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Ways Business Owners can Deal with Personal Crisis

Entrepreneurs, by their very nature, are self-reliant. They set goals and achieve them with confidence. When a personal crisis strikes a business owner, it can be very damaging to their corporate environment and even its micro-culture. Suddenly, the dynamics change and can lead to irreparable harm. We’ve all heard the advice not to bring personal problems into professional space, but, some are so large they have a nearly uncontrollable effect. It’s best to bring the situation into perspective, but, doing so might be difficult to accomplish.

Ways Business Owners can Deal with Personal Crisis

In some instances, it’s possible to prepare a business for a crisis. When it’s impending and inevitable, business owners should prepare by speaking with their team members about delegating and assigning responsibilities, seek legal advice (if applicable), and focus on what’s most important. There will be difficulty in maintaining balance but by being proactive, you’ll have less to worry about.

Eventually it happens to the best of us. Something occurs in our personal lives that is so devastating, we have difficulty concentrating at work. It may be the death of a loved one, a divorce, a financial crisis, or serious damage to our homes. When our personal lives are in chaos, it can be hard to focus and get what we need to do done. —Inc.com

Unfortunately, it’s often the case that a personal crisis strikes without warning. When it does occur, it can be very burdensome to get through. Even the toughest entrepreneurs will have difficulty trying to deal with upset in their personal lives while continuing to run their businesses. Here are some ways business owners can deal with a personal crisis:

Outsource and be willing to ask for assistance. It’s okay to let go and farm-out work during turbulent times, especially if you’re having trouble staying focused and concentrating. Also, there’s no shame asking for assistance from your team — it’s actually a smarter choice.
Be upfront with customers. As soon as possible, let your clients know about the situation. You don’t have to go into details, but you ought to alert them to what’s going on, particularly if you’re not able to work as usual. You’ll find most to be understanding and that helps to give you some peace-of-mind.
Surround yourself with positive people. This is something that successful entrepreneurs naturally do but it’s very important when you’re going through tough times. Personally, I lean on others as well as my faith and prayer to shoulder the burdens of crisis. It’s uplifting and it can be a way to see the silver lining knowing others are walking with you.
Give team members more flexibility. Your employees are huge assets to your business and during a personal crisis, can be the best go-to source for carrying-out day-to-day operations. Give them the flexibility that’s needed to keep your company running smoothly.
Do not put undue pressure on yourself. If there’s one thing entrepreneurs struggle with, it’s the fear of not getting the job done. When you are dealing with personal issues, give yourself permission to lighten your workload.
Take time to reflect on what’s most important. This is an ideal time to put everything in perspective. Give yourself time off and reflect on what’s truly important in your life.

In addition to these, you should be honest with yourself about your life’s direction. Some business owners who experience a personal crisis use it as a learning tool advantageously, but others allow the event to cloud their judgment and make rash decisions. When you’re not thinking clearly, be willing and ready to ask for advice from someone you trust. In my life, I have found great opportunity comes from crisis because of my willingness to reflect and make changes. How have you overcome crisis and remained focused and successful with your business?

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How You’re Sabotaging Your Own Business

May 16, 2017 No Comments

You put a lot into your business and have a commitment to make it grow. It’s likely that you want to do more than provide for your family, you probably would like to leave a legacy, and, feel the satisfaction of accomplishment. However, what’s holding your company back from its potential isn’t necessarily sinister, uncontrollable, outside forces–it’s you who is the culprit. That might sound strange, but it’s a reality that plagues many organizations, from the mom and pop brick and mortar, to software as a service, to large community companies. While you’re busy being busy and worrying about this and that, you’re likely missing some behaviors and practices you personally do to sabotage your own business. Sure, you know about your propensity to push yourself and try to keep a sound balance between work and home life, but, there are other ways you could be causing harm. How You’re Sabotaging Your Own Business Entrepreneurs have a dedication to an idea, and ironically, it’s that commitment which can cloud judgment, or, cause myopia–not seeing the bigger picture. There’s more to building a business than recruiting the right people, networking, and delivering a good level of service, along with the products or a services you offer or provide. Success begins with you, and, while you might have the drive to make it a worthwhile venture, you might also be impeding growth. Most entrepreneurs have the drive and desire to succeed. It’s what we grow up learning and what we want from an early age. But many of us have also been adversely wired by negative experiences in ways that sabotage or hinder our chances of personal and business success. The good news is that we can rewire ourselves in ways that not only neutralize our negative programming, but also put us on an even stronger path to success. —Forbes Most business owners understand that the right pricing, marketing, and brand building are crucial factors for success. What goes largely unnoticed is certain behaviors and practices that can inflict real damage, some of which can be long lasting. So, if you’re doing one of these things, identify them, and settle on a fix. Over-promising. It’s easy to give-in to pleasing your customers, and, doing so is laudable. However, when you over-promise, you run the very real risk of coming-up short. That’s a bad place to be and finding a way out of such a situation won’t be simple. Micromanaging. When you have every member of your organization under your thumb, you are sending a message that says you believe them to be incompetent. What’s more, you’re indirectly telling them they are only a tool, not an asset to your company. Not delegating. It’s one thing to micromanage, but it’s not the same as not delegating. You can be hands-off and not delegate, which can create chaos and decrease efficiency, as well as output. You ought to delegate to streamline your organization and make it work better. Keeping dead weight on staff. When you keep toxic team members on-board, you are sending a bad signal to others. What’s more, that particular person can project a negative image to your customers and to the outside world. Not setting achievable goals. You’ve probably heard the Zig Ziglar quote, “If you aim at nothing, you will hit it every time.” That’s certainly true, and, it’s just as true of setting goals that aren’t realistic. Set workable goals, reach them, and then repeat. Another way you can easily sabotage your own business is to take things personally. There will be setbacks, even outright failures, and, you’ll lose good people along the way. Don’t take things personally because you’ll make emotional decisions, not sound ones. [shareaholic app=”follow_buttons” id=”26833294″]

The Trump Kim Jong Un Summit and Its Most Valuable Lesson

March 13, 2019 No Comments

The world paid close attention to the summit between President Trump and Kim Jong Un. Regardless of its ultimate outcome, there’s a lesson going on every entrepreneur should learn. Namely, how to avoid snakes in business. The Fable of the Scorpion and the Frog They come by different names: charlatans, cheats, hustlers, swindlers, and more. For those who’ve not heard it, the fable of the scorpion and the frog weaves a short, cautionary tale. A scorpion needs to cross a river and asks a frog for a lift. The frog objects, saying the scorpion will sting and kill him. Regardless of their specific methods, con artists typically depend on their abilities to charm, intimidate, and rapidly spin convincing lies. More often than not, con artists are successful because well-meaning staff members accidentally provide crucial information in an attempt to assist them. Ultimately, the best way to protect your business from con artists is to make your team aware that they exist. CEOs and their team members should be constantly vigilant about what they share and with whom. —Forbes.com But, the scorpion points out, if he were to sting the frog, both would drown in the river. The frog reluctantly agrees and midway, the scorpion stings him. The frog asks why and the scorpion replies, “It’s my nature, I’m a scorpion.” How to Avoid Con Artists to Protect Your Business Now, con men cleverly disguise their true natures. They conceal their actual motives and that’s what makes them so difficult to spot. But, there are usually at least one or two (even more) warning signs. Here are a few ways to avoid con artists to protect your business: Listen to your gut. Con men know how to read people — it’s a necessary trait. So, they are careful to convince. Which means, it’s not easy to spot the scheme straight away. But, your gut feeling might be all you need to avoid becoming a victim. Put things into perspective. This is another way of saying, “If it sounds too good to be true, it probably is.” In other words, if you hear something that seems to be too good, put it into perspective. More particularly, place it up against reality. If it’s like trying to hammer a square peg into a round hole, you have your answer. Don’t hesitate to ask around. Shysters need to move on and move quickly before word spreads. While it might not be comfortable, ask around. Do a little digging if you get a funny feeling to see if others had a bad experience. It’s worth your time and effort in the long run. Trust but verify. Along the same lines is to verify. Check out what they’re selling to learn if it’s genuine or just a hustle. With a small amount of sleuthing, you can save yourself a lot of grief. How do you spot charlatans? What additional advice would you give others about avoiding con artists? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Build a Positive Brand

May 16, 2017 No Comments

One thing that makes companies successful is branding. We see it everywhere and all the time, from television spots, to radio ads, to catalogs and other marketing materials, businesses put out impressions of themselves to the public. The reason for branding is obvious but it’s not necessarily an easy task. It requires differentiating an entity from its competition to make it instantly recognizable to consumers. A brand has to not only be recognizable, it has to live up to its self promotion and establish a reputation that’s commensurate with its marketing. There’s practically little else which can destroy a company faster than having a bad reputation. Even the most effective branding won’t allow a company to escape bad publicity or a negative consumer image. Small business owners might not believe that branding is necessary for them precisely because of their small size; however, in a world that is digitally centered, that’s simply not the case. No matter the size of your organization, it needs a positive brand to help propel it forward. Ways to Build a Positive Brand To build a positive brand, you’ll need to think about the future–it’s what you do now that’s most important. There are defunct companies that doomed themselves by not being aware of the image they were presenting. Relying on gimmicks is another mistake. Companies that place their marketing efforts into gimmicks usually have little else to offer, and, that’s a precarious position. Being genuine and offering good service with a positive attitude are great ways to build a brand. Our personality and professional image sets the tone and stage for how we are all perceived. With the reality of a 24/7 online media world that can change things in a real-time split second, one small wrong move or right move can go viral and change everything. —Small Business Trends To keep your business growing, you have to employ more than one tactic. There are new customers to be found and try your products and services over competitors, and, it’s your brand that will help to convince them to do so. Here are a few ways to build a positive brand: Create a positive work environment. Your brand starts from within your organization. Remember, your employees have lives outside your company and talk to people about work. This is why it’s important to facilitate a positive environment. After all, people won’t give you any business if they’ve heard bad things from insiders. Have a clear and easy-to-follow customer service protocol. Your team members are one of the most powerful sales tools you have. The better they deliver, the better your company does. When it comes to customer service, everyone should know how to respond and to do so in a timely, polite manner. Offer something for nothing. People like free things, practically no matter what they are: great content that is helpful, complimentary items, discounts, and other things can have a big impact. What’s more, if you do this on a regular basis, it will create a positive impression. Make a commitment to your community. Volunteering is something every leader should do and not just for the sake of networking. When you volunteer, you send a very powerful message about yourself and your company. Another thing you can do to create a positive brand is to always follow-up with comments and reviews. Good or bad, these are helpful and the way you deal with comments and reviews will say much about your business. [shareaholic app=”follow_buttons” id=”26833294″]

Ways Business Owners can Deal with Personal Crisis

Ways Business Owners can Deal with Personal Crisis

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How You’re Sabotaging Your Own Business

The Trump Kim Jong Un Summit and Its Most Valuable Lesson

How to Build a Positive Brand