Create a Culture of Collaboration

A well-functioning company is a company in which different teams and team members all easily collaborate with one another. And when that kind of successful teamwork happens, it can look so easy and organic, one might even assume that things just fell into place naturally, with no effort. But while good collaboration looks effortless, often it only comes about through multiple efforts on multiple levels. As a business owner or manager, you need to acquire the leadership skills that will allow you to facilitate that kind of teamwork. Here are some guidelines for how to master these skills and get your company running like a well-oiled machine.

The importance of collaboration.

If everyone in your company is only ever assigned to work within their own department, on their own project, they may become extremely adept at detailed work within their own professional silo but may be missing out on the opportunities that arise when teams cross over departmental borders and communicate about different projects.  And this means your company is missing out, too, because creative crossover and exchange are necessary for your company to maintain a cohesive identity. Additionally, the added energy that comes from heightened collaboration can propel company growth. Without collaboration, team members may develop unhealthy workplace attitudes, too, including suspicion, resource-hoarding, and interdepartmental tensions. Share on X

Start with the right people.

Part of getting your teams to work well together means choosing the right team members. So, when hiring, don’t just look at skill level and experience. Some novice professionals may be better than seasoned experts when it comes to working well with others. So don’t just look at a resume. Also, ask for references from former managers as well as colleagues, so you can get a sense of a candidate’s communication and collaboration skills. Also, remember not to confuse surface-level social charm with the actual ability to collaborate on a group project.

Create opportunities for collaboration.

Employees may not be aware that you are encouraging more collaboration if you don’t open avenues for them to do so. Encourage consultation between different teams and let different team members take turns leading meetings and discussion sessions. It can be a good idea to mix things up a little, by encouraging employees to switch up teams and projects – but be wary about doing this to a point that induces stress or burnout. An important way to encourage collaboration is to create spaces, both real and virtual, where all team members across departments interact, express concerns, ask questions, and develop good connections.

Foster a culture of communication and trust.

This is an area where you as a leader need to model the kind of culture you want to see in your workplace. You can’t cultivate communication and trust if you come off as suspicious, distrustful, unwilling to listen, and taking everything too personally. And you definitely should not be engaging in or tolerating toxic workplace behaviors like bullying or harassment. Instead, take time to get to know team members, listen when they have concerns, and be firm when it comes to not tolerating bad behavior. Be respectful to your team members, be authentic, and never ever violate anyone’s trust.

Invest in the right tools.

Encouraging collaboration is a lot easier when you make available the tools that facilitate it, such as templates, apps, and software that allow for better communication and information sharing. Employees will appreciate access to such tools, too, because it’s so much easier to work well on a project when you understand its place in the bigger picture. For instance, if your company is working on a new product, it’s helpful to create a product roadmap template so every team member can see where their task fits into the overall project of production and launch.

Remember that teamwork can’t be forced, but it can be modeled and encouraged. Do your part as an owner and manager to create the kind of workplace culture where collaboration happens, and this will pay off for all parties involved. Leaders in the food and beverage industry interested in fostering greater collaboration among team members may be interested in the coaching and mentoring programs offered by New Century Dynamics.

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Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

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Before You Start a Business, Consider This!

So, you want to own a business.  You have an idea for a product or service that the market needs. You want to be rich.  You have studied other successful startups and understand the factors for success.  You have moved past friends and family who have tried to dissuade you from your goal.  You have the funds and a plan to get your business off the ground. You are confident of success.  But have you considered everything you need to know?

Many successful entrepreneurs begin by forming a Board of Directors.     An Advisory Board will provide a broader perspective, improving the effectiveness of your decisions.   The advice you receive will minimize costly mistakes which could otherwise doom your business. Board members may receive a stipend, or they may be volunteers. Voluntary advisory boards have become commonplace for many startups. Talking with organizations like Score and finding a mentor are additional resources to consider.

Find Low-Cost Ways to Advertise

Now Hear This!

Getting the word out about your business doesn’t need to cost much money. Begin by establishing an online presence. Potential customers will want to visit your website.  Be proactive.  Provide answers to common questions, making it easier to convert their interest into sales.  If you have not done so already, create social media channels for your brand. Facebook and Twitter are popular places to start. Depending on the demographics of your target market, you may want to try others, too. If you are targeting older individuals, a direct mail campaign could be the most cost-effective solution.

Consider Running a Special

 To increase the probability of generating a sale, offer a special one-time deal, like a two-for-one promotion or a gift. You might do the same for current customers who refer friends or family members. When someone purchases your product or services, please give them a reason to continue trading with you.  Consider offering discounts for future purchases. These sales tactics can kickstart your business and give you the financial boost you seek.

Determine Which Functions to Outsource

 Savvy entrepreneurs know that managing labor is a critical component for success.  They live by the principle of “do what you do best and let others do the rest.”  We are fortunate to live in a time when we can contract relatively inexpensive outside resources.  To ensure accuracy and minimize risk, outsourcing financial management and payroll is advisable. Outsourcing recovers time to focus on more urgent tasks. Using an automatic payroll solution provides other benefits, like automatic calculations and paying taxes. Payroll apps are  available for both iOS and Android. Taking on too much responsibility can lead to burnout and costly mistakes. Think about outsourcing to reduce stress and improve your productivity.

 

 Improve Your Business Acumen

 As your business grows, your focus will shift to your management and leadership skills. Taking college-level business courses or earning an MBA could be a difference-maker. Unlike a traditional college experience, online degree programs make it easier to maintain your business while you learn.  Continually update your skills to ensure long-term success.

Adjust Your Business Plan as Needed

Although business plans look good on paper, actual results seldom unfold as envisioned. You must monitor your results consistently and adjust accordingly. Share on X Be flexible and willing to take steps to keep your company on track.

Financial setbacks can happen to anyone.  They can be incredibly distracting when you are trying to establish a new business. You may feel discouraged and lose confidence in yourself. Well-meaning family and friends may pressure you to get a traditional job and forgo your dreams altogether.  Don’t let setbacks discourage you from pursuing your dreams of entrepreneurship.  Expect to suffer difficult situations.  Build contingencies into your plan to weather challenging times.

New Century Dynamics provides excellent executive search and management consulting to the service industry. To learn how New Century Dynamics can help your business, contact James E. Weber at JimWeber@newcenturydynamics.com.

Derek Goodman

derek.goodman@inbizability.com

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Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

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Good Management Habits for Ongoing Business Success

As a small business owner, you are constantly alert for new ways to grow and improve your company. You know that your business success depends on your ability to plan well and wisely and stave off potential problems. So, what are the guiding principles you should follow to maintain optimal performance? In this article, Jim Weber, Managing Partner of ITB Partners, reveals how successful entrepreneurs stay ahead of the game.

Be a planner.

Goal Setting

Good business management is a continual cycle of planning. Before you even launched your company, you had to draw up a comprehensive business plan. And planning needs to be ongoing. Even if it feels as though your company can run on autopilot, it does not mean that you discard sound management practices. Your management system should include periodic financial forecasts with appropriate adjustments to remedy deficits to the plan. As Zenbusiness explains, failing to have a good plan in place is a common mistake that small businesses frequently encounter. So, avoid this pitfall by having everything organized and mapped out.

Be a Leader.

Your leadership skills may be the most critical part of successful management. No matter how great your vision, no matter how positive your workplace culture is, it is not possible for a company to thrive in the long term if it lacks clarity, discipline, and recognition. Poor leadership tends to trickle down from management into every part of a business, with devastating effects. You can maintain a high level of performance by using business technologies that help you schedule tasks, manage projects, keep track of inventory, communicate with team members, and recognize desired behavior.

Be a listener.

Have you ever had the experience of dealing with someone who didn’t seem to be listening when you spoke with them? Or someone who never seemed to embrace your message? If so, you know how frustrating this can be, whether in business or your personal life. Don’t be that person: make a point of listening to what your partners, advisors, clients, and team members have to say. Practice active listening, addressing their questions or observations directly. Active listening fosters a culture of creativity and responsibility.  Make a sincere effort to hear, respect, and understand your team’s concerns.

Be flexible.

The logical progression for a leader is the willingness to change when necessary. Share on X Change can be difficult when you are committed to a belief system or a particular course of action.   And no, you shouldn’t deviate from your plan for just any minor issue. When it becomes clear that your goals are at risk, altering your plans is good management. Remember, good leadership means owning and correcting your mistakes.

Be current.

Good management also means staying abreast of current trends in finance, marketing, and technology.  Business intelligence must be a team effort.  As professionals, each of your department heads should be current in their field.  They should share their learning, and you should update the company’s plans accordingly.  As their leader, you must ensure that your team has access to high-quality information and resources to perform at peak capacity.

Be a good Corporate Citizen.

Failure to follow the laws and regulations that govern business activity can be costly.  As a leader, you must work within the framework of employment law, permitting, licensing, taxation, among others, to ensure the success of your business.  One area where new business owners risk expensive fines and penalties is in payroll tax compliance.  Minimize this risk by using a sound payroll system with competent oversight. It’s also essential to choose the proper legal structure for your business. For many small business owners, a limited liability company makes the most sense, as it reduces paperwork and may yield tax savings. Save time and avoid added expenses by having an online service register your company as an LLC.  Your lawyer and accountant can guide you in this area.

Think of good business practices as pillars supporting your business.  Make sure your whole company understands and embraces these principles. By doing so, you will improve the likelihood of continued success and increased profitability.

Derek Goodman

derek.goodman@inbizability.com

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Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

I hope you enjoyed our point of view and would like to receive regular posts directly to your email inbox.  Toward this end, put your contact information on my mailing list.

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