Business Education

You’ve Just Been Given a Serious Health Diagnosis, Now What?

You go in for a routine annual checkup with your doctor. He sees something that causes concern. Before you know it, he’s telling you to schedule some tests. Out of nowhere, you get a phone call from your physician, and he’s got some bad news—news that completely takes you by surprise.

It’s a total shock, and you can barely bring yourself to believe it. Once the initial wave of panic rolls over and starts to fade away, you begin to realize there’s a lot on the horizon, and that means you’ll need a plan. But, where do you start?

A Small Business Owner’s Guide to Navigating a Health Crisis

When a small business owner receives a serious health diagnosis, the news can be overwhelming, not just personally, but also professionally. The very nature of a small business often means the owner is the heart of its operations. A sudden health crisis can prompt a reevaluation of how the business is run, and taking proactive steps is crucial to ensure the company’s survival and the owner’s peace of mind.

This means you’ll need to not only accept change, but embrace it, and turn the situation into an opportunity, with the goal of improving.

Assess and Communicate

The first step is to assess the situation realistically. Understand the nature of the diagnosis, the treatment plan, and the potential impact on your energy and time. This is not the time for denial. Instead, it’s a time for strategic planning. The priority is to create a support system for both yourself and your business.

Begin by communicating with your inner circle. Be transparent with trusted employees, business partners, and key clients. They can be invaluable allies during this period. Assigning a temporary leader or delegating key responsibilities can ensure that daily operations continue smoothly. Creating a manual or a “business continuity plan” that outlines essential processes and contact information can be a lifesaver. This doesn’t have to be a complex document; a simple, clear guide can work wonders.

Take a Financial Snapshot

Next, it’s crucial to address financial concerns. Review your business’s finances and your personal finances. Consider options such as short-term disability insurance, business overhead expense insurance, or a line of credit. Consider speaking with a financial advisor who specializes in small businesses. They can help you navigate this complex landscape and make informed decisions about managing cash flow and expenses during your absence or reduced capacity.

Set Priorities

Finally, remember that you are your most valuable asset. Prioritize your health and well-being above all else. This may mean scaling back your business, shifting to a more passive role, or even preparing for a sale or closure. These are difficult decisions, but they may be necessary for your recovery. A serious health diagnosis is a formidable challenge. Still, with careful planning and a strong support system, it is possible to navigate this period while protecting the business you have worked so hard to build.

Want to Accomplish More?

Do you want your company to grow faster and earn more while spending more time with your family doing everything 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 480-636-1720, or, if you prefer, Waters Business Consulting Group to learn more about us and the services we offer.

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How to Deal with Employees Who Don’t get Along

August 13, 2020 No Comments

You may have some terrific employees who always deliver on their promises and go above and beyond expectations. They intuitively know where to pick up on certain projects and how to get the job done right. You wish that all your employees delivered the same high quality work, but you’re content that you have enough to really help make your company stand out. There’s just one problem — they don’t get along. It’s a real shame, because when teamed up, they ostensibly could do so much more. However, putting them together in the same room sets off a series of bickering and arguments and the whole thing becomes counterproductive. So, how do you deal with employees who don’t get along but are otherwise great assets to your company? Disagreement Can be a Good Thing While you’d like everyone to get along and work in harmony, you’ve got to remember that differences of opinion can be quite helpful. Call it devil’s advocate or thinking outside the box, but whatever it is, it can help you see certain things you would not otherwise consider. After all, different perspectives can help stir creativity and lean to solutions that you wouldn’t have thought of before. Managers face a sticky problem when confronted with two adults in the same office who won’t get along. The tension between the two employees affects their work as well as the work of others in close proximity to their conflict. Employees become stressed because just coming into the office feels uncomfortable. —The Balance Careers Disagreement can even lead to resolving issues that previously could not be solved. Sometimes, revisiting old problems can help people see others points of view and they become friends as a result, with a good working relationship. Of course, this magical moment doesn’t always happen, and it’s much more common than employees hold on to their differences instead of putting them aside to work together without strife. How to Deal with Employees Who Don’t get along The one thing you can’t do is ignore it and let the conflict fester. It will only worsen and that will eventually cause it to spread to other people. It could easily destroy company-wide morale. So, deal with it right away, by doing the following: Meet one-on-one. This is a great way to learn about the conflict from each person’s perspective. It will also give you a sense of where each individual is coming from. Plus, it will help you identify the real source of the problem. Meet together. After you have a better understanding of what’s going on, then you can meet together. Then, take the time to go over what each said to you separately and ask if what you recapped is a fair assessment. If so, you can work out one or more solutions. Follow-up regularly thereafter. Of course, you can’t just assume that will fix the situation for good. You’ll need to follow-up with both parties and do so routinely (at least for the foreseeable future). Be prepared to take additional action. It’s quite possible you’ll need to take more action. (It could even result in dismissing one or both of them. Or, some form of discipline, if necessary.) Should you need to devote more time, then it is definitely worth asking yourself if it’s worthwhile or descending into an unnecessary distraction. What other suggestions do you have for dealing with employees who don’t get along? Please take a moment to share your thoughts and experiences by commenting and giving others something to consider. Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Hire a Replacement for a Key Role in Your Small Business

September 28, 2023 No Comments

Hiring the right replacement for a key role in your small business is a critical decision that can significantly impact your company’s success. Whether you’re replacing a retiring employee, filling a newly created position, or addressing a talent gap, the hiring process should be thoughtful and strategic. How to Hire a Replacement for a Key Role in Your Small Business Obviously, hiring a new employee is always a big decision, but it’s especially important when you’re a small business owner and you need to find a replacement for a key member of your team. The wrong hire could have a major impact on your business, so it’s crucial to take your time and get it right. In order to make the right decision, you need to not only follow your gut and listen to trusted sources but also do these five things: Assess your needs. Before you start the hiring process, take time to assess your business’s needs. Clearly define the role you are looking to fill and identify the specific skills, qualifications, and qualities required. Consider both technical skills and soft skills like communication, adaptability, and cultural fit. Update the job description. Craft a detailed job description that accurately reflects the role’s responsibilities, expectations, and qualifications. Be transparent about your company culture, values, and mission to attract candidates who align with your business’s ethos. Consider remote talent. In today’s digital age, remote work is increasingly common. Don’t limit your search to only local candidates. Opening up the position to remote talent can significantly widen your pool of potential replacements. Screen resumes and applications. Review resumes and applications carefully, looking for candidates who possess the qualifications and experience outlined in your job description. Look for relevant work experience, education, and a track record of success in similar roles. Conduct thorough interviews. Conduct in-depth interviews with candidates to assess their skills, qualifications, and cultural fit. Use behavioral interview questions to gauge how candidates have handled specific situations in the past, as this can provide insight into their future performance. The specific skills and qualities that you look for in potential candidates will vary depending on the specific job requirements. However, some general skills and qualities that are important for any small business employee include: Hard skills: These are the technical skills that are necessary to do the job. For example, if you’re hiring a customer service representative, you’ll need someone with strong communication and problem-solving skills. Soft skills: These are the interpersonal skills that are essential for working well with others. For instance, you’ll want someone who is a team player, has good communication skills, and is able to handle stress well. Cultural fit: It’s important to find someone who will fit in with your company culture. This means finding someone who shares your values and who is a good fit for your team. In addition to the above skills and qualities, you may also want to consider the candidate’s experience, education, and references. By taking the time to find the right person for the job, you can ensure that your business is in good hands. Hiring a replacement for your small business is a significant undertaking that requires careful planning and consideration. By assessing your needs, crafting a compelling job description, and following a thorough hiring process, you can find a candidate who possesses the skills and qualities necessary to contribute to your business’s growth and success. Remember that hiring is not just about filling a position; it’s about building a team that aligns with your company’s vision and values. Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer. You can phone 602-435-5474 or send us an email.

How to Avoid Decision Fatigue; Wait, Avoid What?

November 14, 2018 No Comments

Decision fatigue. It’s a phenomenon which probably affects you. Yet, you’re not truly aware of it. Put another way, you’ve likely felt its impact, but just didn’t know what to make of it. Or, more particularly, what to call it. That’s okay. It’s something many people experience a few times. Others are hit with it a lot — a whole lot. Usually, these are individuals in positions of authority. You know, the “decision makers.” Although we joke about it, the truth of the matter is, making decisions gets harder and harder as the day goes on. So, let’s look at some ways to avoid decision fatigue. Is Decision Fatigue Actually Real? The short answer to the question above is a resounding, “Yes!” Decision fatigue is real. In fact, two university researchers examined more than 1,000 decisions made by judges in Israel. Said judges either decided to grant or to deny parole. Prisoners who appeared in the morning, about 9 am, fared quite well. Those offenders had a 70 percent chance of making parole. Decision fatigue can seem harmless enough. Spending a few extra minutes deciding between chicken or beef isn’t the end of the world. But what you may not realize is that those little moments of turmoil could be negatively impacting your business. If left unchecked, decision fatigue can lead to reckless behavior like compulsive spending or, worse, the inability to make any decisions at all. —CNBC.com But, by the time mid-afternoon rolled around, those chances dropped down to just 10 percent. The conclusion, of course, was the judges simply used-up their stamina and therefore, took the simplest and safest way out. Ways to Avoid Decision Fatigue Now, if you’ve ever felt “used-up” at the end of the day, like your brain can’t process any more, decision fatigue is a likely culprit. Here are a few suggestions for how to avoid decision fatigue to better your work performance: Start tomorrow today. At the end of every day, start getting things in order for the next morning. Don’t make big decisions. Just get organized so you’re ready to go when you come back tomorrow. While this might seem too simple, it will have a big impact. Make important decisions early. When you start your day, don’t “ease” into it. Instead, challenge yourself by making the most important decisions when you’re most fresh and have new energy. You’ll see things more clearly and have a better sense of which way to go. Stop second-guessing yourself. In the military, some class instructors tell their students to bite the erasers off of their pencils right before starting a test. It’s not literal — it’s a figure of speech. It means your first intuition is typically the right one; so, don’t second-guess yourself. Snack and exercise every day. It’s a very good practice to have a solid but sensible breakfast in the morning. A light lunch is also a sound practice. But, you might feel a bit worn by mid-afternoon. The cure? Exercise and have a small snack to re-energize. What other ways do you combat decision fatigue? Please share your experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.