Five Benefits of Losing Your Star Players

My team is undergoing a tremendous amount of change as several of our long-term, star players are moving on to other opportunities both in and outside the organization. For several years the composition of my team has remained relatively stable but now we’re entering a new phase of growth, which is both scary and exciting. It seems like each day I’m having the old Abbott and Costello “Who’s on first?”conversation with my managers, as we try to sort out who’s going, who’s staying, and how we’re getting our work done.

It’s easy to get discouraged when top performers leave your team. The immediate reaction is often to look at all the challenges that lay ahead — How do we replace the intellectual capital that’s walking out the door? Who is going to cover the work while we hire replacements? Will the new hires be able to match the productivity and contributions of the previous employees? All those questions swirl through your mind as you ponder the endless hours you’re going to have to invest in recruiting, interviewing, hiring, and training new team members.

Rather than being discouraged, I’m energized and looking forward to the future because the long-term benefits outweigh the short-term difficulties. Here’s five benefits I see to losing top performers:

1. It proves you’re doing something right. Huh? Doesn’t it mean that something must be wrong with your leadership or team dynamics if you’re losing your top people? Well, if you’re a toxic leader and your team’s morale and performance is in the tank, then yes, there’s something wrong. But if you’re doing a good job of leading it means you’re hiring the right talent and developing them to high performance. I take a little pride in knowing that other leaders see the immense talent I have on my team and they want to hire them away.

2. Your team is better off for their contributions. The contributions of my star players have helped raise the level of professionalism, productivity, and capability of my team over the last several years. They have redefined what “normal” performance looks like and we’ll be looking to existing team members and our new hires to reach that same level. We are better off for having them on our team and I believe they are better off for having been on our team.

3. It provides a chance for existing team members to step up. Losing valuable contributors is an opportunity for other team members to step up their game, either by moving into higher levels of responsibility or by taking on short-term duties to cover the gap. When you have several high-performers on a team, it’s easy for other valuable team members to get buried on the depth-chart (to use a football metaphor). Losing a star player allows second-team players to step into the limelight and prove their capabilities.

4. You can bring in new blood. Having long-term, high-performers on your team brings stability and continuity. However, stability and continuity can easily become routine and complacency if you aren’t careful. Hiring new people brings fresh perspective, a jolt of energy, and a willingness to try new things you haven’t done before. Teams are living organisms and living entities are always growing and changing. I see this as a new era to bring in a fresh crop of star players that will raise our performance to even higher levels.

5. It facilitates needed change. Bringing in new team members is a great time to address broader changes in your business. You have new people who aren’t conditioned to existing work processes, systems, or ways of running your business. They aren’t yet infected with the “that’s the way we’ve always done it around here”virus that tends to infiltrate groups that stay together for a long time. It’s a time to capitalize on the strengths and ideas of new team members to help you take your business to new heights.

Losing high-performers is never easy but it doesn’t have to be devastating. I’m grateful to have worked with star players that are moving on to other challenges and I’m excited about developing a new wave of top performers that will lead us in the years ahead. It’s time for change…Bring it!

Zacks Equity Research, On Thursday July 28, 2011, 4:10 pm EDT

The restaurant industry is finally showing improvements and seems poised for long-term growth. Riding on the back of a slowly reviving U.S. economy and the consequent rise in comparable-store sales, restaurant operators have managed to post improved results in recent months. We expect restaurant companies to continue delivering better numbers in the upcoming quarter over the year-earlier period.

In second quarter 2011, most big names in the industry outperformed the Zacks Consensus estimates. More good news came from the NPD foodservice market research report, which stated that annual visits to restaurants are expected to increase by 8% over the next ten years.

A recent survey by the National Restaurant Association revealed that the Restaurant Performance Index (RPI), measuring the health and outlook on the U.S. restaurant industry, was 99.9 in May, down 1.0% from April. The slowdown in May was temporary.

For the first time in six months, the RPI stood below 100 in the month. The RPI run-rate in the last six months connotes improvements in same-store sales and customer traffic.

The Current Situation Index, which measures comparable-store sales, traffic counts, labor costs and capital expenditures in the restaurant industry was 99.2 in May, down 1.1% from April. The Expectations Index, which measures restaurant operators’ six-month outlook on the above indicators, stood at 100.6, down from 101.5 in the prior month. Restaurant operators’ capital spending plans are also on the rise, reaffirming their optimistic outlook on the industry.

Going Forward

Looking ahead, we see solid top-line trends. We believe well-positioned companies will drive above-average traffic trends and enjoy pricing power, leading to same-store sales increases in 2011. The economy is continuing to improve, albeit at a modestly lower rate, but a sluggish labor market, over-supply of restaurants in the industry, higher gasoline prices and food cost inflation may weigh on industry profitability.

Restaurants have been trying to win back cash-conscious guests by revamping promotions, offering discounts and focusing on value-for-meal menus. However, the tendency to offer discounts has been moderating. We remain cautiously optimistic over the near-to-medium term, with consumers continuing to look for value, distinct dining experiences, as well as convenience and enhanced menu deals in a gradually improving economic backdrop.

Drivers of the Restaurant Industry

The U.S. restaurant industry consists of Quick Service Restaurants (QSR), Midscale Restaurants, Casual Dining, Non-Commercial and Fine Dining/Upscale restaurants.

In the midst of what is considered to be a moderate recovery, there are three potential drivers of net income growth for the restaurant industry: unit expansion, same-store sales, cost-containment efforts and marketing tools.

Unit Expansion: Emerging from a lackluster economy, most of the companies have accelerated their pace of restaurant openings. With the expected recovery in consumer confidence, companies are turning back to unit expansion, though not aggressively.

BJ’s Restaurants Inc. (NasdaqGS: BJRI – News) plans to open 12 to 13 restaurants in fiscal 2011 compared with 10 restaurants in fiscal 2010. In the long run, there still exists room to open at least 300 outlets. Chipotle Mexican Grill Inc. (NYSE: CMG – News) plans to open 135–145 new restaurants in 2011, maintaining a growth rate of 13%.

In fact, the companies are set to explore international markets. While Chipotle is primarily concentrating on European countries including U.K., Germany and France, Buffalo Wild Wings Inc. (NasdaqGS: BWLD – News) will expand its overseas footprint by opening more than 50 company-owned and franchised restaurants in Canada over the next 5 years. Another restaurant, P.F. Chang’s China Bistro Inc. (NasdaqGS: PFCB – News) has also eyed the Canadian market.

Darden Restaurants Inc. (NYSE: DRI – News) announced a formal area development agreement with Americana Group to spread its operations in the Middle East. Several food chains including Denny’s Corp. (NasdaqCM: DENN), Pollo Tropical of Carrols Restaurant (NasdaqGM: TAST – News) and Starbucks Corporation (NasdaqGS: SBUX – News) intend to tap the fast-growing Indian market.

McDonald’s Corp. (NYSE: MCD – News) and Yum! Brands Inc. (NYSE: YUM – News) already have considerable coverage in India. Companies like Yum! Brands and McDonald’s are aggressively expanding in China to capitalize on the fast-paced economic growth in Asia.

Same-Store Sales: The second driver consists of menu price increases and traffic counts. Restaurant operators reported positive same-store sales and customer traffic growth in recent months. Growth in menu price has accelerated, as per figures from the Bureau of Labor Statistics.

Cost-Containment Efforts: Some cost cuts have been achieved through integrated information systems, including point-of-sale, automated kitchen display, labor-scheduling and theoretical food cost systems.

Marketing Tools: Social media as a marketing tool has created ripples in the industry. As per National Restaurant Association, 8 out of 10 operators support the view that social media will become an important marketing tool in the future. Hence, they are likely to incorporate Facebook, online review sites, Twitter and blogs into their marketing mix over the next two years.

OPPORTUNITIES

With the economic outlook improving, the fortunes of a number of industry players have turned around. These companies promise long-term growth opportunities:

Buffalo Wild Wings (NasdaqGS: BWLD – News) offers investors one of the strongest growth stories in this space. Buffalo Wild Wings had also been able to consistently deliver positive comps during the height of market turmoil.

With consistent earnings and a healthy balance sheet, McDonald’s (NYSE: MCD – News) provides relative safety and moderate growth opportunities in the current scenario, as well as exposure to faster-growing international markets. McDonald’s U.S. comparable-store sales have been showing continued uptrend since the last few months on strong sales of beverage as well as core menu products.

Boasting a unique position in the hyper-competitive bar and grill segment, yet another stock, BJ’s Restaurants (NasdaqGS: BJRI – News) offers investors a strong growth story with a viable business strategy and debt-free balance sheet. The company delivered impressive second quarter results in terms of earnings per share and same-store sales growth.

Improved Californian Market

The core California market, which was badly hit by the recession resulted in a high rate of unemployment and weak consumer confidence, has started to turn around. We see plenty of growth opportunities in the California and Texas markets. BJ’s Restaurants and Red Robin Gourmet Burgers Inc. (NasdaqGS: RRGB – News) are expanding rapidly in California.

Job Growth in the Sector

The restaurant industry is the major contributor to job growth in the U.S. According to the National Restaurant Association, Texas and Florida will likely show the strongest job growth over the next 10 years.

Remodels and Menu Innovations Remain Key to Success

Additionally, restaurants are accessing different means to plug the problems of heightened competition in a somewhat over-supplied domestic market. Companies continue to reduce their energy consumption and are remodeling their restaurants to give an up-market feel. They are rolling out new, smaller prototypes to augment the perception of value and drive traffic thereby reducing construction and occupancy costs to enhance returns on capital.

While Darden has embarked on an extensive remodeling plan for its core brands like Olive Garden and Red Lobster to spur their same-store sales, Chipotle Mexican Grill is introducing typical Southeast Asian cuisine coupled with naturally raised food, for which it is well known.

The introduction of small plates or individual appetizers by several chains such as California Pizza Kitchen, BJ’s Restaurants and Buffalo Wild Wings has already tasted success. Limited Time Offers are also on the rise following the success of Buffalo Wild Wings and Red Robin Gourmet Burgers.

Franchise-Driven Business Model

Most of the companies are transforming to more a franchise-centric model to reduce the volatility in earnings and increase cash flow generation. However, Panera Bread Co. (NasdaqGS: PNRA – News) is slightly more inclined toward company-owned unit openings, which speaks to the company’s fundamental strength and makes us optimistic on the stock.

Breakfast Menus a Key Driver

Breakfast has accounted for nearly 60% of the U.S. restaurant industry and remains a key driver of traffic growth in recent years. Over the past five years, morning meal traffic has increased at an average rate of 2% per year, while lunch visits were flat, and supper traffic declined 2% per year on average.

We can thereby conclude that growth potential remains mainly in the QSR markets. Leveraging the trend, The Wendy’s Company (NYSE: WEN – News) has expedited its breakfast menu in different markets. The company targets to have about 1,000 restaurants serving its new breakfast by the end of this year.

According to an analysis by NPD, which has a ten-year projection of foodservice trends based on aging, population growth and trend momentum, servings of breakfast sandwiches are projected to outpace the industry’s growth forecast. Annual servings per capita of breakfast sandwiches at foodservice are expected to jump from 11 in 2004 to 14 in 2019.

Currently, there are a number of stocks in the restaurant industry universe with a Zacks #2 Rank (short-term Buy rating). These include BJ’s Restaurants, Buffalo Wild Wings, Chipotle, Darden, McDonald’s.

WEAKNESSES

Higher Food and Gasoline Prices

Food costs account for about one-third of restaurant sales. Wholesale food prices have been on the rise this year. Prices of corn, wheat, coffee and other commodities have also trended up, mainly due to a decline in the U.S. and Russian production prospects, compelling many restaurants to raise prices on some of their products.

The companies are expecting industry-wide increases in commodity and energy costs for fiscal 2012 as well. Dairy and beef prices witnessed a steep rise on a year-over-year basis.

With more expensive food and a spike in gasoline prices, people will have less disposable income and will prefer to dine at home. In our opinion, most of the restaurants will try to safeguard their margins by passing the cost increases to consumers. While big and established chains like McDonald’s, Yum! and Starbucks will survive the price increases due to their broad customer base and larger economies of scale, smaller chains will feel the heat of rising commodity costs.

Steep Competition and Promotional Offers

Competition among casual dining restaurants is expected to remain fierce with respect to price, service, location and concept in order to drive traffic. The environment is still value-sensitive. High discount rates applied to menu prices in order to battle difficult economic conditions are resulting in price wars among competitor companies.

Hence, the failure of any promotional offer will put pressure on the company’s same-restaurant sales growth. Dishes featured in the Olive Garden promotion from February to May failed to be accretive to Darden’s growth, for instance.

Shutdown of Regional Restaurant Chains

A large number of independent U.S. restaurant units fell victims to the downturn, while chain restaurants did relatively better. Large national chains, which attract mainly higher-income visitors, are performing better than regional restaurants as upscale-customers are recovering faster than the lower-income group.

Lag in Traffic Growth Barring Fast Casual Restaurants

According to a recent NPD foodservice market research report, visits to the leading fast casual restaurant chains grew 17% over the last three years while the rest of the industry experienced its steepest traffic declines. However, fast casual unit availability increased 12% since 2007.

Visits to the leading fast casual restaurant chains like Chipotle and Panera were up 6% for the year ending December 2010 versus a year ago. This compares with a 1% decline in total industry visits for the same time period.

Given the lack of overall earnings catalysts, it is difficult to be enthusiastic about a number of restaurant stocks. There are still quite a few names that lack the earnings catalysts of their better positioned peers. These include Brinker International Inc. (NYSE: EAT – News), Yum!, The Cheesecake Factory Inc. (NasdaqGS: CAKE – News), Einstein Noah Restaurant Group Inc. (NasdaqGM: BAGL – News) and Domino’s Pizza Inc. (NYSE: DPZ – News), all of which retain the Zacks #3 Rank (short-term Hold). Jamba Inc. (NasdaqGM: JMBA – News) and Denny’s (NasdaqCM: DENN) retain the Zacks #4 Rank (short-term Sell).

Conclusion

The restaurant industry is not immune to uncertainties in the macro economy. Companies appear to be in a good position to take advantage of an improved economy as evident from their capital budgets. Easy comparisons from the prior year will likely place this year’s performance in a favorable light.

On the consumer front, while they were previously struggling

By Liz Goodwin | The Lookout – 3 hrs ago

A study by the National Employment Law Project finds that middle-wage jobs–those that pay between $13 and $20 an hour–have been the biggest casualty of the recession. This year’s job market has 8.4 percent fewer jobs in that pay range than existed prior to the onset of the crash in 2008.

This is leading to an “hourglass economy,” the researchers write, with disproportionate numbers of Americans finding themselves at the top or bottom of the wage scale.

Most of the job growth since the recession has been in low-wage jobs, which shot up 3.2 percent in 2010, even as real wages for those workers have declined. The researchers say “retail salespersons, office clerks, cashiers, food preparation workers and stock clerks” have seen the fastest growth in available positions.

The economy has seen a 4 percent drop in higher wage jobs (those paying between $20 and $53 an hour) and a .3 percent decline in low-wage jobs since early 2008. But those wage sectors have still sustained a better recovery than mid-wage jobs have.

The lag actually pre-dates the ’08 collapse, researchers say, with mid-wage occupations such as machinists and pre-school teachers growing at a markedly slower pace than higher-wage and lower-wage jobs did. “Growing wage inequality in the United States is a phenomenon that’s three decades in the making, and which the recession

It never ceases to amaze me how many times when speaking with potential candidates and discussing the different job openings I have available, someone says “go ahead and send me into XYZ Company”. I then ask them what they know about the company and they say “I really don’t know anything about them”. My response is usually at that point, “how can you know if you want to work for a company that you know nothing about?” I will usually give them some basic background knowledge and information, but I always make sure to tell them to go online and do some research about the company to see of it is going to be a fit for your style and culturally. Once you know about the concept and if you are still interested, then we will move forward in the process. But DO YOUR HOMEWORK FIRST! This is the only way you can make an intelligent decision when the time comes and an offer is made.
Also, it is very important just prior to any interview that you take the time to go over the company website of who you are interviewing with so that their information is fresh in your mind. You should know as much about the company as is possible to find out online. Things such as important people within the organization, if it is a publicly traded company the financial track record, the menu, current marketing and advertising campaigns, the company history, unit locations, new store openings, etc.
Most interviewers will ask at some point during the interview “what do you know about our company?” or “why do you want to work for XYZ?” If you have not done your homework and you go into the interview with little to no knowledge, it will show glaringly during this question and answer stage. This is the one point in the interview where you can really make a great impression and shine and show how much you really want the position by impressing the interviewer with your knowledge about the company. If you have a great answer to this question and can answer it with confidence, intelligently and with enthusiasm, this can be the answer that puts you over the top in the mind of the interviewer. Conversely, if you do poorly in conveying any standard knowledge about the company, it most likely will cause the interviewer to cut the interview short as they will think you do not have a genuine interest in them as a career choice, but rather just in need of a job. So make sure that you take the time before considering any company, that you do your homework, before deciding whether to pursue them. And more importantly, DO YOUR HOMEWORK prior to any interview to insure that you are set up for success. Remember, the more preparation you put into an interview, the more your chances of success. And make sure you have some questions prepared ahead of time that asks about the company and its culture and its people.
If you follow these guidelines, you should expect to have good results.

Good Luck!

Leadership Caffeine: If You’re Walking on Eggshells, Something is Wrong

January 24, 2011 by Art Petty

Overheard from Various Managers:

“I have to walk on eggshells around her.”

“He’s volatile, and I don’t want to upset him, so I steer clear and let him do his thing.”

“I’m afraid to confront her.”

“He’s too valuable to the firm, so we all kind of look the other way.”

How Much Energy are You Expending Trying to Walk on Eggshells?

While it’s doubtful that many of us have ever literally attempted to walk on eggshells, the phrase is idiomatic for those situations where we are fearful of confronting or even engaging with someone lest we draw their attention or raise their ire. I reference these individuals as Attitude Bullies.

As an early career leader, I recall one individual who masterfully exuded disdain and annoyance every time I approached him. Whether it was real or just an act to keep the boss away, it worked until I recognized that I could not do my job while ignoring this character.

I’ve observed as other individuals have allowed toxic employees to manipulate team and office dynamics by creating an “aura of fear” to keep people in check.

And in what may be the most commonplace of all situations, many leaders excuse the behavior of these characters by rationalizing the situation. “He’s the best at (insert activity), and we can’t afford to lose him.”

If you can relate to any of the situations above, or, if you have your own special Attitude Bully that you find yourself “walking on eggshells” for, it’s time solve this problem.

(Note: my focus here is on situations where your primary fear is, “fear of reaction.” If you sense fear of physical reprisal, stop reading and engage your manager and HR department immediately.)

Six Ideas for Clearing Away the Eggshells and Coping with Attitude Bullies:

1. Engage. Your instinct is to avoid and ignore. Do the opposite. You need to cultivate a formal boss to employee relationship with the individual in question. Without engaging fairly and professionally with the Attitude Bully in question, you have no behavioral basis for feedback, coaching or ultimately, some form of discipline, including termination.

2. Clarify Accountability. The Attitude Bully understands that his/her approach results in different standards for accountability compared to the broader population. You need to eliminate any opportunity for a double standard by clarifying the individual’s responsibility for results. And while some feedback purists may disagree, the results include actual outcomes as well as process and engagement quality. One manager used post-project performance evaluations from team members and the project manager to facilitate discussions on interpersonal approach, attitude and other behaviors. Regardless of approach, the Attiude Bully must understand what they are accountable for in terms of results and workplace behaviors.

3. Observe Often, Reinforce Positives and Tackle Negatives.  Neither the Attitude Bully or anyone around you will take you seriously until you hold this person accountable for their results and for their behavior. The best way to manage this situation is to observe the individual’s work with others as much as possible. If the individual is a true individual contributor without much team involvement, it’s all on your shoulders to engage often enough to offer quality, behavioral feedback. Tackle performance issues immediately and provide positive feedback as long as it is merited.

4. Warning! Don’t Apologize or Attempt to Praise Your Way Forward. It takes time for some managers to overcome their fear of Attitude Bullies, and those initial steps to engage are awkward and even frightening for some. Beware the tendency to engage by apologizing for your intrusion, and resist the urge to offer positive praise for behaviors that simply meet the standards that everyone else is accountable for. You only weaken your case with the Attitude Bully when he observes your visible discomfort via false praise or excessive apologizing.

5. Build on Progress. More than a few Attitude Bullies have responded to appropriate attention from the boss by becoming productive members of the workplace environment. While I’m practicing without a license on this one, I suspect that some behaviors are cries for attention and for respect. Your willingness to pay attention to someone is a powerful motivator.  As you observe positive progress, offer appropriate feedback and importantly, test the relationship by extending your trust on workplace responsibilities. Assuming that your trust is rewarded with results, keep it going.

6. Cut Your Losses. There’s a managerial due diligence process (different than a formal HR process) when it comes to dealing with Attitude Bullies. Your intent going into the “adjustment” process should not be to fire, but to help. Follow the guidelines above, provide clear feedback, document your interactions, and look for progress.

At the end of the day, if you are doing your job as a manager, your involvement will neutralize and even help the individual reform, or, you will have the basis for moving down the path of purging this workplace toxin. Ultimately, your issue is not about attitude, but rather about dealing with performance issues. You’ve got to engage to manage.

The Bottom-Line for Now:

Too many managers spend too much time walking on eggshells. They either avoid the Attitude Bullies or, they deal with them in a manner that reinforces aberrant behaviors. You’re much better suited to sweep the eggshells out of the way and engage to either build a better relationship or establish the basis for ending the relationship.   Don’t be afraid to reach out for help from a mentor.  Your only mistake here is to continue to try and defy physics and walk across the eggshells. You’ll crush something along the way, and it may be your future prospects in your firm.

12 Statistic-Driven Ways To Make Lasting First Impressions
Alyson Krueger | Dec. 16, 2010, 1:02 PM http://www.businessinsider.com

These successful types have a few qualities and skills that are psychologically proven to help them make positive first impressions — and they’re skills that anyone can learn.Before your next Job Interview, business meeting, or networking event, review these proven Interviewing Tips to become a master of first impressions.

1. Dress for success
Psychology studies reveal that first impressions are formed within 7 to 17 seconds of meeting someone; 55% of a person’s opinion is determined by physical appearance. In reality, what you wear is not a shallow consideration; it could make or break your meeting.
It is a good idea to dress conservatively when you meet someone for the first time (even if the office is known as being “funky” and “creative”). Be careful with loud accessories, perfumes, hair-styles and shoes that may be distracting; You don’t want someone to remember what you wore over your business skills.

2. Choose your words with care

Statistics show that first impressions are also determined by the words people use. In fact, 7% of what we think of others is based on what they say.
Before you meet someone for the first time, think about how you want to come across: optimistic, confident, humble, aggressive, innovative?
Then make a list of words you could use to convey these qualities. While you should not get hung up on this list during the meeting, having a selection in the back of your mind will help you choose words wisely.

3. Strike the right tone

Have you ever instantly disliked someone because their voice sounded brash, whiny or cocky? That is because 38% of person’s first impression is determined by tone of voice. Striking the perfect tone of voice is difficult: You want to appear calm but enthusiastic, confident but humble, determined but secure. Start paying attention to your own tone of voice as well others around you, then practice speaking the way you want to be perceived.

4. Readjust your body language

During face to face meetings, 93% of people’s judgments of others are based on non-verbal input like body language. How you stand, sit, and shake hands communicates a lot more than what you say. Good body posture, a nice smile, and eye contact are essential for making good impressions. It is equally important to avoid crossing your arms (which may signify boredom) or sitting too casually (which could indicate a lack of care).
It is easy to unconsciously strike a pose; stop every few minutes to notice how your body is positioned. You may be harming or helping your case without even knowing it.

5. Use someone’s name often

According to a Cal Poly Study, personalizing marketing materials, or addressing potential customers by their name, increases the likelihood that they will respond by 36%. People like it when they are singled out; cater to their ego and call someone by their name. As soon as you learn someone’s name, say it back to them and then repeat it throughout the conversation. When you are finished with the meeting, write them a personal note mentioning all the people you met by full name. While it may seem simple, people are more likely to connect with you if you make the effort to get their name right.

6. Be on time
Always be on time for a job interview. People are busy; one of the worst offenses you can commit is not respecting their time. Even better, arrive 15 minutes early. Spend a few minutes collecting your thoughts and walk into an interview composed. This tactic also leaves time for getting lost.
7. Focus on the other person

Talking to much about yourself will make you appear self-centered and bore your listener. Before your meeting, make a list of all the things you want to know about the other person: How did they get into their line of work? What business partnerships do they already have/are they seeking to cultivate? What are their business aspirations? Without getting too deep during a first meeting, show someone you are interested in establishing a connection with them; they will be more likely to want you on board as a result.

8. Be a good listener

35 Business studies analyzed by the International Listening Center indicated that listening is a top skill needed for success in business. Unfortunately, most people only retain about 50% of what they hear. Make an excellent impression by beating this statistic and demonstrating you are an exceptional listener right off the bat. Exchanges are always better if two people work together to keep the conversation going. React to comments with phrases such as “interesting,” “that makes sense,” and “could you tell me more about that?” Ask follow up questions; it will show you are engaged in the conversation and care about the subject matter.

9. Be careful with humor

Jokes are very hit or miss. One taken the wrong way can send you to social Siberia. While there is nothing wrong with a little banter, avoid controversial jokes or sarcasm that could be misinterpreted. Everyone is different; before you know someone’s sensitivities, it is best to play it safe and tone down the joke attempts.

10. Bring printed materials with you

Bringing materials to a first meeting automatically makes you look like a responsible, organized person. When appropriate, print out relevant documents such as resumes, business proposals, relevant statistics, transcripts, business cards and case studies. Carry them in an organized briefcase so you can find them easily once you sit down.The process will make the meeting run smoother and it should impress the person you are meeting. With that said, don’t go overboard; they’ll think you’re a know it all or that you’re trying too hard.

11. Do your research

Know as much as possible about the person you are meeting before you’re introduced. You will impress someone immediately if you can ask informed questions about their background and signify that you understand their interests/achievements. With an abundance of social media tools at your disposal, it should not be difficult to dig up some professional information. You might stumble upon a mutual interest or friend that you can drop into conversation for automatic chemistry.
12. Relax and be yourself

Everyone is nervous before a first meeting; there is a lot at stake and the stress can get pretty intense. The more at ease you are, the more the other person can get to know the real you. Before your meeting, do something that makes you happy: go to the gym, take a bath, listen to music. Instead of focusing on what’s at stake, concentrate on pumping yourself up. Make a list of your best qualities, give yourself a pep talk in the mirror, or call a family member or friend who can give you a boost.
During the job interview, pretend you are having a casual cup of coffee with a friend. If you get flustered, don’t panic; take a deep breath and keep going. Never assume you are making a bad impression; you never know what the other person is thinking!

Read more: Interviewing Tips-Job Interview