioning remotely and developing trust can never be forgotten or pushed to the wayside.

When people fail to work well together, it is often because there is no trust. When there is no trust, there is fear and suspicion, and these are a major deterrent to innovation and results. Without trust, the best and brightest ideas never surface. Even worse, when there is fear and suspicion, commitment goes away. Commitment and fear are almost mutually exclusive.

Trust can never be mandated, as it must always be earned. There must be honest, complete, and open communication delivered in a way that fosters mutual respect. Your employees must feel free to ask questions with the confidence they will receive support and the necessary information. Each employee must also feel free to openly express his or her thoughts and feelings. There can be no hidden agendas or clandestine activities. An effective leader must become an expert at ensuring that everyone is kept informed and feels that they are in on things.

In his book, Building Productive Teams, Glenn Varney introduces what he calls the Trust Cycle as a means of showing how leadership can prevent cynicism and establish trust. The Trust Cycle shows “Trust is developed from adequate to total information so that the individual can influence or make decisions, which builds more trust.”

There are many factors and behaviors that build trust, and even though developing trust is a very individual experience, research has shown there are some common factors which help create an environment of trust. Trust can be enhanced when a leader focuses on building strong relationships with and among the team. Review the following categories and concepts as it relates to your department, team, or business unit. What can you do to build stronger relationship and deeper trust within your team? How will it impact the overall results?

Results: All team members are focused on and produce results, exceed customers expectations, meet delivery times, and measurable results are documented.

Integrity: Team members can be trusted to mean what they say when they say it, show commitment to the team, do what they say they will do, communication is essential, and behavior is in the best interest of the team.

Change: Team members are willing to change and adapt, open to other view points, and are flexible.

Empathy: Putting yourself in a team member’s shoes and showing care and concern are culturally sensitive, and sensitive to the impact of all decisions.

Trust is difficult to gain, but easily lost. Building trust requires consistent and ongoing commitment from management. It requires executive sponsorship in the form of authentic leadership. There is no room for missteps.

The results are worth it.

The Business Value of Trust

Good Listeners Are Hard to Find

Have you had a conversation recently with someone whose attention appeared to be somewhere else and not really listening to you? Did you ever have a conversation with someone where you really felt like the person you were talking with was engaged in the conversation and was really interested in what you were saying? These are two very different experiences aren’t they?
 
We know when we are being paid attention to. The other person’s body language, eye contact, and tone of voice are focused and inviting and surrounding distractions seem irrelevant. Every one of us can remember a meaningful conversation and what it felt like to “be heard.” Being heard is something everyone thrives on. We all want to be heard, and we all want our issues to be validated. This is especially so for members of your team or staff. This is double-especially so for customers.
 

Emails, voice mails, text messages, and the limit of 140 characters on LinkedIn, Facebook, and Twitter are the very common forms of today’s communication. Technology has given us the ability to share ideas with anyone, at anytime, and anywhere in the world. Our global environment requires this technology to be successful, and it will foster continued innovation and efficiency.
 
However, the true essence of business is built around people and the future innovations that people can and will inspire. It seems these days that the technology we’re surrounded by exists for the purpose of inspiring communication and collaboration. Communication and collaboration is what usually needs to efficiency, innovation, and overall success.
 
While I am quick to admit that the advances to communications and the speed at which we can communicate are necessary, I also see that it often adds to our dysfunction. Our society has become inundated by communication overload, and so we take departures from good manners in trying to absorb and address it all.
 
Take a step back and evaluate your listening ability and techniques. Do any of the following apply to you?
• Check and answer email while talking on the phone (personally or professionally).

• Respond to texts while in a meeting or at your child’s soccer game.

• Watch your children IM or text while doing homework or at the dinner table.

• Spend time updating your Facebook wall instead of reaching out to someone meaningful and having a real conversation.

• Engage in a conversation with an employee, while you shuffle papers and respond to a receptionist call that Mr. Smith is on line two.

If we are honest with ourselves, we are all guilty of one if not many of these listening infractions. We get caught up in the crazy and scattered pace of life. Let’s take a step back and remind ourselves that good listening is essential to effective communication, and here are some simple habits that can improve our listening ability:

Take time to listen. Stop, take a deep breath to clear your mind, and really listen to an employee sharing ideas or to how your son’s day at school unfolded.

Be attentive. Put the world on hold and pay 100% attention to the person talking with you. They believe what they have to say is important and so should you.

Listen with an open mind. Don’t be judgmental. Listen to everything the person is communicating and before judging the value of the information, ask questions to better understand the scope and depth.

Listen for feelings. People repeat those things that are important to them. Listen to what is said but also to how it is said. Feelings often speak much louder than words.

Listen for retention. While listening, summarize the highlights of the conversation in your mind so you can play it back to the person with whom you are talking. It will help you implement the important details later, and it will send the important message that you were really listening.

Finally, listen to others like you want to be listened to … you will be astounded as to how much more you will get accomplished and learn if you stop and really listen. And, you will be amazed how much you miss if you don’t!


-Sebastian Font, VP Executive Coaching

Good Listeners Are Hard to Find

Holding on to Player Loyalty

Today’s gaming industry is about the overall entertainment experience. The key to increasing your customer base of players has nothing to do with price or product. It’s more about emotional connection. In the past measuring customer loyalty was a challenge mostly because casinos often didn’t understand loyalty. We now know that loyalty is tied to consistent and positive points of connection. Because emotions are perceived as soft, messy, and hard to deal with, emotions make many casino operators uncomfortable. Gaming organizations can’t ignore this critical ingredient anymore because the emotional connection with a customer is the basis for creating and building player relationships.

How can we measure the emotional effect on loyalty? The Gallup Organization suggests using measurements that assess things such as overall brand loyalty, confidence, integrity, pride and passion for the brand. The brand can be the casino’s name, its products or services, its
people, its policies, etc. Although many of these areas refer to the gaming product or service, connecting with a service provider has a huge impact on the customer’s perception of the brand.

If you want to find out who your loyal customers are, find out how likely they are to recommend your gaming establishment to their friends and family. Remember, one of the key measurements of loyal customers is their desire to recommend your casino. There is a direct and strategic correlation between an organization’s revenue growth and its customer loyalty score.

How does your casino measure customer loyalty score?


-Sebastian Font, VP Executive Coaching

Holding on to Player Loyalty

Building Successful Teams

Everyone in an organization plays an important role in its overall performance. From mail room to board room, every individual must contribute to success.

It’s no longer enough to be good, you must be exceptional. It is no longer enough to have satisfied customers, you must seek to develop a loyal customer base. It’s no longer enough to maintain. You must be aggressive, responsive, and quick. Your challenge is getting everyone on your team or in your department committed and focused on achieving organizational success. As an effective team leader, your role is to build the best, strongest, most productive team possible. One that can meet and overcome the adversity that surrounds it. Your results, or lack thereof, will be a direct function of the cohesiveness of your team.

Creating a winning team begins with creating a culture in which your employees are encouraged to challenge, to question, to create, and to innovate. Surround yourself with the best people the organization has to offer. Don’t limit yourself by focusing only on people with seniority or rank. Bring people into the team as they are needed based upon their expertise or abilities. Beware of hiring your friends or drinking buddies, as this could be a recipe for disaster.

The ideal team should be led by different types of mentalities, so you get a blend of perspectives. For example, some team members will naturally focus on people issues (feelers), while others will focus on short term tasks and objectives (doers), and still others focus on strategy, vision, and long term planning (thinkers).

Create a culture where people are encouraged to be their best and perform their best. As the goals or projects dictate, you may want to involve multiple team members in different aspects of the project as needed. Furthermore, it may not always be necessary to involve everyone from beginning to end. Always be sure; however, the goals are specific and that they are aligned with the vision, values, and strategies of the organization as defined by management. Alignment must also occur between the department’s activities and its outcomes. If continuous improvement is to occur, your team needs to focus on continuous improvement in all areas. Therefore, measurements and expectations must be developed and reviewed regularly. Get team members involved and delegate ownership of processes and challenges which rightfully belong to them.

The momentum of the team keeps a project going so the probability of success is enhanced. A team’s collective power is much greater than that of any one individual. A sound team culture means the whole effort exceeds the sum of its parts!

Building Successful Teams

Accomplishing Goals 101

“All things are created twice. There is a mental or first creation, and a physical or second creation of all things. You have to make sure that the blueprint, the first creation, is really what you want, that you have thought everything through, Then you put it into brick and mortar. Each day you go to the construction shed and pull out the blueprint to get marching orders for the day. You begin with the end in mind.”
– Stephen R. Covey The 7 Habits of Highly Effective People


I am constantly amazed at how we as a society approach goals. We all know how important they are, but too few of us really create them, let alone follow through and accomplish them. Think of how New Year’s resolutions have almost become a joke for us. It is almost always assumed that most of those goals will go unheeded.

Part of the problem is that the vast majority of us have never been formally trained on how to effectively plan and achieve our goals. It is not taught to students in school, and most certainly not taught to the workforce. In fact, most individuals are probably unaware that there are systematic approaches available to create achievable goals. A good goals creation process includes a framework that helps develop a clear vision of the end results, and the effective mechanics of accomplishing that goal. Effective mechanics includes identifying obstacles and action steps.

Developing Blue Prints
Goal accomplishment begins by establishing a relationship between where you are now and where you want to go. Begin this process with a personal and professional inventory or assessment that will help you identify your current dreams and aspirations. Define what do you want to accomplish, achieve, own, do, and be? Be careful not to let your practical mind limit your dreams and ideas. Grant yourself permission to think big and out of the box.

In addition to allowing yourself to desire and dream, take a moment to assess where you are mentally, socially, physically, financially, in regards to your family as well as with your ethics. We usually have a tendency to evaluate, focus, and measure effectiveness only in our professional and business lives. The common measurement is financial success. However, what we are all really after is balance. We do want financial success, but we also want the time to enjoy the benefits of that financial success. We want time with our friends and our family, and we don’t want to trade health for wealth.

Through the dreaming process we determine what we want to achieve, what
we want to do, and what we want to be. Next an evaluation or assessment process provides a clearer picture of our strengths and areas that we may choose to improve. The next step is to prioritize based on your dreams, evaluations, and assessments those specific items or goals that are most important to you now and that you want to take action on. This is the final step to providing the blueprint for your success.

As Covey indicates creating the brick and mortar is the second phase. Blueprints alone will not generate success. An architect can create a perfect blueprint, but without the appropriate building supplies and a contractor to do something with the supplies, the perfect house will never be built. The same fundamentals apply to goal accomplishment.

Bricks and Mortar
First, all goals need to be written down. Many people have goals but readily admit that they have not committed them to writing. Writing forces you to clarify your thinking and serves as a reminder of your objectives. Written goals will keep you on course in the midst of interruptions and distractions. Using a RAC Goal Planning Sheet© is an excellent mechanism to commit goals to writing and create a working document that will provide the focus necessary for success.

Working through the Goal Planning worksheet provokes the thought necessary to identify the obstacles, brainstorm all of the possible solutions, and then identify the required action steps needed to accomplish the goal. The components of the Goal Planning sheet are the bricks of your success. What provides the mortar to hold the bricks in place? All goals must have an overall target date with time specific action steps.

All the identified action steps need to be transferred to your personal planning system, which will provide a constant reminder of your plans and objectives. As you arrange your actions steps and timetable, remember that the goals are personal and you are in control. If for some reason you miss a designated date, examine the situation and find out why. There is always the possibility of unforeseen circumstances. You have the ability and authority to change a timeline. It is your blueprint.

However, those time sensitive dates will hold you accountable to yourself and others, which allows you to accomplish more sooner. Be careful to make sure that you are moving dates based on valid reasons and choices. Do not let fear, procrastination, and frustration (common, everyday occurrences) get in the way. The potential rewards of accomplishing your goal or the possible consequences of not accomplishing a goal should always be in the forefront of your mind to help you make the appropriate time sensitive decisions.

You are the architect of your life—personally and professionally. If you are dissatisfied with your results, take the initiative to change them. Take charge of your life and create the results that you’ve always dreamed of.

Accomplishing Goals 101

A Customer Driven Organization

The economy is down, and challenges are up. Casino operators are pressed to sustain revenue. The key to sustained revenue is creating a customer-centric gaming operation.

A customer-driven operation is one that has recognized that the typical organizational structure, with the CEO at the top, must be turned upside down to put the focus on the players and customers. The vision of the organization includes the customer, and the focus is no longer just on customer satisfaction. Today’s focus is on exceeding player expectations.

Becoming a customer driven gaming operation means everyone’s collective efforts being focused on the vision of the organization and the mission at hand. Exceeding customer expectations is no small feat. Leadership must ensure that this value is consistently communicated, which helps foster a team culture that is solidly entrenched in achievement, continuous improvement, and player focus. An organization will barely survive if customers are satisfied. But the casino will thrive if players are captivated by a memorable gaming experience.

Create customer loyalty by going the extra mile for your players. Look not to satisfy them, but to exceed their expectations. Do more than they expect and you will captivate them. A captivated player becomes a loyal customer full of word of mouth referrals. Word of mouth is still the most powerful form of advertising. Loyal customers tell their friends and family, who then also become loyal customers, who then tell others and so on and so on.

Consistency is very important toward creating customer loyalty. Many businesses are very accommodating with a new customer, but tend to get lazy as times goes on. Too often, casinos focus on getting new players, which costs five times as much as keeping an existing player. As a result, they fail to maintain their service standards with existing customers. Instead, they should be revitalizing and improving relationships with existing players. Research also shows that 70% of the customers that take their business elsewhere do so because of poor or rude service.

Nothing is more important to an on-going customer relationship than consistent focus toward exceeding expectations.

A Customer Driven Organization

Why Great Teams Create Competitive Advantage

Every business has the ability to create real competitive advantage. All you need are great teams.

I am asked constantly what it takes to create competitive advantage, and not just from clients. Just about everyone I come into contact with is looking for the elusive answer to the same question. This is especially true of casino operators these days. “How can I set myself apart from my competitors? How can I take business away from them?” The answer is easy: competitive advantage is created by people. Capable people put into strong teams. The internal behaviors of your organization are how companies set themselves apart from the competition. The attitudes, the level of commitment and motivation, and the resulting culture are what create competitive advantage.

I sometimes get blank stares when I give inquirers that answer. It’s not the answer casino operators expect, and often not the answer they want. The "people" answer involves culture, and rah-rah, and touchy-feely, and that makes many managers and casino operators uncomfortable. They would rather hear that the answer is buying into new technology, or re-arranging the gaming floor, or adding a particular game. But consider that your competitors all have the same access to technology, the same access to vendors, and the same access to facilities as you do. The only difference-maker is your people, and the team culture, and how well that culture is able to innovate and think creatively. It’s how deeply the teams are committed to push the product envelope, the quality envelope, and the customer-service envelope. It’s how well your teams are positioned to connect with the players and create the exceptional entertainment experience. 

Great teams create a great customer experience that connects to customers at an emotional level. Great teams create an experience that exceeds the expectations of the player. An entertainment experience that is consistently positive in every aspect is how the organization develops a relationship with the customer, a relationship based on credibility and trust. That relationship results in a loyal customer, one that recommends your casino to friends and family. The organization then sees customer growth, revenue growth, and long-term success.

The notion that team cultures provide competitive advantage is not new by any means. Many organizations have created exceptional success this way, such as Johnson and Johnson, Toyota, Disney, Google, McDonalds, and General Electric. These companies have achieved success by creating teams that performed at levels far beyond what is typical. This is also how small companies outgrow their competitors and become world class market leading companies. Every large Fortune 500 organization started out a small business, and created great teams that were committed to the vision and focused on creating excellence.

Are your teams committed and focused? What steps are you taking to build that team?

Why Great Teams Create Competitive Advantage

A Concept of Leadership

Throughout the years, volumes have been written which list and elaborate upon the characteristics of leaders. You need only check the literature on the subject to discover that there are many characteristics and combinations of characteristics as there are leaders. With all of their differences, however, leaders do have some fundamental similarities.

1. Successful leaders have mastered the art of self leadership and authenticity. Authenticity conveys genuine, reliable, trustworthy leadership.

2. Successful leaders have taken time to crystallize a personal vision of the future which will become the foundation or cornerstone for a shared vision. They are able to attract as well as inspire commitment among the people whose collective effort will make this vision a reality.

3. Successful leaders understand how to align and maximize resources to realize a vision. The leader’s role is to create alignment between vision, strategy, structure, processes, and people with focus on attracting and maintaining a loyal customer base.

As a leader, you must be many things to many people. First, you must have the ability to create a compelling vision. If your vision is to motivate people, it must take them to new levels of achievement. Then, you must be able to develop and implement the strategies that will guide people toward the vision, analyze the alternatives and possibilities, and set goals that will drive the organization to sustained success. To do this will require that you are able to function successfully in several areas. The first is your role as a visionary.

Leaders who are able to involve people in realizing a compelling vision provide a beacon for the future and a standard of excellence. Vision plays an important role in developing a winning organization. A compelling vision can play an important role in developing a winning organization. A compelling vision can motivate and empower everyone in an organization to seek higher levels of performance and achievement. People want to do a good job because realizing the vision is important to them. A compelling vision is inspiring and it is energizing. It provides an image of a better future that causes people to drive themselves to higher levels of achievement.

In the final analysis, you can’t really force people to be motivated. You can only create an environment in which people are motivated. A vision will release creative energies to successfully attain the desired results. It provides a reason for change and exploring possible uncharted waters with enthusiasm. It gives meaning to work and it encourages innovation. Individuals recognize the importance of their personal contribution to the overall whole. Vision helps everyone realize that their best interests are served by the success of the entire organization.

Vision alone is not enough however. Look for a future post on the Leader as a Coach.

A Concept of Leadership