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Slow down, relax and let business flow

Anyone running their own business, regardless of Company size or how long you have been in business, will know the immense pressure they feel to keep business flowing in, finding new leads and seeking out others that can help recommend their services. 

Running your own business often comes with hidden expenses that add to the pressure – the pressure increases tenfold when you have the responsibility of employees.  Add to this that its tough business world out there now, it’s no wonder you can let things get slightly out of kilter. 

Panic can creep in and you forget everything you have learnt about finding and getting new business.  Networking in the region is a huge business development opportunity that you must leverage from.  It takes time, it hardly ever brings immediate closed business, but works when you give the right amount of time and effort.

 Here are my 3 tips to remember when networking either in a group or one to one:

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Needed a Rockstar, hired a diva!

When working with SMEs run by a passionate entrepreneur, I often hear the business owner refer to the A Players they want on their team to needing to be Rock Stars! They want, and quite rightly so, A Players that are the best around, superstars of the future that will work hard to help grow the business. The Rock Stars need to be able to turn their hands to many things, be flexible to work across roles and give their all in to help the Company “break the industry!”.

Wow, inspirational stuff! And they are right, in order to grow quickly, the team you hire need to be a passionate bunch of people, driven the same way the entrepreneurial owner is, willing to go the extra mile …. I think you get the message.
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Too Busy To Let Them Go

We have all been there, someone on your team that isn’t really cutting it, but you keep putting off the job of dealing with it and ultimately asking them to leave.  There are many reasons why you do this: 

  • They are a nice person
  • They have family relying on them
  • They have been with the Company since day one
  • It’s not their fault that the role has changed and now it’s out grown them

 
All of these are fabulous excuses and allow you to sleep at night putting off the inevitable.  However, what is the real cost of delaying the conversation?  Here are 3 points to take into consideration:

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The dangers of paying under salary market rate

Anyone searching for a new job will have noticed that the salary they are seeking or the salary their role and experience would have warranted some months and years ago seems to have decreased, in some professions and industries, significantly. Why??

The cost of living hasn’t decreased, in fact its steadily going up and yet salaries are decreasing and for no apparent reason other than that Companies can find ridiculously qualified individuals willing to take whatever salary they can, which is now driving market rate salaries down.

So, are Companies taking advantage of people’s misfortunes?
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7 ideas for motivating your team during difficult financial times

1) Be clear what you stand for
A mismatch of values between the organisation and the workforce will cause stress and a sense of dissatisfaction within individuals.  How well do your staff understand the values of the Company?  I don’t just mean the values shown on the Company website, what are the actual values that you and your employees live by?  How are these communicated and are you living them every day?

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Why Not Outsource?

Companies are certainly going through challenging times now.  Many Companies are having to tighten their belts, reducing costs as much as possible whilst at the same time maintaining and often having to exceed the level of service they provide. 

 A recent article in Entrepreneur Magazine “How to Build a Better Business with Outsourcing” https://www.entrepreneur.com/article/204652 got me thinking, why aren’t more Companies outsourcing their key support services?

 This is an ideal time to start outsourcing key functions to specific Companies that specialize in the services they require, allowing for a senior professional to take care of a function on a “charge on hours used” basis therefore saving money. By outsourcing the day to day back-office tasks, the Business Owner has more time to focus on generating income.

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