Business Education

I Want to Create a New Position for My Small Business – So How Do I Go about It?

Entrepreneurs wear many, many hats. It is not at all unusual for a small business owner to perform several different roles. But, this Jack of all trades, master of none can’t go on in perpetuity. The longer it lasts, the less chance there is that the business can scale up. In order to grow a company, it’s necessary to have help and many business owners reach a point where it is unavoidable. So, they make a few hires but still continue to perform various functions until they realize that a new position will free them up to pursue their main goals.

Hiring should Equal Growth

It’s very common for small business owners to be nervous about their first hires. However, they eventually get past this and the team settles into a comfortable routine. This can easily result in a false sense of security and it’s not at all unusual for the owner to slip right back into or continue bad habits.

If a heavy workload causes your employees to feel overwhelmed and frustrated, it may be time to add new positions to your department. Hiring an additional staff member or two can help you split tasks between employees more equitably and give employees the time they need to devote to their work. —Houston Chronicle

Sure, someone has to perform those functions and the owner typically feels it is his or her responsibility. But, there comes a time when it’s clear that handing off at least some of those tasks to someone else would be very beneficial. What generally holds a business owner back is not having a clearly defined position, as they did with previous hires. Fortunately, there are some steps you can take to create a new employee position.

How to Create a New Employee Position for a Small Business

When it becomes obvious that you’re taking on too much, be it administrative tasks or something else, it’s time to seriously consider hiring someone to do that work for you. Here are some steps you can take in order to create a new employee position:

Estimate its ROI. Before you start posting job openings, take some time to work out the most likely return on investment. Ask yourself if one or more of your current employees can assume these responsibilities. If not, then it is more likely you need to create a brand new position. Just work out a realistic scenario on how much this will add to expenses and what size return of investment you’ll get for this potential hire.
Determine if it’s part or full time. Next, you’ll need to determine whether this is a part-time or full-time position. Go over your schedule and create a ballpark figure of how much time you spend on these tasks. This will give you a pretty good idea of the number of hours you’ll give over to a new employee. Plus, it will tell you how much time you gain back doing more important things.
Compile a list of applicable skills. Now, you’ll need to create a list of applicable skills that a new employee would need to possess. This will also tell you if these responsibilities are truly interrelated or if they are a mixed bag. What’s more, it will point you in a more specific direction and help you to hone in on the right personality.
Advertise the new position and interview potential candidates. Last but certainly not least, it’s time to fill the new position you’ve created. Write a job description that defines the role and your company’s expectations, then advertise it in trade publications, and on social media.

What other suggestions do you have for an entrepreneur who is considering creating a new team member role? Please share your experiences and thoughts so others can benefit from your input! Interested in learning more about business? Then just visit Waters Business Consulting Group.

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Personality Hires Spark a Big Social Media Debate. Here’s What Small Businesses Need to Know

July 10, 2024 No Comments

Personality Hires Spark a Big Social Media Debate: Here’s What Small Businesses Need to Know Personality hires have recently become a popular topic on social media. While there are numerous reasons, perhaps the biggest is the concept resonates with many people, particularly younger generations like Gen Z, who often feel that they bring value to the workplace through their interpersonal skills and positive energy, even if they may not have extensive technical skills or experience. This launched a trend where individuals celebrate being “personality hires,” often in a humorous or self-deprecating manner, sharing their experiences and insights on platforms like TikTok and Twitter. Also, the rise of remote work and changing workplace dynamics have made the concept of personality hires more relevant. As companies focus on building strong team cultures and maintaining employee engagement, the value of employees who can foster positive relationships and boost morale has become more apparent. This has sparked discussions about the importance of hiring for cultural fit and soft skills, in addition to technical abilities. What to Know about Personality Hires As stated above, personality hires refer to the practice of hiring employees based on their personal traits, interpersonal skills, and cultural fit, rather than solely on their technical skills or experience. This approach emphasizes the importance of an individual’s personality in the workplace, as it can significantly impact team dynamics, collaboration, and overall company culture. Pros of Personality Hires This isn’t a completely new concept. But since it’s a decidedly different approach than traditional thinking, it can be difficult to see the benefits. So, let’s take a look at some of the advantages these job candidates can bring to the table and why they could be a good fit for an organization: Enhanced team cohesion. Employees with compatible personalities often work better together, reducing conflicts and improving team dynamics. A personality hire can help foster a positive and collaborative work environment. Improved relationships and communication. Personality hires are typically good communicators and can help improve relationships among team members and between employees and management. This can lead to better collaboration and problem-solving. Adaptability and learning potential. Candidates hired for their personality traits, such as openness, adaptability, and eagerness to learn, may be more effective in growing into their roles and taking on new challenges compared to those selected solely for their current skill set. Reinforcement of cultural norms and values. Hiring for personality allows organizations to reinforce the cultural norms and values that make them unique, fostering a workplace where employees are aligned with the company’s core beliefs and behaviors. Additionally, personality hires offer the potential for a new way of approaching an industry. These individuals may perceive things differently and be able to take a novel viewpoint no one else has thought of before. Cons of Personality Hires Now, as you well know, there are downsides to any proposition. Sure, this could bring a small business plenty of great experiences but it’s important to be aware of potential problems that could come from personality hires, like the following: Risk of skill gaps. Focusing too much on personality might lead to overlooking essential skills or technical deficiencies, potentially resulting in performance issues if the hire cannot meet the technical demands of the role. Overemphasis on likeability. There’s a risk that highly likable candidates may be favored over more qualified ones, which can impact the overall productivity and effectiveness of the team. Potential for bias. Personality-based hiring can introduce bias into the hiring process, as it relies heavily on subjective judgments about an individual’s character and fit within the organization. Conflict among team members. Personality hires can sometimes create tension or conflict within the team, especially if their personality traits clash with those of other team members. Small businesses should carefully consider the pros and cons of personality hires when making hiring decisions. While personality hires can bring considerable benefits to a workplace, including improved team harmony and cultural alignment, it is crucial to maintain a balanced approach. By carefully blending personality assessments with skill evaluations during the recruitment process, organizations can ensure they not only hire employees who fit into the workplace culture but who are also well-equipped to contribute to the company’s success. Ultimately, small businesses should prioritize hiring individuals who possess a combination of strong technical skills and a compatible personality that aligns with the company’s values and culture. 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,

Entrepreneurs, Let’s Talk Frankly About the Dreaded “S” Word

September 19, 2024 No Comments

There are many experiences entrepreneurs will thoroughly enjoy building up a business, but there are also circumstances they anxiously dread. The proverbial roller coaster ride of running a business is something that delivers a plethora of challenges and rewards alike. Still, for all the difficulties, most individuals learn to adapt and successfully transform problems into solutions by making them valuable learning lessons. Although nearly half of all new businesses fail within the first 3 to 5 years, others cannot only persevere but profit and gain an impressive track record that even exceeds their expectations. Some entrepreneurs find themselves far more successful than hoped and enjoy long and fulfilling careers. However, nothing lasts forever and this inevitability can be a very frightening reality for those who are unprepared. These individuals face a very stark set of circumstances, having to come to grips with the fact they cannot run the company forever because every entrepreneur must take on the unenviable challenge of handing the company over. Whether they want to utter the word aloud or not, all business owners must deal with the dreaded “S” word: succession. Business Succession Planning Shouldn’t be So Scary You went into business for yourself and now, it’s thriving. Earnings are up, costs are down, and you’ve got a great team around you, even better, very happy customers. At this point, it feels like everything has finally come together. You made it through the trials and tribulations, and now, you’re feeling financially secure. The future looks right, but then you realize your business won’t always be yours. Maybe you’re lucky enough to have trusted family step up and take your place. But, even family businesses aren’t immune from incompetent or lazy people who you just cannot trust to take the reins. This means crafting a clear and actionable succession plan. Creating a succession plan is crucial for business owners, yet many are apprehensive about actually doing it. So, let’s talk about why it’s important and better yet, how to overcome that hesitation. The Importance of Succession Planning A succession plan is vital for business owners as it guarantees a smooth transfer of leadership and ownership when key figures retire, leave, or pass away. It helps maintain operations without major disruptions, preserves the company’s value, and secures its long-term legacy and stability during transitional periods. Here are the reasons why having a plan in place is critical. First of all, a succession plan greatly aids business continuity. It ensures the company can continue operating smoothly in case of unexpected events like illness, death, or retirement of key leaders. Secondly, a succession plan helps to preserve value. A well-planned transition maintains the business’s value and reputation, protecting stakeholders’ interests. Third, it reduces uncertainty because it provides clarity for employees, clients, and partners about the company’s future direction. Additionally, a meaningful succession plan facilitates strategic planning by encouraging long-term thinking about the company’s goals and leadership needs. What’s more, having a well-thought-out succession plan minimizes conflicts. This is due to the fact that clearly defined succession plans can prevent disputes among potential successors or family members. 7 Effective Ways to Overcome Your Apprehension As you know, running a business isn’t just about managing employees or keeping customers happy. Often, the challenges are more personal. Many business owners find themselves sacrificing valuable family time, personal hobbies, and social activities in order to grow and sustain their company. One of the most feared challenges is handing the company over to another person to run it. This can easily lead to unnecessary and perhaps damage-inducing procrastination. While apprehension about such scenarios is natural, it’s important to take control and get over your fear by taking the following steps: Start early. Begin planning well before you intend to step down. This removes immediate pressure and allows time for careful consideration. Break it down. Tackle the process in smaller steps rather than trying to create a comprehensive plan all at once. Seek professional advice. Consult with lawyers, accountants, and business advisors who can guide you through the process and address specific concerns. An experienced business coach is an invaluable resource in these situations. Involve key stakeholders. Engage trusted employees, family members, or partners in discussions to gain different perspectives and build support. Focus on opportunities. View succession planning as a chance to secure your legacy and ensure the business thrives beyond your tenure. Also, educate yourself. Learn about successful succession stories in your industry to gain insights and inspiration. Consider multiple scenarios. Develop plans for various situations (e.g., planned retirement, unexpected illness) to feel more prepared for different outcomes. Regularly review and update. Treat the succession plan as a living document that evolves with your business, reducing the pressure to create a “perfect” plan immediately. (Be sure to periodically review and update your plan as needed so it accurately reflects the current situation and is viable for near-future use.) By taking steps to overcome apprehension, business owners can better secure their company’s future and their legacy. Although doing so may create anxiety and uncover some unpleasant realities, this is absolutely necessary to maintain the health and integrity of the company. 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 480-636-1720, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

Younger Workers No Longer Want to Become Managers – Here’s How to Get Them Interested Again

December 15, 2023 No Comments

Younger Workers No Longer Want to Become Managers – Here’s How to Get Them Interested Again The corporate world is undergoing a significant shift in employee aspirations. While climbing the corporate ladder and assuming managerial roles were once coveted goals, younger generations are increasingly expressing disinterest in this traditional path to success. This trend poses a challenge for businesses seeking to nurture future leaders and maintain a healthy organizational structure. Understanding the Root Causes: Why Younger Workers Shy Away from Management So, just what is happening and why is it happening? Well, there are a number of possibilities. But, there appear to be several distinct factors that have been contributing to the ongoing and declining interest in managerial positions among younger generations, which include the following: Work-life balance. Younger workers prioritize a healthy work-life balance, often viewing management roles as demanding and time-consuming, potentially leading to burnout and sacrificing personal well-being. Changing work values. Younger generations value autonomy, creativity, and making a tangible impact. Traditional managerial roles may not always align with these values, leading to feelings of dissatisfaction and a lack of fulfillment. Perceived lack of recognition and rewards. Younger workers often perceive managerial roles as offering limited opportunities for growth, recognition, and financial rewards compared to other career paths. Fear of failure. The prospect of taking on increased responsibilities and facing potential failure can deter younger workers from pursuing managerial positions. Lack of role models. Younger workers may also lack visible role models or mentors who can demonstrate the positive aspects of a management career and provide guidance and support. Bridging the Gap: Strategies to Motivate Younger Workers to Move Up the Ladder To address this challenge and encourage younger workers to embrace leadership roles, businesses can implement several strategies: Highlight the positive aspects of management. Emphasize the benefits of management, such as the opportunity to make a significant impact, develop leadership skills, and contribute to organizational success. Promote work-life balance. Demonstrate a commitment to work-life balance by offering flexible work arrangements, encouraging vacations, and promoting a culture that respects personal time. Provide opportunities for growth and development. Offer comprehensive training and development programs that equip younger workers with the skills and knowledge needed for managerial roles. Recognize and reward accomplishments. Foster a culture of recognition and reward, acknowledging and appreciating the achievements of both individual contributors and managers. Create a supportive environment Cultivate a workplace environment that fosters open communication, mentorship, and opportunities for younger workers to learn from more experienced colleagues. Additional Tips for Motivating Younger Employees Beyond addressing the specific concerns surrounding management roles, businesses can further motivate younger employees by: Empowering employees. Provide employees with autonomy and decision-making authority, fostering a sense of ownership and engagement. Encouraging creativity and innovation. Create an environment that encourages creativity, innovation, and risk-taking, allowing younger workers to contribute their fresh perspectives. Providing opportunities for meaningful work. Assign employees to projects that align with their interests and allow them to make a tangible impact on the organization. Offer useful and constructive feedback. Provide regular, constructive feedback that helps employees develop their skills and advance their careers. Promote from within. Demonstrate a commitment to internal promotion, allowing younger workers to see their career path within the organization. By addressing the underlying reasons for younger workers’ reluctance to pursue management roles and implementing strategies to foster a more appealing career path, businesses can revitalize the interest in leadership positions and cultivate a pipeline of future leaders who are both motivated and equipped to take on the challenges and rewards of management. Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you love. Isn’t that why you started your business? 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. Call us for your free appointment at 6024355474, or send us an email. Or, visit Waters Business Consulting Group to learn more about us and the services we offer.