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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Best Ways to Manage Your Time and Energy

May 24, 2017 No Comments

Building a business isn’t easy and it requires a lot of time and energy to be successful. For the majority of entrepreneurs, challenges are met by putting in long hours and trying to be more productive. However, this leaves little time for family and friends, exercise, and hobbies. While it’s generally accepted as just part of the cost of doing business, eventually, a hectic schedule and overdrive pace will take its toll. This can lead to health issues, deteriorating relationships, and personal dissatisfaction. You might also come to despise your own creation and view it as a curse, rather than a blessing. Best Ways to Manage Your Time and Energy If your business is an energy drain, it will do more damage than just make you tired. It will also cause you to make decisions that aren’t necessary in your best interest or your employees’. You’ll probably begin to rationalize assigning certain responsibilities to different team members, it won’t necessary be for the good of the company, but rather, just to give you a break. That’s not a good practice and will lead to even more poor decisions. The core problem with working longer hours is that time is a finite resource. Energy is a different story. Defined in physics as the capacity to work, energy comes from four main wellsprings in human beings: the body, emotions, mind, and spirit. In each, energy can be systematically expanded and regularly renewed by establishing specific rituals—behaviors that are intentionally practiced and precisely scheduled, with the goal of making them unconscious and automatic as quickly as possible. —Harvard Business Review If you feel tired, unenthusiastic, and generally uninterested, it’s because this very phenomenon is happening to you, and, it’s time to realize its unhealthy impact and do something about it. Your energy, like your time, as the nearby quote states, is finite. Both must be managed in order for you to be productive and content. If you’re not productive and content, then, you’re sabotaging your own company, and doing your employees and customers a disservice. The best way to manage your energy is to manage your time and here are some ways you can improve your time management skills: Create useful lists. One reason people tire is they are hand-wringing over what needs to be done and that often wastes enough time to cause them to rush. When you write down a list, you have a clear, actionable plan. Prioritize your lists and entries to ensure that you have ample time for what’s most important. This might take some time to master, but, eventually, you’ll become more organized and discover how much time was wasted when you didn’t have lists to follow. Minimize company meetings. The not-so-subtle truth about meetings is nothing actually gets done. Okay, so you lay out a course of action, or, come-up with a strategy, but, you don’t execute during meetings — you execute after them. So, keep company meetings to a minimum to increase productivity. Take advantage of waiting times. You wait in traffic, you wait at the doctor’s office, you wait, you wait, you wait here and there. What’s more, you’re fully aware of the fact that waiting means time is being wasted. So, make it productive. These are great times to go over or create to-do lists, write out a grocery list, reply to email, make a phone call, the possibilities go on and on. Stop trying to multitask. There’s a persistent myth that multitasking is a way to get more done in less time. However, when you multitask, you’re asking your body, mind, and senses to do something that isn’t natural. It’s counterproductive and conducive to making mistakes. Instead, focus on one thing at a time to do it right. Delegate responsibilities. Delegating doesn’t have to be a four-letter word. It’s part of being a good leader and giving others the power to unleash their own potential. It’s also a great way to avoid multitasking and get more done. When you accomplish something, be sure to reward yourself. Do so in a healthy, upbeat way and without excess. You’ll find that you enjoy what you do more and be more optimistic about the future. As you transition into 2016, knowing you have a finite amount of time to achieve your goals with the energy you have, what will you do different to better manage your time so that you remain energized, productive and get results? Want to find out about what a business coach can do for you? [shareaholic app=”follow_buttons” id=”26833294″]

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Thinking About Introducing Summer Fridays to Your Employees? Here’s What Small Business Owners Need to Know

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Summer Fridays are a type of alternate scheduling that allows employees to either leave the office early or take the day off at the end of the week. As the name suggests, these reduced hours occur during the summer months and apply only to Fridays. Obviously, team members appreciate the option and this policy can be beneficial to both employees as well as businesses. Just What are Summer Fridays? Again, workplace Summer Fridays refer to a flexible work policy where employees are granted reduced work hours or time off on Fridays, typically during the summer season. The specifics of Summer Fridays can vary depending on the company, but the most common approach is to allow employees to leave early or take the entire afternoon off after completing their required work hours for the week. Reasons to Incorporate Summer Fridays Summer Fridays are a popular perk that can be a great way to boost employee morale and productivity, but it’s important to carefully consider the pros and cons before implementing this practice in a small business. Here are the advantages companies can expect to gain: Increased employee morale and engagement. Offering Summer Fridays can boost employee morale, satisfaction, and motivation. Knowing they have extra time to enjoy summer activities or spend quality time with friends and family can increase overall happiness and job satisfaction. This, in turn, can enhance productivity and reduce burnout. Improved work-life balance. Small businesses often face challenges in maintaining a healthy work-life balance for their employees. Summer Fridays provide an opportunity for employees to recharge, reducing stress levels and preventing burnout. The increased flexibility can also allow employees to schedule personal appointments, attend children’s activities, or engage in hobbies, which can positively impact their well-being. Attraction and retention of top talent. In a competitive job market, small businesses may struggle to attract and retain skilled professionals. Implementing Summer Fridays can be an attractive perk for prospective employees, differentiating the company from competitors. Additionally, existing employees are more likely to stay with a company that values work-life balance and offers flexibility. And, last but certainly not least – increased productivity and focus. Shortened work hours can lead to increased productivity as employees strive to accomplish their tasks within a condensed timeframe. Knowing that they have limited hours available can encourage employees to prioritize their work, minimize distractions, and focus on completing their assignments more efficiently. Considerations Small Businesses Need to Take into Account Before Implementing Summer Fridays Of course, there are always some potential drawbacks or downsides that go along with just about any type of change, regardless of intention and promise. Here are some things small businesses need to consider about Summer Fridays: Impact on operations and client expectations. Before implementing Summer Fridays, small businesses need to consider the potential impact on their operations and client relationships. Adequate planning and communication should be in place to ensure that reduced work hours or the absence of key employees on Fridays do not disrupt workflow or negatively affect customer service. Scheduling and staffing challenges. Small businesses often operate with limited resources, and adjusting schedules to accommodate Summer Fridays may present staffing challenges. Careful consideration should be given to workload distribution, cross-training employees, or arranging for temporary help to ensure essential tasks are covered. Consistency and fairness. It is crucial to establish clear guidelines and policies for Summer Fridays to ensure consistency and fairness among employees. Setting expectations, defining eligibility criteria, and addressing potential conflicts can help avoid misunderstandings or negative feelings within the team. Communication and transparency. Effective communication is key when implementing any new policy. Clearly communicate the details, benefits, and expectations of Summer Fridays to employees. Openly address any concerns or questions and be transparent about how the policy aligns with the company’s goals and values. What else would you include in the pros and cons of instituting Summer Fridays that small businesses should know about? Please take a few moments to comment and share your thoughts and experiences so others can benefit from your unique perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer.

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