Mike Michalowicz's Blog, page 25

The Key to Successful Marketing – Your Call to Action



The key to successful marketing comes down to this: your call to action. This is also where so many companies fail.

When you overwhelm people with things to do, they choose to do nothing.

And your sales suffer. 

This is why it’s imperative to have a strong, clear, concise call to action. 

When your marketing is cluttered with information about what your offering is, and all the ways to get it, it’s human nature to just tune it out.

I saw a prime example of this the other day while I was walking through town and saw a marketing sign in the window of a local business. I have to say, I was overwhelmed with the options they were giving me. Unfortunately, I wasn’t curious about their offering because I didn’t want to take the time to read through and extract what it was. (But I did want to help them with their messaging. Get Different book drop off!)

If you confuse, you lose. 

Whether you want to get sales or sign ups, your directive needs to be doable at the moment. You must be extremely obvious and extremely clear. If you get cute or overwhelm your prospects with choice, you simply confuse them. As my friend Don Miller says, “If you confuse, you lose.”

Marketing is every step you take to get the customer to the buying decision. The sale is the financial action in their decision to buy. So your concise, singular, directive should easily get them to the first step. After that first step, you can build the next steps from there.

Creating the best call to action sequence starts with the first step.

Make sure your first ask, that first call to action, is a reasonable, safe step for them to do to increase your conversion rate opportunity.

Step 1 – Perhaps step one is to get an email address to begin communicating your offering. You’ll want to offer them something useful for them that can solve a small problem now. Say a demo or FAQ.

Step 2 – Your second email can include an offering for a demo, to learn more, or perhaps a coupon for a product. Watch your deals here, don’t dilute the value of your offering in an effort to get new business. Remember, you want those big Pumpkin Plan clients.

Step 3 – Now you can begin promoting your larger offerings

Now you’re giving direction to your prospects or clients and not overwhelming them. By leading them through a tangible, actionable sequence in bite size steps that people will actually feel inclined to take, you’ll be able to convert prospects into clients much easier. 

One last note – when selling, remember that you’re serving. It’s not just about the sale. It’s about getting your offering into the hands of the people who need it, who’s lives and businesses it will improve. Always sell with as much integrity as you can.

You’ve got this!

-Mike

 

The post The Key to Successful Marketing – Your Call to Action appeared first on Mike Michalowicz.

Why Employee Ownership is So Important



Our businesses are continuously changing. It’s the way of the world now. And I want to share something really wonderful that has enhanced our company’s performance. It’s the concept of psychological ownership.

Psychological ownership is something I have been researching intensely for my next book. And I’m all in.

By definition, psychological ownership theory (Pierce et al., 2003) suggests that individuals experience a cognitive-affective state, i.e., psychological ownership, in their interactions with objects when the individuals feel as though the target object is “theirs”.

“But wait, this is my company!”

I think when entrepreneurs and small business owners start our companies, we think about how we’ll implement our ideas, create our impact, and crystalize our mission. Great! But it’s incredibly important to remember that a great leader of a company leads a great team to make it efficiently fall into place and create that envisioned impact. So hire a phenomenal team, give them stake in the game, look out!

When I started, yes, it was just me and at one point I definitely thought I could do it all. I had to. It was, after all, my company. Maybe I’d hire an assistant. I did. When she began to serve in more widespread capacities, she was an obvious fit to become the company president. Then over the years she brought on wonderful employees, who then introduced others. And, we still offer the team new responsibilities when they ask or if we see a fit. We hire new members as needed. 

What I’m getting at, is that there is a healthy amount of ego that needs to be removed to make your company everything it can be. No pigeonholing into hierarchies here. If there is a big brain to tap into for innovations, we want in.

Having a team not only aligned in your mission, but adding to it with as much loyalty as you have, is a game changer. Your missions quickly become realized in a more efficient way. 

Yes, you are still the leader. Moreover, you are the steward. 

And that is more important than ruling your roost. A steward leads through offering ownership to the rest of the team. Why? Because when you do, your entire team will be just as dedicated to your business as you are. It’s invaluable.
What gives your team members a sense of ownership?

So this all sounds good, right? Let’s get to some actionable steps for you to implement psychological ownership in your business.

How to establish employee ownership via physiological ownership – and give your employees stake in the game.

Reciprocity – There is a great amount of reciprocity expected here, no doubt. You must exchange your resources in order to succeed, and offer a high amount of trust and communication.Autonomy – No micromanaging! At the same time, this doesn’t negate the importance of communicating and utilizing a project management platform for updates. We like to have in person meetings too to make sure we’re getting that human time in as well. Having a status update is enough to keep your finger on the pulse of the project. But if you get too involved, the idea of ownership will lessen, and your team members will actively or subconsciously begin expecting nudges from you to finish the project.Creative license and voice – Similar to autonomy, giving someone agency over their creative ideas they are bringing to the table will empower them to take more responsibility over the ideas, and the outcomes. As a byproduct of feeling ownership in the company and in their jobs, employees feel more accomplished. Something to consider considering The Great Resignation is still in action.

What can you do to have your colleagues take a larger part of ownership in your company?

If you want to give your team a sense of ownership, ensure that they are participating in the creation of something.If you simply share your idea to have your team roll with, they may embrace it, but likely won’t feel ownership. Conversely, if you approach your team requesting their ideas and input, the increased engagement alone will get everyone excited.

The benefits of psychological ownership: I know this all sounds very, well, “nice”. And it is. The facts are however, that there are studies and data that back up how employee ownership positively affects your business. Psychological ownership:

Enhances company performanceCreates better company stability and employee retainmentHas a closer relation between what’s being produced and revenue outcomeOpens up the doors for innovation that may not yet be exploredIncreased motivationCompany stewardshipLoyaltyFosters productivity – efficientlyCreates the desire to belong or make idea work for the betterment of the company

When your team is not only aligned in your mission, but provides additional value to it with as much loyalty as you have, it’s a game changer, an “ah ha!” moment. Your missions become realized in a more efficient way. So you can focus on the next awesome offering for your clients and the world. 

-Mike

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Better Business Leadership – Improving Connection and Employee Confidence



 

Regardless of the size of your business, your success depends on your leadership.

How we’re defining leadership has changed here in my office, and after seeing the significant increase in productivity, profit, and overall employee satisfaction, I hope other businesses follow suit. 

I believe we need to move from the old leadership model. We were formerly in this sort of command and control type of leadership model. There was a boss and subordinates. The boss made the plans, designated tasks, and the employees just kind of fulfilled their duties. Ho hum.

Do you know what your employees really want? With The Great Resignation taking place, we are hearing more and more that your employees want a sense of purpose, belonging, and to be of value to your team. 

This translates into leaders realizing, or remembering, that they are in all reality, a servant to their business and a shepherd for their team members. A modern and effective leader knows it’s time to move away from the antiquated model of leadership. If you haven’t already, it’s time to quit command and control, to become a steward of collaboration, connection and confidence. 

Connection

Leadership/employee connection – It goes beyond lunch. The job of a leader in today’s environment is to help form connections, both interpersonally and professionally. Leaders need to make sure their team is connected to their own personal mission within the company, at the same time, driving the overall mission of the business. Team connection – We call our co-workers our “wamily”, because we have become a work family environment. To some, it sounds a bit silly, but we really have become each other’s biggest supporters. When you have this kind of relationship and connection within your business, there is heightened dedication to each other and enhanced ownership over relationships.How to create connections – There’s no one size fits all model but I can share what we do in our business. Our team members have a quick, 10-15 minute mini huddle each day to list their “big ones”, that one task they must complete, report in if they completed their big one from the day prior, and to give a personal update. Here’s the thing – having time allowance to share what you’re working on does two things. 1. It keeps clear communication with your team regarding what you’re working on. 2. Sharing what we’re working on offers an opportunity for others to support someone in that task and collaborate together if something is tricky. We also keep it fun. Anyone who completed their task gets entered into a drawing to spin our prize wheel. On it, are an assortment of prizes from a compliment circle, to picking music for the day, to  lottery ticket, to a large monetary gift to a favorite charity. 

(I’m told there’s no need to pay my team off, but man are folks in it to win it when it comes time to spin that wheel!)

Confidence

A lack of confidence gets in the way of performance and happiness. Kind of goes without saying. Even people grounded in their self esteem can lose confidence from time to time – we’re only human! So how can a leader improve employee confidence?

Communication – In those meetings? Stay transparent in your communication and keep your team up to date on future plans you have for the business. The last thing you want is people speculating about their job security, which makes productivity take a major nose dive.Role alignment – Place your employee in a position to flourish. People perform best when their skills are aligned with their job descriptions. Don’t try to fit a square peg in a round hole. Leaders need to ensure they are matching employees with their innate skill sets. Even if you’re hiring for one position, if you see someone is highly qualified in another area, and is a great cultural fit, don’t miss out on that opportunity to garner great results from that person in a different role. Be a company where employees have the opportunity to explore what’s important to them, expand and grow. Let go of premeditated expectations and accept the happy surprises along the way that can strengthen your business. Autonomy – Not everyone can flourish simply by completing directive tasks. Where’s the autonomy in that? Once you have the right person in the right role, let them go! It’s good to outline the expectations of a deliverable and to have updates, but don’t micromanage (But! But! I know, it’s hard to let go!) You’re only hiring employees you trust, right? So give them the resources and the reins to create systems and complete tasks. The end result will likely be better than you predicted. Empowerment – Each of my employees will tell you that they feel empowered by working here. We offer training and resources so that everyone feels capable of their roles, and then some. Our leadership is sure to listen to perspectives around the business and often take employee suggestions and put them into action. When team members see their personal and professional growth, their dedication grows – and ta da! So does profit!

In our own office, we even invite our employees to start their own business, write books, or what have you if they so desire. The result of our leadership supporting employees’ goals means they feel they have that agency to build their skills. And those skills almost always end up benefiting the company too.

Remember – Move from command and control to connection and confidence. Encourage innovation and collaboration. And most of all, positive leadership relationships equal positive results.

You’ve got this!

-Mike

The post Better Business Leadership – Improving Connection and Employee Confidence appeared first on Mike Michalowicz.

Establish an Authentic Workplace and Give Your Business – and Morale, a Boost

Recently, I was asked in an interview what my favorite business quote is. Immediately, this popped into my head:

“Be yourself, everyone else is already taken.” – Oscar Wilde. 

Hands down, this is my favorite quote. It hangs in my office so there’s a constant visual, and it keeps my mindset grounded. 

“Ok, Mike, but how does this apply to my business?” 

The concept of being true to yourself isn’t groundbreaking. But, it is universally applicable, and can be groundbreaking in your business if you implement being authentic in your company. To me, the old way of thinking is that in business, you must play a role and leave who you innately are at the door. The result is that employees spend an incredible amount of energy playing a part in their career. From calculated conversations and body language, to dressing the part, to acting outside of our own character, how do we know when we’re being professional, or if we’re not being ourselves at all?

As I reflect on the elements of what created The Great Resignation, I feel the personas some employees put on creates work anxiety, exhaustion, is ineffective, and detrimental to employee health and well being. 

It comes as no surprise that studies have shown that when we hide our true identities, our professional performance is impaired. Work anxiety is increased and careers can become stagnated when there is fear of being judged. Let’s face it, we do not give our best when we’re anxious.

It’s when we try to serve expectations of others opposed to expectations of ourselves that we are compromised. The crummy thing about fitting in is that you might (maybe) be liked by everybody – except yourself. And you cannot truly be of service to others if you don’t truly like yourself. 

My point? When we lean into who we naturally are, that’s the good stuff. That’s when we excel. A good leader knows that cultivating an authentic work environment is crucial for a healthy business. 

This is all great, right? Now how do you implement this in your business? Guess what? It’s up to the leadership (is that you?) to cultivate an authentic work environment. 

The benefits: 

It’s a matter of trust. Being authentic at work shows others that you can be trusted. If you’re the leader of your team, walk the walk to encourage others to follow suit of being their authentic selves. Where there is a higher level of trust, there is greater employee dedication and loyalty, which leads to greater productivity. Goodbye burnout. When employees don’t feel like they have to fake it till they make it,  they’re less stressed out, and employee satisfaction is increased.Unlock potential. When your team is comfortable to be themselves, they take more risks, are more creative, speak up and are more empowered to problem solve/find solutions. More brain power. Numerous perspectives generate better ideas.No more Monday blues. Your employees may run around telling others how awesome their workplace is because the authentic company culture rocks. Everyone feels more at ease. 

The implementation:

It starts with you. You set the tone. Be sincere when encouraging your team to feel comfortable being themselves by creating the example of what you want. Share a story about yourself and show your personal strengths, so your team does the same without fear of being ostracized. Role alignment. Job descriptions are great and all, but if someone comes to you with a valuable skill that benefits your company, for the love of everything holy, please create or adjust a role to fit those talents. When your employees are thriving, so is your business. Increase employee engagement. The type of company you operate will determine if you can have in person meetings, lunches, and the like. Since we work off a hybrid model here, we have “morning huddles” with our big goals for the day and a personal update.

What’s crucial for leaders to recognize is that If you want your business to prosper, the well being and sense of belonging of your employees must be nurtured. 

I’m looking forward to witnessing a huge shift in leadership. You’ve hired humans. Lead like one. 

-Mike

The post Establish an Authentic Workplace and Give Your Business – and Morale, a Boost appeared first on Mike Michalowicz.

How Establishing an Authentic Workplace Will Boost Your Business

Recently, I was asked in an interview what my favorite business quote is. Immediately, this popped into my head:

“Be yourself, everyone else is already taken.” – Oscar Wilde. 

Hands down, this is my favorite quote. It hangs in my office so there’s a constant visual, and it keeps my mindset grounded. 

“Ok, Mike, but how does this apply to my business?” 

The concept of being true to yourself isn’t groundbreaking. But, it is universally applicable, and can be groundbreaking in your business if you implement being authentic in your company. To me, the old way of thinking is that in business, you must play a role and leave who you innately are at the door. The result is that employees spend an incredible amount of energy playing a part in their career. From calculated conversations and body language, to dressing the part, to acting outside of our own character, how do we know when we’re being professional, or if we’re not being ourselves at all?

As I reflect on the elements of what created The Great Resignation, I feel the personas some employees put on creates work anxiety, exhaustion, is ineffective, and detrimental to employee health and well being. 

It comes as no surprise that studies have shown that when we hide our true identities, our professional performance is impaired. Work anxiety is increased and careers can become stagnated when there is fear of being judged. Let’s face it, we do not give our best when we’re anxious.

It’s when we try to serve expectations of others opposed to expectations of ourselves that we are compromised. The crummy thing about fitting in is that you might (maybe) be liked by everybody – except yourself. And you cannot truly be of service to others if you don’t truly like yourself. 

My point? When we lean into who we naturally are, that’s the good stuff. That’s when we excel. A good leader knows that cultivating an authentic work environment is crucial for a healthy business. 

The benefits: 

It’s a matter of trust. Being authentic at work shows others that you can be trusted. If you’re the leader of your team, walk the walk to encourage others to follow suit of being their authentic selves. Where there is a higher level of trust, there is greater employee dedication and loyalty, which leads to greater productivity. Goodbye burnout. When employees don’t feel like they have to fake it till they make it,  they’re less stressed out, and employee satisfaction is increased.Unlock potential. When your team is comfortable to be themselves, they take more risks, are more creative, speak up and are more empowered to problem solve/find solutions. More brain power. Numerous perspectives generate better ideas.Oh, and your employees may run around telling others how awesome their workplace is because the authentic company culture rocks.

The implementation:

It starts with you. You set the tone. Be sincere when encouraging your team to feel comfortable being themselves by creating the example of what you want. Share a story about yourself and show your personal strengths, so your team does the same without fear of being ostracized. Role alignment. Job descriptions are great and all, but if someone comes to you with a valuable skill that benefits your company, for the love of everything holy, please create or adjust a role to fit those talents. When your employees are thriving, so is your business. Increase employee engagement. The type of company you operate will determine if you can have in person meetings, lunches, and the like. Since we work off a hybrid model here, we have “morning huddles” with our big goals for the day and a personal update.

What’s crucial for leaders to recognize is that If you want your business to prosper, the well being and sense of belonging of your employees must be nurtured. 

I’m looking forward to witnessing a huge shift in leadership. You’ve hired humans. Lead like one. 

-Mike

 

The post How Establishing an Authentic Workplace Will Boost Your Business appeared first on Mike Michalowicz.

How to Create Passive Income That Could Save Your Business

This week, I want to remind you that challenges provide opportunities.

No matter where you are in the world, you’re going to have challenges, and it’s not lost on me that some are far more dire than others. But, I want to talk strictly from a business perspective for now. 

When challenges come knocking on the door of your business, you have two choices: Dig your heels and hang on to what you have for dear life, or actively look for strategies to sustain your business. 

I won’t purport to have 99.9% of the answers, because I’m no poli sci major or expert in global economics. What I can do is offer some ideas to strengthen your business during an incredibly turbulent time. I hope you consider them. While challenges can be scary, they’re opportunities nonetheless. Anyone can shine in the nexus of a burgeoning economy and lesser charged political climate. Imagine how much more you’d stand out if you succeed in scaling during a crisis? (Yes, this is me looking for hay where the sun may not be shining, but stick with me.)

If you haven’t already, consider creating some passive income offerings. You may feel like this is poor timing. Or, perhaps you have a local, service oriented storefront or shop that you feel locked into. But if you own a business, it’s because you’re an expert in your industry. Being that expert in your industry, you have knowledge to share. That knowledge is a valuable commodity, and there are people out there looking for the wealth of industry knowledge you have so they can level up their own company or start their own businesses. Not only will you create passive income for your small business, but have the ability to sell your offering internationally at the same time.

Can I create passive income with my local business?

If you have a computer, most of you can create passive income and sell internationally. I know some folks who have restaurants, auto shops, barber shops, and the like, and may feel that a local service industry isn’t internationally relevant. Some of you are in real estate and law, or businesses that abide by certain regulatory dynamics  that won’t transfer globally. 

I’m a true believer in the old adage, “Knowledge is power”. Access your wealth of knowledge that landed you in the position you’re in and provide it to others. 

Passive income – where to start:

First to note: When you start your passive income and international business plan (no matter what scale the offering), be sure to recognize that not all countries operate the same way. This will impact the type of product you offer.

Here’s where I drop some trade secrets on you (am I supposed to divulge this much information?) so you can reach your financial goals. The easiest way to make passive income is to create and sell online services. You can provide a training program to train anyone, anywhere. You have access to a global community simply by sharing your knowledge (with a fee!). If you feel your business model in Australia won’t work in say, India, there is still an opportunity to share your knowledge and experience. Think about your journey so far, your skillset, trade, mindset, books you’ve read, and any other resources that have been effective in growing your business. Here are a few ideas that we’ve actually implemented in my company:

Create “How To” training modules – Think about the transformations you’ve undergone and then create step by step modules to provide fellow business owners or tradies with all the things you wished you knew and learned the hard way.  What are some services you offer that people usually need training for, or have questions about? You can create multiple recordings of a specific skill you have and roll it all up in an online training. If I could fix a furnace you better believe I’d have created a training and sold it by now. Are you a chef? Create some culinary related training. I even know of a private chef in Mexico who created an international food tour business – from her couch. Get inventive.Create an online course – What are the crucial steps that you, yourself, took to make your business a success? Did you employ a certain system for sustainability in your business? Perhaps you adopted  a mindset that leveled up your personal life and/or your company. We’ve created courses around confidence – which I found is the foundation required for all business owners. We have a course on selling authentically, because sales can feel gross otherwise. We have a course about company culture, too. All of these were born out of our hard earned experience and are completely based on thought leadership and sharing knowledge we implemented that lead to success in our business.Create an online merchandise shop – If you have access to the internet, you can create merchandise that relates to your business and sell it online. If you have a logo slogan, or inspirational statement related to your business, you can sell them on t-shirts, mugs, totes, wall hangings, or day planners. You decide, and get creative. Check out sites like Shopify for charging, and online print on demand and fulfillment sites similar to Printful. Besides, your marketing game is kicked up a notch when someone sees your merchandise. Write a book – While not online, writing my first book was a turning point for me, my family,  and my business. Yes, it takes time and effort to get your book out there, but there’s no better way to establish yourself and an authority in your industry. Not only will you be viewed as the expert, but you’ll also be helping potentially millions of people overcome challenges and grow stronger businesses and skill sets through what you share. Additionally, your book(s) will act as a lead generator for your own business. 

If the idea of creating more business based on passive income feels overwhelming, that’s ok. Most bold moves do.  It’s relatively new to us too. If you’re concerned about cost effectiveness, note that my business created all of the above offerings. Each process was fairly easy and not expensive or demanded much time, aside from the time it took my team and I to record or create the initial products. Our courses consist of multiple recorded modules that when put together, create one large course. Sometimes I have webinars that are free, to drive sales for a larger one or two day seminar. I never pressure folks, and I am sure to be transparent and authentic in my desire to share what I have learned with others so they can benefit too. And, this all acts as passive income and requires little upkeep.

Start taking notes and start here: What services do you provide, and how can you broaden your knowledge sharing in a valuable way to others in your industry?

If all of this feels a little out of reach, remember, I walk the walk. Most of these offerings are new to my business and created only in the last few years.

Creating an international business is a win/win. Not only will you improve the sustainability of your business, but just as importantly, you’ll serve the community in your industry in a way that they didn’t have access to before. The most important point I can drive home: We don’t know what the future holds for our local economies, so strengthen the sustainability of  your business by making it globally accessible. 

Share your knowledge. Everyone wants to consume that. 

I can’t wait to see what you create for your business.

Wishing you happiness, health, and wealth.

Mike

The post How to Create Passive Income That Could Save Your Business appeared first on Mike Michalowicz.

Making Your Small Business International

This week I want to remind you that challenges provide opportunities.

As I write this, many of us are feeling unsettled. The invasion of Ukraine has held yet another mirror up to the vulnerability of the world at large. All while we’re attempting to move through what we’re hoping is the tail end of a global pandemic. Are you digging in your heels and hanging on to what you have, or are you actively looking for coping strategies – both personally and in your business?

I won’t purport to have 99.9% of the answers, because I’m no poli sci major or expert in global economics. What I can do is offer some ideas to strengthen your business during an incredibly turbulent time. I hope you consider them. While challenges can be scary, they’re opportunities nonetheless. Anyone can shine in the nexus of a burgeoning economy and lesser charged political climate. Imagine how much more you’d stand out if you succeed in scaling during a crisis? (Yes, this is me looking for hay where the sun may not be shining, but stick with me.)

If you haven’t already, consider taking your business international. You may feel like this is poor timing. Or, perhaps you have a local, service oriented storefront or shop that you feel locked into. But if you own a business, it’s because you’re an expert in your industry. Being that expert in your industry, you have knowledge to share. That knowledge is a valuable commodity, and there are people out there looking for the wealth of industry knowledge you have so they can level up their own company or start their own businesses. As a bonus, you’ll create passive income for your small business at the same time.

How to create an international business:

If you have a computer, most of you can sell internationally. I know some folks who have restaurants, auto shops, barber shops, and the like, and may feel that a local service industry isn’t internationally relevant. Some of you are in real estate and law, or businesses that abide by certain regulatory dynamics  that won’t transfer globally. 

I’m a true believer in the old adage, “Knowledge is power”. Access your wealth of knowledge that landed you in the position you’re in and provide it to others. 

How to create an international product. First to note: When you start your international business plan (no matter what scale the offering), be sure to recognize that not all countries operate the same way. This will impact the type of product you offer.

Here’s where I drop some trade secrets on you (am I supposed to divulge this much information?) The easiest way to make your business an international one is to create and sell online services. You can provide a training program to train anyone, anywhere. You have access to a global community simply by sharing your knowledge (with a fee!). If you feel your business model in Australia won’t work in say, India, there is still an opportunity to share your knowledge and experience. Think about your journey so far, your skillset, trade, mindset, books you’ve read, and any other resources that have been effective in growing your business. Here are a few ideas that we’ve actually implemented in my company:

Create “How To” training modules – Think about the transformations you’ve undergone and then create step by step modules to provide fellow business owners or tradies with all the things you wished you knew and learned the hard way.  What are some services you offer that people usually need training for, or have questions about? You can create multiple recordings of a specific skill you have and roll it all up in an online training. If I could fix a furnace you better believe I’d have created a training and sold it by now. Are you a chef? Create some culinary related training. I even know of a private chef in Mexico who created an international food tour business – from her couch. Get inventive.Create a course – What are the crucial steps that you, yourself, took to make your business a success? Did you employ a certain system for sustainability in your business? Perhaps you adopted  a mindset that leveled up your personal life and/or your company. We’ve created courses around confidence – which I found is the foundation required for all business owners. We have a course on selling authentically, because sales can feel gross otherwise. We have a course about company culture, too. All of these were born out of our hard earned experience and are completely based on thought leadership and sharing knowledge we implemented that lead to success in our business.Create an online merchandise shop – If you have access to the internet, you can create merchandise that relates to your business and sell it online. If you have a logo slogan, or inspirational statement related to your business, you can sell them on t-shirts, mugs, totes, wall hangings, or day planners. You decide, and get creative. Check out sites like Shopify for charging, and online print on demand and fulfillment sites similar to Printful. Besides, your marketing game is kicked up a notch when someone sees your merchandise. Write a book – While not online, writing my first book was a turning point for me, my family,  and my business. Yes, it takes time and effort to get your book out there, but there’s no better way to establish yourself and an authority in your industry. Not only will you be viewed as the expert, but you’ll also be helping potentially millions of people overcome challenges and grow stronger businesses and skill sets through what you share. Additionally, your book(s) will act as a lead generator for your own business. 

If the idea of creating a business that can operate on an international level feels overwhelming, that’s ok. Most bold moves do.  It’s relatively new to us too. If you’re concerned about cost effectiveness, note that my business created all of the above offerings. Each process was fairly easy and not expensive or demanded much time, aside from the time it took my team and I to record or create the initial products. Our courses consist of multiple recorded modules that when put together, create one large course. Sometimes I have webinars that are free, to drive sales for a larger one or two day seminar. I never pressure folks, and I am sure to be transparent and authentic in my desire to share what I have learned with others so they can benefit too. And, this all acts as passive income and requires little upkeep.

What service do you provide and how can you share your knowledge in a valuable way to others in your industry?

If all of this feels a little out of reach, remember, I walk the walk. Most of these offerings are new to my business and created only in the last few years.

Creating an international business is a win/win. Not only will you improve the sustainability of your business, but just as importantly, you’ll serve the community in your industry in a way that they didn’t have access to before. The most important point I can drive home: We don’t know what the future holds for our local economies, so strengthen the sustainability of  your business by making it globally accessible. 

Think globally. Share knowledge. Everyone wants to consume that. 

Wishing you happiness, health, and wealth.

-Mike

 

The post Making Your Small Business International appeared first on Mike Michalowicz.

How Leaders Can Empower Their Team and Avoid Their Own Great Resignation

There’s been a lot of talk about “The Great Resignation”. I’ll be blunt. Every time I hear the phrase I think about how it could have been so easily avoided. 

First, let me say that strictly from a business standpoint, what entrepreneurs and business owners everywhere have endured since the start of the pandemic is not lost on me. I personally know business owners who had to shutter their dreams – for good. It breaks my heart. 

If you made it, like I know many of you have, you still have some challenges to face. Let me help you eliminate one big one: The dissemination of your team. Your own company’s Great Resignation. 

Let’s back it up. When you’re forced to stop your routine for a prolonged time, it’s normal to reevaluate where you are in life. Thanks to the pandemic, we’ve been taking stock of every damn thing. Like New Year’s Day on steroids. Only far scarier. So when a large percentage of employees were removed from their daily environment and routine at an office, and sent home to work, their landscape changed. Literally and figuratively. Things started to look – different. 

Is The Great Resignation that big of a deal? According to the U.S. Bureau of Labor and Statistics, 33 million Americans quit their jobs since the Spring of 2021. Maybe you haven’t experienced this first hand, but the stats don’t lie. So who’s quitting? 

Just about, well, anyone who isn’t happy at work and has a better opportunity. Millennials have a little more wiggle room to design their life due to less outside responsibility. Millions of parents with secondary jobs who needed to stay home with their kids hit the bricks. Mid-career employees who were facing employee dissatisfaction decided to look for better, and found it. Some folks later in their careers decided they could retire early. Millions of employees realized they were working in a toxic environment and/or felt employee dissatisfaction. Everyone from millennials to baby boomers started asking, ‘What am I really doing with my life and what can I do about it?” Basically, if the pandemic didn’t paralyze you with fear, it gave you the stones to take big steps forward.

The summary? The Great Resignation has been born from a great reframing of our lives. And it’s forcing necessary conversations about work culture. 

Leaders may think they did everything they could to pivot their business when the pandemic hit. If your business allowed for it, virtual work became the norm. It used to be that when you heard the term, “work from home”, there was a little side eye attached. I think we all quickly learned that just because you don’t report to a workplace, the demands aren’t less. In fact, there were more hoops to jump through between getting a virtual arrangement coordinated overnight and finding a surface to work on at home if you didn’t already have an office. The dynamics of in person employee interaction changed. People often felt detached. Most of all, for your employees, boundaries between work and home life got blurred – real quick. Working from home didn’t offer much comfort (except for the ongoing jokes about the lack of pants during Zoom calls).

For years, it’s been accepted –  the hustle, burnout, long workdays, the unrelenting expectation of climbing the ladder, and the deterioration of mental health. Like an out of body experience, employees began to see how they had been spending their time, where they were giving their energy, and if any of it was really worth it. And when people start to evaluate if something is worth it, they already have one foot out the door. 

What I’m getting at is that there are fifty factors off of the top of my head that could contribute to your own company’s Great Resignation. What’s stopping your team from taking that next step out of your company’s door? 

My simple solution? You. It starts with you, the business owner. You need to beat The Great Resignation with becoming a Great Leader. An evolved leader. The world economy is evolving, so your leadership needs to as well. Right now. (I’m serious. Now. Start taking notes and apply them today.)

Is your business worth it? I assume so. If you have a great team, you need to beef up your employee retention strategies. Your team needs to feel that they are:

ValuedFulfilledEmpoweredWell paidHave real (not lip service) work life balance

This all starts with you. It starts with you adapting leadership to the new needs of the economy and work culture that’s developing. While you may feel you already have this in the bag, I invite you to do the work – the real work.

Employers can avoid The Great Resignation, starting with ensuring employees feel valued. Employee engagement is just the tip of the iceberg, but crucial. By now, you’ve recognized just about everything is evolving. That evolution goes for your employees’ expectations, too. What was necessary for your team member to succeed and and out of work has likely changed since she or he was hired. Perhaps they have outgrown their role. Maybe they require more family time. Do you know what your employees need?

Start here: Run an audit of where your leadership stands in your business, and how you can reframe your leadership and avoid being a statistic in this Great Resignation. 

How to run the audit – Start with an anonymous survey. Be transparent about why you’re conducting it, and that you’re considering reframing your leadership for better employee satisfaction and fulfillment. Ask questions such as:

Are you fulfilled at work?Do you like your role?Would you like to take on other tasks?Would you like to eliminate some tasks?What would make you feel happier at work?Do you have life/work balance?Do you like your hours?How are your working relationships?What would you like to see improved overall in the business?What would temp you to accept an outside job offer?

Once you’ve collected your data, get real with yourself about how you can reframe your leadership style to accommodate the needs of your team, and increase employee retainment. Remember:

What’s the best leadership skill? Listening. The evolution in the workplace we’re experiencing calls for one big shift in leadership. Don’t be lazy about this. Seek and implement new systems, from daily meetings, to 1:1’s and anonymous surveys. Listen to what your employees are saying about their jobs, because your business relies on it.Empowerment – Empower your team members by giving them autonomy over their roles. They’ll be invested like owners. And, you as the owner, will do less micromanaging. I know, it may be hard to let go at first, but usually when you place your trust in your team members, they are far more dedicated.

You may find developing your leadership style is challenging at first, but look at it this way: Are you the same person you were in high school? Are you the same person as when you began your business? Heck, are you the same person you were a couple of years ago? Likely not. We are always evolving, growing, redirecting, and improving. The world is changing. Accept it, grow with it, and create an impactful leadership style that promotes positive change.

Stay tuned for more leadership topics. Be the new leader. Create a culture your employees would be crazy to leave. 

The post How Leaders Can Empower Their Team and Avoid Their Own Great Resignation appeared first on Mike Michalowicz.

Brainstorming for Small Business



When you start any project, do you expect your process to be linear?

Here’s the deal. No journey is completely straight. No new journey, anyway. And if you’re going to be a pioneer in your small business and stand out, you need to take that road less traveled. 

I initially learned this lesson when writing my books. 

Each book I write for small business is a multi-year project. In this video, you see the beginning stages. It shows the first hour of work, a lot of it, unused. (And clearly not environmentally friendly. I promise to recycle.)

This brainstorming session? And the ones after? Completely necessary, and not garbage. To get your next project right, you have to dig, extract what works, get rid of what doesn’t, then dig some more. While it may not feel like you’re clearing the finish line as fast as you want, this is the most integral part of the process. 

When it comes to strategizing and planning in your business, remember that it’s the exploration stage that leads you to your destiny. You must be open to the fluidity of the process. You may end up with an entirely different – and better – project. It can get messy, but please don’t ignore this critical exercise. Don’t devalue what doesn’t work. All of the ideas that you explore, but don’t use? Those ideas are almost as important as what you do use. What you discover doesn’t work is just as important as what does. 

 

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The Greatest Leadership Lesson I’ve Learned



The best leadership lesson I have learned as a small business owner is this:

When it comes to leadership, It’s not about me. (I know, shocking, right?)

The real job of a leader is to ensure the organization aligns with what the team is looking to achieve personally with what the company is looking to do. 

If this sounds too fluffy for you, stick with me for a couple minutes. 

A good leader nurtures the team. A good leader empowers the team. A good leader understands the goals and objectives of the employees. Why? Because a good leader knows that the happier and more supported employees are, the more profitable a business will be.

I wasn’t always the supportive leader that I am today. But, I love seeing my employees succeed, and if I can be instrumental in that, I am. Here. For. It. 

This doesn’t mean I have a line of employees outside of my office door waiting to discuss their challenges. It does mean that I, and the president of our company, Kelsey, have implemented several systems and visuals around the office for our colleagues to share their personal and professional goals. In response to their shared goals, we try to align the goals of the company to make space for, or financially support, employees’ goals. (This is also where profit sharing comes in, but that’s a whole other blog.)

So, how do we gather all of this goal alignment intel? Our Q1 meeting is made up mostly of my colleagues and me going over last year’s goals, and the new goals we want to achieve. Yes, we discuss sales and marketing strategies and profitability. But who is making that happen?

The team. 

The humans in your organization are the ones scaling your business. When they have fulfilled lives, your company’s efficiency increases. After all, your team is made up of the people who implement all of your grand plans, right? 

We spend about 10-15 minutes for each team member, discussing how their previous goals went, and what their new ones are. And, in each meeting we have during the week, each person has a turn to report on their professional and personal development. This gives us an opportunity to make suggestions, support them, and help them pivot if needed. 

We walk all of this talk too. When you enter our office you’re basically bombarded with evidence of goals everywhere you look. It kind of acts as one huge mood board. Everyone has their goals written on a poster at their desks. Heck I have a typewriter with my goals on a page sticking out of it. Representation of what we want to achieve and measurement of it is everywhere watch the video for the full monty). It may sound overwhelming at first, but even our most introverted employees are on board because they’ve seen how goal alignment works in their lives. 

Start understanding the goals and objectives that your colleagues have. Not just for the business, but for themselves. Then, you can align your business around their goals to help them meet those goals. It takes nothing away from you or your business. In fact, it will only enhance efficiency and productivity (read: profit).

What are your teams’ intentions for 2022? It’s not too late to find out. Hold a meeting with a personal goals exercise and see how you can align your business and your employees to meet personal and business goals all at once. 

Remember, a good leader marches the path with the team. 

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