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The Work of Management
with Matthew Ferrara
matthewferrara.com
The Work of Management - (c) Matthew Ferrara. All Rights Reserved www,matthewferrara.com
Friday, October 31, 14

How much do you cost per hour?

Are you doing work 鈥渨orth鈥� that?

A leader must ask,
鈥淲hat must I do?鈥�
not
鈥淲hat do I want to do?鈥�
- Peter Drucker

A set of specific habits
A starter or a stopper
A unique factor of production
The Leader is....

So, what kind of work should I be doing as a leader?

Leaders practice behaviors that unlock the potential of others,
organizations, and themselves.

And what are the 鈥渞easons鈥� this work has
to be done?

Effective Executives concentrate on the
few areas where superior performance
creates superior outcomes.

Managing for Potential
Talent Needs Management
Customers Respond to Well Managed
Companies
Management as Mentoring
Ensures 鈥済ood鈥� work in society

What kinds of work?

The Key Behaviors

Set and maintain priorities
Engineer the Experience
Get Big Data
Allocate Resources to Opportunities
Organize the Work

Write down your three key
priorities for the next year.
Set and Maintain Priorities

Set and maintain priorities
Stick to the mission, vision
Navigate by outcomes
Keep others focused
Staying On Course

Managers must constantly MYOB.

Write down three things that get you off track
regularly.

Gottaminnits
Your Inbox
Competitor鈥檚 Press Release
...

Conduct a time study 2x year

Find out where your time actually goes.
Consolidate your time.
Recognize time cannot be stored.

To improve time use, record it.
Ask: What if this were not done at all?
Ask: Who else might be suited to it?
Reduce who can put 鈥渄emands鈥� upon your
time.

Learn to say NO.

LeadeNSrsao y wisihn Gog os Neotod limits
encourage others do the same
No maintains momentum
No advocates for the customer
(outcomes)

If everything is a priority, then nothing is a
priority.

No provides you with time to do what is most
important:
And if a day goes by without my doing
something related to photography, it's as
though I've neglected something essential to
my existence, as though I had forgotten to
wake up.
-Richard Avedon, 1970

Engineer the Experience

Think of a service moment that stood out
in your mind....

Now tell me what their company鈥檚 logo is.

What stands out in a person鈥檚 mind is how you
made them feel, not how you looked

Effective Executives do not
operate in the office.
Inside an organization
there are only cost centers.
All results happen on the outside.

How do you know what鈥檚 happening in your
retail sales moments now?

A key role of management is to see the work in
action. Make it a priority to go on a listing
presentation, listen to a phone call, incubate a
lead, and do an open house ....... with one of
your salespeople every week.

How do we make decisions about
training
recruiting
technology
marketing
pricing
if we鈥檙e not evaluating them first-hand in
action with consumers?

As you come back from your field experiences
you will have seen
what tools your agents used
what words your agents used
what techniques your agents used
what values your agents offered

Innovate the processes by which people have
emotional experiences with our company.
Don鈥檛 just change the tools. Change the
process.

Pick one thing that could be process-innovated
and discuss how you might make it 鈥渟tand out鈥�
Greetings
Meetings
Discussions
Decisions
Partings

The Closing 鈥淜ey鈥� Ceremony

Here comes Big Data.

In addition to seeing opportunities to improve
the work, you鈥檒l also see opportunities to do
new work.

When you see the work in action,
you can do something special:
Allocate resources to
opportunities, not problems
Only pursuing opportunities
creates results

This isn鈥檛 an ordinary way of thinking.

We are obsessed with 鈥渨hat鈥檚 wrong.鈥�
The AMA.

The rapid rise of the tablet computer was
not created as a 鈥渟olution鈥� to the declining
utility of the computer.

What opportunities happened in the last
five years that you were not positioned to
capitalize on in time?

Rentals
Multi-family housing construction
Foreign capital investment
Mergers and Acquisitions

Some of the opportunities were waiting right
there on the side of the road...

We spend billions of dollars trying to attract
someone we don鈥檛 know, and pennies trying to
be of value to someone we do.

Demo/Psychographics
+
Social Intelligence
+
Leads Data (Consumer Behavior)
=
Predictive CRM

What data do you read regularly?

Demographics is knowing people鈥檚 age, race,
marriage status, income, education, etc.
Psychographics is knowing they like
chocolate.

Would you like fries with that change of life?

Sources of psychographic data
Agent/Customer 360s
Public (social) data
Observation

Activate the data
Assessment and application in every office meeting
Incorporate into market(ing) intelligence
Advise agents, clients before opportunities arise

What kinds of things could
Your Leads Management Data tell you about
opportunities?

Follow the data to build opportunities into your
strategic plan, agent coaching, resource
allocation, technology plan, communications
themes, etc., etc., etc.

Organize the Work

Who organizes the work
Is this effective?
today?
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Leaders create organizations of strengths,
by organizing the work to play to people鈥檚
strengths.

Clear obstacles to
peak performance
Great leaders....

This is the importance of simple systems
and clear standards.

Which obstacles could you eliminate
tomorrow to create an immediate
improvement in performance?
Which system, requirement or process
could you streamline to create an
immediate improvement in performance

A process-driven organization enables
people of every talent level to be
successful.

Smart processes give people time and
energy to be more creative, not less.

Of course, you could go one step further...

What鈥檚 the most productive unit in your
company look like?

A team.

Why?

The Great Advantage of Capitalism over
Mercantalism

82% of people said they didn鈥檛 know what they
were supposed to be contributing at work.
83% said what they were asked to do was not
the thing they were best at doing.
- Gallup

Strengths Based Organizations
Success in the Knowledge Economy comes from those who know
themselves - their strengths, their values, and
how they best perform. - Peter Drucker

The Love/Hate Relationship
It鈥檚 time to rethink our organizations to create maximum benefits
from teams.

Because Gen Y prefers to work on teams.

Discuss ways in which your company could
evolve to 鈥渕aximize鈥� the division of labor/
strengths-based model.

Idea 1:
Company does (marketing/prospecting/closing)
Salesforce (shows/negotiates/closing)

Idea 2:
Agent 1 is a great prospector but a weak presenter.
Agent 2 is a great presenter but a bad closer
Agent 3 is a great negotiator and closer.

Idea 3:
You build a division that provides 鈥渂usiness
services鈥� to teams.
Management. HR. Training. Tech. Planning.
Assessment. Finances.

Now, if we were really consistent, we could take it
to even one more level....

Apply the same model to management.

The 鈥渏ack of all trades鈥� model cannot keep up
with the demands of the modern marketplace.

Models currently being used:
Specific Major Roles
鈥淭ransaction Troubleshooter鈥�
鈥淩ecruiter / Retainer鈥�
鈥淐oach鈥�
鈥淥ffice Meetings / Trainer鈥�
鈥淓xecutive Manager鈥�
鈥淭ransaction Manager鈥�

matthewferrara.com

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The Work of Management

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