Business Education

Coronavirus Presents an Opportunity to Teach Your Children about Business

The Sword of Damocles tells a very important story about the stark reality of being in a position of power. For those unfamiliar, Damocles is a court sycophant or flatterer, who pines for the power of King Dionysus II. The king gives his throne to Damocles, who in-turn enjoys fine food and drink, opulence, and entertainment, only to be surprised by a razor-sharp sword dangling over his head, held in-place by a single horsehair. In an instant, Damocles learns power comes with a price. That every leader is under constant threat of being replaced or worse.

Crisis can Turn into Opportunity

A pandemic was probably the furthest thing on any business leader’s mind prior to the outbreak of COVID-19. Now, hindsight being 20/20, it’s easy to see the sword comes in many forms. And, it’s a great time to teach your children about the inevitable ups and downs of owning and running a business.

By becoming an entrepreneur — whether it is simply putting up a neighborhood lemonade stand, launching a landscaping business or developing a new app — kids can learn about budgeting, saving, spending and investing. —CNBC.com

You can teach many lessons by having your kid(s) start and operate a small business. But, as we adults know, failure is where the hard but necessary lessons lie. Use this crisis to show your children how to cope and face adversity. It’s a terrific time because there’s no shortage of awareness about the outbreak and quarantines. Meaning, there’s a lot of context and therefore, makes it easier to use real-world examples.

Three Lessons the Coronavirus Business Owners can Teach their Kids

The moment we’re all experiencing as business owners, managers, and team leaders causes us to question a whole lot of things. And, that’s not a bad thing, especially when it comes to teaching business lessons to children who can later use that information. Here are three important business lessons entrepreneurs can teach their kids:

Debt. Everyone knows the risk accumulating debt carries. But, it’s so commonplace, we just don’t appreciate how dangerous it can be when things go wrong. While debt is very often used by companies of all shapes and sizes, when there’s a disruption in the economy, it remains an obligation that can’t be ignored. Debt is sometimes necessary but when it’s used in excess, it can financially ruin a business and even personal lives in a devastating way.
Hard choices. Another important lesson to teach is about having to make tough decisions. Being able to evaluate the circumstances, choose essential personnel, and identify where cuts can be made certainly isn’t easy. But, it’s a wonderful life lesson to relate that will make a life-long impression.
Streamlining. Call it identifying redundancy or creating efficiency. If you take an honest look at everything inside your business, you’re going to find unnecessary duplication or just flat out waste. Use these examples and make them relatable on an age-appropriate level.

What other lessons would you add to this list? 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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How to Keep Employees Motivated During the Holidays

May 24, 2017 No Comments

With Christmas and the new year right around the corner, now is a time when productivity slips, attention spans shorten, and minds wander. It’s no surprise considering there’s so much going on outside the company: trip planning, shopping, decorating, and family gatherings. Inside, it’s supposed to be business as usual, but, the holiday season takes over. No one wants to be a Grinch during the holidays and it’s easy to let festive spirit slow things down. However, in the remaining days of the year, the pressure is on and it’s not always simple to stay the course. How to Keep Employees Motivated during the Holidays While some team members will be on vacation, others will still be showing up and this creates an unstable atmosphere. What’s more, you are not immune from the holiday fever and find it’s difficult enough just to keep yourself on-task. If you’re not careful, you’ll unconsciously let it be known and that’s tantamount to telling everyone to take it easy and slack off. While you certainly don’t want to portray yourself as Ebenezer Scrooge, you do need to set an example and temper your own excitement with good work ethic. Keeping your employees engaged in their work can be a challenge during the holiday season. Considering that the holiday season lasts roughly from the week of Thanksgiving until after New Year’s, managers who don’t find ways to keep their team motivated risk losing a lot of money during the fall and winter months. —Business News Daily.com Doing so won’t necessarily be simple and might even strike you as unnatural, but, if you want to be an effective leader, you’ve got to learn how to play different roles well. That’s what being an entrepreneur is really all about: being flexible and knowing when to take off one hat to put on another. For your employees, the holidays are not only exciting and distracting, it’s the end of the year and looking forward to next year takes their eyes off today. Here are some helpful tips on how to keep employees motivated during the holidays: Be flexible with schedules. The last thing you should do is create conflict and ill will during this time of year. Try to be as flexible as possible with schedules and don’t be afraid to ask for others to step-up when necessary. If you act with team effort, you’ll get a lot more cooperation and positive responses. Let the excitement in the office. There’s nothing wrong with allowing employees to decorate, exchange gifts, and fill the space with holiday music. It puts the spirit of the season to work for you instead of against you. Openly communicate expectations. No one likes the sneaky, sly boss who surprise employees with unpleasant things. You have goals to reach and tasks to get done, so don’t just bark out orders, communicate in a friendly manner and always open up the discussion to new ideas — you might be very surprised by what you hear. Actively engage and manage your team. While people don’t like to be micromanaged, they do appreciate being guided. You’re in a position of authority and this is a wonderful opportunity to sharpen your leadership skills, as well as demonstrate your ability to motivate. Take time to reflect on the year’s accomplishments. Remind people of this year’s accomplishment and be sure to give congratulations with enthusiasm. Speak about being vigilant and finishing the year strong for the good of everyone in your organization. In addition to these, you should also carve out some time for a party or even a dinner. Keep it simple and ask for ideas from your team about what they’d like to do and where to hold it. Give small gifts or even a Christmas card to your employees and let them know just how appreciative you are of their work and dedication. Want to find out about what a business coach can do for you? [shareaholic app=”follow_buttons” id=”26833294″]

How New Business Owners and Startup Entrepreneurs can Deal with Holiday Stress

December 21, 2022 No Comments

Although the holidays are usually fun and enjoyable, they can be a significant source of stress. With so much to do and less time to get everything done, it’s very easy to feel overwhelmed. Stress can be particularly acute for business owners and entrepreneurs during the holiday season and this means being able to recognize the symptoms and cope with them appropriately. Why It’s Very Important to Take Stress Seriously Stress is a natural response to the demands and challenges of life. However, when stress becomes chronic and is not effectively managed, it can have negative effects on both the mind and the body. On the mental level, stress can interfere with concentration and decision-making abilities, leading to reduced productivity and difficulty in problem-solving. It can also cause feelings of anxiety, depression, and irritability. In extreme cases, chronic stress can lead to the development of mental health disorders Ask almost any small business owner about their plans for the holiday season, and there’s about a fifty percent chance they will laugh in your face. December is a notoriously stressful time for business owners, as the combination of wrapping up the end of year finances and projects, creating projections for the year ahead, and showing appropriate gratitude for customers and employees adds up to a heap of extra anxiety. —All Business.com On the physical level, stress can have a wide range of negative effects on the body. It can cause muscle tension, headaches, and digestive issues, as well as weaken the immune system and increase the risk of heart disease and stroke. Stress can also disrupt sleep patterns, leading to fatigue and difficulty in getting a restful night’s sleep. To mitigate the negative effects of stress on the mind and body, it is important to find healthy ways to manage stress, such as exercising, mindfulness practices, and healthy eating. By taking steps to manage stress, individuals can improve their overall physical and mental well-being and live happier and healthier lives. Tips Business Owners and Entrepreneurs can Use to Cope with Holiday Stress The holiday season can be a stressful time for new business owners and startup entrepreneurs. Between trying to meet end-of-year goals, managing a busy schedule, and dealing with the added pressure of holiday expectations, it can be easy to become overwhelmed. Here are five coping strategies that can help new business owners and startup entrepreneurs manage holiday stress: Set boundaries. It’s important to set limits on how much time and energy you dedicate to your business during the holiday season. Set aside specific times for work and make sure to take breaks to rest and recharge. Delegate tasks. Don’t try to do everything yourself. Delegate tasks to your team or consider hiring temporary help to alleviate some of the workload. Practice self-care. Make sure to prioritize your own well-being during the holiday season. This may include exercising, getting enough sleep, eating well, and finding time for activities that bring you joy and relaxation. Seek support. Don’t be afraid to reach out to your network for support and guidance. Surrounding yourself with a supportive community can help you navigate the challenges of the holiday season. Practice mindfulness. Take a few minutes each day to focus on the present moment and practice mindfulness. This can help you feel more centered and better equipped to handle the demands of the holiday season. By implementing these coping strategies, new business owners and startup entrepreneurs can effectively manage holiday stress and maintain their productivity and well-being during this busy time of year. So, what else do you recommend to help entrepreneurs and business owners deal with the stress of the holidays? Please take a few moments to give your own input to help others out during this time of year. Interested in learning more about business? Then just visit Waters Business Consulting Group.

Yes, Loyal Customers Will Lie to Protect Your Feelings

May 28, 2026 No Comments

Small business owners often operate under a set of assumptions. For the most part, these beliefs are typically correct, but not always. Even when something seems positive, it might well be obscuring a negative. What makes this particularly disturbing is the fact that the concealment can easily go unnoticed until it’s too late. For instance, repeat customers. Although the relationship may appear strong, there just might be a few things stewing under the surface that those loyal customers simply don’t share. So, how do you get that information without being overbearing? Well, there are subtle ways to obtain important intel.

Coronavirus Presents an Opportunity to Teach Your Children about Business

Crisis can Turn into Opportunity

Three Lessons the Coronavirus Business Owners can Teach their Kids

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How to Keep Employees Motivated During the Holidays

How New Business Owners and Startup Entrepreneurs can Deal with Holiday Stress

Yes, Loyal Customers Will Lie to Protect Your Feelings

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