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Know Thyself: Launch a Business Doing What You Love
June 18, 2010
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“Julie and Julia” and your career -Part One
June 17, 2010
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Know Thyself: and Then Forget What You Know
June 15, 2010
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Know Thyself: Feeling Gracious? Or is It Something Else?
June 11, 2010
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Know Thyself: Emotional Intelligence and Your Viability as a Job Candidate.
June 8, 2010
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Know Thyself: Put Your Best You Forward.
June 4, 2010
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Part Two: The New-old Power of References
June 18, 2008 | Author: Promise Phelon | Filed under: Your Net Promoter Score
In my last job as CEO of a preeminent management consulting firm, one of the firm’s areas of expertise was on the impact of word of mouth and references in the buy process for large, critical B2B technology and business systems. Multi-year, multi-million-dollar commitments come with incredible professional risk. What if the vendor doesn’t deliver? What if the solution doesn’t actually solve the pain as promised?
References, in B2B, are a powerful, time-saving and risk-mitigation strategy. They work that way in your personal and professional life as well: just ask your peers to rate their experiences with you and advise you on how to solve a key challenge. In a society where time is a rapidly appreciating asset, networks enable the currency of trust to be quickly understood and exchanged. And, in a world of infinite opportunities and choice, every decision, both business and personal, comes with a heavier burden of risk.
Consider: a recent ExecuNet survey revealed that 66% of executives credit networking as the key activity that leads to career opportunities, outpacing responding to job postings and ads (31%) and broadcasting resumes to colleagues and friends (3%). This says everything—not only companies, but people, too, prefer to leverage the intangible. The collection of experiences about you, your approach and your solution often trumps the “objective” data and apples to apples comparison. References and networking are both about saving time—on lengthy reviews, failed projects and risk.
Something I’d encourage you to think about is a concept called Net Promoter. It’s used to assess the percentage of a company’s customer base are positive promoters who will encourage others to join in. The interesting part of this idea is many believe it has a strong correlation with a company’s future success and profit—the more happy customers who will buy more and tell others is good for the bottom line. Here is the equation: % of Promoters - % of Detractors = Net Promoter Score (NPS). Some hate the idea of NPS, but the underlying premise is that how your community perceives you has an incredible impact on your success in life.
Have you thought about your score lately? What does your network think about you?
A few links onNet Promoter:
http://www.netpromoter.com/calculate/nps.php
http://800ceoread.com/products/?ISBN=9781591397830
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