Leadership Archives - Page 2 of 3

SBM #74 – Average or Great

Tagged as: 360 degree, average, crisis, customers, entrepreneur, great, higher value, mode, performance, prevent, priorities, success, systems

We all know how much work it takes to survive, let alone thrive as an entrepreneur. We have all put in the long hours and have faced disappointments along with the successes that come with the territory. Some days, you’re just freaking awesome. On others, not so much. It just feels like you’re taking one step forward and two steps back. Such is the life we have chosen!

You work your butt off to get the business, but somewhere along the line you or your staff drops the ball and turn in a less than stellar performance. This typically results in a call from an unhappy client that until you picked up the phone, you were totally oblivious to any problem, and now you start to scramble. Not only do you scramble for the right words to appease the client, but you scramble for suitable solution that will hopefully make things right. Sometimes it’s a simple fix, but more often than not, it usually costs you a chunk of your day and worse, a chunk of your profits.

Crisis Moment

If we’re to be honest, this has happened to everyone on occasion, but what really concerns me, is when this happens with such frequency it’s just accepted as another day paradise. Unfortunately, I see a lot of businesses that seem to operate in this constant crisis mode. If it wasn’t for the abilities of these owners to placate the customers, they would have ceased to exist long ago. But seriously, what a waste of energy, talent and resources.

If we could just step back for a moment and look how much effort goes into “making things right” with the customer, it really is a shame. What if all that energy could be focused on moving the company to the next level or to deal with higher value initiatives, instead of wasting it on fire fighting activities that should have never occurred?

How do you want it done?

The thing is, it takes just as much energy to have a great company as it does to have a mediocre one. The big difference is in order to create a great company, you need to take the initiative and be proactive by doing the following:

● You need to set the priorities.
● You need to train your people.
● You need to create the systems.
● You need to set the minimum acceptable performance thresholds.

If you noticed, the operative word being “you”! You have to roll up your sleeves and you have to figure out what you want and how you want it done.

In some ways, constantly operating in crisis mode is easier, you just let it happen and then react to it when it comes up. That way you can spend the rest of your time, if there is any, blissfully ignorant of all the problems. But this is a highly stressful way to run a business and your life and to be honest, it gets really tiresome after a while.

The right moment will never come

Alternatively, if you want a calmer work environment, then you’ll need to take a proactive approach. The problem is, it’s all about you. It all rests on your shoulders to start the transition. The challenge of course, if you’re already living in small business hell, is you’ll need to dig even deeper to find some time and the energy to start making the changes. Let me caution you, that if you think you need to wait for just the right moment start to making changes, you’re only fooling yourself, because that moment will never come.

So, in order to break this logjam of when to start, my best advice, is to start right where you are. Stop what you’re doing, take a deep breath and ask yourself these 5 questions:

● What is the current crisis you’re dealing with?
● What went wrong?
● Is this a recurring issue?
● What could I have done to prevent this?
● What can I do to prevent this from happening again?

When you ask these questions, make sure you do a 360 degree look at the situation. It’s really easy to lay the blame in the wrong area, because chances are it’s a combination of missteps. Throwing your hands up and saying you shouldn’t have to worry about this stuff is what got you here in the first place and is not going to fix anything. You do have to worry about this stuff.

It’s a teaching moment

Once you’ve identified the root cause of the problem, lay out a plan to ensure it doesn’t happen again and make sure everyone involved, knows.
You need to understand that people want to learn and to be better. It’s your job to teach them, because that’s what leaders do, to show them a better way. So, this is not a time for screaming and yelling, it’s a teaching moment.

Hoping and praying that things will get better all on their own, is a fallacy. When you started your company you had a vision. Unfortunately, somewhere along way it has gone sideways and now you find yourself wondering what you’ve got yourself into and you’re probably tired of it.

Letting people know what you expect done, how you expect it done and when you expect it done, will go a long way to transition your business from average to great.

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Greg Weatherdon has been there, done that. As an entrepreneur, he learned not only how to get a business to the point of running smoothly, but also how to reduce the number of hours he worked, delegate more responsibility to his employees, and take longer vacations while his business chugged along like a well-oiled machine. And now he is providing the secret to success.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

SBM #73- Incentives, the Owners Dilemma

Tagged as: business, dilemma, employees, entrepreneur, incentives, owners, small business expert, Small Business Minute, staff

Podcast: Play in new window | Download

Small business owners are faced with a myriad of challenges every single day. If it isn’t sales, then it’s receivables and if it isn’t receivables, it’s operations. Add to this the hundreds of thoughts they are juggling trying to sustain their enterprises. Always at the top of their worry list is how to keep their staff focused and motivated.

Unlike much larger corporations, small business owners usually don’t have the financial resources to implement sophisticated incentive programs. A big part of the problem in smaller organizations is that the employees usually wear more than one hat or have overlapping responsibilities.

Of course, we can argue that this isn’t efficient or effective, but it’s the way it is in so many owner operated companies. Compounding the situation is that most owners are not skilled in human resources, as their expertise tends to lie in other areas of the company, such as manufacturing or sales.

So, in order to offer up any type of solution we must first look into the mind of the entrepreneur to understand why creating meaningful performance initiatives can be so challenging.

Time

Time is a precious resource for everyone but even more so for an owner. With a finite number of hours in a day, week or month, the typical owner must prioritize where they are going to spend their time. Inevitably, any and all activities that contribute to generating or maintaining short term revenues are usually contenders for the top spot.

Even though we could argue that a well executed incentive program could provide significant operational gains, the reality is that scoping out a plan requires time that so many owners just don’t have. If the truth be known, most owners would rather focus their attention on other priorities under the guise that they’ll get to it soon.

Money

With any incentive program, there is an expectation on behalf of the employee that there will be a payoff for doing more or doing it better. This has been ingrained into our psyche since we could first walk in the form of allowances, rewards for good behaviour or achievements. Right or wrong, there is an expectation.

What few people realize is that owners are conflicted in taking care of their personal needs versus paying some form of bonus to their staff. You see, a great number of owners are not paying themselves an acceptable wage putting the company and staff ahead of their needs. This sacrifice usually transcends the workplace as it puts tremendous pressure on the owners family life. If you don’t think so, try telling your spouse that there isn’t enough money to take a paycheque again this month all the while paying out a performance bonus to the staff.

Type of Rewards

Again, the business owner is challenged in how to reward individuals because revenue and profitability if far more volatile in smaller organizations. So, even if they can afford it in the short term, there’s a potential that it can’t be sustained over the long haul and therefore, it’s just easier to do nothing.

But instead of doing nothing, the simplest way I found is to structure any incentive program as a project with clear start and end dates. That way they don’t become expected and gives you tremendous flexibility to create incentives based on the needs of the organization at any given time.

So, what are the solutions for a small business owner? How can they affordably launch an incentive program that satisfies all the stakeholders?

Keep It Simple

Ideally any program should start small. The owner needs to know what they can handle. Many get overly sophisticated in designing their programs and don’t consider how they are going to capture the information, let alone monitor it.

Make the objectives clear and straight forward. An example would be – to reduce the after sales service calls by 20% or increase billable hours by 4%. These examples are simple and measurable. Because implementing a program and then not being able to properly measure it is a recipe for disaster and a waste of time. Plus, there is a huge risk that it will likely cause ill-feelings when nothing ever comes of it.

Get Creative

The default idea for most people is that an incentive needs to be a monetary reward. In keeping with my previous comments this becomes a challenge for the business owner. Fortunately, people covet other things that may have far more value than money. Such as, offering time off in lieu of a cash related compensation will be far more valuable to many employees.

For instance, someone with children who would prefer a day off with pay that they can use when the school board has a PD day. What about the individual who has elderly parents that they need to assist with appointments? Even the single person would enjoy an extended weekend without having to dip into their vacation pool.

How is this any different from cash to the entrepreneur? Since salaries are usually a fixed expense, giving someone a day off, isn’t costing the entrepreneur anymore money.

Getting a little imaginative when trying to create an incentive is not that difficult. It just requires a little thought. But whatever plan you put into place, you must follow through or you risk turning an incentive into a disincentive.

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

SBM #61 Training Your Team

Tagged as: customer service, knowledge, sales, small business, small business expert, Small Business Minute

Podcast: Play in new window | Download

Reading Time: 5 mins

We all have our own definitions of training for our team, but in all honesty, most of it sucks. Sure, for customer facing team members, we do the mandatory, how to acknowledge a customer stuff, with all the expected please and thank you’s.

It also goes without saying that we spend time teaching them “the system”, whether that be a retail POS or other software necessary to capture and order or process payment. Add to that the mandatory workplace safety and theft prevention training, we usually feel pretty good about our efforts.

This whole area of training, has been a sore point for me for quite some time and two situations minutes apart has made me want to revisit this topic. The extreme difference in the size of these two retailers served to reinforce how deficient product knowledge training is compared to the above mentioned items. One is a local franchise retailer whereas the other is part of a global department store chain.

Let’s begin with the local retailer. This is a specialty store whose main business is selling coffee pods and teas. Judging by the inventory, it would appear that the majority of their sales are Keurig pods. As we were looking for a specific brand of coffee we found on a recent trip, I used the opportunity to ask a couple questions regarding the availability, compatibility and difference between the original Keurig machine and the 2.0 machine. Theses are machines that they sell along with the coffee.

One in three

After and few hums and haws, the answer I received, and I paraphrase, was “I think so”. What made this so noteworthy was that another gentleman was in the store ahead of us and was asking some, what I thought, basic questions and the clerk was only able to answer one of his three questions.

Seriously, this is a specialty store and people were asking about the products in the store. Aside from basic pricing information and availability of some products, the individual had limited knowledge. As a specialty store, the staff should well versed on all products in the store. Why should a customer even bother to make a special trip to this store, when many of the brands they offer are available at the local grocery store?

The thing is, people usually frequent smaller stores in anticipation of receiving something, whether that be service or knowledge, not available at mass merchants and most will pay a small premium for it.

The sad part is, this is a store that I had been meaning to visit more than once and frankly I had expected more. Future trips, if any, will be very infrequent. What a missed opportunity.

Within 30 minutes of the previous experience, I headed to a major department store in search of some new luggage. My current bags had been run over once too often by airport baggage handling equipment and in dire need of replacement.

After spending 20 minutes in the department checking out their offerings a staff member finally showed up. With such a wide assortment of brands available, it’s difficult to determine which ones are quality versus value.

Looking for answers

As my interest was in purchasing a quality product that would last, I proceeded to ask the clerk which were the best brands for durability. She responded by saying Samsonite and Travelpro. So I asked why Travelpro? The answer I got was that they invented the roller wheels and that an airline pilot came up with the idea. It’s one of those replies that leaves you thinking, so?

My next question, was what makes them, Samsonite and Travelpro so good? Is the construction better? To which the respondent said they have a better warranty and yes, they’re better made. Again, it left me wondering how are they better made?

What I had expected was a little more in-depth answer along the lines of, they use a higher quality of materials or maybe they have greater structural support. This would have been an ideal time to show me the difference by opening comparable size items and point out the differences. But no, I was told that if I had any more questions that she would be right back!?

Clearly, this person had no idea what the product differentiators were and no doubt only sells based on price, or worse what the customer brought to the counter to purchase. The point is, I was fully prepared to purchase had I received the information I needed, but unfortunately, they were ill prepared.

Training should be mandatory and ongoing

Acquiring product knowledge is not difficult. The internet is a treasure trove of information on individual products and services. Better still, reach out to your suppliers and find out what they can do to help. Lunch and learn by manufacturer reps is just one way to get free training. Maybe the manufacturer has in-house data that they can share?

The point of all this is to say, that product knowledge training should carry, at minimum, equal weighting as processes. Taking the time to prioritize product knowledge and encouraging employees to do so on their own, will positively impact sales. The reality is that there are just too many alternatives in our hyper competitive environment, not to do so.

Yes, there has always been and always will be “tire kickers” who research products everywhere they can and then buy online or from a lower priced competitor. But that’s nothing new.

To counter that point, people are also very busy. Many just want to be served in a professional manner, by knowledgeable individuals. They are more than willing to buy from a company that will provide them the help and information they need to make an informed decision.

Training can be formal or informal, but it should be a priority, made mandatory and of course ongoing. Part of that training is to instill with the individual the desire to learn and explain the benefits of expanded knowledge, not just for the company but for the individual as well. People need to understand “what’s in it for them” and once they do, they’ll become self-motivated and everybody wins.

It’s no wonder the Amazon’s of the world are shipping more and more product everyday. Businesses of all sizes must realize that training is paramount, if they’re going to survive in this new age.

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

Podcast: Play in new window | Download

Read Time: 3:58 minutes

I often get approached by entrepreneurs who are facing significant challenges in their businesses. By significant I mean – They’ve dug themselves into a hole so deep that they’re going to go out of business if something doesn’t change! So, my first piece of advice courtesy of Will Rogers , the American humourist is, “When you find yourself in a hole, quit digging!

As far back as I can remember, I’ve always been the person called upon to help fix a situation. For the less urgent ones, I’m more of a troubleshooter, as I usually had some time to assess the problem or problems and then sketch out a game plan.

On the other hand, when I’m approached by an owner with an urgent challenge, I usually take on the role of a firefighter. This is because the situation is critical and there is no time for naval gazing and strategizing. It’s a time for action. It’s more akin to a scorched earth approach, whereby nothing is sacred.

Got the t-shirt

It has been my experience, that in these situations to do anything less is not an option and speed is of the essence. These situations are usually long in the making but typically ignored until they become a full blown crisis. To an outside observer, you would wonder how it could have gotten so bad? But until you are in the thick of it, you’ll never really understand how these things happen. Been there, done that and I’ve got the t-shirt!

Of course, we’ve all read those inspirational books or articles that tell you to stick to it and persevere no matter how hard it is. Or, that suffering is the price you pay to be an entrepreneur. So, I want to tell you that there’s a limit to how much misery, you must put up with.

Unfortunately, when many of us are faced with business destroying crises, we tend to develop a bit of tunnel vision that limits our ability to see all the options available. Couple that with our desire to succeed, plus a little pride and ego, we don’t even consider any of the negative options that can effectively gut your company and your dream.

Strangely enough, when talking with these clients many already know what they “should” do. They just can’t bring themselves to do it, preferring to carry on hoping and praying that the situation will improve. Regrettably, it rarely does.

5 Survival Tips

If survival is your goal, then you must make the hard calls. The first of which is to reduce all your expenses, regardless of how uncomfortable you are. We’re talking survival here. The following list can get you thinking of some of the drastic measures you must take:

1. Move your business. Relocate to your residence or some other free or less expensive space.

2. Cut staff. Payroll is usually the largest expense a company has. Not a fun exercise but a necessary one.

3. Cut all non-core expenses. I mean everything. Nothing is sacred. Cell phone, copiers, coffee service, cleaning services. No more client lunches. Absolutely everything gets scrutinized.

4. Dump unprofitable clients. If you don’t know who they are, figure it out immediately. Deal only with those clients that are profitable now and pay promptly.

5. Streamline your product or service offerings to those items that are profitable. With reduced staffing, you probably won’t be able to support more than a couple of core services. So, do the stuff that makes you money.

Yes, I can state categorically, this is an painful and humbling process. But if you think the business and your sanity is worth saving then you have absolutely no choice. Once completed though, it’ll feel like a huge weight has been lifted off your shoulders.

Quit Digging

Many who have gone through this and survived have felt rejuvenated. It’s like they’re in start-up mode all over again and what they discover is that this is their happy place.

So, if you ever find yourself in a hole, quit digging!

You may also enjoy The Fear Of Decisions

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

SBM #57 Recognition

Tagged as: appreciation, employee, entrepreneur, job satisfaction, leadership, motivation, professional speaker, small business expert, Small Business Minute, staff, success, trickle down

Podcast: Play in new window | Download

Recognition is the easiest and most effective way to motivate employees, yet remarkably, one of the least used.¬ Entrepreneurs spend endless hours trying to figure out how to motivate their teams, yet ignore this basic human need.

A little research will show that there are an untold number of studies that rank recognition, or appreciation for their work, in the top 10 qualities that lead to job satisfaction, often placing it as the number one item.

The funny thing is, this is not revolutionary. I remember being a young manager in the pre-digital age and regularly coming across articles stating the exact same thing. A different time, a different generation, yet the very same piece of advice for managers. Tom Peters, in his seminal book, In Search of Excellence, stated that “we need to catch people doing something right”!

What about all the good?

All too often we’re quick to notice when something goes awry, we lose no time in bringing the misstep to the guilty party’s attention. Yet, how often have we ignored the many good things that same individual does? Is it because we take the position that it’s their job to do it right and that’s what I’m paying them for?

Catching people doing something right requires very little effort and only entails you to be on the lookout for those moments. Recognition of a job well done can have a significant impact on morale, on profitability as well as innovation.

Build confidence

Think about it for second. You catch someone doing something really well or took the initiative to try something new. At this point you thank them and let them know you’re pleased. So, what do think happens next? Well, it’s been my experience that a smile usually breaks across the individual face. Even the most grizzled employee will probably soften for a moment. That small action on your part signals that what they do, matters. It builds their confidence, all because someone noticed.

Let’s face it, we all like to be recognized. We all enjoy the occasional pat on the back. Don’t you beam just a little when a customer says, you did a great job? Well your employees are no different. Seriously, how much effort does it take to acknowledge a job well done? Very little!

Just a little effort

If you train yourself to be on the outlook, you’ll find plenty of moments to praise. Just be sure to be sincere. The following are just a couple of examples to prime your thinking

You overhear an employee on the phone with a customer and you’re impressed at how they handled the situation. So as soon as the call is completed, let them know that you were impressed and thank them for caring. You can’t wait until later. It must be done immediately after the call is completed to maximize it’s impact.

You task someone to query your customer database for a list of customers that either bought a specific product or service. Not only does the individual provide you what you asked for, but took it a step farther and provided a list of potential targets of that service or product.

Another employee, shares with you something a co-worker did to go the extra mile or how they helped another employee. You first thank the employee for bringing to your attention and then immediately let the other employee know that you appreciate what they did. That’s a double in my books.

It really does matter

These types of situations happen everyday in thousand of business, without the owners ever acknowledging the individuals for going the extra distance. Too be fair, many entrepreneurs do recognize the effort, but fail to let the employee know because they get busy and forget or they don’t think it matters. Let me be very clear on this point, it does matter!

By regularly acknowledging peoples good work, you set the stage for people to give a little more or try a little harder. By letting them know their efforts are appreciated, they will go the extra mile and the impact will have a trickle down effect throughout the organization that will be noticeable.

The beauty of catching people doing good is that it doesn’t cost anything. The reward is the recognition and knowing they are appreciated. So, I challenge you to spend the next week catching people doing good, and see if there is even the slightest change in morale. What have you got to lose?

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

SBM #56 Delegate not Abdicate

Tagged as: abdicate, delegate, enthusiasm, entrepreneur, information, outsource, oversight

Podcast: Play in new window | Download

Every business has lots of moving parts. By default, an owner must have a wide ranging skill set if they hope to achieve any success with their enterprise. Those skills include, but not limited to, sales, marketing, human resources, bookkeeping, production and administration.

Of course, at the onset, we as owners tend to do all these activities. But as your company evolves, and demands on your time increase, you need to seriously consider getting out from under all of those responsibilities. Doing so, would free you up to focus on what you do best as an individual and allow the company to grow.

Fortunately, for many of these areas mentioned, you have choices on how to free yourself from these tasks. You can either hire someone or, outsource those activities to a freelancer. Either way, the end result would be to unburden yourself.

What to give up

What to give up or delegate varies with each entrepreneur. But be aware, there is a fine line between delegate and abdicate. Let’s face it, your enthusiasm for the various roles in your company range from, enjoyment to sheer torture.

What I have found is that we tend to keep doing the things that we’re comfortable with, regardless if it’s a good use of our time, and eschew those things that we don’t like, or have little knowledge.

One of the very first areas that entrepreneurs can’t wait to get rid of is bookkeeping. Heck, some don’t ever do it. They just outsource it right from the beginning and are glad to be rid of the responsibility. Too be fair, it can be a little tedious and many of us just don’t have the patience for administration.

Ignoring powerful information

This is also a great example where delegation turns into abdication. When questioned, most owners simply answer that they don’t understand it, or it’s too complicated. Although it is primarily a record keeping function, what I find absolutely amazing is how little attention some owners pay to this area. For many, they are quite content to run their businesses blissfully ignorant of the powerful information contained within the available reports.

Far too often it takes a crisis to get the entrepreneur to take notice and by that time it may be too late to save the company. These crisis usually take the form of missed government remittances, seriously overdue account payables or worse, a nasty case of fraud. But more often than not, it’s simply a matter of inattention that’s built up over an extended period of time.

Maintain oversight

Delegating doesn’t mean never having to deal with it again. It simply means letting someone else take care of the day-to-day activities. For instance, if you used to spend eight hours a week on something, you can now reduce your time to an hour a week simply reviewing the other person’s activity. You still must maintain oversight and ultimately remain accountable for the results.

All areas of a business can be delegated but successful entrepreneurs stay sufficiently engaged to know exactly what’s going and avoid surprises

Delegating is mandatory if you want to grow your enterprise. It frees you to rise above and plan for the future. Just remember though, delegate not abdicate.

You may also enjoy Delegating is easier than you think

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

SBM #43- Wisdom Of The Ages

Tagged as: age is the price of wisdom, capitalism, experience, experts, Get more life out of your business, money, small business, small business expert, Small Business Minute, social media, successful, wisdom of the ages

Podcast: Play in new window | Download

Successful people are always on the lookout for ways to improve themselves and their businesses. Unfortunately, with the advent of Social Media, there are now an overwhelming number of so called experts promoting the latest and greatest way to take you and or your business to the next level.

Scream Loud Enough

I get the sense that they believe that if they scream loud enough or post frequently enough, people will automatically assume that they are experts.

Rarely however, have these denizens of success achieved the level of achievement they proclaim that you can attain. Just because they say so, doesn’t make it so.

I like to say “that most of the people making money on the internet are those individuals selling you courses on how to make money on the internet”. Buy their book, sign up for their course, and you too will become successful.

Granted, there are some individuals that have actually achieved success in their chosen field and are now sharing and yes, capitalizing on their knowledge they gained over a lifetime and you know what? That’s okay. Unfortunately, they’re in the minority.

Get Experts To Help

A simple and effective alternative, is to find someone in your community that you admire, that has done their time. and is successful. Offer to buy them a coffee or lunch to get some insight into their successes and failures.

It has been my experience that truly successful people are willing to help and share and most don’t care how many likes, followers or friends they have on social media.

Their strength and knowledge comes from experience. Or as an ancient proverb says “Age is the price of wisdom”

If you found this helpful, Tweet, Like or tell a friend.

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

SBM #33- Responsibility & Authority

Tagged as: contradictory, customer service, entrepreneur, problem solving, profitability, selling your business, small business, small business expert, Small Business Minute

Podcast: Play in new window | Download

A common mistake entrepreneurs make is that they expect their employees to take responsibility for the job they are tasked to do but fail to give them the authority they need.

“It’s a little contradictory and more than frustrating for your team.”

This is particularly evident in customer service or customer facing positions. We tell our team that we want to provide the best customer service or experience, yet what typically happens is the individual is powerless to deliver on that promise without first checking with the owner or manager. It’s a little contradictory and more than frustrating for your team.

Additionally, by giving them the authority to solve the problem immediately for the customer, you’ve just increased the overall efficiency of that area and thereby reduced your costs. How so? It’s simple math. Think about it this way; a customer calls with an issue. The team member listens to the problem but even though they most likely know what should be done they don’t have the authority to remedy the situation because they need to check with the owner.

So they take down the information and tell the customer they’ll get back to them. Now they need to track you down and most likely to be told the exact same thing they were thinking of in the first place. How much time got wasted? How often during the day, week or month does this happen? I repeat, how much time was wasted?

“Giving them the authority to go along with the responsibility, everybody wins!”

Most employees with any tenure know their limitations and will usually stay on side with your wishes and for those rare occasions when they get a little too generous, let them know and provide them with alternatives. This would be another teaching moment.

By giving them the authority to go along with the responsibility, everybody wins!

Find out more about Teaching Moments here

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Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

SBM #32- Empathy-The Double Edged Sword!

Tagged as: Balance, decision making, Empathy, employees, entrepreneur, Goldilocks, leadership, Small Business Minute, success, The Three Bears

Podcast: Play in new window | Download

Most successful entrepreneurs that I’ve met have a balanced approach to empathy, deep when required and non-existent when really necessary. On the other hand, I witness owners that aren’t so balanced.

Those that have too much empathy, frequently worry way too much how a given decision or request will be accepted by their employees and regularly succumb to the slightest resistance. This failure to follow through on their decision, even though deep down inside they know it’s the right to do, often limits their success or ability to move the company forward.

“In many cases these companies find it difficult to keep good people”

Conversely, having no empathy can be equally limiting. Individuals with no empathy are regularly referred to as tyrannical or worse by their employees. Right, wrong or indifferent these owners don’t care how their decisions will impact the individuals that work for the organization. It’s their way or the highway.

In many cases these companies find it difficult to keep good people because their lack of respect or don’t seek their input. More often than not, those companies are left with mediocre employees that are unwillingly or unable to leave even though they would like to.

Having a balanced approach to empathy is one of the best attributes a leader can have. Taking into account the impact and feelings a decision can have on employees and then adjusting if they receive valid feedback. It’s a sign that you respect and appreciate input and that you are open to feedback.

“Taking the time to explain, goes a long way”

There are occasions when a decision is not open to debate. It could be a change in direction, a new policy or any number of unpleasant decisions we as owners are forced to make once in a while. In these situations, simply taking the time to explain the rationale for the decision, goes a long way to minimizing any hard feelings.

Having the right balance of empathy is akin to the beds in Goldilocks and the Three Bears. Not too soft, not too hard, but just right.

If you found this helpful, Tweet, Like or tell a friend.

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

SBM #23 – Who’s Got Your Back?

Tagged as: delegating, entrepreneur, illness, invincible, overwhelmed, superhuman

Podcast: Play in new window | Download

As entrepreneurs we are use to doing everything because in the beginning there wasn’t anyone else. As they say, old habits are hard to break so when a staff member gets sick or overwhelmed, we’re usually the first ones to jump in and cover the situation. But who covers for you when you get sick? Who’s got your back?

We’re Only Human

I know we think we’re superhuman, and sometimes we really are, but most of the time we’re just frail human beings just like everyone else and we need to seriously consider a contingency plan. How would your business operate if you we’re sidelined for a week or even worse a couple of months?

Now chances are no one employee can wear all your hats, but chances are if properly allocated across a few employees you would most likely cover 70-80% of your critical duties and would allow your company to continue to function if your absence was more than just a couple of days.

Who’s Got Your Back?

So where do you begin? Ideally look for those task that can be easily transitioned like staff or project scheduling. Who does the invoicing? If you train someone else as a back up, your cash flow won’t be terribly disrupted while you’re benched. Is quality control part of your oversight? Again, train someone because you can’t afford to have completed orders sitting on the floor and missing deadlines.

The thing is, you’re not invincible and you may never be faced with a time out but it’s no different than any other emergency plan you have in place. You don’t need it, until you need it.

The truly great thing about this exercise is that you may discover that your staff may be far more capable than you gave them credit and you just might start down the road of delegating more and more tasks and really free yourself from the day to day running of your business.

One mandate I had at my company was that all positions and functions had a trained backup, including me. So, who’s got your back?

You may also enjoy Delegating Is Easier Than You Think

If you found this helpful, Tweet, Like or tell a friend.

Get More LIFE Out of Your Business

You shouldn’t be the hardest working person in your company.

Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.

Do you suffer from any of the following?

1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.

You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.

ORDER HERE

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