Questions to Help You Mind Your Business — A Summary.

October 02, 2017 by iamgpe in Leadership

A little while ago Renée Cormier and I were discussing business opportunities, the evolution of business, and the natural transition of start-ups and small business to keep pace — somewhere in all of this the idea of ten questions that should be asked was born. Over ten weeks we diligently posted our thoughts on each question and shared it with our various networks.

Part of the exercise was to develop our answers independently and post them together; something unto itself that was important because we wanted to offer two separate perspectives on the same question. This was a subtle reminder that people see things differently, have different ideas, and that the whole is almost always better than the parts. This was definitely apparent when people engaged with comments, thoughts, and perspectives we hadn't considered — something which offered even a better answer to the question.

For your convenience I have listed the 10 questions and links to the answers — I'm directing you to the social media platform beBee because quite frankly the comments and engagement are the best; again, adding to a better answer

1) What is the nature of your business? (How can I create a fuller picture of the nature of my business?

2) Where should I spend my money?

3) Do I need a plan for my business?

4) Should I hire a sales person?

5) How can maximize the value of my employees?

6) Why can’t employees just do what I tell them?

7) How do I build a team?

8) How can I manage my business and still have a life?

9) How will I know if I am successful?

10) Do I need to be using social media and how much do I really need to do?

Thanks again to Renée Cormier for collaborating on this, and I very much appreciate those who took the time to read and engage with what we posted.

As I mentioned, it all led to coming up with better answers.

iamgpe

Questions to Help You Mind Your Business... Question #8

September 12, 2017 by iamgpe in Leadership

Question #8 How can I manage my business and still have a life?

This is the eighth in a series of thoughts and opinions by Graham Edwards and Renée Cormier — click here to read the backstory and inspiration (if only for the entertainment). It should be noted that neither of us have seen or discussed our answers before they are posted, which in our mind makes this all the more interesting.

In this blog series we will attempt to answer ten different questions business owners may need answered, using our individual and unique perspectives and approaches. It is our hope that this series will inspire both action and interaction. Please feel free to comment and ask more questions.

Graham —

When I first read this question I could not help but slip into “Capricorn mode” and wanted to go off on a tangent about the whole Work-Life balance concept; something I’ve noticed that tends to get kicked around when people find themselves working more than they would like.

For those of you not familiar with the “astrological arts” let me offer up a Capricorn’s perspective regarding work — Capricorns are the most determined of the entire Zodiac, and the most prominent qualities of the Goat (as they are called) are ambitious, conservative, determined, practical and helpful. They make good team leaders and organizers because of their single-minded focus on their work, sense of responsibility and sincerity. They are perceived by people around them to be workaholics, unemotional and detached. Sometimes their negative qualities — suspicious, resentful, inhibited, pessimistic and stubborn are seen clearly, but deep inside the Goat is a humble heart. * (In fact, you should probably stop reading this and get back to work <insert smiley face>… sorta.)

Say what you will about the utility or validity of knowing I’m a Capricorn, it does make a nice segue into a perspective of Work-Life balance and more importantly scratching at an answer for Question #8.

I have always truly disliked the term Work-Life balance and not just because I was born in mid January — I believe the term is misleading as it suggests there should be balance between work and everything else. If you are truly looking for balance you should be considering a number of things that all carry importance in our lives:

Work and Career
Relationship(s)
Spirituality
Health
Personal growth
Rest, Play, and Reflection

This is by no means a complete list (or even academically accurate I suspect) but the important point to be made is that the more appropriate term probably should be “Life Balance” — work does not own fifty percent of the equation. The Capricorn in me also wants to defend work because more often than not it becomes the fall guy when other aspects of your life get fucked up as a result of willful neglect. I have far from mastered any of this (and don’t even get to sit at the adult table when it comes up in conversation) but I do know enough to understand it has to be viewed as a LIFE BALANCE for you to be successful.

And now to the question at hand — how can I manage my business and still have a life? Here is what I know (with none of it influenced by the stars) —

1. If you want to be successful (at anything) you will have to work very, very (add another very) hard — and this work will be very time consuming, particularly in the beginning. There is no way to avoid it so it’s important to be efficient, effective and ensure you are doing something you enjoy.

2. Hire people you trust. To build any business you will need people to help you and it is very important that you trust them — you will be asking them to work hard for you and they will if you let them.

Delegate when you can.
Understand the talents of the people you work with and use that talent.
Don’t micromanage the people you work with (actually don’t micromanage in general)

3. Measure what you do in terms of efficiency and effectiveness. You should be forever vigil in stopping any work that offers little or no value, as well as striving to do what you do faster (without compromising quality). Finding TIME (like customers and revenue) is extremely important — then you can decide what to do with it.

4. Don’t use work as a reason to avoid other aspects of your life — it will call catch up with you in the end.

5. Don’t forget your Life balance, and more importantly don’t dismiss it — it is where true success and fulfilment is found.

I met a man in his early seventies a little while back who was selling his business for health reasons — in our discussions he felt it important to mention one of his mistakes over the years was not delegating enough to his employees; he made a point of saying he truly regretted it. As we parted company I couldn’t help wonder if his inability to trust and delegate didn’t permeate through the rest of his life, and although he had a successful business, his lack of a life balance was killing him.

Who am I to say, I’m just a Capricorn working to answer the question.

iamgpe

As a postscript I must say Capricorns aren’t workaholic stick-in-the-muds — ask any Virgo or Scorpio.

* I found this on-line at www.ganeshaspeaks.com

Renée —

Business owners often find themselves at a loss to balance their personal lives and the demands of their work. I may not have all the answers, here, but I do know that people always make time for things that are really important to them. So I guess the first thing on the list of things to do in order to create balance is to get your priorities straight. Guard your time to nurture relationships with your family and friends, before they all disappear from your life. Set boundaries around activities that are not related to business. For example, make a point of eating dinner with your family every day. I often shut my cell phone off at 8:00 PM. There is rarely anything that happens after that time that can’t be tackled in the morning.

Several months ago, Graham and I were speaking with a business owner about his business and he admitted to being unwilling to grow his business because he already had too much work to do. I often think about how people like Sir Richard Branson, who own large corporations with multiple interests, manage their time. I can assure you, they do not try to do everything themselves. They delegate and trust in the ability of others to make decisions and do good work. That brings me to the second point on the list, I guess. Hire good people, empower them and delegate!

Once you hire good people you can delegate responsibilities to, you will be able to do the third thing on the list. Free up time to look after your own health and well-being. Eat good quality food. Set aside time for regular exercise, meditation, reading, or doing things that allow you to recharge your battery. If you don’t make time for those things, you will find yourself on an operating table and incapacitated for an extended period of time. What good will you be then?

The fourth thing, although, not necessarily less important than any of the others mentioned in this post, is to love what you do. Doing work that excites or inspires you keeps your energy level up. Focus on things you are really good at, because they will actually take you less time to complete, and you will do them well. Let others deal with tasks you don’t like as much (see the tip about delegating).

The fifth thing I would suggest would be to evaluate the importance of each task. How much time do you spend on time wasting activities which ultimately rob you of the balance you crave? Be sure to evaluate who you meet with, how you meet (phone or face to face) and when you meet with people. Save your most productive hours for the most important tasks. Let other people handle things that are not the greatest use of your time and commit to not doing anything that really doesn’t add value to your life.

The last piece of advice I can give to those seeking balance is to examine what drives you and how it relates to your self-perception. What is your definition of success? What are your emotions around money? How does your value for hard work relate to your self-worth? Are you only as good as the work you do? Does everything have be perfect in order to be good enough? Is it wrong to take a break when there is so much that needs to be done? We have a lot of stories that we tell ourselves that may not always be grounded in truth or logic. Just because someone once called you lazy, doesn’t mean you are. Just because you grew up poor, doesn’t mean you always will be at risk for poverty. You are not a failure if you make a mistake or disappoint someone. If you want balance in your life, then you really need to claim it, and know that that is something you don’t have to justify to anyone. Life is supposed to be a rich and joyful experience, but you must choose to make it that way.

Thanks to the social media platform beBee, Renée Cormier & Graham Edwards developed a business relationship and friendship that typically involves regular meetings, goal setting sessions, etc. Our meetings often provide the fuel for plans around business strategy, blog ideas and more.

Questions to Help You Mind Your Business... Question #7

September 05, 2017 by iamgpe in Leadership

Question #7: How do I build a team?

This is the seventh in a series of thoughts and opinions by Graham Edwards and Renée Cormier — click here to read the backstory and inspiration (if only for the entertainment). It should be noted that neither of us have seen or discussed our answers before they are posted, which in our mind makes this all the more interesting.

Graham —

I have been both an individual contributor and have managed teams though out my career, and when I say I really enjoy managing people and developing teams I’m dead serious. I will also say my most rewarding (and prolific) period in this regard started about ten years ago as the Millennials were entering the work force — we all learned so much.

The answer to this question will consist of three parts, and if “we are all lucky” it will tie together nicely at the end, and if not… well… it wasn’t for a lack of trying.

Part One — The Millennial

Why do I start here? It’s because I have first-hand experience managing and leading this generation, and because there’s a very large number of Millennials in the work force — they most definitely will be a big part of your team (directly or indirectly).

The Millennials are a popular demographic to be sure, and it seems that there are articles daily on their numbers, how they will soon eclipse the Gen Xers, and how they are tricky for current managers to… well… manage them. What is interesting with all of this commentary is that it has become a “generational discussion” instead of a discussion about how to build teams and manage the most important resource any business has to stay relevant. I suppose with all this commentary and insight the levers to manage this generation are different than previous generations, and god forgive that management may have to adapt.

My intention here is not to profile the demographic but rather offer some points of consideration from the perspective of hiring and ultimately building a team.

Collaboration: Millennials are very collaborative regarding how they work, how they want to work, and the environment they want to work in — this may in fact be the most important consideration when developing and leading a team. I always found it fascinating when having a meeting there was always someone who would say something and make a point of speaking for the team rather than themselves. (Well, it was for themselves but was artfully couched in the safety of the team)

Recognition and Reward: Millennials hold a high need for recognition and reward; this is a component of that overall perception that Millennials are entitled and have a belief system that they are very, very special.

Impatient: Whatever the reason (be it the quick response from Google, their friend’s quick response on Instagram when they are bored, or that their parents gave them candy when they cried), Millennials are quick to become disheartened or bored if they don’t get what they believe they should be getting in a timely fashion (see above). This is very much reflected in the growing nomadic nature of Millennials as they move from job to job or entry-level sales professionals believing they should be the VP of Sales after six months.

Bravado: Millennials show really, really well. They may know all this technology you don’t, they will say they know how to do it (and they truly believe it), are confident and articulate, and (I’m paraphrasing here) are the “best generation ever” — that’s what they say (and so do their parents). I’ve seen more than one leader hire on this “bravado” and then be surprised (and slightly disappointed) when the person has to start at the beginning (like the rest of us).

Are Millennials a high potential generation? Yes, they sure are. Do they get a special “bye” when navigating free enterprise, macro and micro economics, as well as the world at large? Of course they don’t. We are all very similar in this regard.

Part Two — Hiring (and Development)

It’s a rarity that you get to build a team from scratch and most likely will hire into your existing team when expansion or vacancies occur. Whatever the reason for hiring though, I believe that by definition a team is supposed to be a dynamic creature, forever evolving and forever developed.

Good people get promoted and others developed up or out of the organization. No one is served by having a static team.

Hiring should be a “regular enough” occurrence and recognized as important enough to have a process in place — 1) goals, objectives and expectations of the team, 2) job descriptions and required competencies, 3) a hiring process, 4) a hiring team in place, and 5) an understanding of the strengths and weaknesses of your current team. All of this will just make the process go smoother and frankly ensure you hire the best person possible. Click here for a blog I recently wrote on hiring.

Development is a close cousin to hiring and very much an aspect of building and growing the team. Development also offers an understanding regarding the type of person you may need to hire into your team that will complement the current skill set of the team and its maturity. When I hire I always consider three things — does the person have the competencies (or able to develop the competencies) to take on the role, is the person promotable with time, and will the person make the team stronger.

Part Three — Building a team

The following are some key considerations when building a team — with a golden rule that they apply to everyone. There are no exceptions that fall outside of the team and how it operates (it does not matter how “super” the superstar is, they don’t get an exemption).

Clear objectives and expectations: It is important to have (and clearly communicate) objectives and expectations as they apply at the team and at the individual level, and be consistent with them over time. Since team objectives are a consideration of “You, Me and Us”, it is important to be collaborative in review and development. And as with all objectives (and expectations) three to five are enough.

Operating mechanisms: This refers to the meetings and activities that are used to operate, manage, and develop the team:

Individual 1:1 meetings
Team meetings
Performance reviews
Development reviews
Team building events
Cross functional meetings

This is not to suggest that you bog yourself down with meetings (because as you know work needs to get done), but you do need to ensure that the team is operating effectively and efficiently.

Transparent communication: Be as communicative as possible. Teams perform better when they are in the know, be it good, bad, or indifferent. A dialogue will always develop a better perspective, solution and result.

Diversity: A team is the sum of its individuals (and more), and it is important to create as much diversity as possible — gender, experience, skillsets, tenure, et cetera. This will offer different perspectives to your discussions, support training and mentorship, and help you manage though times of transition (when people leave for various reasons). And if you really want to better understand the diversity and hidden strengths of your team, I recommend you profile everyone (including yourself). I’m familiar with both Meyers-Briggs and DiSC, and they helped me better understand myself, my teammates, and encouraged better communication and common ground for understanding.

Reward and recognition: Celebrate success! Learn from mistakes! Both are important. With that said, unlike grade school everyone doesn’t get a medal for participating so it is important to define what will be celebrated and reinforce what success is whenever you can. And then celebrate it (BIG).

Leadership: Teams are an incredible opportunity for everyone to be a leader and contribute to the success of the team, but remembered there can only be one “owner” of the team — one person who will answer for the success of the team or it’s failure. The success or failure of the team you build is a reflection of you! It is one of the coldest of realities when considering “How do I build a team?”

And with all of this said, probably the most important piece of insight I can offer is to take building a team very, very seriously — because doing it right is not that easy.

iamgpe

Renée —

It is interesting that question seven is about team building. I consider that there are seven essential rules for creating an effective team. Check them out below and let me know what you think.

Rule number one for assembling a team is to hire good people and exclude all others.

Teams are all about the people who are on them, so if I had to advise anyone regarding their initial approach to building a team, then I would advise them to get rid of people who don’t have the right attitude. Anyone who is self-serving, negative, unreliable or untrustworthy should be eliminated from the start. These people are toxic and will interfere with your success.

“You're only as good as the people you hire.” - Ray Kroc

Rule number two is to make sure your team is composed of people with diverse skills and backgrounds.

The best teams are made of people with diverse backgrounds, talents and skills. Consider, race, gender, ethnicity, professional expertise and personality type when assembling your team. There are many assessment tools that allow you to determine a person’s suitability to various tasks and their compatibility with other team members. Truity offers free online Meyers Briggs tests and has good descriptions of each type and how they interact with others. It is important to have just the right amount of push and pull between people.

Rule number three is to ensure each team member has respect for each member’s level of expertise.

Nothing will ever go smoothly in a group where there is no respect between all members. You don’t need 100 per cent agreement all the time, but you do need to respect the opinions if other group members and their level of expertise. Respect and trust go together. You cannot have one without the other and no team will function optimally without both.

Rule number four is to establish trust between members.

Every team member needs to be able to establish a trusting relationship with each member. Building trust between people is something that takes time, but if you have already assembled a group of good people who share similar values, then you will have fewer hurdles to overcome. Team members need to be able to trust the work quality of their team mates, trust their ability to stick to deadlines, trust their opinions and trust that they will not do anything to undermine the team’s success.

Rule number five is to establish a set of values to guide decisions and all other work.

I feel that it is important to establish a set of values that each group member adhere to as they work on projects and make decisions. It is enormously helpful if the values that are established are values that each individual genuinely appreciates and adheres to in everyday life. I say this because my feeling about values is that you either have them or you don’t. They can’t be shut off or turned on at any given moment. For example, it is easier to embrace the value of integrity and doing the “right thing” if your natural inclination is to be that way. If your moral compass wavers in your private life, however, then you will have no problem doing the wrong thing whenever it suits you.

Rule number six is to establish and work toward a shared vision.

Teams need vision as much as they need values. Knowing what the big picture is allows the team to move beyond being a group of people who complete tasks. People who share a common vision are able to think more creatively and be flexible with their ideas.

Rule number seven is to establish strong leadership.

In a group, the person who really wants to lead and take over, should not be the leader. These people stifle creativity and create resentment. Every workplace seems to have a martyr who takes on all the work of the others, controls all the processes, works tirelessly without breaks and gives no opportunity to others to shine or contribute in any meaningful way. These people are terrible leaders but will volunteer for everything. A strong leader recognizes the strengths of others, sees that work is evenly distributed and that people are working in harmony. The best leaders delegate fairly, elicit input from others, make decisions, have everyone’s back and have no personal agenda.

There is a lot more to making a team work smoothly than what I mention in this post, but you will be off to a strong start if you are able to gather the right group of people from the start. I have always been an advocate of not keeping negative influencers in your company. It may not be practical for you to fire all the negative people from your organization. Ultimately, your ability or inability to attract and retain good people is a reflection of your own leadership. You may have to start with fixing yourself, first.

“Teamwork makes the dream work, but a vision becomes a nightmare when the leader has a big dream and a bad team.” - John C. Maxwell