Build a Strong Business by Working Smarter

As a business owner or executive, you can be very busy juggling the demands of day-to-day business operations, customer needs, and family and community commitments. However, you also need to focus on building a strong business by working smarter. That will create opportunities for more fun, more money and more freedom!

Follow these 5 key practices:

1) Handle challenges as they occur. Putting them off and hoping they’ll go away rarely works. You will actually create more work the longer you wait. Remember, a mole hill will turn into a mountain if not handled in a timely and appropriate manner.

2) Listen well the first time. Most of us are poor listeners. Not listening will create more work when we don’t deliver on what clients want, internally and externally.  Although it may take more time, when you slow down and truly listen, it will make life easier and reduce your workload.

3) Hire right the first time. You and your team will need to work harder if you have the wrong person in the job. Use a strategic process and qualified assessment tools. While they may seem expensive, they are not. A bad hire can cost the company 2.5% of the annual gross wage for that person (and may not include numerous intangible costs). Unfortunately, many small businesses have had to close their doors simply because they did not know how to hire right. (http://BizSavvyHire.com)

4) Follow-up and Follow-through. After networking, take 10 minutes and send everyone you met a “thank you” email or card. If you promised material or a call, do it now! Waiting may lose you customers, both current and future.

5) Honor expectations. A couple of examples that business owners need to honor: a) Arrive 5 minutes early for all meetings — if you’re late, you’ll need to work harder to get people to trust you. b) Manage your business with good financial data — use Generally Accepted Accounting Practices. Failure to do so may result in a time-consuming IRS audit. What else can you think of?

Working smarter does not mean working harder. Follow the above 5 practices and you will grow your business and enjoy the rewards.

©Jeannette Seibly, 2015

Need to transform your management practices? Contact me before it’s too late! http://SeibCo.com/contact

Jeannette Seibly is an internationally recognized business advisor. For the past 23 years, she has helped thousands of people work smarter, enjoy financial freedom, and realize their dreams now.  She has an uncanny ability to help her clients identify roadblocks, and help them focus to quickly produce unprecedented results.  Each client brings their own unique challenges, and her gift is helping each one create their success in their own unique way. Along the way, with her commitment, she helped create three millionaires.

The key role of any executive

The key role of any executive is to be an effective decision-maker and help steer the company forward profitably and productively. Unfortunately, we are often swayed by office politics, our personal biases, and lack of good objective information. Take time to learn how and when to ask the right business questions. Be strategic in your thinking so you are aware of how your decisions can impact others in doing their jobs, integrating with your current systems, and keeping your internal and external clients satisfied.

(c)Jeannette L. Seibly, 2013

3 Must-Change Habits for Executives

We all have acquired bad habits. The problem is they impede our ability to develop as a confident executive, a leader others wish to follow. Failure to gain others’ respect for you as a leader, regularly use win-win approaches and consistently produce desired results are ticking time bombs to your career!

Poor listening skills. Checking email during meetings, insisting on being right or multitasking when someone is talking will derail many careers. Multitasking is a myth. Active listening is a requirement for successful executives.  When you are able to accurately hear what people are saying – and not saying – you’ll also be able prevent bad outcomes. Executive leadership requires solid information-based decisions rather than poorly informed ones.

Menacing comments. Threatening others covertly (e.g., their job is in jeopardy) when the job is not getting done as you envisioned it, is a bad habit of many leaders. It rarely builds loyalty or intended results. If someone is not achieving the desired outcome, first look at how you communicate. Did you state the needed results? Did you listen to their concerns? Did you work through those push-backs or excuses (think, outside their comfort-zone or ethical considerations) effectively? Create a detailed Action Plan; then, coach them to take one step forward at a time. Involve other team members as appropriate.

Control at any cost. Being a know-it-all. Nit-picking others’ efforts. Fearing someone’s mistake will ruin you. Claiming others are untrustworthy. These behaviors signify an unconfident executive. A leader who doesn’t trust him or herself. You may be someone who achieved a leadership role before it was time. It is not too late to learn how to work with and through others for exceptional results. Hire a business advisor and develop the skills to inspect progress without micro-managing. To ask the right questions in the right manner and elicit the best in others. Good executives enable their employees to achieve even better results than they have achieved!

 

Jeannette Seibly is an international business advisor and executive consultant for privately-held companies with revenues of $1MM up to $30MM. She has created million-dollar results for 25 companies, and 3 millionaires!

(c)Jeannette Seibly, 2012