Resilience vs. Persistence

This was an interesting conversation:  Can you have Resilience without Persistence?  Can you have Persistence without Resilience?  Are they interdependent?

Let’s assume that you are reading this because you are or want to become a leader.  Does an organization or a corporation need resilience?  It would be difficult to be successful without having faced and conquered some setbacks.  When would you need resilience?  Financial challenges?  Staffing challenges?  Economics of the area?  Time commitment problems?  Let us look at some of these.

Let’s say that you have a good organization going.  You have committed people, a great vision, and goals you can reach…until a financial fiasco happens.  Your treasurer suspiciously takes a trip to the Bahamas and isn’t planning to come back.  You are not ever going to get that money back.  Do you throw up your hands?  Some do.

What if you have a great product and all the resources you need to produce it, and cannot get anyone willing to work for commission to sell it.  How do you recruit people to commit themselves and their time to working for your company?  What if, after many months of success, your best sales person is lured to another company for a more stable income?  How do you fill that hole?!

What happens if you have a great group of people that love getting together and learning some skills and performing, and the national organization raises its dues?  Will your membership shrink because of the economics?  What if you sell luxury items and the bottom drops out of the local economy?  How do people afford your products?

If you want your group to survive, it must be persistent, and it must be resilient.  To be resilient, the goal has to be worth something to the people who pursue it.  When a ball bounces, it flattens when it hits the ground and then, in regaining its shape, it ALMOST returns to its starting position.  In regaining its shape, the energy moves it back up.  If it doesn’t regain its shape, it is splattered all over the sidewalk.  The resilience comes 1st.  But in order to get back to its starting position, it has to continue to add energy when it comes to the apex of its trajectory.  Something has to keep boosting the ball or it never gets all the way back up.  That would be persistence.

The resilience of the organization with the missing treasurer begins when the group decides it will replace the money by raising funds in some way:  soliciting donations, garage/bake sales, performing a service of some kind would slowly bring up the treasury of the group.  Do the vision and the goals expressed by the group move them to act on these suggestions?  Only if they mean enough.  If the group decides it is worth the effort, persistence kicks in to help them continue even if it looks improbable that their projects will ever succeed.

In the scenario involving staffing after the best salesman quits, the resilience comes in when you bring the matter before the other members of the team.  They must be convinced that the effort involved in doing commission work will be worth it.  What are the rewards of getting paid directly for your efforts?  Can you earn more than someone that relies on a salary?  YES!  Can you earn less?  yes. Can you work your own schedule?  YES!  Can you not work your own schedule?  yes.  Can you work your own schedule on a salary?  No.  Can you not work the schedule you’re handed on a salary?  Definitely Not.  Do you have the choice here?  YES!  Do you have the choice there? NO!  Then you give the same speech to your prospective employees.  The ones that opt for safety will not be good at commission work.  You must restore the faith in the group to regain the “shape” of your group, and then be persistent in recognition of your current crew and in hiring and training new people.  Resilience first, followed by persistence.

If you cannot affect the economics of your area, you have to be resilient enough to handle setbacks such as rising dues or a diminishing market, and creative enough to find solutions that will keep the spirit of your people up.  Once the resilience kicks in, the persistence keeps it going.

He could have quit.  He should have quit.  The resilience inside him got him to a standing position, and he hopped and limped down the track.  His hamstring was torn.  The recovery time for a torn hamstring is 3-6 months and surgery.  He’d be lucky to get back to a condition where he could run competitively again.  He knew he couldn’t win, but winning at that point was not the goal.  Crossing the finish line was the goal.  Finishing the race to the best of his ability was the goal.  But as you can see, he had support.  His dad gave him the courage and the will to persist to the finish line despite excruciating pain.

People will persist if they can see the goal is worth it.  They will be resilient if they know they have the support of those around them.  They will work to succeed because what gets them into the group or the corporation is what keeps them working toward the goal.  The desire to help someone, the need to be appreciated for work well done, and the compensation and the rewards/bonuses have an effect on their families.

Resilience and Persistence go hand in hand.  You can be resilient, bouncing back time after time from setbacks, but without persistence, you just get tired and quit.  You can be persistent and continue to work for a goal, but every setback will put you further behind, and unable to regain your “shape”–your goal and your desire to reach it, it will be easier and easier to quit.  To Truly be successful, you must have both resilience and persistence working together.

Business Essentials: Know Your Value!

Know your value The Story

I’d like to share with you a quick story about your business and why you need to know your value.  It is my hope that by reading this, you may be more willing to understand and demand what you are worth.

A colleague and I were sitting down with a potential client not long ago.  This person had heard that we had recently written a book and wanted our help in writing one.  Of course, we are happy to help people to write a book, but we also consider it a service to the client to ensure that what we do is actually going to benefit the client.  In accordance with good practice, we had a long conversation to try and isolate the desired outcomes for the planned book project.

After some discussion, we began to realize that the client has developed a highly specialized skill set in a very close knit industry.  There are generally only a few dozen practitioners of this particular service.  The client’s boss had carefully crafted a set of processes that could be employed for tremendous value in uncommon but critical moments.  The boss was widely known and respected and, consequently, had great demands upon his time.  Our prospective client had approached the boss about capturing these skills in a book.  The boss had indicated that the idea had merit, but indicated that due to the demands on his time, he couldn’t write the book himself, and he challenged our prospective client to write the book.

And that is how we came to have this conversation.  Our client wanted to create a book describing how the firm did what they did.  It was at this point that my colleague and I both started recognizing some real concerns about the business case for the book project.  We found it unwise to provide detailed descriptions of the “secret sauce” of their corporate expertise.  I was trying to draw the client’s attention to the value proposition of book idea.  In any business, it is important to know your value.  But after raising our concerns, our client didn’t seem to understand the basis of our concerns.

Undeterred, I tried to illustrate our concern in the following way:

I asked, “How long has your boss been performing this service?”

“Ten years.”

I then asked for the boss’s hourly rate.

“$175 an hour.”

“So, assuming a conservative workload of 40 hours a week for 50 weeks a year, we can estimate your boss works at least 2000 hours a year.  He’s been doing this for 10 years and at an hourly rate of $175 an hour, this means that your boss’s experience and expertise could be fairly valued at least $3.5 million dollars—and here you want to give away that much value for the cost of a paperback.

After that comment, our client’s face looked confused—struggling to grasp the significance of the comment.

I continued, “Listen, I think it is a great thing that you want to pass on useful and specialized skills to others in your industry.  It’s obvious that this will benefit them.  All we’re saying that it should work for you, too.  Don’t you think that the value you offer is worth more than the cost of a book?”  We then went on to talk about creating educational content for participants at a more favorable price point.

Takeaway

The point of the lesson is that it is vitally important to appropriately value your offering.  Not only is this a function of one’s realization of the economic value of what you have to offer, but also to have the self-esteem necessary to demand appropriate compensation for that value.