2009 July | iberwang

31Jul/090

Making 360-Degree Feedback Work

Peer appraisals in the form of 360-degree can be a disaster if applied wrongly. Knowing how to get it right, however, improves employee (downline) performance and can add value to your business (network marketing).

So how can you fashion peer appraisal so that is more productive for your organization (group)? As a manager (leader), you are the key ingredient in the peer appraisal process and you have to ensure that your employee (downline) take that system on board and use it constructively.

So if you are seen to give feedback constructively, specifically and in a timely manner, it is more likely that your subordinates will follow suit. Here are some tips to improving the process by getting your team on board:

Show you care

Let everyone know how much you value peer appraisals and how you have benefited from them in the past.

Be an active listener

Take the time to sit down with each subordinate (downline) and carefully go through the appraisal system, listening for objection and dealing with them sympathetically. Engage each subordinate in discussion, ask for and be open to feedback, and implement changes based on that feedback, if required.

Organize regular training sessions

These sessions, held in small groups in an informal setting, should help subordinates practices giving and receiving feedback.

Publicize successes

Focus not on individual successes but the important benefits to the group that have come out of 360-degree feedback. By announcing these successes, everyone will feel they have made a valuable contribution.

Step in early with positive criticism

Don’t be afraid to let someone know he or she is not doing well at 360-degree feedback. The earlier you nip the problem in the bud, the more successful your peer appraisal system will be.

Tagged as: feedback, leader, peer appraisal, productive No Comments

30Jul/091

Emotional Intelligence For Excellent Leader

Emotional intelligence (EQ) isn’t luxury organisation can dispense with tough time. It is a basic tool that, deployed with finesse, is the key to professional success. The Havard Business Review 2003 concluded the finding after examined data on EQ.

What is EQ? EQ is the abilityto use emotions effectively. Some people just know how to get along with others; some people are more self-confident, and some are great at inspiring people. All these come from a set of skills – self-awareness, self-discipline and empathy – called EQ that determine personal and profesional success.

Author Daniel Coleman, in his best selling book “Emotional Intelligence”, estimated that 90 per cent of the difference between a “good leader” and an “excelent leader” can be attributed to EQ.

Additional EQ skills are indentifying and changing emotions, motivating yourself and emphathising with another person. Everyone has emotional intelligence – bust for most people, it is underdeveloped are and untapped resources.

Everyone can learn the EQ skills to build more successful relationships. The challenges is to see the value of emotional intelligence, then begain using these EQ skills on a daily basis.

“People don’t leave companies, they leave leaders,” claimed leadership guru Richard Leider. At the core of relationships is EQ.

EQ is not a new idea. Around 350 BC, the great Greek philoppher Aristotle wrote: “Anyone can become angry with the right person, to the right degree, at the right time, for the right purpose, and the right way – that is not easy.”

Says Dr Peter Salovey, professor of psychology at Yale University, “Yes we can control emotions. The trick is doing it in the right way at the right time.”

Some of the EQ applications in business such as Network Marketing, that have increased revenue are:
• improved customer services
• increased sales performance
• superior leadership.

EQ is emerging as a critical factor for sustaining high performance and motivation. Increasingly, business are turning to EQ, seeking win-win solution to challenges in customer services, loyalty, employee retention, productivity and leadership.

Tagged as: emotional intelligence, EQ, leader, Success 1 Comment

29Jul/095

How To Maximise Your Money

The best time to plant a tree was 20 years ago. The next best time is now. ~Chinese Proverb

In a previous write up, Golden Rule of Saving Wealth, arieiza suggested Unit Trust, while 1001curez believe in Real Estate to where to keep their saving. Different people have different point of view. Others wanted to take their risks in Forex, and make a lot of money too. Or you also could invest in stocks.

Before investing or keeping your money to the right place, always get to know about it thoroughly first. Get all the information’s needed. If you have to do some research, or googling, go ahead. Be sure to get necessary knowledge and skill before jumping to any money-invest bandwagon, as long as you are not falling to another Ponzi “Bernard Madoff” scheme.

So, I wish to share with you Money Today magazines that focus on Mutual Trust. Mutual Fund is more of an American termed, whereas in Malaysia, it is more commonly referred as Unit Trust.

There’s no difference between the two terms above. In Malaysia, the term Unit Trust and Mutual Fund is used interchangeably. Both terms refers to the same practice of collecting a large pool of money from investors which is then invested according to a prospectus written down according to the type of funds.

I know it was last year edition, but I hope it will give you an insight view about Mutual Trust/Unit Trust. Please sign in to download Money Today.

Finally, how do you make the best use of your money, in terms of growing it, use it to boost your wealth. Making the right decisions today will change the course of your future (retirement).

: Money Today Aug 21, 2008

Tagged as: forex, invest, mutual trust, real estate, unit trust 5 Comments

28Jul/092

Begin With The End In Mind

Ask anyone, people on the streets, businessman, wage earners why they work so hard. You will find that most people will give you the same answer.

“To make more money.”

No surprised there. But do they realize that more sacrifice to be made in order for them to earn every extra dollar. More importantly, do they know what they want in life? Does earning more money help them achieve what they want?

For example, married couples usually confronted with the issues of whether to “retire” one spouse to take care of the young children. The couples may have to consider the loss of income to the family and the spouse who has to sacrifice his/her career. Then there are the issues of children’s education versus their retirement fund. Which one would you give priority to?

Previously in “Sharing The Wealth”, I promised to write more about mind-mapping. How I used it as a tool to map my goal in life, and how make my dreams come true. Mind-mapping is a great way for students/undergrads when taking notes. But it’s also can be used as a tools to shape the direction of one’s financial plan.

Draw up your own mind map. In the middle is your dream. Then ask yourself, what you want in your life. A car maybe? Earn six-figure income. A bigger exclusive house at suburb area? Take a vacation every three months?

Write it down using mind mapping technique. Then for every item, you need to be more specific. If a car that you want, what kind of car, price, accessories, and etc. Finally do not forget to write down value of the car. For every items, ask yourself what, when, where, how much questions. Then paste it on the wall that you will see it everyday. If you prefer, it would be better if you put pictures for every items that you want.

Know what you want in life and set your priorities right, and you are one step closer to be successful in life.

Tagged as: mind mapping, secret of success, working hard 2 Comments

27Jul/093

Life Was Like A Box of Chocolates

My momma always said, “Life was like a box of chocolates. You never know what you're gonna get," is one of the most memorable quotes from Forrest Gump. Tom Hanks as Forrest Gump delivers an astounding performance as Forrest Gump in 1994.

While going through the drawer last weekend, I found one article that I keep for quite sometime. My son, sometimes, tease about me clipping newspapers, “so old fashioned” he said.

“Dad, we are living in the year of Facebook, Google, YM, and still dad clipping the newspaper? Just download the e-books from the net,” he added.

Yes, I’m from the old school. But, mind you, not all the information comes from the net. Sometimes, I like spending time reading newspaper or books, and feeling the texture of the paper, instead of glaring to the monitor. And by the end of the month, I will collect all the newspaper or old magazines to the Recycle Center with my two lovely daughters. It’s not that much that you can get from selling it, but think about doing our bit of recycling as an excellent way of saving energy and conserving the environment

Anyway, the article was from local newspaper, The Star, May 2, 2009, in a Your 10 Questions column. Azizi Ali, a personal finance and author ‘Millionaires Are From A Different Planet!' answered a question from the reader.

One of the questions, “If you can give one piece of advice, what would that be?”

“Do what you love, and the money will follow,” answered Azizi. “Don’t go on a blind pursuit of money. Even if you do make money – and some people do – you will not be very happy or live a fulfilling life.”

“Instead, build your business around your passion, something that you actually love,” he elaborated. “That way you can be happy and make money at the same time. And chances are you will make lots of money because your products and services will be of exceptional quality.”

Tagged as: Forrest Gump, millionaires, personal finance, tom hanks 3 Comments