Monthly Archives

June 2018

The Weakest Link

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So many times I’ve heard the phrase, “You’re only as strong as your weakest link.”  This is touted in the military and throughout sports teams, as well as in business.  But what does this mean for your business?

Whether you hired your team 5 years ago or you’re just looking into expanding there are several key factors to consider when developing your business support staff and to keep your links consistently strong.

Personality.  Let’s face it, a drama filled workplace is not cohesive.  It is disruptive and draining for everyone – including your customers. Realistically no matter how hard you try to hide it or keep it behind closed doors, your customers will see and feel the drama vibe. This is why it’s very important to consider the personalities of the people you want to put together.  Consider what they bring to the table. Ask them how they problem solve. Ask them how they communicate best. But most importantly, talk to them about previous employers and co-workers If they immediately start talking about troubles and issues, it’s a sure fire bet that they were part of the problems.

Availability.  When you hire new people you have expectations of what is needed and hours that need to be filled.  Some people when asked about their availability will be limited based on their other commitments. Be sure to pay attention to their other commitments so you can determine if those obligations would bleed through into the work you need them to be present for in your company.  I encourage my personnel to have outside interests and to ‘get away’ from the workplace, but at the same time you want them to have a sense of commitment to your needs as well.

Drive. This is something that is harder and harder to find as you search for help.  The ‘sense of urgency’ is something that few people understand. You don’t want people who are just counting the minutes on the clock.  You want employees who are vested in what you are doing and understand the importance of deadlines. As an employer you need to decide if you’re willing to pay overtime to meet deadlines if it’s needed.

Strengths. To have success in a workplace you need people to work within their strengths.  Focusing on their weaknesses isn’t gaining anything for the team as a whole. Your goal is to have a unit who work together, each in their own area of expertise. You need to put together a group of people who have different strengths and those who are willing to work in their area of expertise. Admittedly, there are times in business when people will need to wear multiple hats and do other jobs, but for the most part you want them working where they will see success.  This creates strong people in a strong link.

Remember, one of the biggest assets – and personal audits – is to know your personal weaknesses.  Surround yourself with people who are good at doing what you can’t, or don’t want to.

The Devil’s in the Details

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Being a business owner is a multi leveled and sometimes multi personality, ongoing crazy train with mountain highs and valley lows intermixed.  Phew! 

“Never a dull moment.” they said. “Always an adventure”, they claimed.

Crazy train or not – this is your business.  Your life – YOUR adventure.  So buckle up!

Just as you need to visit the 50 ft view of your business  – you also need to drill down into your business on a regular basis.  Consider it a self inflicted business audit. Your business could have leaks you don’t know about. You could have potential issues you have let slide. And we all know that leaks – especially the unsuspecting ones are what can sink a ship.

A few things to consider …

If you have memberships and subscriptions for your business, yourself or your employees, you need to check on these from time to time. They could be memberships to online courses, subscriptions to software or access to platforms.  Some may be obsolete to your business but haven’t been canceled. Some you may have outgrown.  The more employees you have, the more you may find this internal audit pertinent to your business. If you are on the fence about keeping a service, reach out to the company and see if they have a lesser package or will discount your rate.  It’s amazing what some companies will do to save you as a customer.

If you sell products online, do you check for failed payments or abandoned carts? This is a huge area of leaking money.  If you have failed payments on subscriptions or on payment plans – they can easily get missed. You need to have these audited at least twice a month.  If you have an online store make sure you setup an automated abandoned cart sequence to reach out to your customers when they have left items unpurchased. 

If you change employees, do you have a procedure for offboarding?  Changing passwords, cleaning up files, transferring information. Many people think this isn’t necessary or perhaps they will get to it ‘later’.  We all know that ‘later’ is easily forgotten. Make sure you have a documented process for locking down information when employees leave the company.  This isn’t a process out of fear – this is a process out of necessity.

A profitable business isn’t just about making money.. It’s about finding the areas to save in.  A penny saved is a penny earned, right? Regardless if it’s new revenue through increased sales or found revenue in savings, it still increases your bottom line.  So don’t discount the ability to find savings for your business. 

Remember, just because it’s what has always been done, doesn’t mean it’s still relevant today.  Keep this in mind as you schedule quarterly audits of your business.