One question every person in charge should ask

There is not much of a silver lining to the Gulf oil spill, but people in charge – whether entrepreneurs, executives or longtime business owners – can garner valuable wisdom from one of the many mistakes that made the disaster more likely.

Potentially, busy with the severe recession, the financial sector bailout and the fight for a national health care plan, the Obama administration missed at least one ball it should have been keeping in the air: effective regulation of the oil industry in general and of deep-water drilling in particular.

The potent lesson for those of us in charge? There's a question we should ask ourselves often, and that we should grant ourselves the mental space and creative license to answer: What am I missing?

It's natural and tempting to get on a track and follow it, or to create a plan and execute it without taking the time and energy to step to the side and take stock - frequently. Are you missing opportunities? Not alert to certain dangers? Letting issues, people, money, or projects slide while you deal with everyday urgencies and tempests in a teapot?

It's true that people in charge have many of their best ideas while driving, showering or taking a vacation. Extend that freedom of mind into your everyday routine. Assign or put aside routine tasks to facilitate your own creative thinking. Read a business book on a new topic. Ask yourself if there's anything on your mind that you're not dealing with (it's often right there below the surface). Access your right brain.

What am I missing? I'm glad I asked myself. I'll ask again. And again.

Compelling selling.

Some people love the process of sales. For the rest of us, it's a challenge. That challenge is heightened during difficult economic times.

Following are some of the lessons our sales team has learned through experience, trial-and-error and the wisdom of others:

First, make sure you're selling something worth buying. Give yourself a break! Some people can sell ice cubes to citizens of the frozen far north, but the rest of us will do a lot better marketing something that has value to the prospect... even if the prospect doesn't know it yet.

In a tough economy, be ready to highlight the immediate benefits, cost savings opportunities, time saved, and other at-the-ready positives your product or service offers. Why? When money is tight, people tend to think short-term. Even corporations think short-term. In some cases, they feel they can't afford to do otherwise.

Stop talking. That's right. Learn about your prospect. What is s/he working on, concerned about and planning? Know this, and your sales message can address relevant needs.

Once again, stop talking. Once you've made your pitch, be quiet. Let your prospect ponder your offering, even let your prospect feel it's his/her turn to speak up. A little awkward silence at decision-making time can be a good thing.

Don't sell on price, but don't be insensitive to cost issues. In the end, cost will nearly always be a consideration. Just don't make it your selling point. Unless, of course, you have nothing else.

Be willing to follow up. We've all been subjected to fire-hose sales pressure. It's unpleasant. If what you're selling is of value, you can afford to be consultative. If you can't close the sale that day, ask when you can check in again. Sure, you may lose momentum... assuming you ever had it. Learn to know the difference between a prospect expressing genuine interest and one who is merely being polite to put you off.

Even if your prospects are thinking short-term, you shouldn't be. Someone who's interested in your product but not in a position to buy may be ready later. Too many salespeople drop the ball and lose longer term prospects.

Be likable. Despite online shopping, phone voice mail trees and other impersonal ways of doing business, personality still matters. When people are working with others, they gravitate toward those they like. Overbearing, single-minded and pushy aren't characteristics that come to mind when we say "likable." Consultative, warm, engaging, and having good listening skills are. Why does it matter? Because you want your prospects to take your next call or respond to your next email. You want their referrals. You want their business.

Painfully obvious PR from the man in charge.

"And I don't sit around just talking to experts because this is a college seminar; we talk to these folks because they potentially have the best answers, so I know whose ass to kick," proclaimed our president this morning in an interview with Matt Lauer on the Today show.

Some people may object to this remark because it is coarse. I object because it is disingenuous and clearly the brainchild of a media relations team. "President Obama! The American People think you're an effete intellectual. They think you lack emotion. They want to see you get mad!" And, "The American People do not want to hear about experts or scholars. They want you to get out there and KICK ASS!"

President Obama, polls or no polls, please speak with your authentic voice. Work with BP, work with everyone who can help clean up this terrible mess, build some regulations, kick some ass if necessary, but don't talk to us as if street fightin' is your way of life. Get real.

The oily truth.

It's the financial markets meltdown all over again, but this time we can smell it, slip on it and watch the Gulf of Mexico sicken. The two catastrophes have a lot in common. As a nation, we've been lulled too far toward  allowing the free market to police itself in high-risk industries. It's not working very well, is it?

BP CEO Tony Hayward admitted Thursday that the company was unprepared for an accident of this magnitude. In an interview with The Financial Times, he acknowledged that BP "did not have the tools" at hand to stop or contain the spill when it occurred six weeks ago. Of course, BP still doesn't have the tools.

I'm an entrepreneur and a fan of business, on the whole. It would be splendid if corporations could be relied upon to consistently behave in the best interests of the public. But they don't. The argument that an unbridled free market is the best option for the economy (let alone the environment) is proving itself hollow. The recent Great Recession and continuing questionable recovery has cost individuals, families, businesses, schools, and state and local governments dearly. We can thank short-term thinking, greed, hubris, and extraordinarily weak regulation of the financial markets for a good deal of what's ailed us since 2008. Now the largest oil spill in U.S. history highlights the same maladies.

We're deep drilling when we don't have either the comprehensive engineering preparedness or the truly at-the-ready remediation tools to prevent destroying our oceans, shores, fisheries, tourism, and more. We are deep drilling with weak safety regulations, some of which were disregarded in any case. Aren't we any smarter than that?

Leaders – business, government and community – must sear into our brains the truth that next month, next year and the next decade are at least as important as our immediate profits, trades, deadlines, and triumphs.