Stop Procrastinating and Accomplish More!

I put this article off for too long! No kidding! Procrastination is not one of my worst habits, but I am prone to succumb to it from time to time.

Why write about the subject now? Maybe because it is time to file our state and federal taxes. It is on my mind because people I know waited until the filing deadline to complete their taxes. I am confident they are not alone. I have known many who were last-minute tax filers. Fortunately, that is not an issue for me as I have an accountant who does our personal and business taxes. He has complete access to my QuickBooks Online account, which is always current. I have almost eliminated my tax preparation requirements. Procrastination is no longer necessary.

I have never been much of a procrastinator. I am a planner by nature and by training. I try to be proactive. The thought of putting myself through the stress and anxiety of meeting a deadline at the last minute is too painful to bear. That does not mean that I don’t procrastinate from time to time. Sometimes, I procrastinate to avoid irritating or mundane tasks. Getting my annual automobile inspection is a good example. While in college, I did not engage in last-minute, pre-exam cram sessions. Instead, I believed that I would perform better with a good night’s sleep. It was the same during my corporate career. I made a point to complete my assignments early, especially if they involved a presentation. I used the extra time to hone my subject matter knowledge and focus on the presentation. I never wanted to present work that was less than my best effort.

To some extent, everyone engages in procrastination. I have known many who wait until the last minute to complete assignments. I spend much of my time coaching my clients to overcome procrastination. Watching them race through the process of completing an important task at the last minute is painful. Helping them defeat the urge to procrastinate improves their performance, moving them closer to their goals. Share on X

Ways to Approach and Correct Procrastination

Do not punish yourself for procrastinating
Commit to completing the task
Promise yourself a reward upon completion
Find someone to hold you accountable
Change your attitude toward the task
Focus on the issue
Eat an elephant, one bite at a time

To minimize procrastination, I’ve adopted a few helpful habits that may interest you. My most powerful technique is to put the task right in front of me to be in my way. I create a situation where I cannot get around the job, so I must dispatch it. A good example is putting my dry-cleaning in the passenger seat of my car. Once that is done, I cannot ignore it. I must take it to the cleaners and retrieve my clean laundry. I know that is a small, inconsequential example. Even so, the concept works with more essential matters.

No one likes paying bills, but the avoidance cost is steep. We must pay them eventually. To get this task behind me, I will put a stack of bills in the center of my desk. They are right there in front of me, screaming for attention. Furthermore, I have adopted electronic bill pay methods, including the authorization for automatic withdrawals. Now, I have one less activity to avoid.

To continue making progress in a health-related area, I set concrete milestones and plan rewards for goal attainment. For example, I will plan to purchase an article of clothing as I achieve specific points in a weight loss program. Creating a reward keeps me motivated to stay on track to achieve my objective. I find it helpful to start with a plan that segments the overall scope of larger projects into smaller components. Completing small activities generates momentum that leads to successful completion.

In conclusion, procrastination is a bad habit that inhibits your productivity and goal achievement. It is a common affliction. It is natural to avoid complex, tedious, unpleasant, aversive, and stressful tasks. Instead, we prefer to engage in the fun stuff! To defeat procrastination, consider changing your attitude toward the job. Make it a priority you cannot avoid. Break larger projects into smaller parts to be tackled sequentially. Reward yourself for completing a dreaded task. Finally, you might look for ways to eliminate routine tasks through automation. Begin practicing some of these tips, and let me know if they work for you

For more information about procrastination and how to overcome your avoidance issues, you may find it helpful to check out these links.

https://www.businessinsider.com/main-types-of-procrastinators-how-to-avoid-accountability-coaches

https://www.washingtonpost.com/lifestyle/wellness/procrastinate-why-stop-advice/2021/07/09/13b7dc2c-e00e-11eb-9f54-7eee10b5fcd2_story.html

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.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

First, Build Trust!

Building Relationships

Recently I had the unfortunate experience of watching a client suffer through the effects of failed relationships with two of his vendors.  It was painful to watch, but it cost my client far more.  The impact of these failures was delayed project completion, an additional cost of labor and materials, and an erosion of trust with his customers.  The most painful realization was that these situations were self-inflicted wounds, easily preventable if my client had followed the proper procedures.

The fundamental issue was that my client failed to properly qualify either vendor to ensure that they could deliver on their promises.  I remember Ronald Reagan’s motto during his presidency; trust but verify.  In this case, my client invested his trust without verification.  Regrettably, the results were predictable.  These vendors were not competent to do the work my client required of them, and one was impossible to work with, continually trying to rewrite the terms of the agreement.

The long lead time for materials resulting from the Covid pandemic created a difficult situation for my client.  As a result, he looked for an alternate solution using a local vendor.  He found someone and immediately gave him four significant projects.  Admittedly, this vendor had good references, and his finished product was acceptable.  As an executive recruiter, I understand the limitations of a reference check.  Extracting useful information from them takes a certain degree of skill.  Unfortunately, I was not a part of the vetting process.  The result was unfortunate.  Although the vendor was a good craftsman, he was not a good businessman.  He could not determine appropriate priorities for his work.  He had little regard for his customer.  He did not finish the required onsite work and held my client hostage for payment he did not earn.  My client should not have trusted this vendor with the scope of work needed.  Likely, he will soon be an employee working for someone else.

The other subcontractor had done good work for my client on many routine projects.  However, he professed to be competent in one area my client had not witnessed.  That turned out to be a big mistake.  This vendor hired an incompetent subcontractor who made a mess of the project.  My client was required to find another subcontractor to demo the original work and start the project over.  We later learned that the subcontractor had hired a relative to complete his job.  My client refused to pay him for the shoddy work.  Even so, the vendor continued to demand payment for his work.  My client could not finish his work on time, which strained his relationship with the customer.

Both situations created significant angst for my client.   He gave his vendors his complete trust without adequately vetting their capabilities.  I explained how he could have used me to check the references on one vendor and how we might have further vetted the competency of the other.  My client was operating in blind faith.  That is not my preferred way to conduct business.

I use a well-defined process to build trust.  I begin by giving someone small projects to evaluate their competency.  If the first project is successful, I gradually increase the scope and complexity of further tasks assigned to that person.  The last thing I would ever do is give a significant assignment to an unproven person.  This process works for almost any relationship.

I believe that respect is given, but trust is earned.   Everyone deserves respect; it’s just a good practice among human beings.  However, one must earn trust.  It is a precious commodity to be carefully guarded.  Gaining someone’s trust requires an investment in time.  You know what you have to do to gain the confidence of your clients, customers, friends, and especially your spouse. We must be vigilant to guard against situations that put our relationships at risk. That includes developing confidence in the capabilities of our employees and vendors to help us serve our customers. Share on X

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

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Network Your Way to Business Success

 

If you’re an aspiring entrepreneur, growth is a key factor in your business start-up’s success. Networking is a great way to immerse yourself in the world of business and can help you develop a base following from which to grow. ITB Business Partners – Management Consultants can be a valuable resource when it comes to providing high value-added solutions to your most pressing challenges.

What Is Networking?

Networking is basically an opportunity to connect with other people as a way to establish or advance relationships, identify potential areas for collaboration, and meet prospective clients and customers. Networking is a term used to describe everything from attending business functions to how you follow up with people you’ve been connected with or introduced to through others. As the term implies, your goal with networking is to build alliances, meet new people who can help you advance your business, and amplify your connections. It requires a sincere approach, so if you’re a hard-sell personality, you might need to temper yourself during in-person networking situations.

Why is Networking Important

While there are certainly many ways you can go about marketing and advertising your business, developing relationships, requires a more personal one-on-one touch leading to more robust business relationships. For example, if you’re in a networking event and meet somebody who provides printing services, which you need, you’re more likely to feel comfortable with someone you’ve met and spoken to than somebody you’re found online. These personal connections can be long-lasting and profitable. Your goal should be to establish mutually beneficial alliances. Once trust is established, the relationship can grow and business opportunities will follow.

Where to Network

So where are the best places to network? According to Copper Chronicles, there are a surprising number of places to network once you’re in a networking frame of mind. You can connect via online or in-person business functions offered by small business development centers, chambers of commerce, and Rotary clubs. You can also attend conferences, trade shows, and business networking events specifically designed to connect business leaders. You can also network at volunteer events, particularly those that are associated with your line of work or your Industry. Virtual networking is important too, – you can start with LinkedIn and your social media platforms. Don’t forget non-traditional yet effective methods – talk to other parents at kids’ sporting events, go to charitable events and fundraisers, join your local PTO, and if you belong to a house of worship, serve on a committee and arrive before service for coffee and connecting.

Preparing to Network

Before you start seriously networking, make sure your business is well-positioned. This means having a website, social media presence, and a business card that has your business name, your name, your website, contact information, and potentially on the back, a few bullets, or a brief overview of the products and services your company provides. To make a memorable impression, consider looking for a way to design your own business cards. Using a premade template for your cards allows you to customize your work by adding images, text color, and the fonts of your choice. Make sure your card matches your company brand so you make a notable impact.

Maintaining Networks

In addition to building networks, maintaining them is also important from a customer relationship management perspective. Don’t consider the people you’re connecting with as just “leads,” but rather, as people you can learn from and build a foundation with. In other words, develop a relationship in which you stay in touch, get coffee or lunch, offer support where you can in the form of referrals, and take an actual interest in them and their business. Establishing trust and learning about one another’s business goals can aid in finding ways to collaborate. According to Business News Daily, giving more than you ask for is another great way to establish solid connections.

While there’s nothing new about the concept of networking, digital marketing has allowed us to connect in a number of different ways, some of which will require different approaches. Be strategic in your approach to ensure you’re getting connected to the people most likely to help you build and grow your business. Share on X

ITB Business Partners – Management Consultants help business managers solve their problems by matching them with high-quality independent management consultants who are experienced leaders, discipline experts, and project managers. Visit the site to learn more, sign up for the company newsletter, and reach out directly for more information.

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

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Photo By Pixabay

Make Your Complaint Count!

ITB Partners Members Meeting

Recently my wife and I were in a big box flooring store buying tile for upgrades we are making on our home.  As with many retail establishments trying to get back in business after the pandemic, this retailer had its challenges.  They were short-staffed, so it took longer to complete the full sales cycle.  I never saw a manager in the store that evening.  While I was waiting to talk with a salesperson, another customer began complaining to an employee.  The employee was assembling his order.  His issue was about the time it took to have a salesperson help with his order and then to have the selection pulled.  He wasn’t quiet about it either.  He became somewhat animated.  I sympathized with him; however, I noted that his approach was unproductive as he complained to the wrong person.  He directed his anger at an employee equally frustrated by the situation.  He might have been more effective if he had found a manager to express his thoughts.  Or maybe even a letter to the company CEO.  But railing at a non-management employee?  Hardly a wise decision.

Complain to the right person about the correct issue.

Whenever I observe or hear of someone getting ugly with someone trying to help them, I remember a story I heard early in my career.  I don’t know if it’s true; however, the message is instructive.  The story tells about someone trying to get an airline flight home after a difficult week.  Thunderstorms in the area created a challenge for the airlines.  As it took longer for the ticket agent to find a suitable flight, this passenger became more agitated.  He berated the ticket agent, complaining about her employer’s poor customer service, and suggested that she was incompetent.  Ultimately this gentleman got his ticket and boarded his flight.  However, he landed in Peoria, not his destination, and his luggage arrived in Timbuktu.  As I said, I don’t know if the story is true, but from my experience, it certainly could’ve been.  It was likely a punchline to a comedian’s joke, however prescient.  The moral of the story is never making an enemy of someone trying to help you.

Please don’t misunderstand; there is a time and place for customers to express their displeasure with their service.  Hearing customer feedback is critical to help companies improve their operations and become more competitive.  However, one must deliver input to someone who can make a difference.  Make a meaningful contribution by offering your complaint to customer service representatives, a manager, or someone responsible for the customer's experience. Share on X Otherwise, you have wasted your time and that of your target.

Successful employees quickly learn that a large part of their job is to solve problems.  They are successful because they present solutions that resolve negative situations.  Employing this strategy ensures further career success.  Most corporate types have heard their superiors say, “bring me solutions, not problems.” I have witnessed the benefits of following this career-development strategy.  My career was launched and maintained by finding solutions to problems that were hurting my company’s effectiveness.  I know of many people who have had success following this principle.

Let’s return to my experience at the flooring store.  The picker noticed my cooperation during this situation and pointed that out to the complaining customer.  I nodded in agreement that it was not his fault as he was also a victim of their staffing shortage.  I can tell you; he bent over backward to help me when it was my turn to be served.

If you have an issue with a vendor, find someone to help you resolve your issue.  Make sure that person understands how their service failed to meet your expectations.  But don’t stop there.  Send a letter to a more senior manager with a summary of the incident.  A written note is especially relevant to recognize a satisfactory resolution.  Doing so is an opportunity to generate goodwill by recognizing the person who helped you experience a positive result.  Don’t waste time complaining to someone who cannot resolve the situation.  Seek out someone who can.

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.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

Starting Over: Building a Business After the Pandemic

As the United States emerges from the COVID-19 pandemic, many people are deciding it is time to chase their dreams and work on starting their own business. According to research, this happened many times during state shutdowns. If this is your first time venturing into entrepreneurial aspirations, learn about what you can do to get started on the right foot with this guide from ITB Partners.

Finding a Business Idea That Works

Before doing anything else, it is crucial to find a business idea that works. It doesn’t necessarily have to be complicated. Consider your experience, skills, and education, and what you would like to do.

Perhaps you already have skills as a hairdresser and want to work for yourself. Maybe you have lots of experience with animals and would like to begin a dog walking and boarding business. There are plenty of business possibilities to help you get started.

Setting Up and Making It Legal

Once you decide what your business will involve, decide on a name for your company and begin the process of setting it up. You may choose to make it a sole proprietorship, an S-corporation, or a limited liability company.

If you choose an LLC, know that there are many benefits associated with this, such as limited liability, less paperwork, certain flexibility, and even advantages when it comes to taxes. Depending on the state you live in, there are different regulations when it comes to setting up an LLC, so make sure you research those first. If you want to outsource the paperwork and avoid dealing with an attorney, you can use a formation service to help you.

Networking and Meeting Other Professionals

No matter what stage your business is in, make it a priority to network with others. Share on X This will help you find your new clients, introduce you to professionals to help build your business, and make it easier to get referrals and reach out via word of mouth.

Look for events such as Network After Work. You should also start talking to people you know, even if the last time you were in touch was high school or college. There are plenty of online tools that can help you find contact information so you can reconnect again, allowing you to build your circle.

Creating a Marketing Plan for Your Company

All businesses need a marketing plan. Start putting together ideas of how you want to reach your client base. This can include using social media, direct mail marketing, having a website, going to trade shows, and using promotional materials, to name a few.

If you plan on adding images to your company’s marketing materials or you are working on an image with a graphic designer, you may find it easier to compress JPG files so you can email them with ease. However, compression can sometimes degrade the way the JPG file looks. To combat this, use a JPG-to-PDF converter, which can allow you to make your JPGs into PDFs while keeping the same quality. You can even do this with more than one file at once.

Creating Space and Enlisting Services

In getting your startup off the ground, you want to ensure that you’ve got a designated space at home where you can work. If you go as far as upgrading an unused room to a home office, you may even improve your home’s value. Just make sure that you’ve got the privacy and resources you need.

You’ll also want to set up a great website for your business and see to it that your cyber security is looked after. Online threats are growing ever more numerous and widespread, and they can threaten both your business and your customers’ information. Make sure you are all protected with a comprehensive plan.

Getting Support From a Mentor

Running a business can be hard. Rather than try to go through it alone, get help and support from a mentor. Business mentors can give you ideas on what problems you might run into and provide advice when you aren’t sure what is best for your company.

No matter what your reasons are for starting a business, it is possible to get the support and guidelines necessary for success, as long as you take everything step by step.

This article is brought to you by ITB Partners, a consortium of independent management consultants providing high value-added solutions to your problems. Our consultants are experienced leaders, discipline experts, and project managers. Our industry expertise ranges from consumer packaged goods and manufacturing to supply/chain,  logistics, and the service sector.   Additionally, we have depth in consumer services franchising, specifically restaurant, hospitality, retail. For more information, please contact us today!

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.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

Ten Common Career Mistakes to Avoid

Executive Career Consultant, Richard Kirby discusses Ten Common Career Mistakes to avoid. This presentation was delivered to the Atlanta Chapter of Great Careers/The BENG on February 8. For more information about Richard Kirby, visit his website at www.richardkirby.net

 

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.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

 

The Top HR Trends for 2022

If we learned anything from the last two years, it is that we need to adapt to how and where we work. We learned that the world is becoming increasingly more home-centered as work becomes a virtual instead of a physical environment.

As Dr. John Cascone, Sr Vice President at Flex HR notes, “The devastating effects of the pandemic have reawakened the interest in monitoring environmental influences,” and reminds leaders to plan “to adapt quickly to moderate the impact of the crisis on the organization and its employees.”

So, with this new adaptability, here are our Flex HR top HR trends predictions for 2022:

1. An Increase in ‘Employee Wellbeing’ Benefits

As we saw in 2021, there is an increasing awareness of the importance of employee well-being, including their physical and emotional health. This now includes employees’ families, and issues like health insurance and time off for employees to care for sick family members are highly valued.

One study found that 62% of employees value benefits related to well-being and are more likely to take jobs that offer those.

The Future of the Industry Report 2021 also revealed that 87% of employees want employers to value mental health.

As Jessica Stafford, Payroll Tax & Compliance Consultant at Flex HR notes, “Competitive businesses will continue to adopt unlimited paid time off policies in 2022,” which increases “productivity and morale” and presents “stronger financial statements and less work for HR and payroll departments.”

2. Hybrid Work Model Will Continue

The pandemic permanently shifted work to a hybrid model. Surveys reveal that 83% of employees want a hybrid option and 63% of growing companies have already shifted to meet this need.

Therefore, it is vital to have these hybrid and work-from-home policies in writing and in the employee handbook.

Dianne Hartness, HR Client Success Manager at Flex HR shares, “As more companies become distributed and do away with office space it is important to define culture and create connection by using digital tools.”

Some examples of collaborative tools include Slack, a communication tool that promises more productivity and a more in-sync team. Another tool is QuizBreaker, a game your team can play virtually.

3. More Use of Technology and Artificial Intelligence

As we noted at the end of 2021, the use of technology and artificial intelligence will continue to rise in the workplace. Businesses and employees have had to become proficient in using a plethora of tools to communicate, including ZoomWebExSlackStream Yard, and Microsoft Teams, StrivrImmerse, and BodySwaps.

The use of technology has become a top priority for companies as they seek to unify their workforces. Technologies including artificial intelligence, digital transactions, and e-commerce have changed business operations and will continue to do so.

Going forward, it is likely that AI will help HR teams make better decisions and will automate and streamline administrative tasks.

With the move to more cyber time, businesses must now increase cyber security to prevent phishing and malware.

4. Focus on Diversity, Equity & Inclusion and Other Values Matter to Employees

Another trend that is here to stay is DEI issues, which continue to matter to employees and companies alike. As many as 45% of HR professionals are planning to focus more on issues of diversity and inclusion in the coming year, as one study indicated.

Deirdre Huff, HR Client Success Manager at Flex HR, predicts that in the coming year “more employees and job seekers” will base “their decisions to accept employment offers off how well the company handles diversity, equity, and inclusion.”

In fact, Flex HR’s clients have been requesting DEI boot camps to help train their organizations in how to be more equitable and diversity-minded. Our consultants have already begun leading boot camps and informational seminars in the DEI space.

Dr. John Cascone predicts, “The trend toward promoting cultural diversity in all sectors of the organization will continue but coupled with the emphasis on diversity of ideas, values, work styles and ethics operating under clearly defined standards of accountability and outcome performance.”

One study revealed that 80% of employees choose their job based on aligned values, proving that employees want to work at companies that have similar values to their own.

Other values of importance to employees include childcare solutions and work-life balance. In fact, companies that value work-life balance will recruit and retain more employees as the millennial generation takes over the workforce.

Dr. John Cascone maintains that “Work-life balance will shape management practice to support worker accountability and productivity.”

5. Demand for Value and Development of New Skills

In 2022, there will continue to be a huge need for Human Resources expertise because HR is evolving into a much more expansive role.

One Harvard Business Review article predicted that there will be a need to train HR professionals in 21 new types of jobs in the near future. Because of these changes, HR professionals will need to acquire a wide range of skills for which companies are often not able to train them proficiently.

Businesses will need to outsource their HR to firms like Flex HR because of the complex HR challenges that they are facing.

6. Shifts in Recruiting Strategies, Especially to Internal

 With a push to develop new skills for HR and other employees, upskilling employees and shifting recruiting strategies have become essential.

Senior Vice President of Flex HR, Phil Davis, predicts “employers will continue to see higher than normal employee turnover and rapidly escalating wages” and emphasizes the “need for effective recruitment and retention programs.”

Similarly, Heather Summers, HR Client Success Manager at Flex HR, sees the need for companies to “up their game” in the recruitment department, by re-evaluating “their benefits to employees, insurance, offer sign-on bonuses or employee referral bonuses to attract talent.”

Companies that are “winning” at recruiting have realized the importance of training and hiring from within their organization.

As Dr. John Cascone predicts, “There will be a shift away from investing dollars in recruiting new employees to invest dollars in retaining and developing employees.”

Recruiters will need to be more strategic in their approach, finding creative methods for attracting quality candidates.

Different recruiting strategies will include looking for non-traditional talent from within the company, using social media and texting, making company websites look more personable and friendlier, offering higher wages and more time off, and many other strategies we noted in last year’s article on 10 Ideas for Better Recruiting to Attract More Candidates.

Upskilling and training have become essential alternatives to recruiting.

Flex HR’s Laura Ladd, HR Client Success Manager, reminds us, “Studies show that “future-oriented” organizations are making leadership psychology training and development programs mainstream. Such programs include learning about the human brain, how we think, how we analyze data, and how we make decisions.”

Going forward, Dr. John Cascone predicts, “The greater challenge for leaders will be to retain quality employees, not to recruit them Share on X.”

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.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

5 Start-up Mistakes To Avoid

Image via Pexels

Starting a  business can be a roller-coaster experience. Even the most seasoned entrepreneur has ups and downs when starting a new company. As a new business owner, your best strategy is to plan for mishaps while avoiding as many as possible.

There are many missteps you should watch for, but some are more common than others.

    1. Failure to use the Right Business Structure

You have several choices for registering your business. Some of the most common are:

      • Corporation
      • Limited liability company
      • Sole proprietorship
      • Partnership
      • S corporation

One of the simplest entities to set up is an LLC. It has various benefits for your company, such as flexibility, limited liability, tax advantages, and less paperwork than a corporation. If you decide an LLC is the best structure for you, check the rules in your state before moving ahead. States have different regulations regarding LLC formation. If you’d prefer to let someone else handle the upfront work, you can save on lawyer fees by using a formation service.

 

    1. Failure to Plan a Product Rollout

A new product rollout can be a risky venture. At the same time, it may be vital to your growth. With so much at stake, it’s worth taking time to get it right. You could face a launch flop if you rush the process along or fail to plot each step.

Try using an online product roadmap template to make your product unveiling a success. This tool can help you outline your strategy and the steps to create a product roadmap. It can also organize each team member’s assignments. A template simplifies the process. You can:

      • Assign priorities to tasks
      • Create themes
      • Set deadlines and goals
      • Understand customer pain points

 

    1. Failure to Lead

Not everyone realizes the number of executive decisions you make as an entrepreneur — even without employees. Your company’s fate often lies solely in your hands.

Assess your weaknesses and strengths. Determine if you have some of the essential leadership abilities:

Consider taking online courses or hiring a consultant from ITB Partners specializing in leadership development.

    1. Starting a Business With Family and Friends (Without Thinking It Through)

For some families and friends, going into business together works well. However, that’s not always the case.

Opening a “mom-and-pop shop” doesn’t have to be a recipe for failure. Before you do so, ask yourself a few tough questions, including:

      • Do you have compatible business values?
      • Do you have clearly defined roles?
      • How would it affect your relationship if your enterprise failed? According to statistics, about half of all new companies survive the first five years.
      • Are you capable of overriding your emotions when you need to make impactful decisions?

Finally, keep in mind that the market fluctuates. Along with it, your business may experience inconsistencies. These factors can change the dynamics of your working relationship as the balances of power or responsibility shift.

    1. Underestimating the Competition

Even if you have a unique offering, consumers have alternative solutions. They can choose another product or just buy nothing. Tips for getting their attention include:

      • Providing a customer-centric experience by making your business about them, not your product
      • Establishing your credibility by being transparent and following through on promises
      • Highlighting why your product is different than others or why your customer can’t do without it

If you can learn from your mistakes while avoiding the big ones, you can successfully get your company off the ground. Preparation combined with some training can be your best bet as you set off on your entrepreneurial adventure.

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.

Your feedback helps me continue to publish articles that you want to read.  Your input is very important to me so; please leave a comment.

 

 

Ten Leadership Lessons from Life at a Boys’ Ranch

Mike Perkins

Our world and our workplaces are filled with people from broken homes and dysfunctional families.  Research shows that over 60% of Americans grew up with some type of family dysfunction.  As employers, we can make a real difference in people’s lives- inside and outside the workplace. Employees need our help, guidance, teaching, encouragement, love, and support to be successful and to feel like they belong. If they get that, they are much more likely to stay with us, work hard, be loyal and make a difference.  Otherwise, they will just go through the motions, make minimal contributions, and always be looking for greener pastures.

I have been an employment attorney and HR professional for almost 30 years.  I thought I knew a lot about people from other walks of life.  But I was dead wrong.  I really didn’t know much about life for people with different upbringings and socio-economic backgrounds until I had the opportunity to live with them.  Literally.   In 2006, my wife and I took a professional sabbatical and worked for seven years at Big Oak Ranch in North Alabama.  Big Oak is a “Christian Home for Children Needing a Chance.” There, over 120 children live in homes with up to 8 children and a “Mom and Pop.”  Over those seven years, Kim and I served as house parents and primary caregivers for over a dozen boys from broken homes (abandonment, neglect, poverty, abuse, drug abuse, alcoholism, imprisonment, death).  During that time, we fed them, clothed them, helped educate them (in partnership with a great school), mentored them, disciplined them, cheered for them, laughed, and cried with them, attended proms, ballgames (hundreds!), school events, counseling sessions, medical appointments, hunting trips, vacations, provided driver training, and washed thousands of loads of dirty, stinky laundry.

In the process, we learned a LOT about life, love, and belonging.  Some of our kids responded well and have prospered.  Others have struggled with life outside the ranch. But we like to think they are all better off from having been at the boys’ ranch. I know that we are.

The lessons we learned and taught at the ranch translate well into the business world. Share on XMany of our employees come from the same type of environment as the children we helped raise.  And that lack of stability early in life has a lasting impact.  Here are a few lessons we learned that are worth sharing. Perhaps they can help you in your leadership journey.

    1. You don’t really know people until you get to know them- Everyone does not think like you do (in fact, very few do).  Don’t stereotype or prejudge. Go to them and seek to understand how they see the world.  You’ll be surprised at how differently people view things.  Each person’s unique history provides an inimitable life perspective.  Understanding a person’s background, values and worldview helps build bridges that will make you more effective as a leader and them as an employee.
    2. Rules without relationships are meaningless– Rule enforcement and management directives without relationships usually result in resentment. It is important to develop real relationships with the people you manage.  Otherwise, you will be in a constant battle to enforce workplace rules and it will be difficult to persuade employees to perform challenging tasks.  Relationship always trumps rules.
    3. Set boundaries and stick with them. How you start offsets the course for the future. Like cattle, it is human nature to look for the holes in the fences and test the boundaries. Employees want to know where the boundaries are.  Set the boundaries and close the gaps.  You can lighten up once trust is established.
    4. Teach them not to be a victim and a fingerpointer– It is easy to claim “victimhood” and blame shortcomings on the past and on others. Employees must understand that they control their own destiny and that they cannot allow the past to drag them down.  Encourage them to be chain breakers, victors, change-makers.  Direct them to community or company resources if they have difficulty overcoming past trauma or experiences. Don’t allow employees to make excuses based on the actions of others.  Help them stay focused on the things they can control.
    5. First Impressions are critical- People need to understand that, if they really want to succeed, they need to look and act the part. I am not talking about stereotypes, but a clean, positive look makes a huge difference to others and will often set the tone for their future interactions.  Sometimes, it is a matter of facial expression and good hygiene.  Manners also make a big difference- On BOTH sides!  “Hello,” “please,” “thank you,” and “you’re welcome” go a long way…
    6. When you break the rules, there are consequences– Everyone needs accountability. If we allow employees to “get away” with unacceptable performance, we hurt them, the organization, and their co-employees. Discipline should be considered a teaching process, not punishment.  Discipline should never be administered in a state of anger or passion.  The best discipline is calm, methodical, and delivered in a spirit of caring and concern.
    7. Everyone craves security- If they don’t get it from you, they will look elsewhere. At the ranch, we told the boys. “I love you; I will never lie to you; I will stick with you until you are grown and on your own; and there are rules, don’t break them.”  An employer’s version of this might be, “You are a valuable person, and we appreciate you and your work; we will never lie to you; we will stick with you during good times and bad, and there are rules, don’t break them.”  And then, do just that!
    8. Find strengths and develop them- Everyone has strengths and weaknesses. Our job as leaders is to develop our strengths and utilize them as effectively as possible.  At the same time, when employees have weaknesses, we should do everything within our power to minimize those through education, training, coaching, modifying assignments, and, where necessary, utilizing discipline.
    9. It doesn’t always work- Everyone is not coachable, and not everyone really wants to work. We owe it to them, their co-workers, and ourselves to help those employees find another career path.  Sometimes that means separation– and we shouldn’t prolong that when an employee is not working out.   Other employees may decide a particular job or company is not right for them.  Don’t slam the door on them.  Some will decide the “grass is not so green” and will want to come back.  While the grass may look greener, there is always dirt on the bottom.
    10. Love and a sense of belonging are more important than everything else. If employees feel that from their leaders, they will run through brick walls for them. Bricks hurt, so output goals will seem like a walk in the park.

Mike Perkins, President- Frontline HR Solutions

Mike is available to speak to your group/association and provides customized training for your frontline leaders.  Contact him at mperkins@frontlinehr.com

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Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

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Creating Extreme Wealth and a Joyful Life

Mark Grace leads a discussion on our YourTube Channel about “Creating Extreme Wealth and a Joyful Life”  by seeking more experiences in life.   He calls that “experidigm.”

Mark Grace leads the delivery of larger customer experiences that organize selling more products and services together. Much higher profits result and lead to more enhanced customer relationships and experiences. Examples of newly created and led multiproduct customer experiences:  Smart Grid in utilities, Alive Spaces in construction, Smooth Operations in Retail, Perfect Food in QSR eateries, and Visual Talking in media. Quickly build new divisions, ventures, or businesses and coordinate the eventual sale or corporate integration. Close major industry customer and partner deals while building a decisive protected competitive advantage. Over thirty years leading the development of larger customer experiences and successfully receiving higher profits.

Core Competencies

      • Add high-profit business lines on-increment or new
      • Innovation delivering successful products and businesses
      • A transition from offering products to selling multiproduct experiences
      • Sign profitable customers and continue to deliver for a generation
      • Dramatically improve efficiency and effectiveness of operations and processes

Drivers / Motivators

      • Customers want simplification, yet expect the entire experience
      • Customers expect smart tools to connect them, assist them, and do for them
      • Customers want to be delivered while they are experiencing and mobile
      • Business wants to become experience concierges and receive extra profit.
      • Technology tools enable real-time direct links between company and customer
      • Partnerships can build the necessary ecosystem and support infrastructure

Background

      • President –Beyondvia Technologies (beyondvia.com); Experidigm.com
      • Chief Innovation Officer – Construction Specialties
      • Global Program Executive – Smart Grid (GE Energy); Alive Spaces; Smooth Operations
      • Founder –  (Velocys); Perfect Food (Thinkage Founder); Visual Talking (Founder)
      • Director Technology/Operations – BOC Industrial Gases
      • Downstream Controller – Exxon USA
      • Specialty Chemical Sales – Petrolite Corp/Baker Hughes
      • Published 6 innovation books: MORE; NEXT; Soaring to Awesome, Choosing Up; Avoid Takers; and Elements of Visual Talking
      • Major Valuation Creation: Sold several companies; 17patents; 15 trademarks; intl awards
      • Washington University-St. Louis (MBA); St. Louis University (Chemistry); Rice (Writing)

Blog Posts:

Mark Grace awarded a patent on “how to design experiences

Starbucks Meets WeWork at the Automobile Service Center

Go! “I will…” Experidigm

THE NEXT BIG THING!

Contact

beyondviagrace@yahoo.com