Everyone has an opinion. But, everyone can’t be right. There’s always a set of best practices and then there are ways to do things that fall short of success or lead to bad outcomes. So, this is why people seek advice from their family and friends when they want to start a small business. The trouble with this approach is that the people the entrepreneur is speaking to may not be the owner of a profitable small business. While it’s certainly understandable to seek advice from people you trust, that doesn’t necessarily mean they’re the best or only sources. Remember, Real Friends are Supportive Here’s another problem. There are a lot of individuals around you who will tell you that you can’t do it. Usually, this is based on fear, but can also manifest from those who are envious that you’re willing to take a risk to improve your life and be professionally successful. Then, there may even be people around you who went into business for themselves, but it didn’t work out. Ask business owners who specialize in the same niche as your startup if they have any tips. Business owners in your market know about accountants, lawyers, and recruiters who might be a good fit for your needs. They can make recommendations and point you in the right direction. —Entrepreneur.com While the reason that their businesses failed might not be direct to their own decisions, it’s generally a safe bet. Even if it was circumstances beyond their control, successful business owners are the ones who find a way through tough times, endure, and come out on the other side. To put it much more plainly, if you’re seeking advice from people who have failed in their own business ventures, you’re speaking to the wrong people, unless they have gone on to succeed in other ventures by learning from their failures. Failures can be the precursor to success if we learn from them. Best Places to Seek Business Advice Fortunately, there are a few places you can go to get reliable, actionable advice about starting your own business. Here are the best places to seek entrepreneurial advice that will help you get started in the right direction: Successful individuals in the industry. Sure, this sounds all too obvious. But, a lot of people who want to go into business for themselves are fearful of speaking with people that are already successful in the industry. Now, that sounds strange, but it makes sense if you think about it in a different way. Those who avoid successful individuals in the industry into which they want to enter, typically don’t want to give up their plans – which is to say their strategies and secrets. So, they make the mistake of being protective of their ideas, without knowing if said ideas are actually good or bad. Small business development groups. There are small business development groups that can help you get some of the logistics worked out and even provide a little friendly advice that you may not have thought of on your own. But, here again, you must be willing to share your ideas with others. Doing so will allow other people to gauge your ideas and their merit. Local industry trade associations. These industry trade associations exist to promote their industry, which is their sole purpose. You’ll learn a lot about the industry, and perhaps your own niche, along with some tricks of the trade and how your competition deals with its challenges. Of course, it’s just as wise to consult someone who specializes in starting and growing small businesses. An experienced business consultant and coach brings a wealth of information and is someone who can not only provide valuable input but also be supportive. Where else do you recommend people starting a small business seek advice? Please take a few minutes to share your thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

With the roll-backs of local, state, and federal COVID-19 restrictions, businesses are attempting to return to a state of normalcy. But, reinstating pre-pandemic conditions isn’t as simple as they ought to be, and too many entrepreneurs are experiencing such a cruel reality. So, some are experimenting with a hybrid solution: a combination of work-from-home or WFH and on-site business operation. Sure, it certainly sounds like a logical solution. But, every solution breeds new problems. Meaning, there are distinct disadvantages to adopting a WFH and on-site business model. Biggest Hybrid Workplace Advantages Obviously, corporations around the world wouldn’t put a hybrid model in-place unless it had substantial benefits. And, there are some compelling reasons, like the potential of increased productivity via a customizable schedule. After all, happy employees are more productive and that’s certainly good for the bottom line. Then, there’s the morale boost which comes from being able to choose from WFH and on-site. Employees cherish the freedom and that too, helps to boost both productivity and morale. What many companies are converging on is a mixture of remote working and traditional office working, known as the hybrid workplace. A hybrid workplace exists when a business allows their employees to work either remotely or from the office. In a typical hybrid workplace, employees have the choice of working in a central office, working from home, or splitting their time between the two. —WeWork Ideas Blog Additionally, it can help to reduce operating costs, which decrease with the lessened need of supporting individuals constantly on-site. Moreover, it allows employees to avoid toxic situations. For instance, two or more employees who don’t get along very well in-person can find relief by not having to be in close proximity. 4 Issues with a WFH and On-Site Hybrid Business Operation While a hybrid operation might sound like a perfect answer, that just isn’t the case. Unfortunately, there are big potential problems with adopting a hybrid model, as the following issues might present: Managing a hybrid team is very difficult. Anyone with experience in managing a team is familiar with the vast time and effort that goes into making it work. Now, add-in a bunch of other variables that weren’t present before and it’s easy to imagine just how more difficult or nightmarish managing people in totally different physical locations is in reality. Some WFH employees will take advantage. Put this problem in the all-too-obvious column: some employees will exploit the new policies to their own personal advantage, even if it results in harming others and/or the company. While it’s not something you might relish thinking about, it is most definitely a possibility or perhaps, even a probability. A hybrid scenario can easily foster resentment. Another potential problem is along the same lines as the one above — that one or more employees will gain a sense of others’ nefarious behaviors regarding the hybrid operation. That could very well cause resentment to rear its ugly head. Not everyone will contribute the same amount. Expounding on the last two possible issues, is the real possibility one or more employees will shuffle responsibilities off their own shoulders and onto their coworkers through a form of sleight of hand. What other suggestions do you have to deal with potential work-from-home issues? Please take a few minutes to share your thoughts and experiences. Perhaps others can benefit from your unique perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Prioritize Your Business’s Goals for the New Year As we step into a fresh new year, it’s the perfect time for small business owners to reflect on their accomplishments and set new goals to propel their businesses forward. However, setting goals is just the first step; the real challenge lies in prioritizing them effectively. In the following article, we’ll explore the most practical and persuasive tips to help you prioritize your business goals and set the stage for a successful year ahead. So, here we go! Reflect on the past year. Let’s start by taking an inventory and getting perspective on the time that’s just passed. Before diving into the new year, take a moment to look back at the past year. Evaluate your successes, failures, and lessons learned from both ups and downs. This will help you identify which goals were met and which were not, and why. Understanding your past performance will give you valuable insights into which goals should be prioritized in the new year. Align your goals with your vision. Ensure that your goals are aligned with your overall business vision. This will help you stay focused on what truly matters and avoid getting sidetracked by less important tasks. Clearly define your long-term vision and break it into smaller, achievable goals to help you progress toward that ultimate destination. Focus on your strengths. Prioritize goals that leverage your strengths and core competencies. By focusing on what you and your team do best, you’ll be more likely to achieve your goals and deliver high-quality results. This doesn’t mean you should ignore your weaknesses, but rather, allocate resources strategically to maximize your potential. Set SMART goals. Make sure your goals are Specific, Measurable, Achievable, Relevant, and Time-bound (SMART). This will help you create a clear roadmap for your business and ensure that your goals are realistic and attainable. Additionally, this approach will keep you grounded and help prevent you from taking on tasks that aren’t realistic. Prioritize goals based on impact. Prioritize your goals based on their potential impact on your business. This can be measured in terms of financial gains, customer satisfaction, market share, or any other key performance indicators that are relevant to your business. By focusing on high-impact goals, you can make the most of your resources and achieve significant results. Break down those goals into actionable tasks. Once you’ve prioritized your goals, break them down into smaller, actionable, and attainable tasks. This will make your goals more manageable and help you stay on track. Assign deadlines and responsibilities to each task, and monitor your progress regularly. Be flexible and adaptable. As a small business owner, you know that the business landscape is constantly changing. Be prepared to adjust your priorities as needed. Keep an eye on market trends, customer preferences, and industry developments, and be willing to pivot your priorities if necessary. Prioritizing your business goals for the new year is a critical step toward achieving long-term success. By reflecting on the past, aligning your goals with your vision, focusing on your strengths, setting SMART goals, prioritizing based on impact, breaking down goals into actionable tasks, and remaining flexible, you’ll be well on your way to a prosperous new year. Remember, the key to success lies in staying focused and committed to your goals, and continuously reassessing and adjusting your priorities as needed. Here’s to a successful new year for your small business! Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? Let’s solve your biggest challenge – right now! We invite you to a FREE 30-minute consulting session where you can describe your biggest business challenge and we will then gladly share our 150 years of combined business experience solving that challenge. We have worked with hundreds of clients with challenges just like yours. Call us for your free appointment at 602-435-5474, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.