Business Education

Now is the Perfect Time to Plan for the Next Big Disruption

Pandemics, natural disasters, and other unfortunate events might be a rarity, but they do happen. While it’s certainly possible we may not experience a major event in the near future, it’s irresponsible to ignore the possibility. After all, there’s an undeniable truth to the old adage, “Better safe than sorry.” Even if it is only a minor occurrence, being prepared is just plain smart.

Fortune Favors the Prepared

You’ve no doubt heard the expression, “Fortune favors the prepared.” The reason it’s been around so long, is because it’s proven true time and time again. When you have a plan in-place, you’re much less likely to panic. Stress and anxiety are very powerful emotions which can cause you to make rash decisions. And, everyone knows that making decisions in a rush often leads to worsening already bad situations.

Today’s business landscape has several unique features, which will add new complexities on top of the historical playbook. This makes it important for business leaders to prepare for the specific circumstances of the next downturn, as well as exploiting the right lessons from the past. —Harvard Business Review

So, knowing what you’re going to do in advance provides you with an immense advantage. You’ll be able to follow along a predetermined path. At the very least, you’ll have parameters in-place to help guide you, should your plan not be totally applicable.

Planning for the Next Big Disruption

We’ve already gone over some of these points before, but most, if not all, warrant repeating. When you prepare, it’s much easier to take decisive action, virtually eliminating the need to debate a course of action. Here are some helpful tips for how to plan for the next unplanned event:

Ready your team for truly remote capabilities. When the impact of the novel coronavirus was foreboding and uncertain, precautionary steps were the only responsible thing to do. If you allowed your employees to work from home, they did so on the fly. And, since reopening, might have returned part- or full-time to the office. However, they probably did not have and still don’t have all the necessary resources to truly work remotely. Put those tools in place now and this will offer you a more seamless transition if needed in the future.
Prepare your place of business. We previously discussed protecting a business from vandalism. Although this is unpleasant to think about, it is something that you should plan for. Having the right security and structural preparedness is a necessity to limit damage caused by vandalism. Additionally, you should have prevention and recovery tools in place for other events, like natural disasters, criminal activity, and other unfortunate events.
Streamline your organization. Due to the global pandemic and subsequent shutdowns, many businesses furloughed or outright terminated employees. But, expenses remained, despite a marked decrease or near complete cutoff of earnings. While you may have made some temporary adjustments or even cut some expenses out altogether, now is an ideal time to re-examine your operations, pinpointing duplication, inflated expenses, and other unnecessary elements.

The overall point being, even if you managed to pull through this last disruption, you may not be able to do so again. Now is an ideal time to plan ahead put in place measures so they are ready to go at a moment’s notice.

What other suggestions do you have getting prepared? Please, take a moment to share your thoughts and experiences by commenting and benefiting others!

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

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How to Keep Your Sanity and Family Happy While Working from Home

May 26, 2020 No Comments

Work-from-home roles have greatly increased over the past couple of months. And, for those continuing in their WFH capacity, there’s a number of challenges to overcome (or get used to in one way or another). In other words, a few weeks of working remotely might give you a taste of what it’s like. But, if it turns into a long-term scenario, you’ll need to know how to fight off the creeping insanity it brings in your life. So, let’s take a look at how to preserve your head and keep your family happy, too. Biggest Work-from-Home Challenges Okay, if you’ve worked at home over the past few or several weeks, you’ve probably encountered one or more challenges. For instance, distractions are among the top. This is probably the most ubiquitous problem. However, a bit of discipline will go a long way. Then, there’s noise. Others inside the house can create a lot of noise. The easiest fix, asking for quiet and working in a space away from the hustle and bustle. Working from home comes with its own set of challenges. It’s important to have a quiet space where you can work, minimize distractions, set a routine, and focus on your goals for the day. Working from home with kids can add a new dynamic to your job. When our kids are on extended breaks from school and are sharing the same space, distractions can come more easily which can impact our productiveness. —Focus On the Family Inadequate equipment. This will present itself at some point. Here’s the way to beat it — be proactive and list what you need, then obtain those items before their absence becomes problematic. No boundaries is yet another challenge. Family members will interrupt — it’s inevitable. Instead of letting it happen, set a system in place to prevent interruptions. Effective Work-from-Home Success Strategies Now, we’ll get into some ways to keep your sanity — and to keep your family happy at the same time. It’s not rocket science, but these strategies will prove worthwhile. Here’s what you can do: Establish a routine. Now more than ever, it is key to establish a routine to keep your sanity, your focus and your productivity. Working from home can and will be a temptation to draw you into a relaxed sense of productivity as if it is the weekend. Take regular breaks. Run an errand or step outside to walk the dog. Stroll around the block once or twice or trek up and down the stairs. The idea is not to stagnate behind a desk or elsewhere. Just take brief breaks during the day. Don’t neglect household chores. If you’re working from home, you’ll probably want to avoid household chores. However, there’s win-win situations being missed. Throw in a load of laundry, put the dishes away. Mop, vacuum, or sweep the floor. When you do, you’re doing your family a favor (and yourself). Be careful not to let the household chores distract you from your focus on business responsibilities. Entertain your children regularly. Kids need to be active. And, you can take advantage of this to get outside yourself. Go to a park, play a game of catch, take a stroll around the block. Do fun things with them and you’ll both get something out of it by taking a break and spending quality time with your children. Embrace the power of work mobility. Now that things are beginning to normalize, it’s possible to get some work done at the local coffee shop. Or, sit out on the porch and make a few phone calls when it’s quiet. Do small household projects now and again. Don’t ignore those little things around the house that need fixing. Instead, work on small projects incrementally and reap the reward of pride and the benefit of having a better place to live. What other suggestions do you have? Please take a moment to share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Most Effective Ways to Improve Customer Satisfaction

March 27, 2019 No Comments

Improving customer satisfaction is a never-ending pursuit. It’s not like any company can fully reach 100 percent customer satisfaction. Although, that certainly doesn’t mean it isn’t worthwhile to strive for as high as rate as possible. So, just how do you improve customer satisfaction? Best Methods to Improve Customer Satisfaction Let’s start from a realistic baseline. We’ll blow-up the old adage, “the customer is always right.” Because, we all know, this is a good rule of thumb but isn’t universally true. However, it’s equally as true, happy customers help sustain and create additional business. As business owners, we’d all like to think of ourselves as providers of great customer service. As small business owners in particular, it’s quite possibly your biggest differentiator. After all, how often is it that you walk into a national chain restaurant and are greeted by name, handed your favorite drink and made to feel like part of the family? But great customer service is also about knowing how to handle problems, responding to and resolving issues—something at which agile small businesses can often excel. —U.S. Small Business Administration One of the best ways to improve customer satisfaction is to eliminate repetition. Now, this is a difficult task but it’s not impossible. A full 72 percent of consumer attribute poor customer service to having to explain their problem to multiple people. Meaning, people seriously dislike repeating themselves to multiple employees. Instead, funnel such situations straight to where they must ultimately go. Most Effective Ways to Improve Customer Satisfaction Now, that’s a huge piece of improving customer satisfaction. But, it isn’t the only way you can make your customers happier. Here are a few more helpful suggestions: Monitor social media. An old statistic states if someone is dissatisfied, they’ll tell 7 to 10 people. But if pleased, will only tell between 2 and 3 other individuals. Today, those numbers are much larger due to social media. So, that’s a key place to follow. Lend a helping hand. Somethings require a bit of a learning curve to understand and eventually master. If you are selling something requiring a learning curve, offer a means to explain it. A manual or a video will work nicely. Give customers rewards. No, not every customer should receive a reward. But, your most valuable definitely need such adulation. If possible, make it personal for an added touch. Provide flexibility. Along the same lines of eliminating repetition should be the ability to offer flexibility. Simply put, give more team members the power to make decisions that can resolve issues. Prevent problems. Another great way to improve customer satisfaction is to prevent problems. For instance, if someone purchases two items and they aren’t compatible, offer a heads-up and alert them. What other practices improve customer satisfaction? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

3 Sure-Fire Ways to Exhaust and Infuriate Good Employees

August 5, 2020 No Comments

No manager or business owner sets out to sabotage their employees. But, that’s sometimes the end result, brought on by a number of different behaviors. For instance, it’s well known that holding unnecessary meetings is a great way to agitate and irk team members. After all, they know superfluousness when they’re unwillingly subjected to it. So, it only serves to bother and anger people. But, that’s not the only way entrepreneurs and managers alike aggravate and annoy employees, there are others. Employees’ Needs are Important Your employees’ needs must be met in order for them to respect you. That doesn’t mean giving them everything they want. But, it does mean treating them the same way you’d want to be treated if you were in their shoes. For instance, unclear communication. Being unclear is just as bad as being unkind. Without clarity, you’re not providing ample direction and that is a real source of frustration for your employees. Toxic company culture often starts at the top in the active bad behavior of a senior leader or by those who have supervisory responsibilities. To get the root of the problem follow the toxicity wherever it leads because people don’t leave companies, they leave managers. —Entrepreneur.com Conversely, there’s also such a thing as providing too much detail. It’s the true-life version of drinking from a fire hose. You’re providing way too much information to process. This inevitably results in bewilderment and/or confusion. Unsurprisingly, employees don’t really understand the overall picture because you’re losing them in the minutia. 3 Sure-Fire Ways to Exhaust and Infuriate Good Employees Although the above examples are ways to run down employee morale, three other behaviors will outright cause them to sour. Here are the three ways that entrepreneurs and managers effectively ruin their teams: Micromanaging. This is probably the most hated and counterproductive managerial trait of them all. By not giving people their independence and autonomy, you are disrespecting them. Plus, this stifles them intellectually and creatively. Moreover, it results in feeling unappreciated and resentment builds. In short, there’s nothing good that comes from micromanaging. Making too many changes. While change can be a good thing, and sometimes it’s absolutely necessary, too many changes will only cause chaos. Employees will lose track of what is acceptable and what’s not and will eventually fail to recall the latest policies and procedures and even goals. Being indecisive and too emotional. When you lead with enthusiasm and vision, that’s a great way to get your team members excited. But, If you lead by raw emotion only and worse yet, can’t make a decision at critical moments, you’ve clearly demonstrated your not cut out for a role in leadership. Yes, there will be difficult decisions and times when emotions will run high or low, but you have to stay calm and avoid rash decisions. Or, failing to make any decisions whatsoever. What other managerial behaviors do you think irritate and/or undermine employees? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.