Business Education

Hey Entrepreneurs, If You’re Comfortable in Your Role, You’re Probably Doing it Wrong

Comfort. It’s a wonderful feeling. When we’re comfortable, we feel secure, often content, and better still, in control. But, control is an illusion. Just like the security of a job or a long-established business. That is, until something goes seriously awry. Then, it becomes quite clear security is not forever. Comfort most definitely falls into the same category, but sometimes, for different reasons. So, if you’ve become comfortable in your role, chances are excellent you’re doing it wrong. Here’s why.

Comfort Usually Leads to Complacency

Isn’t it strange how the mind works? When someone thinks of “comfort,” he or she gets an entirely different feeling than when thinking about “complacency.” Sure, they are two different things. And, this becomes all-too apparent when compared with one another. Unfortunately, it’s at this juncture that reality sets in hard.

Making a concerted effort to challenge yourself will inspire you and help prepare your business for the future. As a result, you will be able to lead your company with the confidence that you’re making good decisions — because you are. —Entrepreneur.com

Someone who is comfortable is generally complacent. He or she typically doesn’t have any nagging concerns. It’s basically the manifestation of complacency. A point at which one’s guard is so far down, it might as well not exist. This state of mind is a precarious one because it can easily lead to bad outcomes. So, it’s best to be on one’s toes and that’s possible by stepping out of your comfort zone.

4 Big Benefits of Stepping Outside Your Professional Comfort Zone

You’ve probably heard this philosophy before — getting out of your comfort zone will be to your advantage. Moreover, it will do so in more than one way. For instance, it will, at the very least, help you to break away from the ordinary.

It breaks up routines. So, let’s start with the most obvious benefit. Stepping outside your comfort zone helps you to get away from routines (in other words, a disruption or end to the monotony). If you step outside your comfort zone, you can better reassess your schedule and inject a little (and much-needed) variety.
It gives you more creative chances. Breaking away from your comfort zone also gives you the opportunity to indulge in creativity. That can be beneficial in a number of ways. For example, the ability to think unconventionally and entertain solutions to difficult and/or stubborn problems.
It helps you effectively deal with stress. Another big advantage to stepping outside your comfort zone is that it helps teach you to more effectively deal with stressful situations. This lessens panic in uncertain times and that’s a very important trait to learn.
It provides opportunities to build confidence. Last but certainly not least, you’ll feel more confident when you successfully step away from your comfort zone. This, especially if you return to a normal routine thereafter. In a short period of time, you can again step away to build even more confidence.

What other suggestions do you have? Please take a brief moment to share your thoughts and experiences so others can benefit from your unique perspective! (You may never know who you’ll help out.) 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.

A Lesson from the Luddites Smart Ways to Keep Your Small Business Agile and Adaptable

June 12, 2024 No Comments

A Lesson from the Luddites: Smart Ways to Keep Your Small Business Agile and Adaptable You’ve probably heard of the Luddites – a group of English textile workers who protested against the rise of mechanized weaving looms in the early 19th century. They believed these new machines would lead to widespread unemployment and take away their livelihood. To save their jobs, the Luddites focused on destroying the forthcoming state-of-the-art technology instead of adapting their skills to work alongside it. This inflexible approach ultimately proved futile. But, they didn’t anticipate the long-term benefits of mechanized weaving, such as increased efficiency and lower production costs. These advancements ultimately led to a more competitive textile industry and potentially more jobs in the long run. In other words, the Luddites are a prime example of a small group who failed to recognize the emerging situation and simply weren’t agile or adaptable enough, which ultimately spelled disaster. Why Companies of All Sizes Need to Stay Agile and Adaptable Today, small businesses benefit from staying agile and adaptable because they can respond quickly to market changes, customer needs, and technological advancements. This allows them to outmaneuver larger competitors who may be slower to react due to their size and complex decision-making processes. Being agile and adaptable also enables small businesses to foster a more personal connection with their customers by quickly addressing their needs and concerns. Agility and adaptability are crucial in our incredibly fast-paced business environment, where sudden global events, technological shifts, and changing consumer demands can impact the market. By embracing change and staying flexible, small businesses can maintain a competitive edge, innovate more effectively, and ensure their long-term success. Moreover, small businesses have the advantage of making decisions and implementing changes more quickly than larger organizations. This agility allows them to experiment with new strategies, products, or services, and learn from their successes or failures without significant financial or operational risks. Best Ways to Keep Your Small Business Agile and Adaptable To keep your small business agile and adaptable, you can start by encouraging a culture of adaptability. It’s very important to foster an environment where employees feel comfortable taking risks, experimenting with new ideas, and learning from failures. This can be achieved by rewarding innovation and promoting a growth mindset within your team. Additionally, embracing technology as it improves. Moreover, staying up to date with the latest technological advancements in your industry and being willing to adopt new tools and processes that can improve efficiency and adaptability. While these are fundamental starting places, you can do much more. Your small business can pursue more strategies to keep it on the cutting edge, and up-to-date, and make it agile and adaptable by doing the following: Listen to your customers. Regularly gather feedback from your customers and use it to make informed decisions about your products or services. This will help you stay in tune with their needs and preferences, allowing you to adapt accordingly. Stay agile in your operations. Implement agile methodologies to streamline your business processes and improve collaboration within your team. This will help you respond quickly to changes and make more informed decisions. Foster cross-functional collaboration. Encourage collaboration between different departments and teams within your organization. This will help break down silos and promote a more holistic approach to problem-solving and decision-making. Invest in your employees. Provide opportunities for your employees to develop new skills and expand their knowledge. This will help them adapt to new challenges and contribute to the overall adaptability of your business. Monitor market trends and changes. Keep a close eye on market trends, competitor activity, and changes in your industry. This will help you identify potential opportunities and threats, allowing you to adapt your business strategy accordingly. Embrace change. Be open to change and willing to adjust your business model or strategy as needed. This will help you stay ahead of the competition and maintain your competitive edge. Maintain financial flexibility. Ensure your business has the financial resources to adapt to changing market conditions and seize new opportunities. This may involve diversifying your revenue streams, managing your cash flow effectively, and maintaining a strong credit rating. Also, be sure to communicate openly and honestly. Keep your employees, customers, and stakeholders informed about changes within your business and the reasons behind them. This will help build trust and support for your adaptability efforts. Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at (602) 541-1760, or, if you prefer,

The Pros and Cons of Hiring Remote Workers

May 17, 2019 No Comments

Hiring remote contractors or employees, like anything else, has its pros and cons. It’s a difficult decision, particularly if you haven’t done it before. When you need more hands on deck, you might wonder if it’s really necessary to bring in a full-time person into the workplace. With all it entails, it’s a big leap, no matter how many times you’ve done it before. So, what about hiring someone to work remotely? What are the pros and cons of hiring remote employees? Let’s take a quick look. Remote Staff Cons Hiring remotely can mean having to make a few adjustments, including time differences. You might find a great fit in a candidate who lives in another time zone. Sometimes, even an hour or two can make a huge difference. Hiring remote employees can be an efficient and cost-effective way to solve problems for small businesses. For many business owners, knowing the benefits of remote hires can open up a variety of benefits, from cost savings to efficiency. —On Deck.com Another possible stumbling stone is communications. Yes, today’s technology makes it far more easy to communicate over just about any distance. But, it still has it limitations, no question at all. Then, there’s the challenge of training. This might well prove the most difficult obstacle to hiring a remote employee or contractor. Remote Employee Pros Of course, there are some very good reasons to hire a remote staff member. Here are a few benefits to hiring a remote worker: Reduced cost. This can’t be understated. When you hire remotely — especially for a contract position — you’ll get the benefit of saving money on labor. A remote contractor can save money in the form of health care and other benefits. Plus, remote contractors might accept a little less in the way of compensation for their own convenience of not having to commute. Skill-set access. Sometimes, it’s just too costly to hunt down the right person with a needed skill-set in your location. (That person might not even be available or live in your area.) In situations like these, needing a particular set of skills, a remote employee could be a great fit. Time advantages. What works one way can work another. Someone who lives in a time zone that’s a couple or few hours ahead of you can serve as a big benefit to getting a head start. He or she can produce what’s needed and do so before you even get into the office. Less office drama. One thing most people don’t think about when it comes to the benefits of hiring remotely is that it doesn’t add to any office politics. Someone who isn’t physically on-site won’t feed into the gossip, which is another advantage. What other points would you add to these? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.