Business Education

Stop and Read This Right Now and Then, Quit Procrastinating

It’s nearing the end of another deadline. And, you’re too far behind to finish comfortably. The rush is on and time isn’t on your side. If only you’d started earlier.

You can’t afford to spend time reflecting. But, you can’t help but feel a strong sense of regret. How did this happen again? You’ve fallen victim to your own procrastination and you vow not to put yourself in this position ever again.

Top Reasons We Procrastinate

Everyone knows procrastination leads to trouble. So, why do we do it in the first place? What causes people, even the best of us, to procrastinate? Sometimes, it’s because we feel events are out of control and it leads to paralysis. Or, it could be due to a lack of energy.

On a neurological level, procrastination is not the slightest bit logical — it’s the result of the emotional part of your brain, your limbic system, strong-arming the reasonable, rational part of your brain, your prefrontal cortex. The logical part of your brain surrenders the moment you choose Facebook over work, or decide to binge another episode of House of Cards when you get home. But there’s a way you can give the logical side of your brain the upper hand.
—Harvard Business Review

Of course, perhaps the single biggest cause of procrastination are distractions. Having attention taken away from the task at-hand can really undermine productivity. Other times, it’s just feelings of sadness or depression.

Most Effective Ways to Deal with Procrastination

If it’s so common, just how does one beat procrastination? Fortunately, there are a few ways to deal with procrastination. First, recognize when you’re procrastinating to start. Then, do the following:

Commit to just one task. If you feel the urge to procrastinate, instead of doing nothing, do something, but something meaningful. Commit to just one task, even a small one that will give you a real sense of satisfaction and accomplishment.
Give yourself a reward. Another way to overcome procrastination is to promise yourself a reward. If you tackle the task you’re tempted to put off, you’ll give yourself an enjoyable reward. You’ll be amazed at how you’re able to buckle down and focus.
Act on things as they happen. Okay, so you might feel a bit intimidated by a particular type of task. That’s okay, deal with it by taking things in order, as they come. This way, you’ll build momentum. And, if it’s the first item on your plate, take comfort in the fact once it’s done, it’s out-of-the-way (at least, for the day).
Minimize distractions around you. Alright, this is obvious advice. But, it definitely warrants inclusion. Get rid of any (or as many) distractions as possible to help beat procrastination.

What other suggestions do you have to deal with procrastination? Please share your thoughts and experiences by commenting!

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

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Key Reasons Businesses Experience High Employee Turnover

November 18, 2021 No Comments

High employee turnover is practically normal in some industries. These are mostly entry-level positions, where people only stay for a short time. But, since the global pandemic outbreak and shutdowns, followed by the reopenings, more and more companies have experienced unusual amounts of employee turnover. Although it’s easy to simply blame this abnormality as the source of the problem, there are sometimes underlying issues. It’s just that these remarkably unusual sets of circumstances have finally brought those festering problems to the surface. High Employee Turnover Usually Underscores Underlying Issues High employee turnover may in fact highlight problems within the workplace and not be a reflection of the departing team members themselves. Put another way, it’s not the employees’ faults necessarily, but something in the way the business is run. This isn’t to say it’s always the corporation’s fault, as mentioned above, some industries experience high rates of employee turnover regularly. However, if you’re running a business that does not hire nearly exclusive entry-level workers, and people are quitting after short periods of time, there are probably some good reasons. Companies often thrive based on the talent provided by their employees. Yet, if a company is faced with frequent turnovers, the efficiency and effectiveness of business operations could suffer. Similarly, those companies that maintain a consistent workforce may be able to grow as a result of their employee base performing consistently. Understanding the causes and effects of turnover can help your company develop strategies and policies to increase the odds of keeping the staff members you value. —Houston Chronicle Small Business One of the most difficult things for owners and entrepreneurs alike to see and understand is where their businesses are falling short when it comes to their employees. Ensuring that employees are well taken care of is just as important as serving customers to the best of your abilities. Since employees are the very lifeblood of your business, they should not only be compensated fairly but treated as vital components of your company. 3 Key Reasons Businesses Experience High Employee Turnover Fortunately, high employee turnover usually comes as a result of at least one of three reasons. If any of these are persistent in your business, it’s probably what’s driving your employees to quit after very short tenures. Here are the most common reasons that businesses experience high employee turnover: Compensation. This is the most obvious and is definitely among the top reasons employees don’t stay with their companies. Unfortunately, this doesn’t just apply to hourly workers, but salaried personnel as well. Paying at the bottom of the industry will practically guarantee that new hires become disaffected in short amounts of time and abruptly quit. Paying at the mid to high level of the industry is one of the best ways to avoid this problem, but that might not be applicable to all situations. Businesses already paying well might also consider little perks and incentives outside of pay, such as extra time off, gifts for meeting goals, and other types of incentives. Management. There’s just about nothing worse than bad management. Even people who are compensated very well will not tolerate bad managers for very long. If management does not treat their staff with the respect and professional courtesy they deserve, individuals will simply find other places to go. Bad management not only drives people to leave but also causes them to perform poorly while they’re at the company. So, take a deep look at the management’s style and execution and make changes if necessary. Culture. Company or corporate culture is also a very important factor in employees staying put. Just like bad management, individuals will not tolerate a toxic culture for very long. Even if management treats them well and they are compensated near or at the top of the industry, toxic culture will eventually erode their loyalty and they will leave the company. Although this is one of the most difficult factors to identify, it is essential that businesses foster a positive company culture in order to get the highest level of camaraderie and productivity from employees. What other suggestions do you have for dealing with high employee turnover? Please take a moment to share your personal experiences and relevant thoughts — it could greatly benefit someone else! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Entrepreneurs Can Use These 5 Tricks to Fight Drowsy Days

September 14, 2017 No Comments

Everyone pushes through drowsy days. In fact, a study by the Centers for Disease Control and Prevention reveals 35 percent of adults ages 18 through 60 do not get the recommended 7 hours per night. That leads to a perpetual sense of tiredness. And, if this affects you, you know full well it’s not good for your productivity. But, if you’re unable to get a decent night’s sleep, you’ll need ways to cope to get through the workday. 5 Ways to Beat Drowsy Workdays There’s a lot you can stop doing to be successful in business. When it comes to sleep, you can also stop doing a few things. First and foremost, give yourself some tech-free time in the evening, particularly before you go to bed. About an hour before you go to sleep, turn off or silence your phone, tablet, laptop, desktop, and other devices. Also, get in a routine. Go to bed and wake up at the same time. We live in a fast-paced world where everything is quicker and more urgent. In leadership, in business, and in life, it seems we’re always behind: It needed to be done yesterday! It needs to be done now! Why isn’t it already done? Our days are hectic and our nights are busy. We constantly have to be on and available. Unsurprisingly, the side effects of this constant rush include an epidemic of fatigue. —Inc.com When you’re an entrepreneur, you work long, hard hours. And, it’s not easy to just relax and unwind at night when you have so much idle time. It’s natural to mull over the day and to plan ahead for tomorrow. But, you need a good night’s rest to be your best. However, you can’t let go and toss and turn through the night. Now, that familiar mid-afternoon 3 o’clock yawn grips you. What do you do? You need to make a good impression when you have a face-to-face meeting. Even if it’s just another day, without a big agenda, you might still need to fight fatigue. Here are a few helpful suggestions for beating those drowsy workdays: Leave your workspace. Being in the same environment for hours can easily lead to boredom (especially if you’re already tired). So, do yourself a favor and get outside. A walk around the block. A trip to the nearest mall for some quick window shopping. Just get out of the office for 15 or 20 minutes. Have a quick, healthy snack. Fruits, vegetables, and nuts are excellent sources of nutrition. And, some even help perk up your blood sugar levels. That’s enough to give you some more energy. It’s also a great way to counteract the effects of a big lunch that bogs you down. Do a little exercise. You don’t necessarily have to go outside to reinvigorate yourself (although it does really help). You can exercise right in your workspace. Do a few stretches and follow-up with some simple calisthenics. Tackle a few no-brainers. Tiredness can also be made worse by staying on a difficult task. One solution is to go with a few mundane chores. Take out the trash, clean the kitchen, organize your desk, anything that doesn’t require a lot of concentration will do the trick. Play some music. It’s a well-known fact that music stimulates the brain. And, it also impacts the body itself. So, put on some of your favorite tunes and get into the rhythm. Your attitude will quickly improve and you’ll feel reinvigorated. What do you do to power your way through a drowsy afternoon? What methods allow you to cope the best? Please share your thoughts and experiences by leaving a comment! Interested in learning more about business? Then just visit Waters Business Consulting Group. [shareaholic app=”follow_buttons” id=”26833294″]

Thinking About Rebranding Your Small Business? Here’s What You Really Need to Know

August 4, 2023 No Comments

After Elon Musk rebranded Twitter to X, the move probably got a lot of small business owners thinking. However, rebranding is a strategic decision that small businesses may contemplate as they evolve, adapt to market changes, or seek to revitalize their image. When done correctly, rebranding can breathe new life into a business, attract new customers, and strengthen brand loyalty. Although, it is a complex process that requires careful planning and consideration. What You Need to Know about Rebranding a Small Business With all that in mind, it’s very important to diligently explore what small businesses should consider when thinking about rebranding and examine the pros and cons of undertaking a rebranding initiative. Then, carefully and strategically think about different scenarios, and play out some strategies, while taking a few contingencies into account, too. Considerations for Rebranding a Small Business First and foremost, small businesses should clearly define the purpose of rebranding and set specific goals. Rebranding may be aimed at targeting a new audience, differentiating from competitors, updating an outdated image, or reflecting a change in the business’s mission. Ask yourself, what are your brand’s strengths and weaknesses? What do your customers know and love about your brand? It’s important to have a clear understanding of your current brand identity before you start rebranding. This will help you avoid making changes that will alienate your existing customers. Then, take some time to factor in and act on the following: Market research. Comprehensive market research is essential to understand customers’ perceptions, preferences, and pain points. This data will inform the rebranding strategy, ensuring it aligns with customer expectations and demands. Brand identity. Rebranding involves more than just changing a logo or name. It extends to the business’s values, personality, and overall identity. Small businesses must be prepared to redefine their brand essence. Competitive analysis. Evaluating competitors’ branding strategies can offer valuable insights. A successful rebrand should differentiate the business from competitors and communicate a unique value proposition. Customer feedback. Gathering feedback from existing customers can help identify areas for improvement and ascertain whether rebranding is necessary or well-received. Financial implications. Rebranding can be a costly undertaking, so it’s important to factor in the cost before you make a decision. There are a number of factors that will affect the cost of rebranding, including the size of your business, the scope of the rebrand, and the fees of the branding agency you work with. Rebranding can be a significant investment. Small businesses must carefully assess the financial impact and budget accordingly. Employee buy-in. Rebranding affects employees, and their support is crucial. Engage them early in the process, explain the reasons behind the rebrand, and involve them in shaping the new brand identity. Rebranding is a big decision for any business, but it can be especially daunting for small businesses. There are a lot of factors to consider, and it’s important to weigh the pros and cons carefully before making a decision. Pros of Rebranding a Small Business Now that we’ve gone through some of the basics, let’s go ahead and list the advantages of a rebrand. Of course, this isn’t an exhaustive list, but it includes the most pertinent. Here are the biggest benefits of rebranding a small business: Fresh impression. Rebranding presents an opportunity for a fresh start, allowing the business to shed any negative associations or outdated perceptions. Attracting new customers. A successful rebrand can attract new customers who may have overlooked the business previously. It can also re-engage dormant customers. Competitive edge. By strategically positioning the brand in the market, rebranding can create a unique selling proposition, setting the business apart from competitors. Increased brand equity. A well-executed rebrand can boost brand equity and strengthen customer loyalty, leading to higher customer retention rates. Adaptation to market changes. Rebranding enables small businesses to adapt to changing market trends, preferences, and demands, ensuring long-term relevance. And, last but certainly not least – expansion and diversification. If a business expands its product or service offerings or enters new markets, rebranding can reflect these changes and signal growth. Cons of Rebranding a Small Business Obviously, there are always downsides. When a company undergoes such a change, it can have certain drawbacks that you’ll naturally want to avoid or mitigate as much as possible. So, here are the most common pitfalls of rebranding a small business: Cost and resources. Rebranding can be expensive and resource-intensive, impacting a small business’s budget and operations. Customer confusion. Sudden and drastic rebranding can confuse existing customers, leading to a temporary drop in sales and loyalty. Time-consuming process. Rebranding is a time-consuming process that requires meticulous planning, design, and execution. It can divert attention from day-to-day operations. Brand equity erosion. If not executed well, rebranding can erode existing brand equity, resulting in lost customer trust and a weakened market position. Also, consider a possible negative perception. Some customers may perceive rebranding as a sign of instability or desperation, impacting the business’s credibility. Summing It All Up Rebranding is a strategic decision that small businesses should approach with careful consideration. By conducting thorough market research, defining clear goals, and involving employees, small businesses can increase their chances of a successful rebranding initiative. While rebranding offers numerous benefits, it is essential to weigh the pros and cons to determine if it aligns with the business’s long-term objectives. When done thoughtfully, rebranding can be a powerful tool for small businesses to evolve, adapt, and thrive in a dynamic market landscape. Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer.