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Burn The Business Plan: Write a Book Instead

Burn The Business Plan: Write a Book Instead
Book

Writing is a process that distills thought. Corporate innovators are often asked to prepare detailed plans. Companies employ a variety of planning tools and they can be tremendous aids in working through the necessary thought processes. Every lone inventor seeking funding who has approached professional finance people to get a project financed is aware that he or she is expected to come with a written business plan. The thought process that goes into the writing is more important than the document itself. The fancy business plan with all its detailed financial projections becomes useless about five minutes after the business gets going, assuming it was any good to begin with. Things change and unless the plan is regularly rewritten or revised, it is very unlikely to match reality for long. It would be like having a football coach writing a detailed set of projections for an upcoming game then expecting the game to match the projections. It won’t happen but it can be quite beneficial to engage the thought processes.

This can be taken further by writing a book with a view toward possibly publishing it. The best way to learn about something is to be in a position to teach it well. Thinking about what would need to be written to communicate to a larger audience than one a business plan would normally be targeting takes the process to a higher level. Writing the business plan and also writing the book on the customer, the industry and the business requires a thorough understanding and generates additional material that can be reviewed and evaluated.

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Everyone has heard or read enough about the importance and need to listen to and understand customers. People tend to do a fairly good job of this aspect of knowing the business. There is much more to knowing one’s business than listening well to customers but that is a great place to start.

Listening to and understanding customers directly is usually although not always better than relying on second hand data in knowing one’s customer and industry. There are some areas where substantial business can be done without direct knowledge of the customer but that is not typically the norm. With few exceptions, listening to the customer is extremely useful and important.

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Listening to and understanding a competitor is also important. A goal of listening is to gather enough market intelligence to develop an accurate picture of the market, competitive landscape and one’s place in it.

But don’t just listen. Analyze the data and think it through. Learn 100 new things about the customer or prospective customer. Call it the Strategic 100. Do likewise for each of the competitors. If that wasn’t so hard, then rank and take the top 10 items from each list, and do a second round to obtain the original list and another 100 item list focused around the top 10 items. Call it the Focus 10/100.

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The real keeners who love this type of analysis can do it again and, as long as they don’t end up with analysis paralysis, will have a very good idea of where the customers are and what is the true competitive landscape. Although this is hard work, at the end of it, one will be able to answer the following questions and many others. “Could you tell me a hundred ways to identify your target market?” “What do customers love about your product?” “What do they love about the competitor’s product?” “What do they hate about yours?” “Theirs?” “What 10 things from each of your main competitors are you going to steal or copy?” This can be taken as far as is practical. Whether thinking in terms of copying best practices or stealing key employees and customers, there is a range of options. A market player can rest assured the best from among their competitors are doing similar things.

Written analysis is very important and can be quite time consuming. It is important to be careful to not get caught in the analysis paralysis trap. This is where one becomes so busy going around asking questions, learning stuff and writing that the actual business does not get done. Beginners often experience this. An effective way to go about it is to develop good intelligence gathering habits and systems as part of the marketing and sales process: Learning by doing, learning while doing and doing while learning. Efficiently rendering the intelligence into well organized and well written content can be hard work but the process should prove to be a worthwhile and rewarding one.

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Not all people write equally well, and while rendering intelligence into a useful document may be an easy task for one person; it could be a daunting one for someone else. Fortunately, there is nothing wrong with getting help. Most inventors, whether corporate or individual, do not write their own patent specifications and claims, leaving it to patent agents who are skilled in this type of specialized technical writing. Likewise, help can be brought in to prepare business plans, whitepapers, speeches, articles, books, etc. For many lone inventors, the costs of hiring outside help becomes a barrier, so by the time the patent writing has been paid for, there isn’t enough money to hire anyone to help write business plans and the myriad other written materials that are required in the process of bringing an invention to market. Learning how to write well enough to get the job done should become a priority for those who cannot recruit or hire others to do it.

Substantial market strategy and market research work should be done before any money is spent on technical development. The further along the technical processes, the harder and more costly it becomes to change course. Doing a solid and thorough job of the customer, industry and market strategy and research work up front makes it easier to direct the technical development in the optimum direction. Fewer course corrections can result in substantial performance improvement of the technical effort.

Knowing the business well enough to be able to write a book about it and then actually writing the book is a good way to overcome inventoritis. This should be done before any technical work is started. Well managed companies have processes for doing this while engineering-driven companies often do not and create products for which there is no customer and no sales. Applying substantial resources up front toward knowing the customer, industry and business well enough to publish a book on it is an excellent way to overcome inventoritis and navigate toward a successful innovation. Even if your business fails, you can still sell the book.

Peter Paul Roosen and Tatsuya Nakagawa are co-founders of Atomica Creative Group , a specialized strategic product marketing firm. Through leading edge insight and research, sound strategic planning and effective project management, Atomica helps companies achieve greater success in bringing new products to market and in improving their existing businesses. They have co-authored Overcoming Inventoritis: Happy About® Not flushing Away Your Innovation Dollars now available.

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Last Updated on October 21, 2020

8 Simple Ways to Be a Better Listener

8 Simple Ways to Be a Better Listener

How would you feel if you were sharing a personal story and noticed that the person to whom you were speaking wasn’t really listening? You probably wouldn’t be too thrilled.

Unfortunately, that is the case for many people. Most individuals are not good listeners. They are good pretenders. The thing is, true listening requires work—more work than people are willing to invest. Quality conversation is about “give and take.” Most people, however, want to just give—their words, that is. Being on the receiving end as the listener may seem boring, but it’s essential.

When you are attending to someone and paying attention to what they’re saying, it’s a sign of caring and respect. The hitch is that attending requires an act of will, which sometimes goes against what our minds naturally do—roaming around aimlessly and thinking about whatnot, instead of listening—the greatest act of thoughtfulness.

Without active listening, people often feel unheard and unacknowledged. That’s why it’s important for everyone to learn how to be a better listener.

What Makes People Poor Listeners?

Good listening skills can be learned, but first, let’s take a look at some of the things that you might be doing that makes you a poor listener.

1. You Want to Talk to Yourself

Well, who doesn’t? We all have something to say, right? But when you are looking at someone pretending to be listening while, all along, they’re mentally planning all the amazing things they’re going to say, it is a disservice to the speaker.

Yes, maybe what the other person is saying is not the most exciting thing in the world. Still, they deserve to be heard. You always have the ability to steer the conversation in another direction by asking questions.

It’s okay to want to talk. It’s normal, even. Keep in mind, however, that when your turn does come around, you’ll want someone to listen to you.

2. You Disagree With What Is Being Said

This is another thing that makes you an inadequate listener—hearing something with which you disagree with and immediately tuning out. Then, you lie in wait so you can tell the speaker how wrong they are. You’re eager to make your point and prove the speaker wrong. You think that once you speak your “truth,” others will know how mistaken the speaker is, thank you for setting them straight, and encourage you to elaborate on what you have to say. Dream on.

Disagreeing with your speaker, however frustrating that might be, is no reason to tune them out and ready yourself to spew your staggering rebuttal. By listening, you might actually glean an interesting nugget of information that you were previously unaware of.

3. You Are Doing Five Other Things While You’re “Listening”

It is impossible to listen to someone while you’re texting, reading, playing Sudoku, etc. But people do it all the time—I know I have.

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I’ve actually tried to balance my checkbook while pretending to listen to the person on the other line. It didn’t work. I had to keep asking, “what did you say?” I can only admit this now because I rarely do it anymore. With work, I’ve succeeded in becoming a better listener. It takes a great deal of concentration, but it’s certainly worth it.

If you’re truly going to listen, then you must: listen! M. Scott Peck, M.D., in his book The Road Less Travel, says, “you cannot truly listen to anyone and do anything else at the same time.” If you are too busy to actually listen, let the speaker know, and arrange for another time to talk. It’s simple as that!

4. You Appoint Yourself as Judge

While you’re “listening,” you decide that the speaker doesn’t know what they’re talking about. As the “expert,” you know more. So, what’s the point of even listening?

To you, the only sound you hear once you decide they’re wrong is, “Blah, blah, blah, blah, blah!” But before you bang that gavel, just know you may not have all the necessary information. To do that, you’d have to really listen, wouldn’t you? Also, make sure you don’t judge someone by their accent, the way they sound, or the structure of their sentences.

My dad is nearly 91. His English is sometimes a little broken and hard to understand. People wrongly assume that he doesn’t know what he’s talking about—they’re quite mistaken. My dad is a highly intelligent man who has English as his second language. He knows what he’s saying and understands the language perfectly.

Keep that in mind when listening to a foreigner, or someone who perhaps has a difficult time putting their thoughts into words.

Now, you know some of the things that make for an inferior listener. If none of the items above resonate with you, great! You’re a better listener than most.

How To Be a Better Listener

For conversation’s sake, though, let’s just say that maybe you need some work in the listening department, and after reading this article, you make the decision to improve. What, then, are some of the things you need to do to make that happen? How can you be a better listener?

1. Pay Attention

A good listener is attentive. They’re not looking at their watch, phone, or thinking about their dinner plans. They’re focused and paying attention to what the other person is saying. This is called active listening.

According to Skills You Need, “active listening involves listening with all senses. As well as giving full attention to the speaker, it is important that the ‘active listener’ is also ‘seen’ to be listening—otherwise, the speaker may conclude that what they are talking about is uninteresting to the listener.”[1]

As I mentioned, it’s normal for the mind to wander. We’re human, after all. But a good listener will rein those thoughts back in as soon as they notice their attention waning.

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I want to note here that you can also “listen” to bodily cues. You can assume that if someone keeps looking at their watch or over their shoulder, their focus isn’t on the conversation. The key is to just pay attention.

2. Use Positive Body Language

You can infer a lot from a person’s body language. Are they interested, bored, or anxious?

A good listener’s body language is open. They lean forward and express curiosity in what is being said. Their facial expression is either smiling, showing concern, conveying empathy, etc. They’re letting the speaker know that they’re being heard.

People say things for a reason—they want some type of feedback. For example, you tell your spouse, “I had a really rough day!” and your husband continues to check his newsfeed while nodding his head. Not a good response.

But what if your husband were to look up with questioning eyes, put his phone down, and say, “Oh, no. What happened?” How would feel, then? The answer is obvious.

According to Alan Gurney,[2]

“An active listener pays full attention to the speaker and ensures they understand the information being delivered. You can’t be distracted by an incoming call or a Facebook status update. You have to be present and in the moment.

Body language is an important tool to ensure you do this. The correct body language makes you a better active listener and therefore more ‘open’ and receptive to what the speaker is saying. At the same time, it indicates that you are listening to them.”

3. Avoid Interrupting the Speaker

I am certain you wouldn’t want to be in the middle of a sentence only to see the other person holding up a finger or their mouth open, ready to step into your unfinished verbiage. It’s rude and causes anxiety. You would, more than likely, feel a need to rush what you’re saying just to finish your sentence.

Interrupting is a sign of disrespect. It is essentially saying, “what I have to say is much more important than what you’re saying.” When you interrupt the speaker, they feel frustrated, hurried, and unimportant.

Interrupting a speaker to agree, disagree, argue, etc., causes the speaker to lose track of what they are saying. It’s extremely frustrating. Whatever you have to say can wait until the other person is done.

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Be polite and wait your turn!

4. Ask Questions

Asking questions is one of the best ways to show you’re interested. If someone is telling you about their ski trip to Mammoth, don’t respond with, “that’s nice.” That would show a lack of interest and disrespect. Instead, you can ask, “how long have you been skiing?” “Did you find it difficult to learn?” “What was your favorite part of the trip?” etc. The person will think highly of you and consider you a great conversationalist just by you asking a few questions.

5. Just Listen

This may seem counterintuitive. When you’re conversing with someone, it’s usually back and forth. On occasion, all that is required of you is to listen, smile, or nod your head, and your speaker will feel like they’re really being heard and understood.

I once sat with a client for 45 minutes without saying a word. She came into my office in distress. I had her sit down, and then she started crying softly. I sat with her—that’s all I did. At the end of the session, she stood, told me she felt much better, and then left.

I have to admit that 45 minutes without saying a word was tough. But she didn’t need me to say anything. She needed a safe space in which she could emote without interruption, judgment, or me trying to “fix” something.

6. Remember and Follow Up

Part of being a great listener is remembering what the speaker has said to you, then following up with them.

For example, in a recent conversation you had with your co-worker Jacob, he told you that his wife had gotten a promotion and that they were contemplating moving to New York. The next time you run into Jacob, you may want to say, “Hey, Jacob! Whatever happened with your wife’s promotion?” At this point, Jacob will know you really heard what he said and that you’re interested to see how things turned out. What a gift!

According to new research, “people who ask questions, particularly follow-up questions, may become better managers, land better jobs, and even win second dates.”[3]

It’s so simple to show you care. Just remember a few facts and follow up on them. If you do this regularly, you will make more friends.

7. Keep Confidential Information Confidential

If you really want to be a better listener, listen with care. If what you’re hearing is confidential, keep it that way, no matter how tempting it might be to tell someone else, especially if you have friends in common. Being a good listener means being trustworthy and sensitive with shared information.

Whatever is told to you in confidence is not to be revealed. Assure your speaker that their information is safe with you. They will feel relieved that they have someone with whom they can share their burden without fear of it getting out.

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Keeping someone’s confidence helps to deepen your relationship. Also, “one of the most important elements of confidentiality is that it helps to build and develop trust. It potentially allows for the free flow of information between the client and worker and acknowledges that a client’s personal life and all the issues and problems that they have belong to them.”[4]

Be like a therapist: listen and withhold judgment.

NOTE: I must add here that while therapists keep everything in a session confidential, there are exceptions:

  1. If the client may be an immediate danger to himself or others.
  2. If the client is endangering a population that cannot protect itself, such as in the case of a child or elder abuse.

8. Maintain Eye Contact

When someone is talking, they are usually saying something they consider meaningful. They don’t want their listener reading a text, looking at their fingernails, or bending down to pet a pooch on the street. A speaker wants all eyes on them. It lets them know that what they’re saying has value.

Eye contact is very powerful. It can relay many things without anything being said. Currently, it’s more important than ever with the Covid-19 Pandemic. People can’t see your whole face, but they can definitely read your eyes.

By eye contact, I don’t mean a hard, creepy stare—just a gaze in the speaker’s direction will do. Make it a point the next time you’re in a conversation to maintain eye contact with your speaker. Avoid the temptation to look anywhere but at their face. I know it’s not easy, especially if you’re not interested in what they’re talking about. But as I said, you can redirect the conversation in a different direction or just let the person know you’ve got to get going.

Final Thoughts

Listening attentively will add to your connection with anyone in your life. Now, more than ever, when people are so disconnected due to smartphones and social media, listening skills are critical.

You can build better, more honest, and deeper relationships by simply being there, paying attention, and asking questions that make the speaker feel like what they have to say matters.

And isn’t that a great goal? To make people feel as if they matter? So, go out and start honing those listening skills. You’ve got two great ears. Now use them!

More Tips on How to Be a Better Listener

Featured photo credit: Joshua Rodriguez via unsplash.com

Reference

[1] Skills You Need: Active Listening
[2] Filtered: Body language for active listening
[3] Forbes: People Will Like You More If You Start Asking Follow-up Questions
[4] TAFE NSW Sydney eLearning Moodle: Confidentiality

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