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All, Business Education

How to Avoid People Who Waste Your Time

Successful business entrepreneurs obsess over their companies and know instinctively the phrase, “time is money,” is true. It’s why business owners hire others to do tasks they could otherwise do themselves: accounting, marketing, paperwork, and so on. However, not everyone in the world of business is adept at executing, some, talk and do so a lot — a whole lot. They procrastinate, squander time on trivial tasks, and have long conversations without an objective. What’s worse, is some of us are not only susceptible to time wasters, we’re also enablers.

How to Avoid People who Waste Your Time

Enablers are generally very caring, thoughtful individuals and they don’t like to hurt others’ feelings. Even business people who are laser focused and get things done are time waster enablers, because they interact and hire them. While it seems completely counterintuitive, you don’t really know a person’s qualities until you get to know him or her through your work together. Someone might appear to be just as focused and enthusiastic but appearances can be misleading.

We’re all too busy, spending our days in back-to-back meetings and our nights feverishly responding to emails. (Adam Grant, a famously responsive Wharton professor, told me that on an “average day” he’ll spend 3-4 hours answering messages.) That’s why people who waste our time have become the scourge of modern business life, hampering our productivity and annoying us in the process. —Harvard Business Review

You contract and hire individuals based on their previous work but it isn’t until you really begin to interact with them you learn their true character traits. While you might be impressed with their body of work, you probably aren’t at all eager to become a victim of someone who wastes your time. The really big problem to overcome is to spot time wasters and that’s very difficult, because it could be anybody, not just an employee or contractor, but also a partner, vendor, customer or client. The trick is to identify as soon as possible those who are most likely to waste your time from those who get things done. You can do this by looking for certain personality extremes:

Negative individuals. Head down, slumped shoulders, complete with a scowl or frown, negative people tend to broadcast their misery physically with body language. Even those who manage to look composed will definitely show their true colors when speaking. They portray themselves as victims, bring you and others down, and worst of all, waste your time.
Super happy people. Happy-go-luckily, big smile, with large, enthusiastic stride, super happy individuals might be a blast and cheer others up, but, these people can be a bit too exuberant. These can easily be signs of immaturity and even though jubilant, they’re not serious about much of anything. These individuals will definitely liven up a room, but, they’ll also waste your time and do so with a big grin and bellowing laughter. You’ll be trying to get things done while they’re cracking jokes and carrying-on.
Gossip spreaders. People who can’t wait to tell you the latest about this or that with him or her are to be avoided at all costs because they’re involving you in the drama as well, even if you don’t know it. Individuals that take gossip to a whole new level aren’t interested about getting things done, they are only interested in spreading rumors and stirring-up drama to justify their agenda.
Emotional people. Speaking of drama, those who revel in spreading rumors and gossiping can also be very prone to being emotional. They go from one extreme to another and never seem to be on an even keel. These individuals do little else than waste their own time, as well as others. They tend to be irrational and irritable and ought to be completely avoided.

Another two personality types who can be total time wasters are attention seekers and self-centered individuals. The former will always want to be the center of attention, no matter where they might be, while the latter will step on toes and cross lines in a self-serving manner. This is why it’s imperative to surround yourself with positive, focused individuals who get things done and share your enthusiasm so that you can achieve your goals.

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Should I Sell My Business During the Downturn or Wait until the Economy Rebounds

July 22, 2020 No Comments

If you run a successful business — and have for many years — it’s understandable that during such an uncertain time as there is now, you might consider just getting out. This is particularly true for individuals who’ve enjoyed a good amount of success but just don’t want to go through another cycle that again puts them emotionally through the wringer. However, because of all of that’s going on in the economy, with things largely down, is it best to sell now or wait until the economy recovers? The Downsides of Selling During a Recession That’s really the million-dollar question. Of course, a recession will naturally be a more tough environment in which to sell. There will be fewer buyers available as small business credit tightens and even larger organizations avoid potential risk. So, you’ll probably find it a bit challenging to find a suitable buyer. The Great Recession ended in 2009 and impacted the lives of many. Now as the economy appears to be headed into another downturn, it’s a good time to review how to take advantage of the recession instead of letting it take advantage of you. —Investopedia Then, there’s another fairly obvious factor — will your business bring the amount you expect? Put another way, can you sell it for the same amount or near the same amount you would be able to during normal economic times? Also, how do you effectively market your business in order to attract the right type of buyer? (This is where an experienced business consultant/coach would come in very handy.) The Advantages of Selling During a Recession Conversely, there are some distinct advantages to selling during an economic downturn. Here are some benefits you should know about: You might be able to leverage a slight discount. Okay, so that’s probably not what you want to hear, but this doesn’t mean giving your company away for an undervalued, low-ball price. What it does mean is being able to attract qualified buyers with the promise of a fair deal. By taking this approach, you may be able to sell it faster and move on to something else, or perhaps retire, in a shorter period of time. You can separate out time-wasters from serious buyers. This is something just about any business that’s for sale encounters. People who talk a good game but never really follow through and actually take action. On the flip side, serious buyers will understand the overall economic circumstances. Therefore, they’ll be more sincere and eager to get the deal done. In other words, they’ll likely have their ducks in a row and be ready to proceed because they’re serious. Remember that you’re in control. Very few business owners who decide to sell are completely comfortable with their decision. The majority will second-guess themselves over and over again, even after they go through with a transaction. The bottom line is, if you are able to get a fair price, it’s probably not worth risking waiting any longer, because the economic environment could worsen and that will most definitely hurt your chances of selling. What other advice do you have? Please take a moment to share your thoughts and experiences by commenting and giving others valuable feedback! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Turn YOLO into Action

January 10, 2019 No Comments

YOLO — You Only Live Once. It’s true and that’s precisely the reason to give that business idea you have a real go. Really. What you’re waiting for isn’t likely to happen. You have to make it happen. So, let’s get right to it. Why Most Business Start-Up Roadblocks are Imaginary Okay, you need money, right? Wrong. But, you need an extensive business plan. Nope. You need a retail store, an office, a professional space. Probably not. Whatever the reasons, you’re probably talking yourself out of it rather than being thoughtful and careful. There are no limits on who can become a great entrepreneur. You don’t necessarily need a college degree, a bunch of money in the bank or even business experience to start something that could become the next major success. However, what you do need is a strong plan and the drive to see it through. —Entrepreneur.com While thoughtful and careful are good qualities, you need a healthy dose of impulse. In fact, almost every “roadblock” is merely you making an excuse. It’s no more complicated than you making it more complicated. 4 Simple Steps to Start a Business In reality, there are very few steps to start a business. With all the technology at your disposal and a little can-do attitude, it’s entirely possible. All you need is to do the following: Do a bit of research (but not too much). Learn about the product or service and its industry. You don’t need to become an academic expert. Research enough to get acquainted and feel more confident. Although, there’s a point of diminishing returns. If you keep going, you’ll eventually become overwhelmed. In other words, don’t get stuck in the paralysis of analysis or you’ll never actually get started. Test it out in a few different ways first. Whatever it is, test it out and don’t expect to charge — at least in the very beginning. Instead, ask for feedback and listen carefully. Others will give you invaluable input and that’s more valuable than money when starting out. (Now, if someone is willing to pay, give them a nice discount.) Start spreading the word, far and wide. Use social media, your family, your circle of friends, and acquaintances to spread the word. But, don’t hard sell. Just let people know about it. Make changes as you go and learn along the way. More than likely, you won’t hit the ball out of the park at first. You’ll need to make changes as you go. Be flexible and you’ll enjoy the ride a whole lot more. What other advice would you give to people who want to start a business? What motivated you? Please share your experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Feeling Overwhelmed by Your Small Business? Why Not Ask a Friend for a Favor. Here’s How.

May 19, 2023 No Comments

As a small business owner, you’re used to being busy. You’re always juggling multiple tasks, and it can be hard to keep up. Sometimes, you may feel so overwhelmed that you don’t know where to start. If you’re feeling this way, don’t be afraid to ask your friends for help. How Small Business Owners Can Ask Their Friends for Help Your friends are there for you and want to see you succeed. They may be able to help you with a variety of tasks, from doing routine things, like answering emails to running errands. So, here are three effective tips on how to ask your friends for favors: Be specific. When you ask your friends for help, be as specific as possible about what you need. This will help them understand what you’re asking and make it easier for them to say yes. For example, instead of asking your friend “Can you help me out?”, try asking “Can you please pick up some supplies for me at the store?” Be grateful. When your friends do help you out, be sure to thank them profusely. A simple “Thank you so much for your help!” can go a long way. It’s also a good idea to offer to return the favor in some way. Don’t take advantage. It’s important to remember that your friends are doing you a favor, so don’t take advantage of their kindness. If you find yourself asking them for too much help, it’s time to start looking for other ways to get the job done and bring on more or more new employees. Asking your friends for help can be a great way to relieve some of the stress of running a small business. By following these tips, you can make sure that your requests are well-received and that your friends are happy to help. More Tips Entrepreneurs Can Use to Ask for Help A good percentage of entrepreneurs would much rather rely on themselves than anyone else. So, this makes asking for help difficult. But, if the above advice doesn’t appeal to you, there are also some additional tips for asking friends for favors: Choose the right friend for the job. Not all of your friends are created equal. Some friends are better at certain tasks than others. For example, if you need help with a marketing project, you might ask a friend who has experience in marketing. Be flexible. If your friend can’t help you with the exact task you’re asking for, see if they can help you with something else. For instance, if you need help with a marketing project, but your friend is busy, they might be able to help you with some administrative tasks. Be patient. It may take your friend some time to get back to you. They may have other commitments, or they may simply need some time to think about your request. Be appreciative. Again, when your friend does help you out, be sure to thank them. A simple and sincere “Thank you!” can go a very long way. By following these tips, you can make sure that asking your friends for favors is a positive experience for everyone involved. By the way, do you have anything to add to these suggestions? If you have your own thoughts and experiences, please feel free to leave a comment so others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer.