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Answer Upon - Team Building Part 2: Honesty is the Key!
Not Listening Can Hurt Your Small Business
Most small business owners seek advisors who can help them improve their businesses. They want advice from those who have the experience and really know what they’re talking about. But they can only benefit from the sound counsel if they listen to the expert’s guidance. Unfortunately, there are some entrepreneurs who aren’t going to hear the professionals out or follow a plan no matter what. At that point, experts realize that they might as well save their breath and hope that the business owner will eventually see the error of their ways before it’s too late.When it comes to offering his advice, franchisee Sam Badgley is very up front with his Fiducial clients in Williamstown, WV. He tells them exactly what he expects and makes it very clear what they need to do to follow his recommendations. If he encounters someone who repeatedly ignores everything he’s been telling them which is a total waste of his time, he then decides to cut them loose as a client.“Through experience I’ve learned that when you run into somebody like that they are not going to change,” said Badgley.Trust gives you a great advantageWhere the problems usually occur between advisor and client is in the administration of the account where owners fail to deliver the timely data Badgley needs to help their business.“I’ll get them to set timetables and set some of those goals or targets but they just repeatedly miss them,” he said.Aerospace industry, the Armed Forces, the Telecoms industry and the Training industry. There is no suggestion of this being a 100% so
Most small business owners seek advisors who can help them improve their businesses. They want advice from those who have the experience and really know what they’re talking about. But they can only benefit from the sound counsel if they listen to the expert’s guidance. Unfortunately, there are some entrepreneurs who aren’t going to hear the professionals out or follow a plan no matter what. At that point, experts realize that they might as well save their breath and hope that the business owner will eventually see the error of their ways before it’s too late.When it comes to offering his advice, franchisee Sam Badgley is very up front with his Fiducial clients in Williamstown, WV. He tells them exactly what he expects and makes it very clear what they need to do to follow his recommendations. If he encounters someone who repeatedly ignores everything he’s been telling them which is a total waste of his time, he then decides to cut them loose as a client.“Through experience I’ve learned that when you run into somebody like that they are not going to change,” said Badgley.Trust gives you a great advantageWhere the problems usually occur between advisor and client is in the administration of the account where owners fail to deliver the timely data Badgley needs to help their business.“I’ll get them to set timetables and set some of those goals or targets but they just repeatedly miss them,” he said.Aerospace industry, the Armed Forces, the Telecoms industry and the Training industry. There is no suggestion of this being a 100% so
The Explosive Benefits of a Natural Market
Last year a local gentleman opened a Mexican restaurant in our area. The unique aspect of the restaurant is that not only is the Mexican food authentic, but the employees are Hispanic as well. When you walk through the doors, you feel as though you’ve stepped into another culture.Six months later, this same gentleman opened up another restaurant on the other side of town. What was the secret to his immediate and amazing success? ...he found a natural market. No one can simulate a natural market. Outsiders go to get the cultural flavor as well as the good food, insiders go to enjoy the “homey” experience.What Defines a Natural Market?The most obvious natural markets are cultural, but include a host of other characteristics that you may be familiar with as well. What about homeschooling parents? Who could communicate more clearly, or provide more relevant products than another homeschool parent?A natural market is simply the part of a market that you have something in common with. It will automatically make you connect with your customers on a personal level, making your marketing strategies more effective.Why Explore Natural Markets?You can make immediate and lasting connections with your potential natural market. Let’s face it, we’re more comfortable and more confident doing business with someone we have a lot in common with. It can’t be helped... it’s just in our nature. Take advantage of natural
The second in a series of 2 articles giving a slightly different viewpoint on effective team building, condensed from an original seminar presented by the author, John Roberts. John is a Freelance Training Consultant and director of JayrConsulting Ltd. Part 1 ( Another Brick in the Wall ) dealt with selecting and building the initial team. Part 2 deals with the culture that need to be in place to run the team really effectively. The ideas expressed are personal opinions built up from many years of experience in the Electronics/Aerospace industry, the Armed Forces, the Telecoms industry and the Training industry. There is no suggestion of this being a 100% solLast year a local gentleman opened a Mexican restaurant in our area. The unique aspect of the restaurant is that not only is the Mexican food authentic, but the employees are Hispanic as well. When you walk through the doors, you feel as though you’ve stepped into another culture.Six months later, this same gentleman opened up another restaurant on the other side of town. What was the secret to his immediate and amazing success? ...he found a natural market. No one can simulate a natural market. Outsiders go to get the cultural flavor as well as the good food, insiders go to enjoy the “homey” experience.What Defines a Natural Market?The most obvious natural markets are cultural, but include a host of other characteristics that you may be familiar with as well. What about homeschooling parents? Who could communicate more clearly, or provide more relevant products than another homeschool parent?A natural market is simply the part of a market that you have something in common with. It will automatically make you connect with your customers on a personal level, making your marketing strategies more effective.Why Explore Natural Markets?You can make immediate and lasting connections with your potential natural market. Let’s face it, we’re more comfortable and more confident doing business with someone we have a lot in common with. It can’t be helped... it’s just in our nature. Take advantage of natural
10 Annoying Employee Work Behaviors and What to Do About Them
It’s that time of year, when employee evaluations are due, where we evaluate the behaviors in employees that annoy us the most and try to figure out what to do about them. Below are ten behaviors that experts all over the world have identified as irritating, problematic, or counterproductive along with a proposed solution to the problem. The ten are in no particular order, but each one has its own set of circumstances which impact a company’s productivity or morale in some way.Promotion and/or Pay Raise Seekers Who Haven't Earned Their Stripes“If you want something different or better than the position you're currently in, then do the work, serve the role, earn the job and make it evident to everyone around you that you deserve it (without blowing your own horn every five minutes). The easiest promotions come when it's blatantly obvious that someone is already doing the job and capable of carrying it. The worst situations come when someone gets promoted to a job for which they aren't qualified. Everyone suffers in that scenario,” says Dick Hoffman, Owner of Hoffman Management Consultancy based in the Netherlands. “When someone pursues a title, promotion or raise so relentlessly that they make everyone around them miserable, then it's usually time to recommend that they exit the current situation and pursue another job.”Falling Asleep on the JobSometimes employees simply don’t get the proper rest
inar presented by the author, John Roberts. John is a Freelance Training Consultant and director of JayrConsulting Ltd. Part 1 ( Another Brick in the Wall ) dealt with selecting and building the initial team. Part 2 deals with the culture that need to be in place to run the team really effectively. The ideas expressed are personal opinions built up from many years of experience in the Electronics/Aerospace industry, the Armed Forces, the Telecoms industry and the Training industry. There is no suggestion of this being a 100% soIt’s that time of year, when employee evaluations are due, where we evaluate the behaviors in employees that annoy us the most and try to figure out what to do about them. Below are ten behaviors that experts all over the world have identified as irritating, problematic, or counterproductive along with a proposed solution to the problem. The ten are in no particular order, but each one has its own set of circumstances which impact a company’s productivity or morale in some way.Promotion and/or Pay Raise Seekers Who Haven't Earned Their Stripes“If you want something different or better than the position you're currently in, then do the work, serve the role, earn the job and make it evident to everyone around you that you deserve it (without blowing your own horn every five minutes). The easiest promotions come when it's blatantly obvious that someone is already doing the job and capable of carrying it. The worst situations come when someone gets promoted to a job for which they aren't qualified. Everyone suffers in that scenario,” says Dick Hoffman, Owner of Hoffman Management Consultancy based in the Netherlands. “When someone pursues a title, promotion or raise so relentlessly that they make everyone around them miserable, then it's usually time to recommend that they exit the current situation and pursue another job.”Falling Asleep on the JobSometimes employees simply don’t get the proper rest
Innovation Management - idea selection, development and commercialisation, what are the differences?
Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted.There is often much confusion between the three stages of innovation.Idea selection seems to be pretty straightforward, and it is. Here, a critical frame of mind is used to reduce a quality idea pool into feasible ideas. Critical thinking is opposed to creative thinking – where we use logic, reason, conservatism, feasibility and practicality to select the best ideas.But often more than one good idea is generated. In fact, more than one good idea needs to be generated. The Economist (2003b) states that 3000 bright ideas are needed for 100 worthwhile projects, which in turn will be winnowed down to four development programmes for new products. And four such development programmes are the minimum needed to stand any chance of getting one winner.Thus the next stage of innovation, development, involves deciding between all the good ideas. Until now,
her Brick in the Wall ) dealt with selecting and building the initial team. Part 2 deals with the culture that need to be in place to run the team really effectively. The ideas expressed are personal opinions built up from many years of experience in the Electronics/Aerospace industry, the Armed Forces, the Telecoms industry and the Training industry. There is no suggestion of this being a 100% soCreativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted.There is often much confusion between the three stages of innovation.Idea selection seems to be pretty straightforward, and it is. Here, a critical frame of mind is used to reduce a quality idea pool into feasible ideas. Critical thinking is opposed to creative thinking – where we use logic, reason, conservatism, feasibility and practicality to select the best ideas.But often more than one good idea is generated. In fact, more than one good idea needs to be generated. The Economist (2003b) states that 3000 bright ideas are needed for 100 worthwhile projects, which in turn will be winnowed down to four development programmes for new products. And four such development programmes are the minimum needed to stand any chance of getting one winner.Thus the next stage of innovation, development, involves deciding between all the good ideas. Until now,
Symptoms of Fraud
Fraud Symptom Categories1. Internal Control Problems - material weakness The first thing to remember when looking at internal controls is the fraud triangle. Without all three elements of opportunity, pressure and rationalization it is less likely that fraud will occur. By creating controls that prevent these elements or detect them in a timely manner after occurance managers can effectively monitor compliance.Specific internal control issues stem from the organizations structure. Examples of symptoms of control deficiencies include a lack of the following: segregation of duties, independent verification, proper authorization, physical safeguards, overriding the system in place, and proper documentation.2. Analytical Irregularities These symptoms are unusual relationships of current financial statement ratios are compared to prior years. The analytical tests identify those transactions that are extreme cases and fall outside of the normal distribution of values. Common examples include: shortages of inventory, the use of too many credits to accounts receivable, or the existence of new vendors.3. Accounting Abnormalities The symptoms of accounting issues involve problems with faulty journal entries, nonexistent or fraudulent source documents, and incorrect ledger balances. Journal entries that are tampered with by smart fraud
run the team really effectively. The ideas expressed are personal opinions built up from many years of experience in the Electronics/Aerospace industry, the Armed Forces, the Telecoms industry and the Training industry. There is no suggestion of this being a 100% soFraud Symptom Categories1. Internal Control Problems - material weakness The first thing to remember when looking at internal controls is the fraud triangle. Without all three elements of opportunity, pressure and rationalization it is less likely that fraud will occur. By creating controls that prevent these elements or detect them in a timely manner after occurance managers can effectively monitor compliance.Specific internal control issues stem from the organizations structure. Examples of symptoms of control deficiencies include a lack of the following: segregation of duties, independent verification, proper authorization, physical safeguards, overriding the system in place, and proper documentation.2. Analytical Irregularities These symptoms are unusual relationships of current financial statement ratios are compared to prior years. The analytical tests identify those transactions that are extreme cases and fall outside of the normal distribution of values. Common examples include: shortages of inventory, the use of too many credits to accounts receivable, or the existence of new vendors.3. Accounting Abnormalities The symptoms of accounting issues involve problems with faulty journal entries, nonexistent or fraudulent source documents, and incorrect ledger balances. Journal entries that are tampered with by smart fraud
Marketing Without Money: Free Promotion Of Your Products
Many small businesses cannot afford the funds needed for marketing their products and services. This, however, does not mean that you should not try marketing your products at all. This article discusses some of the techniques of marketing your products for little or no money.Online Articles:Write articles for online websites about your products or services. If you have a business of selling wooden display cases, then write a series of informative articles on wooden display cases and post them online. This increases your visibility online, which translates into higher sales.Press Releases:Create detailed press releases that highlight your business in the best possible light. While writing press releases, use the standard format. Put your name, name of the company, website URL, and contact details on the press release statement. Keep in mind the target audience when drawing up the press statement. You should also have a catchy title and supporting research data on the press release. You can forward the press release to local radio and TV stations, newspapers, and magazines, many of which will run a story about you free.Seminars:Participate in seminars, where you will get the opportunity to present your products and demonstrate them in front of a live audience. You can even call a seminar of your own at some large firm that will only be too glad to have an expert in the field hold a seminar. This kin
Aerospace industry, the Armed Forces, the Telecoms industry and the Training industry. There is no suggestion of this being a 100% solution applicable to or workable in all situations, but it is aimed at getting people to think outside of the norm and question the ‘normal’ way of doing things.Many small businesses cannot afford the funds needed for marketing their products and services. This, however, does not mean that you should not try marketing your products at all. This article discusses some of the techniques of marketing your products for little or no money.Online Articles:Write articles for online websites about your products or services. If you have a business of selling wooden display cases, then write a series of informative articles on wooden display cases and post them online. This increases your visibility online, which translates into higher sales.Press Releases:Create detailed press releases that highlight your business in the best possible light. While writing press releases, use the standard format. Put your name, name of the company, website URL, and contact details on the press release statement. Keep in mind the target audience when drawing up the press statement. You should also have a catchy title and supporting research data on the press release. You can forward the press release to local radio and TV stations, newspapers, and magazines, many of which will run a story about you free.Seminars:Participate in seminars, where you will get the opportunity to present your products and demonstrate them in front of a live audience. You can even call a seminar of your own at some large firm that will only be too glad to have an expert in the field hold a seminar. This kin
1. Honesty – The Key!
It really is that simple! The basic foundation of building and running REALLY successful teams is TOTAL honesty! Sounds simple, but it can be one of the hardest things to implement due to existing workplace cultures and peoples long-term conditioning to them. If you are not prepared to implement this culture change, you will only ever h
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