Mike Michalowicz's Blog, page 98
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!
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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.
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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.
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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.
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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. >>
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Be Able To Sell By Changing Your Body Language In 7 Ways
Sales are the backbone of any business. As an entrepreneur, you already know this. But you may not realize just how important how you deliver your sales message matters, especially when it comes to body language. Experts believe that we communicate more through our body language than we actually do by what comes out of our mouth. Because of this, it’s essential to make sure you are doing all you can to use this to your advantage.
Silent Language
Although your body language doesn’t make any noise to your customers, it actually says a whole lot. These microexpressions that we give off, through everything from hand gestures to facial quirks, help people to read us and our message and have a major impact. In the sales world, if you can use body language to build trust with your customers, or at least not deteriorate it, then you will come out ahead.
Here are 7 ways that you must change your body language to be able to sell:
Exude Confidence. Stop slouching! Standing up straight, leaning slightly forward and having your shoulders back will make you look more confident and attractive. Also, relax your shoulders so you don’t seem tense.
Connect with Others. Match the speed you are speaking to others in the room. If you speak too fast, the other person will feel pressured. Too slow, and they will think you are lazy or talking down to them. You should also make sure to nod once in a while as you listen to someone else.
Be Calm, Cool & Collected. If your hands are up and you’re rubbing them together, you are obviously excited. If they are clenched and together, you are frustrated. Keep your hands in front of you or on the side and relaxed, with fingers together. This will demonstrate that you are calm, cool, and collected.
Put Yourself on Equal Footing. When it comes to handshakes, it’s all about the pressure. If you apply too much pressure, you are perceived as domineering or ignorant, but if you are too weak, people will think you have no self-confidence. You want to aim to mirror the other person’s handshake, which will put you both on the same page.
Honest Abe. Don’t touch your face. Slightly covering your mouth, rubbing eyes, scratching your nose or touching other parts of your face when you talk is an indicator that a person is lying. Picking your nose, now that’s a whole other story.
Make the Eyes Count. The eyes send powerful messages. Make sure you make eye contact, but avoid staring. Too little, you will be seen as insecure or lacking interest, while too much, and they may find you a bit strange. Eye contact can help build a connection, so be sure to make eye contact at least half of the time.
Watch the Arms. The way that we hold our arms is a cue about how open or closed we are. So this means you should avoid crossing them, which will make you seem closed off or defensive. Rather, just relax them at your side.
Making the Connection
Experts believe that up to 90 percent of the communication we do is non-verbal. Which means you really need to be aware of what your body is saying to your clients. Even if you are not aware of it, they are. You may be doing a great verbal sales presentation, while your body language is ultimately killing the deal. So make it a goal to focus more on your body language in your next sales meeting. My guess is that you are pleasantly surprised at the results!
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December 22, 2014
Episode 7: Presenting Your Brand Profitably With Lisa Robbin Young
Lisa Robbin Young,business coach and trainer, joins Episode 7 of the Profit First Podcast. Lisa explains the art of speaking on stage and selling your product successfully.
Our Guest
Known as “The Singing Business Coach” Lisa Robbin Young is a business coach and trainer, helping owners of personality-based businesses build a Noble Empire and live an inspired life. She’s also an award-winning author and musician, currently working on a project to record 300 songs in a variety of genres, including jazz, pop, swing, and blues. Lisa believes that the best way to be truly successful in life and business is to be yourself – warts, sparkles, and all. She’s on a mission to help you own your dreams without selling your soul.
Show Quotes
The money doesn’t just come from the “main stage,” it comes from multiple revenue streams.
Many speakers make more money in back of the room sales and other offerings than the speaking event itself.
You gotta test stuff. You gotta through stuff out there.
Be more mindful of profit from the beginning.
Profit first and the people next. It sounds evil, but if you ignore profit you can’t keep the people.
Lisa’s favorite quote about profit: “Always be a first rate version of yourself and not a second rate version of someone else.” – Judy Garland
Show Links
Lisa Robbin Young on Twitter: @lisarobbinyoung
Lisa’s Dreamblazing Project: an annual planning program for personality-based business owners
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 7: Presenting Your Brand Profitably With Lisa Robbin Young appeared first on Mike Michalowicz.
December 19, 2014
Need Working Capital? Check Out Online Loan Options – By Meredith Wood Of Fundera
If you own or run a small business, there is a large chance that at some point in your business’s lifetime, you are going to need capital to fuel growth. It’s one of the highest priorities, as well as largest obstacles, for small business owners.
Small businesses are the backbone of our economy and cash flow is their lifeblood. When they need cash to run and grow, they should be able to access it.
However, a disappointing trend has started to take place with small business lending. Banks, the traditional source of funding for small businesses, have drastically cut their loans to SMBs. In fact, about 82% of small business loan applications are denied by the bank.
Why?
Coming off a tremendous recession, banks have become more risk averse. Small businesses are inherently riskier than larger businesses, which forces banks to be more hesitant in doing business with them.
Secondarily, small businesses are usually seeking smaller loan amounts. They often just need $20,000 or $50,000 to get where they need to go. But, for banks, it costs them just as much to underwrite a large loan as it does small one. So, for any loan under about $1 million, the bank is essentially losing money.
What does an entrepreneur do if he needs a business loan?
If you have a strong financial history (both as a business and an individual) you still might want to try the bank. You will find the lowest-cost loans at the bank. Be prepared that bank applications are incredibly lengthy and the time to funding can take months. If you need cash fast, the bank might not be the best option.
If you are denied by a bank, don’t have time to go through their process, or are unsure of your financials, you should take a look at a whole new industry of “online lenders” or “alternative lenders” that have rose up in response to the banks being MIA.
The alternative lending industry is booming, doing over $3 billion in loans in 2013. They also are approving about 60% of applicants, giving you a strong chance of finding working capital.
Here are some things you need to know about alternative lending:
1. Faster Time to Funding
Online lenders have the capability of getting cash into the hands of borrowers much faster than banks.
One reason this is possible is because the applications are shorter. Many alternative loan applications can be completed in minutes.
Secondarily, these lenders have faster approval times as they are net-natives. Due to the online nature of their business and their technology-enabled algorithms, some alternative lenders are able to get funding to borrowers in as little as 2 days.
2. Diverse Products
Another interesting aspect about online lending is that it offers a diverse range of products. Beyond traditional term loans and lines of credit (which are also available through online lenders), borrowers have access to products such as short-term loans (some as little as 3 months), invoice financing and equipment loans.
This offers borrowers an advantage if they have or potentially have particularly strong collateral (such as invoices or equipment), or only need a quick cash infusion and don’t want debt on their books forever.
3. Options for Those With Bad Credit
Alternative lenders are able to take on more risk than the banks, which allows them to work with borrowers whose credit is less than perfect. Before, credit-challenged borrowers didn’t stand a chance. There are many online products where collateral or strong revenues can help offset an okay credit score.
4. Higher-Priced Loans
One important word of caution — alternative loans are going to be higher-priced than bank loans, and in some cases, the APRs can be extremely high. Ensure you completely understand the cost of a loan before committing to anything.
If you are thinking about looking for a loan online, the best advice I can give is to shop around. You want to make sure you are getting the lowest-cost loan possible and working with a lender who has your best interest at heart. Make sure the lender tells you upfront what the APR is, as well if there are any fees associated with the loan outside of interest. Be sure to read through the lender’s reviews. Trustpilot.com is a great site for online lender reviews.
If you are in need of working capital and don’t have time to wait for the banks (or can’t qualify for a bank loan), online lending is your next best step. Don’t let a bank’s “no” keep you from growth.
By Meredith Wood
Meredith Wood is the Editor-in-Chief at Fundera, an online marketplace for small business loans that matches business owners with the best funding providers for their business. Prior to Fundera, Meredith was the CCO at Funding Gates. Meredith is a resident Finance Advisor on American Express OPEN Forum and an avid business writer. Her advice consistently appears on such sites as Yahoo!, Fox Business, Amex OPEN, AllBusiness, and many more.
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December 18, 2014
4 Reasons Why You Should Never Force Holiday Work For Employees
My jaw dropped, and not because there was more turkey and pie. I was watching football with my family after enjoying a delicious turkey dinner, and the news came on with a horrible holiday story—that stores would start opening at 5 p.m. on Thanksgiving Day to kick off the seasonal shopping madness. I couldn’t believe it. Not that people would go shopping (that’s their choice). I couldn’t believe that employees were required to work on Thanksgiving. Enough is enough. I support businesses and their right to earn a living, but I don’t support their decision to do so by making employees work on Thanksgiving.
I am pissed and disappointed in the shortsighted, make money now mentality that the business owners and managers behind the scenes have. I’m not picking on any particular business, but did you ever wonder why one of the popular big box stores have a turnover of half of their entire staff every year? What do you think that’s costing them?
So, in the holiday spirit of promoting goodness, I’m going to tell you why forcing your employees to work on holidays and to come in midnight the day after a holiday, or prep on a holiday for next day shopping is really, really bad for your business:
1. You get your employee’s family involved - when an employee works the holiday for you, they don’t just suffer being away from family, family suffers from being away from them. What happens when they get home? Their family tells them how evil your business is for taking them away from family time. Now you have a family that hates you and who will undermine your employee’s job there. They will remind the employee every day your employee goes to work that you are a scrooge.
2. Power of reciprocity – we get what we give. Maybe you’ve heard it as, “What goes around comes around,” or “Payback is a bitch.” Yeah there’s karma, reciprocity and payback, yet many don’t realize they all work both ways. If you take care of your people, they will take care of you. If you squeeze every ounce of juice out of them… they will do the same to you. The rule to follow is for you to do the dirtiest worst work yourself… and if you don’t like it, they won’t either.
3. Negative association for your business – When you have employees working holidays, they are sure to miss out on major family moments. The cool gift, or the funny moment with drunk Uncle Al, their own child taking his/her first steps, or opening their first present. Whatever it is, the stories and photos about the event will live on and be shared… and the employee who was working for you won’t be part of it. They will associate working for you, with missing out on life. And when it comes time to be there for you, they won’t be. Not good.
4. Passive aggressive payback—employees will keep their low-paying, crap jobs even if you continue to treat them poorly. But they’ll find other ways to ding your bottom line. They take longer breaks, or spend more time complaining about you to co-workers rather than working. They’ll develop the, “It’s not my job,” attitude and ignore customers. They’ll feel and act resentful towards customers. They engage in work slowdowns at the checkout, stocking and service lines. They’ll nibble away at your bottom line until your business collapses into a huge sinkhole of negativity. Your “lean and mean” treatment of the people who represent your bread and butter, your life, your business determines whether those employees are going to be patting you on the back, or sticking the proverbial knife in it.
I know you don’t want to miss out on those holiday sales, so do something different. Give your employees the time off for the holidays. Close down for Thanksgiving and the day after and let your employees come back rested and refreshed for the holiday madness. Host a “Post Black Friday Sale.” Pay them for the time off. I know, I know you’re trying to make money, not spend it, but you want this to be a genuine time to reward your employees.
By doing this you’re telling your customers you value your employees, and by default you value them as well. It may take a year or two to catch on, but chances are you’re going to be rewarded more for doing the right thing. Studies show that most people do their holiday shopping at the last minute anyway. You may lose one big sale day, but you’ll gain so much more in employee and customer attitude, gratitude and loyalty.
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December 17, 2014
Is Positive Thinking Bad For Your Business?
Is there such a thing as being too positive? Yes. Positively yes.
At a recent Anthony Robbins event, run by the king of positive himself, nearly 24 people severely burned their feet while walking across burning coals. The objective of the fire walk? To provide people with a metaphor for overcoming their fears with positive thought. I look like at least 24 of them did have enough positive mojo going on. In fact, one participant who suffered third degree burns to his feet, stated that he was obviously not thinking positively enough.
Today we are inundated with the requirements of positive thinking. In fact, any ills you face in business or in life, as the philosophy goes, can be pinned on not thinking positively enough. Want to magically attract millions? Have positive thoughts so the Law of Attraction can bring it to you. If you the riches don’t magically appear, you simply were not thinking positively enough.
Having a down day, just picture yourself on a beach with a Margarita in your hand and you will be cured. Not.
Negative thinking is natural. It is part of the human experience, for every human. And just like everything in life, we need balance. Too much of a good thing is still too much. That includes too much positive. It will throw you out of whack and hurt you.
Here’s how you are overdoing:
1. Affirmations – Are you using the method of Stuart Smalley “I am smart enough” positive affirmations into a mirror to get your positive juices flowing? Think again. Inauthentic affirmations that we say to ourselves are automatically followed up with counter negative argument. For example, when you say to yourself “I am smart enough” your mind instantly asks “then how come you are such a failure right now.” Inauthentic positive affirmations actually make you feel worse about yourself.
2. Visualization – The Law of Attraction suggest you visual a positive outcome. Perhaps you will visualize that new car you want or a new client you want to land. Then, as the Law of Attraction professes, sit back and let the universe deliver it to you. You wait and wait. This form of positive thinking puts us in the dangerous trap of inaction. Sitting and waiting never brings results. Even lottery winners need to go out and buy the ticket.
3. Goal Setting – This is potentially the most common form of positive thinking in business. At face value it makes complete sense. Determine you want for your business over the next yets, then outline the positive goals that will get you there. So far, so good. The problem happens is when things change but the goals don’t. Goals that are positive, but don’t adjust to the changing dynamics of the environment around become a dangerous blinder. You positively adhere to goals that will no longer serve your business.
Being positive isn’t bad, it is simply being overdone. Being negative isn’t bad either, it’s value is just being ignored. The fix is the tried and true “moderation in everything.” So start getting a little more negative in business. . . it will positively help you.
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