Inside Small Business | Small Business & Home Business Marketing

How to Keep All-Stars from Walking Out the Door

Milo Lewis, Founder & President, Cloud 10 Financial

Can you imagine how your business would operate without key employees? After all, an empty desk cannot create a report, attract a customer or hold a meeting. The truth is the hardest part in developing a staff is not in “obtaining” great people but in “retaining” great people.

Below is a list of 5 reasons people quit and the things you can do as a business owner to keep your staff count high out of the red!

1 -You Better Recognize!
It amazes me how many business owners put together salary and compensation models to retain employees, yet put very little to no thought on a how to recognize and appreciate their staff! Don’t get me wrong, money is an imperative factor to get the people on your team, but to keep them engaged and striving for more than a paycheck, a little recognition will go along way.

It is ok to be a tough boss and demand a lot from your teammates, but just as you find it important to give a “Kick in the Pants” from time-to-time, don’t forget to give a “Pat on the Back” when it is deserved as well. Remember that when employers forget to recognize staff it means they forget to appreciate, and when your teammates feel under-appreciated, one foot is rightfully always out the door. Bring that foot back in and let them know you recognize their efforts and success.

2- Understand Work-Life Balance
When I was building my company model, I was specifically focused on how the pay structure would impact my teammates and also remained sensitive as to the balance between work hours and family life. As a result I created an “At Home Professionals” program for those teammates that I know can work self-sufficiently and needed to work from home so they can spend time with their families or satisfy competing obligations. This has allowed me to attract and keep some of the most talented professionals and has made my corporation much more productive and efficient with a limited overhead.

Without this element, I would have seen a lot of resignation notices, not to mention certain employees who would have never been hired if we did not have such a flexible model. Imagine your product for a minute. Can you imagine how unsuccessful you would be if you just built products that made the company rich and did not focus on the customer needs? The same is true for our employees. While certain job descriptions require set-in-stone hours, if you want to obtain and retain the best, be flexible when and where you can.

3- Build a Culture of STARS
Sure, getting a logo for your company is a necessity for product marketing and corporate branding, but it can also help you build an identity and culture within your organization. Identify what your company stands for, who are you and why are you different. Build a model that people gravitate to, so something keeps “pulling them back “ when teammates think of leaving. I will share for you our culture at Cloud 10 Financial Inc. It is known as the “STARS” Culture, which means every employee is committed to demonstrating the following: Sales, Teamwork, Accountability, Recognition and Service!! Make sure a team culture is built in your company so your teammates are part of more than just “a job.”

4- Empower Don’t Overpower – Know the Difference
Put your business card away when working with your teammates! Yes it is great to own your own business or to have some really exciting job title, but beyond bragging rights and self-gratification, it means nothing if you do not perform! Remember that the image of success is easy to achieve but real success takes time, work and great people. So, instead of always being the boss, delegate some of your responsibilities to others - especially those that are better than you. My Executive Assistant bosses me around more than I her, and many times my teammates (notice they are not called employees) will with candid tones let me know what is on their minds and what we need do differently.

Everyone on my team knows they are great, they are empowered and that they are expected to lead, even me sometimes! So, never forget that a “boss’s” job is to provide tools, remove hurdles and empower others to victory. Do everything you can to make this clear, otherwise you can change your business card job title to “turnover guru” because pushing people out the door is exactly what you will be doing.

5 – Promote Leadership to keep Leadership
A simple but true statement I have often heard is that “people work for people.” As your business grows, and as you become depended on other leaders to manage portions of your company, what factors into your choice-making model when promoting the person who handles that assignment? First, make sure they are qualified, which means they can do the job as well as anyone they are leading. Make sure they desire to help others win and have the ability to drive others. Make sure they have good corporate principles and understand that leadership demands responsibility and to make responsible choices when leading others. If you put the wrong person in charge of your future leaders, before they blossom, your brightest stars will exit from your company and at their greatest moments work with a competitor.

In summary, if you focus on these little things, you will keep more employees and the ones who stay will be excited to do so. It goes along way for corporate moral and job satisfaction!

Now Go Grow Your Business and Keep Your People!!

Milo D. Lewis is the Founder President and CEO of Cloud 10 Financial Inc. He has demonstrated great talent, success and experience in the financial services arena at the young age of 29. Cloud 10 Financial has 10 direct team members and over 100 certified loan originators, and anticipates having over 1000 home loan consultants and loan originators by the end of 2007.

Reach Higher Expect More™
www.cloud10financial.com

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8 Tricks to Light the Fire in Your Employees

The job of a manger in the workplace is to get things done. But the manager can’t do it alone. He or she requires employee contribution in order to carry out a company’s objectives. For the manager to be successful, he or she must be able to motivate employees both intrinsically and extrinsically.

That being said, how well do you motivate your employees? Do they come into work each day ready to go to work, or do they seem to move in slow-motion from time-to-time? Having a team of motivated and hard-working employees working for you is critical for the success of your company. But if your employees become unmotivated, they and your company become less productive.

Below are eight tricks to lighting a fire under an employee who lost his or her motivation, or simply maintain the flame in the over-achieving employees on staff.

POINT EMPLOYEES IN THE RIGHT DIRECTION
Your employees want to advance their career just as you did. Working to help them establish a plan focused on growing their career should create the motivation they need to remain productive. Providing them with something to work towards will keep them engaged in their day-to-day activities.

COMMUNICATE THE IMPACT
Employees who feel passionately about the purpose of their job are much more likely to perform at an above average level. It is a manager’s job to bring the purpose of his/her employees’ jobs to life. Find the real impact of your job and the jobs of every person in your team. Communicate the impact and bring it to life.

ACKNOWLEDGE ACHIEVEMENT
Praise is always good for motivating your employees. Whether for something big or something small, your employees want to be acknowledged for all of the good things they do. This is perhaps the easiest method of employee motivation, so take advantage of that and be generous with your compliments.

MONITOR PERFORMANCE
It is important for your employees to know that you sincerely care about the work they are doing. Be careful to not micro-manage, but ask questions and try to find ways that your employees can improve. When you find improvement opportunities, communicate carefully to ensure that your employee feels supported and encouraged rather than corrected.

ESTABLISH INCENTIVES
Encourage your employees to perform well. You can do this by offering small rewards like movie tickets or gift certificates to a well-renowned restaurant, or you can give larger rewards like performance based employee bonuses. Some companies recognize and “Employee of the Month”, which can also go a long way towards motivating your employees to produce more for your company.

GET OUT FROM BEHIND YOUR DESK
Your employees should see you mingling around the office at least a few times each day. Maybe first thing in the morning to check on how everyone is doing, or in the afternoon, when your employees seem to hit that three o’clock slump. Be sincere and let them know you are on the same level, working towards the same goals. A manager who is well known by his or her staff is usually well respected.

GET PERSONAL
Give your employees a little insight into your personal life and show some interest in theirs. If your employees have children, know their names and ask about them by name occasionally. If an employee is going through a difficult situation personally, be encouraging, understanding, and flexible while remaining focused on company objectives. A manager should not be an employee’s best friend, but should be vested in his/her employees to the point that he/she cares passionately about each employee’s personal growth and success.

ENCOURAGE FUN
Everyone appreciates a manager with a good sense of humor. This does not mean you have to put on a song and dance, or rehears your stand up routine. It just means know how and when to laugh. Those companies who learn to work hard and play hard are often more productive than the ones which never let their employees come out to play.

Applying these eight tips is an excellent path towards motivating your employees. The result will not only establish a good working relationship with your staff, but boost your company’s productivity as a whole. Just remember, as a manager, it is up to you to motivate your employees or risk the chance of failure. That should be all the motivation you need.

For more information on finding good employees, visit CareerBuilder.com.

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How’s Your Web?

Dave Dresen, Director of Design, Logoworks

I’ve covered the first steps in establishing your brand. You have a strong, clean, professional logo, and your stationery has become an extension of your image as well as a valuable customer retention tool. You’re starting to bring in business, and you feel like everything is really clicking. Then, possibly 6 months or even a year down the road, business is kind of flat and you’re not bringing in the volume of customers you thought you would. You think to yourself, “It just doesn’t make sense, I followed the advice of that designer from Logoworks, and he said this would really help my business get off on the right foot. I knew he wasn’t the brightest crayon in the box.”

Well, to nip that in the bud, let me say this - your branding is just getting started and is an ongoing process that can take months and even years. The next vital step in the process is your web presence, or may I say, lack thereof. A professional web presence is invaluable if you are to reach those customers that are beyond your immediate reach. I say presence, because this is more than just a “site”. It is another extension of who and what you are, and is visible to the world! The type of image you show will have far reaching effects on your business. Here are 6 little morsels as to why you should hire a professional web designer instead of your cousin Vinny. Oh, for those of you that are named Vinny, there is definitely no harm intended, and for the record, I love your work.

1.Impress Potential Employees – Put yourself in their shoes. You’re looking for that big break, that job that will establish you in the world of employment. You want to be somebody, and you want to work for a company that will get you there the quickest and provide you with the best work experience and environment. You start to compare companies on the web. One site you visit has clean design, easy navigation, and visually stimulating material. The other site has the same information, but is cumbersome to navigate, and visually looks like a high school art project. Don’t freak out and get mad at me if your son or daughter is in a high school art class. I was there too; I saw Vinny’s work. It’s this simple, if you want to attract the top talent, a professional web design will be your ticket.

2.Distinguish Yourself – I admit that if Vinny designed you a website, you would definitely distinguish yourself. I just don’t think that distinction would be the kind want. You are competing for that valuable minute of time a web surfer takes to decide whether he is going to stay and linger on your site, or leave. You can’t afford to have a site that blends in with the rest of your competitors. You need to set yourself apart as the best option for providing that service, and the best way to do that in the shortest amount of time is through imagery and easy navigation. If your site is visually stimulating, interesting and easy to sort through, the customer will spend more time on your site, which will lead to a higher conversion rate. The skinny…more money in your pocket!

3.Build Credibility – It’s not easy for a startup business to compete with Mr. New York across the country. You don’t have the money or the leverage. You do however have the same audience, and that is the most important factor. If your site looks like you have been in business as long as the other guy, and you have a strong professional offering, who’s to say that the customer won’t buy from you. You will at least have the opportunity to prove yourself. The final hook will probably be service and price - and that’s up to you, but your credibility won’t be in question.

4.Silent Salesman – Your website will often play a role in the final sale to some customers. You won’t always have the time, or may not want to, make that final sale in person. A website is a perfect place for you to refer them to for more valuable information without the pressure of Vinny and Guido standing there. A lot of customers prefer to do the research on their own anyway. This takes the pressure off of you to explain everything you do by giving you a valuable tool that is reachable by the entire world. Your professional website will do the talking for you, and the result will be increased profits without much work.

5.Building a Consistent Brand – This is very important, because this is the easiest way for you to reach the most amounts of people. Unless you have endless advertising dollars, your website is the only way for you to extend your brand worldwide. This is the one place that will have the most global impact on your company. If you don’t keep your brand consistent, you will be limiting your marketability, and confusing the consumer. An established brand will be marketable and recognizable.

6.Increased Visibility – I briefly touched on this above, but it’s as simple as this…worldwide, is worldwide. The Internet works by linking one site to another. If you have a professionally designed site that is being visited and talked about, the links will grow and your web traffic will increase. The increase in traffic results in an increase in product awareness, which in turn leads to website conversion. If you have conversion, you have business success.

Because a professional website design can have such a large impact on your business, and a poorly designed site can have a detrimental one, I strongly encourage you to look at your web presence, and apply the above six points. If your site doesn’t do all of the above, or you don’t have a site, I have one question for you…do you want Vinny’s number, or mine?

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