If you’re a manager or a business owner, you comprehend the significance of monitoring employee productivity in order to maintain a high-performing team. However, it is equally important to approach this task with empathy and respect, avoiding the perception of constant surveillance and becoming the manager that everyone loves to hate (just like the boss from the Office Space).
Establishing clear expectations forms the foundation of respectful productivity. Employees need to comprehend what is expected of them and how their performance will be assessed.
By precisely defining goals, deadlines, and key performance indicators (KPIs), you provide a transparent and equitable framework for tracking productivity.
The Key to Lasting Bonds: Open and Transparent Communication
Open communication is crucial when it comes to monitoring employee productivity respectfully. Foster an environment where employees feel at ease discussing challenges, seeking guidance, and sharing progress. Encourage regular check-ins, one-on-one meetings, and team discussions to offer support, address concerns, and celebrate achievements.
Remember, effective communication entails active listening and providing constructive feedback.
Utilizing Technological Tools
In today’s digital era, numerous tools are available to help efficiently and unobtrusively track productivity. Here are a few popular options:
1. Time Tracking Software:
Employ time tracking applications that allow employees to log their hours and monitor the time spent on specific tasks or projects. This provides valuable insights into productivity without excessive micromanagement.
2. Project Management Platforms:
Platforms like Trello, Asana, or Jira enable teams to collaborate, assign tasks, and monitor progress. These tools offer transparency and accountability while respecting employees’ autonomy.
3. Employee Monitoring Software:
While controversial, some organizations find value in monitoring software, like Acti Trak, that tracks employees’ computer usage and internet activity. However, it is crucial to implement such tools with clear communication and consent from employees.
Remember, technology should complement human connection rather than replace it. Strive for a balance that empowers employees instead of making them feel excessively scrutinized.
Providing Training and Development Opportunities
Investing in the growth and development of your employees not only enhances productivity but also nurtures a positive work environment. Offer training programs, workshops, and resources to enhance their skills and knowledge. When employees feel valued and supported, they are more likely to be motivated and engaged, resulting in increased productivity.
Acknowledging and Rewarding Performance
Recognizing and rewarding your employees’ hard work and accomplishments is crucial for maintaining motivation and morale. When employees feel appreciated, they are more inclined to go the extra mile. Implement an employee recognition program that acknowledges exceptional performance, whether through verbal praise, team shout-outs, or tangible rewards.
Celebrating successes together creates a positive atmosphere and encourages sustained productivity.
Balancing Autonomy and Accountability
Finding the right balance between autonomy and accountability is essential for tracking productivity without being intrusive. While it is important to hold employees responsible for their work, excessively micromanaging every aspect of their day can be demotivating and counterproductive. Trust your team members to manage their own time and tasks while providing support and guidance when necessary.
This approach fosters a sense of ownership and empowerment, resulting in higher productivity levels.
Cultivating a Supportive Work Culture
A supportive work culture plays a significant role in effectively tracking employee productivity. Foster an environment that encourages teamwork, collaboration, and mutual respect. Encourage employees to openly share their ideas, concerns, and feedback. When individuals feel safe and supported, they are more likely to be engaged and productive.
Conclusion
And there you have it! Monitoring employee productivity can be accomplished respectfully without resorting to intrusive methods. By establishing clear expectations, promoting transparent communication, utilizing technology wisely, providing training, and rewarding performance, organizations can foster a productive work environment while maintaining employee trust and morale.
By adopting these strategies, employers can strike a balance between accountability and respect, ultimately leading to improved productivity, stronger employee relationships, and overall organizational success. Remember, a harmonious workplace built on trust and open communication paves the way for both individual and collective growth.
So, let’s embrace these practices and create a thriving work culture where productivity and respect go hand in hand.
Two young entrepreneurs or businesspeople are working together to brainstorming analyze investment data in documents and laptops.in planning the company's profitability and dealing with the recession
The so-called millennial generation (also called “Generation Y”) includes people born between 1980 and 1998. Many older millennials, now in their early to mid-30s, are already established in their careers. Chances are that many of them are already working throughout the ranks of your organization. They have taken part in your training, maybe even designed parts of your training, and chances are very good that you already understand their learning preferences well.
Let’s take a closer look at younger working millennials – people born between about 1990 and 1995. These are the younger workers who might be applying for their first “real” post-college jobs with your organization right now. They’re young and fresh-faced, yet if you’re a a generation or two older than they are, chances are that you’ve hit some roadblocks when creating training programs that work well for them.
Key Traits of Younger Millennials
Although generalizations tend to be flawed, here are some attitudes that we have found to be shared by significant members of this cohort.
An entrepreneurial mindset – They want to stake out a business identity and space for themselves – even in larger companies.
Risk tolerance – Many are self-confident and are willing to help their employers take risks.
A love of technology – They tend to be highly mobile and like to access information and training on smartphones and tablets.
Social consciousness – They tend to be compassionate and respond positively to working for companies that embrace and support social causes and “doing good in the world.”
Openness – Many welcome being part of diverse workforces. Furthermore, they are more welcoming of alternative lifestyles than preceding generations were.
Career mobility – Many do not have a lot of company loyalty – they will change jobs often as a way to achieve personal goals and success.
Critical Steps to Take when Training Millennials
As you develop and improve your training programs, here are some ways to make them more compelling and effective with younger millennial workers:
Keep it short – Present learning lessons and modules in small “digestible” chunks that millennials can absorb quickly. They are a fast-moving cohort and often become uninterested as soon as training seems irrelevant.
Use animations, WAV files and other moving images to deliver key concepts. They work better than words or text to convey big concepts to millennials.
Deliver training on platforms that millennials prefer and already use, including smartphones and tablets. They are the mobile-friendly generation.
Ask for their ideas and suggestions during training, because millennials think like entrepreneurs, value autonomy, and like to shape the content of their jobs.
Express your company values in your training. You can explain, for example, that your organization is trying not just to generate profits, but to support employees and do good in the world. When younger millennials see that their work supports those objectives, they are more likely to believe in company leaders and initiatives – and more likely to experience levels of satisfaction that make them want to continue working for you in the long term.
The art of finding and acquiring early adopters for your product is vital for any successful brand or product launch. It’s uncommonly known as the diffusion of innovation theory.
Here’s why it matters to the success of your next product or service launch…
Basically, the concept of innovation diffusion theory is a fancy way of explaining the spread of adoption and acceptance of any concept, products, or service among individuals within a community or industry. Sociologist Everett Rogers introduced this theory in 1962, claiming that the adoption of innovations adheres to a predictable pattern. A pattern you can use to grow your business.
Heres’s how…
The theory explains that mass adoption of your product or idea begins through a series of stages of adoption by different actors or customer types. Starting with the adoption of innovators and early adopters. The main personas in the diffusion of innovations theory are:
Innovators: People who are open to risks and the first to try new ideas.
Early adopters: People interested in trying new technologies and establishing their utility to better their outcomes.
Early majority: Those who have proven the initial use of a new idea, product, or service.
Late majority: The set of people who follow the early majority into adopting the innovation after it’s been tested to work.
Laggards: People who lag the general population in adopting innovative products and new ideas. This is primarily because they are risk-averse and set in their ways of doing things.
Eventually, the sweep of an innovation through mainstream society makes it impossible for them to conduct their daily life (and work) without it. As a result, they are forced to begin using it.
In academic terms, the diffusion of innovations theory is widely used by marketers today to promote the adoption of their products. In business terms however, the goal when launching any product or service is to find and attract an early set of people passionate about the product, concept, or idea.
These early adopters are responsible for evangelizing its utility to larger audiences (ie. word of mouth marketing, testimonials, and past client proof).
Thus, attracting early adopters plays a crucial role in refining your offer, spreading the word, and attracting a mass customers.
However, reaching out, and engaging with these early adopters can be a difficult and frustrating process. But it doesn’t have to be, in this comprehensive guide, we will take you through effective strategies and techniques to discover and win over your first product adopters.
Let’s delve into it!
“Understand Your Target Market” – Captain Obvious
Before embarking on the quest to find your first product adopters, it is essential to have a clear understanding of your target market. The easiest way to set yourself apart from your industry is to study your competitor’s customers: Analyze the customer base of your top competitors. Identify who they are targeting and what unique value propositions they offer.
This analysis can help you refine your own target audience and differentiate your offerings.
Then, utilize surveys and interviews to gather qualitative data. Ask questions about their needs, challenges, and motivations related to your product or service. What did they hate or feel uncomfortable about the product or service? This firsthand information can provide valuable insights into the mindset and preferences of your ideal customers to set yourself apart from the industry pack.
By gaining deep insights into your target market to position your service as new and different, you will be better equipped to tailor your product and marketing efforts to attract early adopters.
Harness Your Network’s Potential: Unlock Opportunities and Success
Your existing network is your biggest resource (as big or small as it currently is) when it comes to discovering your first product adopters. Don’t be afraid to reach out to friends, colleagues, and industry connections who might be interested in your product or know someone who could be. Share your vision, value proposition, and request their feedback on what you’re planning. If they aren’t a target buyer chances are they know someone who is.
You might be surprised how many initial leads and referrals you can get just from your family and friends list.
Utilize social media platforms and professional networks like LinkedIn to expand your reach and tap into relevant communities and groups. Networking events, trade shows, and industry conferences are also excellent opportunities to connect with potential early adopters face-to-face.
NOTE: Just Google “event directories” to find upcoming events where you can discover upcoming industry events that contain your buyer persona.
Create a Killer Landing Page to Make Every Click Count
Crafting a compelling landing page is essential to attract and capture the attention of early adopters. Now before you say; “no shit Sherlock”, here’s exactly how to do that:
Take a break from this article and go watch this 30 minute epic video from a private workshop with story branding expert Donald Miller, who will explain and show you how to sell yourself and your product in a way you never knew was possible.
WATCH:
By utilize persuasive copywriting techniques like Donald Miller, compelling visuals, and customer testimonials to build credibility. Incorporate strong calls-to-action (CTAs) that encourage visitors to sign up for early access, join a waitlist, or participate in a beta testing program.
Make it effortless for interested prospects to leave their contact information, enabling you to nurture and engage with them effectively.
Develop a Pre-Launch Marketing Strategy Like Jeff Walker
If you haven’t read Launch by Jeff Walker, stop reading this and go purchase the audio book on Audible and binge listen to it. It’s a master-class on launching any product or service.Walker is a renowned online marketing expert and basically the god-father of internet marketing.
Walker developed a pre-launch sequence known as the “Product Launch Formula.” This sequence consists of several stages designed to build anticipation, engage the audience, and generate excitement leading up to the launch of a new product or service.
Launching a product or service now and don’t have time to listen through the entire book? Watch the condensed training from Jeff Walker himself:
WATCH:
To summarize the typical pre-launch sequence by Jeff Walker includes the following stages:
1. Pre-Pre-Launch:
In this stage, you start warming up your audience by delivering valuable content and building anticipation for the upcoming launch. You may offer free content, such as videos, blog posts, or reports, to attract and engage potential customers.
At this point, you aren’t selling anything (yet) and instead you are building authority, sharing consistent content, and indoctrinating your audience with your belief systems.
2. Pre-Launch:
This stage involves delivering valuable, educational content related to the upcoming product. It aims to establish your authority and credibility while addressing the pain points or challenges your audience may be facing. You may offer additional free content, conduct webinars, or provide case studies to generate interest and excitement.
The goal is simple–get people super excited so that they mark their calendar in anticipation to invest in your offer when the doors open.
The three emails you need to include are:
Teaching potential customers about the opportunity for their life to change by removing pain or teaching them how to get more pleasure (or both).
Showing them a transformation and how it can fit in their lives via case studies.
Helping people take ownership of the idea of your product and how it can potentially change their lives.
3. Launch:
This is the main event where you officially introduce your product or service to the market. It typically involves a limited-time offer, special pricing, or bonuses to incentivize early adoption. During this stage, you focus on driving sales and conversions by highlighting the unique benefits and features of your offering.
4. Post-Launch:
After the initial launch, you continue to nurture the relationship with your customers by providing ongoing support, additional content, and upsell opportunities. This stage is crucial for building long-term customer loyalty and maximizing the lifetime value of each customer.
Throughout the pre-launch sequence, Jeff Walker emphasizes the importance of storytelling, creating a sense of urgency, and effectively communicating the value proposition of your product or service. By following this sequence, you can generate excitement, attract a highly engaged audience, and achieve successful product launches.
To generate buzz and anticipation for your product, it is crucial to develop a pre-launch marketing strategy.
Start by creating engaging content such as blog posts, videos, and social media teasers that highlight the unique features and benefits of your product. Leverage search engine optimization (SEO) techniques to ensure your content ranks well in relevant search results. Consider collaborating with influencers, industry experts, or early adopters themselves to create a sense of credibility and trust. Utilize targeted email campaigns and social media advertising to reach your desired audience and drive traffic to your landing page.
Go From Passive Observer to Active Participant: Engage in Online Communities
Eventually you will quickly exhaust your personal contact and connections. That’s when online communities and forums are treasure troves for discovering early adopters. Identify platforms and forums where your target audience gathers, such as industry-specific subreddits, Facebook groups, industry forums or even hobby groups.
Actively participate in discussions, provide value, and demonstrate your expertise. Avoid overtly promoting your product; instead, focus on building relationships, answering questions, and offer insightful advice. Once you’ve established trust and credibility within these communities, you can subtly introduce your product and invite early adopters to try it out.
Don’t know where to start? Start by searching for digital events, conferences, or virtual trade shows related to your industry. Participating in these events allows you to network with potential customers and connect with individuals interested in your product.
Offer Exclusive Early Access or Beta Testing Programs
Creating a sense of exclusivity and offering early access or beta testing opportunities can be highly effective in attracting early adopters. Provide a limited number of spots for users to try your product before its official launch. This strategy not only makes early adopters feel special but also allows you to gather valuable feedback and iterate on your offering. Encourage participants to share their experiences on social media and provide referrals to expand your reach organically.
By nurturing these early relationships, you can cultivate a strong base of loyal customers who will advocate for your product.
Seek Feedback and Continually Iterate and Improve
Once you’ve onboarded your first product adopters, it is crucial to actively seek their feedback and iterate based on their insights. Regularly communicate with your early adopters, listen to their suggestions, and address any concerns or issues promptly. Use feedback channels such as surveys, focus groups, and one-on-one conversations to gather qualitative and quantitative data.
A couple popular platforms to foster dialogue with beta testers are Slack and Discord (food for thought).
By continuously refining your product based on customer feedback, you not only enhance its value but also demonstrate your commitment to customer satisfaction.
Conclusion
Finding the initial product adopters for your business can be a challenging yet hellishly rewarding endeavor. By following the strategies outlined in this guide, you can increase your chances of attracting early adopters who will play a significant role in driving the success of your product. Remember to understand your target market, harness your network, create captivating landing pages, develop pre-launch marketing campaigns, engage with online communities, offer exclusive access, and prioritize feedback and iteration.
Embrace the journey of finding your first adopters as an opportunity to build strong relationships and refine your product to meet the needs of your target audience.
It’s often said by thought leaders and business gurus that “it’s never been easier to start a business than today”. While that may be true it’s also never been more confusing time to run one in today’s uncertain business climate.
Running a business is a thrilling journey filled with highs and lows, triumphs and challenges, joys and stress. Business owners experience stress of all kinds. When it comes to stress, you can say we’re experts at it.
But there is one kind of stress I want to talk about today – dealing the stress of uncertainty.
The Massive Elephant in Every Boardroom: Uncertainty
It’s widely acknowledged that uncertainty is a common concern among business owners. And for good reason. Market fluctuations can come out of nowhere like a tornado and destroy us at any time. Regulatory changes and technological advancements are forcing everyone to digitize every aspect of their organization as fast as possible just to stay one step ahead of getting left behind.
If that weren’t enough to worry about, competitors are breading and populating like rabbits. Not to mention the giant Microsoft sized looming recession-fueled financial crisis and rising interest rates.
Uncertainty is everywhere, and left unchecked, it can destroy even the most seasoned business leaders and teams.
Time and again, I have witnessed doubt, uncertainty, and fear. They possess the capability to annihilate a company and, at times, even an entire industry. What prevents companies from making the necessary changes crucial for their prosperity?
In the world of business, failing to act at all, is the riskiest move one can make.
Throughout history, countless companies have vanished because their leaders were reluctant to embrace change when clear warning signs were evident. Fear, apathy, and a lack of personal accountability, these fundamental human flaws can transform a promising company into a lifeless entity. Ultimately, it all boils down to the cancerous nature of uncertainty.
This is why it is imperative to address the elephant in the room…
The unknown can be overwhelming and emotionally exhausting, that’s why it is vital to take time to develop effective strategies to navigate the stress of uncertainty so you can conquer it before it conquers you and potentially your business.
Mastering Uncertainty: 10 Foolproof Steps to Secure Your Business’s Future
Uncertainty is an inherent part of entrepreneurship. The future is unpredictable, and as a business owner, it’s essential to acknowledge and accept this reality. Moreover, uncertainty can take an emotional toll, leading to unwanted anxiety and stress.
By addressing the emotional challenges associated with uncertainty, you can build resilience and find opportunities even in the face of ambiguity.
9 Steps to Master Uncertainty:
1. Acknowledge the Uncertainty as a Friend Instead of a Foe
The first step in dealing with uncertainty is acknowledging its presence. Understand that the future is not set in stone, and unexpected events can occur. By accepting this reality, you can shift your focus from trying to predict the future like some Nostradamus but rather develop strategies that can adapt to any scenario life throws at you.
Embrace the Socratic idea that uncertainty is not a hindrance but an invitation to innovate and grow. Life would be boring without uncertainty and continual growth.
2. Embracing a Growth Mindset
To navigate uncertainty successfully, cultivating an abundance, growth mindset is the only way to overcome self-doubt. A growth mindset enables you to view challenges as opportunities for learning and development. Embrace the belief that you can adapt, learn, and improve, regardless of the circumstances keeping you up at night. By fostering a positive attitude towards change, you can remain agile and resilient in the face of indecision.
Remember, the most dangerous move in business is the failure to make a move at all. It’s better to make the wrong move quickly and move on that wait too long to make the right decision. It comes down to mindset.
3. Dig a Mote Around Your Business Foundation
Build a solid fortifications around your business like the enemy is about to siege your castle. Dig a mote, build more weapons, and get your team ready for battle war. Conduct thorough market research to gain a deep understanding of your target audience, industry trends, and competitors, and software to make you more operationally efficient. This knowledge will allow you to make informed decisions and adapt your business strategies accordingly. Deeping your relationships with your existing customers. Keeping your current customer base during hard times can be easier than ignoring them and trying to find new ones. Having a clear roadmap in place will provide guidance during uncertain times.
PS. For more details on how to navigate your business during a recession, access my free eBook here.
4. Diversification and Flexibility
When uncertainty raises it’s ugly head, diversification and flexibility are become your secret weapons like a playbook out of The Art of War. Expand your product or service offerings to cater to a broader customer base. By focusing on diversifying your revenue streams, you can mitigate risks and adapt to changing market conditions. Explore new markets and customer segments to tap into untapped opportunities. Being open to change and willing to embrace new ideas will help you navigate uncertainty with confidence.
For Example, An IT consulting firm: During a uncertain economic times, businesses may scale back on IT infrastructure investments. To diversify its product offerings, a small IT consulting firm could expand into cost-effective solutions like cloud computing, software-as-a-service (SaaS) implementations, or cybersecurity services. This diversification allows the firm to offer more flexible and budget-friendly IT solutions to businesses looking to optimize their operations.
Don’t get stuck in a corner, have a plan b ready before you even need one.
5. Establish and Build a Strong Network
The strength of your network is the heart of your business. Building a network of mentors, advisors, and like-minded business owners can provide valuable support during uncertain times. Connect with experienced individuals who have successfully navigated similar challenges. Their insights and guidance can offer you a fresh perspective and help you make informed decisions. Collaborating with other business owners can also lead to partnerships and opportunities for mutual growth.
For help building your professional network look for private networks like the C-Suite Network where you can gain new connections and insights on your business from other seasoned executives.
6. Continuous Learning and Innovation
In a rapidly evolving business landscape, continuous learning and innovation are key to survival. Stay updated with industry trends, advancements, and technological developments. Encourage your team to engage in professional development and provide them with opportunities to enhance their skills.
By fostering a culture of innovation, you can adapt quickly to changes and seize emerging opportunities by multiply the brainstorming of innovation to your entire team and alleviate some of the pressure off your shoulders.
7. Effective Risk Management
Uncertainty often brings along potential risks. Identifying and managing these risks is crucial for business owners. Conduct a thorough risk assessment to identify potential threats to your business. Develop contingency plans to mitigate these risks and ensure business continuity.
Regularly review and reassess your risk management strategies to adapt to changing circumstances.
8. Seeking Support and Guidance
During uncertain times, seeking support and guidance can make a significant difference. Join business associations and communities where you can connect with fellow entrepreneurs facing similar challenges. These networks provide opportunities for collaboration, sharing experiences, and seeking advice. Additionally, don’t hesitate to seek professional help from consultants or business coaches who can offer objective insights and help you navigate uncertainty effectively.
9. Emphasizing Self-Care
Running a business amidst uncertainty can be a mental and emotional rollercoaster. It’s vital to prioritize self-care to maintain your well-being. Manage stress and anxiety through activities such as exercise, meditation, or spending time with loved ones. Maintain a healthy work-life balance to prevent burnout.
Taking care of yourself allows you to approach challenges with a clear mind and renewed energy.
Conclusion
Uncertainty is an unfortunate coast of doing business an owner or executive . But acknowledging any self-doubt and embracing a growth mindset, you can navigate the unpredictable future with resilience and adaptability. Hell, you might even learn to love it.
Building a solid foundation, diversifying your business, establishing strong networks, and continuously learning and innovating are key strategies to thrive amidst uncertainty. Effective risk management, seeking support and guidance, and emphasizing self-care are also essential for maintaining emotional well-being and achieving long-term success.
In my book, Running the Gauntlet, Essential Lessons to Lead, Drive Change, & Grow Profits I put the following in the Dedication:
“To all the naysayers, opportunists, and obstructionists who do their best to stop the progress of change in an organization. Note: We will beat you.”
While we are living in uncertain times, remember that these are the moments when people need leaders to step up the most.
For years, managers have been giving performance reviews to the people they supervise.
The idea behind them is sound – to review what employees have been doing, set new goals, and schedule a time to meet again to review the progress they have made.
My issue is that the structure of job reviews has led employees to view them this way . . .
“I am going to have to admit things that I have not done well, and my supervisor will correct and blame me.”
That expectation has caused employees to dislike, or even dread, job reviews. Many of them think the best way to survive one is to hide or misrepresent problems, which obviously will not help them or the organization attack the right issues in the right way.
The solution, in my experience, is to replace classic performance reviews with frequent check-in meetings between managers and the staff members they supervise. These check-ins should be held about once a month, or more frequently during times when a lot of critical work is being done.
Structuring Your Check-In Meetings
It is important to frame the check-in discussions in positive and motivational ways that drain the blame from the entire manager/employee discussion. Here are some suggestions that can make that critical change happen.
Start by asking, “What have you done since we last met that you have felt especially good about?”
This question encourages the employee to discuss things that have gone right, not wrong. And it sets a positive tone for the entire discussion.
Follow up by asking, “Is there a way the organization can support you better in this area?”
Perhaps the employee needs a temporary worker to do administrative work, a piece of technology or some other resource that will make the work more efficient. When you ask this question, you show that you are there to offer encouragement and support, not blame.
Use what I call the “Five to One” Rule
This means that as a manager, you should make five positive statements for every one that could potentially be viewed as negative criticism. One example of those five positives could be, “I would like to compliment you on the way you have motivated people on your team to complete the recent customer survey.” One statement that could be viewed as criticism could be, “Why did it take six weeks to gather and summarize the results of our survey?” Note that both questions will lead to an operational discussion about a survey, but the second one will reveal the same information in a positive and proactive way.
Finish the Discussion with Yet More Positive Motivation
A process-centered question like, “When should we follow up to discuss what you and your team have gotten done on this?” can be followed with a positive statement like, “You are doing just a great job on the projects and processes we have talked about today. Great job!”
When the employee leaves a meeting with a positive statement like that still ringing in her or his ears, there will be positive motivation to perform.
Resist the Temptation to File a Detailed Report in the Employee’s Personnel File
Yes, it is a good idea to document what was discussed. But you can note the topics and goals that were set in a short memo that you keep on file.
One thing for certain? Handing the employee a memo that itemizes everything you discussed – and requiring that he or she sign it before it is placed in a folder in your HR department – is not a way to motivate employees or make them feel energized to do great work.
In Summary . . .
If your company’s policies require you to do annual or semi-annual job reviews with every employee, you need to go ahead and do them. But you can also hold frequent check-in meetings like the ones we have discussed in this article.
If you try it, I know you will achieve remarkable improvements in your leadership and your team’s progress.
About Evan Hackel, C-Suite Advisor
As author, speaker, and consultant, Evan Hackel has been instrumental in launching more than 20 businesses and has managed a portfolio of brands with system-wide sales of more than $5 billion. He is the creator of Ingaged Leadership, is author of the book Ingaging Leadership Meets the Younger Generation and is a thought leader in the fields of leadership and success.
Evan is the CEO of Ingage Consulting, Delta Payment Systems, and an advisor to The Learning Network (formerly Tortal Training). Reach Evan at ehackel@ingage.net, 781-820 7609 or visit www.evanhackelspeaks.com
People ask me all the time, should my Corporation or LLC own or lease a vehicle? There are a lot of great benefits for having your entity own or lease a vehicle, such as being able to deduct all vehicle payments, insurance, and maintenance costs. You can additionally take advantage of the Section 179 deduction which allows for accelerated depreciation on vehicles weighing over 6,000 pounds. That is why you see people buying G Wagons and other large SUVs to capture that write off in their company. However, there are some things you need to consider before buying a vehicle in your company.
First, your entity is assuming ALL of the liability of the vehicle. What do I mean by that you may be asking? This vehicle travels down the road at 50, 60 and sometimes 70 miles an hour. Should that vehicle be involved in an accident, and someone files a lawsuit, the liability is going to fall back to the company and the driver. Now, you may be saying, that is what insurance is for. If someone claims negligence or punitive damages, insurance companies will always find a way out of the equation and not be responsible for paying. This means that if there is a judgement, the creditor could go after the assets of the business and you personally.
This leads me to the next thing you need to consider. When you switch the vehicle over to an entity, you are now going to have to deal with a whole different type of insurance. Since the vehicle is no longer a personal vehicle, it is now a business vehicle, you will need to obtain fleet insurance. This means that if you do not have a fleet of vehicles, your premiums could be astronomically high. You really need to consider the burden vs. the benefits and speak with an expert!
Are you tired of working hard for your money? Do you dream of living a life of luxury without lifting a finger? If so, you may have fallen for the myth of smart passive income. In this article, I will argue that the idea of passive income is not only misleading but also dangerous. Contrary to popular belief, there is no easy way to make money, and those who claim otherwise are either lying or ignorant. So, buckle up and get ready to have your world turned upside down.
The Fallacy of Passive Income: Why It’s Not Real
Smart passive income is a term that has been thrown around a lot in recent years. It suggests that you can make money without doing anything or very little work. The truth is, there is no such thing as passive income. Even if you’re making money from investments, you still need to put in the effort to make informed decisions, and even then, there are risks involved. If you want to make money, you need to put in the effort.
The Risks of Passive Income: Why It’s Dangerous
Not only is the idea of passive income misleading, but it’s also dangerous. Many people have fallen for the promise of easy money and ended up losing their life savings. Investing in stocks, real estate, or any other form of passive income carries significant risks. The idea that you can make money without doing anything is a fallacy, and those who believe it are setting themselves up for failure.
Passive Income Requires More Work Than You Think
Passive income is often sold as an easy way to make money, but the reality is much different. Whether it’s creating an online course, writing an e-book, or investing in stocks, all forms of passive income require a lot of hard work upfront. Even after you’ve put in the effort, there’s no guarantee of success. The idea that you can make money without doing any work is a fantasy.
The Reality of Passive Income: Why It’s a Myth
The idea of passive income is a myth perpetuated by those who want to sell you something. The truth is, there’s no easy way to make money. Whether it’s through investing, creating a business, or working a 9-5 job, all forms of income require effort. Those who claim otherwise are either lying or trying to sell you something. Don’t fall for the myth of passive income.
The Limits of Passive Income: Why It’s Not Sustainable
Even if you’re lucky enough to make money from passive income, it’s not sustainable in the long run. Markets change, investments fluctuate, and businesses fail. The idea that you can make money without putting in any effort is not only a fallacy but also a dangerous one. If you want to make money, you need to be willing to put in the effort.
The Importance of Active Income: Why It’s Necessary
In conclusion, there’s no easy way to make money. Unless you’re born from it…
The idea of passive income is a myth perpetuated by those who want to sell you something. If you want to make money, you need to be willing to put in the effort. Active income is the only real income.
Whether it’s through creating a business, investing in your education, or working a 9-5 job, all forms of income require effort. The key is to find something you’re passionate about and work hard to achieve your goals. Don’t fall for the myth of smart passive income. It’s a dangerous and misleading idea that will only lead to disappointment and failure.
Conclusion:
The idea of smart passive income is a dangerous myth that should be debunked. While it’s tempting to believe that you can make money without doing anything, the reality is much different. Making money requires effort, hard work, and sometimes a little bit of luck. There’s no shortcut to success, and those who claim otherwise are either lying or ignorant. If you want to make money, you need to be willing to put in the effort.
Active income is the only real income, and it’s the key to achieving financial freedom and success. So, don’t fall for the myth of smart passive income. Instead, focus on finding something you’re passionate about and work hard to achieve your goals.
As a business, email marketing is an essential tool to reach out to prospects, build relationships, and generate leads. With numerous email marketing platforms available, it can be challenging to determine which one is best suited for your business.
In this article, we will discuss the top email marketing platforms for B2B businesses.
What is B2B Email Marketing?
B2B email marketing is the process of sending promotional messages via email to businesses or individuals who work in businesses. The goal of B2B email marketing is to create awareness, generate leads, and build relationships with prospects that may eventually convert into customers.
Why is Email Marketing Important for B2B Businesses?
Email marketing is a cost-effective way to reach out to prospects, build relationships, and generate leads. It is estimated that for every $1 spent on email marketing, businesses can expect an average return of $42. This makes email marketing a crucial tool for B2B businesses looking to grow their customer base.
Top Email Marketing Platforms for B2B Businesses
Here are the top email marketing platforms for B2B businesses:
1. HubSpot
HubSpot is a popular inbound marketing platform that offers a suite of tools for email marketing, CRM, social media, and content management. With its easy-to-use drag-and-drop email builder, HubSpot allows you to create personalized emails that resonate with your audience. It also provides robust analytics that can help you measure the effectiveness of your email campaigns.
2. Mailchimp
Mailchimp is a cloud-based email marketing platform that allows you to create, send, and track email campaigns. With its user-friendly interface, Mailchimp makes it easy to design and send professional-looking emails. It also offers features such as A/B testing, segmentation, and automation that can help you optimize your email campaigns.
3. Constant Contact
Constant Contact is an email marketing platform that provides a wide range of features such as email templates, list management, and reporting. With its easy-to-use interface, Constant Contact allows you to create and send professional-looking emails that are tailored to your audience. It also provides robust analytics that can help you track the success of your email campaigns.
4. Campaign Monitor
Campaign Monitor is an email marketing platform that offers a variety of features such as drag-and-drop email builder, automation, and segmentation. With its customizable templates and responsive design, Campaign Monitor allows you to create emails that look great on any device. It also provides detailed analytics that can help you measure the effectiveness of your email campaigns.
5. Sendinblue
Sendinblue is a cloud-based email marketing platform that offers features such as email design, list management, and automation. With its intuitive interface, Sendinblue allows you to create and send professional-looking emails that are tailored to your audience. It also provides detailed analytics that can help you track the success of your email campaigns.
6. Pardot
Pardot is a marketing automation platform that offers a suite of tools for email marketing, lead management, and analytics. With its drag-and-drop email builder and automation features, Pardot allows you to create personalized emails that resonate with your audience. It also provides robust analytics that can help you measure the effectiveness of your email campaigns.
7. Marketo
Marketo is a marketing automation platform that provides a variety of features such as email marketing, lead management, and analytics. With its drag-and-drop email builder and automation features, Marketo allows you to create personalized emails that are tailored to your audience. It also provides robust analytics that can help you track the success of your email campaigns.
8. ActiveCampaign
ActiveCampaign is a cloud software platform for small-to-mid-sized businesses and is based in Chicago, Illinois. The company offers software for customer experience automation, which combines the transactional email, email marketing, marketing automation, sales automation, and CRM categories
If you’re starting a business, chances are you’ve heard about the term bootstrapping. In simple terms, it means building a business without external funding. Instead, you rely on your own resources, hard work, and creativity. It’s a challenging but rewarding way to build a business, and in this article, we’re going to explore how you can do it too.
What is bootstrapping?
Bootstrapping means starting and growing your business with minimal external support or investment. Instead, you rely on your own resources, skills, and sweat equity. It’s a popular approach for many entrepreneurs who want to keep control of their business and avoid the constraints that come with external funding.
Bootstrapping can take many forms. You might start small and build up your business over time. You might launch a product or service and reinvest your profits to grow your business. Or you might leverage your network and community to get the resources you need. Whatever approach you choose, the key is to be resourceful, creative, and persistent.
The Benefits of Bootstrapping
There are several benefits of bootstrapping your business. First, you retain full control over your business. You don’t have to answer to investors or partners, and you can make decisions based on what’s best for your business and your customers.
Second, bootstrapping forces you to be more resourceful and creative. When you don’t have a lot of money to spend, you have to find innovative ways to get things done. This can lead to more efficient and effective business processes, as well as unique products and services.
Finally, bootstrapping can lead to a more sustainable and profitable business. When you rely on your own resources, you’re more mindful of how you spend your money and time. You’re less likely to overspend or waste resources, which can lead to a more sustainable business in the long run.
How to Bootstrap Your Business
Bootstrapping requires a lot of hard work, dedication, and creativity. But if you’re up for the challenge, here are some tips to help you get started:
1. Start Small
When you’re starting a business with limited resources, it’s important to start small. Don’t try to do everything at once. Instead, focus on one product or service and make it the best it can be. This will allow you to build a strong foundation for your business and generate revenue to reinvest in growth.
2. Prioritize Your Spending
When you’re bootstrapping, every dollar counts. It’s important to prioritize your spending and focus on what’s essential for your business. Invest in things that will help you generate revenue, such as marketing and product development, and cut back on non-essential expenses.
3. Leverage Your Network
Your network can be a valuable resource when you’re bootstrapping. Reach out to friends, family, and colleagues for help and support. You might be surprised at how willing people are to lend a hand or make an introduction.
4. Focus on Customer Acquisition
When you’re bootstrapping, it’s important to focus on customer acquisition. You need to generate revenue to reinvest in your business and grow. Focus on building a strong customer base and delivering a great product or service. Word of mouth can be a powerful marketing tool, so make sure you’re delivering value to your customers.
5. Embrace Sweat Equity
Bootstrapping requires a lot of hard work and dedication. You might have to work long hours, take on multiple roles, and make sacrifices. But if you’re willing to put in the effort, the rewards can be significant. Embrace sweat equity and
Conclusion
Bootstrapping can be an effective way for entrepreneurs to start and grow their businesses without external funding. By using personal savings, revenue generated by the business, and available credit, entrepreneurs can maintain full control over their ventures, save costs, and focus on generating revenue. Successful bootstrapping requires careful planning, hard work, and creativity. Entrepreneurs should create a detailed business plan, prioritize marketing and sales efforts, and use technology to their advantage. By following these tips, entrepreneurs can bootstrap their way to success.
Are you a business owner or entrepreneur looking to expand your network and grow your business?
Joining a business networking group can be a great way to connect with other like-minded professionals, share ideas and insights, and potentially gain new clients or customers. However, with so many different networking groups out there, it can be challenging to know which ones are worth your time and investment. In this article, we will explore some of the best business networking groups to join and why.
The C-Suite Network is a community of influential business leaders. The network is designed to provide its members with exclusive access to resources, knowledge, and connections that can help them grow and succeed in their roles.
The network offers a range of services and benefits to its members, including networking opportunities, educational events, and access to business resources such as whitepapers, podcasts, and webinars. The network also provides a platform for members to share their experiences and knowledge with one another, helping to foster collaboration and innovation among the business community.
BNI is a global networking organization that provides members with weekly networking meetings to share referrals and build relationships. Members are expected to bring referrals for other members and are also given the opportunity to give a weekly 60-second pitch about their business. BNI has chapters in over 70 countries, making it a great option for those looking to expand their business on a global scale.
Chamber of Commerce
Most cities and towns have a local Chamber of Commerce, which serves as a hub for business networking and advocacy. Members of the Chamber of Commerce have access to networking events, educational workshops, and resources to help grow their business. Additionally, many Chambers of Commerce offer discounts on products and services to their members.
Meetup
Meetup is an online platform that connects people with shared interests and hobbies. While Meetup is not specifically designed for business networking, it can be a great way to meet other professionals in your area who share similar interests or work in a similar industry. Many Meetup groups also host events specifically geared towards networking and professional development.
Rotary International
Rotary International is a global service organization that brings together business and professional leaders to provide humanitarian services and promote goodwill. Rotary has chapters in over 200 countries and offers members the opportunity to network, develop leadership skills, and make a positive impact in their local communities.
SCORE
SCORE is a nonprofit organization that provides free business mentoring and education services to entrepreneurs and small business owners. In addition to one-on-one mentoring, SCORE also offers webinars and workshops on a variety of topics related to business growth and development.
LinkedIn Groups
LinkedIn Groups are online forums where professionals can connect and share insights on industry trends and best practices. Joining LinkedIn Groups that are relevant to your industry or area of expertise can be a great way to connect with other professionals and potentially generate new business opportunities.
Industry-Specific Associations
Depending on your industry, there may be industry-specific associations or organizations that offer networking opportunities and resources. For example, the National Association of Realtors and the American Bar Association both offer networking events and resources for professionals in their respective industries.
In conclusion, there are many different business networking groups to choose from, each with their unique benefits and advantages. Whether you are looking to expand your business on a global scale or connect with other professionals in your local community, there is a networking group out there that is right for you.
