The 80/20 RULE IMPACTS YOUR BUSINESS

My wife taught me that women want to be heard and understood by men, not to have their problems necessarily fixed.

With management teams I coach, I see this as the 80/20 rule: Listening 80% of most conversations and talking only 20%. This has direct implications on running a business.

Case in Point

Jim Lynch, a CEO client was observed stopping his lengthy conversation when the other party started to nod their head.  He thought that meant there was agreement for his request. But he was stressed out  because many on his staff "agreed" to do important things and did not follow up.

So I had the other person meet with Jim and I so I could use the "nod" to expose both of them to this misunderstanding.  It happened - I interrupted Jim to call attention to the nod - and he shot back: "Hold a minute, Alan, I am not done talking here."

He was able to reverse the ratio to about 30% talking and 70% Listening...in about two weeks!

With clients and customers, listening so they feel understood, builds trust and meaningful relationships. After that, we gain the power to influence, suggest better ways to do things relevant to their individual needs, etc.

This ratio has implications for selling your product or services to how well your board can appropriately give advice.