SBM #85 – Entrepreneurs guide to conference calls

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The outbreak of Covid-19 has got the world on lock down and many employees have transitioned to working at home. With that, many entrepreneurs are holding daily conference calls to keep teams connected.

The upside is many employees are having greater communication with their managers than they previously had. Unfortunately, many owners have never participated or hosted conference calls and in my conversations with participants, I’m hearing that many of these calls are bit chaotic and frustrating.

So I thought I’d offer up the following 6 tips to have better conference calls.

1. Be on time!

There’s nothing more distracting than someone joining a call late only to declare “Hi I’m here!”. This usually happens without consideration that with a call in progress, someone may be already talking, and your arrival and announcement totally disrupts the flow. Login quietly and wait until there’s a break in the topic to let people know you’ve arrived.

2. The meeting Chair

Whoever is hosting or chairing the call, needs to set some rules or guidelines in order to control the conversation and keep it on track. One thing I did when chairing in-person committee meetings in my many volunteer roles, was to make sure everybody had a chance to speak. Many people have great ideas or want to contribute to a conversation but just don’t have the confidence to speak up. These same people tend to be a little more reserved and therefore remain quiet. Let be honest there’s always a core group of people who monopolize conversations, so the quieter ones are little intimidated and don’t speak up.

So, in order to give these individuals a chance to air their ideas or concerns, I would keep track of who has spoken on a given topic and then I would go around the table and ask the individuals who hadn’t commented, if they had anything to add. This way they were given the opportunity to make their thoughts known.

In a conference call, the chair should state the issue or ask the question and then ask each individual, one at a time to comment. This alleviates the typical free for all that usually happens, and the conference call becomes more productive.

As a caveat, some conference calling platforms have the ability for individuals to digitally raise their hand to comment. However, many of conference calls taking place today calls are being held on mobile phones without these functions.

3. Set out an agenda

Just like in person meetings, whoever is running or chairing the call should put out an agenda beforehand. Since these conference calls will be daily or twice daily events, the list will be small. It’ll help at keeping everyone focused on the issues at hand.

4. Put your phone on mute

There’s nothing more annoying than background noise during conference calls. Since many people are going to be working from home, with kids and dogs underfoot, this is a big problem. So, if you’re not talking, put your phone on mute until it’s your turn.

5. No speaker phones or hands free.

Usually the sound quality when talking on speaker phone is significantly reduced. Using the speaker phone setting makes it difficult for everyone else to hear what your saying and requires immense concentration. Get a set of headphones if you need your hands to be free during the call. It’ll make the call more comfortable for everyone else.

6. Assign a minute taker

Just like any formal meeting someone should be taking minutes of the meeting. They don’t have to be long dissertations. Point form is sufficient and is really just a summary of issues and actions required. Unlike an office meeting, there’s little chance to do face to face follow up, so these minutes can be distributed shortly after the conference call ends and serves to keep everyone on task. The minute taker should be rotated between the callers every day.

These are trying times for most entrepreneurs. Many have never faced such a dramatic shift in they way they are forced to do business. However, this is a wonderful opportunity to try out those ideas you’ve always had, but never had the time to test.

Using conference calls to keep your arms around everyone and provide clear direction is just one of the tools, that did not exist or were the exclusive domain of large corporations not that many years ago.

Stay safe.

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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.

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM #84 – Go Slow to Go Fast

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A few months ago, I finally did something that I had longed to do but just never got around to it. Not quite a bucket list item, but pretty close. That something was to drive a race prepared car on a closed road course. Calabogie Motorsports offers just such a program. The road course is just a hair over 5 kms that has 20 turns and enough of a straightaway to get you to question your sanity. But at the end of the day, I couldn’t help but draw many parallels between the days activities and running a small business.

It all started because my youngest son was planning on signing up for the half day training at the track, and it only took me a couple of minutes to invite myself along. It’s funny how these things always seem like a good idea until the early morning drive to the track makes you wonder if it really was.

Now driving is something I’ve done my entire life, having spent my early days as a long haul truck driver. Getting behind any vehicle with a steering wheel is something I’m comfortable with. What gave me pause, was the fact that I’d be hurtling along in a race car at over 200 kms. That plus the fact, you never want to be that guy that embarrasses himself in front of the other 10 participants, let alone your son. That can be somebody else’s job.

Briefing session

So, as we gathered in the training room at the appointed time, we were welcomed by a couple of gentlemen that were going to review the schedule of morning activities, the characteristics of the car, track conditions that day, safety rules and the meaning of the on-track flags. This brought about the first comparison to running a small business.

Small Business Tip#1 – Briefings

How often do you take the time to gather everybody together, to define the day’s or week’s activity? How often do you remind your group of why they’re here and what we’re hoping to achieve or gain that week? How often do we set expectations in a team environment? Although we have great intentions of doing so, I suspect we don’t do it often enough.

As a result, we just assume everybody knows what to do, when to do it and what’s expected. Sadly, this lack of direction or confirmation of understanding can lead to untold number of mistakes. Implementing, short briefing sessions on a weekly or daily basis, as well as at the beginning of a major assignment can greatly reduce confusion and ensure your team is focused on the same end results. Or as the saying goes, make sure everyone is on the same page.

Track Time

After a quick introduction to our in driver trainer, we made our way out to our cars. These race prepped cars, had windows replaced where needed with Plexiglas and removed where not necessary. I can tell you getting into these vehicles is quite the process as you weave yourself around and through the roll cage, much like performing a downward dog yoga move coupled with a reverse warrior pose to end up in a snug, but less than comfortable racing seat. They make it look so effortless on tv, but I can assure you it’s not.

For the first of three on track sessions, you are a passenger as the trainer puts the car through it’s paces and shows you what’s possible. As a first time passenger in a fully prepped race car, I can confess that it’s a whole new experience. Unfortunately, the sensory overload during the ride along, really wasn’t conducive to learning anything the trainer was saying. There was just too much information to be absorbed in a very unfamiliar environment with your senses being hammered by new inputs. However, I do remember him saying that sometimes you need to go slow to go fast, which I didn’t quite understand at the time.

Small Business Tip #2 –  Teaching moments

Too often we assume people understand the objectives. We throw so much information at them and then never take the time to confirm their understanding. To be sure we ask if everybody understands and of course heads nod in agreement. This can be because they don’t want to look foolish or more often, they actually think they do understand, but it may be a completely different understanding.

Taking a few extra moments to ask specific questions about expected results or executional details to truly confirm their understanding can go a long way in avoiding missteps. The reason for this extra steps is to make sure someone hasn’t misinterpreted a critical piece of information or expectation.

My Turn

So now it’s my turn behind the wheel. The moment you push the engine start button and the V8 roars to life, you know you’re not in Kansas any longer. The sheer raw power of the engine shakes the car and is felt in every fiber of your body. Not uncontrollably mind you, but enough to make you respect it’s potential and get focused. It’s also the time when you start thinking, what the hell have I done!

Sitting behind the wheel you realize that these cars are stripped down to their bare essence. An engine, a transmission, tires, body shell and absolutely no interior padding with only a handful of gauges. That’s it, just the basics. But seriously, what else do you need? These cars are built to go fast and stick to the track.

Small Business tip #3 – Simplify

How often do we have steps or unnecessary processes to getting a job, task or assignment done, just because we think it’s necessary? Do we have efficient processes? Can we strip down the process to it’s basics in order increase our deliverables? Has anybody asked, why we do it this way or is there a better, simpler way?

The race car is meant to go fast and it does so without any unnecessary frills. Shouldn’t we be running the most efficient businesses we can? If something doesn’t add real value to the customer, then it shouldn’t be there. Are we asking our staff for their input or suggestions? They are the ones that work with the processes every single day, they just may have a better way.

On the track

As I pulled out onto the track, I distinctly remember that the transmission and clutch had a familiar feel. It then dawned on me that it reminded me of my uncles farm trucks of my youth. The transmission and clutch had a very positive interaction and it was all business, no frills.

Staying in the safety lane all the while accelerating in order to merge with the other vehicles, it was at this point that I realized, I didn’t remember a thing my trainer had told me. However, being connected to him via headset as he sat in the passenger seat, I started receiving a constant stream of instructions that easily matched the speed of the car as we approached 200kms per hour.

For the next 15-20 minutes we did laps around the track as I desperately tried smooth out my handling and add a little finesse to an otherwise less than stellar run. At the end of the session, we made our way in for a debriefing session with all the participants as we asked, and they answered our questions.

Small Business Tip #4 –  Status updates

How often do we gather everyone to either get or give a status update on the company or an initiative? Scheduling regular but short debriefing sessions help to identify road blocks, allow for clarification and make course corrections. Checking in regularly can solve many minor issues before they become major issues that are impossible to correct.

The last session.

This last on track session is where I had my greatest breakthrough and an “Ah ha” moment. As with most people who do these things, I felt I was a pretty good driver and understood the basic concepts of racing, such as finding the straightest line through a curve, etc. However, that easier said than done as I consistently missed apex after apex on most turns. It was frustrating and humbling.

The trainer kept telling me to brake hard to scrub speed as I entered the tightest turns. I figured I understood the concept, but time and again, I’d blow the turn. I thought I was going slow enough to hit my mark, because going any slower wasn’t cool and we’re suppose to go fast, right?

So, on one particular lap I figured I’d slow down earlier and harder and see what happened. To my amazement, the car just hunkered down and dug in. We held the line and we rocketed out of the turn, with very little corrective input required on my part after pointing the car in the right direction. The throttle was wide open, it was almost textbook, and it was confirmed by my trainer’s comment “that’s what I’m talking about” through the headset.

Small Business tip #5 – Pump the brakes

Too often we’re in a rush to get the end result. Ambition is a great quality but needs to be tempered at times. The Navy Seals apparently have a saying that says “Slow is smooth, smooth is fast”. I know that sound contrary to what we believe, but it works.

Not always, but sometimes we just have to pump the brakes on an idea or initiative and stretch out the deadline. By doing so it gives us the time we need to make sure we have all the information, the right people and the capacity to handle the assignment. Whether that’s growing our business or contemplating pitching a large contract. This extra time may allow for a much smoother execution and less rework, because smooth is fast.

Go Slow to Go Fast

Going too fast can be very stressful for all involved and can set us up for mistakes. Knowing when to hammer the throttle and when to stand on the brakes is an artform in itself and I have a new found respect for professional drivers because it’s both mentally and physically draining controlling a race car at speed.

The same can be said of running your business too fast. Sometimes you just need to go slow to go fast.

I appreciate hearing your feedback to this or any of my posts. So share your thoughts below.

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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.

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM #83 – Shrink to Greatness

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Shrink to greatness is a phrase I’ve often had to use when working with clients. To be honest, it’s rarely received well by those I’ve had to tell because everything we read about how to be successful in business says you must grow. So, this contrarian approach can be a little challenging for the recipient to accept as it goes against everything they’ve been led to believe.

Numerous articles have been written stating that you can’t shrink to greatness. However, under the right circumstances it’s the only course of action that must be taken. Otherwise, they risk becoming just another wreck on the side of the entrepreneurial highway.

Why Shrink to Greatness?

Why would a business need to shrink? Well, most of the time it’s a simple matter of the owners ambitions outstripping the ability of the business to support the rate of growth. One of the early warning signs is that expenses are overtaking revenue. It’s interesting to note that in many cases that I’ve seen, generating revenue was not a problem, but doing so in a profitable manner was.

How they got here is really quite simple. In the early days, when overheads were low, most sales, jobs, or contracts were deemed to be profitable. That’s an easy assumption to make, because with minimum expenses, they always seemed to have money and they were getting every piece of business they were pitching. So naturally, they assume that they’ve hit upon a formula for success.

What often happens though is that, with all things being equal in terms of capabilities, they were getting the business in large part because they were cheaper. And they were cheaper, because they weren’t allocating any overheads to their pricing. Now, this is how most of us start, and it gets us in the game. But as the business grows, we need to modify our pricing in order to allocate our actual expenses to our pricing model. This is simple enough for those of us who were fortunate to figure this out, but unfortunately, many don’t.

Not for everyone

Shrink to greatness is not an effective strategy for everyone. One of the key considerations I look at before making this recommendation is what kind of business are they doing? If they have regular repeat business from a core group of accounts, then it may be a candidate. Having repeat business tells me that these accounts are happy with the results and loyal to a degree.

The other key I look for is if the client is willing to make the drastic changes required. When we attempt to shrink to greatness it is a difficult decision, it’s a leap of faith and a blow to their ego. It requires them to make decisions and take action contrary to what they have believed and outside their comfort zone. These decisions, albeit painful, are the short term pain they must endure in order to end their current misery and right-size their businesses.

The following are two examples where I used this strategy to save one company’s ultimate demise and another as a basis to get beyond just breaking even.

The Marketing Agency

The first example is when I was asked to meet with the owner of a marketing agency as a favour to their bank manager. When we first met, I got the impression that he was meeting me under duress or pressure from his bank manager. We chatted for an hour, but it was very one sided and it was clear the business needed to shrink and I told him so. I left that meeting feeling that my advice had fallen on deft ears, but I had fulfilled my obligation.

About a year later I received an email from the same individual asking for another meeting. My initial thought was that I wasn’t about to waste my time, as his reaction to our previous meeting was still clear. However, always willing to help a fellow entrepreneur and for some unknown reason, I agreed to meet with him again. My plan was to make it a brief meeting, if I felt it was going to be a waste of my time.

This time, it was very different. After opening pleasantries, he immediately said, he should have taken my advice a year ago and now his situation was desperate and that he had no idea what to do and it showed. Now, from my stand point, I went from being prepared to blow off this meeting as soon as possible, to trying to formulate a rescue plan.

During the year between meetings, he had dug himself into such a hole, I wasn’t sure if the business could be salvaged. However, nothing ventured, nothing gained. The plan was to strip his expenses to as close to zero as possible. That meant letting people and premises go which he was reluctant to do because of the perceived in-house expertise, as well as losing a place to meet with clients.

I made him aware that he didn’t have any special in-house expertise that couldn’t be hired on a freelance basis as his needs demanded. He reluctantly agree that what I was proposing made sense. However, giving up his office space would give him nowhere to meet with his clients. To this I asked, how many clients visit your premises? His answer, “hardly any”. I wasn’t surprised in his answer. The reality is that people want convenience and that usually means visiting the client at their place of business as it saves them time.

So, during the hour we met, I laid out exactly what had to be done or else he would be finished. Within a few days he executed everything we talked about and moved his business into his spare bedroom in his apartment. Within six months, he was making and keeping more of the money flowing through the company and was far happier than he had been. In addition, he had lost a bunch of weight that had accumulated during the previous year as a result of the stressful environment he had created.

He offered up a very lengthy testimonial to me that states in part “Greg’s no-nonsense, action-oriented wisdom saved my business (and maybe even my life – I’m not kidding)”. Check out my LinkedIn profile to read the full text of this testimonial.

The Contracting Company

My second example is with a contracting business that had been in business for 12 years when I first met the owner. Throughout that time, they made money some years and lost in others. On average they were breaking even. They had a staff of 10 and were doing some impressive revenue numbers, but not making money.

Once again, shrink to greatness was my prescription. It was clear that the nature of the revenue couldn’t support the expenses. One of the first steps was to reduce both the administrative and field personnel staff by a third and to relocate to smaller premises. None of this could happen though, unless they cut their revenue by 30-35%.

Generally cutting revenue is not part of the plan, except in this situation the revenue to be cut was a service contract that was coming up for renewal after 5 yrs. This contract was very low margin that required 24/7 on call capabilities. Not renewing this contract would relieve tremendous pressure in both the financial and human resource areas of the company

Over the 18 months this plan was put into place, total headcount was reduced by 50%. The business was also relocated to much smaller premises. The net result was that revenue dropped by 30%, but profitability skyrocketed.

These two examples illustrate that sometimes trying to grow your way to profitability may not be possible. Whether the reason for this are internal or external really doesn’t matter. What does matter is to recognize that the current business model isn’t sustainable nor profitable and sometime drastic, uncomfortable decisions need to be made.

Shrink to greatness, may be exactly the prescription your business needs so that you can achieve your goals and dreams.

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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.

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM #82 – Starting Over

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What if, you had the chance of starting over? What if you could reboot your business? What would you do differently? Theses are questions that I regularly ask small business owners, especially when I come across those that are struggling, stressed out and unhappy.

The answers I get range from, “I’d hire better people” to “I would not have tried to grow so fast”. Let’s not forget the commonly heard “I was happier when I got to do the stuff I liked doing”. Depending on the individual and their speciality, that could range from selling to working in the shop.

Keeping your foot to the floor

The reality of business ownership is that we are driven to build the company as fast as possible. Of course, that makes total sense as we need to generate revenue and get profitable as soon as we can, or we just don’t survive. Simple enough and it makes total sense.

Where the problem arises for many, is that they just keep their foot to floor, to steal a metaphor, and don’t back off once they hit that threshold of profitability. For others, the bigger they get, the less money they seem to make. At some point, they reach that tipping point whereby they’re just tired of chasing what seems to be an elusive goal and now feel trapped in a future of their own making.

So why is that? Well the answer is pretty simple. Everything we read, see or hear regarding entrepreneurial success is about growing your business. Everything is sensationalised. Rarely do we hear about the thousands upon thousands successful small business owners who are quite content with the size of their businesses and are not looking expand other than by organic growth. But they exist, they’re successful and they’re happy.

If you’re not growing, you’re dying!

I too wanted to build that empire. I was also caught up in the grow your business mentality, where the mantra “if you’re not growing, you’re dying” was the battle cry of the day. There’s a small bit of truth in that statement, in that your revenues should be growing annually, if nothing more than to keep up with inflation. But as with most of these statements, they’re always taken to the extreme, which put undue stress on an owner and their ability to keep up. For example, the current buzz words are that you need to “10x” your business or grow it 10 times the current size. Really? Why?

It took a while for me to ignore the hype and focus on what’s was important to me. What I came to realize was that I wasn’t prepared to make the personal sacrifices required to grow the company at all costs. My family and quality of life were my priorities.

That’s not to say I didn’t have any drive or ambition. On the contrary, but I was no longer in a rush and I came to enjoy the measured approach to growth, where I could have some degree of control over it. Put another way, I subscribed to the notion that “the journey is the destination”. Once I realized what was important to me, I found my level or balance if you wish.

You don’t have to ask for permission

So, when I hear the answers to the question – What would you do differently? I usually ask, what’s stopping you? Which usually stops the individual in their tracks. They really don’t have an answer. Oh, they say things like, I’ve got too much invested, or I can’t just fire these people. To which I respond, you can do whatever you want. Who’s stopping you and why can’t you?

Seriously, we have the control. We don’t have to ask permission of anyone. As owners we are not infallible. We make mistakes. We make mistakes in hiring. We make mistakes in our strategic planning. We make mistakes in the products or services we offer. We are human and no one has a crystal ball. Yet too many of us get trapped by past decisions. So, what’s stopping us from changing? Is it ego? I believe that’s part of it. Is it pride? Yup I believe that also part of it. However, I believe the biggest issue is fear. Fear that we might make the same mistake all over again. That’s certainly a risk, but frankly it’s a small risk because you’re far more knowledgeable than you used to be, and you now know what you don’t like. The alternative of course is to do nothing, and I can pretty much guarantee you’ll continue to be miserable.

The beauty about starting over is you already have a business, so you’re not really starting over. It’s more of a makeover and it doesn’t have to happen all at once. However, you do need a plan because without one, you risk ending up right back where you started. What that plan looks like varies by individual.

Don’t get paralyzed

Yes, this process can seem a little overwhelming, so you need to make sure you don’t get paralyzed with all the decisions you need to make. So, the first thing you need do, if you’re looking to morph your business into the one you want, is to make a list of everything you want to change. Be tough and list everything and everybody. The objective of making the list is not just to get organized, but to break down everything you want to do into bite sized pieces. This will make the whole process more manageable and also help feel like you’re making progress as you check off the items.

Now rank the items from urgent to less urgent. Don’t forget to include your own personal improvements on this list, because you’ll also need to do things differently than you have. Next, just start with the first item. Remember, some things can be done immediately, and some may take a little longer.

A common example I run into is having to let someone go. You’ve most likely been contemplating dismissing the individual for quite some time. You’ve probably been putting it off because you’re hoping that they’ll improve or, more likely, it’s because you just hate doing the deed. But the truth is that deep down inside, you know it’ll never work, so why wait any longer? To use the Nike slogan “Just Do It!”. Although you may not enjoy the process, the sooner it’s done, the sooner it’ll be in your rearview mirror and you won’t be stressing over it.

Leadership

This whole process is about leadership. It’s about taking charge of your destiny, your future. Sometimes you lead from the front, sometimes you lead from the rear. This is one of those times you need to lead from the front, and you do so by taking action. No more hesitation. This is about your life and your happiness.

For example, I work with a number contractors in various trades. Many of them miss being “on the tools” as they like to say. For them it’s therapeutic and gets them away from the day-to-day running of the company. Unfortunately for most, their toolbelts are just hanging on the wall collecting dust. So, what I recommend to these individuals is to just schedule a few days a month where they strap on their toolbelts and go work on the job site. It’s that simple.

Do you miss the customer interaction because you’re too busy doing administrative duties? Then just schedule a couple of days to visit clients. The upside to getting out is that you may just discover missed opportunities with your existing customers.

Getting your business to align with your needs is easier than you think, because you have the power to make the changes you want. It just takes the sincere desire to make changes. If your goals have changed from when you first started, that’s ok, they’re your goals. You don’t need anybody’s permission to adjust course. If you do, I give you permission.

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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.

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM #81 – Burnout

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Listen on Apple Podcast
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Burnout is one of the leading causes of small business failures. The thing about burnout is that it usually gets justified as just hard work. Of course, entrepreneur knows that being self employed is going to require sacrifices and therefore, burning the candle at both ends is the price of admission to a better life. To that I say, yes and no.

Yes, because there is a price to pay for getting into business. No, because it shouldn’t become a way of life and this is the problem. Too many entrepreneurs never transition from startup up mode. What is startup mode? It’s when you’re doing everything. You’re the chief cook and bottle washer. Your empire consists of a staff of one, you! It’s all you. It’s what the vast majority of small business owners go through when they launch their businesses.

Unfortunately, startup mode becomes a trap that many never escape and can lead to burnout. What really should happen is at the first opportunity, you need to find a way to off load some of the duties and responsibilities. Whether that be hiring a part-time person or finding a virtual assistant of some sort, you need to start elevating your role at the earliest possible moment. Ideally, you should get some help the first day you hang out your shingle. I’m serious this can’t happen soon enough.

When I started my first company, The Sales Support Company, I was just like everybody else and I wasn’t afraid of hard work. The business needed to be national in scope as soon as possible, for it to really work. Fortunately, at that time, I had a partner. So, even though the workload got distributed pretty evenly. It still required that we put in long days. But that’s what we’re supposed to do, right?

After about four years, the partner was losing interest and needless to say, I was starting to shoulder more of the workload and decision making. Before long, it was evident this chapter was coming to an end, so I bought him out. So, what went from a little bit more work, turned into a doubling of my workload.

Suffice to say with a staff of 150 working coast-to-coast, the days grew much longer. Weekends became just two more days to get the work done. This went on for almost another four years before I decided that I’d had enough, and it was time to move on and I disposed of the company. It wasn’t until a few month later that I realized that towards the end I had hit the wall and was facing burnout.

Of course, my entrepreneurial journey was far from over, as I was committed to making my next endeavour a success. However, I wasn’t going to do so if it required the same level of work, nor was I prepared to risk that zombie like effect that comes from burnout. I had learned my lesson and I wasn’t about to let history repeat itself. I wanted to create an environment where nobody took work home, especially me, and that nobody needed to worked weekends.

This commitment, to normalizing the work hours, became a critical operating premise for the 17 years that I owned The Marketing Resource Group. Making this a cornerstone of the business, it then forced me to rethink how it was going operate as working longer hours was not an option. I decide that I needed to focus on three things if this was going to work.

1. Is it necessary?

As the business got off the ground, we questioned everything we were planning to offer in terms of client support or reporting. We asked the simple question – Does anybody care about it? It may be a nice to do, but if the client didn’t care, why should we waist our time on it. It’s easier not to offer something than to offer it and then try to take it away. We would regularly ask the client if they needed any other information, but what we found out was they were satisfied with what we were providing because it already exceeded what they had expected.

2. Can we automate this?

I must admit that I had limited technical abilities, but if I was going to drive this initiative forward, I needed to lead from the front. The sad part was of the two employees I had at the time, I was the most tech savvy, which wasn’t saying much. So, I took it upon myself to prepare all the databases and entries screens and automating all the reporting. As the years went on though, this activity was transitioned to others with a mandate that we use off the shelf software, so that we didn’t need high priced programmers.

3. Delegate as much as I could. 

I recently read that when the leader start to delegate everything, it’s a sign that they’re bored. I think that’s a load of crap. Leaders shouldn’t be doing. They should spend most of their time teaching and being available to help their staff. With any remaining time strategizing or in customer contact. By delegating as much as possible it forced me to better explain my expectations and the steps required to complete the assignment.

These three things, along with other smaller initiatives, allowed me to go home at the same times as everyone else most evenings. Eventually, I was able to be the last in, in the mornings and first out most days. Which is the exact opposite of most business owners.

What’s really strange is that as business owners we have the right to set the parameters within which we want to operate. We have that freedom. But too often we don’t even give it a second thought. We think we must do like every other owner and work our butts off. When you consider that freedom is one of our primary goals for going into business, few ever achieve it.

For me, setting my work parameters made me a much better leader and manager, and I never faced burnout again.

Copyright © Greg Weatherdon 

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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.

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM #78 – Trust

Podcast: Play in new window | Download

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I recently had some time to kill between meetings and I was hungry. So, I decided to go to a local diner. I figured I could use the time to do some writing. One of the reasons I chose this location is that I knew they had free Wi-Fi and I needed to access some information online with my laptop.

After I was seated, order taken, and beverage served, I flipped open my laptop and attempted to connect to the Wi-Fi. No luck. I checked to make sure the network was visible and still nothing. Re-entered the password that was printed in big bold letters on the wall of this establishment and still no joy.

After numerous attempts, I finally asked one of the servers if the Wi-Fi was working and she said yes, it is and that she was on with her smartphone. Of course, this made me think, aren’t you supposed to be working and not worrying about your social media or text messages? But I digress.

Laptops are for inputting

So, I went through everything again and after a few more attempts, I gave up and assumed the problem was on my end. Frustrated, I resorted to using my phone in an attempt to access the information I needed.

Yes, I could have used my phone sooner, but that just doesn’t work well for me. I once heard that tablets and phones are for consuming information or data and that laptops are for inputting. This statement so represents me. Try as I might, I hate trying to compose anything other that a quick email or text response on my smartphone. I also find that undertaking any kind of extensive searching is frustrating on a small handheld appliance.

No one on duty

I tried again by asking another server, who I believe was in charge of the front of house, if the Wi-Fi was down? To which she responds, yes, it is! She then proceeds to tell me that whenever the restaurant gets busy, which it was, the router crashes. To which I responded that it probably just needs to be rebooted. And here comes the kicker. She then tells me that the management has locked the access to the router because they don’t trust them. To which I responded, “seriously?”

She then went on to tell me that every time it happens, no one can do anything until the manager resets it. Ok then, get a manager to reset it, I said. To which she replied, there isn’t one on duty.

We trust complete strangers, but not our staff

So now I’m a bit confused. You have a restaurant with approximately 100 guests being served prepared food and you trust the staff to abide by all sorts of food safety issues without management oversight. Further, we trust these same employees to treat our customers properly and efficiently. We further trust these employees to process payment and handle cash, yet, they cannot be trusted to reboot a Wi-Fi router. Where does this make sense?

I know this is a simple example but is illustrative of many owners actions when it comes to their employees. Isn’t it funny how we trust hundreds, if not thousands of complete strangers everyday when we drive our vehicles? We hope these strangers stay in their lanes and that none of them cross over a painted yellow line into our lane, where doing so could result in serious personal harm. Yet, we don’t always trust the people we work with every single day to reboot a router.

On further contemplation, I also wonder why the manager hasn’t clued into this being a problem. If this is in fact a reoccurring issue and it affects the customer experience, then this needs to change. Especially since they have a sticker on the front door the says “Free Wi-fi”.

Your success depends on trust

Silly little situations like locking the router behind a closed door sends a message to employees that management can be dysfunctional. It left me wondering what other stupid policies this organizations has on it’s books.

Trust is a necessary component for the success of any business and employees are not going to bring their “A” game when faced with nonsensical restrictions. You’re never going to achieve the success or freedom you want if you can’t explicitly trust your employees.

You may also enjoy Successful People Do the Hard Stuff

Copyright © Greg Weatherdon 2019

Sign up to receive email notification of the latest update to this blog.

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM #77 – The Customer Goes First

Podcast: Play in new window | Download

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I’ve been considering this topic for quite some time but wasn’t sure it was worth addressing until a recent trip to New York City.

Having been out to dinner, we returned to our hotel and were waiting for the elevator to make its way to the ground floor. When the door finally slid open there was a young lady getting ready to disembark. Also, in the elevator, but tucked over to the side where the floor keypad is located, was a young man who was an employee of the hotel.

As we waited, the young lady began to step out of the elevator car, only to be cut off by the hotel employee. There was a look of confusion and shock on the young lady’s face as was on mine. Although it took a few nanoseconds to register with me what had just occurred, I yelled at the young man, “Hey dude, the customer goes first!”. To which he just kept on walking without acknowledging the comment.

As I turned back to the young lady, she said “no kidding, right?”, which gave me hope that this courtesy was still expected by a much younger generation.

Yield the right of way!

I’m not sure where I learned about this or whether it was just an extension of my upbringing, but whenever I crossed paths with a customer, I yielded the right of way. It’s a pretty simple and respectful philosophy that just became second nature to me over the years of retail sales and service.

For the most part, letting the customer go first, is still the norm, but I’m seeing a marked increase in number of instances where employees blatantly cut off customers in a retail setting. These individuals are completely oblivious of this simple protocol.

In addition, I’ve frequently watched as employees and customers converge at a doorway or in an aisle and instead of them holding the door or allowing the customer to go first, the employee just continues on as though they have the right-of-way. This is just wrong!

Customer expect to be treated with respect

The point of this is, our employees are an extension of our business image and values. More often than not they are the front line, customer facing vehicle of your company. How they act or conduct themselves reflects directly on your organization. Customer expect to be treated with respect and courtesy.

Although you may not think you need to explain these norms to employees, I’m letting you know, it’s one more thing you need to address. Assuming that employees get it, is always a mistake. Just consider the hotel example. So, if you expect employees to act in a certain way, then the only way to ensure a certain behaviour is to tell them what you expect.

It defines superior customer service

On the other hand, if you don’t think an employee cutting off a customer or not holding a door is no big deal, then you may have bigger problems, because it matters. You need to care at the granular level about these service issues. It’s part of what defines superior customer service and professionalism. It’s about respecting your customers.

Because respecting your customer, will never go out of fashion.

You may also enjoy Training Your Team

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM # 76 – Pick Up the Phone

Podcast: Play in new window | Download

Listen on Apple Podcast
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Listen on Google Podcast

Technology has been an amazing boon for businesses of every size, but none more so than for small businesses. Having come of age as an entrepreneur through the technology evolution, it’s truly amazing that what once took days by many, is now done in minutes by one person.

The development and ease of use of current technology now allows small businesses to compete with much larger organizations. Software applications that once would have cost the small business owner a fortune to purchase, along with the hardware to run these applications, are now available for pennies a day and hosted on the cloud. Heck, most can be managed on your smartphone, giving you true mobility and freedom.

Small screen and keypad restrictive

I admit that, try as I might, there are just somethings that I can’t manage well on a smartphone. Whether that’s because the screen size or fat finger syndrome, I just prefer a much larger interface. Don’t get me wrong I love having all this capability in the palm of my hand, but I find the small screen and keypad restrictive.

I read somewhere once that smartphones and tablets are for consuming information, whereas laptops and desktops are for inputting information. I guess the reason I remembered this, is because it certainly rang true to me. Hats off though, to those that can manage everything on their smartphones!

This simple app never gets credit

However, one the most powerful apps included in every smartphone that gets used less and less every day, is the phone app. This powerful, yet simple app never gets any credit or hype, yet has the ability to increase our efficiency and productivity many times over.

Unlike so many of our other available communication apps, this simple app can cut through the clutter that fills our inboxes and messaging apps. Aside from calling a customer service line, where you’re put in a cue, because our call is important, if someone is available, they’ll usually answer the phone. This then becomes an opportunity to create a personal interaction that is sorely missing in todays business environment.

Calling someone to get an answer, is far quicker than writing an email or sending a text message. Talking to someone on the phone reinforces the relationship and that’s a critical element in a selling situation. One major advantage a phone call has over just every other communication vehicle, except face to face interaction, is the ability to hear an individual’s emotions.

It reinforces relationships

This live interaction gives you the opportunity to clarify or reinforce your position based on the feedback you’re receiving. A phone call allows to adjust on the spot should the situation change or if someone is having a bad day. You can’t really do that once you’ve hit send on that email or text message.

In addition, when two people are having a conversation, you can typically benefit from added information that is shared during a conversation. This information can be personal or business and serves again to reinforce the relationship. This rarely happens in email or text communications.

Phone calls also have an immediacy. Once more, if the individual is available, you’re not having to wait hours or days for a response that is becoming the norm with many electronic communications. Most interactions via the phone are usually just a clarification on some outstanding issue. If necessary, a follow up email can always be sent later as a confirmation. Meanwhile, by making a call, you get your answer and can then move forward with your task at hand.

Phone calls are personal

I’m constantly having to remind clients to pick up the phone when I see them starting to compose an email or text message. As a small business owner, it’s incredibly important to connect on a human level as frequently as we can with our customers and prospective customers. It’s one more human touchpoint. In many cases it can be a point of difference between you and your competition, because a phone call is personal.

I’m not sure how we’ve managed to move away from this tool but as the chasm grows between human interaction, I predict that we may see a resurgence in it’s use. I for one hopes so. So next time you’ve got a question for a customer, pick up the phone!

You may also enjoy Look as Good as You Sound

Copyright © Greg Weatherdon 2019

Sign up above to receive email notification of the latest update to this blog.

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM #75 – Get Clear Air

Podcast: Play in new window | Download

Listen on Apple Podcast
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Listen on Google Podcast

In the movie Top Gun, Maverick and Goose are flying in close formation with Iceman in a training manoeuvre as they try to shoot down a much nimbler fictitious Russian MiG fighter. Maverick having been accused of abandoning his wingmen in the past, is sticking tight to Iceman but clearly has “the shot”.

Maverick pleads with Iceman to break off and let him take the shot. Iceman’s rebuttal is that he only needs a few more seconds to acquire the target. Finally, after what seems like an eternity, Iceman capitulates and breaks hard right as Maverick has requested and that’s when things get really ugly for Maverick and Goose.

When Iceman finally relinquished his position by breaking hard right, the airflow over the wings of Maverick’s plane became disrupted. What was once clear air flowing across his wings, turned into a vortex of turbulent erratic air. This clear air disruption meant the plane’s wings lost their lift capabilities. Suddenly, the plane was into a flat spin, from which Maverick couldn’t recover and cost Goose his life.

It’s good enough for me

Of course, this was fictional, but serves as a great example of what happens to too many businesses that don’t set their own strategy. They blindly follow a competitor’s lead assuming all along that “if it’s good enough for them, it’s good enough for me.” But what you don’t know is, what conditions they are operating under.

Thoughtlessly following a competitor’s strategy is just being lazy and leaves you vulnerable. Taking the time to set your own course is time well spent.

Your flight path

Charting your own flight path minimizes the risk of being caught up in a competitor’s vortex. You decide what to sell, who you want to sell to and where you want to sell. Paying too much attention to your competitor, restricts your ability to come up with creative solutions. Just because it’s never been done before, does mean it can’t.

Throughout my career I’ve broken the rules many times and received very little push back. In most cases it opened up a huge competitive gap that gave me a significant advantage over my competition. I didn’t have to wait for them to clear out of the way, because I wasn’t following anybody, as I had clear air all the way.

Clear air

How do you find clear air? Most of the time, it’s simply a matter of looking around and seeing what others outside of your industry are doing. We get so immersed in our industries, that we forget that people are doing new and creative things everywhere, in every industry and every day. You need to be aware of your surroundings, of what’s going on around. Once you develop this habit, you’ll begin to see a myriad of new ideas or opportunities that others have overlooked.

Copyright © Greg Weatherdon 2019

Sign up above to receive email notification of the latest update to this blog.

 

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.

Get More LIFE Out of Your Business

ORDER HERE

SBM #71 – The One Thing

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In the movie City Slickers, Jack Palance’s character Curly and Billy Crystal’s character Mitch are riding along having a bonding moment, when Curly turns to Mitch and asks,

Curly: Do you know what the secret to life is?

Mitch: No What?

Curly: This! (As he holds up one finger)

Mitch: Your finger?

Curly: One thing. Just one thing. You stick to that and everything else doesn’t mean (expletive).

Mitch: That’s great, but what’s the one thing?

Curly: That’s what you gotta figure out

I’m always reminded of that scene whenever I ask my clients “What’s the number one thing every business needs in order to succeed?” Inevitably, I get a number of different answers that include reputation, a good product, good customer service, great staff, hard work and so on. 

Quite frankly they’re all wonderful valid answers and easily qualify within the top 5 items, but not what I consider the most important item. However, every once in a while, I get the answer I’m looking for, and that answer is money!

Try doing anything without money

Money pays the rent, the staff, the new pc’s, product or service development, etc. It’s what keeps the lights on. Money affords you the opportunity to create great products or services. Money allows you to provide great customer service. Money allows you to provide a great work environment. Don’t believe me? Try doing anything in your business without money.

Generating profitable revenue, getting paid and controlling expenses are the key elements to getting money. Do enough of these you’re your bank account grows. I know this sounds pretty simplistic to many, but unfortunately, countless owners don’t get it. What I typical come across are owners spending their time on non-revenue generating activities. Although they’re busy, these activities are just a waste of time and are usually a substitute for doing the things that they should be doing, but don’t like doing, such as a prospecting, follow up calls or networking.

The thing is, the longer they put off doing the important stuff, the longer they’ll struggle. What they fail to realize is that they only have to do these uncomfortable tasks until such time as they can afford to hire someone else to do them. Therefore, it’s in their best interest to focus as much of their attention on generating as much profitable revenue as possible.

Other reasons for building a healthy bank balance is to avoid stress. Running a small business is full of stress and an opportunity to minimize the any of it, is welcomed. Having a healthy bank balance means not stressing over making payroll or paying your suppliers. Having money in your account means being able to take a regular paycheque.

Weather any storm

One of the biggest benefits to having money in the account, is being able to weather any form of revenue drought. Over the course of the 17 years I owned the Marketing Resource Group, we would inevitably have one month of the year where revenues would go to zero. Not just slow down, but really go to zero!

When it first happened, I remember getting very concerned wondering what the heck was going on. Had our service model run its course? Had our clients found another supplier? Had they found an alternative solution? It’s the kind of thing that could really ruin your day, week or month and keep you up at nights.

The first time it occurred was in January, I justified it by saying our clients are just a slow getting back into the swing of things following the Christmas holidays. The next year, it happened again, but this time in March. Once again, I was stressing over it. However, when revenue recovered the following month, I chalked it up to Spring Break distracting my clients. Year over year in continued to happen, but strangely never the same month. Fortunately, as time went on, it became a non event and I just accepted the fact that we would lose a month of revenue every year.

Maintain discipline

The upside of this, is that those quiet months would give us almost four weeks in which to get caught up on a ton of housekeeping activities that we couldn’t get done the rest of the year. Eventually, we actually, planned these activities for our down month. All this to say, that this is another luxury of having money in the account. We didn’t panic, or should I say I didn’t panic anymore. We didn’t rush out and change our strategy or desperately take on any old piece of business just to generate some cash. And we didn’t lay off anyone. We just kept doing what we had always done. We maintained our discipline in targeting those clients we wanted to do business with and with full confidence that the business would return to normal. You can’t do that when your account is empty.

I do recognize, that having money tempts us to get little careless and spend it on “nice to have, versus need to have” items. But those temptations are easier and less stressful to deal with, than having no money.

Curly might be right, that as individuals we each must find our own “one thing” but when it comes to owning a business, there is only one thing, and that’s money!

You may also enjoy Pricing For Profit

Copyright © Greg Weatherdon 2018

Sign up above to receive email notification of the latest update to this blog.

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.

Get More LIFE Out of Your Business

ORDER HERE

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