You need a clear picture of what you want your business to become. We call this Strategic Intent.

Did you know that 80% of new businesses fail in the first five years and that 80% of the remainder don’t make it to ten years? The outcome of these statistics? A 96% failure rate or a 4% success rate. Scary, right? But it’s a sad truth that most new businesses fail.

Given that all of those businesses were working in the same economic conditions and climate, what was it that the 4% had that the 96% didn’t? The 4% succeeded because of their mindset. They had a mindset about knowing where they’re going and then working out how to get there. That involves having a very clear strategic intent. Continue reading →

As you go along in your business, are you realising that doing business and running a business are two separate things? Not really clear on how you should be thinking about leadership and management? Read on…

Leadership and management. Rather than being two different qualities, they are interconnected. Leadership is a part of management. Management is applying the skills and abilities that shape the business and controls its activities so that it can achieve its set goals. Management includes leadership and also administration, which is about organising and controlling the activities of the people and the systems. Is it possible for a business owner to have any one with out the other? Yes. You can be purely a leader as long as you have good administrative support and a strong management team. However, most small businesses don’t have that luxury and when they do, they are no longer small businesses. Continue reading →

Having never done staff performance reviews in the past, are you thinking now is the time to start? Here’s how to get started and how to do it without sounding threatening.

If you’ve never done them before, you will need to think carefully about why you are introducing performance reviews. If it’s to help them develop as an employee and a person, then go for it. However, if you only want to use it as a disciplinary tool, then forget it and check that the revolving door in and out of your business is in good order – because it will get some use as they depart and the next one comes in.

Having said all that, the key points in a performance review are to discuss how they are going in the job; to receive feedback from their manager; to give feedback to their manager; to decide together what both need to do in order to optimise the effectiveness of the staff member’s work; to review goals set at last performance development and set goals for going forward; to discuss their professional development needs; and to give them the opportunity for action to be taken if their performance is outstanding. Continue reading →

Are you taking steps to grow your business, but finding the process painfully slow?Although you are clear on what you want, does growth still seem elusive? Keep reading to find out how to get there. Continue reading →

Are you suspecting employee frustration in your business?
Here’s how to handle it.

Let’s face it. Employees get frustrated too. But how do you know they are if you don’t ask. The biggest step towards addressing problems both seen and unseen and to being an effective manager is to ask questions of your employees. Let’s say  your employee is experiencing frustration because 1) he/she doesn’t know what their job really is and 2) there is inconsistent direction and instruction.  The two frustrations are related, with the second almost certainly a direct result of the first. What happens in many small businesses is that the owner nominally gives someone responsibility and then takes it away, saying, “I know what to do here, let me handle this one.” The result is that the employee is never fully given the chance to manage or take on higher accountability. The missing piece here is a clear understanding on both sides of what the job entails.

With all our business coaching clients we introduce written Job Agreements. Continue reading →