Hiring Decisions: What To Do If You’ve Hired the Wrong Person

k-158-pom-2068As a small business owner, it’s so important to find the right people for your team. I have spoken with small business owners who are thrilled to see their employees go above and beyond to improve the business. They say they never knew that an employee was so dedicated, or that someone exceeded even their highest expectations. But sometimes, and more often than you’d expect, businesses hire the wrong person and end up suffering certain consequences, which include:

  • Lost time and lost productivity – We’ve all heard the phrase “time is money,” and hiring the wrong person will cost a business both in training time, and in restarting the hiring process again once they’re gone.
  • An unhappy team and workplace – A difficult employee can put pressure on the rest of the team, who must pick up his or her slack, and deal with extra work and stress that they might find unfair.

So, how do we go about dealing with a bad hire? I always try to keep some important questions in mind:

  • Is the employee in the right role? In some cases, the person just isn’t a good fit for their role, but they may still be a good fit within the business. Consider speaking with the employee and changing their role, as that may lead to a happier and more productive employee and team.
  • Are problems arising from simple mistakes, or cutting corners? Mistakes are part of the learning curve, especially for new employees. It’s possible that the employee has made correctable errors, rather than demonstrate a character flaw.
  • Does the employee fit with the company culture? In the end, if the employee is not a good fit within the workplace, it’s best to let them go. Cut your losses early with a bad hire, so that you can save your time and money on finding a better fit, and a more productive employee.

Now that you’ve dealt with a troublesome hire, how do you go about finding the right person? Here are some tips you may want to consider when reviewing possible candidates:

  • Do your research. It’s a given that you do your research on each candidate beforehand, but take a closer look at their resume, LinkedIn profile, and references. Note any gaps in employment or any ambiguous points on their resume, and check their online presence on websites like Facebook and Twitter.
  • Go beyond the obvious. Ask the candidate questions that go beyond their resume and cover letter. Their answers may reveal more about their personality, and the rapport you build with them may show if they’re a good fit within your company culture.

As a small business owner, hiring is one of the many tasks you have to dedicate time to, and though it may be tiring, finding the right team members will be best for your business in the long run. If you’d like to learn more from other small business owners on hiring, and many other strategies, contact me today!

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Ready to Unleash Your Inner Entrepreneur?

k-63-dsc5156355559-paint_1There comes a point in an executive’s career where most, if not all professional milestones have been achieved. It’s a point where I have found many executives start to become restless, looking for the next challenge. If you don’t share the same excitement your colleague’s have about their retirement plans and you are thinking about how you’ve always dreamed of being your own boss, then I’d like to share with you a great opportunity to unleash your entrepreneurial spirit!

As a franchise owner for The Alternative Board (TAB), you not only have the freedom to make you own decisions, have low overhead costs, and determine your own hours, but you will have the backing of an international franchise and be making an impact on small businesses and their owners.

As a TAB franchisee, you will:

  • Build and manage an advisory board of up to 10 non-competing businesses
  • Coach business owners to improve their leadership skills and help their business grow
  • Facilitate group meetings and discussions to propose constructive, powerful solutions to business problems
  • Guide and grow your business with autonomy, and with the backing and support of an international franchise

This opportunity is perfect for:

  • Executives with an entrepreneurial spirit, who have an abundance of experience in the corporate world
  • Business leaders who look to tackle a new challenge for the next 10-15 years
  • Those who would enjoy helping passionate business owners innovate and grow their businesses

Becoming a TAB franchisee allows you to be your own boss, make your own decisions, and help small businesses succeed. It’s the perfect opportunity for someone who wants to make a big difference in the lives of many small business owners and their ventures. If you’d like to learn more about being a TAB franchisee, contact me today!


Business Growth: How to Build Business Relationships After a Networking Event

rawpixel-com-267082In previous blogs, I’ve discussed how to effectively attend networking events. You’re now quite adept at working the room and making the most of your opportunities. And, some of the connections you’ve made have the potential to develop into valuable business relationships. However, attending the event is only the beginning. Whether or not you’re able to build successful business relationships after attending a networking event depends on how well you follow-up.

Business owners often share with me that their networking event was not successful because they didn’t get any ‘real’ leads, but the truth is, that leads are not built in a day and this is why follow up after attending a networking event is so critical. In order to build business relationships after a networking event, you’ll need to follow up. I’ve outlined below seven tips I believe will help to increase your success at the networking events:

  1. Review and prioritize the connections you made: Review your notes and the business cards that you collected. Google the people you met and interacted with. Make a list of the ones that you believe could be a potential client, strategic partner, vendor or referral source and prioritize in order of importance.
  2. Send an email within 48 hours: Send a quick “nice to meet you email”, and personalize it by mentioning some of the things you discussed at the event. Suggest a face-to-face meeting for coffee or lunch and include a few date/time options.
  3. Connect on LinkedIn and other social media networks: This will help you build your online connections and a potential referral network. Connecting on social media also ensures that you and your connections will always be able to contact each other.
  4. Pick up the telephone and make a call: We’re so used to email, social media and text, that making a phone call has become a novel idea. Pick up the phone, have a chat and suggest a time to get together.
  5. Deliver on any promises that you made: In the course of discussion, did you promise to send your new contact some information he/she was looking for? Deliver on your promises as quickly as possible.
  6. Introduce people to each other: Add value. You may have met someone who you believe would be a great connection for someone else that you know. Make the connection. They’ll both thank you for it.
  7. Create a monthly follow-up plan: Building relationships takes time. A monthly follow-up plan will help you cultivate your contacts and build successful business relationships after attending a networking event. It’s also a great reminder.

 

Are you following up after attending networking events? Want more advice on building successful business relationships after attending a networking event, or general advice from other business owners like you? Find out if a TAB Board is right for you!


Managing Change: Reactive versus Proactive Business Strategy

startup-849805_640.jpgIf there is one thing I can guarantee any business owner, it is that your business will experience change. Sometimes workplace change can occur very quickly and in today’s marketplace, it can occur quite often. Although change can be difficult and presents new and interesting challenges, it isn’t necessarily negative. Change may take place in order to respond to a new opportunity. As I tell my clients, the key is having the right strategy in place to manage change, which can often be the difference between success and failure. When managing change, there are two main business strategies – reactive and proactive.

Reactive business strategies respond to an unanticipated event after the fact. A reactive approach to business is all too common. Unfortunately, this approach may lead to lost new and emerging opportunities, or losing out to a more aggressive competitor who bursts onto the scene. Being reactive is inefficient and extremely stressful. It doesn’t allow you to plan because you’re too busy reacting. A typical example of a reactive strategy is to wait for business to decline before investing in marketing and promotion. Reactive companies tend to fail in the long run. Look at what happened to companies like Nokia and Blockbuster.

Proactive business strategies anticipate the events, plan for them and take action. They are ready to capitalize on new and emerging opportunities or respond to new competitors. Research is very important to a proactive business strategy. You have to analyze the market thoroughly, pay attention to the trends and adapt to them before your competitors do. The reality is that no business can be proactive all the time, however if you focus on a proactive strategy, you will be more effective at dealing with challenges and as a result, more successful. A typical example of a proactive strategy is to invest in marketing and promotion to gain a greater market share in anticipation of increased competition, instead of waiting for business to decline first as in a reactive business strategy. Apple and Amazon are perfect examples of proactive companies.

Creating a proactive business culture is hard work but it pays off. It starts with a change in mindset. You need to be ahead of the curve. Instead of racing around putting out fires, anticipate and plan for success! Here are some tips to help create a proactive business culture:

  • Schedule time to plan
  • Clearly define expectations and goals
  • Refine and improve business processes
  • Research your industry
  • Pay attention to trends
  • Stay on top of the business climate
  • Know your competitors
  • Identify risks
  • Search for and find problems before they happen

There is no doubt that adopting a proactive business strategy is the ideal approach to help you shape the results of change. However, sometimes changes come so quickly that we do need to react and therefore a reactive strategy needs to be applied. If you’d like more advice on how to create the right proactive or reactive business strategy, or are looking for other business advice, check out how TAB can help!


You’ve Built A Wealth Of Business Expertise – Now What?

office-1209640_1920Many senior executives want to share the lessons they’ve learned from their 20+ years of experience at several large corporations, but with the changing landscape of corporate culture, these execs are being ‘pushed’ out or looking for new opportunities.

I’ve spoken to countless senior executives that have climbed the proverbial corporate ladder, and have been dedicated to progressively building their careers at a huge multinational for years, even decades. However, they are finding that the face of the company is changing and a younger group of individuals now reflect the corporate culture. Some are facing the possibility of being phased out, or are looking for ideas and direction for what may become the next chapter of their career.

There is little doubt that today’s rapidly changing, globally competitive environment often requires a shift in mindset and competencies, and a growing number of senior executives in their 50s are evaluating their value and long-term growth plans. These professionals were hired by large multinationals when in their 20s and have enjoyed travelling the world, solving business issues, creating new processes and plans, organizing teams, going to tradeshows and conferences, and engaging in high-stake meetings with their colleagues in Asia. Where do they go from here?

When you have fully invested in your career and have a wealth of knowledge, the question is how can you share your wisdom and help others reach their goals?

If you are interested in learning about an opportunity to leverage your business expertise and provide guidance to business owners while giving you the freedom to work at your own pace, build equity, meet local business owners and become part of your business community, check out this website or simply contact me to discuss your situation.


Put an End to the Feast and Famine of Owning Your Own Business

OLYMPUS DIGITAL CAMERAI’ve seen it time and time again, business owners, whether they own an accounting, engineering firm, marketing agency or IT company, are left feeling vulnerable due to the feast and famine of income streams.

When I meet with business owners they share with me their concerns about their struggle for consistent revenues; one month the financials look great, but next month, they are not on target and they begin to stress about making enough income to cover their expenses. Sometimes this cycle is endless and it can take a toll on the many business owners striving for income predictability and growth.

When a business experiences the feast or famine scenario, things like hiring staff for a project today in hopes that there is work for them tomorrow can result in more stress and pressure on the owner to bring in more business.

Owning a business can be one of the most rewarding experiences, but so often business owners are conflicted with decisions about hiring the right staff, committing to paying rent for the appropriate space, investing in office equipment and technology, not to mention marketing. Without consistent and predictable revenue it is hard to make long term plans that will allow owners of professional services businesses to accomplish their goals.

If you are interested in learning about a professional business that will put an end to this feast or famine scenario but still give you the freedom to own a business, check out this website or simply contact me to discuss your situation.


Employee Relations: Social Media In and Out of the Workplace

28011015990_8ff191ee0f_bEven though I know some small business owners still have not embraced social media in their business, but in 2017, there is no denying that social media is now pervasive in our culture. When used wisely in the workplace social media is a powerful tool that can connect individuals, increase productivity, enhance sales and marketing efforts and create brand champions. However, social media also has a dark side. Inappropriate social media used by employees can cause serious damage your company’s reputation, leak sensitive information and/or leave you libel for cyber bullying or harassment. With social media use at an all time high and still growing exponentially, it’s more important than ever for every business to have a clearly defined social media policy.

How many Canadians are using social media?

  • 73% of millennials use social media daily (Statistics Canada)
  • More than 14 million Canadians check Facebook every day (Miller Thomson)
  • More than 400 million tweets are sent daily (Miller Thomson)
  • LinkedIn has over 8 million Canadian users (Miller Thomson)

What is a social media policy? A social media policy is a code of conduct that establishes clear guidelines and expectations for your employees. It clearly defines which social media sites employees may access and what is and is not appropriate for employees to post about their company on these sites. Typically they include restrictions on disclosing confidential information, trade secrets, financial information and/or potentially offensive material. A social media policy will also clearly state the consequences for breaking the rules.

Why is a social media policy so important? There used to be a clear distinction between your private life and your work life, but social media has blurred all that. People post on social media anytime and from anywhere, often without too much forethought. Millennials, also referred to as the social generation, are notorious for sharing everything, including the minutiae of their lives, without a filter for what is private or work related. “Any company, big or small, needs a social media policy to protect their reputations,” says Aliah Wright, author of A Necessary Evil: Managing Employee Activity on Facebook, Twitter, LinkedIn…and the Hundreds of Other Social Media Sites. “Even if their company has no social media presence, their employees may be creating one by virtue of their actions online.”

7 tips for creating an effective social media policy:

  1. State the purpose/objective of the policy
  2. Clearly define what constitutes social media. Is it social media sites like Facebook, Twitter and LinkedIn? Does it include blogs? Online forums? Videos?
  3. Decide who is responsible for managing and participating in social media – everyone involved in your company’s social media should know who is responsible for the different tasks
  4. Establish guidelines for overall conduct and be clear about what is considered unacceptable behaviour – releasing confidential or proprietary information, offensive language, cyber bulling, airing grievances online…
  5. State the consequences for breaching the policy? Disciplinary action? Termination?
  6. Make sure that your employees understand the social media policy and provide training sessions if necessary.
  7. Monitor social media usage to ensure that the policy is being followed

Does your company have a social media policy in place? Want more advice on social media policies, or general advice from other business owners like you? Find out if a TAB Board is right for you!