Recently, I dusted off a copy of a timeless classic, The One Minute Manager, by Kenneth Blanchard, Ph.D., and Spencer Johnson, M.D., after reading an interesting quote written by Malcolm Forbes: “Failure is success if we learn from it.” The thesis of the aforementioned book is that once an employee’s goal is achieved (or not achieved), take just one minute to manage their behavioral patterns with strategic praises or reprimands. This gives the employee a chance to experience praise when achieving success, or learn from their failures which in turn, as Forbes puts it, would be a success.
This led me to think that in some respects the best person for you to manage … is yourself. And, in the financial services industry, aren’t we our most valuable asset and our worst liablity?
Take one minute to make the best investment you can—an investment in yourself! “The One Minute Business Coach” is a process that you can use to evaluate your daily successes and failures so that you can better manage your behavioral patterns.
When experiencing a “win,” take one minute to write down why you were successful, what created the success and how you will repeat the behavior(s) that contributed to the success. When experiencing a “loss,” take one minute to write down why you were unsuccessful, what led to that negative outcome and what you will do differently next time to break that behavioral pattern. Do this and failures inevitably become successes because you learn from them.
Daniel C. Finley
Advisor Solutions Inc.
St. Paul, Minn.