Business Education

The T-Mobile-Sprint Merger Raises these Important Questions

The T-Mobile-Sprint merger is generating a plethora of headlines. Some think it’s a bad idea. Others believe it will provide certain benefits. Still others don’t see a clear winner. Regardless of where you stand, it does raise a few interesting questions. We all understand what a merger is — the combining of two entities into one. But, there’s a lot more to it than just this simple explanation. The truth is, there are distinct advantages and disadvantages of merging two organizations.

Common Merger Disadvantages

Let’s begin with one of the most obvious pain points — employee morale. The reason two brands come together is to improve their performance. However, this often means the elimination of duplicate roles. And, rank-and-file employees instinctively know this fact. Another downside to merging is that it can create more debt. Teaming up means taking on the balance sheet obligations, which can easily become problematic.

…making changes to your business include the economic and political climate in which you operate. Determine whether tax or trade laws in your region are friendly toward the types of modifications you want to make. You may come to the conclusion that now is a good time to move forward with the desired alterations or you may elect to wait for circumstances to change in your favor. —Bix Fluent.com

Then, there’s another intangible — company cultures. One organization might operate with a completely different dynamic than the other. Which might manifest trouble when the two become one entity. Of course, merging means the essential elimination of the top decision maker. Instead, there are at least a few people on either side of the aisle.

Biggest Merger Advantages

Now, let’s take a look at the upsides of merging. The point of coming together is to improve the performance and ensure a better future for both companies. Here are the top merger advantages:

Improved efficiency. We’ve already partially mentioned this but here’s the other side of eliminating redundant positions — increased efficiency. A merger can provide a new environment to improve efficiency on many levels.
New territories. When two companies come together, it’s likely that one (or both) parties will benefit from the introduction of new territories. It’s a way to tap into market share without undergoing the growing pains.
Cost-effective expansion. Speaking of growing pains, a merge creates an opportunity to expand without all the normal hassles. It allows for the identification of the best assets, which means increased productivity.
Multiple growth opportunities. Two previously competing businesses combined as one opens up a number of growth opportunities. Instead of working to beat one another, they now work in unison toward one or more goals.

What other consideration would you factor into such a decision? What experiences have you had in this scenario? Please feel free to share your thoughts by leaving a comment!

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

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How to Tell When a New Business Client is Lying to You

January 28, 2020 No Comments

We’ve all been betrayed in one way or another. Some situations are worse than others. But, all things being equal, it’s better to be safe than sorry. There’s an old saying in the real estate industry, “Buyers are liars.” (Although, this is true in just about any line of work, law, financial, retail, and countless others.) The point being, human nature is what it is and there’s just no way around it. Why It’s so Important to Avoid Liars Okay, you can probably think of a dozen reasons liars can be trouble. They cause feelings of betrayal, anger, resentment, regret, and basically a whole host of negatives. But, even if you’re able to get past the personal hurt, there’s the logistical fallout. The vast majority of customers are truthful. But the lying happens often enough to get under your skin. What’s more, deceitful customers pose a risk to your business. If they’re willing to lie to you, what does that say about their character? Would they also be willing to fabricate an errors-and-omissions claim for personal profit? —EOforLess.com Such consequences include but not limited to: being embarrassed by peers, trouble with client relations, upset in the workplace vis-à-vis team members, and plenty more circumstances. Plus, just a single lie can hurt your bottom line in a serious way. How to Tell When a New Business Client is Lying to You So, how do you spot a lie before it causes all sorts of trouble in your business? Well, it isn’t easy, there’s no question about it. But, there are some ways to tell when a client is lying to you, like the following: It sounds too good to be true. Okay, this is probably cliché’ but it’s nevertheless true. When someone tells you something that sounds too good to be true, it more than likely isn’t true. What’s most problematic is that in the moment, it’s easy to fall for. Their social media is a red flag. Some con artists make their lives to look out-of-this-world, luxurious and exciting. Others have absolutely no social media presence at all. In either case, it can tip you off to someone who is trying to hide something because there’s no information at all. Or, a person who is trying to fool everyone else by making their life look irresistibly envious. There’s difficulty answering simple questions. Here’s another bit of advice you’ll hear from experts on the subject of lying — the fibbers might have a lot of trouble with answering simple questions. (Conversely, when there’s inconsistent but a lot of detail, that’s also a telltale sign.) His or her past tells a completely different story. If you have a bad feeling, listen to your inner voice and get a bit of background from people in his or her past (if possible). Just asking a few key questions can tell you a lot, a whole lot. What other advice do you have to offer through your experiences? Please comment and let others know! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Entrepreneurs, Avoid these Passive-Aggressive Phrases

January 5, 2023 No Comments

Passive aggression is a common behavior in the workplace, but it can be damaging to both individual and team performance. Such behavior is characterized by the expression of negative feelings indirectly, rather than openly and honestly. This can take the form of indirect or sarcastic comments, procrastination, or the refusal to communicate or cooperate. How Passive-Aggressiveness Hurts Businesses of All Sizes On a personal level, passive aggression can lead to increased stress, conflicts with coworkers, and a negative work environment. It can also damage personal relationships and lead to a lack of trust within a team. From a business perspective, passive aggression can have serious consequences. It can lead to decreased productivity, missed deadlines, and a decline in the quality of work. It can also create a toxic work culture and lead to high turnover rates. Passive-aggressive behavior is frustrating for both parties involved. It’s unproductive and it makes you and others become less trusted in the workplace. —Entrepreneur.com Furthermore, passive aggression can lead to misunderstandings and communication breakdowns, which can have a negative impact on customer satisfaction and the overall success of the company. In order to create a healthy and productive work environment, it’s important to address and resolve conflicts directly and earnestly. This means being open and honest about your feelings and needs, and being willing to listen to and consider the perspectives of others. By addressing issues freely, you can improve communication, strengthen relationships, and ultimately, benefit the success of the business. Passive-Aggressive Phrases Business Owners and Managers shouldn’t Say According to various speech experts, there are certain phrases that can irritate people and should be avoided in order to maintain healthy communication in relationships. These phrases, which are known as passive-aggressive language, often involve an indirect expression of anger or resentment. With this in mind, let’s take a look at a few examples of passive-aggressive phrases to avoid: “I’m fine.” This phrase is often used to mask negative emotions and can come across as insincere or dismissive. Instead, try expressing your true feelings in a respectful but honest way. “Whatever you want.” This phrase can make it seem like you don’t care about the other person’s feelings or opinions. It’s important to show that you value their input and are willing to consider their perspective. “I was just kidding.” This phrase can be used to brush off hurtful comments or actions, but it’s important to recognize when your words or actions have caused harm and take responsibility for them. “It’s not a big deal.” This phrase can minimize the other person’s feelings and make it seem like their concerns are not important. Instead, try acknowledging their feelings and working together to find a solution. “I’m sorry you feel that way.”This phrase places the blame on the other person’s emotions rather than taking responsibility for your own actions. It’s important to apologize for your own behavior and make an effort to make things right. Fortunately, this means that you can improve communication and strengthen your relationships by being aware of these phrases and avoiding them. Obviously, this isn’t a comprehensive list. If you have any other phrases business owners and managers should avoid, please take a moment to comment and share your own personal thoughts and experiences! Are you interested in learning more about business? Then just visit Waters Business Consulting Group.

How Business Owners Can Effectively Deal with Loud Quitting

December 1, 2023 No Comments

How Business Owners Can Effectively Deal with Loud Quitting In the extremely fast-paced world of small business, a unique and often frustrating trend has emerged that’s a disturbing sequel to Quiet Quitting known as “Loud Quitting.” This phenomenon refers to employees who depart from their positions in a manner that disrupts the workplace, creating tension and negatively impacting team morale. As a small business owner, dealing with loud quitting can be challenging, but it’s crucial to address the issue head-on to maintain a healthy work environment. Understanding Loud Quitting Loud quitting can manifest in various ways, from confrontational resignations and public outbursts to passive-aggressive behavior during the notice period. It often stems from dissatisfaction, stress, or a lack of communication within the workplace. Identifying the root causes is the first step in effectively dealing with this disruptive trend. The trend began to gain traction earlier this year and reached a peak during mid to late summer. Since then, it’s not particularly been as widespread but with the end of the year fast approaching and 2024 right around the corner, the lasting impressions of The Great Resignation could very well spark another robust round of bold employee departures. So, it’s best to be prepared rather than just hope it won’t happen again. The Impact on Business Loud quitting can have far-reaching consequences for a small business. It not only disrupts the daily workflow but also has the potential to harm the company’s reputation both internally and externally. A toxic work environment resulting from loud quitting can contribute to decreased employee morale, increased turnover, and difficulties in attracting new talent. Tips for Dealing with Loud Quitting Fortunately, there are ways companies of all sizes can prepare and deal with this behavior – either to prevent it from manifesting or to minimize its impact when it does occur. Here are some effective strategies for dealing with loud quitting you can use: 1. Foster Open Communication Encourage a culture of open communication within your workplace. Regularly check in with employees to understand their concerns and address any issues promptly. Providing channels for feedback can help employees feel heard and prevent dissatisfaction from escalating to the point of a loud departure. 2. Implement Exit Interviews Conducting exit interviews can provide valuable insights into the reasons behind an employee’s departure. This process allows departing employees to express their thoughts, helping you identify patterns or areas for improvement within the organization. 3. Set Clear Expectations Clearly communicate expectations regarding behavior, performance, and workplace conduct from the outset. Having a comprehensive employee handbook and conducting orientation sessions can ensure that all team members are on the same page, reducing the likelihood of disruptive exits. 4. Provide Adequate Support Ensure that employees feel supported in their roles. This includes offering professional development opportunities, recognizing achievements, and addressing concerns promptly. A well-supported team is less likely to resort to loud quitting as a means of expressing dissatisfaction. 5. Create a Positive Workplace Culture Foster a positive workplace culture that values teamwork, respect, and collaboration. Recognize and celebrate achievements, and promote a healthy work-life balance. Employees who feel valued and connected to the workplace are less likely to engage in disruptive behavior upon leaving. 6. Develop a Comprehensive Offboarding Process Implementing a thoughtful offboarding process can help manage the departure of employees more smoothly. Provide clear guidelines for the notice period, ensure a thorough handover of responsibilities, and maintain professionalism throughout the transition. 7. Address Issues Proactively If you notice signs of dissatisfaction or tension among employees, address these issues proactively. Ignoring or downplaying concerns can contribute to an environment where loud quitting becomes more prevalent. Summing All of It Up Dealing with loud quitting requires a proactive and strategic approach from business owners. By understanding the root causes, fostering open communication, and implementing supportive practices, you can curb this obnoxious trend and create a healthier, more positive work environment. Small business success hinges on the strength of its team and maintaining a cohesive and productive workplace. Remember, a happy and engaged team is more likely to contribute to the long-term success of your business. If you want to grow your company in 2024 but you are not sure what is required to make that growth happen? Attend our “Planning for Growth” half-day workshop where you will get amazing details specific to your business for what’s needed from your marketing, your sales team, your production team, and your financial performance to enter 2024 with confidence you can indeed grow as planned. You will have the clarity you’ve always wanted but didn’t know how to create. Contact us for dates and times. We GUARANTEE that you will leave this workshop knowing exactly what to do to grow, profit and cash flow your company like you always dreamed you could. Contact us by phone or email! By phone 602-435-5474 By email: SteveM@WatersBusinessConsulting.com Don’t wait! This is a great opportunity to propel your business into 2024!