- January 25, 2014
- Posted by: Phillip W. Duff
- Categories: Agencies, Buyers, Law Firms, Training
As a consultant serving CEO’s in the ARM industry for the past decade, I have learned that most CEO types are not very trainable. The ones that are trainable, and embrace new ideas and new processes, are clearly leading the industry.
I have dealt with many “Collector Kings” in my career when I was an owner or manger of collections agencies, but the level of “I Know It All” in the C-Suite is astounding. I do realize the owner/manager needs to act and carry him or herself confidently, but many will not listen to new advice from their staff, or entertain progressive processes and most shun away any type of change in general.
So how do you make sure are teachable and trainable? It’s only done by embracing change and learning! Now if you are one that does not like change (80% of the population) then you will have to create a plan and follow it. Now you are asking “What kind of plan? I don’t like change or new stuff plus I am too busy being stagnant to learn new stuff. No thanks!” The biggest excuse is I am too busy to _____. This is just that, an excuse to stay stagnant and to avoid change.
If you are still reading you are on the road to recovery.
To become trainable try these simple tips:
→ Set aside 3 times a year to attend training classes. Not the sessions you attend at the ACA or DBA but something you would not normally attend such as;
♦ Excel class
♦ Chrystal reports
♦ Collection Software classes
♦ Sales training
♦ Customer service seminar
♦ ACA fly in
♦ DBA retreat
♦ Motivational seminars (Success 2012)
→ Read, Read and Read. Read the industry sites like Inside ARM and browse LinkedIn for articles daily. Also encourage your staff to do so by providing access to these sites in the office and pointing them to good articles found there. But also read business books or use audible versions (this is my preference). Have a library of books available to your staff like;
♦ Good To Great
♦ Art of War
♦ Delivering Happiness
♦ Great by Choice
♦ Fred Factor
♦ The Zappos Experience
♦ The Tipping Point
→ Listen! Learn to listen to your staff, have town meetings and allow the staff to make suggestions for improvements and listen to them. Listening is especially hard for the successful CEO, so try hard to hear the message that the staff is sending.
If you need help with these tasks then you should get a mentor or join a group like Young Presidents or Vistage. Lighthouse Consulting LLC has been helping ARM companies unlock profits that are being concealed by meager operating practices and procedures and overlooked opportunities. Call us for more info at 904-687-1687 or contact Phillip W. Duff at email@example.com