As I delve into the Virtual business world, it is obvious that the number of people working virtually continues to rise each year. This is good news.  Mindtools just listed interesting statistics on their newslettter:

• The Telework Research Network states that there are currently 2.9 million full-time virtual workers in the U.S. This is a 61 percent increase since 2005.
• One survey found that 44 percent of U.S. companies plan to increase their virtual workforce in the coming years.
• A study conducted by the Society for Human Resource Management reports that 37 percent of organizations have experienced an increase in the number of requests for “flexible work arrangements.”
• Statistical Indicators Benchmarking the Information Society (SIBIS) found that 13 percent of the total population of the EU can be classified as virtual workers.
• Alongside Germany, the U.K. leads the EU in the number of virtual workers. The BBC estimates that 1.3 million U.K. people work virtually full time, and that 3.7 million people do so part time.

See more at: http://www.mindtools.com/pages/article/working-virtual-team.htm#np

A study conducted by The Academy of Management Executive on Lessons from Sabre Inc.  discusses 5 valid challenges of virtual staffing.  All of these issues can be overcome by forward-thinking managers.

1. Building Trust Within Virtual Teams
2. Maximizing Process Gains and Minimizing Process Losses on Virtual Teams
3. Overcoming Feelings of Isolation and Detachment Associated With Virtual Teamwork
4. Balancing Technical and Interpersonal Skills Among Virtual Team Members
5. Assessment and Recognition of Virtual Team Performance

Personally, I like to use Skype and other tools that allow collaboration and visual contact rather than relying solely on email. Face-to-face meetings also help build relationships if possible.  One thing is true, it is hard to go back to an office cubicle after experiencing the possibilities of the virtual world.

What differentiates good executives from great executives?  One of the main factors is the ability of an executive to draw you in and make you believe: the skill of a good storyteller.

We have all heard of sales people that can sell sand in the desert, snow to an Eskimo etc.  How can you bring that skill to your every-day interaction with clients, investors, or staff?

Good storytelling is about communicating an idea or principle in an efficient and effective way.  This can be in different formats thanks to social media.  However, the ability to tell a good story starts with the spoken word: whether it is in an office, conference room, stage or on camera.

1: Know the point of the story

Organize your thoughts in such a way that the information you convey is around 1-2 points only. Give them your key points, make it personal and if they are interested they will ask for more.  But, you have now captured their attention and won them over.

2: Know what your customer is looking discover

Get your audience engaged by starting your story with the information your audience is looking for, not what do you want to give your audience.  Appeal to the emotions of your audience.

3: Know when to quit

Less is more – tell your story, then quit.

4. Practice, practice, practice.  Write it out in long format, tell the story to friend, family.  The more you tell it the more refined it will get.

From the experts….

The TAI Group has a great blog on leadership.  Some of it focused on communications, where coaches help you craft your story.One suggestion is to bring all senses into your story, drawing in the audience, making it more memorable.  Also, reconstructing your story to what they call the “story spine”: reality is introduced, conflict arrives, there is a struggle, the conflict is resolved, and a new reality exists. Incorporating these two tools can cause a profound shift in our abilities to tell effective stories.

Another recommendation is to have that powerful opener to command attention, draw the audience in by engaging their emotions and, make it personal to get buy in.

MindTools talks about using stories to inspire: Leaders, especially, can use the power of a good story to influence and motivate their teams. Stories can inspire everything from understanding to action.  They talk about differ types of stories “Who am I”, “Why I am here”, “vision” stories and “values in action” to gain clients.

So go, get a pen and paper and write your story.

Executive Time Management

At the senior level of an organization, management has the world on their shoulders: the day-to-day direction of the business as well as long-term leadership and planning.  How can one possibly accomplish either, as they require 100% focus?  Efficient time management is one avenue to achieve your tasks, priorities & goals.

Office hours

While open door policy sounds good, an executive absolutely needs to have uninterrupted time to tackle priorities.

Have a gatekeeper who can take care of the constant phone-calls, drop-ins and emails, but leave some wiggle time for those who can interrupt (Board members, superiors) and for emergencies/crises.

Take control over how you spend your time.  The image below shows a sample of the Eisenhower matrix, also used by Dr. Stephen Covey. It is a simple but extremely useful tool.  Mindtools.com detail its use on their Time Management website.

Block your time in your daily schedule for quiet time.  Know your most productive time of the day and tackle the urgent matters then.

Often this is accomplished by having a to-do list for urgent issues during the first half of the day, giving you time to spend on strategic planning and relationship building during the second part, giving you a sense of accomplishment. Know what time of the day is most creative for you. If possible spend that out of the office, at home where you can think without interruption.  Turn off the email alert on your computer, as it does nothing but distract.

Have your to-do list and your calendar on your desk in your view at all times.  Have extra computer monitors if needed.  Know what is next on your list so you are always thinking ahead.

Delegation: 

Know what an hour of your time is worth and if you find yourself doing low-value tasks – delegate them.  Your superiors are looking for results from you; check the Pareto principle 80/20 rule.  Delegate and empower your staff.  If there are multiple tasks, prioritize them.   If you want something done, send to 1 person.  If you really want something done, cc a superior.

If you receive multiple requests from your superiors, ask for them to be prioritized for you.

Meetings:

Plan your meetings and require that you only attend meetings that are properly planned out.  Have a member of staff moderate if there is a large attendance.  At the end of meetings, always have a follow-up decision and responsibility breakdown.  Have it in writing so there are no miscommunications.

If you have a face to face in your office, follow-up with the outcome and to-do’s in a 2-line email.

Take time off

Balance your personal and business time.  You can be more effective with less hours logged in the office if you manage your time correctly.  Take time in your day to exercise, eat dinner with the family, and do something for yourself.  Take scheduled vacations and turn off email with an out of office alternative contact.

Some good places to learn more times on Time Management

• Randy Pausch – Time Management Given at the University of Virginia Tuesday, November 27th, 2007.  This is a LONG video, but easy listening if you get an hour…
• Steven Covey’s  “7 Habits of Highly Effective People”.  A classic.
• Peter Drucker’s “The Effective Executive”. A little dated, but solid advice.