Mike Michalowicz's Blog, page 25

Small Business – 4 Reasons You’re Too Small to Fail



Mural by Luke Buchanan, Raleigh, North Carolina

It’s a bit bumpy lately, right? 

While we’re all on this roller coaster, I want to remind you just how important your small business is. And, that you have some advantages that big business doesn’t have access to.

How many small businesses are there?

First, let’s stand up and applaud the fact that small businesses represent 90% of all businesses around the world, and 99% of all businesses in the United States. There are over 32 million strong in the US alone. So yah, your business may be considered small, but you’re part of something extraordinarily powerful.

1. Small business is critical to the local economy.

For your town and surrounding area to thrive, small businesses in that area need to be successful. When customers utilize the services of a small business, they’re giving back to the local community when the business pays their taxes, including local property tax. This money supports the local emergency response teams, schools and local projects that increase property value. 

2. Small businesses employ local workers.

Small businesses are the only ones that can flex and serve a reduced local population. They hire employees who may not be hired by other larger businesses, and have the unique opportunity to create new roles that serve the company as well as prospective employees.

3. Small businesses are full of entrepreneurial spirit.

The innovators, entrepreneurs, and creative minds tend to seek out small businesses in which to lend their skills and talents. Why? Because a small business has more opportunity to be innovative and try new ideas – without the red tape of big business. Have a new strategy? You can implement it as soon as it’s ready without waiting for approval.

4. Small businesses can, you got it, pivot.

Need to adapt? No problem. Small businesses are customer oriented and have a unique understanding of the needs of their customers and community. This builds customer loyalty, so when there’s an economic downturn, small businesses can still thrive because they have a loyal customer base. 

Your small business is bigger than you think. You’re increasing the local job market and revenue. You serve in a more personalized capacity. And we all need that right about now. 

Stand tall and proud in your small business, and keep serving!

 

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October is Women Owned Small Business Month



October is Women Owned Small Business month. I love this observance because it functions as a reminder of the gigantic hurdles female entrepreneurs have overcome – and the trails women continue to blaze.

Did you know? Female business owners couldn’t get a federal business loan.

Up until 1988, there existed significant barriers that hindered women from achieving equal and full financial status. One of the outstanding barriers was a law prohibiting women to legally obtain a federal small business loan without the signature of a male relative. Then, The Women’s Business Ownership Act of 1988 was passed to ensure female entrepreneurs could obtain federal business loans independently of a male relative. This landmark legislation was an acknowledgment how critical women business owners were and are to the national economy. The provisions of The WBOA transformed the journey for female entrepreneurs. Our economy has been better sustained because of it.

To boot, a study performed as a precursor to The Women’s Business Ownership Act illustrated that women business owners were audited more in depth than their male counterparts. Women were expected to show they could meet a higher standard of personal net worth and offer greater security. This occurred even though the loans women requested were less than men’s. 

It’s difficult to imagine that only thirty years ago women weren’t allowed the same opportunities as men. Women were unable to have financial independence in the shape of business credit in their own name. This means that independently owned women businesses have only been in play for roughly three decades. Think about it – your mom or grandma wouldn’t have been able to start her business without a man.

The Rise of Women Owned Businesses and Female Entrepreneurs

In the 1970’s, there were roughly four hundred thousand women owned businesses, which made up less than 5% of businesses in the United States. Today? There are over thirteen million. Women begin their own businesses at twice the rate of men, and own over 40% of small businesses in the United States. We are increasingly reliant on the success of their companies in order to grow and sustain the world economy.

The transformation over the last few decades for Women Small Business Owners is something I will always celebrate and be inspired by. Join me in supporting and learning from the ongoing achievements of your fellow small business owners. 

As always, I am cheering you on and wishing you tremendous success. 

Wishing you health and wealth.

-Mike

 

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Become an Industry Expert and Scale Your Business – One Simple Step



There’s an easy way to scale your business. And it’s fast, easy and free. 

Practice. 

“Aw, Mike. Yawn.” I know, but hear me out. Literally, from one of my rehearsal spots where I was rehearsing keynotes on Profit First and Pumpkin Plan. 

Even though I’ve delivered these speeches hundreds of times, I still rehearse them. You may assume that I know the material inside and out. While this is true, each keynote is tailored to a new audience and what serves their specific needs.

As a small business owner, the best thing you can do to scale your company is master what you’re good at. No matter how smart or talented you are, that takes practice. 

It’s not about practicing for muscle memory. Practice brings about mastery because when you actively practice, it lends an opportunity to self edit, audit, and refine your offering each and every time. That’s powerful stuff.

Practice creates discipline. Considering more discipline in order to scale your business can be intimidating, but it’s more about creating habits that make you and your business thrive. One book that’s propelled me toward better business habits is Atomic Habits, by James Clear. It gives readers strategies to create simple systems that increase good habits and decrease the not so hot ones. You’ll see the improvements for yourself.

Practice helps internalize. One of the challenges of being a small business owner is that you often feel the weight of the entire business on your shoulders, and the “doing” can get in the way of your ability to look at your company from a holistic perspective. When you practice your business skills, you’ll be surprised at how you end up internalizing information subconsciously throughout the day.

Practice is an opportunity to edit. Practice sessions are not only an effective way to track progress in a particular area before a crucial milestone like a keynote speech, but they act as useful check-points to flag weak spots in a timely manner so they can be addressed before it’s too late. This also helps achieve mastery in your daily business activities, because practice gives you a chance to edit. What can be improved, done away with, or focused on more?

Mastery isn’t the achieving an end goal, but getting to a level where you continue to practice at your highest level. I’m not saying I’m “there”, but I do intentionally make strides to continue to practice at my highest level. Every time I practice, rewrite, heck, even work out, I get better and better. And I’ve recoginzed it’s one of the best ways to scale my business.

Consider practicing, rehearsing or rewriting your mission. What is the thing you can do so well that you are now able to practice at an elite level? You’ll position yourself as the trusted expert in your industry.

My challenge to you this week: add five minutes in your calendar per day to practice a skill that you require to strengthen your business. Let me know what you practice!

As always, thank you for allowing me to be on this entrepreneurial journey with you. 

Wishing you much health and wealth.

-Mike

PS – If you’d like to check out some of my keynote speeches, you can click here. Grab the popcorn and enjoy!

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Diversifying Your Offering



Business check point: Are you diversifying your offering, or diluting your company’s impact?

When the pandemic hit, business owners were diversifying and pivoting all over the world. The need to shore up your company was likely on the forefront of your mind. Understandable.

The problem? Sometimes the more offerings you provide, the more risk for brand dilution, which ends up weakening your business. Not only can your products be less impactful, but the cost or resources to provide them may not result in sustainable profit. 

Another problem? You can lose your customer’s trust and loyalty when you diversify your offerings, and your company’s reputation will be at stake. Brand dilution decreases the consumer’s idea of the value of your past products. 

Overall, you want to be very intentional and clear about what your company is known for offering. If you offer too much, you may become the expert – at nothing.

And you are an expert. That’s why you started your company in the first place. 

This doesn’t mean you should never diversify your business. I have, but very, very carefully. 

What’s the magic recipe? That’s for you to decide. You have to figure that out based on your data, but I can share what I did with you so you have some things to consider.

I caught so much heat for this:

First I’ll share a little story. A while back I wrote about diversity in the workplace, and I got some negative feedback. 

Look, I get it, we’re used to big business pandering to the flavor of the month. But if you know me, you know that’s not me. Kelsey (“The Prez”) and I have created a diverse company of different backgrounds, ages, genders, and cultures. We even have international interns who come work with us a couple times a year. 

What this means is that as a business owner, my vision is broadened. My blinders are off and the different perspectives from my team mean I can capture more of what readers and customers need. 

Why would I stay in my lane, with my same perspective, over, and over? Don’t you think I would be missing out on major opportunities to scale my business in a way that not only serves new customers, but creates far more profit and sustainability for all involved?

When you don’t diversify your team, you eliminate the potential perspective of your clients and customers. Hearing feedback and solutions different from what you consider offers a treasure trove of innovative ideas to strengthen your offerings.

If  you think it’s time to carefully diversify your offering, remember to diversify your team too. Of course, hire people who are best for the job. Also consider creating a team that is made up of different ages, genders and different cultural, communal, and religious backgrounds. You’ll gain a more holistic view of your business, and what the public needs from you. 

How do you determine what can be diversified? Data. Come on. You know that’d be my answer. Everything needs to be measured, to ensure you’re moving forward. Use the data from previous offers to determine future product development and launches – and encourage a more positive customer reaction and experience.

Serve your business community better. Consider different perspectives, narrow the ideas down, see what people need now, and give it to them. 

As always, thank you for allowing me to be on this journey with you. I am wishing you tremendous health and wealth.

-Mike

 

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Build a Profitable Business – By Standing Out



I think the common thing that entrepreneurs get wrong is that we think we need to do all the things. 

Reality check: You only need to do one thing. And better than anyone. 

Like really well.

Because you don’t want to be a jack of all trades in all things, you want to be an expert in one thing. 

You want your company to be better than the others. When people have a critical decision in life and have to hire someone to help move them through a challenge or opportunity, that decision will be ranked based on how qualified you are, and your experience in their one need. They will want the most qualified person. The expert.

Expert tip? Don’t water your skills down or dilute your service offering by having too many to choose from. 

Look at what your “est” is, what you’re “the most” at. Do you respond and service the fastest? Are you the most mindful? You become qualified as an expert when you’re the world’s best at one thing. 

I challenge you to be or become the world’s best at one thing, and I suspect it will dictate an income accordingly. 

Let me know what you choose!

You’ve got this.

-Mike

For more on your “est”, check out the Get Different resources here.

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It’s Your Job to Create Jobs



Repeat after me – the job of an entrepreneur is not to do the job, it’s to be the creator of jobs.

Do you know only 14% of people will ever start a business? And only 20% out of that will build a sustainable, profitable business. 

The rest of the folks are looking for good, reliable jobs with good, reliable companies. 

Entrepreneurs are in the unique position to create employment opportunities not just for themselves, but others as well. You can drive employment and economic growth through your small business, and the world needs you now more than ever.

Your job is to create a powerful business. Not to do the work, but to empower others who are seeking good work. This will only increase productivity and efficiency in your business. 

That’s why I wrote Clockwork Revised and Expanded. There’s a new method to teach and empower your team so they can become the leaders of your organization. Here are some strategies to help with your recruiting and hiring new employees:

Interview & Hiring – When should you hire? If you feel as though you could use the help but are grinding it out, take that as a desperate, subconscious plea to yourself that you need help now. You will have to break out of the mindset that you have to do it all or that you cannot afford to hire. Break into the new mindset: what will this look like long term? By freeing up some of your time, will it create more opportunities for you to design business strategies? (Hint, the answer is yes.) Also to note: you don’t have to follow a traditional full-time, in person employee model. My observation and experience is that part-timers tend to accomplish more in a shorter amount of time, too.Integrate – You need to get the right people doing the right things right. Sure skills are important, yet not the end all be all because you can provide the skills. What you want is the attitude, cultural fit and are motivated to support your mission. Every person has an extraordinary talent, so find out what theirs is. What are your teams’ super strengths and zones of genius? You must reassess and if necessary realign their roles with what their strengths and joys are to get the most efficient outcome. To note – their joys are usually their strengths.Empower – It’s your job to set your employees up for success. This means you provide them with resources (read, systems) that empower them to be most effective, and the autonomy to feel true psychological ownership in their roles and output. Delegate delegate delegate – You’re not hiring employees to micromanage. You’re hiring employees to create unparalleled efficiencies in your organization. It’s tough for entrepreneurs to trust their vision to others, but if you hire the right team you’ll be able to. Start with low risk transfers of responsibility and let them work at their own pace while you measure the output. From there, you can decide how much to trust them with a more robust role. 

Entrepreneurs should be designing, not doing all the doing. Don’t do the jobs yourself, be the creator of jobs.

You’ve got this!

-Mike

 

 

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Tune Into the Opportunities – 5 Simple Steps for Your Small Business



I have two guitars in my office now. 

For a while, I just had one guitar in my office. Sometimes when people visited they would see it, ask if I played, and then would want to jam. Except, we had to pass the guitar back and forth. Meanwhile, I had another perfectly good guitar at home that I could be sharing. So, I brought it in. And now two guitars will sit here until someone on my team learns to play or a guitar enthusiast visits. Either way, the opportunity now exists.

Why didn’t I see this opportunity sooner? I could have been connecting with people on a way deeper level. 

Man, what else am I missing out on? Are there more business opportunities I didn’t even consider yet?

Probably.

Maybe it’s something you have to learn over time – to have the kind of awareness, or hone in on that radar that propels you to potential opportunities. I think opportunities flicker in our minds daily, sometimes getting overridden by the tasks we need to accomplish first. But, you need to make time to be present and take notice of what’s happening around you in business and your communication. For instance, when someone would ask if I played guitar upon seeing it, it was likely because they wanted to play together. That experience could nurture a friendship, or a business relationship.

Luckily, you don’t have to be a juke box hero to find and create new opportunities. Also important to recognize is that finding opportunities, and not being opportunistic, is a skill I learned over time. 

Now, it’s one thing to recognize or create opportunities. It’s another to take action and make good on that opportunity. Here are six steps to help you out:

Six simple steps to find more business opportunities

Brainstorm – Get that spidey sense brewing! Leading up to brainstorming, make a cognizant effort to be more present in your daily interactions, with that “opportunity for improvement” radar cranking. You then can brainstorm alone, with your team, or in a mastermind group. Survey – I love surveying my community because I’m truly interested in what the pain points and challenges are for our community of customers. I also love to hear about the successes they’ve had. When I hear what people need, or what has worked or not, I am better able to assess what opportunities I can create in my business to best serve.Make a map and implement a plan of action – I love to scribble. Take your idea for your new opportunity and map out which employees are responsible, what resources (time, money, platforms) are needed, and a timeline of expectation so that momentum is motoring along. No procrastinating on your glorious ideas!Measurement and data – How are those opportunities coming along? Make sure you have a metric to measure the performance of each new opportunity you create. This way you’ll know what can be changed or enhanced.

Remember, take notice of the recurring problems or opportunities that present themselves. Make a note in your business and anything you’re doing. What is the one thing you can do to improve that thing?

Maybe a great business idea will come out of it

Maybe a new product or service will come out of it

Maybe a way to jam out, or connect with someone will come out of it.

The lesson is, pay attention, see where the opportunity is, and take action.

You’ve Got This!

-Mike

PS – Send me your favorite song to jam out to! 

 

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How to Be More Efficient at Work



Small business owners have it so good. 

You also have it, well, not so good. Because I bet you (or at least some of you) push life off in the name of your business.

Here’s the deal. When it’s all down to us, we focus on our business more than the rest of our lives. We let go of boundaries, and do whatever it takes to create a legacy type of business. We are the owners, after all. 

But at what cost? 

I still like to, you know, see my family and friends, and work out, and travel for fun, and garden,and read, and, and and.

At some juncture, I don’t know when exactly, I heard myself say that I “didn’t have time”. Then I heard a similar voice (yep, mine again) turn something down because I was “so busy”.

Crap. I’d become that guy. You know him. The So Important Very Busy Guy, the Give Me My Tiny Trophy For Being So Busy Guy. Who was this martyr? Yich.

I would open my calendar each day and see it neatly packed with all the illustrious aforementioned duties. There were days though, that I would skip events like writing, working out, and even lunch, because they weren’t in my calendar (oh, goodbye, self care). I’d let calls or meetings run over, or work through lunch.

Here’s the thing. We all have to hustle sometimes. But if you’re hustling so hard you can put your body or sanity first, you’re not hustling, you’re just unorganized. 

Yowch, Mike.

Hey I’m allowed to say that! Because I was that guy. The guy that lost sleep, ate crappy, drank tons of coffee, socialized less, skipped work outs, canceled dinners…you get the drift. 

All of that imbalance is not sustainable.

If this is you, you cannot go on like this. Even a little. Your business will not make itself successful, sure, but your business and your team also need a strong, healthy leader. So, you need to carve out some time to make yourself as strong as you want your business to be.

Uhm, Mike, are you feeling ok?

Yup! Lots better since getting a timer. 

Time Blocking: It’s such a simple thing, but we rarely stick to our calendars. We get distracted by calls or, let’s just admit, the black hole that is the internet. So I began time blocking. Not only did I stick to my calendar, but I have an actual timer that sounds when the allotted time is up for each task. The results came in within a few days:

Reduced overwhelm and stress – You commit to that time on the timer, and push distractions aside. Finishing tasks diminishes that workload and helps you keep your finger on the pulse of your business. Increased efficiency – Amazing that you can complete it in twenty minutes or an hour when you give yourself only that much time to accomplish a task.Organized priorities  – If you approach a task and feel something else is more important, simply switch time slots around. It helps you see what may not be needed that day.Helps avoid overcommitment – I used to have my day scheduled so tightly I didn’t eat or work out. My overcommitment wasn’t admirable, it was cutting into my health.Makes you feel in control – When you use a time block you become more efficient and productive, and it shifts your mindset into a more confident and “I got this” kind of human.

Combined, all of this allows you to be more productive, with less stress. My team time blocks as well, and I’ve noticed folks completing tasks in less time. There are a lot of alarms going off in our office some days. 

Do you time block or just use your calendar? I want to know! If you don’t give it a try and let me know how much time you recouped this week!

You’ve got this!

-Mike

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Quiet Quitting – How to Retain Great Employees and Avoid Quiet Quitting



 

Secret time: I’m a quiet quitter and I didn’t even know it! Mind blown. But more on that later.

First it was The Great Resignation, and now it’s Quiet Quitting. Some less accepting critics will complain about this recent phenomenon, calling employees who participate, “lazy”. But, as a leader and business owner who has been evolving with the times, I applaud and support the Quiet Quitters. Mostly.

If you haven’t yet heard this term, “Quiet Quitting” occurs when an employee doesn’t quit the job, but discontinues going above and beyond, completing only the basic tasks or jobs, and detaching from the organization they work for. 

The Great Resignation and Quiet Quitting points to a glaring flaw in our society. The expectation that we are going to be so completely invested in our livelihoods out of fear of losing our jobs (and paychecks) – giving of our life, body, and soul, is unrealistic and unsustainable. Mental, physical, and relationship health ultimately suffer, and then people wonder why.

When I sold my second company, it was to a Fortune 500. I remember when I walked into the New York City office on my first day and sat down at my new little desk, I was bum rushed with a litany of expectations. I was told I had to bill x amount of hours per week, I was expected to do whatever it takes to produce, and people work a minimum of 12 hours a day. When I asked if I could sit with the rest of my team. My boss said, “Oh no, Mike. You’re not at that level yet.” Wait did he say my name? He may not have known it. Yeah, probably not.

But I sat there. I dredged away at that job. I went above and beyond because hey, if you weren’t a nervous, sweating wreck, would anyone even think you were trying? 

This is exactly the culture that encourages and invites quiet quitting. Of course employers set out the expectation that they want A players who will do whatever it takes and are working machines. Produce, produce, produce! That whole old school, “Wolf of Wall Street” mentality. It may produce revenue, but not for the long term. Why? Because no one can survive it. 

Looking back, that NYC job was a turning point for me. When I went back to owning my own businesses, I knew that the culture I modeled needed to be one that recognized that my employees are not machines. They are humans. And so am I.

Now, post pandemic shutdowns have left employees reimagining their lives and how they’ve been living, leaving many with the realization that there is significant discontent, and that their work/life balance is in dire need of improvement. Once some employees had a moment to catch their breath, they realized they had physical, mental, and relationship issues that had been long on the back burner because, you know. Work. 

All this to ask you: Would society as a whole be better if starting right now, we all lead the workforce that puts humans first? 

Today’s strongest leaders are doing exactly that. Leading humans, like humans.

Here’s how I see it:

The causes: 

Pardon some obvious statements. You already know that the economy is unstable and unpredictable. You know it’s making you nervous. Now, consider how your employees feel. They likely worry that their livelihoods are at stake, and they worry if they’re adding enough value to your business to stay employed. If you’re leading your company only looking at numbers, they’re going to dwindle.

Show me the money (and respect my needs): The objective for a business owner is their bottom line. Money. The objective for an employee is their own bottom line. Also money. Ok and job satisfaction would be nice too. The issue is that there are a lot of employees out there who don’t feel their needs and bottom line are being met. The result, employees who feel undervalued – and have one foot out the door.An awakening: The pandemic has illuminated what really matters to people. Employees now recognize how untenable and unhealthy the normalization of companies expecting more and more from employees without acknowledging the infringement of their personal lives and boundaries (beyond just the compensation factor) really is.Generational conditioning. Now. Traditionally, corporations have instilled a culture of “work hard, play harder”. We all know that model benefits the company’s bottom line, because the first part of that saying is most effectively executed. The newer generation coming into the workforce was raised to pay attention to their mental health and well being, and to put them first. It’s not that they lack work ethic, or don’t want to work. They have self worth. They realize that they, as people, matter first. It’s a relief, frankly. In The End, we’re not more important or glamorous than anyone else by constantly grinding away. Also, how ineffective can you get?Constant availability: Never in the history of history has constant availability been more prevalent. What’s changed in the workforce over the last few decades is the sheer expectation of constant employee availability. Technology, for all of its splendor, has also failed our humanity. The expectation is we can all be found, all be available, all accept input, all the time. It’s basically demolished our work/personal time boundaries. Over the years, growing technical advances have only exacerbated the expectation that 1., an employee is always available (aka always working), and, 2., an employee never, ever, detaches from work like they used to in prior decades. Our need to constantly answer work is a trauma response. We’re conditioned to be entrenched in anxiety over what we’re potentially missing and not doing. No matter how much people love what they do – That email late Friday afternoon? That Slack on a Saturday morning? Texts at any time? While the gift of technological platforms makes it easier than ever to communicate, there’s such a thing as, now say it with me, boundaries. I know there are times you want to leave your thoughts with the employee who’s going to execute a related task, but sometimes your notification pops up for them in the middle of personal time we all desperately need, and it makes it impossible to detach from work. There may be cycles in your business when you need all hands on deck, but it shouldn’t be constant. If it is, that may be, you know, a you thing to assess.Leadership: If you’re doing the above, you may want to back off before you have a team of quiet quitters. When leaders don’t respect employees’ lives holistically, their teams won’t feel any dedication whatsoever. Employees are not replaceable. They’re running your business. Poor communication: Just because tech allows you to communicate non-stop, it doesn’t mean you should, or that your communication is good. Leaders need to discuss expectations upfront, and clearly explain repercussions of those not being met. Particularly in a hybrid work environment, employees can become insecure and wonder if they are meeting expectations, often overdoing it. Remote/hybrid work model: For industries that have this model, it’s a double edged sword. The assumption that working remotely is a cakewalk has proven to be wrong. While it may be convenient to stroll over to a workspace at home, being home also translates to work is in your home. Your laptop or desktop is always there. So now, you’re even more available than ever. Great! The boundaries between work and personal life become blurred even more.

The effect: 

Employees are set up to fail, not leverage and thrive in your business. All of the shortcomings and misguided “professional” traditions build up to employees feeling powerless, and as though they are failing their boss and teams. It first manifests as stress, and then resentment. Toward you, the leader, and your company. “Quiet quitting” becomes the only means for reclaiming control over their time. 

Employees who are unhappy and second guessing themselves, their value in the world, and their careers are going to disengage with your business. (Read: Hurt your bottom line.)

The (very, very positive) solution: 

You want to retain your talent? One of the beautiful things about being a small business owner is that you have the advantage – you can make the rules. You can foster your dream culture in your business. One where your needs, and your employees’ needs are met. We as leaders must model the healthy, humane behavior we want our employees to emulate. So whatever you want to see, you need to walk that walk. 

You can create true work/life balance in your company. Not that lip service type in larger corporations either. You know, the ones with a gym and cafe on campus so you never leave? (Pretty sure that’s called being a hostage, no?)

You can promote and inspire and instill a great work ethic – and be more efficient in less time. 

How? Lead like a human.

With all this tech, it ends up that true company development is up to humans. Our company prez, Kelsey, said, “I think this is a great opportunity for companies to shift their approach to recognizing the whole human and create a company that is much more mutually fulfilling. It’s also an opportunity for leadership to proactively communicate what their expectations are, and if there are repercussions for not meeting them.” Sounds dreamy, right? It’s doable. 

Cut back on hours. There was a study in the UK that identified that we only have so much brain power before decision fatigue kicks in. Much of my team is off on Fridays, and we have quite a few part timers. Because of the systems we have in place (thanks, Clockwork!), we work less time, but produce more than ever. Boundaries, boundaries. Once controlled by employers, employees are now taking the reins and designing a life that serves them both professionally and personally – with their mental and physical wellness revered above all. How dare they? While some think setting more work boundaries equates to people not wanting to give their jobs their all, it’s really by my account going to be the most productive generator of work. Because happy employees have increased loyalty and dedication, which equals a stronger, more efficient, and therefore more profitable, business. This means a shift in expectations needs to be communicated. Tech is great, but it creates the expectation that you are always available, anytime, anywhere. People need to be able to “turn off”, and have that respected. Management should reassess what expectations are mandatory and what is stressful that can be done away with. Then, those need to be communicated clearly to the rest of the business. Support wellness at the forefront. If you do not have your physical and mental health in check, you can’t function at your best. If your relationship is hurting, your emotional wellness is at risk. Make sure that you give your employees the time they need to take care of themselves and their loved ones without feeling they are at risk of losing security in their jobs. One way to do this is by holding quarterly meetings about the goals of the business, and about personal goals. Then you can align your business to satisfy the needs of employees and vice versa. And everything is out in the open, which is wonderfully empowering.

Kelsey has been walking this (above) walk in how she manages our employees. I mean one hundred and a million percent. Communication is key, otherwise the lines between work and outside life are going to become confusing, and in the end no one will be happy.  And while some business owners may find this to be a soft approach, adhering to “a whole human” approach in our office has created:

LoyaltyEmployee retainmentEfficiencyConfidenceReciprocityEngagementMotivationRespectSafetyAutonomy ValueSustained profitability (last but not least)

And the unwavering desire to serve each other and our community. Good stuff.

As you move through this time of upgrading and humanizing your leadership, remember these few tips:

A smart leader sets up an environment where employees thrive. This isn’t about being “nice”, but about created strategies for the holistic fulfillment of your business. This included less pushing on your employees and stressing them out, but inviting them to fully express themselves in a way that makes them comfortable and happy – and finding how that best fits in to their jobs.It’s not about the number of hours you work. It’s about the output. And output isn’t just about delivering on deadlines or producing revenue, but the quality of engagement with the people you are serving in the process. It’s also about how your clients are being served, not just about what you’re doing in your dailies. What is the impact you’re having on the people around you – your team, vendors, and customers? You want to leave everyone feeling glad they interacted with you.

I invite you to set up an environment around you that embraces your colleagues. One that they can’t wait to come to work because they are being served. Design your business so there is reciprocity, trust, and loyalty – that’s where the best culture, and profit, live.

Have you looked at how you’re working? I’m glad I did. 

-Mike

The post Quiet Quitting – How to Retain Great Employees and Avoid Quiet Quitting appeared first on Mike Michalowicz.

Work With Me One on One and Master the Recession



Unless you live completely off the grid, you know we’re in a recession. 

Here’s the thing. You don’t have to participate in it. 

Small businesses have the unique opportunity to have the choice not to be a consequence of an unpredictable market.

Here’s why:

Small businesses have a smaller margin of error than their larger counterparts during a recession.You can increase market shares as larger companies fail, positioning you for profit when the economy begins to recover.It’ a good time to start that company you’ve been dreaming if because there’s less competition.

You can make this challenging time work for you and make it your most profitable year yet.

How:

Each recession is unique, but has the same fundamental undercurrent. Once you understand the fundamentals, you will be able to navigate through it in a way in which you don’t participate in the recession. 

I know. It sounds completely idealistic, but it’s true. This is one of the many great advantages of having a small business. 

I’m going to tell you in my live, interactive Recession Resolution Workshop on September 19th. You will:

Work with me one on one.Gain a more granular understanding of the fundamental principles of a recessionHave an opportunity to ask specific questions about how you are managing your business during the recession. Learn unique and specialized strategies tailored to your specific business so you can move your business forward with confidence. 

And, I’ll share some of the strategies we are deploying here in our business that you can leverage in yours as well. 

Together, we will create a roadmap for your business so you know exactly what to do when the workshop concludes.

I believe the next year can be your businesses’ best year ever. That’s my intention for my business, and yours too!

I really cannot wait to meet and learn all about you and your business. Sign up here.

Go entrepreneurs!

-Mike

PS – Yes, the workshop recording will be available, but you must register for access. I’d really prefer to meet you so you can get the most benefit.

PSS – One on one coaching isn’t something I do often, so take advantage!

 

The post Work With Me One on One and Master the Recession appeared first on Mike Michalowicz.