Business Education

How To Network during Periods of Instability

Despite the reopenings across the country, many places have still yet to return to normal, pre-pandemic schedules. Several offices continue to allow employees to work entirely from home, or only require minimal in-office workdays, usually just one or two. Meanwhile, small business owners also continue to experience disruptions in their operations, due to a labor shortage, shortage of materials and supplies, and other abnormalities. Plus, several professional associations are not holding annual meetings, or have greatly altered, meaning mostly reduced, their events and in-person get-togethers. All of these unusual occurrences have likewise lead to fewer opportunities to network, but this form of relationship-building still remains essential.

The Importance of Networking Consistently

Even during normal times, regular networking is important for career professionals and entrepreneurs alike. It provides them with the opportunity to meet new people and gain a new perspective. Networking also helps them discover other types of opportunities, including career advancement, product innovations, and possible future alternative routes. Networking has always been essential to small business owners because it costs little to nothing and helps them create brand awareness.

Small business owners use networking as a means to form relationships with others, in like or related fields, that help to expand their business’s ability to find new customers, partner, and grow. A key element to effective networking is to make you known. The premise being that the more people you meet, the more people there will be to get to know and remember both you and your business. You should use every professional and social opportunity to meet and connect with new people.–Olympia Benefits

Networking also offers a few other benefits, such as improving social skills, being exposed to new environments, and forming new relationships, both professional and personal. In other words, networking isn’t just about selling products and services, it also is a prime environment for self-enrichment. Too few people see these qualities and only network purely for the sales aspect. Regardless, this relationship-building activity still remains extremely important, even though there are many abnormalities that persist, even well after the pandemic reopenings.

How To Continue to Network during Unstable Times

There have been periods in the past that have completely disrupted the entire business and economic landscape. Perhaps the most recent and largest in modern history began in earnest in 2008, continuing for several years and what is now referred to as the Great Recession. Although this was mostly related to the housing sector, its effects reached practically every corner of commerce in one way or another. Both business owners and consumers had to adapt, with people leaving long careers to go in entirely different fields of work. Similarly, business owners changed their models in order to survive and return when economic circumstances permitted. During this time, networking became very important not only to sell products and services but to find new opportunities. Here are a few helpful suggestions for networking during such times of upheaval:

Change your mindset. Perhaps the biggest obstacle to overcome isn’t in external factors but is entirely internalized. That is to say, it’s very difficult to not only identify but change one’s mindset. Your attitude and outlook will have much to do with this and it’s critical to understand how your approaching the world as so many people’s lives and other businesses are still in a state of disruption.
Be flexible with your schedule. Your old way of networking might still be partly or mostly intact. If so, that’s very good news and you won’t have to make many adjustments. However, if very little has returned to normal or is still in a state of flux, you’ll need to be flexible in order to find the time and places to network. This is also a great opportunity to think outside the box and identifies places where you did not network before.
Temper your normal sales approach. Since things are not completely back to normal for everyone, it’s best to pull back on the sales talk. Instead, make it more about building new relationships, whether they are professional or personal. This might not be of big benefit now but could prove very advantageous in the future.

What other strategies can be used to network during unusual economic times? 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.

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The T-Mobile-Sprint Merger Raises these Important Questions

May 9, 2018 No Comments

The T-Mobile-Sprint merger is generating a plethora of headlines. Some think it’s a bad idea. Others believe it will provide certain benefits. Still others don’t see a clear winner. Regardless of where you stand, it does raise a few interesting questions. We all understand what a merger is — the combining of two entities into one. But, there’s a lot more to it than just this simple explanation. The truth is, there are distinct advantages and disadvantages of merging two organizations. Common Merger Disadvantages Let’s begin with one of the most obvious pain points — employee morale. The reason two brands come together is to improve their performance. However, this often means the elimination of duplicate roles. And, rank-and-file employees instinctively know this fact. Another downside to merging is that it can create more debt. Teaming up means taking on the balance sheet obligations, which can easily become problematic. …making changes to your business include the economic and political climate in which you operate. Determine whether tax or trade laws in your region are friendly toward the types of modifications you want to make. You may come to the conclusion that now is a good time to move forward with the desired alterations or you may elect to wait for circumstances to change in your favor. —Bix Fluent.com Then, there’s another intangible — company cultures. One organization might operate with a completely different dynamic than the other. Which might manifest trouble when the two become one entity. Of course, merging means the essential elimination of the top decision maker. Instead, there are at least a few people on either side of the aisle. Biggest Merger Advantages Now, let’s take a look at the upsides of merging. The point of coming together is to improve the performance and ensure a better future for both companies. Here are the top merger advantages: Improved efficiency. We’ve already partially mentioned this but here’s the other side of eliminating redundant positions — increased efficiency. A merger can provide a new environment to improve efficiency on many levels. New territories. When two companies come together, it’s likely that one (or both) parties will benefit from the introduction of new territories. It’s a way to tap into market share without undergoing the growing pains. Cost-effective expansion. Speaking of growing pains, a merge creates an opportunity to expand without all the normal hassles. It allows for the identification of the best assets, which means increased productivity. Multiple growth opportunities. Two previously competing businesses combined as one opens up a number of growth opportunities. Instead of working to beat one another, they now work in unison toward one or more goals. What other consideration would you factor into such a decision? What experiences have you had in this scenario? Please feel free to share your thoughts by leaving a comment! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How Successful Entrepreneurs Stay Calm Under Pressure

May 16, 2017 No Comments

There’s one thing that’s certain about starting and running a business, there will be challenges. Some are mere annoyances, while others are minor and easily dealt with, then, there are times when it seems the earth moves. It can happen in the blink of an eye, a simple error demonstrating much to your chagrin the butterfly effect. One tiny mistake or misstep makes a larger-than-life impact, and, your team looks to you to deal with the situation. We are told our whole lives that when faced with a challenge to remain calm. While it’s easy to do so as an exercise, things get a lot more complicated in real time. It starts with a stark realization, your heart drops into yours stomach, and, you begin to look desperately for answers. For most of us, that’s a normal reaction, however, for successful entrepreneurs, there’s a different approach. How Successful Entrepreneurs Stay Calm You’re not alone if you believe that stressful situations wreak havoc on lives and cause physical damage, particularly because it’s backed by science. Dr. Travis Bradberry helped to conduct a research study on more than one million people. As the nearby quote states, the analysis revealed that a whopping 90 percent of those categorized as top performers were able to stay calm, manage their emotions, and remain in control. The ability to manage your emotions and remain calm under pressure has a direct link to your performance. TalentSmart has conducted research with more than a million people, and we’ve found that 90% of top performers are skilled at managing their emotions in times of stress in order to remain calm and in control. —Forbes What this teaches us is that people learn to deal with stress, and other neuroscience research has found this to be true. One of the secrets revealed is that staying calm and under control is not an inborn trait. In fact, we also know this because of our instinctive fight-or-flight response–both can make a bad situation a whole lot worse. So, how is it that successful entrepreneurs stay calm under pressure? Well, they do these things: They take a breath and step back. Okay, we all know to do this, but, how many of us actually practice it? Too often, we let our gut instinct fly, which in most instances, isn’t a path to solve the problem but exacerbate the situation. Taking a deep breath allows you to breathe, in other words, calm your nerves, and your brain. They solicit and seriously entertain ideas. Look to some of the most successful people in business, and, you’ll definitely find a common trait: trust. We’re not talking about self-confidence, but trusting in others, or, put another way, giving serious consideration to the ideas and suggestions of other people. Behind every successful business person, there’s a team of people they trust and rely on for advice. They think carefully but don’t fret the outcome. Rather than focus on the moment and allowing it to become an exercise in fear and doubt, look to the future. While what you face might be heart pounding at the moment, it’s quite helpful to see the good that will come from it. Fear produces poor decisions but hope gives you options and a sense of peace. They stand by their beliefs and principles. When confronted with a problem, rather than give into the pressure, successful people choose to stand by their beliefs and not compromise their principles. While this might cause a setback, it serves a higher purpose and makes a statement. They relabel their emotions. Though not easy, this is very helpful. Instead of giving into fear, reroute the feeling into anticipation. You can turn frustration into desire, and transform dread into wise caution. It takes practice to do these things, but becomes more natural over time. That’s a good thing, because you’ll learn a lot on your journey and different constructive coping mechanisms that produce real results. [shareaholic app=”follow_buttons” id=”26833294″]

If You’re Hiring Based on Skills, You’re Hiring Wrong — Here’s Why

March 2, 2022 No Comments

There’s an internet meme going around that makes a profound point, “Hire based on attitude, not skills — because you can always teach skills.” And, it backs up some very interesting statistics. For instance, did you know that 85% of a company’s success is due to the team’s attitude, and only 15% is due to individual skills? That’s why when businesses are looking to hire new employees, they should focus on finding individuals with the right attitude, not just those who have the perfect skill set. So, let’s expound a bit as to why. Attitude vs. Skill When it comes to hiring new employees, many businesses focus on finding candidates with the appropriate skills for the job. However, in order to create a successful and productive team, it’s important to also consider attitude. A positive attitude is essential for maintaining a positive work environment and achieving company goals. Is it better to have someone in a team lead role who has a strong work ethic and is all-around positive and can learn the skills or is it better to hire someone based on skills only? What is most important — the skill set or the attitude and growth potential? It depends on the job. There are some jobs where it might make sense to hire for attitude and teach the work itself when it won’t require a major investment of time to do so. There are other jobs where experience and a pre-existing skill set are essential. —Inc.com Therefore, businesses should focus on hiring people who have the right attitude, even if they may not have all the necessary skills. With the right attitude in place, employees can be taught the required skills over time. This makes sense, especially when looking at first-time job seekers in entry-level positions. Those individuals often have little to no skills at all. Those are taught through direct instruction and experience. The Advantages of Hiring Based on Attitude Rather than Skills There is no question that skills are a critical component of any employee’s toolkit. However, research has shown that an individual’s attitude is a stronger predictor of success than their skills. In order to capitalize on this, businesses should consider hiring based on attitude rather than skills due to the following reasons: Longevity. Hiring based on attitude will help you find candidates who are motivated and passionate about their work. These are the employees who will go above and beyond for your company. They will be more engaged in their work, and they will be less likely to leave their positions. Synergy. Hiring based on attitude will help you find candidates who are a good fit for your company culture. This is extremely important, as it can save you time and money in the long run. If a candidate is not a good fit for your company culture, they will likely be unhappy and unproductive in their position. Flexibility. Hiring based on attitude will help you find candidates who are able to adapt to change. When a company hires based on skillset, they may hire someone who has very specific knowledge and experience in their field. But this person might not be able to adapt when things change in the future. What other benefits are gained by hiring based on attitude instead of on skillset? Please take a moment to comment and share your thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How To Network during Periods of Instability

The Importance of Networking Consistently

How To Continue to Network during Unstable Times

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Related Posts

The T-Mobile-Sprint Merger Raises these Important Questions

How Successful Entrepreneurs Stay Calm Under Pressure

If You’re Hiring Based on Skills, You’re Hiring Wrong — Here’s Why

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