Staying Organized in Business

“Disorganization is the anathema of an efficient, professional employee”  That said, even the most prepared workers hit snags in their preparedness and oftentimes find themselves and their desks in disarray.  As we all know, any successful business in well organized.  Chaos in a business can be deadly to your bottom line and the goals you are trying to achieve.  This can result in lost sales and lower productivity.  It is important to analyze how the flow of work progresses through your business.  In staying organized, it’s important to define the areas of disorganization that cause problems and work towards solving them.  Prioritize activities that need action.  As your business grows, the need to stay organized multiplies.  So how can you stay organized in business?

Keep a calendar of deadlines.  Choose the right planner that fits your style – be it an Excel spreadsheet, an Outlook calendar or even a notebook.  Make sure to keep solid track of your meetings and appointments.  Set reminders in your calendar so that you will be notified ahead of time and can be adequately prepared.

Set realistic timeframes for tasks.  A schedule may be thrown into disarray if you have an inaccurate estimate of your workflow.  Ensure that you allocate enough time for each task so that you avoid putting them off or skipping them.  Give yourself plenty of time to achieve your tasks.  In fact, you might want to overestimate the time it takes to complete them.

Plan your day ahead of time.  Always be thinking about the week as a whole and how you plan to get things accomplished.  At the end of every work day before you leave the office, make notes about how you plan to tackle the next day’s tasks.  Look thoroughly at your calendar to ensure you are ready to complete projects due that week.  Write notes regarding anything you might need to do in preparation of said tasks.  

Keep your tasks in a visible location.  Think of creating a folder system to organize tasks that are color coded based on high and low priority.  If you see these tasks staring you in the eye, you’ll be less likely to forget them.  Keep physical inventory of all your tasks.  Think of hanging a dry erase board on your wall where you can write down tasks that will be staring you in the eye all day long.  Think of putting post-its on your computer so you will notice them at all times.  Mark off those tasks that have been completed and highlight those that haven’t been.

Schedule weekly meeting with your staff so that you have an idea of the tasks the rest of the office is set to complete.  At these meetings, talk in detailed description about expectations and deadlines.  Open communication with employees is the best way to ensure tasks are met in a timely fashion. 

Establish procedures for every aspect of your business.  Create an employee handbook so that your co-workers know what is expected of them on a daily basis.  Write down pertinent duties that must be completed by each of your employees and of course, yourself as well.  

Develop daily habits such as reading the mail, publications, news and responding to emails and phone calls.  Always be creating “to-do” lists.

Organize your emails into folders based on assignments or projects.  Use a star or flag to highlight important messages that need a quick response or to remind you to do them later.  Delete unwanted emails and keep your inbox clean.

Invest in software that allows you to share parts of your screens or calendars with other employees.  Sharing staff emails, customer information and other items will help ease workflow.  Use accounting software to manage your business finances.  Make sure everyone in your company is up-to-date on these programs and has knowledge of how to use them so that virtual files can be updated by anyone at your company on a regular basis.

Get rid of unnecessary clutter from desks, offices and work spaces.  Items that are seldom used should be stored away in cabinets or shredded.

Always make sure the office is stocked with necessary supplies such as ink, paper, pens, notebooks, post-its, stamps and anything else you need to make your business run smoothly.

Plan for disasters and other problems.  We recently saw how many NYC businesses were negatively impacted by Hurricane Sandy because they did not have sufficient contingency plans in place.  Besides natural disasters, other problems may arise such as electrical outages, the internet going down, sick employees, damaged equipment or merchandise.  “Brainstorm difficult situations and write down solutions to those problems.  Then make sure to follow the procedures that you [have] developed.”

Lastly and possibly most importantly, dedicate certain days to certain tasks such as weekly meetings.  For example, think of shutting your door every Wednesday at lunchtime to look at and prepare for the rest of the week and the week ahead.  If you stay ahead of the game, you are more likely to find you run an organized and efficient office.

Here are some articles you might want to check out about staying organized in business:

“Staying Organized at Work”: http://www.simplifythis.com/blog/small-business/staying-organized-at-work/

“My Favorite Tool for Staying Organized”: http://www.inc.com/magazine/20110301/my-favorite-tool-for-staying-organized.html

“Tips on How to Stay Organized in the Workplace”: http://www.selfgrowth.com/articles/Tips_on_How_to_Stay_Organized_in_the_Workplace.html

“Top Tips for Staying Organized and Productive at Work”: http://www.theglobeandmail.com/report-on-business/small-business/sb-managing/human-resources/top-tips-for-staying-organized-and-productive-at-work/article554860/

Until next time…

Top Leadership Traits to Possess in Business

“Leadership can be defined as one’s ability to get others to willingly follow.”  Every business needs a leader, especially start-ups.  Some leadership must be nurtured while others have it inherently.  Strong leaders have a clear vision of where they want to take their companies.  They also have a firm grasp on what success looks like and most importantly, how to achieve it.  That said, leaders can’t just sit upon their vision; they have to act upon it.  “Good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion.”  A powerful leader must also possess strong communications skills so that they can get others to follow or believe in their vision.  Commanding leaders are also passionate about their visions.  They have to be disciplined in order to work towards their goals.  Action is the mark of a good leader.  Potent leaders are inspiring and drive others to help pursue their vision.  So what are some character traits of good business leaders?

Integrity.  Holding fast to your core values make the mark of a good leader.  Trust is key to strong leadership.  Gaining the trust of your employees, clients and customers is crucial to any new start-up.  Superior leaders are honest and control their emotions well.  They don’t throw tantrums or have gigantic outbursts.  They hold tight to their morals and ethics.

Dedication.  Strong leaders spend time and energy where necessary to accomplish the task at hand.  In turn, this leads to inspiring dedication in others.  Lead by example.  A leader can show their employees that they are not just corporate drones but rather valued people who are being given the task to achieve something great.

Magnanimity.  This means giving credit where credit is due.  “A magnanimous leader ensures that credit for successes is spread as widely as possible throughout [their] company.”  A good leader will also take personal responsibilities for a company’s failures to live up to or exceed expectations; they won’t blame others.  Acting this way allows leaders to give their employees a sense of accomplishment and makes them feel good about their efforts.  It also helps draw the team closer together.  “To spread the fame and take the blame is a hallmark of effective leadership.”

Humility.  Strong leaders recognize that they are no better than those that might rank below them on the corporate ladder.  A humble leader is able to elevate those around them to greatness.

Openness.  When leaders listen to new ideas even if they are out of the realm of their thinking or their comfort zone, they are showing their employees that they are valued.  “Good leaders are able to suspend judgment while listening to others’ ideas, as well as accept new ways of doing things that someone else thought of.”  Openness builds mutual respect and trust between leaders and followers.

Creativity.  Strong leaders are able to think “out of the box” that often constrain solutions.  When leaders thinks creatively, it gives them a chance to see things others before them have not and can lead on to bold new ideas and innovative ways of thinking.

Fairness.  Strong leaders deal with others fairly and consistently.  “A leader must check all the facts and hear everyone out before passing judgment.”  Authoritative leaders avoid leaping to conclusions.  Commanding leaders always look at the big picture and take all evidence into account.  Employees are more likely to be loyal and dedicated to leaders when they feel they are being treated fairly.

Assertiveness.  A strong leader should not waiver from his/her convictions.  While leaders should always hear others out, they need to remember to go with their gut and not lose sight of their intended vision.  Powerful leaders are able to clearly state their intentions and expectations so no misunderstandings occur.  If a leader is assertive, he/she is likely to get desired results.

Maintain a sense of humor.  Humor is vital to relieving tension and boredom among employees.  “Effective leaders know how to use humor to energize followers.”  Good humor fosters camaraderie and passion among employees.

Visionary.  Strong leaders hold tight to their visions of where they want their companies to go and what they expect of employees.  A leader without vision is merely a manager; they are not inspiring.  If a leader creates a positive vision of the future, they can expect their employees, clients and customers to buy into that vision.

Competency.  Leaders know the ins and outs of their businesses at the core.  They understand the market they are targeting along with the expectations of their clients and customers.  Strong leaders “know”; they don’t “guess.”

Articulate.  Strong leaders know how to get their message across clearly and concisely.  This helps to inspire employees and allows customers and clients to understand what they are getting.

Perceptive.  Powerful leaders are always in tune with the details and little things.  Stringing these things together creates strategy and strategic thinking.  To be a strong leader you have to pay attention so that things don’t fall through the cracks which can negatively impact your bottom line.

Lastly and maybe most importantly, strong leaders are passionate; passionate about their companies, their visions, their successes, their employees, their ideas and their strategies to achieving their goals.

Here are some articles you might want to check out about strong leadership traits in business:

“Leadership Traits: 10 Attributes and Qualities of a Good Business Leader”: 

http://www.strategicbusinessteam.com/entrepreneurial-skills-development/leadership-traits-10-attributes-and-qualities-of-a-good-business-leader/

“Leading Your Company”: http://www.sba.gov/content/being-leader

“Three Leadership Traits That Never Go Out of Style”: http://blogs.hbr.org/hbr/nayar/2012/08/three-leadership-traits-that-n.html

“Characteristics of a Business Leader”: http://www.business.qld.gov.au/business/employing/staff-development/developing-leadership-skills/characteristics-business-leader

Until next time…

Mistakes Entrepreneurs Make in Business

Becoming an entrepreneur is a scary proposition; a daunting task to most.  Even if you’ve got a great idea, prepared a business plan, secured financing and are ready to launch your new venture, there are often missteps that will be made along the way.  Here are some of the biggest mistakes people make when starting a new business.

Sticking with one idea for too long.  While a single idea can be your catalyst for entering the market, you shouldn’t be afraid to build upon it and explore new options.  An entrepreneur should always be thinking about growth.  While you don’t want to get ahead of yourself, you should think about where the market is headed at every turn.  Stay open-minded and explore new ideas.  Put them out into the marketplace and see if they stick.

Being product-driven not customer-driven.  Every entrepreneur must remember that “in the world of capitalism, the customer is king.”  Even if your product is better, stronger and smarter than anything else out there, your customers won’t buy it if they don’t want it.  Make your customers a priority.  Ask them what they want.  Do your research.  Understanding your customers’ needs should be your first priority.

Spending money before you make it.  You need to have a well thought out financial plan in place.  Even if your idea is great, you need to be prepared that it might take a while to launch and become successful.  It might not be the best idea to bring on additional employees at the start of a new venture as you have to ask yourself how you’ll pay them.  Bottom line: don’t get ahead of yourself financially.

Not having a clear focus.  You should always and I mean always have a business plan in place before you launch into the world of entrepreneurship.  You should set both short and long-term goals for your business.  This allows you to keep yourself if check and check your progress along the way.  “Without a clear vision of where your company is heading, your great idea can get muddled along the way”

Relying too much on a single consumer base.  Having one large customer in the beginning might be a great way to get your business off the ground and up and running but don’t rest on your laurels.  Always have a plan as to how you can acquire new customers and broaden your reach in the marketplace.  Let’s say you have a customer that generates a substantial amount of revenue for your business but then they themselves go out of business, where will that leave you?  While targeting a specific audience or demographic is a great recipe for success, you need to market your product as inclusive to all and not exclusive to some.

Not doing your market research.  Oftentimes, entrepreneurs overestimate the size of their potential market which throws off the size of their potential bottom line.  Be careful about defining your market segment too broadly and make sure to do your research on the competition that will also be vying for your customer’s attention.  Think about what your customers incentive might be to buy from you instead of someone else they may have been buying from for a long time prior to your launch.  Is there enough demand in the market to support the introduction of your product regardless of how new and innovative it may be?

Lack of experience.  Not knowing the industry you’re entering into enough could be your downfall and lead to costly mistakes.  Before launching your start-up, try to gain experience in that market prior.  Use your past experiences to create your future ones.  Reach out to mentors or ex-coworkers for brainstorming ideas.  And of course, always be networking.

You’re getting in for the wrong reasons.  Being fired from a job doesn’t necessarily mean you always have to go out and start up on your own.  While often this is a catalyst for some entrepreneurs, it might not always be the logical next step.  Take some time to honestly assess your strengths and weaknesses before sinking your time, effort and money into your own venture.  However, if this is something you’ve put a lot of thought into, wanted to do for a long time and have done your homework, then go for it!

You think you can do everything yourself.  That tends not to be the case most of the time.  As I mentioned above, don’t hesitate to reach out to your network for business advice and emotional support.  There will come a time when you’ll need to bring on employees if your venture is taking off.  Remember, asking for help isn’t always necessarily a bad thing.

Lastly and probably the biggest mistakes entrepreneurs make is having unreasonably high expectations for immediate success.  It often takes time, countless hours and lots of effort to come up with a great idea, launch your product and build a brand.  Don’t forget that.  Jumping in head first might work for some but it’s not ideal.  As cliché as it may sound, it’s best to remember that oftentimes slow and steady wins the race.

Here are some articles you might want to check out regarding the mistake entrepreneurs often make in business:

“Stupid Mistakes Entrepreneurs Make in Business”: http://wetalktoday.com/entrepreneurs/stupid-mistakes-entrepreneurs-make-in-business

“12 Mistakes Entrepreneurs Make”: http://www.askmen.com/money/career_100/137_career.html

“4 Mistakes Young Entrepreneurs Make That Waste Time and Money”: http://www.businessinsider.com/mistakes-that-young-entrepreneurs-make-2012-10

“Avoiding Common Mistakes Entrepreneurs Make”: http://www.bizjournals.com/triangle/blog/2012/03/avoiding-common-mistakes-entrepreneurs.html

Until next time…

Making your best pitch in business

To make a success of your business, you need to be able to sell your idea to potential clients and customers alike.  That’s why making a great pitch to them is one of the key skills you’ll need to develop in order to be successful.  Once you’ve developed and written your business plan, it’s time to start presenting it to the world; to investors, to clients, to customers.  Their money is the desired result of your pitch.  Regardless of how you make your pitch, many new start-ups often fall prey to the mistakes one can make in doing so.  So how to avoid those pitfalls and make a successful pitch?

First off, build a relationship.  When people buy your product, they are making an investment of their time and money in you.  You have to let your clients and customers know that it’s not just their money you care about but that you also care about them and how your product can in fact help them and better their lives, whether it’s making things easier or cheaper for them or providing something completely new to them that revolutionizes the way they work or purchase.  No one wants to enter into a business transaction with someone they don’t trust so let your customers and clients know that you have an interest in their lives beyond their wallets and check books.

Believe in your product.  Showing your potential customers and clients that you’re enthusiastic about what you’re selling can go a long way to gaining their business and trust.  If you show them why your product is indeed the best out there and reassure them that you will make a successful go of your product, they’re more likely to believe in you.

If you’re making an in-person pitch, make sure to look your best.  Don’t come sloppily dressed.  Your professional appearance is a reflection of your professional attitude.  You have to represent your brand by looking your best.  This makes an immediate good impression on clients and customers.  If you don’t seem to them to take care of yourself, how will they trust you to take care of them?

Don’t just sell your product; sell your image and your vision of what your product can add to the lives of your clients and customers.  “Beer companies don’t sell an alcoholic product but a beverage that leads to fun, social activities.”  The item you’re selling has to go beyond the pitch you’re pushing.

Learn to overcome the initial “no” you might hear or any other deterrent to your pitch.  This is a natural part of selling that shouldn’t be taken personally.  Find out why your client or customer is indeed telling you no and explain how your product overcomes their worries.  Make it a non-issue.

Know your client/customer and their goals.  Take the time to do a little research on them.  Whether it’s perusing their website or looking up their profiles on LinkedIn, a little extra effort goes a long way.  More specifically, know what they’re looking to achieve or gain from your product.

Keep your pitch short, clear and concise.  You don’t always need an in-person meeting.  Sometimes you can just send along a business proposal.  Make it easy for clients and customers to read your pitch.  In essence, get to the point and quickly.

Provide a link to your work.  The best way to do this is to make a brief mention of one or two past successes and provide a link for them to read more.  A website with a portfolio, or a link to your best published work, are great for this.

Lastly and most importantly, follow-up.  If you don’t hear back in a few days, send a short email.  This might help you earn their respect as they know you are working hard to earn their business.  

Here are some articles you might want to check out on making your best pitch in business:

“How to Write a Business Pitch”: http://www.scribendi.com/advice/how_to_write_a_business_pitch.en.html

“How to Make a Business Pitch”: http://smallbusiness.chron.com/make-business-pitch-22133.html

“New Business Pitching to Win”: http://www.impactfactory.com/gate/new_business_pitching_skills_training_development/freegate_1014-1103-19291.html

“Making Your Best Pitch”: http://boss.blogs.nytimes.com/2012/10/31/making-your-best-pitch/

Until next time…