Mike Michalowicz's Blog, page 101
January 5, 2015
Episode 9: Employee Engagement And Profit Strategies With Robb Braun
Public Speaker, Corporate Trainer and Leadership Coach, Robb Braun, joins Episode 9 of the Profit First Podcast. Robb explains the importance of having a motivational work environment and how to get your employees engaged.
Our Guest
(Mike Michalowicz & Robb Braun)
Robb Braun is an accomplished Public Speaker, Corporate Trainer and Leadership Coach on a mission to empower business leaders to create work environments that foster employee greatness – motivation, loyalty, productivity, initiative and drive. He works with progressive, energetic companies who want to stay relevant, and helps them to transform from surviving to thriving. Robb is the Founder and President of The Leadership Source, and is a Profit First Strategist who brings over 25 years experience. Throughout his career he has touched the lives of over 50,000 participants in his personal growth and corporate trainings throughout the world, primarily in the realm of leadership success. There is no metaphoric place Robb is unwilling to travel to ensure his audiences and clients experience and achieve ‘unreasonable’ success in their personal and professional development.
Show Quotes
Increasing employee engagement ultimately translates into more bottom-line dollars.
In corporations, 3 out of 10 people are fully on board and engaged, meaning they’re aware of the mission and why they’re there; all of their energy is in the project. 5 out of 10 people are sleepwalking – they haven’t decided yet and are just showing up. 2 out of 10 people are actually working against forward movement.
It does not matter if you have 1,000 employees or 5 employees, it’s all handled the same.
The number one complaint from employees is that they don’t get enough information about where we are (as an organization) and where we’re going.
In reference to Robb’s friend, Grant Cardone: Money is important. If we’re talking about business, we’re talking about money. we’re not going to demonize it but we’re going to give it it’s due. It’s important, we need to talk about it. It’s about the profit. It’s important to talk about it in an organization – let that be an understanding that this is how we measure how we do in business.
Having a legitimate strategy around profit has freed me up in so many ways. Not knowing sucks and hurts business. Knowing is power.
Show Links
Show Sponsors
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
The post Episode 9: Employee Engagement And Profit Strategies With Robb Braun appeared first on Mike Michalowicz.
January 2, 2015
6 Big Mistakes To Avoid When Buying A Business
Have you considered the possibility of purchasing a business? If so, there is a good chance that you may make one of the many mistakes that are common in people purchasing pre-existing businesses. But it doesn’t have to be that way; you can take steps to avoid these problems. The more you know what the frequent errors are, the more you can work to avoid them.
Pitfall Avoidance
Buying a business can be your worst nightmare, or it can be the greatest move you ever made. But a lot of what determines which it will turn out to be occurs prior to the transaction actually taking place. Like most situations, the more homework you do when considering the purchase of a particular business, the better off you will be if it comes down to making the actual purchase.
Here are six of the biggest mistakes that people make when buying a business:
1. Due diligence failure. Businesses that are for sale need to paint the most promising picture they can. Why else would you buy? It’s kind of like realtors working with homeowners to stage the home when they put it on the market. The business owners may try to make the business look amazing, but you shouldn’t take it at face value. You have to follow up and investigate, to ensure that what they say is accurate.
2. Thinking that culture doesn’t matter. Take a frozen mug and pour hot water on it. What happens? It cracks! It is the same thing with business cultures. Buying a small business that runs like a family and putting it into a corporation that runs like, well, like a corporation, and it will most likely crack. You have to take the company culture into consideration, and determine if it will be the same once you, or your team, enter the picture.
3. Merging too fast. Change that takes place at a slow but constant pace will work much better than change that happens too quickly. When change happens fast, there are often too many breaks and problems that arise as a result. Taking over a business is a major decision, one that you certainly don’t need to rush. Aim for a slow, smooth transition to get the best results.
4. Leaders don’t participate. To be a good leader, you have to be there, participating on a routine basis. The leadership of the acquiring company needs to participate, not just beforehand, but also after the deal is done. It is imperative that they show their faces and do their job, which is to lead!
5. Knowing the org chart, but not the social chart. Every company has an organization based on title, but there are is something more power than titles – the social influencers in the business. Those who acquire a business need to find out who those people are. Susan the receptionist, who brings in treats from home every day and is loved by every employee, can actually be more important than the CEO. And the acquirer needs to know this!
6. Not negotiating properly. Let’s face it – a lot of people are not so good at negotiating. If someone wants to sell their business, you have the upper hand and should use it to your advantage, negotiating terms that are more comfortable for you. If you are someone who has a difficult time playing hard-ball, then bring in someone to do the negotiating for you. Believe me, they will be well worth the expense, making up for it in what they can save you, over time.
Ready to Roll
Only once you have done your homework are you ready to actually buy a business. This is one sale that simply cannot fall into the “impulse purchase” category. It has to be something you have fully investigated, believe in, know all about, and are confident and comfortable stepping up to take over.
The post 6 Big Mistakes To Avoid When Buying A Business appeared first on Mike Michalowicz.
January 1, 2015
Marketing: 6 Reasons Why Reverse Psychology Works
In 1961, William McGuire developed a theory that he called the Inoculation Effect. He used the theory – based on the medical practice of inoculating patients to confer disease resistance – to describe the process by which we can become resistant to attempts to persuade us. It turns out that we develop resistance by being forewarned, or educated, about future attempts to persuade us. There’s ample evidence to support the theory, most notably a study of a group of children who were educated about cigarette companies’ attempts to persuade these students to start smoking – once they come of age, of course. This early education not only resulted in higher resistance to the appeal of smoking at one and two year follow-ups, but the study showed long-lasting results as well.
What does this have to do with growing a business? It means that you have to work harder to attract customers, and you may have to take a novel approach, given the fact that consumers have been assaulted by tactics like the Home Shopping Network’s countdowns – “Only three minutes left…..operators are standing by” – and consumers are more savvy and more skeptical of the attempts to manipulate their behavior.
What’s the answer? It’s absolutely revolutionary, and it’s completely contrary to what consumers expect – it’s a bit of reverse psychology, in that you’re giving folks something different. You tell the truth. Just when your prospect is expecting to be worked over, you are completely honest, and you will be shocked at the results.
Let’s take a look at some techniques in which honesty is your ticket to closing sales.
1. Use the Inoculation Effect to your advantage. When you know that your prospect is making a choice between you and your competitor, share the information you have about your competitor’s sales tactics. If you alert the prospect to the fact that “some businesses” will price their wares deceptively or will try a little bait and switch, then you’re instantly decreasing the effectiveness of those tactics on your prospects. Remember – being honest is paramount. Don’t make things up or exaggerate.
2. Explain how you’re different from the rest of the industry. Related to #1, this technique inoculates your prospect against the industry standard. This technique is brilliant if you have a point of difference from all the other guys. If you’re a caterer, maybe everyone else tacks on outrageous charges for china and flatware rental, but you’ve found that it’s always cheaper for your clients to arrange those items themselves. You’re priming them to object to those charges in other caterers’ quotes, and you’ve set yourself apart from the crowd.
3. Don’t offer more; offer less. A la carte ordering – regardless of the industry – is the new standard, and consumers are flooded with a mind-boggling array of choices. They’re used to being told that more choices are always better. Here’s the inside scoop, though: studies have repeatedly shown that too many choices can result in analysis paralysis – customers frozen into indecision by too many choices. Customers want to feel like they’re in control…but only to a certain point. Your best bet is to always offer exactly three choices. You’re the expert; use your knowledge to present your client with three good choices, rather than trying to dazzle them with everything you can do, regardless of whether it’s right for them. Buck the trend.
4. Give prospects an easy out. We’re all so used to high-pressure sales techniques, that we’re positively refreshed when that pressure doesn’t materialize. If you make your pitch, try ending by telling the prospect that you understand if they think your product isn’t a fit for them. Evidence shows that your close rate stays about the same, but here’s the really powerful part: Your clients’ confidence increases, and you eliminate buyer’s remorse. If they make the decision based on their preference, rather than because of undue pressure, then they’re happy with their choice. They don’t expect you to favor their confidence over your sale.
5. Disqualify your client. This technique can be tricky because it only works when you’re being honest, and the reason I know is because it worked on me. When my wife and I were bed shopping years ago, the sales person saw us – a young couple – and walked us past the pricy Tempurpedic beds to the ones she thought we could afford. When I asked about the ones we’d passed by, she told me that we couldn’t afford those and she was prepared to show me ones in my price range. Of course, I had to prove her wrong, and we walked out after having bought the Tempurpedic bed. Presenting your clients with affordable options and dangling the deluxe versions as just outside their price range can trigger a willingness to spend more. Remember, though, the goal isn’t to manipulate – you don’t want to push your clients to make bad decisions. The better bet is to persuade – give them the opportunity to make the decisions that will make them happy and give them what they really want.
6. Use the 1-10 rating system – with a twist! One typical sales technique asks a prospect to rate his attitude toward your product after you’ve made your pitch. The prospect will respond with a number – say 6 or 7 – and your job as a sales person is to persuade them higher. What I’ve found to be effective is to use a little reverse psychology – tell them you’re surprised, that you thought they’d be at a 3 or 4. The magic is what happens next. Your prospect starts explaining to you why their number was higher – in effect selling you on the virtues of your product. The next thing you know, they’re at a 9, and you’re closing the sale.
The marketing landscape is crowded, and prospects are increasingly jaded by the clamoring of sales people and special offers. Folks crave authenticity and honesty, and if you can do the opposite of what’s expected by being forthright, you’ll end up way ahead.
The post Marketing: 6 Reasons Why Reverse Psychology Works appeared first on Mike Michalowicz.
December 31, 2014
9 Ways To Get Your Team To Support An Idea They Hate
We’ve all been there – you’re introducing a new initiative or making a change in your company, and you know that your staff’s not going to be thrilled. Sure, you’re the boss, and what you say goes, but you know in the long run that you’ll be better off if your team is on your side.
If your staff doesn’t understand or support your ideas, it can cause big problems – from subconscious behaviors that undermine your chances of success to – worst case – deliberate sabotage. It’s worth taking the time to get your team united behind your decision … and here’s how to do it:
1. Give them ownership. People like their own ideas better than other people’s. So what do you do? You give them ownership of the ideas you want to implement. Hold a meeting and present your thoughts on the situation you plan to address. Guide the discussion so that it goes in the direction you’ve already decided is right, and let your staff make their own journey to arrive at the same conclusions you have. Taking them through your process helps your staff understand why your idea is a good one, and they understand the reasons behind it as well.
2. Use the power of writing. When the signers of the Declaration of Independence put their John Hancocks on the famous document, they were making their position, their allegiance, and their intentions clear and public. Similarly, if you draft a plan and get your staff to sign it to indicate their understanding and commitment to your idea, they’re publicly, indelibly on the record as being on board. Employees who publicly commit to seeing your plan through will be more likely to work for that plan’s success.
3. Communication is key. It is always, always to your benefit to cultivate an open and honest exchange of ideas and information in your office, and the success of your new initiatives can often live or die based on how well you and your staff communicate. Keep your door open and solicit feedback.
4. Give them an outlet to vent. If you’re encountering stiff resistance, sometimes your best bet is just to let your staff have a bitch session. Commit to listening and considering their objections, let them blow off steam, and then get them on your side and put them to work.
5. Compromise. You’ve worked hard to assemble a staff of talented folks. Use them! If you’re convinced that your initiatives are divinely inspired and infallible, then you’re missing out on one of your greatest resources. Often the very best ideas are those that have been refined by compromise among multiple perspectives. Let your staff make you better.
6. Show progress. We like to feel like we’re making headway. Restaurants that have customer loyalty cards – you know, where you buy ten sandwiches and the eleventh one’s free – discovered long ago that customers whose cards are punched feel more motivated to come back and fill the card the rest of the way. Likewise, giving your staff updates on your measurable progress will keep them inspired to continue working hard toward your goal.
7. Reward publicly. Positive reinforcement is unbelievably powerful, and it works particularly well for the staff members who might not have been as enthusiastic about your idea initially. Single out one of the folks who was on the fence and point out how much they’ve accomplished and contributed to the cause.
8. Flip the conversation. If you have an employee or a partner who’s really opposed to your idea, it can be useful to flip the scripts. If each of you argues the other side of the issue, you might end up refining your idea based on benefits or drawbacks you might not have seen. You can refine your argument and your ideas by taking on another perspective.
9. Reevaluate. Sometimes your idea just stinks, and you need to step back and reconsider it. You’ve hired talented people, and you should avail yourself of their valuable insight. Being willing to admit when your idea isn’t stellar makes you stronger in the long run, and it can keep you from making disastrous decision that aren’t in your company’s best interest.
Enlisting the support, talents, and insight of your team can be the difference between an idea’s brilliant success or dismal failure. Taking the time to sell your staff on your idea and get them behind you is a step that ensures long term success.
The post 9 Ways To Get Your Team To Support An Idea They Hate appeared first on Mike Michalowicz.
December 30, 2014
How To Get In Front Of Any Decision Maker
One of the most important aspects of sales – whether you’re dealing with products or services – is getting in front of the decision maker. Most entrepreneurs have faced the situation of making a brilliant pitch, only to discover that all of their time and energy went into convincing the person who isn’t authorized to pull the trigger. None of us has the time to spin our wheels. When you need to make the sale, you have to get to the person in charge.
My mother always told me to ask for what I wanted, so when I faced the challenge of getting access to the decision maker, I figured that being straightforward was the best tactic. Wow, was I wrong! Decision makers are inundated with competing claims on their time and attention. They’re besieged by phone calls, emails, and even in-person visits – all of which have the same goal: to get a few minutes of time to make a pitch.
As a result, decision makers are better at saying no than you can possibly imagine. They’re masters at shutting people out and limiting access. They have to be.
Think it’s impossible to get the ear of a decision maker? It’s not, but the key to getting your foot in the door lies in taking a different approach – one rooted in patience and persistence … and leveraging the power of the decision maker’s ego.
The very best way to get in front of a decision maker is to ask for advice, and I’ll share a little success story from one of my businesses – the moment that I cracked the code and figured out a way to get inside, nearly every time.
I used to run a business that offered computer forensic services. As I was building and growing my business, there was one company whose business I was dying to land. I’d tried everything – pitches to folks who had the ear of the decision maker, direct appeals with guarantees of my results … nothing worked. I was completely shut out.
This company was big and very successful, and they had a fair bit of employee turnover and had to deal with theft of intellectual property from time to time, so they had a real need for the sort of forensic services I offered. I knew that we were a perfect fit, but the problem was that the company handled its IP troubles in house. I could do a better job, but I couldn’t get to the head honcho to convince him.
Until it hit me: these decision makers are courted by everyone, all day, every day. They have good-sized egos as a result, and if I could find a way to use that ego – in a way that’s honest and ethical, of course – I might be able to find an in.
So I wrote a letter to the guy in charge, and I didn’t ask for a meeting to make a sales pitch – in fact, I promised NOT to make a sales pitch. Instead, I asked for his advice. I asked him to become my mentor. I explained to him that he was my ideal customer, and I wanted his valuable advice on ways in which I could elevate my level of service in order to attract companies like his. I asked for fifteen minutes of his time, and I reiterated that I wouldn’t be making a sales pitch.
He agreed. I was in.
I had my brief meeting. I asked questions and listened carefully to the advice he offered. I made notes on all of the things he wanted in an ideal vendor, and when the meeting was over, I got to work implementing the strategies he’d recommended. When I’d made the improvements he’d recommended, I asked for a second meeting – again making the promise not to try to sell him anything. We reviewed the changes I’d made, and he offered more advice about how to refine my company’s services even further.
Again, I took the advice back to the office and got to work. When the third meeting rolled around, I showed him the changes I’d made, and I could see the pride he felt in my achievements. He felt invested in my success, and he wanted to see my company flourish. He looked at me over his desk and said the magic words: “I want to be your customer.”
What had happened was that my dream client had given me advice on how to sell him – all without realizing it. By asking for advice, rather than his business, I’d earned myself a valuable mentor, and I’d gotten exactly what I’d wanted – the sale. I’d gotten the sale because I’d earned it by applying the advice I’d solicited.
Here’s the deal with this technique – it’s not a trick. When you ask a decision maker for advice, you have to keep your word about not trying to make the sale in your meeting, and you also have to be willing to implement the advice you receive.
This technique requires dedication and patience, but it’s amazingly effective. It doesn’t work every single time – sometimes decision makers aren’t eager to spend their time doling out advice. But when I get that first meeting, odds are good that I’ll be closing a deal in the future.
The post How To Get In Front Of Any Decision Maker appeared first on Mike Michalowicz.
December 29, 2014
Episode 8: Profitable Business Growth With Kim Pollard
Kim Pollard, founder of Bookkeeper Girl, joins Episode 8 of the Profit First Podcast. Kim explains the importance of business growth and money management.
Our Guest
Kim Pollard launched Bookkeeper Girl with a laptop, a loyal client and a Vision to have her company known as America’s Bookkeeper.
Through the use of technology, a team full of talented women, and a foundation of faith, Bookkeeper Girl continues to open new locations & serves small business owners across the nation with bookkeeping and payroll services delivered to their fingertips for pennies on the dollar.
Prior to starting Bookkeeper Girl, Kim was a staff accountant for Richard F. Amsberry, P.C., a CFO for Oakwood Property Company, and a staff accountant for Cameron Gulley, CPA. Before joining the accounting world, Kim served as executive director for Meels-on-Wheels in Callahan County, TX, where she brought in numerous grants and volunteers to support the much needed program for the elderly citizens of the rural county. Kim continues her charitable works through her company Bookkeeper Girl, giving back to women’s organizations, education programs, and green initiatives.
Kim is a member of the Denton Chamber of Commerce, where she chairs the Small Business committee and serves on the Women in Commerce board. She is also a member of the Texas Women in Business, National Association of Professional Women, and Women Business Owners of Denton County. Recently, Kim has partnered with nationally known author Mike Michalowicz educating small business owners on how to drive Profits First in their business. Her firecracker, hungry, creative serving spirit keeps her known as one of the most authentic, caring, and best Bookkeeper around.
Kim received her degree in accounting and has three children, and currently has become a “Grammy.” You can find out more about Kim and Bookkeeper Girl on Facebook, LinkedIn, Google Plus, and many other social media channels. Google her!
About Bookkeeper Girl – Bookkeeper Girl provides personalized online bookkeeping and payroll services for the franchisee, franchisor, and small business owner for all industry types in Denton, Dallas, Abilene, Austin, TX, and many other states in the US. Affordable, Online, and Trustworthy have proven to be the key traits to our success. When you join our team, you receive weekly bookkeeping, monthly bank & credit card reconciliations, a partnership with your CPA, and a team whose customer service skills bring maximum benefits to you and your team! Find more information about Bookkeeper Girl on our website at BookkeeperGirl.com.
Show Quotes
Two things businesses struggle with is [store] space and advertising.
We never want to turn business away… we stay hungry.
Every sales lead is unique on it’s own; we have a base formula we start them off with, and then they set their own limits.
When times are good, continue to be frugal. Stay hungry! The hungrier you are, the more you will keep delivering at the rate and speed you need to to ensure future service.
Kim’s favorite quote about profit: “We make a LIVING by what we Get. We make a LIFE by what we GIVE.” – Sir Winston Churchill
Show Links
www.facebook.com/bookkeepergirl
www.twitter.com/bookkeepergirl
Press Inquiries – Melissa Cox, PR for Bookkeeper Girl | 469-288-2084 | melissa@ACLARUSme.com
Show Sponsors
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
The post Episode 8: Profitable Business Growth With Kim Pollard appeared first on Mike Michalowicz.
December 26, 2014
Marketing Through Your Customers
We all know an effective marketing campaign can be the key that unlocks the door to a world of new customers. The trouble is that consumers are buried under a sea of images and attempts to separate them from their money. What’s ideal is word of mouth – the better-than-anything-you-could-pay-for form of spreading the word about companies and products worth supporting. Your customers actually do your marketing for you, and you simply continue delivering the high quality product they’re raving about.
But how do you get your customers to do it? Let’s look at a few companies who’ve done it right.
On May 9, 2013, an article was published by a journalist who’d stopped in Dominique Ansel Bakery in New York City and asked what was new. The staff had offered the journalist a taste of a new product that would launch to the public on the day after the article was published. On May 10, 2013, the Cronut ™ was born. There were customers waiting outside the little bakery, lined up to sample the delectable baked good they’d read about.
By the end of the week, the line outside Dominique Ansel Bakery was one hundred people long. People stood in line to sample the Cronut ™ they’d heard about from their friends. And they didn’t just buy one Cronut ™; they bought lots of them – as well as all of the other unique, handmade pastries the shop produces.
Now the Dominique Ansel Bakery is a small business. They don’t have a big marketing department who dreamed up the Cronut™ as a publicity stunt. They simply embrace the creativity inherent in baking, and word of mouth pulls customers from all over the world into the little shop. It’s organic. It’s natural. It’s the power of word of mouth.
Another great example of a company whose customers are ardent fans is a well known jewelry store (whose name I can’t share with you.) Their policy for purchases of engagement rings is pure genius. A couple selects a ring – say a diamond of one full carat. The jewelry store has a secret upgrade policy, and they supply the client with a stone that’s just a little larger than the one they paid for. When customers take their one carat ring to an appraiser, they discover that it’s a carat-and-a-quarter. The customer – stunned at having received more than they paid for – returns to the jewelry store, at which point the jeweler thanks them for their business, tells them about the secret upgrade, and – here’s the genius part – asks the customer not to tell anyone about the secret upgrade.
But the customer does tell. The customer tells everyone he can think of about the spectacular customer service he received and about the exceptional value the jeweler provided. That customer ropes in hundreds more customers, and the jewelry store doesn’t do anything except make customers happy and wait for new customers to pour in. It’s brilliant.
So we know small businesses can make a splash by capitalizing on their fans and encouraging satisfied customers to tell all their friends. But what about larger businesses – say the size of FedEx? As it turns out, even behemoths can benefit from getting customers to chatter about them – even if the topic of discussion is something relatively minor – like the company logo. It turns out that embedded in FedEx’s logo is a neat little “secret.” Once you see it, you won’t ever be able to see a FedEx package or truck without thinking about it. There’s an arrow in the logo – a perfectly appropriate little symbol for a company that moves things from one place to another, and that arrow generates more interest than you’d think. Once you know it’s there, you’ll find yourself pointing it out to other people, who, in turn, do the same for their friends.
Think about it – an arrow in a logo generates chatter. Simple, logical, genius.
Whether customers are sharing a Cronut ™ with a friend, or whether they’re swearing a coworker to secrecy about the jewelry store secret upgrade they swore not to divulge, if you can get your customers talking about you, your company, and your brand, then you’re starting a marketing trend that can not only become self-sustaining, but can also bring more customers than you’d ever dreamed of – right to your door.
The post Marketing Through Your Customers appeared first on Mike Michalowicz.
December 25, 2014
Deliver A Killer Speech With These 7 Techniques
William Shakespeare told us that “brevity is the soul of wit.” The always colorful Dorothy Parker adapted Shakespeare’s aphorism and taught us that “brevity is the soul of lingerie.” My humble contribution to the power of getting to the point is that brevity is essential to powerful public speaking. Whether you’re taking about the length of a speech or the number of points you plan to cover, one of the most important qualities of effective speeches is that they’re relatively short. Think Abraham Lincoln’s Gettysburg Address and Dr. Martin Luther King Jr’s “I Have a Dream” speech. They’re both powerful in their brevity.
A speech’s length is only one factor you need to consider when you’re preparing for an event. Here are seven more techniques that will make your speech memorable:
1. Deliver a performance, rather than a speech. A speech is primarily about the words that you speak, but a performance is so much more. It’s inflection, gesture, tension, resolution, and suspense. Don’t believe me? Go see a one-man (or woman) play and you’ll instantly see what I mean. Performers work hard at capturing and keeping an audience’s attention, and words are only one tool in their arsenal. Don’t stop working once you’ve written the text of your speech.
2. Use the power of eye contact. Bill Clinton was the master of eye contact. Members of the audience during his speeches felt like they were leaving after having made a personal connection with Clinton – every single one of them. Your audience is made up of individuals, and you should make an effort to make eye contact with each of them. Eye contact makes a person feel personally engaged in a speech, and engaged listeners are much more likely to be persuaded.
3. Don’t hide behind the lectern. The lectern is a crutch – a structure built to conceal knocking knees and shaking hands. It’s a barrier between you and your audience, and you must step out from behind it. Not only will your movement keep folks from falling asleep, but they’ll perceive you as more open and accessible if you’re out in the open rather than hiding behind a big wooden barrier.
4. Posture matters! Don’t ever, ever slouch. It looks weak, and your message will inevitably be diluted by what your audience perceives as a lack of confidence. Stand up straight and keep your shoulders back. If necessary, there are devices that you can wear under your clothes that will help you stand up straighter. On the topic of clothes – never let ‘em see you sweat. Even if there are lights that make the stage feel like an oven, pit stains on your shirt are distracting. Make sure you wear clothing that will conceal any signs of nervousness. Project confidence. Always.
5. Tell compelling stories. The power of storytelling lies in the images that your audience will create in their heads as you spin your yarn. Rather than just loading folks up with information, if you tell a story, you’re making them active participants in your performance. Stories – brief relevant stories – are a powerful tool.
6. Vary your cadence. Deliberately mixing it up in terms of your speech patterns – volume, speed, and tone – keeps your audience from being lulled to sleep by a monotone. With regard to speed – slower is always better than fast. When in doubt, slow down and let the tortoise mind catch up to the rabbit speaker. If you know you’re naturally a quick talker, you can build pauses into your speech – things like “Now think about that for a moment,” or “Let that sink in.” It will take your audience more time to process your points than it will take for you to articulate them. Give them time to ponder your brilliant message.
7. Speak about what you know (and care about.) Passion translates into energy and authenticity, and that matters to your audience. If you’re not invested and engaged with your subject, why on earth would your audience care? Emotion pulls the audience in and gets them involved in the process. If you find that you’re not moved by your topic, modify it until it matters to you. If you’re going to invest the energy in writing and delivering a speech, it should be on a topic that’s important to you.
You’ll notice that I didn’t give you any advice about content. That’s because you’re the expert on the subject. You’ve been invited to speak because you’re the go-to person in your field. You don’t need my help putting together your main points, but using the techniques I’ve shared with you will help you deliver your message in a compelling and memorable way.
The post Deliver A Killer Speech With These 7 Techniques appeared first on Mike Michalowicz.
December 24, 2014
How Do Business Retreats Impact Your Company?
According to the dictionary, a retreat is a place of privacy or safety. What they don’t tell you is just how effective retreats can be in helping to advance your business. They are an important part of bringing together key people in your company, at a well-planned destination, so that you can build camaraderie, enhance leadership, and give your team the extra push that they may be need.
Setting Sail
I am about to embark on my annual retreat. In doing so, I am heading out with my board of directors for three days, in order to enjoy bonding and building the business. Every year, I come back with fresh perspectives and new insights, totally reinvigorated. An annual business retreat works great for me, and it might for you, as well!
Here are some tips on how to pull off the ideal business retreat:
1. Hold your business retreat at least one hour away from the office. The last thing you want is it to be interrupted with excuses about needing to “take a break,” and use it to head into the office for 15 minutes. The idea of a retreat is to leave the office behind.
2. To get the most bang for your buck on a business retreat, you really need to make it an overnight event. This helps keep everyone from staring at their watch all day, assuming that when 5:00 hits, they get to jet. Overnight retreats let people relax and not rush the experience.
3. Aim to have all your meals together as a group. This will be a great time for bonding and personal insights to occur. And when people feel more connected and more trusting of each other, they will work together way better.
4. Undertake an activity or two. The retreat should not be about simply taking a break. Rather, it is about doing something where you have fun together. Where you laugh together and challenge each other. The whole idea is that, at the end of the event, you have something to talk about. You have built an experience together – a story you can share. And this means more bonding (and we just talked about the power of that, in the above point).
5. Take some small toys along on the retreat – the kind that can be pulled out when you are having brainstorming sessions. You would be amazed at how well small toys, squeeze balls, and Etch-a-Sketches can help to get the creative juices flowing.
6. Before you even head out to the retreat, have an agenda that everyone agrees to, in advance. Make sure you get everyone’s input on the agenda. Being able to help put their insight into the agenda will make them that much more interested in participating in the entire experience.
7. Wrap up your business retreat with compliments. This is the perfect send-off! Have everyone sit around a conference table and, one by one, compliment each person on something specific from the retreat.
Considering Annual
Once you get back to the office, let a week or so pass, so that any initial grievances have a chance to air out. Then follow up to see if there is anything anyone feels should be done differently next year. Whether or not your first retreat goes well, you should plan on doing it annually.
If you find that there are things that should be done differently, make a note of them for when it comes time to plan next year’s retreat. There will probably be a few kinks to work out, at first, as you are learning the ins and outs of holding a business retreat. But do it long enough and it will be on autopilot. And you will likely notice that your company sees a powerful impact from taking this retreat together.
The post How Do Business Retreats Impact Your Company? appeared first on Mike Michalowicz.
December 23, 2014
Are You Losing Money on Payroll? – by TSheets
How to improve your business productivity and save thousands of dollars on payroll each year.
If you have a business with 10 employees making $10/hour, you will overpay close to $5,000 on payroll this year, according to the American Payroll Association (APA). UNLESS…. you use an automated time tracker for employees, that is. Automated time tracking – meaning an automated time capture tool (think online) for your employees – that uploads directly into your accounting or payroll software, is key.
I want to start saving money on payroll. Where do I go from here?
First let’s establish the criteria for a good online time tracker, to help you start saving thousands of dollars (and a whole heck of a lot of time) on payroll.
You need a time tracker that:
1. will actually be used by your employees (i.e simple, easy, via devices they already have and use)
2. accurately tracks time from wherever your employees are working – from onsite to remote job sites or locations – using devices
3. they have on hand (cell phone, tablet, landline, computer, etc.)
4. allows you to review and approve times (from anywhere at any anytime) and,
uploads directly into your accounting or payroll software (for data-entry-free, error-free payroll).
I’m not sure I can afford it.
If you have one or more employees, then hands down, yes you can. Remember, the return on investment (ROI) of a good automated time tracker should be saving you thousands of dollars each year. Here at TSheets, we have a proven ROI of 1.7 or more, so the benefit far outweighs the cost of your investment.
As for the impact a time tracker has on your cash flow, choose an online solution that is available on a subscription basis. This eliminates costly software or hardware investments that quickly become obsolete or require continual service updates or upgrades. Subscription software is always up-to-date, is a simple pay-as-you-go model, and should be contract free.
The bottom line: savings.
Automating time tracking is often low on the totem pole for businesses because of the “my employees can write their time down for free” argument. It’s true, but it will cost you thousands upon thousands of dollars in the long run, not to mention the amount of time wasted managing the stressful and inefficient processes surrounding your payroll.
So do yourself, your business and your employees a favor: implement an automated time tracker that will save you time, money, and the stress related to payroll. Find out if TSheets is the right time tracker for your business; we’re easy-to-use, web-based, mobile, accessible from anywhere, and we sync with variety of accounting solutions (do all these criteria sound familiar?)
Try a 14-day free trial today. >>
The post Are You Losing Money on Payroll? – by TSheets appeared first on Mike Michalowicz.
