Productivity | Martin Willoughby

15 Feb 2016

Sticky Post By overseer Posted in Attitude Permalink

HOW TO GROW YOUR WILLPOWER

Sticky Post By overseer On February 15, 2016

At the 2009 U.S. Open, Serena Williams lashed out at a lineswoman in a profanity laced tirade that not only cost her the match, but also $82,500 in fines. Serena, a former No.1 ranked tennis player in the world and holder of 27 grand slam titles, had a lapse in self-control.? Our ability to self-regulate has tremendous impact on our lives.? The lack of self-control by many politicians and celebrities has led to public displays of the disastrous results (e.g. Rep. Anthony Wiener, Gov. Mark Sanford, Charlie Sheen, etc.).? A study published in 2010, tracked one thousand children from birth to age thirty two and found that the greatest predictor of ?success? in life was the trait of self-control.? Interestingly, in a study with over one million survey responses, participants were asked to list their personal strengths, and self-control was dead last. We seem to know our own limitations when it comes to our willpower. ??Unfortunately, the challenge of self-control has led to alarming rates for crime, divorce and sexually transmitted diseases in our modern times.? In fact, social psychologist Dr. Roy Baumeister in his 1994 book ?Losing Control? argued that, ?Self-regulation failure is the major social pathology of our time.?

For entrepreneurs and business leaders, the ability to exercise self-control is extremely important.

In today?s business environment, we have constant distractions competing for our focus and energy.? We have the vast array of information of the internet readily available ? just tempting us to explore.? We can watch our favorite movies and television shows any time on portable devices we carry around with us.? Even going to the grocery store presents us with a dizzying array of choices as local groceries have now grown into megastores.? Author and performance coach Tony Schwartz noted, ?Self-control is the ability to say no, in the face of temptation, and to take sustained action, despite the difficulty of a given challenge.?? I have the good fortune to interview leaders on a regular basis. One of the common themes I hear is that it is critical for leaders to separate ?the great from the good? by learning to say no.? By saying ?no? to very good things, we are able to ?yes? to the truly great opportunities. Leaders have to make difficult decisions and lead by example.? Nobody wants to follow people who routinely exhibit poor self-control.

Schwartz also emphasized, ?Over the years, we?ve learned that nearly everything people tend to believe about self-control is wrong. Most of us assume the only way to resist our impulses, or persevere under pressure, is to grit our teeth, furrow our brows, steel our nerves, and tough it out. Precisely the opposite is true.?? In his recently published book entitled ?Willpower,? Baumeister shares the results of over two decades of rigorous scientific study on this topic which I believe will reframe how think about self-control.? Baumeister and his co-author John Tierney share that ?willpower is a form of energy in the brain. It?s like a muscle that can be strengthened with use, but that it also gets fatigued.?

What the authors found was that our energy is the key to our self-control.? We all have a pool of energy to complete our physical and mental tasks each day.? Each time we exercise self-control in an important or even trivial matter, we draw down on this available energy.? The energy source in our bodies is glucose, the simple sugar produced in our body from the foods we eat.? Researchers found that there was a direct correlation between glucose levels and self-control.? In fact, they found that, ?As the body uses glucose during self-control, it starts to crave sweet things to eat . . .?? I know when I skip a meal that I become ravenous and my own willpower to eat healthy tends to go out the door ? just give me a piece of pizza!

As we learn more about how our brains and bodies work, we can put this information to use in our daily lives. By learning to improve our willpower, we can create a huge competitive advantage in work and life.? To have more self-regulated lives, we have to learn how to manage our energy.? Below are some of the core concepts from this emerging of field of research that we can start to apply today.

Maximize Your Energy

Based on the research, we could draw the wrong conclusion that we need to have Snickers? bars with us all the time to fuel our glucose so we can exhibit better self-control.? This is obviously not the way to go. However, the key is to maintain healthy glucose levels throughout the day.? Nutritionists would tell us to accomplish that by eating more frequently throughout the day (5-6 times a day).? My own research on this topic has convinced me to be a ?grazer? throughout the day and avoid large meals.? This research also validates the advice your mother gave you to ?eat a healthy breakfast!?? Starting your work day without having a good breakfast puts you at a competitive disadvantage from the beginning of the day.? We also know that we should eat low-glycemic foods which provide sustainable sources of energy throughout the day.? When our bodies crave the afternoon snack, we need to refuel with good sources of glucose and not the cookie or Coke.? ?In addition, the research is clear that regular exercise and sleep all help us maintain the right levels of energy.? The average American only gets six hours of sleep, but performance expert Dr. Anders Ericcson has shown peak performers sleep eight or more hours a night on average. ?The bottom line is that we can be intentional about improving our willpower by better managing our energy levels.

Make Your To Do List

Baumeister and Tierney also found that one the keys to improving our willpower is have a good ?to do? list.? However, this does not mean creating pages of things that we need to get done.? Instead, they noted, ?an executive?s daily to-do list for Monday often contains more work than could be done the entire week.? We tend to have too many goals and to-do?s which diffuses our focus and energy.? Baumeister and Tierney shared a best practice for team members to weekly share up to three goals that they plan to focus on for the following week and to create a weekly accountability loop on those goals.? It is also important to pre-plan your reward for achieving your goal. ?I enjoy the great feeling of scratching an item off my to-do list. It is a simple act but brings me joy!

Clean Your Room

Research has also found that having a messy workspace leads to less self-control.? Unfortunately, those stacks of paper piled up on our desks actually are hurting our ability to exhibit willpower and achieve our goals. By ordering our workspace, we create positive momentum and don?t deplete our willpower resources. ?In fact, a clean workspace is an integral part of the Japanese 5S system of workplace organization used by many companies.

Conclusion

One of the interesting findings from research on willpower is that people with more self-control are more altruistic.? They give more to charity, volunteer more, and are more likely to be concerned about others in society.? ?It is also encouraging to me to learn that I am not a slave to my weaknesses, but that I can actually learn to have better willpower to accomplish positive things in my life.? Through implementing some of the findings described in this article and others from this emerging field of research, we have the ability to improve not only our own lives, but also those around us.? For entrepreneurs and business leaders, reclaiming this character trait of willpower and learning how to grow it could be the most important element of future success.

22 Jan 2016

Sticky Post By overseer Posted in Leadership, Motivation and Encouragement, Operational Excellence Permalink

HOW TO BENCHMARK YOUR PRACTICE FOR SUCCESS

Sticky Post By overseer On January 22, 2016

I grew up playing and teaching people how to play tennis.? Some players would practice and practice, but it was not until they actually played in a tournament that they got real feedback on how they were progressing. Similarly, as you work day to day in your medical practice, it is easy to operate in a vacuum.? However, you can solve this problem by benchmarking your practice against others locally and around the country.

Practicing medicine is data driven.? You spend years learning to quickly review and interpret data to improve patients? lives.? This data driven mindset can help you optimize your practice as well.

There are four keys to successful benchmarking:

(i) The ability to produce accurate data in your own practice

(ii) Access to quality data on key metrics for comparable practices

(iii) Proper analysis and interpretation of the data

(iv) The will to execute on your findings.

Producing Your Own Data

How much do you know about your own practice? ?It?s hard to make comparisons to others when you don?t know your own numbers.? This starts with creating sound accounting practices.? What type of accounting software are you using?? Can it track all of the detail you need?? Is the information easily accessible?? Work with your accountant or practice consultant to ensure you are capturing the necessary data.? As bestselling author Stephen Covey taught, ?you want to begin with the end in mind.?? Therefore, think about the data you want to be able to review, and then make sure that you have the systems and data collection to give you what you need.

Comparable Key Metric Data

You want to look both at practice characteristics and productivity measures when analyzing comparable data.? For example, practice characteristics include:? size of patient base, number of exam rooms, hours of operation, number of physicians, number of staff, fees, and payor mix.? Productivity measures include revenue per square foot, annual revenue per active patient, gross revenue growth, patients per day, gross revenue per exam, staff turnover, percentage of gross income and net income for staff, marketing, insurance, etc. ?It is also helpful to compare salaries, rent costs, and insurance premiums.

Where do you get this type of information?? There are associations such as the Medical Group Management Association that have a great deal of this type of information available.? I?ve also found that practice focused associations also generally have good data on practice areas. Finally, some of the medical industry vendors (e.g. pharmaceutical and device manufacturers) have very good data as well.

Analyze the Data

Your job is to practice medicine, not to be a forensic accountant.? Therefore, your practice reports should be clear and easy to understand.? You?re looking for trends and patterns in the data.? It should not make you cross-eyed to interpret the data.? I prefer nice graphs and charts to graphically illustrate the information.? This helps me to spot changes over time.? One additional point is to know the value of your time.? I encourage professionals to do the basic equation (income / hours worked) to know their ?hourly rate.? This is very helpful when you consider how you spend your time and what things need to be delegated or outsourced.

As you know and understand your own data then you can better compare it to the benchmark data you review.? It?s important to make sure that you are comparing ?apples to apples? in your analysis so be cognizant of distinctions based on urban/rural settings, practice size, and geography.? How does your practice stack up?? Are you managing costs appropriately?? Is your practice being productive with the resources allocated?? It takes time to actually compare this important data.? This is truly thinking ?on your business? versus thinking ?in your business.?? Take the time to set aside good thinking time to review the data.? I would recommend getting out of the office so you?re not interrupted.? You may want to get some of your trusted advisors or staff to review it with you.? Having more than one perspective can be helpful.? What is the story that the data is telling you?? Write down your conclusions and potential action items.

Act on What You Learn

I have spoken with many physicians who are disappointed when their patients don?t act on the valuable medical advice they receive.? As any physician knows, it?s not what you know that counts, but what you do with what you know.? Once you?ve taken the time to create the systems to produce accurate data in your practice, gather quality third party data, and to thoughtfully review and analyze the information, now it is time to act.? Create written goals and action items based on your findings.? Make sure you have action items delegated to those who can get it done.? Most importantly, you want to follow up and make sure your organization is accountable to complete the proposed changes. Finally, it?s important to remember that this process is an ongoing one.? It creates a positive feedback loop in your practice.? I would recommend at least annually making sure that your practice is on the right track!

06 Jan 2016

Sticky Post By overseer Posted in Leadership, Managing Your Business, Motivation and Encouragement Permalink

MOTIVATING TODAY'S EMPLOYEE

Sticky Post By overseer On January 6, 2016

Have you ever stopped to really consider what motivates you or your employees?? This is a critical question for today?s companies. When I do one-on-one coaching with employers, this topic comes up a lot. For decades, most businesses have utilized extrinsic methods of motivation with the ?carrot? and the ?stick.?? This typically takes the form of bonus plans or negative reviews and firing for poor performance. The question to be asked is whether or not we are getting the desired results from these extrinsic efforts to motivate our teams.

Interestingly, recent scientific studies are challenging the way business leaders have traditionally thought about getting results. Researchers at the London School of Economics conducted an analysis of 51 separate studies on financial incentives in employment relations and found overwhelming evidence that the incentives may ?reduce an employee?s natural inclination to complete a task and derive pleasure from doing so.? According to Dr. Irlenbusch of the LSE, ?we find that financial incentives may indeed reduce intrinsic motivation and diminish ethical or other reasons for complying with workplace norms such as fairness.? As a consequence, the provision of incentives can result in a negative impact on overall performance.?

Author and speaker Dan Pink helps us make sense of this counterintuitive point by arguing that extrinsic rewards are only effective for left brain activities that involve rules and routine tasks such as certain types of accounting, financial analysis, or computer programming. However, there has been a major shift in many organizations to outsource as much of this routine work as possible. Therefore, many jobs today require more right brain creative problem solving skills than ever before.? The problem, as noted above, is that studies have shown that traditional incentives do not work well to motive employees tasked with right brain responsibilities.

When you look at the way most firms attempt to motivate their employees, it becomes apparent that most businesses have not caught up with these scientific discoveries.? So, what do we do to motivate today?s employees?? Leading thinkers point to the value of intrinsic rewards for work.? Pink notes three key elements for the new paradigm of employee motivation:? Autonomy, Mastery, and Purpose.

Autonomy

It is particularly apparent with the younger generations that they will be demanding more autonomy in their work life.? They will not be content to be blindly directed by management without some level of self-direction.? Employees empowered with autonomy usually have a sense ?ownership? and are more engaged.? A practical example of this is Google?s practice of allowing its engineers to spend 20% of their paid time on their own projects.? Of note is that about half of Google?s products and services have been created by employees during this autonomous work time including Gmail. In the extreme, some companies have completely gone away from schedules and allow everyone to work their own hours.? The bottom line is that autonomous workers have greater productivity and job satisfaction.? The problem is that the ?manager? mindset has been so ingrained in our business psyche that this can be a difficult shift.

Mastery

For centuries, most people either worked in agriculture or in a trade with their hands.? This usually involved years of training and experience to master a craft.? In the industrial age, we were challenged because our labor became repetitive and disconnected from the final product or service. This led to inevitable job dissatisfaction problems and poor productivity. Today is no different. We want to provide the opportunity for our employees to learn and become better at their skills and abilities.? We all tend to feel better about ourselves when we improve.? A focus on mastery allows people to once again become experts at their craft and to continually improve.? It is no wonder that most successful organizations today place a high value on the training and development of their people.

Purpose

When your work seems pointless, it is hard to become motivated to give it your best.? An effective leader knows how to bridge this gap and let each employee know how his or her contribution directly impacts the success of the organization.? I believe that as human beings we all desire to find our purpose in life.? Since work takes such a huge part of our time, it is only natural to seek meaning and purpose in our work. I strongly advocate that businesses also benefit when they have clearly stated visions and values that define who they are.? This allows employees to connect with the larger purpose of the company.

In sum, it will be imperative for businesses to embrace these scientific findings that intrinsic motivators can achieve the best organizational results.? I believe in the very near term, U.S. companies will face increased competition globally even in the right-brain work prevalent in our economy today.? Incentivizing management and workers with outdated ?carrot? and ?stick? models will lead to being left behind.? Companies that unleash the potential of their employees through intrinsic motivators such as autonomy, mastery, and purpose will lead the pack in the future.