Monday, April 25, 2011

Gains vs. Losses

So which one is it and how do you react when it happens? Year-end for businesses can happen any time of the year. How do you keep your team in the loop about progress towards goals – sales, profits, bonus thresholds? It is important to ensure that everyone knows where they stand in relation to the organization’s goals so that there are no surprises.

Here are a few tips to avoid surprises:

a. If you have a convoluted formula for figuring out the bonus thresholds, make sure new hires are well-versed (or at least taught) the calculation.

b. Host quarterly, if not monthly, meetings to review the numbers with all stakeholders, and provide the benchmarks so that everyone can see what needs to be made up or if they are ahead.

c. Keep projections realistic.

It’s the surprise that hurts. To avoid losses in the people column, take time with the information that triggers on the dollars & cents of the job.

Monday, April 18, 2011

Business Owners: Keep Cash in Your Jeans

Every once and a while you connect with someone that really hits the heart of what you do.  My new friend Shannon Rickwood loves to provide seminars that will educate her clients and potential future clients.  Shannon is energetic and finds her network open to sharing their knowledge and expertise to add value to the relationships she builds.

See - you don't have to do everything yourself. Connect with Shannon Rickwood on LinkedIn by clicking here.  Or call her at 519-946-1016 to find out more about her series.

Friday, April 15, 2011

The Soft Side of Leadership

Leaders develop skills, some are innate and need to be polished. There are soft skills and hard skills. Soft are interior and show outwardly through the heart and soul of the leader. Hard skills are tactical and executionary ( don't worry, I'll write on this too!)

Review this list and put a check mark next to each soft leadership skill that applies to you.

Decision making
Communication skills
Self motivation
Influencing others
Relationship builder

  • Go back through the list and put an arrow pointing up next to the items which you need to develop in the next 6 months.P
  • Put a dot next to the items that are categorized in your mind as your strengths.
  • Take the arrow items and write them out in the boxes below. Develop actions that can help you over the next 6 months, move in a new direction with these skills. Here are a few examples:
1- creativity....use the brainstorming app for iPod or iPad and brainstorm on a timer instead of jumping to the first answer in your head. Use at least 4 times in the next month to solve problems.

2- networking....attend 3 networking events in the next six months with the goal of meeting 3 new people by simply asking them about themselves....what do they do, why did they chose to attend this networking event?

  • Look at the dotted items. Why do you consider these your strengths? Write down your answer next to each one.
  • If you are bold, or confident, ask others ( at least 3 people) if they consider these same items your strengths and why. You'll be amazed at the feedback. Also, if you are really feeling gutsy....ask if they have any other suggestions.

Monday, April 11, 2011

Be an Effective Solo Business Leader

Business owners who fly solo need to understand their level of effectiveness. Each business would measure this differently so here is a quick list to determine two things-effective true or false and how effective:

1. Reflect upon experiences to become more discerning in selecting clients, projects and goals.

2. Understand what to let go of and what to pursue based on the goals of the business.

3. Create a like to do/don't like to do list and compare it against how each item affects attitude, motivation, ability to complete work, reach goals

4. Take time to reflect and consider what is working and why. Is there a pattern that links the 'working' together?

5. When I tackle the items that are in the pending file, what is the outcome in attitude and and performance?

6. Determine what projects build confidence.

7. Determine if ' the main thing is the main thing'.

8. Understand if where time is invested is paying back in revenue or leads.

Looking at every item on the list is really focusing on what is a nice to do versus a need to do. When nice to do produces cash, the need to do becomes easier. At the beginning, many entrepreneurs focus on the nice to do instead of the need to do to be effective and then move toward operating a nice to do business all the time.

Friday, April 8, 2011

Would You Work for You?

Entrepreneurs can get so focused on working on business projects that they forget to get out and about to acquire new business or investigate emerging markets, work on developing new projects. The 'need to' thoughts start to pop up.

" I need to market like I used to", "I need to do my financials regularly", " I need to know where my business is growing", and the biggest one of all " I need to understand if I still want to do this".

Take a moment to turn the 'need to' thoughts into specific opportunities as if the business had an army of employees. If those same questions were asked by the leadership of the company what would happen? The one question that would come back is 'why aren't you doing that?'. Would you work for a leader who asked these questions?

To be considered even further is the ' I still want to do this' thought. A leader needs to be fully vested or have the courage to completely change direction, if that is truly what it takes. An employee considers the following when working for a happy they are, the income they make, if they are passionate about the business, if there is a challenge within the business? Take the same measurements as an entrepreneur to determine if the ' still want to do this' opportunity still exists.

Determining if you still want to work for you is the key to success for your business.

Monday, April 4, 2011

Grow Rich #11

Change is constant.  See nature for reference.
Hill had a sense of humour and his wordplay was great.  This last and final quote really made everything come to a single space in my mind.  The opportunities the world gives me are because I attract them through the love and respect I have for myself and those around me.  What I do with those opportunities is up to me and my open mind, giving me greater challenges and ways to use my strengths, be disciplined and face the changes that come my way.

Enjoy the book - you will look at everything differently when you are done.


Friday, April 1, 2011

Grow Rich #10

Your mind can reach beyond itself.
It is stregthened by peace and harmony.

Eventually all the pages in  Grow Rich! connect and images start to form.  I see a large tree with many branches all sprouting from the same trunk - similar to the photo above.  Hill makes it very obvious that all the lines in the mind connect - removing toxins (or toxic things/people) from our lives gives us peace and harmony, leading to the ability for our mind to stretch and grow, further than we ever imagined.
This peace and harmony is also a way for minds to connect and form a Mastermind, creating an environment for growth and development, collaboration and innovation that could never have existed with a single mind.

Free Teleseminar - click to sign up!