$how Them the Money !

The first quarter of 2011 has brought quite an array of economic and political events. From Wisconsin, to Libya to Japan. It’s been a lot to absorb. Meanwhile, while we try to process all of this external news, most of us are also sorting out what it all means for our own professional paths.

For example, when journalist Elaine Pofeldt interviewed me for this article, “Step Up Your Career This Year”, she asked where seasoned professionals should focus if they want to get ahead this year.

Ironically, the crux of my response paralleled the name of the magazine: Money !

Let’s take some inspiration from the golden 2011 on the cover. We may be in a period of economic recovery, but there is also an emotional recovery in progress.

This is the time to shine, not to shy away from the spotlight. Whether in day-to-day meetings or a broader timeframe, your best strategy is to overtly demonstrate how you add to the bottom line, or the top line, depending on your role.

Am I suggesting your professional worth is measured solely in monetary terms? Absolutely not. But as of yet, there is still no balance sheet representation of meaningful employee development, inventive marketing campaigns, or customer service finesse.

Whether you market international performing stars, run operations for an investment bank, or lead strategic IT projects you need to both align your work with successful results and make sure to communicate about it along the way.

Three tips:

  1. Rather than announcing to your boss how passionate you are about getting promoted, first find out what he or she needs to achieve to be promoted.
    Believe me, you aren’t the only one with this burning issue on your mind. I’m not suggesting you put yourself second in importance - quite the opposite. It’s simply a practical way to start with your end game, rather than guessing what will be valued and rewarded.
  2. Brainstorm a way to tie your priorities and performance to win-win results.
    Maybe your boss’s highest priority is hitting particular regional sales targets and you want tuition reimbursement for an Executive MBA. In that case, it’s probably the right time to put extra effort into expanding your network, reconnecting with classmates, or meeting alumni in target locations. If the hot button is cost reduction, then actively challenge the status quo. Re-evaluate service provider contracts, solicit alternative options for your highest-expense items or bring in an outside consultant to review your operations, technology and organization. I once helped a mail order business increase cash flow 10%, with a procedural change that literally cost under $1200 and took less than two weeks to implement. It’s time to pick the low-hanging fruit, plus what may be available on the higher branches!
  3. Report in with brief, but frequent written updates on your initiatives – biweekly or monthly.
    Include data, even if it is only a measure of the percentage of a project completed. Invite input and suggest additional ideas as they arise. Even if you see or email your boss daily, these bulletins will provide positive news he or she can easily share with others, and increase the sense of collaboration between you. You will likely get more attention and direction than you have in years. This has worked tremendously well for my clients across industries, up and down organizational levels.

There is nothing radical here, I know. More than anything else, it’s about changing your focus, backing up your hard work with easily understandable numbers and taking ownership for sharing ongoing “positive press” for your achievements. As an added bonus: you’ll not only benefit yourself, but your team and clients too.

If you have questions about how this approach applies to your specific role, please contact me, Stefanie Smith Executive Consultant and Coach.

 
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