"There are no mistakes, no coincidences. All events are blessings given to us to learn from." ~Elizabeth Kubler-Ross
As I go around and talk to entrepreneurs, one of the most common statements that I hear is, "It was a mistake when I did--- ." Somehow, we all feel as if we should have been wise enough to avoid making mistakes. I am here to say that this is a false notion. Mistakes are part of life and perfection is just not achievable. I have never met a perfect entrepreneur nor will there ever be one.
Mistakes are just going to happen, period! If you go back and think about how you define mistakes it is with hindsight that you wish you had made another decision. However, at the time you made your original decision, you really made the best decision you could have with the knowledge and facts that you had on hand at that moment.
While mistakes are going to happen, I encourage you not to beat yourself up about these. So many folks just keep whipping themselves over and over for the "poor" decisions they have made. Has this whipping ever made you feel better? It has never helped me! Rather than beating yourself up, use the quote above by Elizabeth Kubler-Ross to find out what you can learn from this experience. For example, if you find that you believe that workers have been taking advantage of you because you have been too nice or too giving, ask yourself what you can learn from this experience. Some things of value that may be learned here include:
It is okay to say "no" to associates,
I do not need my associates to like me,
or I need to be firmer.
Mistakes are a way to grow. As we learn what works and what does not work, we learn how to adapt and prosper. Now I am not advocating for you to go out and deliberately make mistakes, rather I am suggesting that mistakes aid you in becoming a better entrepreneur. If you ask the most prosperous entrepreneurs where they learned the most, without hesitation, they will always respond: "from their mistakes."
Obviously, if you are at a critical juncture with your business, then you need to insure that, if a bad decision is made, it will have the smallest impact possible. Reducing the risk or cost of making a mistake, really helps you to make better decisions for your business. One great way to help in this process is to talk to as many people as possible about this decision. These people should be knowledgeable in the area of your concern.
The type of mistakes that you really do need to examine very carefully are the ones that you repeat over and over. If you find that you are making the same mistake, then you are not learning what you need to learn from this experience. I think a great concept is that "we want to make new mistakes and not repeat old mistakes."
Mistakes are a fact of life and are inescapable. We must carefully examine our mistakes and learn something from each of them if we are going to prosper from the learning experiences presented to us.
Sunday, January 9, 2011
Sunday, January 2, 2011
Be Careful When Starting A New Business!
"You don't know until you know how much you don't know.” ~Anonymous
Starting a business is hard, but many people believe that if you have the passion and energy, you can be successful. This however, is just not the case. Before you step up to run a business, you must have experience and knowledge.
A wonderful lady was referred to us for help with her new restaurant venture. She had worked as a nurse for over 20 years and was just worn out. Her hardworking son, who was a good cook and currently unemployed, would join her in the business. She really felt that this restaurant would provide the income she and her son needed.
After months of searching, she found a location she could afford. Though the rent was a perfect fit, there was no parking, the location was poor, the equipment was in need of repair and three other restaurants had already failed in that very same location. The owner of the property was aware of its shortcomings, which probably explains why he was willing to offer a year lease. A one-year lease is completely unheard of in the restaurant business.
My colleague, Barbara Lay, and I met with the hopeful restaurateur one morning over coffee. She was three days away from signing the lease on the property, and she was so excited about what she had convinced herself was the perfect location. You could just feel it as she told us about the building.
This woman was completely convinced that starting her own restaurant would solve so many of her problems. However, as we talked, we discovered that she had absolutely no experience with accounting, marketing or even setting up a menu.
She did not consider her lack of experience a problem. She thought she would pick things up quickly once she put in the requisite effort. She also said that, like her son, she loved to cook, and she had waited tables in college.
Though her can-do attitude was admirable, we had to caution her against moving forward without experience. Being inexperienced in the business you are trying to start will frequently result in very expensive mistakes.
In response to these warnings, she kept insisting that she would learn as she went along. To prove my point, I asked her if she would let an untrained person perform nursing procedures. Of course the answer was no. This example seemed to resonate, and she understood my point.
Many of this woman’s friends had encouraged her to move forward with the venture. However, we advised her not to completely trust her friends’ opinions. Because they are her friends and they want to see her succeed, it would be very difficult for them to be completely honest with her. They were acting out of their desire to be supportive.
As we continued to gently prod her about her concept, some tears were shed, and we knew she felt that we were destroying her dream. However, we continually reassured her that we were not suggesting she abandon the restaurant idea altogether, merely that she postpone it long enough to acquire the necessary experience and knowledge. Once she had the tools she needed to succeed, she could move forward. We suggested that she take QuickBooks classes, a marketing course and start working in the industry.
This potential start-up turned out fine, but many other start-ups fail because the owner lacks the tools to successfully manage their new business.
Now go out and make sure you have the training you need to be successful before you start or buy a business.
You can do this!
Starting a business is hard, but many people believe that if you have the passion and energy, you can be successful. This however, is just not the case. Before you step up to run a business, you must have experience and knowledge.
A wonderful lady was referred to us for help with her new restaurant venture. She had worked as a nurse for over 20 years and was just worn out. Her hardworking son, who was a good cook and currently unemployed, would join her in the business. She really felt that this restaurant would provide the income she and her son needed.
After months of searching, she found a location she could afford. Though the rent was a perfect fit, there was no parking, the location was poor, the equipment was in need of repair and three other restaurants had already failed in that very same location. The owner of the property was aware of its shortcomings, which probably explains why he was willing to offer a year lease. A one-year lease is completely unheard of in the restaurant business.
My colleague, Barbara Lay, and I met with the hopeful restaurateur one morning over coffee. She was three days away from signing the lease on the property, and she was so excited about what she had convinced herself was the perfect location. You could just feel it as she told us about the building.
This woman was completely convinced that starting her own restaurant would solve so many of her problems. However, as we talked, we discovered that she had absolutely no experience with accounting, marketing or even setting up a menu.
She did not consider her lack of experience a problem. She thought she would pick things up quickly once she put in the requisite effort. She also said that, like her son, she loved to cook, and she had waited tables in college.
Though her can-do attitude was admirable, we had to caution her against moving forward without experience. Being inexperienced in the business you are trying to start will frequently result in very expensive mistakes.
In response to these warnings, she kept insisting that she would learn as she went along. To prove my point, I asked her if she would let an untrained person perform nursing procedures. Of course the answer was no. This example seemed to resonate, and she understood my point.
Many of this woman’s friends had encouraged her to move forward with the venture. However, we advised her not to completely trust her friends’ opinions. Because they are her friends and they want to see her succeed, it would be very difficult for them to be completely honest with her. They were acting out of their desire to be supportive.
As we continued to gently prod her about her concept, some tears were shed, and we knew she felt that we were destroying her dream. However, we continually reassured her that we were not suggesting she abandon the restaurant idea altogether, merely that she postpone it long enough to acquire the necessary experience and knowledge. Once she had the tools she needed to succeed, she could move forward. We suggested that she take QuickBooks classes, a marketing course and start working in the industry.
This potential start-up turned out fine, but many other start-ups fail because the owner lacks the tools to successfully manage their new business.
Now go out and make sure you have the training you need to be successful before you start or buy a business.
You can do this!
Resolutions for 2011
“It is change, continuing change, inevitable change, that is the dominant factor in society today. No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be. This, in turn, means that our statesmen, our businessmen, our every man must take on a science fictional way of thinking.” ~Isaac Asimov
As we move into a New Year, it is so important to take some time and think of what you can do to run your business better in this year as compared to last year. Maintaining the status quo is just not acceptable and setting reasonable goals for year 2011 are so, so important.
Obviously, in 2011, the economy is going to continue to improve and really hit its stride in the last quarter of the year or the beginning of 2012. With that, we should see a pick-up of both inflation and interest rates. Additionally, unemployment will continue to be a significant problem as the economy can only absorb so many jobs every month and it is going to take over 3 years to get this unemployment rate down.
Given those environmental factors, here are some goals or resolutions for you to consider and adopt for your business. First, a very important goal for this year has got to be increasing both gross profit margins and net profit margins. If your net profit margin last was 5% then set a reasonable goal this year of hitting 7%. You can easily reach a higher net profit margin my reducing costs by just 2% which is pretty easy to do. The net profit margin (NPM) is so influenced by the gross profit margin (GPM). In a like manner, if your gross profit margin has been 38% then shoot to increase this to 40%. The way you hit these higher margins is making sure that with every decision you make, you consider the impact of profitability. Over the last couple of years with our economy, most businesses just tried to survive but now you must focus hard on profits and profit improvement.
Another goal is to fire yourself on January 1st and evaluate what new skills and knowledge that you must have for 2011. Most entrepreneurs are constantly evaluating their staff and business but just do not take time to evaluate themselves as the leader. If you should feel that you are weak in finance, then take some courses and read some books in this area. However, the real point here is that you must take time at the beginning of this year and assess how effective you are. Sometimes the best way to do this is to hire an outside consultant to come in and do a formal evaluation of your skills. No one should ever think that they are good as they can be as this normally generates an attitude of complacency.
The final critical resolution and goal is to map out some personal goals for yourself apart from your business. For example it is so important that you take time to make sure that you are physically fit. Time spent on this allows you to be so much more effective in leading your business. Additionally, figure out what additional things that you need to do support your family with your time.
Now go out and set some goals to deal with increasing your profit margins, ascertain the additional training that you need and develop some personal goals for you and your family.
You can do this!!
As we move into a New Year, it is so important to take some time and think of what you can do to run your business better in this year as compared to last year. Maintaining the status quo is just not acceptable and setting reasonable goals for year 2011 are so, so important.
Obviously, in 2011, the economy is going to continue to improve and really hit its stride in the last quarter of the year or the beginning of 2012. With that, we should see a pick-up of both inflation and interest rates. Additionally, unemployment will continue to be a significant problem as the economy can only absorb so many jobs every month and it is going to take over 3 years to get this unemployment rate down.
Given those environmental factors, here are some goals or resolutions for you to consider and adopt for your business. First, a very important goal for this year has got to be increasing both gross profit margins and net profit margins. If your net profit margin last was 5% then set a reasonable goal this year of hitting 7%. You can easily reach a higher net profit margin my reducing costs by just 2% which is pretty easy to do. The net profit margin (NPM) is so influenced by the gross profit margin (GPM). In a like manner, if your gross profit margin has been 38% then shoot to increase this to 40%. The way you hit these higher margins is making sure that with every decision you make, you consider the impact of profitability. Over the last couple of years with our economy, most businesses just tried to survive but now you must focus hard on profits and profit improvement.
Another goal is to fire yourself on January 1st and evaluate what new skills and knowledge that you must have for 2011. Most entrepreneurs are constantly evaluating their staff and business but just do not take time to evaluate themselves as the leader. If you should feel that you are weak in finance, then take some courses and read some books in this area. However, the real point here is that you must take time at the beginning of this year and assess how effective you are. Sometimes the best way to do this is to hire an outside consultant to come in and do a formal evaluation of your skills. No one should ever think that they are good as they can be as this normally generates an attitude of complacency.
The final critical resolution and goal is to map out some personal goals for yourself apart from your business. For example it is so important that you take time to make sure that you are physically fit. Time spent on this allows you to be so much more effective in leading your business. Additionally, figure out what additional things that you need to do support your family with your time.
Now go out and set some goals to deal with increasing your profit margins, ascertain the additional training that you need and develop some personal goals for you and your family.
You can do this!!
Sunday, December 19, 2010
Friends as Employees
“Who ceases to be a friend never was one.” ~Greek Proverb
Every entrepreneur wants to get the best help he or she can. However, hiring friends or befriending employees is a recipe for disaster and should be avoided if possible. Do not mistake being “friendly” and being “friends” as one in the same. You want to be friendly with your staff, but you do not want to be friends with them. There is a vast difference between the two.
Five years ago, a wonderful entrepreneur hired an office manager. This employee’s birthday happened to fall three days after she was hired, and she mentioned to her employer that her parents never really gave her much of a birthday. Hearing this, the entrepreneur went out and bought balloons, flowers and a very nice gift, and even took her out to a very nice lunch. This became a tradition that continued year after year.
The entrepreneur treated this employee as a member of the family and frequently asked her to come along on family get-togethers. Additionally, the entrepreneur kept giving this employee raises as she just could not say no to her friend. Consequently, the employee was being grossly overpaid for the work she was doing.
Over time, as the line between “employee” and “friend” became increasingly blurred, the entrepreneur began to see issues with the employee’s performance. She frequently found work that the employee had not done, but she never brought it up because she feared hurting the employee’s feelings.
The obvious solution was to let this employee go – these issues were more than sufficient to justify termination of a normal employee. But this entrepreneur had not treated this worker as a normal employee. She was a friend, and the entrepreneur was reluctant to take any action knowing the friendship would be lost.
In addition, the employee and entrepreneur shared a strong bond reinforced daily by their close working relationship. Their desks were adjacent to one another, and the entrepreneur just could not see herself running the business without this employee. She felt she was invaluable to the firm.
If not for the economic downturn, this cozy relationship would have continued indefinitely. However, as cash became tight, the entrepreneur was forced to look at all possibilities for cutting costs. As it turned out, the only element she could really control was this employee’s salary.
This was a very difficult decision for this entrepreneur, and I spent a lot of time working with her. Once I was able to articulate that all of the problems they were experiencing with the business revolved around this one employee, the entrepreneur understood what was necessary.
Did I say anything that the entrepreneur had not already considered? No. All I did was reinforce what she knew to be true. That is why advice from an outside consultant is so useful.
The entrepreneur is now in the process now of finding a replacement at a much lower salary. She has promised me that she will not make the same mistake again by befriending the new employee.
Now go out and see if a friendship you have with an employee is negatively affecting your company’s morale or the employee’s performance. If it is, you must either step back into a more professional relationship or consider letting this employee go. This will not be easy, but these issues must be addressed for the well being of your business.
You can do this!
Every entrepreneur wants to get the best help he or she can. However, hiring friends or befriending employees is a recipe for disaster and should be avoided if possible. Do not mistake being “friendly” and being “friends” as one in the same. You want to be friendly with your staff, but you do not want to be friends with them. There is a vast difference between the two.
Five years ago, a wonderful entrepreneur hired an office manager. This employee’s birthday happened to fall three days after she was hired, and she mentioned to her employer that her parents never really gave her much of a birthday. Hearing this, the entrepreneur went out and bought balloons, flowers and a very nice gift, and even took her out to a very nice lunch. This became a tradition that continued year after year.
The entrepreneur treated this employee as a member of the family and frequently asked her to come along on family get-togethers. Additionally, the entrepreneur kept giving this employee raises as she just could not say no to her friend. Consequently, the employee was being grossly overpaid for the work she was doing.
Over time, as the line between “employee” and “friend” became increasingly blurred, the entrepreneur began to see issues with the employee’s performance. She frequently found work that the employee had not done, but she never brought it up because she feared hurting the employee’s feelings.
The obvious solution was to let this employee go – these issues were more than sufficient to justify termination of a normal employee. But this entrepreneur had not treated this worker as a normal employee. She was a friend, and the entrepreneur was reluctant to take any action knowing the friendship would be lost.
In addition, the employee and entrepreneur shared a strong bond reinforced daily by their close working relationship. Their desks were adjacent to one another, and the entrepreneur just could not see herself running the business without this employee. She felt she was invaluable to the firm.
If not for the economic downturn, this cozy relationship would have continued indefinitely. However, as cash became tight, the entrepreneur was forced to look at all possibilities for cutting costs. As it turned out, the only element she could really control was this employee’s salary.
This was a very difficult decision for this entrepreneur, and I spent a lot of time working with her. Once I was able to articulate that all of the problems they were experiencing with the business revolved around this one employee, the entrepreneur understood what was necessary.
Did I say anything that the entrepreneur had not already considered? No. All I did was reinforce what she knew to be true. That is why advice from an outside consultant is so useful.
The entrepreneur is now in the process now of finding a replacement at a much lower salary. She has promised me that she will not make the same mistake again by befriending the new employee.
Now go out and see if a friendship you have with an employee is negatively affecting your company’s morale or the employee’s performance. If it is, you must either step back into a more professional relationship or consider letting this employee go. This will not be easy, but these issues must be addressed for the well being of your business.
You can do this!
Sunday, December 12, 2010
Employee Input Or In The Catfish Line
“It takes a great man to be a good listener.” ~ Calvin Coolidge
There is no question in my mind that listening to your employees is almost as important as listening to your customers. Time and again, I see entrepreneurs underestimate the value of their employees’ opinions. Many times, entrepreneurs think they are the only ones who know how to improve their business, and it never even occurs to them to ask their staff how they might make it better.
Ignoring your staff is equivalent to a physician ignoring a patient’s concerns. In both cases, valuable information is lost and major damage can be done.
There is a neat company called King Arthur’s Tools. The company is run by Arthur and Pamela Aveling, who in the interests of fair disclosure, are also my good friends and clients of the Jim Moran Institute for more than 12 years.
King Arthur’s sells woodworking tools to both distributors and hobbyists. They either buy or manufacture to their specifications the various components of these tools. When an order is received, a packing slip is generated and sent to the warehouse, where most of the packing is handled by Warehouse Manager Henry Williams. A very loyal and hardworking employee, Henry has been with King Arthur’s for more than three years.
At one of King Arthur’s retreats, the staff was working on the company’s core values. After much discussion, Arthur asked Henry if he could think of anything that could improve his operation. Without hesitation, Henry said that he would like to have cards made identifying him as the one who packed the goods. He thought doing so would reduce the rate of error.
Everyone agreed that this would be a neat idea, and Henry and the staff got to work making the cards the very next day. They came up with three versions. Each version had a different message on it, but all of them included Henry’s picture and the phrase, “Packed with care by Henry.” The three alternate messages were as follows:
1. It was my pleasure assembling your order, and I hope you enjoy using your King Arthur’s tools on your project.
2. Your order was packed with care by Henry. Thank you.
3. King Arthur’s Tools loves to see what customers make with their tools. Post your photos on Facebook.
The response to these cards has been overwhelming. So many customers have commented on how much they liked them and what a neat concept it was. Many customers even called to thank Henry personally for their order.
The cost of implementing this idea was minimal, but the value was considerable. It improved the company’s relationship with their customers and made Henry feel good about what he is doing. It all came about because Arthur and Pamela Aveling were willing to listen to their staff.
Now go out and make sure that you are listening to both your customers and your employees. The best way to get input from your employees is simply to ask for it. Ask your staff if there is anything they think the company can do better. Even if some do not have something to contribute, they’ll know you welcome their input, which is invaluable.
You can do this!
There is no question in my mind that listening to your employees is almost as important as listening to your customers. Time and again, I see entrepreneurs underestimate the value of their employees’ opinions. Many times, entrepreneurs think they are the only ones who know how to improve their business, and it never even occurs to them to ask their staff how they might make it better.
Ignoring your staff is equivalent to a physician ignoring a patient’s concerns. In both cases, valuable information is lost and major damage can be done.
There is a neat company called King Arthur’s Tools. The company is run by Arthur and Pamela Aveling, who in the interests of fair disclosure, are also my good friends and clients of the Jim Moran Institute for more than 12 years.
King Arthur’s sells woodworking tools to both distributors and hobbyists. They either buy or manufacture to their specifications the various components of these tools. When an order is received, a packing slip is generated and sent to the warehouse, where most of the packing is handled by Warehouse Manager Henry Williams. A very loyal and hardworking employee, Henry has been with King Arthur’s for more than three years.
At one of King Arthur’s retreats, the staff was working on the company’s core values. After much discussion, Arthur asked Henry if he could think of anything that could improve his operation. Without hesitation, Henry said that he would like to have cards made identifying him as the one who packed the goods. He thought doing so would reduce the rate of error.
Everyone agreed that this would be a neat idea, and Henry and the staff got to work making the cards the very next day. They came up with three versions. Each version had a different message on it, but all of them included Henry’s picture and the phrase, “Packed with care by Henry.” The three alternate messages were as follows:
1. It was my pleasure assembling your order, and I hope you enjoy using your King Arthur’s tools on your project.
2. Your order was packed with care by Henry. Thank you.
3. King Arthur’s Tools loves to see what customers make with their tools. Post your photos on Facebook.
The response to these cards has been overwhelming. So many customers have commented on how much they liked them and what a neat concept it was. Many customers even called to thank Henry personally for their order.
The cost of implementing this idea was minimal, but the value was considerable. It improved the company’s relationship with their customers and made Henry feel good about what he is doing. It all came about because Arthur and Pamela Aveling were willing to listen to their staff.
Now go out and make sure that you are listening to both your customers and your employees. The best way to get input from your employees is simply to ask for it. Ask your staff if there is anything they think the company can do better. Even if some do not have something to contribute, they’ll know you welcome their input, which is invaluable.
You can do this!
Sunday, December 5, 2010
In the catfish line.
I
"Trust is the lubrication that makes it possible for organizations to work." ~Warren Bennis
Business is about relationships. These relationships can be with employees, customers or potential customers, and a host of others. Most people would rather deal with someone they know and trust than with a stranger. Just like the old cliché says, it is not what you know, but who you know that determines success.
So many times I have seen struggling entrepreneurs happen to mention their business problems to an acquaintance, who gets them connected with large potential customers. All this comes about because of a relationship between two people.
For this and so many other reasons, relationships are vital to each and every business, and you just never know when or where a relationship will be formed. You must constantly be on the lookout for opportunities to make connections.
About a year ago, I attended the Broward Urban League Gala as my new job with JMI has me helping minority entrepreneurs at Broward College. At the gala, they had multiple serving lines, one of which was for fresh fried catfish.
While standing in the catfish line, I started talking with the very nice couple ahead of me. The man’s name was Ed Key, and he was employed as an administrator at Broward College. We hit it off, so I suggested that we have lunch in a couple of days.
During this lunch, I mentioned that we were coaching minority entrepreneurs and organizing a minority business conference. Without me asking, Ed put me in contact with Norm Seavers, the head of their Entrepreneurship Institute. When I met with Norm, he stepped in and agreed to allow us to hold our minority business conference at their venue and to provide so much other assistance that we needed.
I began mentoring Ed, meeting with him every month during my visits to South Florida. During one of our meetings, he brought a friend of his, Marcell Haywood, with him. Marcell is a very successful entrepreneur, the owner of a company called Dirt Pros EVS. Starting only five years ago with a $300 investment, he has grown this business to over $5 million in sales.
I was so impressed with Marcell. Though he holds a master’s degree, he does not have a formal education in business, yet he has been so successful. During lunch, I asked Marcell if he would be the keynote speaker at our conference, and he agreed.
Our conference was a great success, and Marcell’s talk was the hit of the day. This outcome can be attributed, in large part, to a conversation I had with a stranger in the fried catfish line.
Now go out and work on improving as many relationships as you can. You never know how they will pay off.
You can do this.
"Trust is the lubrication that makes it possible for organizations to work." ~Warren Bennis
Business is about relationships. These relationships can be with employees, customers or potential customers, and a host of others. Most people would rather deal with someone they know and trust than with a stranger. Just like the old cliché says, it is not what you know, but who you know that determines success.
So many times I have seen struggling entrepreneurs happen to mention their business problems to an acquaintance, who gets them connected with large potential customers. All this comes about because of a relationship between two people.
For this and so many other reasons, relationships are vital to each and every business, and you just never know when or where a relationship will be formed. You must constantly be on the lookout for opportunities to make connections.
About a year ago, I attended the Broward Urban League Gala as my new job with JMI has me helping minority entrepreneurs at Broward College. At the gala, they had multiple serving lines, one of which was for fresh fried catfish.
While standing in the catfish line, I started talking with the very nice couple ahead of me. The man’s name was Ed Key, and he was employed as an administrator at Broward College. We hit it off, so I suggested that we have lunch in a couple of days.
During this lunch, I mentioned that we were coaching minority entrepreneurs and organizing a minority business conference. Without me asking, Ed put me in contact with Norm Seavers, the head of their Entrepreneurship Institute. When I met with Norm, he stepped in and agreed to allow us to hold our minority business conference at their venue and to provide so much other assistance that we needed.
I began mentoring Ed, meeting with him every month during my visits to South Florida. During one of our meetings, he brought a friend of his, Marcell Haywood, with him. Marcell is a very successful entrepreneur, the owner of a company called Dirt Pros EVS. Starting only five years ago with a $300 investment, he has grown this business to over $5 million in sales.
I was so impressed with Marcell. Though he holds a master’s degree, he does not have a formal education in business, yet he has been so successful. During lunch, I asked Marcell if he would be the keynote speaker at our conference, and he agreed.
Our conference was a great success, and Marcell’s talk was the hit of the day. This outcome can be attributed, in large part, to a conversation I had with a stranger in the fried catfish line.
Now go out and work on improving as many relationships as you can. You never know how they will pay off.
You can do this.
Sunday, November 28, 2010
Tips to be a great manager
"Motivation is everything. You can do the work of two people, but you can't be two people. Instead, you have to inspire the next guy down the line and get him to inspire his people." -Lee Iacocca
All of us want to be the best managers we can be. After all, our employees are our company. The more we can motivate our staff to feel good about what they do, the better our organizations will operate. Managing employees takes work and a commitment to help them succeed!
One great thing you can do is to find out what each employee’s goals are and then help them achieve those goals. Finding out what each person really wants out of life does two things. First, it tells the employee that you really care enough about them to ask. Sometimes staff just will not know their goals, which is okay, but just asking translates to caring. Second, once you know what their goals are, you can help them achieve them. It is so surprising to me how many managers just have no idea of what the career goals are of their staff. It is so important to think of yourself as a coach. Like an athletic coach, your job is guide the team members to be the best they can be.
Another thing, you really want to become a full time mentor with each of your employees because this really keeps your staff humming. That doesn't mean you are mentoring employees 12-hours a day, but that you have their success on your mind at all times. Evaluating your employees once a year is a one of those ideas that you really, really have to question. Normally an annual evaluation turns out to be the evaluation of only the last two weeks of an employee's work history. All employees, if they are human beings, need feedback to make sure they are living up their boss’s expectations. With only a yearly evaluation, frustration sets in quickly. I take each staff member out for a meal once a month. During that time, I try to find out how they are doing and to identify their needs. I also communicate how I feel they are doing in a clear and concise manner. Taking them out of the office really tells them that I want to be there to mentor them to be more and more successful. If you find the time to spend a few moments with each employee, you will be surprised what you might find out about your employees and how this individual time with them motivates them to succeed and promotes loyalty within the workplace.
Positive reinforcement is critical to being a great manager. So many times you hear staff members say that the manager only notices when I screw up and never notices when they do great things! Pay attention to great behavior and always recognize it whenever you see it. On a recent tour of a business I observed the owner who spotted one employee doing some great things. The entrepreneur stopped the tour to tell the employee what a great job he was doing. Recognizing great employee behaviors is a sure way to communicate to your staff how pleased you are with their performance.
Managing employees takes so much work and effort. However, it is so worthwhile because it makes your staff feel so much better about their work. Now go out and improve the ways you manage your staff.
You can do this!
All of us want to be the best managers we can be. After all, our employees are our company. The more we can motivate our staff to feel good about what they do, the better our organizations will operate. Managing employees takes work and a commitment to help them succeed!
One great thing you can do is to find out what each employee’s goals are and then help them achieve those goals. Finding out what each person really wants out of life does two things. First, it tells the employee that you really care enough about them to ask. Sometimes staff just will not know their goals, which is okay, but just asking translates to caring. Second, once you know what their goals are, you can help them achieve them. It is so surprising to me how many managers just have no idea of what the career goals are of their staff. It is so important to think of yourself as a coach. Like an athletic coach, your job is guide the team members to be the best they can be.
Another thing, you really want to become a full time mentor with each of your employees because this really keeps your staff humming. That doesn't mean you are mentoring employees 12-hours a day, but that you have their success on your mind at all times. Evaluating your employees once a year is a one of those ideas that you really, really have to question. Normally an annual evaluation turns out to be the evaluation of only the last two weeks of an employee's work history. All employees, if they are human beings, need feedback to make sure they are living up their boss’s expectations. With only a yearly evaluation, frustration sets in quickly. I take each staff member out for a meal once a month. During that time, I try to find out how they are doing and to identify their needs. I also communicate how I feel they are doing in a clear and concise manner. Taking them out of the office really tells them that I want to be there to mentor them to be more and more successful. If you find the time to spend a few moments with each employee, you will be surprised what you might find out about your employees and how this individual time with them motivates them to succeed and promotes loyalty within the workplace.
Positive reinforcement is critical to being a great manager. So many times you hear staff members say that the manager only notices when I screw up and never notices when they do great things! Pay attention to great behavior and always recognize it whenever you see it. On a recent tour of a business I observed the owner who spotted one employee doing some great things. The entrepreneur stopped the tour to tell the employee what a great job he was doing. Recognizing great employee behaviors is a sure way to communicate to your staff how pleased you are with their performance.
Managing employees takes so much work and effort. However, it is so worthwhile because it makes your staff feel so much better about their work. Now go out and improve the ways you manage your staff.
You can do this!
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