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Business Education

Trump Clinton Obama Spying Teach a Great Business Lesson

If you follow the latest news, you no doubt know there’s a lot of allegations about spying. And, you’ve definitely heard the word “collusion” all-too-many times. It’s post-election politicking at its worst (or best, depending on your perspective). Anonymous sources are spilling the proverbial beans day in and day out. Regardless of your take, all of this does teach a solid business lesson, you just have to look past the ugliness. That lesson is how to protect company secrets, particularly when employees depart.

How to Protect Company Secrets after Employees Leave

One of the best measures is to get to know all your team members so you can keep them happy. You might learn it’s time to transform your company’s culture or take other steps to improve the environment. The more involved you are with your employees, the better able you are to deal with problems before they arise or before they become overwhelming. This way, if you have a new hire who is willing to share information about a previous employer, you’ll know that’s a possibility when he or she leaves.

Ever wonder why generic forms of cola never seem to taste quite like the taste made famous by Coca-Cola brand? Or why nothing quite measures up to the “special sauce” in a McDonald’s Big Mac? It’s not for lack of effort by way of competitors, but instead, a careful product of some of the best-kept industry secrets. While many industries basically work to reproduce the same type of product in different forms, what helps a company distinguish itself from its competitors, gain notoriety, and keep a competitive edge is the little known inner workings that make their products or services stand out from the pack. —Business.com

It’s also a great idea to get to know your team members because then you can learn about them as individuals. This is a wonderful way to know what rewards are most appreciated. And, content employees are typically more loyal. On the other hand, employees who are kept at arm’s length tend to be more disgruntled. According to a Ponemon Institute study, 61 percent of unhappy team members steal company information. But there are other steps you can take to protect company secrets, even after employees leave your organization:

Set expectations. “It’s better to be safe than sorry,” the old adage warns. And, this is true when it comes to keeping company secrets. You have to ask yourself about what’s most valuable to your business and that’s what needs top priority protection. This starts by setting expectations and keeping employees informed about company confidentiality policies. If necessary, have employees sign non-disclosures so they are less tempted to share secrets.
Utilize technology. In today’s modern technological environment, there are plenty of tools at your disposal. Use them to your advantage so there’s less access or blocked access where it’s appropriate. For instance, if you are developing a new tool, salespeople should not have access to the plans but designers should. Put technology to work where needed and that will help to minimize potential risk.
Monitor employees. You can also use technology beyond controlling access. Monitoring employees can be a treasure trove and provide much appreciated relief. For example, if a team member is about to leave and is actively interviewing with other companies, monitoring their digital activity might be worthwhile.
Cut off access quickly. Although it’s not pleasant to think about, when an employee departs, unless it’s on truly amicable terms, there’s a risk something that could go with them, carried right out the door. So, be sure to terminate access right away to remain safe.

How do you keep trade secrets? What steps do you take to protect company secrets? Please share your thoughts and experiences by leaving a comment!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

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How to Set Performance Baselines for Quarterly Employee Evaluations for the Year Ahead

January 3, 2024 No Comments

How to Set Performance Baselines for Quarterly Employee Evaluations for the Year Ahead We all know the drill: the calendar year flips, dreams are dreamt, and then you’re face-to-face with the annual performance review behemoth. And while quarterly check-ins might feel like another item on the ever-growing to-do list, they’re actually your secret weapon for keeping everyone – you and your team – motivated, on track, and slaying those business goals. But the key to making these quarterly chats sing? Setting clear, impactful baselines that guide the way. Setting Realistic Expectations but With Confidence Let’s ditch the dry performance review templates and talk real – real goals, real progress, and real conversations that ignite your team’s potential. Buckle up, friends, because we’re diving deep into the world of crafting practical and persuasive baselines for your quarterly employee evaluations, all with a healthy dose of small business swagger. Now, let’s get into the nitty gritty and go step-by-step on how to set performance baselines for quarterly employee evaluations: Step 1: Big Picture Vision, Microscopic Focus Before we zoom in on individual roles, let’s paint the bigger picture. Where do you see your business soaring this year? Define your key company goals, the ones that make your entrepreneurial heart skip a beat. Think of increased revenue, expanded product lines, or dominating that local market share. Get specific, dream big, and write these down – they’ll be your North Star throughout the year. Step 2: Deconstructing Dreams into Doable Deeds Now, let’s break down those dreamy company goals into bite-sized chunks for each quarter. Think of them as the stepping stones on your path to success. What measurable milestones need to be reached each quarter for your vision to unfold? And, as always, be SMART about it – Specific, Measurable, Achievable, Relevant, and Time-bound. Don’t overwhelm your team with a Mount Everest of tasks; focus on the key metrics that drive progress. Step 3: Mapping Personal Paths to Collective Triumph Here’s where the magic happens! Align individual roles with those quarterly company goals. What specific contributions can each team member make to hit those milestones? Tailor these individual baselines to each role’s strengths and responsibilities. Think sales targets for your star hustler, conversion rate improvements for your marketing whiz, and customer satisfaction benchmarks for your service champion. Remember, these baselines should be challenging yet achievable, sparking that “I got this!” feeling in your team. Step 4: Metrics that Matter (and Don’t) Numbers talk, but not all those figures sing. Choose metrics that truly reflect individual and collective progress toward your goals. Sales figures are great, but what about customer retention rates or lead generation efforts? Don’t get bogged down in vanity metrics that look good on paper but don’t tell the whole story. Focus on the data that drives actual impact and motivates your team to go the extra mile. Step 5: Communication is King (or Queen, or Both!) Open and honest communication is the engine that fuels high-performing teams. Share your company goals and individual baselines with your team in a clear, transparent way. Get them involved in the process, gather their feedback, and make sure everyone feels like they’re rowing in the same direction. Remember, these baselines aren’t meant to be shackles, but stepping stones – a roadmap for collaborative success. Step 6: Check-Ins, Tweaks, and Cheers! Quarterly reviews aren’t just about checking boxes; they’re opportunities for growth, celebration, and course correction. Use these check-ins to gauge progress, adjust baselines if needed, and offer actionable feedback that empowers your team to reach their full potential. And don’t forget the high fives and virtual confetti showers! Recognizing achievements motivates continued excellence and keeps the fire burning bright. How It All Wraps Up Setting quarterly baselines takes effort, yes, but the rewards are immense. You’ll see increased employee engagement, boosted morale, and a laser-sharp focus on achieving your shared vision. So, ditch the performance review dread and embrace these baselines as the springboard to your small business success story. Remember, you’ve got this – and your awesome team by your side! 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.

2 Strong Signs You’re Actually Successful, Even if You don’t Believe It

October 21, 2018 No Comments

What does success look like? More particularly, what does success feel like? These are, of course, quite objective. But, there are some signs you’re successful, even if you don’t particularly believe it yourself. It’s always worthwhile to take stake in where you stand — especially when you feel as though it’s less than inspiring. 2 Strong Signs You’re Actually Successful, Even if You don’t Believe It Aside from the hard numbers, how do you know you’re successful? Sure, you can always look at the books and see the bottom line. However, these figures don’t tell the whole story. One such example is when you feel comfortable that you can’t change everything but do change what you can. We’ve all experienced those days when we feel like an absolute failure. It’s a normal feeling when things don’t go as exactly planned. And, when we feel like that, it’s challenging to think of yourself as a successful individual. Here’s the thing about success though – no one can agree what that word means. Even though we all have our own definitions of success, there are also a number of signs that we’re overlooking that can let us know that we’re actually more successful than we could have ever guessed. —Inc.com Or, if you don’t feel stressed out at every bump in the road. People who aren’t struggling just don’t usually sweat the small stuff. It’s really that simple. When you’re making it, little setbacks are regarded as valuable lessons and not nightmare scenarios. Top 3 Signs You’re Making It, Even if it Doesn’t Feel that Way Now, if those don’t apply to you, let’s take a look at a few more telltale signs you’re actually making it — even if it doesn’t quite feel that way: You see the bigger picture. When your focus is large in scope, you are able to think more clearly. Which means you look into the future instead of fretting on every little component in the now. In other words, you’re more comfortable with the bumps along the way because you know it’s just part of getting to the next goal. You feel excited to keep at it. If a person feels excited to keep on with their role, there’s definitely a reason for that. Fulfillment is a sure sign that you’re successful. Otherwise, you’d feel quite different, more pessimistic and gloomy. And, you most assuredly wouldn’t feel energized or enthusiastic about your role. You look forward to the next challenge. Another sign you’re successful is you’re looking forward to the next big challenge in the future. After all, you’ve had to achieved a level of success in order to get to this point. In other words, you’ve had to racked up some successes in the past because there’s still more to go. What other signs of success do you think go unnoticed? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

I Found Out an Employee has been Doing Something Unethical but Not Illegal – Now What?

August 12, 2022 No Comments

First, this has to stop right away. And second, it has to stop because you definitely don’t want this type of practice to be representative of your business – even if it is somehow benefiting your customers. (For example, cheating a manufacturer’s rebate.) Even if it’s small, the very fact that your employee has to do something that isn’t ethical makes it wrong. You already know this, which is precisely why it bothers you in the first place. Regardless, it can be very tempting to let certain instances slide. But, you must think about the possible consequences and repercussions should this go bad. So, let’s get into a few suggestions for what to do when you discover an employee is doing something unethical but no illegal. Ethics and the Law There’s no question that just because an act isn’t ethical doesn’t mean it’s necessarily illegal. After all, the law doesn’t deal strictly with morality. (Although a lot of laws are indeed based on standards of decent behavior.) Notwithstanding, you instinctively know when a practice isn’t ethical and just because there isn’t a direct on-point law, that doesn’t mean it’s all right. The experts in leadership and management at Michigan State University emphasize that it’s important to consider who is involved with the situation when dealing with unethical behavior in the workplace. Is it just one person involved or are there several people connected to act? —Houston Chronicle Business Management However, there could be illegality. What might seem to be mostly harmless could be against the law. Obviously, this is exactly what you should know. Take the time to research the subject and find out if there are legal issues – be they criminal, civil, or possibly, both. How to Deal with Unethical Employee Behavior If you learn that what’s going on isn’t illegal but is still unethical, you have some options. Unfortunately, none of them are particularly pleasant. But, your business’ integrity could well be at stake. Here are a few ways to deal with unethical employee behavior: Arm yourself with facts. Before you act on the issue, be sure to have all the facts at your disposal. If necessary, write them down to become familiar. You’ll undoubtedly have to confront this employee and he or she will probably have at least a few justifications and/or excuses. So, be ready to counter and push back with the facts. Talk with your employee. Speak with your employee and your HR leader. If your company doesn’t have such a department, just speak with him or her one-on-one. Be polite but firm. And, listen to what he or she has to say. They’re likely justifying their actions and it might be something that’s easily fixed. Establish a new company policy. You may have to establish an entirely new company policy. Or, make adjustments to an existing one. Regardless, be sure that every single employee knows so this doesn’t continue. What other suggestions do you have for dealing with this type of situation? Please share your thoughts and experiences so that others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group.