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When does it make “Cents” to hire for your business?

When does it make “Cents” to hire for your business?

When first starting out, many business owners struggle with investing in hiring help. They know it’s a must to invest in a logo, stock inventory, build out the physical space, hire an accountant and a legal advisor, arrange and pay for all of the tangible things. Yet, when it comes time to hire employees, they pump the brakes, hard and fast… SCREECH!!!! 

Why is this?

I believe it’s a mindset, a mentality. The belief that “I can’t afford this right now.” Or, “I’m the business owner, I’m supposed to be doing this.” Or, worse yet, “I’m going to save money and do it myself.” 

It’s hard to see, but those thoughts are the result of your mind playing tricks on you. The reverse is actually true.

What happens is that when you are slow to hire, you are slow to grow. You start trading time for dollars. You become what Michael E. Gerber, author of the E-Myth, calls the technician of our business. You soon find yourself in the same situation I was at one time when my coach (lovingly) told me, “You bought yourself a job.”

Now I do realize we have to be mindful of your cash flow and finances. I am not suggesting you go out and hire a variety of employees/contract workers so you don’t have to do the work.  What I am suggesting is you determine when it is right, when it does make “cents” to prioritize and plan for investing in hiring. 

Start to really look at what you are doing in your day to day business.  Then ask yourself, “What would I do with the time I free up by hiring?”

For example, my coaching business is mainly online and this is a new space for me. There are a lot of moving pieces in the back end such as email campaigns, blogging, updating my website, creating social media graphics, managing lead magnets, all the pieces of digital marketing.  Can I do these things myself?  Yes.  Am I as good at it as the folks that I have hired to support me in these areas, No.  

Just recently I increased my investment in the contractors who are assisting me by taking care of all of these things. I will be honest and transparent in sharing that I hesitated, I struggled with making that decision because it meant spending more money. I felt a little guilty about it. 

Then I decided to look at it from a time management and dollars and cents lense. The key question I asked myself is the same question I suggested you ask yourself, “What am I going to do with the time that I am freeing up?” What I realized by doing that exercise is that I am willing to make that extra investment and commit to myself that I will use the extra time to network, make sales calls, create more content that will lead me to new clients. These are the activities that will allow me to serve more clients which will more than pay for the extra contractor fees I will incur.  

And, that to me seems like a good return on my investment and a strategic way to grow my business.

I encourage you to look at your day-to-day operations as the business owner.  Are you thinking like an employee or are you operating like a CEO? 

I created a Hiring Guide to assist you with this process and walk you through the steps to making decisions that will help you grow your business. Access the Hiring Guide through THIS LINK

Why do you need to learn to delegate?

Why do you need to learn to delegate?

Are you a small business owner who wants to grow their company? If so, you have to learn how to delegate. It’s the only way your business will survive and thrive.

But, it can be hard when you’re used to doing everything yourself and maybe uncertain what to unload or how to start.  And, because you already wear so many hats, the idea of delegating can be overwhelming. I know because I have been there myself.

And, I also know that it doesn’t have to be this way. In fact, delegating is one of the top traits of successful leaders and small business owners. In my recent video (below), I identify the most common blocks that come up for most small business owners when they attempt to delegate and I share my 5 step approach to discover the best way for you to start delegating now.

When you watch this 6 minute video, you will:

  • Understand why delegating is crucial for your success as a leader and entrepreneur.
  • Learn what holds people back from delegating effectively.
  • Hear my strategies for overcoming these common challenges.
  • Find out the best way for YOU to start delegating.

Are you ready to finally get unstuck, relieve burnout, stop being the doer of all things and start growing your success? Delegation is one big step to making it happen!

Schedule a call with me and get more secrets to help you learn to delegate better as a business owner.

How to retain employees in today’s climate

1 out 4 employees are preparing to switch jobs – Forbes. This is a startling statistic especially because we are already living in an employee shortage world. For the next four weeks I am going to deep dive into “How to Retain employees” and it starts with Vision Leadership.

What is Vision Leadership?
Where leaders are Rooted in the past. Address the Future. Deal with today’s Realities

Did you know that 96% of today’s employees are craving transparency?

Employees want to know what is going on, where you are going and more than just a to do list or project list they want to know the WHY. Why needs to be a part of your company strategy, why is this important or not important for us to do. It is Big Picture leadership and by doing so builds trust, loyalty and therefore retention.

In this 4 part series I am going to share steps that you can implement in your business to create Vision Leadership. Having Vision Leadership policy and procedures in your small business can help employees feel part of the solution, part of the program, provide freedom so you don’t have to micromanage and the end result.

Happier employees result in less turnover, better customer service, improved production and affect your bottom line in a positive way. Learn more about how to retain employees by watching the video below!

Need help with attracting or retaining employees? 

Book a complimentary Discovery Call to discuss your business needs 

Creative solutions for to attract employees for your small business

When was the last time you could say that your business was fully staffed with the right employees? The biggest challenge facing many businesses today has been to attract employees.

This requires some creative solutions such as:

1. Before you hire, define your business culture

Employees want to feel like they’re part of a team and culture is listed as one of the top attraction points for employees so if you want to find great people, you need to define yours.

Culture is the personality of your business, the foundation, what matters to you, and what you represent. Your beliefs, values, behaviors – it’s the influence between company and employee and company and customer.

Knowing your culture and sharing it transparently in the hiring process is important because it will help you not only attract employees, but  improve service to your customers.

2. Hire for soft skills, not just hard skills

Hard skills are the specific knowledge and abilities required for success in a job, such as technology, web development, software specific skills. Soft skills are non-technical skills that impact your performance in the workplace such as being a team player, communication skills, and adaptability – and even though we tend to overlook them, they are the key to attracting the right employees.

As you look to attract the right employee, combine which soft skills fit your culture along with which hard skills are required to perform well in your company. For instance: if nurturing represents your culture then soft skills would be a person’s willingness to train others or volunteer. You might look for volunteer positions on their resume such as coaching.

Of the hard skills you need for the position, which ones are non-negotiable and which skills are you willing to teach? You might have to offer this as a solution to find candidates, being willing to teach new skills just might be a great attraction tool.

3. Create a modern job post

Old-style job postings were a list of hard skills and just stated what the EMPLOYER WANTS from their employees. In today’s world, if you want to attract great employees, you need to write a job post that caters to the applicant.

To do that, you need to be more creative and create a job post that says what the applicant wants to hear. Paint a story that will attract the right candidate for your business by sharing the culture, the experience, or the day in the life that speaks to the soft skills and interests of the applicant, not just the list of qualifications you need.

4. Where to search for employees

There are many online job search websites, I suggest googling them and learning their key audience and industry they cater to. In addition, I recommend you get more personal and creative and find other places to share your openings like friends and family and social media. 79% and more are using social media to find jobs so it pays to think about the platforms your ideal candidates are hanging out on and share the information there.

For example, if you are hiring high school or college-age help have you thought of creating a Tik Tok such as the day in the life of the job?

Utilize Groups such as Facebook Groups, networking groups, Chamber of Commerce, etc. For example, if you own a restaurant get active on foodie groups, if you own a dog business how about local dog walking groups, etc. Go where your clients hang out, you will find your employees do too.

Utilize your personal social media. I know this can get tricky attracting friends and family that you might not want to employ, but you also just might attract the right person.

I know that finding employees can feel daunting in today’s post pandemic climate and you may feel like you have tried everything. These creative solutions can help you discover new ways to attract the right talent for your business so you can attract higher quality candidates, become fully staffed and improve service to your customers. Contact me today for additional help and resources!

Sidebar Have you thought about hiring the Side Gig Employee?

Technology and social media have fueled the side gig phenomenon. What we learned from 2020 is that Americans want to diversify their income. Side Hustles or Side Gigs account for up to 50% of working Americans. Side hustle is when an applicant takes a second job, this is not their primary source of income. The average side hustler earns $200 – $1000 a month. Filling an open position with a few “Side Gig Employees’ might offer a great solution for you to fill a job vacancy and offer flexibility for the employee.

Thank you to GRBJ for featuring me as a Guest Columnist.  Full article can be found at The Grand Rapids Business Journal. 

 

A day in the life of an entrepreneur

When you research daily habits among successful entrepreneurs you will start to see a pattern emerge.
Most will say their day will include being an early riser, exercise, mind set work whether that is prayer or meditation, time block, coffee ha ha, learning new skills, setting a routine and always strive to create a work/life balance.
To help me prepare for the challenges and to achieve my goals as an entrepreneur my day in the life (most days) looks like:
⌚rise early and drink a glass of water. This is key to revving up your energy since your body naturally wakes up dehydrated.
🙏prayer time, devotional time and journaling. I set 3 priorities/goals for the day for my business.
🏋️‍♀️exercise and since I need accountability I joined a small group personal training gym
☕️coffee and breakfast! Love me a cup of coffee
🖥 work time! Setting up blocks of time in my day keeps me on track and makes me do the tasks I don’t always want to do
💡always be learning! If I ask my clients to skill up I need to do the same. I listen to podcasts, webinars or read. I try for 30 minutes a day of learning something new
🌳stress relief – I love the outdoors and walking my dogs is a great way to unwind and breathe again after a day filled with multi-tasking so I can be fully present for my family after work.
What does your Day in the Life look like? How do you prepare for all that being an entrepreneur throws at you? What daily habits have you taken as an entrepreneur? Tell me your story! 
Interested in learning what 9 Successful entrepreneurs do to rev up their day?

4 tips to outperform your competition

I often hear from clients, “I am not sure how to compete with Amazon and the Big Box Stores”

I believe there are plenty of customers for everyone. You can and will attract those that are supposed to purchase from you but what should you do?

Does your competitive nature sometimes get the best of you?  Understandable we are competitive people by nature, and competition can be a positive behavior, it motivates you to succeed.  However, putting all that energy into your competition can be unhealthy for your business and for you as the business owner mental state.  I learned this first hand and have created my

4 tips to outperform your competition: 

1.   Don’t be so focused on your competition that you lose sight of your goals and objectives.  Instead focus on what differentiates you and your business, focus on those traits and you will soon see the competition doesn’t seem that big of a threat.

2. Define your ideal customers, your audience, be specific, and learn to create your marketing messages to speak to them.  Who can you help the most, who most likely wants to buy from you?  Speak their language in all you do.

3. Don’t let competition be the boss of you.  I am learning that all things are not as they seem.  You might be so focused on how well your perceived idea of how well your competition is doing and that brings your morale and energy down.  Truth is, unless you have an insider tip, you have no idea how they are really doing or how much money they are really spending to attract clients. Ignore the noise, and don’t let a saturated market stop you from growing your business.

4. It is important to be aware of your competition, learn from them, if they are smart they are learning from you.  Yes I just contradicted myself from tip number 1, but did you noticed I said be AWARE not FOCUSED on your competition.  Two completely different aspects of a competitive analysis for your business.  Know what they are doing, but remember to stay in your lane and focus on your own driving.

Want to learn more:  Dive Deeper and watch/listen Jen’s teaching on 4 tips to outperform your competition

One of my 6 pillars to Build a Better Business is to help you create a competitive analysis, why do we do this to make sure we are maximizing all opportunities for you and also that you are pricing yourself to maximize profits.  Interested in learning more? email Jen at Jen@nextwavebusinesscoaching.com