Business Education

If You’re Too Nice, You’ll Hurt Your Business, Here’s Why

Just be nice. You’ve heard it from your mother. You heard it in kindergarten (and through school). It’s on tee-shirts and bumper stickers. And, it’s good advice, for the most part. But, it’s a recipe for disaster when it’s always your default disposition. Sure, you should be nice to people as it’s the polite thing to do. But, being too nice will cause all kinds of unintentional issues. Read on to see why.

How Assertiveness can Hurt You

On the flip side, being too assertive can also be quite harmful. Don’t get the wrong impression. You do need to be assertive, just at the right “temperature.” If you are too assertive, you’ll come across as overbearing. And, downright mean, in some situations. People also might think you too coarse and possibly aloof or antipathetic.

Leaders are placed under a tremendous amount of pressure to be relatable, human and … nice. Many yield to this instinct, because it feels much easier to be liked. Few people want to be the bad guy. But leaders are also expected to make the tough decisions that serve the company or the team’s best interests. Being too nice can be lazy, inefficient, irresponsible, and harmful to individuals and the organization. —Havard Business Review

Assertiveness can also be taken as overly self-serving. Basically, it’s an attitude that can easily come across the wrong way in more ways than one. Although, assertiveness does have a purpose and when it’s used strategically, it’s highly effective. That’s because striking a balance gives you the best of both worlds and a positive perspective. Which ultimately helps you to see things more clearly and make better decisions.

Top Ways being Too Nice is Harmful

Conversely, being too nice, is at best, problematic. It creates illusions that simply can’t be sustained. In essence, it’s a false impression, even if you’re being genuine. How? Well, here’s how being too nice is harmful in business:

You project weakness. When you’re overly nice, you’re perceived as a pushover. It’s that simple. People who have this impression will try to take advantage, when and where they can. And, that sets-up a bad scenario.
You attract the wrong people. Another problem with being too nice is that it does attract the wrong sort of people. Some others will take this as a green light to burden you with their own problems. Which means, you’re inviting unnecessary stress and drama into your life.
People might feel distrustful. Niceness can bring out negative feelings in others you interact with. For instance, someone could sense you’re actually concealing your true feelings and merely putting up a front. So, they manifest a sense of distrustfulness.
You bias your own expectations. When you’re constantly nice, you might make others feel better. But, you’re also inadvertently warping your own expectations, thinking everyone else should treat you the same.

How do you balance being courteous and polite with also being assertive? What other advice would you offer? Please share your thoughts and experiences!

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

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Tired of New Employees Abruptly Quitting? Here’s a Novel Solution for Recouping Your Training Costs

November 4, 2022 No Comments

One of the most costly and infuriating aspects of running a business is training new employees only to have them up and abruptly quit. It takes a lot of time, effort, and extra expense to onboard new hires and get them familiar with practices and procedures. When they depart shortly after their training, it means having to fill that position all over again. Since this is such a huge hassle and a costly one at that, some companies are actually billing employees who quit. The strategy is to ensure new employees don’t receive critical industry training only to leave and use their new skills at a competitor paying higher wages and/or offering more enticing benefits packages. Companies Recovering Employee Training Costs through TRAPs Healthcare, retail, trucking, beauty, and more companies are adopting a new approach in order to reduce their workforce losses. Known as Training Repayment Agreement Provisions or TRAPs, these clauses are included in employee contracts. Nearly 10% of all American companies are now using these provisions, according to a recent report by Reuters News. When a valued employee quits, the loss can have a detrimental effect on the person’s team and department and maybe even on the entire company. Not only can an unexpected departure lead to lost revenue, but it also could lower the morale and productivity of remaining employees. —Society for Human Resource Management Other industries may follow this emerging trend if it proves successful and legal. There are already federal and state government agencies looking into the practice, and it appears to be legitimate. If it continues to grow in popularity, it should be not only a big benefit to businesses but to employees as well, as both parties will know precisely what’s expected of them and how to proceed accordingly. How to Use Employee Training Repayment Agreement Provisions Because this is somewhat new, it’s very important to take thoughtful, measured steps in order to implement such a practice. Here are some suggestions for how to use an employee training repayment agreement provision in your business: Consult a labor law attorney. The very first thing you should do is to speak with a lawyer who specializes in labor law in your state. Even if a future employee willingly signs such an agreement, there may be something on the books that does not allow you to enforce such a provision. So, be crystal clear it is legal and actionable in your state. Speak with your human resources department. Obviously if you are able to include an employee training repayment agreement provision in your hiring contracts, you’ll need to get the right people in your organization on board and in the know. You can help to develop a new section in your training process that discloses and advises potential hires and new team member about this provision. Make sure new hires are made fully aware of the provision. When you’re recruiting someone new to your organization, be sure this is made abundantly clear before you proceed with follow-up interviews and probably before the very first, initial interview. Any job candidate should be made aware of this provision well before you get deep into the hiring process. Include a mechanism to recoup new employee training costs. Of course, you’ll need a way to actually recoup those training costs. So, if you offer a sign-on bonus, that may be one way to recapture the expense. Here again, you’ll need to consult an experienced, licensed labor law attorney in your state to establish a recuperation mechanism for the provision. What else would you suggest business owners do to deal with new hires who quit shortly after being brought on? Please share your thoughts and experiences so others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Is Your Business Charging Enough for its Products and Services? Probably Not. Here’s Why…

September 30, 2021 No Comments

“Sure, we lose money on every sale, but we make up for it on volume.” This witty saying is often repeated in the business world because it effectively demonstrates a fundamental flaw with a company’s operating model. But, like any really good bit of humor, it contains an undeniable truth. Plus, it is probably applicable to your own business in an abstract way. If you have ever wrestled with raising the prices you charge for your business’ goods and services, then now is a great time to resolve that issue. Why Businesses Don’t Raise their Prices Although large corporations and big companies do raise their prices fairly routinely, small business owners are averse to doing the same. It’s not because small business owners aren’t smart operators, it’s merely the fear of the possible repercussions. Perhaps the biggest objection is that maintaining lower prices attracts new customers and greatly influences repeat business. While this might be ostensibly true, it can’t exist in perpetuity. A major part of running a successful business is knowing at what price to value your services or products. Entrepreneurs and business owners must ensure a balance in price between costs and gains. While low prices are certainly an attractive selling point, a variety of factors can bring pressure to bear on your bottom line, necessitating a higher charge for your services. —Forbes.com Another reason small businesses don’t raise their prices is that they’ve become so accustomed to their charging schedule. Though it sounds like a cop-out, it’s just the comfort of complacency that allows them to dismiss the notion of increasing their prices. Then, there are the logistical factors that come into play, which is particularly true in retail, where items must be individually updated, along with point of sale systems. Three Compelling Reasons Businesses should Charge More Even though most small business owners would gladly welcome a pay bump in their bottom line, they avoid increasing what they charge because they fear it will result in a loss of customers. However, this only looks at one side of the equation. Here are three compelling reasons why businesses should charge more for their products and services: There model is outdated. It’s a real accomplishment to stay in business for years on end. Everyone knows the statistics, that a high percentage of businesses fail in the first two to three years. But thereafter, they become not only viable but probably profitable enough to sustain a few sets of disruptive circumstances. Since business owners always experience ups and downs, they find a great deal of unconscious comfort in their pricing models that they established at the outset. But, as years go by, prices should go up incrementally to keep up with the times. There’s a lack of other service providers. The very fact that so many businesses fail, compounded by the shutdowns resulting from the global pandemic, means there are likely fewer service providers around right now. This represents a prime opportunity to market more aggressively, raise your prices, and build out quality staff. If you don’t, you’re missing a key moment that you’ll probably regret in the future. The cost of doing business just keeps rising. Of course, everything costs more now than it did just a short time ago. It’s not just the shortage of materials that the world is currently experiencing, but also other dynamics, such as inflation, the always rising costs of employee benefits, insurance, rent, and just about everything else associated with the cost of doing business is going up. What other reasons warrant raising prices? Please take a few minutes to share your thoughts and experiences so others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Business Owners, it’s Time to Stop using Covid as an Excuse

May 14, 2022 No Comments

Covid isn’t over. In fact, the virus is probably here to stay for a long, long time, perhaps forever as endemic. But, the worst is likely well behind us. However, some small business owners are using the pandemic as an excuse and customers aren’t buying it. This is because consumers are well aware of what’s really going on and do not take kindly to such unbelievable explanations. So, it’s time for small business owners to stop using Covid as an excuse. Now, let’s take a look at why it’s so damaging. Excuses are Bad for Business Small business owners have a lot on their plate. They are responsible for wearing many hats and often have to do everything themselves. This can lead to some owners making excuses to their customers when things don’t go as planned. While it may be tempting to do this, it’s important to remember that there are many consequences for doing so. This is because there are compelling reasons why small business owners should never make excuses to their customers. Business experts wince at pandemic excuses because, well, they’re excuses, which are not the bailiwick of successful entrepreneurs—who are, by definition, problem solvers. Although tossing off a Covid excuse may seem benign, it creates a messaging problem because it’s likely deceitful: Customers are now savvy to the fact that supply chain, safety, and staffing challenges are well-established market conditions—not sudden pandemic blows. —Bloomberg Business Remember, customers will accept difficulties for what they are. They understand some situations are simply beyond a small business’ control. But, when others in the industry are moving forward, meeting their customers’ needs, it becomes dangerous for entrepreneurs to make excuses. Why Small Business Owners Shouldn’t make Excuses to their Customers Covid has become the proverbial “dog ate the homework” excuse. Sure, it is possible, but it’s also growingly becoming improbable. In other words, sure, the pandemic and shutdown may have lingering effects. But, to apply it capriciously is just a bad business practice. Some of the reasons why small business owners should never make excuses to their customers include: It harms credibility. When a small business owner makes an excuse to a customer, they are essentially saying that they are not capable of handling the situation. This can cause the customer to lose faith in the small business and may never use their services again. Businesses can suffer a bad name. If a small business is known for making excuses to their customers, it will not be long before word gets out. Customers will start to avoid doing business with them because they know that they will not be able to count on them to deliver what they promise. It makes owners appear ineffective. When a small business owner makes excuses to their customers, it makes them look like they are not in control of their business. This can lead to the customer questioning the owner’s ability to run their business and may cause them to take their business elsewhere. Customers may never return. If a small business owner regularly makes excuses to their customers, it is only a matter of time before they start losing them. Once a customer has had enough of being lied to, they will take their business to competitors who deliver and may never come back. As you can see, there are many reasons why small business owners should never make excuses to their customers. While it may be tempting to do so in the moment, it is important to remember that the consequences can be very severe. If you are a small business owner, do your best to always be honest with your customers and never make excuses for your mistakes. Your business will be better off in the long run. Do you have any tips for small business owners on how to avoid making excuses to their customers? Please, take a moment to share your thoughts and experiences so others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group.