Tag: New Century Dynamics Executive Search

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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

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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.

 

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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

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.

 

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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

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.

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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.

 

 

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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.

 

 

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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.

Image via Pixabay

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.

 

 

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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.

 

 

 

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We Fired Our Cleaning Service!

It is not easy to land a new customer. And it takes work to maintain a relationship over time. That is why customer retention is so vital for business continuity.  Given that, it is understandable that I was so baffled by this week’s events. We fired our maid service Thursday. Well, they fired themselves.

Thursday night, my wife began receiving text messages from the maid service owner. Her texts included photos and videos of our home’s interior. She demanded that we pay an additional $45.00, 33% of our regular fee, because they cleaned up a construction area. What incredible hubris. It was a strange situation. Our regular maid had a doctor’s appointment, so they sent a replacement who was unfamiliar with our home. She took the videos while she was working. I have zero tolerance for that kind of behavior from a vendor. Someone taking a video inside our home while conducting a service, in my mind, is grounds for immediate termination. Not only is that an invasion of privacy, but it is also a significant security issue. However, my wife is a bit more polite than I am. She let the vendor make her case.

However, the result was the same as my wife decided to terminate our relationship. The entire conversation and ultimate termination were made entirely by text messaging. Not an ideal situation. Unless the vendor intended to cancel our service, for whatever reason, this should’ve been a voice conversation. Resolving differences via text is seldom a good idea.

Two significant projects are in process on our home, but they had a minor, if any, impact on the maid’s workload. First, we are remodeling our master bathroom. We completed the demo work in that area over three weeks ago. The next phase of that project will begin shortly. The maid did not have to clean that area, nor was it a contributing factor to any additional work. She was not cleaning a construction area.

Secondly, we are refinishing our basement, turning that area into a very spacious apartment. That area is not a part of our cleaning contract. Admittedly, that project kicked up a bit of dust this week as we had to cut concrete to prepare the plumbing for the bathroom. Before the maid arrived, we dusted the house and used the Swifter system on the floors on the main level. The cleaning job was the same as any other visit.

Small businesses are having difficulty with staffing issues that may or may not be related to Covid–19. I get it. Last month we had another service clean our windows, inside and out. The owner of that company did the work himself. He told me that nobody wants to work. Even so, he was pleasant and did a good job. I told him that we would use him again. He certainly did not try to gouge me because our home is an alleged construction site. The issue with our maid service was a different story.

The vendor intended to extract additional funds from us as she believed that our home was involved in extensive renovations. She had asked what we were doing before the maid arrived. My wife explained the situation, and we thought that was the end of the discussion. Then the text messaging began Thursday evening. Whatever trust we had with this vendor was destroyed in a few short minutes. Friday morning, we received another text from the vendor. She apologized for doubting our situation and asked that we continue using her service. My wife decided not to respond immediately. She wanted to sleep on it.

I view the vendor’s behavior as a case study in poor account management. If she had legitimate concerns that our expectations were beyond the scope of the agreement, she should have requested a meeting in our home. She would have gained first-hand information about the situation. We would welcome that approach. But that is not the way she proceeded, far from it.

Customers, particularly long-standing customers, are an asset to be protected. You don’t want to lose one needlessly. If you have a dispute or a disagreement, ensure that you work towards a resolution thoughtfully and professionally. This situation was not a big deal in the grand scheme of things, but we will remember it.

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.

 

 

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Leverage Your Time and Grow Your Business

Over the holidays, I was able to catch up with my friend and colleague, Stan. He often calls me when he is on a road trip. This time, he was traveling through Kentucky to work with a client in northeastern Ohio. As with most of our conversations, this was wide-ranging, including personal and business-related topics. We talked a little about Covid-19, politics, scotch, and cigars, and of course, Football. When we talk Football, it’s NCAA Football in general and the SEC.

Eventually, the conversation turned to our respective businesses, which occupied the remainder of our time. Stan’s business is booming! He is unique among Independent Consultants as he doesn’t suffer the feast or famine cycle. He has a strong network that feeds him new business regularly. That is the good news. The bad news is that he would like to retire. The revenue has been exceptional, however. So good that it has crowded out any recent consideration of retirement. But now, the workload is starting to take its toll. Also, he has other interests he wants to pursue. So, we chatted about him getting serious about making a transition toward retirement.

I asked him if he’d ever thought about taking on a protégé or two. It wasn’t the first time I raised that issue with Stan. He’s never been too keen on the idea, however. He believes that his network refers business to him because they know his capabilities and the quality of work he delivers. I agree with him in that assessment as far as it goes. But I seriously doubt that anyone expects Stan to do all the work himself. I told him that I believe he is laboring under the mistaken belief that his referring agents expect him to do all the required work himself. I am not buying it! Although the client expects results, they are not so concerned about how he achieves those results, assuming there is minimal disruption to their daily routine. Share on X I would wager that if Stan asked his network, they would agree with my assessment.

Leverage Your Consulting Projects

    • Employ Subcontractors
    • Train Subcontractors to become protégées
    • Offload lower value-added work assignments
    • Provide quality control and oversight
    • Expand the business while working the same hours or less

The apparent solution to Stan’s dilemma is to find subcontractors to perform the work under his direction. Employing subcontractors would give him more free time. Early on, Stan may be required to train these folks to complete the job to his expectations. However, once trained, Stan can work with the subcontractor to plan the scope of work, then let them execute the plan. Of course, Stan would provide oversight and direction.   He would be the account manager, providing supervision and quality control.

Another way to approach winding down would be to divide the workload between high and lower value-added activities. Stan could assign the lower value-added activities to a subcontractor or protégée while taking on the more significant value-added workload. Again, he would free up his time while developing a resource to aid him in his transition.

Most independent consultants would be delighted to have Stan‘s problem. Instead, many fight the feast or famine cycle, trying to smooth out the peaks and valleys while growing their business. Often, these folks are not marketing themselves at the most basic level. However, they can still benefit by developing protégés or subcontractors to help them leverage their time during the cycle’s peaks. Better yet, they should consider marketing their services to someone like Stan, who needs help. They should consider growing their business by seeking work as a subcontractor.

Summary and Conclusion

The fundamental question Stan must resolve is, does he want to retire and close his business entirely, or does he want something that continues to generate income throughout his retirement? Then he must determine how to transition from one state to the next. Stan has an enviable position. He can afford to close his business and live comfortably. On the other hand, if Stan could maintain the business with minimal effort, there would be an additional source of cash flow to enhance his balance sheet. Furthermore, he would have an asset to sell or leave to his heirs. Stan has some exciting prospects to consider.

For more reading on growing your independent consulting business, check out these links.

https://www.mbopartners.com/blog/how-grow-small-business/how-to-grow-your-independent-business/

https://www.mbopartners.com/blog/how-grow-small-business/how-to-grow-your-independent-consulting-practice/

https://www.mbopartners.com/blog/how-grow-small-business/how-to-stay-competitive-as-an-independent-contractor/

Thank you for visiting our blog.

 

Jim Weber, Managing Partner – ITB Partners

Jim Weber – Managing Partner,  ITB Partners

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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.

 

 

 

Posted on

New Century Dynamics Lands Search for a Director of Marketing and E-Commerce DTC Meal Delivery Brand

Jim Weber lands New Search Assignment: “Director of Marketing & E-Commerce” VC-Backed, DTC Home Meal Replacement Brand.

We are seeking a Director of Marketing & E-Commerce – to manage in a hands-on manner all advertising channels including Facebook, Google Ads, Snapchat, Affiliate, email, organic, referrals, and others.  Emphasis will be on the paid channels, but the right candidate should be strong in all forms of media in order to pitch in as opportunities present themselves.

Director of Marketing & E-Commerce

 For more information, click on the link immediately below.

Director of Marketing & E-Commerce – New Century Dynamics Executive Search

 I would be happy to discuss this opportunity with you.  Shall we schedule a call to share information?  Here’s my calendar link to make finding time easy. 

https://calendly.com/jimweber

Best.  Jim Weber

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.