Four Tips to Deal With Conflict on Your Team

Screen Shot 2018-02-20 at 10.10.03 AMEvery business owner has had some amount of conflict on their team, whether it has been the slamming of doors, a screaming session, or someone walking off a job site. No matter when it happens, or who started it, as the owner you’ll need to address the conflict and provide resolution as soon as possible.

How you approach resolving the issue is a question on the minds of many business owners because conflict resolution can disrupt the momentum you’ve set as an owner, your team dynamics and possibly your entire company. We all know how important it is to confront the issue directly before your workplace becomes toxic. I’ve outlined below four tips to keep in mind when dealing with conflict.

Pick Your Battles

When your staff work alongside each other every day, it’s inevitable that small disagreements will arise, so let these small issues work themselves out. However, when there is hard proof that an employee is causing conflict, it is an ongoing conflict, or other employees are being negatively impacted by this conflict, then it is time for you to intervene. More often than not, your staff is waiting for you to resolve the issue and if you wait too long, it can put your leadership reputation at risk.

Define Roles and Responsibilities

As owners, we are often too busy to create formal roles and responsibilities, but by not creating these documents, it can leave your employees unsure about what is and what is not part of their job. This ambiguity can often lead to one employee blaming another for issues on a project. The best way to ensure any role conflicts do not happen is to create and define each role and responsibility by clearly defining task objectives and expected outputs, and ensuring their job descriptions are up-to-date and reviewed regularly so their role’s purpose and duties are clear.

Don’t Take Sides

Just as there are low-performing employees who can irritate their coworkers, there are also high-performing employees who insist on doing things their way. Sometimes in a small office, we might even have members of our team who we get along with more, but it’s critical as a business owner to ensure that all employees feel heard and understood, and know that their manager is willing to step in and help solve an issue, rather than “side” with an employee who is liked or valued more.

Keep Things Private

Effective and supportive communication is often all that’s needed to solve conflicts in the workplace. Find a private setting, or maybe go grab a coffee with the employee so they feel supported and feel they can speak freely without judgment or embarrassment. They need to feel they can trust you to help resolve the conflict. Trust forms the foundation for every important relationship at work and typically, workplace disputes should not be discussed with the entire team unless it becomes necessary.

Conflict is an issue that you can minimize in the workplace and by doing so, can help you to build a more supportive, welcoming and productive environment. If you’re a business owner dealing with issues like this, don’t face it alone – contact TAB to find out how to become a member, or contact me today.


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!

Looking for a New Opportunity to Increase Growth

14561581102_472fb7425c_zIn my 30 plus years of working with a variety of business owners, their vision, drive and entrepreneurial spirit never ceases to amaze me!

When working in a consultancy business, owners often work up to 100 hours a week in a busy season or during a huge campaign, but when summer comes, or tax season is over, or whatever the reason they are hit with a slower period, resulting in decreased revenues. These business owners share with me how they are looking forward to the next juicy new client, business acquisition, or new advancement in their industry to boost their monthly revenues and increase growth.

I have shared with many of my clients that run their own consulting business that they might be interested in leveraging their expertise and owning a TAB franchise. This would be a complementary business to your current business that will provide recurring revenues, and give you an opportunity to help other businesses grow.

As a TAB franchise owner, you can create a new revenue stream while keeping your existing business. A TAB facilitator is a franchise owner, who runs their own TAB boards and provides business coaching to business owners. However, this does not mean selling your business and buying a new one, it means owning a new complementary business that will provide recurring monthly revenues and new growth opportunities for your current business.

For example, if you are an accountant and run a small accounting firm, and now are also a TAB facilitator, you can see revenue growth in your current business if your TAB members (business owners) need your accounting services as well. Although you cannot make them use your firm, or suggest that you are the only firm, the fact that you are already working with them and their business might go a long way when they are considering who to hire for their accounting needs.

Adding a new business to your existing business requires a lot of thinking, specifically about whether you have the fundamental operational aspects of your current business in place. You’ll need to look at whether you have a strong foundation in terms of staffing, operations and processes in place, because being a TAB facilitator will require you to be out of the office perhaps more than you already are, and you don’t want to sacrifice current business integrity or revenue for this new business venture.

As a business owner with vision and growth on your mind, you might want to consider becoming a TAB facilitator. It’s an opportunity to do what you love, make a real difference with others, leverage your expertise and receive recurring revenues. Contact me to discuss how to get started.


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

indexI’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.


How a Lean Business Plan Can Help You Focus on What Is Really Important

business-plan-images-1024x682As I have discussed with many business owners over the years, a business plan is your blueprint for success. It can help you manage your business more effectively, help support growth and secure funding. There are “Static Business Plans” and “Lean Business Plans”.

Since your business isn’t static, it doesn’t make sense to have a static business plan, which is typically long, complicated and never changes. Lean business plans assume constant change. They’re streamlined documents with no extraneous information. Instead of bloated paragraphs, lean business plans are written concisely with bullet points, lists and tables – easy to read and easy to revise.

A lean business plan is more than just a plan; it’s an ongoing process designed to optimize your business. This powerful tool includes strategy, a financial plan, action plan, tactics, milestones, responsibilities, performance metrics and tracking.

A lean business plan is a dynamic document that must be reviewed regularly and revised as needed. It’s something that can benefit every business. I’ve outlined below four important points of every lean business plan here:

  1. The pitch tells your story. Who are you? What do you do? What is your value proposition? What problem are you solving for your customers? How are you solving that problem? Who is your customer? Who is your competition? How are you different from your competition?
  2. The financial plan explains how you’re going to make money. What is your business model? What are your revenue streams? What is your sales forecast? Cash flow forecast? What are your major expenses? What is your budget to cover expenses?
  3. The action plan is how you’re going to do it. Who are your key team members and what are their roles? Who is your target market? What are your sales channels – online, bricks and mortar, third party distribution? Pricing? How will you be attracting customers – marketing, advertising, promotions, social media, messaging, public relations? Do you have partners or additional resources? If so, list them.
  4. Performance tracking measures the success of your plan. It compares results with expectations. List all of the specifics that you can track – money generated, products/services sold, number of new clients, milestones reached, web traffic, foot traffic, social media followers, conversions…

A lean business plan evolves as your business evolves. It will never be finished; it’s a process of continuous improvement. The cycle is constant – plan, run, review, revise. Review and revise your plan regularly to ensure that your business is on course with meeting goals, sales targets and operational milestones. In my experience, this plan can keep your business on track, and help you determine its success.

Are you using a lean business plan? Want more advice on lean business plans, or general advice from other business owners like you? Find out if a TAB Board is right for you!


5 Steps to Getting Your Business Back on Track

tab-croissance-1080x675One of the biggest challenges I find many small business owners face is dealing with complacency. When a new business first starts out, owners are overcome with excitement with every forward step. But at one point or another, the excitement of the early days starts to slow down, and eventually your company may begin to experience a plateau.

A stagnant business is one that faces little to no new activity for an extended period of time. Complacency tends to come from sticking with the status quo and getting used to your business’s “comfort zone”. Many business owners adhere to the mindset of “if it was working for the first 5 years, why change it now?” The truth is, sometimes change is exactly what you need to revitalize your business and get it growing again.

If you’re facing complacency in your business, below are 5 steps for revitalizing your business to get it back on track for growth.

1) Find out what your customers want

A lack of understanding about what your customers truly want from your business can be detrimental to your small business. This is why engaging in market research is essential to drive your company’s growth. Have you had a conversation with your customers to find out what needs are being met, and what needs aren’t? By hiring a market research company or a marketing agency with a specialization in market research to conduct unbiased market research, you will be able to gain invaluable information about your customers as well as your competitors. Once you’ve done this research, you’ll have a much better idea about how you can fulfill your customers’ needs to the best of your ability.

2) Focus on increases in certain sectors and products

Your industry landscape changes at such a rapid pace, and as a small business owner, it’s important that you keep up-to-date with it. Look at projected growth sectors to get an understanding of which products or services are headed for long-term growth, and which ones are on the decline. Some may be obvious, but others may not be so apparent. This is why it’s crucial to take the time and do proper research. Once you have a better idea about the projected growth rate of certain sectors, consider shifting your business model to become more aligned with these industry changes.

3) Re-examine former revenue sources

While focusing on changes in the industry landscape is important, equally important is looking at what has traditionally brought you revenue. After the first few years of your business, you may have lost focus on areas that were once reliable sources of revenue for your company. Have you steered your attention towards niche areas as a result of increased demand, and lost sight of your more dependable revenue sources? If your business has stalled, one of the first things you should do is gauge whether or not you have neglected some of your core competencies at the expense of chasing something new.

4) Review your company’s operations

I’ve found that many small businesses do not focus enough time and energy on their internal operations. Often, owners struggle to let go of the “startup” mindset they once had. This is a shame, as a company’s internal operations can have a huge influence on the productivity of their business. As your business grows, it’s important you grow with it. In a previous blog, I discussed the importance of delegation. Are you delegating work where necessary? Have you considered outsourcing certain tasks to allow you to focus on growing your business?

5) Create a plan

The only way you will be able to properly execute the above steps is if you have a solid plan in place. It’s essential you know exactly what resources are required and how much time and energy is needed to accomplish what you want done. Understanding these two key areas will allow you to set realistic short-term and long-term goals for your business. Remember, making any large-scale changes to your company takes time, so patience is needed to see through your goals.

It is important to keep the momentum going in order for your business not to stall. Although complacency is a frustrating obstacle to face, it is quite common. By following these 5 steps on how to revitalize your business, you’ll be equipped with the confidence to move forward and make the necessary changes needed to get your business back on the track you want it to be.