When Does It Make Good Business Sense to Upgrade Your Technology?

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With the latest release of Windows 10, it has many small business owners left wondering if they need to upgrade, buy new computers, put your applications on the cloud, buy new secure hosting packages, and more.

While as a business mentor to many small businesses I cannot answer tech-y questions, I can provide you with some guidance in making your office technology decisions.

Tell them how you are going to use it rather than what you need. Unless you are a tech-savvy owner, it’s best to let the experts tell you what technology will meet the needs you have, rather than the other way around. If you present a shopping list of laptops, desktops and routers, you could be buying technology unnecessarily.

Technology assessments outline what it is you want your system or technology to do. Before considering whether to purchase new computers, software applications, phone systems or networking services, you need to identify plans for using the technology. This is not always an easy task, especially when difficult questions arise about the capabilities and limitations of the technologies. You can hire an IT expert to help you conduct a technology assessment or you can conduct one yourself, but have no doubt they are invaluable tools in assessing your technology needs.

Have a technology plan which details what resources already exist and what is planned for the future. It also looks at areas of growth, contingencies, and investment vs. returns. Having technology that is up-to-date and helps increase efficiencies, reduce redundancies, and supports seamless growth is always a good idea.

Technology is forever changing and while it is important to make note of the changes, remember to not get caught up in trends and to stick to your plan and only invest when it will benefit your business.

Has your company invested in your technology recently? Did you do it because of recent trends or as part of your plan? Did you hire a technology expert or do it internally?

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Top 5 Myths for Business Owners Wanting to Mentor Employees

Business_MentoringMany business owners feel that mentoring their employees is part of their job, particularly when hiring millennial junior staff, but I caution you against doing this as it can have detrimental effects on your business. When you are in a position of power, and responsible for hiring, evaluating, disciplining, and firing, if you blur the lines of this employee-boss relationship into a mentoring relationship, you give up this power and therefore must live with the consequences if something was to go wrong.

When you need an employee to perform for you, how can you possibly mentor them? A mentor, as I outlined in my last blog, “is a trusted “go-to” person with decades of expertise and a deep interest in helping you succeed. They take a personal, active, and thorough interest in your growth and work in partnership with you to provide the support you need.”

Although many owners provide guidance and business expertise, it is to help their staff learn their job and to familiarize them with the industry. It is, in fact, to help them grow in their role and with your company.

I discuss employee mentoring all the time with business owners because it can have serious consequences to your business. I have outlined a few myths about mentoring employees that I hope will provide you with some insights to help you better understand the issue.

Myth #1: As a business owner, mentoring your employees helps them perform better, improves morale, and can help your business succeed. The opposite is true because an employee you mentor begins to see you more as a mentor (there to help them) rather than a boss who is there to teach them, ensure they perform well, and also discipline them if something goes awry.

Myth #2: Being a supportive boss is a type of mentoring. Being a supportive boss is a fantastic managerial style, however, do not mistake this style with mentorship. There always needs to be a clear line between an employee and an owner. If the relationship becomes too casual, you could run the risk of favouritism, or providing biased critiques, and this could lead to performance issues and profit loss.

Myth #3: My staff needs a mentor to show them the ropes. A mentor does not show employees how to do their job; rather, they encourage them to reach their career goals. If you need your staff to learn the ropes, then what they need is a good manager, or senior staff to job shadow.

Myth #4: I know what my employee needs to succeed. As an expert in your field, you may have some insights as to what your employee needs to succeed, but your role is to help them succeed in the job for which you have hired them. If, for example, their career goal is to work overseas, are you willing to help them meet this goal as a business owner when it runs counter to their employment with you?

Myth #5: The best bosses are mentors that help an employee grow. Being a good boss with a supportive management style will help your employee grow. As a business owner, you can help your employee grow by reaching their goals of the job, and challenging their boundaries to success; a mentor helps employees grow their careers, reach external goals (e.g. moving overseas), and support them regardless of performance in their current role.

As a business owner, if you want to mentor someone, then I would suggest looking at external opportunities. If you want mentoring to take place within your organization, then I’d suggest you could hire an external business mentor or ask your senior staff if they are interested in mentoring some of your junior employees. If you hire an external business mentor, they could also mentor your senior staff.

There is no doubt that mentoring offers huge rewards to everyone involved, but as a business owner you need to be clear when and where you should be mentoring because you could be setting yourself up for blurred lines that impact communication, discipline and ultimately loss of respect.

As a business owner, have you mentored your employees? How did this help or hinder your business? I look forward to a lively discussion!